Oil Industry headlines from around the world, updated daily.
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North Sea oil review to look at maximising UK production
Malcolm Webb, chief executive of Oil and Gas UK, said there would be no return to the "glory days of 2000" when the North Sea generated 4m barrels of oil equivalent (BoE) a day, but production could rise from the current 1.5m to 2m BoE by 2017. "Too ...
Climate change threat to North Sea oil and gas output from increasingly ...
UK's North Sea oil and gas sector getting safer: report
Sir Ian Wood to Lead Review of UK's North Sea Oil and Gas Industry
Forties crude oil bucks wider sweet North Sea crude trend on greater demand
North Sea Forties crude oil has garnered greater support than some other sweeter North Sea grades recently from arbitrage flows from the region and healthy demand for sourer crudes. The Forties crude differential to Dated Brent rose to plus $0.095/b ...
The Shifting Dynamics of the WTI-Brent Spread
Total Buys Forties Crude; Urals Retreats From 10-Month High
Gavin McCrone backs new North Sea oil fund, but warns of perils
Gavin McCrone, author of a previously-secret civil service paper on the potential value of North Sea oil to Scotland, has again backed calls for oil revenues to be ploughed into an oil fund – with a warning that to do so would carry "extremely ...
CNR unveils £300m investment for Ninian oil field in North Sea
About £300m is set to be invested in a bid to extend the life of one of the oldest oil fields in the North Sea. CNR International said it was preparing to make the investment after the UK government approved an application for a brownfield allowance ...
CNR pumping £300m to extend life of Ninian oil field
CNR International to invest £300m to extend Ninian field production
Brownfield allowance supports £300m investment by cnr international
Some Production Resumes at North Sea Oseberg Oil Field
LONDON - The Oseberg oil-field center in the Norwegian North Sea, which closed Monday following the activation of a gas alarm, has resumed partial production. "Some production has resumed at fields producing over [the] Oseberg [area]," said a ...
North Sea oil field shut down again
Production has been disrupted for the second time in a month at one of the UK's biggest North Sea oil fields. Nexen's Buzzard field, about 60 miles north east of Aberdeen, was shut down after equipment failure led to intermittent output at the weekend.
North Sea Forties at Two-Week High; Buzzard Oil Field to Restart
Proactive Investors UK
Farm-out deals reduce Ithaca's North Sea exploration costs
The Aberdeen-based oil and gas firm has farmed out 25% holdings in two licences west of Shetland to a division of Edison, an Italian energy firm which is expanding in the North Sea. Edison has agreed to pay a share of the costs of a well on the ...
Ithaca Energy kicks off Stella field development
Ithaca Energy Inc - Stella Drilling Commences
Ithaca commences Stella field drilling
North Sea oil hopes buoyed by tie-up
The oil produced is stored in a seabed storage reserve before being collected by a tanker. The initial focus of the new venture will be the UK continental shelf. In the North Sea there are 88 fields with 15 million barrels of oil or gas which Enegi Oil ...
BMI Unit Shunned by British Airways Plans North Sea Oil Shuttle
BMI Regional, spurned by British Airways (IAG) when it bought the former British Midland unit of Deutsche Lufthansa AG (LHA), plans to target oil industry executives with services across the North Sea ignored by bigger carriers. BMI Regional will ...
Liberal Democrat Voice
Review of North Sea oil and gas
Liberal Democrat Voice
Ed Davey, Secretary of State for Energy and Climate Change, has launched a review of the North Sea oil and gas industry, headed by Sir Ian Wood. In the Financial Times, Ed Davey is quoted as saying: I expect it to say tough things to industry, as well ...