Dagang NeXchange Bhd’s (DNeX) UK upstream oil and gas arm Ping Petroleum UK plc (Ping UK) has added three more North Sea oilfield licences to its portfolio.
Offshore energy’s trade body is pushing back against campaign damage to its reputation and political harm to its prospects.
Unpredictable tax changes on Britain’s oil and gas production are making the industry “uninvestable” to internationally mobile finance, it is claimed.
While climate change campaigners say fossil fuel emissions are already busting temperature limits, the case for continued supply is that there will continue to be demand.
UK-based Challenger Energy finalized the contract for its second offshore block in Uruguay on Monday, as hopes of oil and natural gas production in the South American country grow.
Saudis Continue Sending Oil via Tense Red Sea
by Bloomberg|Matthew Martin & Anthony Di Paola|Friday, January 26, 2024
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Saudis Continue Sending Oil via Tense Red Sea
Aramco is bucking threats on Red Sea vessels from Yemen’s Houthi rebels.
Image by sandsun via iStock
Saudi Aramco, the world’s largest oil company, is continuing to send tanker loads of crude and fuels through the southern Red Sea, where Houthi militants have for months been menacing merchant ships in response to Israel’s war in Gaza.
Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.
Energy giant BP has reported lower than expected profits despite global oil prices rising again.
LONDON, Oct 2 (Reuters) – Oil prices climbed $1 on Monday after suffering losses at the end of last week, as investors’ focus returned to a tight global supply outlook while a last-minute deal that avoided a U.S. government shutdown restored some risk appetite.
LONDON — British regulators on Wednesday gave approval for Norway’s energy giant Equinor
to develop the controversial U.K. offshore Rosebank field in the North Sea, just off the northwest coast of the Shetland Islands.
UK company Trinity Exploration & Production has found what it describes as “virgin oil in a super-mature basin” onshore Trinidad and Tobago with over 290 feet of net oil pay at the Jacobin-1 well.
he UK government has announced plans to allow a big expansion of drilling for oil and gas in the North Sea in a move that environmental activists have described as a taking a “wrecking ball” to the country’s climate commitments.