Updated: Oil on course for first annual decline since 2015
Oil headed for its first annual decline since 2015, slumping more than 20 percent in a turbulent year that saw fears of supply scarcity turn to expectations of a surplus.
Oil headed for its first annual decline since 2015, slumping more than 20 percent in a turbulent year that saw fears of supply scarcity turn to expectations of a surplus.
Shares in Cabot Energy capitulated on Monday after the firm said it is fighting for survival and has commenced crunch talks with investors to raise emergency cash that will allow it to stay afloat.
Italian construction and engineering firm Rosetti Marino has pulled out of a deal to acquire Dutch company Heerema Fabrication Group (HFG).
More than 20 north-east jobs have been saved after oil and gas industry supplier Paradigm Flow Services (PFS) was rescued from administration by its parent.
Drilling has got under way on the Rowallan exploration well in the central North Sea, project partners said today.
Hague and London Oil (Halo) said today that it had received regulatory consent for its acquisition of Third Energy Offshore.
A North Sea oil and gas industry stalwart who hails from Aberdeen was recognised in the New Year Honours List.
A former Shetland port boss who recently retired after more than 40 years’ service has spoken of her pride at being made an OBE.
Forum Subsea Technologies has created a new remotely-operated vehicle (ROV) designed to drive cost efficiencies for North Sea operators.
The US added three active oil and gas rigs last week, even though U.S. oil prices have slid to about $45 per barrel.
There is a burgeoning sense of optimism sweeping the sector and the market feels much stronger than it did 12 months ago. The industry is definitely starting to recover and rebuild itself following three years of weak prices and significant cost pressures.
Aberdeen-based Aiken Group secured contracts worth more than £700,000 for its offshore cabin modules arm in the last month.
As we come towards the end of the year, it’s always a good time to pause and reflect on the last 12 months and set our sights on the year ahead.
It’s 2035.
The offshore industry has faced some extremely challenging times in recent years.
Hedge funds are keeping their cool in the most tumultuous end of the year for oil since the 2008 financial crisis, betting on better days ahead.
A fledgling subsea inspection firm has hailed a “fantastic” 2018 after increasing its turnover thirty-four times.
Offshore services firm Transocean has announced it has signed a rig and drilling deal with Chervon totalling more than £650 million.
Energy giant Equinor has completed the sales of two "non-core" Norwegian North Sea discoveries.
Lamprell has received a letter of intent for the construction and delivery of two jackup drilling units.
Oil continued on its rollercoaster ride, with volatility soaring on uncertainty over OPEC and American supply, a trade war between the U.S. and China and the Federal Reserve’s monetary policy.
The socialist government of Venezuela and its political opponents at home who have been starkly divided over the past two decades on the best path forward for the country, have suddenly united around a common theme: the century-old dispute with Guyana.
Bosses at Faroe Petroleum have ordered an independent valuation of the oil firm's assets as they seek to fend off a hostile takeover attempt.
An explosion at an electrical substation in Astoria, New York City, illuminated the skyline with a bright blue light and cut off power to LaGuardia airport, causing flights to be diverted or delayed.
Secret files have revealed how senior government figures were “vigorously opposed” to the landmark relocation of dozens of civil servants to Aberdeen in the 1990s.