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.... During a previous Yanukovich government, in 2003-5, Zlochevsky chaired the State Committee for Natural Resources, and companies under his control won licenses to explore for oil. Then Yanukovich fell from grace, and the new government tried to strip Zlochevsky’s companies of their oil exploration rights – and he had to sue the government in order to keep them. ... [Read full article on Guardian ]
Wednesday 12th of April 2017 05:00:26 AM
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Latest Finance News related to Oil Exploration

The money machine: how a high-profile corruption investigation fell apart image
Source : Guardian [Read Article] Wednesday 12th of April 2017 05:00:26 AM
.... During a previous Yanukovich government, in 2003-5, Zlochevsky chaired the State Committee for Natural Resources, and companies under his control won licenses to explore for oil. Then Yanukovich fell from grace, and the new government tried to strip Zlochevsky’s companies of their oil exploration rights – and he had to sue the government in order to keep them. ...
Hurricane makes 'largest undeveloped' oil find in UK waters image
Source : BBC [Read Article] Monday 27th of March 2017 11:10:03 AM
. An oil exploration firm has made what it has described as the "largest undeveloped discovery" of oil in UK waters. ...
Oil price will soar without investment in capacity, says watchdog image
Source : Guardian [Read Article] Monday 6th of March 2017 04:00:17 PM
....6mb/d last year. The developing world’s hunger for oil was one reason the situation today was different to the last time oil exploration investment collapsed so severely, in the early 1980s, the IEA said. ...
BP scraps controversial Australian oil exploration site image
Source : BBC [Read Article] Tuesday 11th of October 2016 10:24:24 AM
...."This news will be especially welcomed by the local communities near the waters of the Great Australian Bight like the tourism operators, oyster farmers and fishers who rely on it for their livelihoods," said Greenpeace Australia oceans campaigner Nathaniel Pelle. "Prime Minister Malcolm Turnbull should now heed this signal from BP, stop further oil exploration in the Great Australian Bight for good, and protect this unique wilderness while he still can. ...
Caterpillar cuts up to 250 jobs in Northern Ireland image
Source : BBC [Read Article] Thursday 1st of September 2016 02:31:45 PM
....The world's largest manufacturer of heavy construction equipment, Caterpillar employs 1,800 people in Northern Ireland with factories in Larne, Newtownabbey and west Belfast. The firm has been hit by a global downturn in mining and oil exploration which has reduced demand for its products. ...

Theresa May extends olive branch to Argentina over Falkland Islands
 image
Source : Telegraph [Read Article] Thursday 11th of August 2016 02:19:53 AM
....In a significant shift in relations the Prime Minister has written to Argentina's President saying it is her "sincere hope" that the two nations can build a more constructive relationship. She said that she wants to "make progress" towards ending restrictions on oil exploration to boost the local economy and allow more flights to and from the island. ...
Falklands considers Argentina sea ruling image
Source : BBC [Read Article] Tuesday 29th of March 2016 10:14:29 AM
....The UK has held the Falklands since 1833, and the vast majority of its 3,000 citizens want the islands to remain a British overseas territory. Many islanders remain concerned about Argentina's claim as well as the potential for problems from rapid change brought by the oil exploration industry. ...
Opec has failed to stop US shale revolution admits energy watchdog image
Source : Telegraph [Read Article] Monday 22nd of February 2016 11:38:03 PM
.... . Mr Birol said investment in oil exploration and production across the world has been cut to the bone, falling 24pc last year and an estimated 17pc this year. ...
Consumers warned of 'oil price spike' image
Source : BBC [Read Article] Monday 22nd of February 2016 02:56:27 PM
....1 million barrels of oil per day between 2015 and 2021, down from an increase of 11 million barrels of oil per day between 2009 and 2015. It also expects investment in oil exploration and production to fall by 17% in 2016 following a 24% decline last year. ...
