Obama and Cameron work on fuel prices

The UK and America could work together using reserve oil supplies to bring down fuel prices. Prime Minister David Cameron, who has been on a visit to the United States this week, said he and the President wanted to “smooth out” oil prices. Experts however, aren’t so sure releasing supplies would have much effect. Reports […]

US miner pronounced dead following fatal accident

A US coal miner was reported dead last week after a fatal accident at an underground mine in West Virginia. The mine has been shut temporarily following the accident. Report suggests the man was hit by material from a side wall in the Kingston #2 mine in West Virginia. He was rushed to hospital where […]

US firms learning important lessons from shale

The United States has been learning vital lessons in the shale gas industry and as a result is creating opportunities many didn’t think were possible. This is according to geologist Allen Gilmer who runs Drillinginfo, an educational firm which offers statistical insights for the oil and gas industries. Speaking in London last week Mr Gilmer […]

Income spent more on fuel than rent every month

People in the UK are spending more on fuel than their rent every month, according to FairFuelUK. The organisation fighting for lower fuel prices was seen protesting alongside hundreds of supporters outside Parliament last week to encourage the Government to reduce fuel duty in the UK. According to FairFuel Campaign Leader, Quentin Willson, consumers are […]

UK offshore sector ‘needs a strategic development plan’

The UK needs a clear strategic direction in order to advance its offshore capabilities. This was the message from Paul Flynn, CEO of specialist offshore energy recruiters Earthstaff, who told ELN that despite shortages of British candidates the future of our offshore industries could be bountiful, with the right approach. Mr Flynn said: “Such an […]

Fuel duty regulator called for on Fair Fuel day

Plaid Cymru leader Elfyn Llwyd has reignited the fight for a fuel duty regulator to stop prices rising too much at the pump. A protest is taking place later today outside Westminster to campaign for cuts fuel duty on petrol and diesel. The price at the pumps soared to over £1.50 a litre this week. […]

US becomes net exporter of oil and gas

The US exported more oil and other fuel products than it imported in 2011 for the first time since 1949. This was according to a recent report from the US Department of Energy, which has revealed how much America has ramped up production of petroleum over the last few years. Shipments abroad of petroleum products […]

BG Group secures $1.8bn Brazilian finance

BG Group has secured approval for $1.8 billion (£1.13bn) from the Brazilian Development Bank to fund the company’s interests in the Santos Basin, off the coast of Brazil. Subject to the completion of a final agreement, the funding will be used to build eight floating production, storage and offload facilities. BG Group Chief Financial Officer […]

Stalling oil and gas growth is being ‘masked’

The UK’s offshore oil and gas sector is “fighting hard to stand still” when it should be thriving, claims a leading trade body. Oil & Gas UK which represents more than 200 offshore firms yesterday warned the sector’s shrinking growth is being “masked” by the short-term success of a few large projects. The warning comes […]

Market Report: UK gas levels are low

Volatility remained in the wholesale market last week as geopolitical events kept oil moving from strength to strength. These were the words of npower Optimization Desk Manager, Magali Hodgson who said bullishness was seen across all fuel contracts. Magali Hodgson told ELN: “Tensions over Iran issues became heightened together with increasing violence in Syria and […]