Speaking at the state opening of Parliament, the Queen revealed that a new Energy Bill was to be introduced that would maximise domestic oil and gas production and apply the brakes to the growth of onshore wind farms. It was a clear signal that defending the nation’s energy future is more important to this government…

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 the…

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…

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…