Seven-and-a-half years on, this is a distressingly fragile recovery image
Source : Guardian [Read Article] Saturday 13th of February 2016 02:59:21 PM
.... Firstly, eurozone banks still have a lot of non-performing loans on their books from the last crisis. Secondly, the belief is that they have lent money for shale oil exploration and high-end property deals that will make losses. ...
Total's profits rise 20% to $5.1bn image
Source : BBC [Read Article] Thursday 11th of February 2016 08:10:06 AM
....9bn in the year. But profits from Total's oil exploration business plunged more than 50% in the year to $4. ...
Could oil shares offer same returns as UK housing in the 90s? image
Source : Telegraph [Read Article] Sunday 7th of February 2016 09:36:25 PM
.... Updated 8/2/2016 12. 00pm - The article was updated to reflect Premier Oil's focus on oil exploration in Asia and the classification of the E. ...
BP shares plunge as profits halve image
Source : BBC [Read Article] Tuesday 2nd of February 2016 07:22:56 AM
....Global supply and demand, at least from his company's point of view, will be in better balance, he argued. It is clear from the strain the low oil price is putting on BP that another year of falling prices will mean yet more job losses in both the upstream (oil exploration and production, including the North Sea) and downstream (refining and sale of fuel) businesses. ...
The best thing a business could do for the environment is shut down image
Source : Guardian [Read Article] Thursday 28th of January 2016 11:45:44 AM
.... With 12 others from climate activist group Plane Stupid, Rebecca Sanderson had occupied a runway to highlight the conflict between airport expansion and escalating carbon emissions. Having spent most of his working life in oil exploration, Sanderson said he was an “unlikely apologist” for his daughter’s actions. ...
BP to axe 1 in 5 North Sea jobs as oil giant cuts 4,000 staff worldwide image
Source : Guardian [Read Article] Tuesday 12th of January 2016 06:01:57 PM
....”. BP’s cutbacks form part of a major reduction in the energy giant’s global “upstream” workforce – those who work in oil exploration and production – from 24,000 to less than 20,000 by December 2017. ...
BP cuts 4,000 jobs amid oil downturn image
Source : BBC [Read Article] Tuesday 12th of January 2016 05:48:14 PM
.... Its problems have been exacerbated by a fall of a third in the value of Brazil's real, which makes servicing Petrobras's mammoth dollar debts that much more expensive. BP said all the job losses would occur in its oil exploration and drilling business. ...
Western oil firms must innovate or die image
Source : Guardian [Read Article] Monday 28th of December 2015 01:07:35 PM
.... Its readily accessible reserves – second only in the Middle East to Saudi Arabia’s –will be rapidly developed once international economic sanctions are lifted. For western oil companies, the rational strategy will be to stop oil exploration and seek profits by providing equipment, geological knowhow, and new technologies such as hydraulic fracturing (“fracking”) to oil-producing countries. ...
UK government hands out new fracking licences image
Source : Guardian [Read Article] Thursday 17th of December 2015 01:20:13 PM
. The government’s controversial attempt to establish a shale gas industry in the UK took another step forward on Thursday when it handed out new licences for onshore gas and oil exploration in 159 blocks, in a move campaigners say could open up swaths of the countryside to fracking. ...
Why it won't be long before oil prices rise again image
Source : Telegraph [Read Article] Saturday 12th of December 2015 03:53:56 PM
.... During 2015, the international rig count outside the US has so far fallen a massive 16pc. Across the entire world, investment in oil exploration and production has nosedived from $700bn in 2014 to $550bn this year. ...
'I am part of an eight-member assembly, running a small country' image
Source : Guardian [Read Article] Friday 4th of December 2015 07:25:09 AM
.... My portfolio of responsibilities is Trade and Industry which includes mineral resources. With active oil exploration underway, this may involve meeting oil company representatives and receiving highly confidential information. ...
Falklands drilling dream of the diehard romantics lives on image
Source : Telegraph [Read Article] Tuesday 24th of November 2015 09:42:53 PM
.... Drilling in the seas off the Falkland Islands was always going to be challenging and expensive. The British colony is a desolate outcrop hundreds of miles from anything and where the environment makes oil exploration particularly harsh. ...
