Statoil has made a third discovery of crude oil in the Flemish Pass Basin, offshore Newfoundland – a Canadian island. The Norwegian firm said it is assessing the discovery on the Bay du Nord field – located around 500 kilometres northeast of St. John’s on Canada’s East Coast – and “developing a greater understanding” of […]

The Aldous and Avaldsnes oil discoveries in the North Sea may be worth between 500 million and 1.2 billion barrels of recoverable oil, according to Statoil. The oil company say the discovery will be one of the ten largest oil finds ever on the Norwegian continental shelf (NCS). The company announced on 8 August they […]