Latest news
BP to invest £3 billion in North Sea fields despite tax hike
The oil giant BP is planning to invest £3 billion in developing the Schiehallion and Loyal oil fields in the Shetland Isles, despite the controversial oil tax hike initiated by the British government.
read more... 14/07/2011
Daily energy Market Overview, Thursday, July 14, 2011
Crude price was steady on Thursday on rising concerns over the budget deficit and credit rating of the United States. By 06:27 GMT, U.S. crude for August dropped 2 cents to $98.03 a barrel, still up about 2% during this week, while Brent dropped 30 cents to $118.48, less than $9 from the highest of this year, above $127.
read more... 14/07/2011
Petrofac extends Nord Sea contract with Marathon
Petrofac, a British provider of integrated facilities services to the oil, gas and energy production and processing industries, said its Offshore Engineering & Operations, or OE&O, business has been awarded a contract renewal by Marathon Oil, a United States-based oil and natural gas exploration and production company.
read more... 13/07/2011
Daily Energy Market Overview, Wednesday, July 13, 2011
Oil prices ended higher on Tuesday, with ICE Brent crude for August delivery having recovered from two consecutive days of losses, ending at $117.75 a barrel, up 0.44%, as the dollar dipped against a basket of currencies, but gains were limited on persisting concerns over the euro zone debt crisis. U.S. crude oil futures ended 2.4% higher on Tuesday ahead of inventory reports likely to indicate that domestic crude stocks dropped last week. On the New York Mercantile Exchange crude for August delivery settled at $97.43 a barrel.
read more... 13/07/2011
Daily energy market overview, Tuesday, July 12, 2011
Oil prices sharply dropped on Tuesday on renewed concerns over the outlook for the global economy following concerns that politicians could not stop the debt crisis in Europe from widening to Italy and Spain.
read more... 12/07/2011