Rolls-Royce 'confidence not good' image
Source : BBC [Read Article] Tuesday 24th of November 2015 05:00:35 PM
....Mr East's comments came as he unveiled details of a review of the business. He insisted that despite a downturn in the aircraft engine business and oil exploration, Rolls-Royce was still a fundamentally strong company. ...
Falkland Islands oil firms announce deal after Argentina election image
Source : Guardian [Read Article] Tuesday 24th of November 2015 11:59:01 AM
. Two Falkland Islands oil exploration firms have announced a £57m deal just hours after Argentina elected a leader with a milder attitude towards the territorial dispute with Britain over the islands. ...
Shell's Arctic oil search ends in failure with dry Alaskan well image
Source : Telegraph [Read Article] Monday 28th of September 2015 06:22:14 AM
.... . The Arctic is though to be one of the last great frontiers in oil exploration. ...
UK’s mining industry is revived – by Australians image
Source : Independent [Read Article] Thursday 17th of September 2015 12:20:33 AM
....Most of the plaudits, though, will go to Australian Russell Clark, Wolf’s managing director, who has managed to get the mine up and running in the space of just a couple of years. While there has been plenty of vocal opposition to other natural resources projects across the UK – especially at fracking and other oil exploration sites – local people have welcomed Drakelands, which will create 200 jobs, with open arms. ...
Questor share tip: Falkland Oil & Gas shares spike ahead of drilling results image
Source : Telegraph [Read Article] Tuesday 15th of September 2015 06:00:51 AM
.... . Make no mistake, backing oil exploration off the Falkland Islands remains about as high risk as investing can get. ...
Labor day weekend gas prices likely to reach an 11-year low image
Source : Guardian [Read Article] Saturday 5th of September 2015 12:00:00 PM
.... For example, a limited number of oil refinery workers have felt the effects of job cuts in their field. “The US oil refineries are doing a booming business because of the low cost of crude oil feedstock,” said Lynne Hancock, spokeswoman for the United Steelworkers union, which represents oil refinery workers and a few oil exploration and production workers. ...
Tory MP Nadhim Zahawi lands job with oil firm Gulf Keystone image
Source : Guardian [Read Article] Monday 24th of August 2015 06:01:12 PM
....A Conservative party MP has taken a job at a British oil company with significant operations in Kurdistan. Nadhim Zahawi, who has been MP for Stratford-on-Avon since 2010, is joining the oil exploration company Gulf Keystone Petroleum as chief strategy officer on a part-time basis. ...
Source : Independent [Read Article] Friday 21st of August 2015 12:45:37 AM
.... . In a combative accompanying press release, Soma warns that the leak left Somali officials vulnerable to attack from militants and could delay much-needed oil exploration in the cash-strapped country. ...
Going with GVC would be one big spin of the roulette wheel for Bwin image
Source : Independent [Read Article] Friday 21st of August 2015 12:44:41 AM
....On Thursday, he published a letter he has written to the UN security council criticising the leak and saying the investigators completely misinterpreted Soma’s payments. In a combative accompanying press release, Soma warns that the leak left Somali officials vulnerable to attack from militants and could delay much-needed oil exploration in the cash-strapped country. ...
US activist builds Glencore stake image
Source : Telegraph [Read Article] Saturday 15th of August 2015 08:30:24 PM
.... The cost of insuring against default on Glencore credit has risen sharply since June Source:Bloomberg. In a first half production update last week the miner took a $790m (£500m) writedown on African oil exploration company Caracal Energy, that it paid $1. ...
Oil companies travel back to 1986 in search of a future image
Source : Telegraph [Read Article] Thursday 30th of July 2015 03:51:41 PM
.... Both companies have been forced to adjust their business models aggressively since commodity prices started to tumble in 2013 in a process described as “squeezing the lemon”. The challenge for Shell is to continue its simplification of the business and cost discipline while it embarks on ambitious high-risk initiatives such as Arctic oil exploration and the integration of the BG Group business. ...
