News Archive for: November 2014

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm.

The report, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review, calls on the new…

North Sea oil production faces being wiped out unless George Osborne acts swiftly in next week’s Autumn Statement to slash taxes on drillers already being squeezed by a rout in the price of crude since June.The Chancellor needs to aggressively cut taxes on oil company profits, or risk seeing…

OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to US shale drillers.

The 12-nation Organization of Petroleum Exporting Countries kept its output target unchanged even after the steepest slump in oil prices since the global recession, prompting speculation…

Oil prices fell in early Asian trading on Thursday as it became unlikely that producer club OPEC would announce large output cuts during a meeting this week, and after Chinese and U.S. stocks increased.The Gulf producers within the Organization of the Petroleum Exporting Countries (OPEC) – Saudi Arabia, Kuwait,…

Shale gas provided the largest share of American natural gas production last year, new figures have shown.

The US Energy Information Administration said withdrawals reached a new high of 82billion cubic feet per day (bcf/d) last year.

Shale gas well withdrawals jumped from 5bcf/d in 2007, to 33bcf/d in 2013, representing…