General Electric (GE) yesterday announced a deal to combine its oil and gas business with Baker Hughes, creating an oilfield technology firm with combined revenues of $32billion.
The Oil and Gas Authority (OGA) said a number of new entrants were among the 24 companies who applied for licences in the 29th round, which closed last week.
Spending on offshore oil and gas will drop in Western Europe over the next few years despite forecasts of more stable crude prices, new research shows.
Figures showing growing public support for the use of onshore wind to produce energy have been welcomed by environmental campaigners and the renewables sector.
The Oil and Gas Authority’s (OGA) technology guru has said that sharing the risk on large well campaigns will help put an end to the industry's race-to-be-second mentality.
Pennsylvania-based petroleum and natural gas exploration and pipeline company EQT Corporation has agreed to buy Trans Energy for $3.58 per share in cash.
Hurricane Energy said today it had taken another step towards production start-up from the North Sea Lancaster discovery after completing a second sidetrack well on the field.
Energy finance expert Colin Welsh said yesterday that the disarray at Xcite Energy was part of the impending North Sea liquidity crisis he warned of earlier this year.