News Archive for: March 2014

Austrian oil firm OMV has continued its expansion into the North Sea after snapping up more fields West of Shetland as it eyes a new hub for the region.

The firm, which upped its stake in the region last year following a £1.6billion deal with Statoil, has paid another £30million…

BP is closer to restoring its operations and reputation in the US after agreeing a deal with environmental protection authorities that it will enable the oil firm to bid for new drilling rights in the Gulf of Mexico.

The British-based group had started legal proceedings against the US environmental protection…

The Chancellor must abandon a planned North Sea tax rise in the Budget this week or more oil and gas projects will be scrapped, the industry has warned.

George Osborne announced in the Autumn Statement a surprise clampdown on what he said was “abuse” of legal tax avoidance schemes by…

GDF SUEZ has commenced gas production from the second of two development wells on the Juliet field on the 9th of March, a subsea development on the western flank of the Southern Gas Basin, 39 km east of the Lincolnshire coastline in the United Kingdom. This follows first gas…

Shell is to slash spending on its US upstream operations by a fifth this year as the oil giant continues to refocus in the wake of last year’s profits drop.

The Anglo-Dutch supermajor saw profits slide 48%, and has already put three of its North Sea fields up for sale…