U.S. President Donald Trump’s administration backed off an assertion he made earlier indicating he persuaded Saudi Arabia to effectively boost oil production to its maximum capacity, which would have threatened to blow up a fragile truce agreed by OPEC and inflamed the Saudi-Iran rivalry.
A suspected depth charge near a North Sea platform has turned out to be nothing more than a harmless, degraded float or buoy.
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving quickly to head off a supply crunch, aiming to dramatically ramp up production to a record high 11 million barrels per day in July, according to Reuters.
A giant module for a North Sea oil field has been shipped to its final destination from Lowestoft Port in Suffolk.
Serica Energy’s boss said yesterday that the oil firm is “recruiting like mad” as it prepares to open new operational headquarters in Aberdeen.
Iran’s position in the oil market is looking weaker than ever as a bruising OPEC meeting and tightening net of U.S. sanctions leave it with fewer friends and fleeing customers.
A new North Sea decommissioning specialist has got its management team in place and picked a name.
UK firm Tullow Oil said today that well plugging and abandonment operations on its remaining North Sea wells were “progressing to plan”.
Oil service firm Hunting said today that its bosses continued to take a cautious view on the market’s recovery rate.
Petroleum Geo-Service has completed a 3D seismic survey on the outer Moray Firth licence containing the Verbier discovery.
Bosses at i3 Energy said yesterday that finding a venture partner for its Liberator field in the North Sea could be great news for shareholders and other smaller oil firms.
Serica Energy said today that it had submitted a field development plan (FDP) for the Columbus field in the North Sea.
Rising oil prices have been a boon for the FTSE 100. The market was at its lowest ebb since 2016 at the end of March, but then rose to record levels on May 22 – some talked of an increase to 8,000.
OPEC is heeding consumers’ calls to pump more crude, but that’s only making the oil market more nervous.
Drilling and Engineering contractor KCA Deutag (KCAD) said today that a new North Sea contract would keep 70 of its employees busy.
North Sea industry has risen to the challenge of lowering decommissioning costs, a regulator said today.
North Sea oil firm i3 Energy said today that it had entered into a period of exclusivity with a potential venture partner for the Liberator field in the outer Moray Firth.
Cluff Natural Resources said today that it would raise £2 million through the placing of 95.2 million new shares.
The CEOs of the two largest U.S. oil companies said Tuesday that tariffs enacted by the Trump administration would slow growth in the U.S. oil and gas sector.
RockRose Energy said today that it was making "good progress" on the acquisition of Dyas BV for $124 million.
Oil service firm Petrofac said today that it had spotted “early signs of recovery” in the UK North Sea, despite continued low activity, utilisation and order intake.
Faroe Petroleum’s chairman said today that the Aberdeen-based oil explorer was in a “very strong position” ahead of its annual general meeting today.
North Sea industry needs more “transparency” on the delivery of a multi-billion pound sector deal before it can make greater strides to secure its future, oil chiefs said.
Oil giant Total’s attempt to justify planned offshore rota changes was “arrogant, cynical and patronising”, a union boss has said.
Big Oil’s fortunes are becoming tied more closely to natural gas than ever before.