Oil and gas activity is beginning to return to the Gulf of Mexico this week after Hurricane Barry swept through the region and up into Louisiana.
Oil firm Serica Energy today completed the acquisition of stakes in three North Sea fields from energy giant BP.
Oil firm Serica Energy has announced a second deal in two days for stakes in the Bruce and Keith fields in the UK North Sea.
Australian-headquartered firm BHP has revealed the largest purpose-built artificial reef in the Southern Hemisphere off Exmouth in Western Australia.
Aberdeen-based TEMS international has been awarded a £1million contract with US explorer Murphy Oil.
Shell and private equity firm Blackstone have agreed to make a joint takeover bid for the US shale division of BHP, the world's biggest miner, a news report said.
North-east energy service firm Proserv said yesterday it had won £3million-worth of contracts in the Asia Pacific region.
Woodside Petroleum Ltd. may look to funnel gas from the Scarborough field off Western Australia to one of its existing liquefied natural gas plants after agreeing to a $400 million deal to buy half of BHP Billiton Ltd.’s stake in the remote offshore resource.
BHP Billiton Ltd. (BHP), the biggest overseas investor in US shale, will cut the number of its rigs there by about 40% as plunging petroleum prices add to concerns about lower iron ore earnings. Drilling and development spending on US onshore oil and gas fell to $1.9 billion in the six months to December 31 from $2.1 billion a year ago, the Melbourne-based company said today in a statement. BHP will cut the number of active rigs to 16 from 26 by July, it said. Brent crude, a benchmark for more than half of the world’s oil, declined 48 percent last year as increasing output in the US contributed to a global glut.