Scottish oil and gas revenues rose 18.2% last year

This is despite total production falling by around 1.7%

US oil refineries ‘running at near-record highs’

The four-week average of US gross refinery inputs has surpassed 18 million barrels per day for the first time since 1998

Tesla losses in second quarter of 2018 exceed $717m

However, the tech firm’s revenues exceeded expectations, totalling $4bn in the three months leading up to June

Oil and gas investment ‘to eclipse previous three years’

Between 12 and 16 oil and gas developments could get the go-ahead this year, unlocking a total investment of around £5 billion

Statoil to invest up to NOK2bn in digital technology

Its new centres, which will be connected to its fields on the NCS, are expected to help increase value creation by more than $2 billion (£1.4bn) from 2020

Centrica launches new exploration and production firm

A major new oil and gas company has been launched. Spirit Energy, a joint venture which combines Centrica’s exploration and production business with Bayerngas Norge, has started trading as an independent oil and gas operator. Production from the combined portfolios is expected to be around 50 million barrels of oil equivalent (mmboe) from 27 fields […]

BP starts production from giant Oman gas field

Production has started at a giant gas field in Oman. Phase One of the Khazzan field, operated by BP in partnership with Oman Oil Company Exploration and Production, is expected to plateau at one billion cubic feet of gas per day (bcf/d). Once the second phase is up and running, production is expected to rise […]

Scotlands oil and gas production up 2.9%

Scottish oil and gas production increased by 2.9% in 2016-2017 compared to the year before. That’s according to new figures release by the government, which show that production reached an estimated 74.7 million tonnes of oil equivalent (mtoe), accounting for 82% of the UK total. This is up from an 80% share of Britain’s output […]

New oil, gas guidelines to boost production efficiency

New industry guidelines designed to boost production efficiency on the UK Continental Shelf (UKCS) have been published. They aim to address gas compression losses, which accounted for more than 40 million barrels of oil equivalent (boe) in unplanned production losses in 2015. Between 2004 and 2012, the UKCS also faced “significant challenges” of a sustained […]

US crude oil production up

Crude oil production in the US increased for the second consecutive month in November last year. According to the Energy Information Administration (EIA), increased drilling activity in the Permian region, which spans Texas and New Mexico, as well as the start of a number of new projects in the Federal Offshore Gulf of Mexico (GOM), […]