North Sea Oil Rig

Increased North Sea oil and gas production boosts UK economic growth

Official figures released by the Office for National statistics (ONS) on Tuesday show that the UK’s economy rose by 0.7% in second quarter of this year, compared with growth of 0.4% in the first quarter of 2015. The ONS Gross Domestic […]

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Oil Drumsg

Crude oil prices rise as OPEC votes to maintain production levels at 30m barrels

  Oil prices rose by around 0.6% on Friday, following a decision by ministers from the Organization of Petroleum Exporting Countries (OPEC) to maintain current oil production levels at

Oil Rig

BP to cut 300 North Sea jobs

Following a review of its North Sea operations, oil company BP is to cut 200 jobs and 100 contractor roles, the BBC's Scotland Business news service revealed on

Oil Pump in Siberia, Russia

Rosneft plans no buyout of TNK-BP minorities

OAO Rosneft (MCX:ROSN; LON:ROSN) does not intend to buy out shares from oil producer TNK-BP Holding OAO's (RTB:TNBP) minority stakeholders, the Russian oil and gas major's CEO Igor

Oil rigs at sunset

Technip acquires Norwegian Ingenium

French oil services group Technip SA (EPA:TEC) said today it had agreed to buy Norwegian offshore engineering and services contractor Ingenium AS, without specifying how much it had

Oil pipes

Puma Energy to buy Australia’s Ausfuel

Switzerland-based oil company Puma Energy LLC said today it had agreed to buy Australian fuel retailer Ausfuel Pty Ltd from private equity firm Archer Capital Pty Ltd and

Oil Pump in Siberia, Russia

Rosneft, AAR set to seal TNK-BP deal in December

Russian oil and gas major Rosneft OAO (MCX:ROSN) said on Friday it expects to reach a binding deal in December for the planned purchase of a 50% stake

River Niger

Shell’s $400 million Niger Delta security funds better invested on local communities — report

Oil giant Shell has spent almost $400m in three years guarding its installations in the Niger Delta, including maintaining its own 1,200-strong internal ‘police’ force, running a network

Oil Well

Abraxas, Blue Stone Oil & Gas to break-up Blue Eagle JV

Texas-based oil and natural gas exploration and production company Abraxas Petroleum Corp (NASDAQ:AXAS) said it had signed a letter of intent (LoI) to break-up its Blue Eagle Energy

Gas Distribution

Shell names new deadline for Cove Energy bid

Royal Dutch Shell Plc (LON:RDSA) announced on Thursday a new extension until 25 July for its £2.20 ($3.41/€2.80) a share takeover offer for Cove Energy Plc (LON:COV), after

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