Zennor completes First Oil buy, re-launches firm

Zennor Petroleum today confirmed it had completed the purchase of First Oil’s subsidiary First Oil Expro and Antrim Resources. The double move includes interests in the North Sea’s Mungo and Monan producing fields, Bacchus, Cormorant East and Causewa… Read More

Petroceltic to suspend shared amid uncertainty

Petroceltic today confirmed it would suspend its shares from trading on AIM, London’s junior stock exchange, effective immediately amid financial uncertainty. The move comes days after the firm’s largest shareholder, Worldview Capital, applied to Hig… Read More

Exclusive: Siccar Point makes bargain buy into Statoil’s Mariner

A new generation UK oil & gas junior is in the final stage of buying its way into the Mariner heavy oil field having agreed to purchase a chunk of JX Nippon Exploration & Production UK’s 28.89% stake. This is the first asset deal struck by … Read More

North Sea: Revitalising exploration at the crux of survival

Exploration in British waters has absolutely crashed and is now at its worst ever in the entire history of our still strategically vital offshore oil & gas industry. Just 13 exploration wells were drilled in 2015. Without exploration including, c… Read More

Oil extends advance above $36 as US explorers idle more rigs

Oil extended gains above $36 a barrel as U.S. drillers reduced the number of active rigs to the least in more than six years amid a global glut. Futures rose as much as 2.2 percent in New York and crude in London extended its longest rally since Nove… Read More

Coal mine gas leak kills 12

A gas leak at a coal mine in north-east China has killed 12 miners, state media reported. The accident happened at a mine in the city of Baishan in Jilin province, the official Xinhua News Agency said. Rescuers took one injured person to hospital and… Read More

Labour makes nuclear warning

Labour has warned lessons must be learned from the Tories’ “mistakes” in their handling of plans for a new nuclear power station at Hinkley Point. Shadow energy secretary Lisa Nandy has called for a nuclear strategy that does not co… Read More

Solar farms come to threatened wildlife’s rescue

Threatened wildlife including turtle doves and skylarks could benefit from a scheme which has been launched to create natural habitats at solar farm sites. The project by wildlife charity RSPB and clean tech company Anesco aims to boost wildlife at t… Read More

Abu Dhabi stocks enter bull market as oil spurs Mideast rally

Abu Dhabi stocks entered a bull market, leading Mideast gauges higher, as rising oil prices added to growing bullish sentiment across global equities. The ADX General Index climbed 3.1 percent at the close, extending the longest winning streak this y… Read More

Iran billionaire sentenced to death in oil fund fraud case

Iranian businessman Babak Zanjani was sentenced to death after being found guilty in a fraud case involving an oil fund, the state-run Iranian Students’ News Agency reported on Sunday, citing a judicial official. The court found enough evidence to co… Read More

EnQuest drafts in help to manage debts

EnQuest has reportedly drafted in help to manage its debt portfolio as it battles a depressed oil price environment. The North Sea independent oil and gas producer is understood to be poised to hire debt specialist Rothschild to help manage its portf… Read More

Statoil insists terms have been met to cut ties with COSL

Statoil today insisted it had met the terms to pull the plug on its COSL Innovator contract for its Troll licence. Geir Tungesvik, Statoil’s senior vice president for drilling, said: “The conditions for terminating the contract signed with COSL Offsh… Read More

Energy giant Npower to cut 2,500 jobs

Energy firm npower will announce this week it is to cut around 2,500 jobs, according to reports. Employees could be told in the coming days as RWE, the supplier’s German parent company, announces its financial results on Tuesday. The job cuts represe… Read More

Opinion: Why is Saudi Arabia even prepared to discuss supply restraint?

A second meeting has been pencilled in by the kingdom, Russia, Venezuela, Qatar and an unspecified group of oil producers (OPEC and non-OPEC) to talk again about the proposed output freeze, according to Nigerian petroleum minister Emmanuel Kachikwu. … Read More

Petrobras refinery fire near Houston injures one, company says

A fire at a Texas oil refinery operated by Petroleo Brasileiro SA temporarily closed the Houston Ship Channel and left one person injured. The blaze, which has been contained, started Saturday at the hydrogen desulphurization unit of the plant in Pas… Read More

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