Tax breaks and fast-tracked permits are to be offered for controversial shale-gas extraction as the full scale of reserves in the north of England's Bowland field was revealed.
Independent oil and gas firm Trapoil says it expects repairs to the P2 well on the Athena field to be completed 'quickly' to bring production back up to previous levels.
Subsea 7 has warned it expects to lose up to $300million on its Brazilian offshore project at Guará-Lula NE project - which will significantly hit hopes of making a profit this year.
Spex Group, an Aberdeen provider of technology services to the global oil and gas industry, has been recognised in two categories in the Scottish regional judging of the PwC/HSBC Private Business Awards.
Oil giant BP has taken out adverts in leading US newspapers calling for a change in compensation payments in the wake of the Deepwater Horizon disaster.
Independent oil and gas firm Gulf Keystone says it expects to produce up to 40,000 barrels per day after its development plan for the Shaikan field was approved.
Total has signed an outline deal with Cyprus which will see increased investment in gas export facilities off the Greek island’s coast, according to reports today.
OMV Petrom and ExxonMobil E&P Romania are set to invest up to $1billion in exploration work for the Neptun block in the Black Sea after completing the largest 3D seismic survey in the area.
Shares in Petrofac dipped 4.8% this morning before rallying slightly, after the company reiterated it expected 'modest growth' with net profit weighted towards the second half of the year.