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A £1 billion project to develop two oil fields in the North Sea has been given the go-ahead.

The Department of Energy and Climate Change has approved the Western Isles project which will develop two discovered oil fields called Harris and Barra in the Northern North Sea, 99 miles (160km)…

The Department of Energy and Climate Change has approved the Western Isles project which will develop two discovered oil fields called Harris and Barra in the Northern North Sea, 160km east of the Shetlands and 12km west of the Tern field.

The nine-well Western Isles development is expected to produce…

BP has made yet another non-operated asset sale in the North Sea after agreeing to sell its interest in a gas field to compatriot SSE.

The UK supermajor is pocketing $288 million in the all-cash deal for its 50% holding in the Sean gas field in the southern part of…

The International Energy Agency (IEA) has raised its estimates for oil demand next year but says soaring shale production in America should ensure there are no shortages in supply.

Improving economic conditions in China and the US is likely to result in about 865,000 barrels of extra crude demand during…

Energy and Climate Change Secretary Edward Davey today announced that exploratory hydraulic fracturing (fracking) for shale gas can resume in the UK, subject to new controls to mitigate the risks of seismic activity.

Mr Davey said:

“Shale gas represents a promising new potential energy resource for the UK. It could contribute…