Royal Dutch Shell cuts 6,500 jobs image
Source : BBC [Read Article] Thursday 30th of July 2015 06:22:06 AM
....The job cuts comprised part of its $4bn reduction in operating costs. Shell, which currently employs about 94,000 people, said it is also scaling back its oil exploration operations. ...
Obama administration allows Shell's Arctic oil wells but drilling still restricted image
....“Without the required well control system in place, Shell will not be allowed to drill into oil-bearing zones,” Salerno said. The conditions puts further limitations on Shell’s plans to open up the Arctic for oil exploration. ...
. Genel Energy has called a halt to oil exploration work for the rest of the year while it awaits $400m (£257m) of payments due from the Kurdistan Regional Government. ...
Rolls-Royce in third profit warning image
Source : BBC [Read Article] Monday 6th of July 2015 07:36:58 AM
....Two things are weighing heavily on Rolls Royce - the low oil price and the development of its new jet engine. Rolls-Royce makes much of its money in its marine division supporting oil exploration - building vessels and rig support equipment. ...
Shell to start Arctic oil drilling image
Source : BBC [Read Article] Friday 3rd of July 2015 02:15:06 PM
....But if the initial wells do not find oil, Shell will contemplate walking away from the region entirely. The US Department of the Interior gave the green light to Shell to commence Arctic oil exploration in May this year, and the Anglo-Dutch group clearly believes it will get the remaining necessary permits in the next week or two. ...
Shell's Arctic oil drilling plans hit by polar bears and walruses image
Source : Telegraph [Read Article] Tuesday 30th of June 2015 11:32:37 PM
. The Obama administration has dealt a setback to Royal Dutch Shell's Arctic oil exploration plans, saying established walrus and polar bear protections prevent the company from drilling with two rigs simultaneously at a close range, as it had planned. ...
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Argentina to press regulators over oil company assets image
Source : Telegraph [Read Article] Sunday 28th of June 2015 08:26:37 PM
.... . It came after Lilian Herraez, a federal judge in Tierra del Fuego, ordered that assets of three British firms - Premier Oil, Falkland Oil and Gas, and Rockhopper Exploration - as well as Noble Energy and Edison International be seized as Argentina steps up its campaign over oil exploration in the Falklands. ...
Congo major 'paid by oil firm' image
Source : BBC [Read Article] Wednesday 10th of June 2015 01:58:38 PM
. The BBC has seen evidence that British firm Soco made payments to a Congolese army major accused of using violence to intimidate oil exploration opponents. ...
Questor share tip: Falkland Islands reports another record squid catch image
.... . For those investors that don’t want to take the high-risk oil exploration route, these shares are another way to play the oil rush: shares in Falkland Island Holdings [LON:FKL] should benefit as it owns and operates property and shops on the South Atlantic islands. ...
New Falklands oil discovery could stir trouble with Argentina image
Source : Telegraph [Read Article] Thursday 28th of May 2015 11:57:50 AM
.... . In April, Argentina threatened to sue Rockhopper and two other UK-listed oil exploration companies in a bid to prevent any further development of potential oil resources in the area. ...
Shell boss endorses warnings about fossil fuels and climate change image
Source : Guardian [Read Article] Friday 22nd of May 2015 06:31:26 PM
.... But van Beurden denies that his company is therefore exposed to a carbon bubble. He said some of the opposition to the planned oil exploration this summer in the Alaskan Arctic was emotional and difficult to engage with, but the decision was taken on rational grounds of assessing the technical risks. ...
Shell handpicked auditor to sign off on government's Arctic drilling renewal image
.... In one case, one of its giant oil rigs mistakenly ran ashore after breaking off from towing ships in rough sea conditions. But last week the US government reversed the 2012 ban, meaning that Shell, which has already invested $6bn in Arctic oil exploration, is now set to re-enter the Arctic for exploratory drilling as early as this summer. ...
