Experts ‘excited’ by North Sea operators’ urgency
Oil industry experts said they were “excited” by operators’ plans to get straight to work following the latest North Sea licence auction.
oil
US oil slips as stockpile shock helps boost discount to Brent
Oil in New York slipped on a surprise gain in inventories, with American crude near its weakest level in more than three years versus benchmarks elsewhere.
Licensing round shows big boys not ready to leave North Sea yet, analyst says
The 30th North Sea licensing round proves big players are not ready to leave UK waters yet, an analyst said today.
Updated: 30th licensing round shows North Sea ‘is back’
The latest offshore licensing round shows exploration is still “alive” in the North Sea, the industry’s regulator said today.
Rhum well deferral is ‘good news’ for Serica, analysts say
BP’s decision to delay work aimed at increasing production from the Rhum field because of US sanctions on Iran is “good news” for Serica Energy, analysts have said.
Serica ‘fully-committed’ to buying BP field co-owned by Iran
Serica Energy said today that it remains "fully committed" to buying BP's interests in a North Sea field co-owned by Iran.
Azinor books Transocean rig for North Sea appraisal wells
Azinor Catalyst has signed a letter of intent with Transocean for drilling the Agar-Plantain wells in the UK North Sea.
Oil warning despite rise for Ryanair
Ryanair has booked a solid increase in full-year profits, but warned that rising oil prices could take the gloss off its performance over the next 12 months.
Forget about oil at $80. The big rally is in forward prices
Brent crude oil grabbed all the attention after spot prices hit $80 a barrel last week. And yet, almost unnoticed, a perhaps more important rally has occurred in the obscure world of forward prices, with some investors betting the "lower for longer" price mantra is all but over.
Shadow energy secretary urges action on oil sector deal
A Labour frontbencher has called for action on a multibillion pound oil and gas sector deal – and confirmed the party would order an “urgent review” of North Sea taxes if it takes power.
Crude oil’s surge putting the ‘petro’ back in petrocurrencies
The currencies of some of the world’s top oil producers are set to become intertwined with crude prices once again as the commodity surges to the highest since 2014.
Maduro declared winner in disputed Venezuela election
Venezuelan officials declared socialist leader Nicolas Maduro the easy winner of Sunday's presidential election.
Big oil investors say more needed to tackle climate change
Some of the world’s biggest fund managers are ratcheting up the pressure on oil and gas companies, expressing fear that a lack of action over tackling climate change could risk their investments.
Reported Conoco talks could double BP’s Clair field stake
Oil giant BP is in talks with ConocoPhillips over a swap deal that could almost double its stake in a major North Sea field, a news report said.
Opinion: Improving picture for oil companies, but caution pervades
The tide appears to have turned for oil. This time last year, the oil and gas industry appeared to be drowning in a commodity price which seemed destined to hug the $50 mark for some time. Further back, in January 2016, it went as low as $30.
IEA: High oil prices ‘taking a toll’ on demand
Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished, and more outages could push oil prices up even higher. Yet, there are some signs that demand is starting to take a hit as oil closes in on $80 per barrel.
Labour plans oil bulletin
Labour has unveiled plans to establish a new oil and gas bulletin to replace a system controversially axed by the Scottish Government.
Get suppliers involved early to ensure your project is a success, OGA says
The Oil and Gas Authority (OGA) has urged operators and service companies to help safeguard the UK’s energy supply by getting together earlier to plan field developments.
Brent rises to $80 for first time since 2014
Oil rose to $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran.
Oil price at highest level since 2014 after US surplus shrinks
Crude settled at the highest since 2014 as shrinking U.S. oil, gasoline and diesel stockpiles signaled tightening global supplies.
Hurricane makes second Lancaster project breakthrough in two days
Hurricane Energy has delivered a second update on its flagship west of Shetland field development in two days.
Goldman Sachs chides hedge funds by making case for buying oil
Money managers who are reducing their bullish bets on oil are following a “dangerous” strategy, according to Goldman Sachs Group Inc.
IEA cuts 2018 oil demand forecast as $70 crude takes its toll
The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption.
Nova field partners hand in £900m development plan
Wintershall has handed in its plan for developing the North Sea Nova field at a cost of £900million.
Hurricane says offshore installation phase under way on Lancaster
Hurricane Energy said today that offshore installation work had begun on the Lancaster field's early production system.