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Within 15 years, Royal Dutch Shell plans to become the world’s biggest power company. This move suggests it identifies climate change as a bigger threat to its business compared to electricity weak returns. According to Maarten Wetselaar, director of Shell’s integrated gas and new-energies unit, Shell spends as much as USD 2 billion a year […]

London-listed Independent Oil and Gas, which is seeking a partner to help build a new gas hub in the southern part of the North Sea, has rejected a takeover proposal from RockRose Energy. RockRose which is also buying Marathon Oil, a UK business of US upstream company said it had proposed a cash takeover of […]

Equinor together with its partners Petoro, ConocoPhillips and Repsol have made an oil discovery in Telesto exploration well of North Sea from Visund A platform containing estimated resources of 12-28 MMbbl of recoverable oil. “We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf (NCS). These are profitable […]

This year, Europe is expected to be the fastest-growing market for liquefied natural gas (LNG) and will absorb the fuel despite supplied by Russia’s record-high volumes by pipelines. Royal Dutch Shell Plc said on Monday that it expects to get an extra 20 million to 30 million tons of LNG this year, double the increase […]

With crude rebounding, oil optimists look like they’re finally ready to take the driver’s seat. For the first time this year, a jump in bets that Brent crude prices will rise far surpassed the move by short-sellers, helping set the tone for money managers’ positioning on the global benchmark. The Sentiment is now the most […]

An oil and gas reservoir has been discovered by Aker BP while the company was drilling near the Alvheim field in the North Sea as confirmed by the Norwegian firm last Monday. Known as Froskelaar (Frog’s Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents and […]