Largest US onshore oil discovery found for 30 years in Alaska

The largest onshore US oil discovery in 30 years has been made in Alaska. Oil and gas firms Repsol and Armstrong Energy drilled the Horseshoe-1 and Horseshoe-1A wells in the winter of 2016-2017, which confirmed the Nanushuk play on the North Slope could amount to approximately 1.2 billion barrels of recoverable light oil. The Horseshoe wells […]

Spain’s Repsol faces $5.5bn claim from Chinese firm

Spanish oil firm Repsol has announced it faces a $5.5 billion (£3.74bn) arbitration claim from a Chinese state-controlled company. China’s Sinopec and its subsidiary Addax Petroleum UK are seeking repayment of the investment they made in Talisman Energy. They invested in the British subsidiary (TSEUK)  of the Canadian firm – bought by Repsol last year – in […]

Oil and gas bosses call for ‘effective’ climate deal

The CEOs of 10 global oil and gas companies have called for an “effective” climate change agreement at the COP21 conference in Paris. BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total make up the Oil and Gas Climate Initiative (OGCI). They recognise the ambition to limit global average temperature rise to […]

Spanish firm discovers huge Argentinian oil trove

Spanish oil firm Repsol has struck a huge trove of Argentinian oil which it says is its largest ever find. A reservoir in Neuquén, a southern province of Argentina, yielded 927 million barrels of oil equivalent, 741 million of which are oil.15 vertical wells were drilled in the Vaca Muerta formation, which analyst Wood Mackenzie […]

Energy firms score high on carbon index

E.ON, Iberdrola, National Grid and Scottish & Southern Energy are among energy companies that have made it on to the 2010 Carbon Performance Leadership Index. The index is published by the Carbon Disclosure Project, an organisation representing 534 global institutional investors which assesses the 500 largest global companies on their efforts to cut their carbon […]