Shell to speed up cost cuts after low oil price hits profits
The head of Shell has said he would accelerate the cost savings expected from its recent £35bn takeover of rival BG Group, as the company reported a near 60 per Continue Reading
BP Reports Surprise Profit on Strength in Refining, Trading
BP Plc, the first oil major to report first-quarter earnings, posted a surprise profit as a stronger-than-expected refining and trading performance helped mitigate the lowest crude prices in more than Continue Reading
Oil Majors Lose Faith In The North Sea – 100 Shut Downs Looming
Oil production from the North Sea posted gains in 2015 for the second year in a row, but the recent uptick in output could be a blip in the region’s Continue Reading
British shale oil may be ready to boom
Report finds “Gatwick Gusher” inland shale oil basin could add billions of dollars to the British economy and potentially offset natural declines from the North Sea. Photo courtesy of U.K. Continue Reading
BP Shareholders Reject Oil Giant’s Pay Policy
Following the company’s annual meeting Thursday, the oil giant said 59% of the votes cast were against the company’s executive compensation decisions for 2015. That included a roughly 20% increase Continue Reading
New oil coming from North Sea
The first volumes of oil are flowing from a well at the Solan field in the North Sea, which should reach steady production rates yet this year, Premier Oil said. Continue Reading
BP Shareholders Revolt Over CEO’s Salary
BP is facing a revolt from its shareholders over the salary of its CEO Bob Dudley. Dudley’s salary jumped 20 percent in 2015 to $19.6 million, the same year in Continue Reading
Rapid decline of coal use leads to drop in UK emissions
Plummeting coal use in 2015 led to a fall of 4% in the UK’s annual carbon dioxide emissions, according to government energy statistics published on Thursday. Coal is now burning Continue Reading
Oil Explorers Face Challenge to Secure Financing as Oil Prices Fall
Just a few years ago, when oil sold for about $100 a barrel, banks here were lining up to give international oil explorers access to billions of dollars to finance Continue Reading
United Kingdom increases oil production in 2015, but new field development declines
After many years of decline, production of petroleum and other liquids in the United Kingdom (U.K.) increased by about 100,000 barrels per day (b/d) in 2015. The largest contribution to Continue Reading