An oil field due to begin production east of Shetland could produce oil until 2050, it has emerged.
Norwegian Energy Company ASA (Noreco) recorded a boost in production and revenue after experiencing a lift in production.
OAO Rosneft asked the state for as much as 1.5trillion rubles ($42billion) of aid, a government official said, signalling a US ban on long-term loans to Russia’s largest company is starting to bite.
RMEC has made two senior appointments.
Vladimir Putin’s dream of a new pipeline to deliver Russian natural gas to the European Union without passing through Ukraine is fading amid escalating tit- for-tat economic sanctions.
Faroe Petroleum has appointed the “Oil Woman of the Year” as an independent non-executive director.
Exxon Mobil Corp. posted higher-than- expected profit as international sanctions against Russian interests clouded the U.S. oil explorer’s efforts to tap some of the world’s biggest crude reserves.
The European Commission (EC) claimed yesterday that the Elgin gas leak underlined the need for Brussels to take regulatory control of the North Sea industry.