The United Kingdom Ambassador to Libya, Nicholas Hopton, praised Mustafa Sanalla, the Chairman of the Board of directors, in achieving production rates and paving oil operations. This came during the meeting at Libya’s National Oil Corporation (NOC).

UK's Wood Group has secured a five-year deal to continue providing engineering and project management services to Saudi Arabia's state-owned oil firm Saudi Aramco.

The European Bank for Reconstruction and Development (EBRD), Agence Française de Development (AFD), and the European Investment Bank (EIB) will provide $38m to support Morocco's sustainable energy developments.

The Organization of Petroleum Exporting Countries (OPEC) has recently pointed to a pending crude supply deficit, instead of a surplus created by low oil prices, as it said that the oil markets are likely to generate high global demand for crude, with an estimated increase of 1.15mb/d, in 2017.

UK Chancellor George Osborne has offered further tax relief for Britain’s oil and gas industry. The tax changes are expected to save the industry around $1.4b in the five financial years from 2016/2017 to 2020/2021.

Fracking could potentially be done safely in the UK under "rigorous regulation", but it is too early to say whether it would be "a good idea", the Task Force on Shale Gas has reported.

A rise in oil and gas output boosted UK industrial production in May, official figures show, but manufacturing output continued to fall.

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.

Another casualty of the downturn in oil prices: Australia's New Standard Energy Ltd. is exiting the U.S.

Britain on Monday accused Argentina of a politically motivated and illegal attack on the nascent oil industry around the disputed Falkland Islands, after Buenos Aires said it would seek to seize the assets of drillers operating in region.