Latest news
Iran to jointly build an oil hub with China
China and Iran have inked a deal to jointly develop an oil terminal on Qeshm Islandin the southern Persian Gulf, which will turn the island into an important hub for oil production and reserves.
read more... 17/06/2016
Statoil gets the green light to develop its Oseberg Vestflanken 2 project
Norway’s Ministry of Petroleum and Energy has given Statoil the green light for the development of its Oseberg Vestflanken 2 project.
read more... 16/06/2016
BP inks $1.3 billion agreement with Det norske to fuse Norwegian oil and gas businesses
Norwegian company Det norske oljeselskap (Det norske) has inked a $1.3bn deal with BP to fuse with BP Norge in a bid to form the biggest Norwegian independent oil and gas producer.
read more... 14/06/2016
Russian firm brings more oil online in Iraq
Output from three new wells brought online at the Badra oil field add to the overall daily production from OPEC-member Iraq, as indicated by a Russian field operator.
read more... 10/06/2016
More than three in ten UK oil and gas firms plan further redundancies, survey shows
More than four in 10 of the UK’s oil and gas companies are envisaging cutting costs further amid the downturn in the industry, according to a new survey from the Bank of Scotland and Lloyds Bank Group.
read more... 08/06/2016