The oil price spike caused by a drone attack on a major Saudi processing facility will provide a welcome − but short-lived − boost to North Sea revenues, a prominent petroleum economist has said.
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply.
Oil posted its biggest ever intraday jump to more than $71 a barrel after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.
The recovery of the north-east’s oil and gas industry has not been “spectacular” despite a flurry of M&A activity in the first six months of the year, an industry expert has said.
Saudi Arabia's energy minister has confirmed that drone attacks on its oil facilities knocked out about 50% of the country's production.
President Donald Trump scoffed yet again at a source of electricity championed by his own energy secretary, saying wind power doesn’t work “all that well.”
Oil fell for a fourth day, set for the longest run of declines in more than five weeks, after the latest escalation in the trade war blindsided investors and worsened an already-shaky global demand outlook.
Donald Trump's decision to cancel a visit to Denmark next month after the prime minister described his plan to buy Greenland as "absurd" has taken the Danish royal palace by surprise, a spokeswoman said.
The U.S. is gravely disappointed with the U.K. after a Gibraltar court allowed the release of an Iranian tanker suspected of hauling oil to Syria, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said.
When you take the long view of history, trade wars become skirmishes and even Brexit will be seen as a ship that passed in the early 21st Century night.
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon.
President Donald Trump said the U.S. “immediately destroyed” an Iranian drone that approached the USS Boxer near the Strait of Hormuz, though officials in Tehran denied losing one.
The U.K. is in talks with the U.S. and other allies about beefing up their military presence in the Persian Gulf to deal with the rising threat to shipping posed by Iran.
Dutch contractor Heerema has been awarded a contract to help construct the first major offshore wind project in the US.
The North Sea oil industry must keep a lid on costs if measures taken by Opec and its allies push crude prices much higher, top Aberdeen energy experts have said.
Oil edged lower as investors weighed troubling economic data from around the world against OPEC’s extension of output cuts into 2020.
Uncertainty relating to Iran and the US-China trade war has led volatile oil prices and the postponement of a key OPEC meeting. The recent exchange of words between US and Iranian leaders has not calmed markets.
Crude kept rising following its biggest weekly gain since late 2016 after PresidentDonald Trump said he would impose “major additional sanctions” on Iran, exacerbating tensions in the oil-rich Middle East.
Oil in London headed for its biggest weekly gain since February as escalating tensions between the U.S. and Iran fanned fears of conflict that would disrupt energy supplies from the Middle East.
With offshore supply chain opportunities under the spotlight in Aberdeen this week, it is important to realise that this isn’t just about oil & gas.
A business which has pioneered technology for producing LNG without the need for pipelines has delivered its first shipment in the US.
Britain is currently backing the US in its assessment that Iran is responsible for suspected attacks on two oil tankers in the Gulf of Oman, the Foreign Secretary has said.
Two oil tankers near the strategic Strait of Hormuz have reportedly been attacked, leaving one ablaze and adrift as sailors were evacuated from both vessels and the US navy rushed to assist amid heightened tensions between Washington and Tehran.
An independent federal review of a 2018 fatal oil rig explosion in Oklahoma determined there is sweeping blame to be shared by the entire energy sector and government for a woeful lack of oversight and regulations for onshore oil and gas drilling.