BP PLC expects to start next year deep-sea drilling work off the coast of Libya, as the U.K. oil giant resumes it $2 billion exploration program halted by the rebel overthrow of Col. Moammar Gadhafi's regime last year.
An explosion rocked the Amuay oil refinery in northwestern Venezuela, killing 39 people, including a 10-year-old boy, a Venezuelan official said Saturday.
A return to oil production in Libya gave a welcome boost to OMV AG's first-half earnings, but the effects of the North African country's civil war are still being felt, the Austrian oil company said Wednesday.
South Sudan hopes to resume oil production in September after reaching an interim agreement with Sudan on oil export fees, but it may take a year to return to full capacity, its top negotiator said on Tuesday.
Gulf Keystone notes announcement by MOL Hungarian Oil and Gas Plc., the operator regarding the spudding of the Gulak-1 exploration well on the Akri-Bijeel block in the Kurdistan Region of Iraq.
Chevron Corp confirmed on Thursday its purchase of 80 percent of two blocks in Iraq's Kurdistan, where the second-largest U.S. oil company sees "considerable promise" despite active diplomatic disputes over the region.
Oilfield service companies Baker Hughes and Schlumberger posted higher than expected earnings thanks to activity growth in the U.S. Gulf of Mexico and international markets that balanced out cyclical weakness in the North American market.