In March the kingdom hit a record rate of production – 10.3 million barrels a day. It wasn’t alone – in the same month both Iraq and Libya boosted production in spite of the ongoing trouble in their countries. In fact, there is now an additional two million barrels a day coming from OPEC now…

But they walk back out the door at the end of each day disappointed because there remains no sign of the missing Malaysian Airlines MH 370 which disappeared without trace on March 8, 2014.   According to the Australian Transport Safety Bureau  the operation to recover the flight has covered 60% of the search area,…

Seven months on from the crash that saw prices plummet to around $50 an energy watchdog said that a recovery seems “inevitable”. Mamdouh Salameh, an international oil economist, says the glut that has driven down prices since June could start to ease as soon as the second half. He pointed to issues recently highlighted by…

People from Norway are proud of it, saying: “We are extremely lucky. Someone several decades ago was really smart to deal with the income from the oil industry to generate the welfare of this country as a whole.” It’s meant that, in relative terms, a country which depends on the oil and gas industry for…

Members of the United Steelworkers Union have been striking since February 1st after it failed for the fifth time to reach agreement on a three-year contract with major oil companies.   The USW says following talks with Shell, the lead negotiator for the oil industry, it has managed to secure many of its demands in…

For the first time in years there is now a sense that the North Sea is not a ‘cash cow’ to be milked by governments. As the BBC reports, “the Greek proverb says when milking a cow be careful not to pull the udders off”. Indeed, over the past few months, thousands of jobs have…

Despite the ongoing slump in oil process and growing in-fighting, Abdullah el-Badri remains committed to the path the group began to chart last year and believes it will lead to a better time for the industry in the future. You’ll remember back in November 2014 all eyes were on the OPEC conference, as oil prices…

Well, there’s a damned good reason for it. This happened last year. Remember Nordic Offshore? Last year the company went bankrupt and into administration. Precise Consultants had a freelancer who had just completed a lengthy job for them and was owed many thousands of pounds. But he never knew anything about the financial trouble that…

“Essentially the purpose of any new legislation is to help the UK Government streamline tax collection processes, and of course generate more revenue from the UK taxable population and National Insurance contributors. “This new legislation gives wide ranging powers to UK tax authorities in respect of holding agencies liable for any UK tax payable by…

The commodity in question is Canadian oil sands crude. There are plans for a vast pipeline that would transport more than 800,000 barrels a day to Nebraska en route to refineries and ports along the US Gulf Coast. It’s been controversial ever since President Obama took office six years ago, as he has consistently refused…