Well, let’s look at the company first and the answer is yes. It’s subsidised by the Conservative Government. Not as much as it would like however, and you might remember that last year it had to scale back the plans because the subsides on offer were too low. Originally it wanted to create a wind…

Well, what do you think OPEC decided? Yes, it’s going ahead with its current 30m BPD output. Following the announcement the general secretary Abdullah al-Badri said the decision was “unanimous” and the Venezuelan Oil Minister Asdrubal Chavez said “It’s been a very successful meeting.” The market reacted with.. well, a complete lack of surprise. The…

SAFE reported following the failed talks in May that, “The Norwegian Ship-owners’ Association (NSA) didn’t have a dime to offer our members.” But you could argue the current situation has been caused by SAFE’s mismanagement of expectations. At a time when contracts are being cancelled and day rates are falling as the market copes with…

Yes, that’s right. Thanks to several years of murder, looting, destruction and violence, the militants have gone from being a ragtag band of extremists to the richest terror group in the world. The jihadists came from nowhere but now control 11 oil fields in Iraq and Syria, which accounts for an estimated $1.2m of oil…

This is so significant because it is the first time China has imported more oil than the US –and it’s not likely to be a one off.  Although it’s the highest growth rate since September 2014, the 13% rise in a month is possibly a signal that more is to come. Indeed, it recently signed…

The UK based oil services firm recorded a net income of $151m which compared to $131 in Q1 2014. Its revenue for the same comparative period was $1.2bn, down $487m.   Jean Cahuzac, Chief Executive Officer, credited the company’s strong operational performance to good execution and cost control discipline. However, he highlighted the impact on…

Hayward who now runs Iraqi Kurdistan focused Genel Energy and is Glenore’s chairman said OPEC’s ‘drill them into the ground’ strategy had paid off. He said the decision to stay the course in November forced the more expensive producers in the States into unprofitability leading to a massive decrease in the number of rigs currently…

It is a strong move against one of the country’s most influential tycoons and it is a move that many Russian businessmen say shows they and their capital is no longer welcome in the West. That Britain, a country which prides itself on being a champion of the free market, has done this indicates the…