News Archive for: March 2013

BP announced today that it intends to carry out a share repurchase, or buy-back, programme with a total value of up to $8 billion.

Today’s decision to buy back shares follows the completion yesterday of the sale of BP’s 50% interest in TNK-BP to Rosneft. The programme is expected to…

Decom North Sea (DNS), the offshore oil & gas decommissioning forum, has welcomed changes in the Budget that will boost the sector by giving increased certainty, in turn leading to new jobs and investment in new technology..

With annual decommissioning expenditure in the North Sea forecast to top £1billion within…

UK independent Premier Oil has posted record profits for the fifth consecutive year as revenue rose on the back of increased production.

The company posted an after tax profit of $252 million, up from the previous record of $171.2 million booked in 2011.

Helping boost profits was the record high $1.4…

Mr Osborne said “shale gas is part of the future and we will make it happen”, as he unveiled measures to support the new industry, including gas field allowances to promote early investment in the sector.

Shale gas is exploited through drilling into rock and fracturing it with high pressure…

Saudi Arabia signaled Monday that it intends to remain a world energy powerhouse for the foreseeable future, partly by exploiting new technology which has unlocked vast quantities of oil and natural gas in North America.

Saudi Arabia, the world’s largest exporter of crude oil, will push ahead this year with…