New North Sea discoveries make UK net oil producer for first time since 2004

The UK stands set on the brink of becoming a net oil producer for the first…

Rosneft strikes oil in Laptev Sea

Just days after unveiling plans to invest more than $8bn in developing Russia’s Arctic offshore energy…

Rosneft earmarks $8.4bn for Arctic exploration with mystery partners

Rosneft – with the help of a number of as yet unspecified partners  – is planning…

Major oil field discovered in Alaska

A little-known energy exploration company this week claimed to have found new recoverable oil reserves in Alaska that could…

Kashagan oil field production to resume in autumn

Production at Kazakhstan’s massive Kashagan oil field is to resume in the autumn more than two years…

Russian oil reserves to run out by 2044, predicts minister

With current estimates putting Russian oil reserves at 29bn tons and annual crude oil production running at…

Tehran refuses to join freeze until Iranian oil production hits 4m bpd

Iranian oil production: Iran will not consider joining Russia and Saudi Arabia in their plans to put…

Putin backs cap on oil production

Russia will back  international calls to cap oil production, President Putin told a meeting of senior representatives from…

Iranian oil exports set to top 1.5m bpd next month, claims NIOC

Iranian oil exports could reach 1.56m barrels per day (bpd) according to Mohsen Saeed Ghamsari, International…

China sets up team to explore Antarctic

China’s State Oceanic Administration (SOA) is to establish an air service team to explore the Antarctic…

Russia renews claim to five billion tons of hydrocarbons under Arctic Shelf

Russia will today  submit a revised application to the United Nations  for permission to expand its…

Dvorkovich hints at scale back in Russian oil production

Russian oil production: Russia may scale back on oil production if global prices remain low for a…

Lukoil signs Khouzestan exploration deal with Tehran

Lukoil has been awarded a licence to explore two potential oilfields in Iran’s Khouzestan province, a…

Turkmenistan sets up NAPECO to coordinate upstream development

Turkmenistan’s President last week Gurbanguly Berdimuhamedov gave the go-ahead for the launch of the Turkmen National Oil and…

Singaporeran firm begins seismic research in Turkmen oilfields

The Singapore-registered Yug-Neftegaz company has started implementing 2D and 3D seismic research in the Turkmen oilfields in and…

BP and SOCAR to look for more oil off Absheron peninsula

BP is planning to begin seismic surveys the shallow waters around the Absheron peninsula in the Azerbaijani…

Shell abandons Arctic drilling as exploration disappoints

Arctic drilling: In a move that could cost it billions of dollars, Royal Dutch Shell has…

Iran and Azerbaijan team up for Caspian Sea oil exploration

Caspian Sea oil exploration: Plans for The National Iranian Oil Company (NIOC) and The State Oil Company of…

Russian oil production set to rise 52%, predicts Rosneft chief

Russian oil production could increase from the 530.5m tons being predicted for 2015 by Russia’s Economic Development Ministry…

New consortium formed to build €9.9bn Nord Stream 2

Gazprom, E.ON,BASF/Wintershall, OMV, ENGIE  and Royal Dutch Shell have formed a consortium to build Nord Stream 2, the €9.9bn…

Obama gives Shell green light for Arctic drilling

Arctic drilling: The Obama administration has given Shell permission to drill for hydrocarbons off the  northwest coast…

Russia set to dominate Arctic drilling by 2030

Arctic drilling: By 2030, Russia will be extracting  55% all hydrocarbons being drilled from the Arctic, according to…

Sanctions force Rosneft to postpone drilling of second Kara Sea oil well

Western sanctions are likely to force Russian state oil producer Rosneft to postpone drilling a second well…

Lukoil and Gazprom in talks over Arctic Shelf collaboration

Arctic Shelf collaboration: Russian oil majors Gazprom and Lukoil are said to be in advanced talks with…