US and China sign shale oil deal

A US energy company has signed a co-operation agreement with a Chinese firm to develop a shale oil block in China. China is believed to hold the world’s largest recoverable shale gas resources and aims to replicate the production boom seen in the US, however, it is still in the early stages of exploration for […]

BP & Shell plan £3bn North Sea project

A group of oil firms led by BP and Shell are planning a £3billion project in the North Sea despite tax levels that many have branded punitive. The oil giants will re-develop two existing oilfields that could produce around 450 million barrels until 2035 and beyond. Bob Dudley, group chief executive at BP said the […]

SSE buys North Sea assets for £200m

Scottish and Southern Energy has spent almost £200m to buy North Sea natural gas and infrastructure assets from global exploration and production firm Hess. Natural gas reserves totalling around 300bn cubic feet have been acquired and additional, less certain resources of gas may also be identified through further exploration. Gas production from these assets is […]