Oil stable as Saudi Arabia, Russia say cuts could extend beyond 2017
Oil held onto Friday’s gains as Saudi Arabia and Russia said they’re prepared to extend production cuts into next year to clear the global surplus.
oil
Updated: BP announces major gas find offshore Senegal, hails ‘world class’ hydrocarbon basin
BP has hailed a major gas find off the West African coast as proof of a "world-class" hydrocarbon basin.
Russia throws weight behind extending output cuts
Russia has thrown its weight behind the extension of oil output curbs, ahead of OPEC talks.
InterMoor UK expands their decommissioning services
InterMoor Ltd has added rigless well abandonment capabilities to its UK-based services ahead of an expected North Sea decommissioning boom.
Dana Gas faces restructuring talks with bond holders
Dana Gas, the Middle East's largest regional independent natural gas company, is facing restructuring talks with Islamic bond holders.
Kvaerner deliver ‘solid’ Q1 performance but acknowledge ‘turbulent’ market
Norwegian engineering giant Kvaerner has experienced a "turbulent" market since the 2014 downturn.
SengS hires new managing director to replace founder Kerr
A new managing director has been appointed at SengS to replace the Aberdeenshire engineering firm’s founder, Murray Kerr.
Centrica in price cap warning ahead of general meeting
Centrica today repeated its warning that government intervention in energy prices would reduce competition and lead to heftier bills for consumers.
New report boosts estimates for Hurricane’s Lancaster field
North Sea firm Hurricane Energy said today that a new study had revealed a large increase in recoverable volumes held in its Lancaster field west of Shetland.
Crude dip could jeopardise North Sea projects, oil economist warns
A leading oil economist has warned that a worldwide drop in crude prices could impact on future North Sea projects designed to maximise recovery from the UKCS.
Europa prospects offshore Ireland hold more than 500million barrels
Europa Oil and Gas said today that two of its prospects off Ireland contain prospective resources of more than 500million barrels of oil.
Saudi Arabia says oil cuts could stretch into 2018
Saudi Arabia’s oil minister said he’s confident that an agreement by producers to curb crude output and shrink a market glut will be extended into the second half of the year and possibly beyond.
Hedge funds exit before Opec-driven oil rally disappears
Hedge funds jumped out of the oil market just in time.
Opinion: FPSO the obvious solution for Hurricane’s huge find
Hurricane Energy’s recent announcement of a major discovery at its Halifax well, West of Shetlands is very significant for the UK oil and gas industry. At a time when investment has been seriously reduced by the low oil price, and in the absence of any significant new finds, it heralds a potential revival in the sector.
Iraq maintains oil exports of more than 3million bpd
Iraq's oil exports averaged 3.252 million barrels per day (bpd) last month.
Brunei said to be willing to prolong OPEC cuts, claims Saudi’s energy minister
Saudi Arabia's energy minister Khalid al-Falih has claimed that Brunei has expressed a "willingness" to extend the global oil cut agreement between OPEC and non-OPEC countries.
US based DGO buys up Titan assets in Appalachian Basin
US based Diversified Gas & Oil PLC (AIM: DGOC) plans to acquire Titan Energy's assets in the Appalachian Basin.
In Pictures: Chrysaor set for new North Sea HQ after Shell deal
Chrysaor is poised to become the biggest tenant in The Capitol building in Aberdeen.
Oil prices at five-month lows following Russian indecision
Oil prices were hovering at near five-month lows on Friday, after comments from the Kremlin suggesting indecision over whether to extend production cuts sent crude tumbling overnight.
LGO Energy posts loss for 2016 due to stalled Goudron operations
LGO Energy's revenue nearly halved last year while it went through a "transitional" period due to restrictions on growth.
Marathon Oil losses narrow as international production lifts
Marathon Oil narrowed its losses and agreed to sell its Canadian oil sands business for $2.5billion in the first quarter of 2017.
Azinor hires Diamond rig for two North Sea wells
Oil exploration and production company Azinor Catalyst has booked a rig to drill two UK North Sea wells later this year.
Oil slides below $45 as US shale confounds Opec
Oil slid below $45 a barrel for the first time since OPEC agreed to cut output in November as U.S. shale confounds the producer group’s attempts to prop up prices.
Shell ‘not actively working on’ more North Sea sales
Shell’s new chief financial officer said yesterday that the oil major was “not actively working on” more North Sea asset sales, but did not rule out further UK divestment.
Video: First Statoil Mariner topside module leaves South Korea
Statoil has released footage of the first topside module for the North Sea Mariner field leaving a yard in South Korea.