Dana Petroleum has confirmed that its flagship £1bn Western Isles oil field development in the North Sea will come on stream two years later than planned.
Oil traders may send a record amount of crude from the North Sea to South Korea this month, amid signs that refining rates in the Asian country are surging.
A rebound in North Sea oil production in the three months to May helped the UK double its growth rate to 0.6% from the first quarter of the year, handing the Treasury a much-needed boost.
Growth in Scotland will lag further behind the UK in coming years as the downturn in the North Sea oil and gas industry takes a heavy toll on the country, economists have predicted.
Amec Foster Wheeler Plc and Petrofac Ltd on Tuesday joined a growing list of London-listed oil and gas support services companies planning to cut jobs in response to the tumble in oil prices.
Technip, a world leader in engineering for the energy industry, has been awarded a brownfield subsea contract for the Triton floating production storage and offloading (FPSO) vessel, operated by Dana Petroleum, locat ...
The North Sea, which brought upheaval to global oil markets in the 1980s just as shale has in this decade, is desperately seeking tax relief in Wednesday’s British budget.