New data released yesterday by the US Energy Information Administration show that for the first nine months of 2015, most (50.8%) of the crude oil produced in the Lower 48 states were light oils with an API gravity above 40 degrees.
Reserves of the Repsol-Sinopec-operated pre-salt block BM-C-33 in the Campos Basin offshore Brazil are in for an upgrade following several discoveries.
An inspection report on the safety of a pipeline at the centre of the UK's biggest oil leak in a decade was overdue by three years, officials revealed.
THE worst North Sea oil leak in over a decade has been halted - but last night officials were reluctant to declare the crisis over.
The cost of oil surged to a new record near $144 a barrel yesterday as oil company bosses gathered in Madrid to discuss rocketing prices.