News Archive for: August 2015

Brent and US crude futures hit fresh 6.5-year lows on Monday to drop below the latest supports of $45 a barrel and $40 a barrel each as investors fretted that a slowing Chinese economy will lead to weaker demand amid a global supply surplus.Other commodities also hit fresh lows…

UK-based independent oil firm EnQuest revealed Wednesday what analysts described as “solid” first-half results.

The firm’s 1H 2015 revenue decreased to $444 million from $503.8 million in 1H 2014, while 1H 2015 profit at the EBITDA level was $226.7 million – representing a 20.2-percent decrease on 1H 2014. Average production…

EnQuest, an independent UK-based oil and gas company, has informed that first oil from its Alma/Galia development, located in the UK North Sea, is anticipated within a few weeks.

EnQuest sanctioned the project development in November 2011.

The Alma and Galia fields, tied back to the EnQuest Producer floating production storage and offloading…

Inflation is expected to have remained at zero when official figures for July are published today – with the strength of the pound and the slide in the oil price holding back the cost of living.

Sustained low inflation is delaying the timing of any interest rate hike by the…

OPEC could potentially boost crude oil production to 33 million barrels a day, the most ever, after international sanctions are removed against Iran amid a global supply glut, according to the country’s OPEC representative.

The global oil market is already in surplus by about 3 million barrels a day, with…