Wood Mackenzie: Industry needs to start adapting for the longer term

Most companies are currently focused on surviving at US$30/bbl by cutting costs and activity, but the industry also needs to start adapting for the longer term, according to a report by Wood...

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BP set for further development of Oman’s Khazzan gas field

UK-based energy giant and state-owned Oman Oil signed a deal on Sunday to develop a second phase of the Khazzan natural gas field. The estimated cost of developing the entire project is around $16...

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BP outlook: gas will be the fastest growing fossil fuel

BP outlook: gas will be the fastest growing fossil fuel UK-based oil and gas giant BP expects fossil fuels to remain the dominant form of energy over the period to 2035, according to the 2016 edition...

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BG Group ends independence on high note

In its last report as an independent company, BG Group said it was one of the few companies in the struggling sector to report a full-year profit. The company issued its last report ahead of a $7...

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Shell – BG deal viable at $50 oil price

Royal Dutch Shell has assured investors its US$70 billion acquisition of BG Group is profitable even if the US$50 per barrel oil price persists for further two years. Prior to the January 27 meeting...

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OPEC Crude Oil Plunges below $30 for First Time Since 2004

The price of crude sold by OPEC members slid below $30 a barrel, the lowest level in almost 12 years, as turmoil in Chinese markets deepened the global commodities rout. according to data compiled by...

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Oil, Gas Expectations for 2016 up In Air

Analysts have greeted the first few business days of the New Year with a variety of prognostications for 2016. Modeling a potential jump to $70 oil by the end of 2016, increased cuts in capital...

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Oil Shrugs as Glut Blunts Shock from Deeper Saudi-Iran Clash

At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices. That the rally this time couldn’t be sustained shows just...

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