Saudi Arabia escalated its oil price war with Russia on Tuesday, with its state-owned company pledging to supply a record 12.3 million barrels a day next month, a massive production hike to flood the market.
French oilfield services firm TechnipFMC has announced a multi-million pound deal with BP in Angola.
Petronas is considering selling its stake in a joint project in Chad with ExxonMobil, according to people familiar with the matter.
Workers have voted “emphatically” in favour of strike action at the Sullom Voe terminal in Shetland.
A House of Lords investigation into upcoming IR35 reforms has been told that additional guidance is needed on employment definitions in the UK.
Babcock’s Offshore business has secured a new five-year shared contract with three oil and gas operators for helicopter transport in the northern North Sea.
Sonatrach and Eni Algeria Production have signed an agreement on the marketing of dry gas from the Zemoul El Kbar licence, until 2042.
Oil price falls below $40 per barrel spell problems throughout the industry, with companies and countries alike facing tough times.
A team of petroleum engineering students from the University of Aberdeen has made it to the world finals of the annual PetroBowl competition organised by the Society of Petroleum Engineers (SPE).
Petrol prices across the country could fall by up to 10p if the cost of oil continues to stay low, experts have said.
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Dubai-based Shelf Drilling has signed a one-year extension for its Trident 16 jack-up in Egypt.
Oil markets crashed more than 30% this morning after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.
Serica Energy has restarted its Bruce platform after a five-week shutdown following the discovery that an underwater structure had become “deteriorated”.
Oil’s getting hammered by a unique concurrence of demand and supply shocks that could send prices into the $20s, according Ed Morse, Citigroup Inc.’s head of commodities research.
A global recession is now almost inevitable this year, warns the chief executive of one of the world’s largest independent financial advisory and services organisations.
A company, which has worked on everything from James Bond movie sets to NASA and Chelsea FC’s owner’s superyacht, is now targeting Aberdeen’s oil and gas sector as its next growth market.
Aberdeen-based data science and predictive analysis firm Opex Group has joined forces with global natural resources research and consultancy company Wood Mackenzie to launch a new service for the oil and gas industry.
A group of UK North Sea oil and natural gas producers face an ambitious government-mandated target to cut their emissions as soon as 2025 as the nation seeks to make more real its ambition for net-zero fossil fuel pollution by the middle of the century.
The price of crude oil plunged below $42 per barrel Friday, threatening thousands of Houston-area jobs if the price languishes there for several months, an economist says.
A slump in crude prices following the collapse of high-stakes talks today has created a “real danger” that North Sea oil firms will delay investing in new fields, a top petroeconomist said.
Oil plummeted to the lowest in more than two years after high-stakes negotiations between OPEC and its Russian ally collapsed without a plan to arrest free-falling prices with supply cuts.
The Minerva Virgo product tanker has been attacked offshore Benin, with one seaman believed to have been kidnapped.
Equatorial Guinea has taken the decision to postpone its Africa Oil & Investment Forum (AOIF) and exhibition, which had been due to take place on June 1, in light of the coronavirus outbreak.
A document has revealed that UK safety regulators flagged issues with EnQuest’s Thistle platform years before it was evacuated over subsea structural concerns.