News

US senators introduce bill to lift ban on drilling in Virginia
Thursday, May 23, 2013 US Democratic Senators Mark Warner and Tim Kaine have introduced a new bill to lift the federal moratorium on natural oil and gas exploration and drilling off the coast of...

Today's oil prices plunge over dismal China data, firm dollar
Thursday, May 23, 2013 Oil prices decreased today after China released fresh data, which painted a gloomy picture of the country's strength of recovery, while a firm dollar also added additional pressure on...

EU Parliament approves stringent oil and gas drilling legislation
Wednesday, May 22, 2013 The European Union (EU) Parliament has approved a new directive on the safety of offshore oil and gas...

Talisman Energy produces oil from HST/HSD development, Vietnam
Wednesday, May 22, 2013 Canada-based energy firm Talisman Energy has started oil production from its Hai Su Trang and Hai Su Den (HST/HSD) development, offshore of...

Oil prices slide over gasoline stockpiles, summer demand concerns in US
Wednesday, May 22, 2013 Oil prices plunged today, following data which showed that gasoline stockpiles increased suddenly in the US, and on concerns that peak summer demand in the world's top oil consumer may not...

Santos begins oil production from Fletcher Finucane, Australia
Tuesday, May 21, 2013 Santos has commenced oil production from the Fletcher Finucane project in the Carnarvon Basin offshore of Western Australia, ahead of...

European Parliament members support offshore oil platform safety regulations
Tuesday, May 21, 2013 Members of the European Parliament (MEPs) have supported new regulations to improve the safety of offshore oil and gas platforms, in spite of criticism from Green...

Today's oil prices positive as supply concerns rise over Middle East tensions
Tuesday, May 21, 2013 Oil prices remained positive today, mainly due to supply concerns rising from escalating tensions in the Middle East, while balanced apprehensions about moderating demand growth kept prices...

Today's Brent crude steady over positive economic data, strong equity markets
Monday, May 20, 2013 Brent crude was steady today, boosted by optimistic economic data and strong equity markets, while prices were still under pressure due to a moderate outlook for demand and excess...

Senator recommends US Government join EU oil price investigation
Monday, May 20, 2013 Senate Energy and Natural Resources Committee Chairman Ron Wyden has recommended that the Justice Department take part in a European Union (EU)-launched probe in relation to oil price...

Statoil wins oil and gas blocks offshore Brazil
Monday, May 20, 2013 Statoil announced that it has secured six oil and gas licences in Brazil's 11th licensing round, reinforcing its position in the Espirito Santo...

Statoil acquires BP's offshore exploration licences in Australia
Friday, May 17, 2013 Statoil has signed a farm-in agreement with BP to buy a 30% equity interest in four exploration licences offshore of South...

BP to seek British PM intervention as Gulf spill costs spiral
Friday, May 17, 2013 UK-based energy firm BP is said to be considering asking UK Prime Minister David Cameron to intervene over the spiralling cost of compensation that US companies are demanding, in connection to...

Today's oil prices slide over demand growth concerns, firm dollar
Friday, May 17, 2013 Oil prices dipped today after the US released disappointing data, which sparked fresh concerns over demand growth. Prices also came under pressure due to a firm...

Noble secures jackup rig contract for Statoil's Mariner oil field
Thursday, May 16, 2013 Switzerland-based Noble has secured a drilling contract from Statoil for a newbuild ultra-high specification jackup rig for the Mariner field in the UK sector of the North...

BP secures deepwater exploration blocks in bidding round in Brazil
Thursday, May 16, 2013 UK-based BP, along with its partners Total, Petrobras and Petrogal, has secured exploration rights for eight deepwater blocks offshore of Brazil, in the Brazilian National Petroleum...

Today's oil prices slide on weak factory data; US stockpile drop caps further fall
Thursday, May 16, 2013 Oil prices fell today after data showed that US factory production had dropped unexpectedly, reducing the outlook for demand; however, a surprise reduction in US crude stockpiles helped...

BP to commence proposed deepwater drilling in Australia in 2015-2016
Wednesday, May 15, 2013 UK-based BP has announced it is planning to begin deepwater drilling off southern Australia in late 2015 or early 2016 and will obtain a drilling rig by the end of...

Today’s oil prices rise as US dollar shrinks; supply outlook caps further rise
Wednesday, May 15, 2013 Oil prices slipped today, due to concerns about increasing supplies from the US and a weak outlook for global demand...

European Commission raids BP, Shell offices in price fixing probe
Wednesday, May 15, 2013 Investigators from the European Commission (EC) carried out raids at BP's offices in Canary Wharf and Shell's offices in central London and Rotterdam on Tuesday, as part of a probe into...