The UK claims a large part of the area in which Russia found its vast reserves. MPs warned that the surveys were a precursor to drilling rigs being brought in
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London-listed oil major BP PLC recently announced its first-quarter financial results, which fell below market expectations. The company reported a profit of $2.72 billion, missing the forecasted $2.87 billion and
A half-century ago, Philip Verleger, a well-known energy analyst and adviser to American companies that wanted to sue Opec over price fixing, became embroiled as a consultant in an antitrust
Saudi Arabia’s state owned oil giant, the Saudi Arabian Oil Company (SAOC), is planning to spend almost £100bn on crown prince Mohammed bin Salman mega-projects despite a drop in profits.
Shell is set to buy back shares worth $3.5bn in the coming quarter, after its first-quarter profits were higher than expected at almost $8bn. The company said it would pay
The government will announce Friday that fossil fuel companies can now explore for oil or gas beneath offshore wind power sites. Campaigners say this is a further sign that ministers
ExxonMobil oil traders in Brussels who refuse to move to London because of low pay are at risk of losing their jobs. Unions warn that staff at the multinational company
The World Bank said that a serious increase in tensions in the Middle East could push the oil price to $100 (£80) per barrel, and reverse the recent decline in
The US has reimposed sanctions on Venezuelan oil, claiming that President Nicolas Maduro’s socialist revolution government “failed” to meet its commitments of holding a fair and free presidential election in
Three of the largest commodity traders in the world said that their combined profit of $23bn last year shows they can continue to grow strongly without turning to public markets.
A UK energy firm is about to begin drilling in the largest oil field found in the North Sea for at least 20 Years despite a crackdown of net zero
Citadel, a hedge fund giant, says that oil markets will become “extremely tight”, in the second half this year. This is because Opec+ has control over the market and can
The UK is now dangerously exposed after squandering its most valuable asset. A massive, deserted oil platform lies abandoned in the North Sea. Brent Charlie is the final remnant of
