Atlantic Offshore Statoil cancelled a contract for a drillship with Seadrill, which it had intended to use for drilling operations in the Atlantic, near Newfoundland. The cancellation is the second Continue Reading
BP Plc is seeking to extend the production life of one of its biggest operated deepwater U.S. Gulf of Mexico fields with a major water injection project. The company announced Continue Reading
Pity the poor petro-states. Once so wealthy from oil sales that they could finance wars, mega-projects, and domestic social peace simultaneously, some of them are now beset by internal strife Continue Reading
Oil prices have pushed above $50 a barrel for the first time this year as investors weigh the impact of supply disruptions and US figures showing a decline in crude Continue Reading
The price of Brent crude rose above $50 a barrel on Thursday, as declines in U.S. crude stocks boosted the price of a commodity that is suffering from a two-year Continue Reading
Crude oil drips from a valve at an oil well operated by Venezuela’s state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas Continue Reading
Some Signs of Recovery Amid Uncertainty Global crude supplies will start to dwindle in as little as two years, boosting prices, as the industry cuts investment to weather the worst Continue Reading
Since its creation more than 40 years ago, the International Energy Agency has side-stepped predictions of OPEC crude production, acutely aware that the producer group’s output quotas made the job Continue Reading
The price of spot cargoes of liquefied natural gas (LNG) in Asia has broken its long-standing link to crude oil this year, a development likely to fuel tensions in an Continue Reading
A report by Rystad Energy has revealed that new oil discoveries in 2015 totaled 12.1 billion barrels, which is the least amount of new oil discovered in a single year Continue Reading
