News Archive for: February 2015

Three months after Saudi Arabia made clear it was going to let oil prices keep tumbling, the strategy is showing signs of working.

U.S. drillers are idling rigs at a record pace, gutting investment plans and laying off thousands of workers.

Those steps highlight how the Saudi-led OPEC decision on Nov….

Responding to the Secretary of State’s commission to assess the impact of the sharp decline in global oil prices on the UK oil and gas industry, Oil and Gas Authority (OGA) Chief Executive, Dr Andy Samuel today published his initial findings and issued an urgent call to action for industry, Government…

Hungary’s MOL Group said yesterday it expects its UK North Sea business to become a “hub of know-how technology”.

Describing its growing UK presence as “low-risk”, it outlined a substantial work programme for the area in 2015.

The firm’s latest exploration and production update coincided with results showing pre-tax losses in…

Oil & Gas UK has said that a new report on offshore exploration, investment and production published today (February 24) provides striking evidence of how rising costs, taxes and inadequate regulation have taken their toll on the UK industry’s international competitiveness.

The Activity Survey 2015 highlights the urgency with which…

Brent edged above $59 a barrel on Tuesday, after a 2% slide in the previous session, buoyed by cautious optimism on the outlook for the global economy.
But the benchmark is still 6% off a peak reached a week ago as worries about oversupply fester. Brent had risen 26 cents…