Oil

The price of oil spiked on Thursday just hours after a US spy drone violating Iranian airspace was shot down by the Islamic Revolution Guards Corps (IRGC) close to the Strait of Hormuz.

Private-equity back oil firm Chrysaor has snapped up stakes in a number of UK North Sea licences containing exploration prospects from US business Apache.

Oil in London headed for its biggest weekly gain since February as escalating tensions between the U.S. and Iran fanned fears of conflict that would disrupt energy supplies from the Middle East.

After several years in the doldrums. oilfield service companies are beginning to raise prices for their products and services. according to Rystad Energy.

Concern about slowing economic growth and a US-China trade dispute has pulled oil lower in recent weeks.

Norwegian energy giant Equinor has announced that it has bought up interest in a Brazilian oil discovery for more than £300 million.

OPEC nations may be at odds with each other. but all they need to do is extend their current crude oil cutbacks through the end of the year to help keep the market relatively balanced. according to a new report.

The UK oil and gas industry is starting to get ``very good`` at decommissioning. the sector’s top regulator said yesterday.

Shell’s Brent Bravo platform has been removed from the North Sea by Allseas’ heavy lift and pipelay vessel Pioneering Spirit.

One of the UK’s richest men is looking to expand his North Sea oil and gas portfolio after his exploration and production (E&.P) business returned to profitability in 2018.