News Archive for: January 2015

EnQuest, an independent oil and gas exploration and production company has said it will slash its 2015 capital investments.

Back in November 2014, EnQuest said the indicative level for capital investment for the North Sea in 2015 was expected to be in the range of $700 million to $800 million, with…

EnQuest has delivered a strong operational and financial performance in 2014, with provisional production of 28,267 Boepd, up 17% on the prior year, at the high end of EnQuest’s guidance.  This reflects the continuing strength of field reservoir performance, top quartile production efficiency from EnQuest’s existing producing assets and…

Brent crude climbed in pre-trading in London following the news of the death of Saudi Arabia’s King Abdullah bin Abdulaziz al-Saud in the early hours of Friday morning.
The benchmark for crude was up 1.7pc to around $49.36 per barrel as traders weighed up the possibility for political uncertainty in…

Oil prices will rebound rather than extend their decline to as low as $20 a barrel because a collapse since June isn’t merited by global supply and demand, OPEC’s Secretary-General said.

Producers outside the Organization of Petroleum Exporting Countries should be first to reduce their output amid a surplus that’s…

Italian oil group Eni has warned oil could shoot up to $200 a barrel if the Opec cartel fails to cut supplies.

Eni’s chief executive, Claudio Descalzi, said the oil industry would cut capital spending by 10-13% this year because of slumping prices.

He said that would create longer-term shortages and…