UK | Egypt Oil & Gas - Part 7
BP Declares 44% Drop in its Profit in Q2 2016
BP reported that its profit for the second quarter of 2016 has dropped by 44% to $720m, compared with $1.3b for the second quarter of 2015, reported Hellenic Shipping News. BP CEO, Bob Dudely, was quoted by The Guardi...
Crude Investors Flee to Safety after Brexit
The UK’s surprising vote for Brexit has brought a new level of uncertainty into the markets. Shortly after the UK has voted to leave the European Union, the investors started withdrawing from the international oil and...
Nostra Terra to Start Collecting East Ghazalat Revenues
UK’s Nostra Terra, a fast-growing oil and gas exploration and production company that focuses on established hydrocarbon provinces in the US and Egypt, has confirmed that its subsidiary, Independent Resources Egypt (I...
Faroe Petroleum Announces New Oil&Gas Discovery
The Aberdeen-based Faroe Petroleum has expanded its North Sea assets after discovering a new exploration oil and gas reserves well in the Norwegian North Sea, reported Oil Voice. Proactive Investors has cited that the...
UK Oil&Gas to Acquire 100% Stake in Weald Basin
UK Oil & Gas Investments (UKOG) has announced that it had agreed with Celtique Energie Petroleum and Magellan Petroleum to acquire 100% ownership of the 300 sq km Weald Basin (PEDL234), in southern England, accord...
UK’s Hardy Mulls Abandoning Oilfield in India
UK’s upstream international oil and gas company, Hardy Oil and Gas, has threatened to abandon Puducherry’s PY-3 oilfield if the Indian government and field licensee, the Indian Oil and Natural Gas Corporation (ONGC) f...
UK Expected to Lay Off 120,000 Oil Workers by End 2016
The aftermath of the international downturn in the oil and gas industry in the UK is expected to lead to a total of 120,000 jobs lost by the end of 2016, according to BBC. Oil & Gas UK estimated 84,000 industry em...
UK Oil and Gas Firms Plan to Cut More Jobs
About 32% of UK’s oil and gas companies, more than four in 10, are planning to cut more jobs in 2016 in response to the downturn in the industry, Bank of Scotland (BoS) said in ‘Re-evaluating Strategies... 
