Saipem to cut 800 more jobs across Europe in next four years
Saipem has said it will cut 800 more jobs across Europe in the next four years as it looks to make cost savings.
production
Offshore oil production reached highest level last year since 2010
Global offshore oil production last year was at its highest level since 2010, according to new figures from the US Energy Information Administration.
Vitol boss says oil market will only see boost from ‘meaningful’ production cut
The chief executive of Vitol said the oil market may see supply and demand rebalance if both Russia and OPEC deliver a meaningful production cut.
Nigeria raises half of six-month revenue target on low oil production
Nigeria said it only managed to raise 55% of its six-month revenue target in the first six months of this year.
Oil speculators abandon hope of OPEC reaching supply accord
Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this week in Algiers.
CNOOC starts-up production from Enping oilfield
CNOOC said production has started from its Enping 18-1 oilfield off the South China Sea.
Algeria to boost gas output as three delayed projects come online in 2017
Algeria is on track for more than nine billion cubic metres a year of additional gas output from next year when three delayed projects come online.
Oil climbs as OPEC may hold formal meeting next week in Algiers
Oil rose after Algeria said OPEC may turn its planned informal meeting in Algiers next week into a formal session.
Norway production falls nearly 10%, but beats predictions
Norwegian production averaged 1.9million barrels of oil, NGL and condensate in August – 9.5% decrease month-on-month.
Opinion: Our oil and gas industry is a significant asset for Scotland
Our oil and gas industry is a significant asset for Scotland.
North Sea has largest production increase on record, according to new figures
The UK North Sea posted its largest production increase in 15 years, according to new figures.
Iran oil output near target means freeze is ‘political decision’
Iran hinted that it may soon drop its opposition to an oil-production freeze, with a senior official saying the OPEC member’s crude output is closing in on its pre-sanctions level and that limiting supply is “a political decision.”
OPEC Secretary General and Iranian oil minister meet for talks on crude prices
A meeting between OPEC Secretary-General Mohammed Barkendo and Iran's oil minister has started in Tehran.
Iran oil terminal could be ready by end of year
Iran has said it expects to complete a pipeline and a terminal to export a new grade of crude by the end of the year.
Russia’s Rosneft hits drilling record in June, reveals Vietnam play
Russian state oil company Rosneft set a new daily development drilling record in the first half of this year while its partners in Vietnam discovered a new gas condensate field.
Venezuela’s Maduro says he discussed oil prices with Saudi King
Venezuelan President Nicolas Maduro said he spoke to Saudi Arabia’s king about boosting oil prices and is reaching out to the heads of state of fellow producers Russia, Iran and Qatar as his country reels under the crude crash.
After weeks of delay, Gorgon production expected to resume
Production is expected to resume shortly at Chevron's liquefied natural gas (LNG) Gorgon export plant.
Norway’s production falls
Norway’s production fell in June, it was today confirmed.
Oil falls sharply after OPEC members fail to reach agreement
Oil prices have fallen sharply after members of the Opec cartel failed to reach an agreement on how to to tackle the global supply glut.
Suncor resumes oil-sands operations after wildfire shutdown
Suncor Energy Inc. restarted oil-sands operations in the Regional Municipality of Wood Buffalo, an area in Canada that includes wildfire-ravaged Fort McMurray. It’s a move that enables thousands to return to work.
Iraq says OPEC will pursue output-freeze talks at June meeting
The Organization of Petroleum Exporting Countries will resume talks at a meeting in June to reach an agreement on freezing oil output, Iraq’s governor to OPEC said just days after politics thwarted a deal to cap production and curb the global glut.
NPD issues rallying call for more exploration
The Norwegian Petroleum Directorate (NPD) has issued a rallying cry for more exploration to recover resources.
FTSE 100 rallies back amid hopes of oil production cut
The London market has rallied back after commodity stocks lifted on fresh hopes that a cut to oil production could be around the corner.
Trinity agrees further extension for repayments
Trinity said the company has agreed a further extension to its moratorium on principal repayments.
Total said to be eyeing up Engie assets
Total is said to have held talks to buy all or part of domestic rival Engie's exploration and production activities.