Seattle in Arctic drilling protest image
Source : BBC [Read Article] Sunday 17th of May 2015 04:10:50 AM
....The firm wants to move them in the coming months to explore for oil off Alaska's northern coast. Earlier this week, Shell won conditional approval from the US Department of Interior for oil exploration in the Arctic. ...
VIDEO: Ghana hits brakes on oil exploration image
Source : BBC [Read Article] Friday 15th of May 2015 01:53:18 PM
. Until a maritime territorial dispute between Ghana and Ivory Coast is resolved, any new offshore oil exploration must stop, says the International Tribunal for the Law of the Sea. ...
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US oil output to fall but supply still outstrips demand, says IEA image
Source : Telegraph [Read Article] Wednesday 13th of May 2015 11:15:05 AM
.... . “Although investments into oil exploration and production have plummeted for months as mirrored in the sharp drops in drilling activity, the impact on oil production is only being seen slowly. ...
B&B owner may be forced to buy Belize oil company after her son accidentally purchased almost half of its shares image
. As the longstanding owner of the Wyche Keep Country House, a three-room lodging nestling in the majestic Malvern Hills, Judith Williams is unlikely to have spent much time considering the pros and cons of oil exploration in Belize. ...
BP profit hit by oil price fall image
Source : BBC [Read Article] Tuesday 28th of April 2015 06:34:18 AM
.... . That helped offset a big slump in profits from BP's oil exploration operations, which reported RCP of $372m compared with $4. ...
Ghana told to stop new oil drilling image
Source : BBC [Read Article] Sunday 26th of April 2015 10:43:52 AM
....Ivory Coast had asked that all drilling be suspended, but the tribunal ruled this would risk "considerable financial loss" to Ghana. Instead, it told the West African nation to "take all necessary steps to ensure than no new drilling either by Ghana or under its control takes place in the disputed area" and to "refrain from granting any new permit for oil exploration and exploitation in the disputed area". ...
Race is on to tap 1bn barrels of oil in the Falkland Islands image
Source : Telegraph [Read Article] Saturday 18th of April 2015 02:00:26 PM
.... . In waters where the Royal Navy task force once fought and won the war to oust the invading forces of General Leopoldo Galtieri, while evading Argentina’s dreaded Exocet missiles, oil exploration vessels now rule the waves. ...
Size of UK oil find as yet unproven image
Source : BBC [Read Article] Wednesday 15th of April 2015 09:05:39 AM
.... areas and to prove its commerciality". When the Horse Hill oil discovery was announced, the oil exploration company's chief executive Stephen Sanderson said: "We believe we can recover between 5% and 15% of the oil in the ground, which by 2030 could mean that we produce 10% to 30% of the UK's oil demand from within the Weald area. ...
Source : BBC [Read Article] Monday 13th of April 2015 09:36:16 AM
....Oil drillers in the Falklands have shelved plans to drill a second well in the south and east of the region, following the steep drop in oil prices. The move involves three oil exploration companies, Falkland Oil and Gas (FOGL), Edison International and Noble Energy. ...
Gatwick oil discovery: Up to 100 billion barrels discovered underground in biggest onshore find for three decades image
.... It believes that between three per cent and 15 per cent of the oil could be extracted. The Horse Hill licences cover 55 square miles of the Weald Basin in southern England - an area that has been heavily licenced for onshore oil exploration. ...
Shell set to cut North Sea and Arctic operations after mega-deal image
Source : Independent [Read Article] Thursday 9th of April 2015 12:08:38 AM
.... The deal will boost Shell’s proved oil and gas reserves by 25 per cent and increase production by a fifth. Shell will benefit from BG’s massive Australian LNG assets and deep-water oil exploration fields off the coast of Brazil. ...
Source : BBC [Read Article] Tuesday 7th of April 2015 09:32:04 PM
.... . Shell said the deal would also add 25% to its proven oil and gas reserves and 20% to production capacity, particularly in Australia's liquid natural gas (LNG) market and in deep water oil exploration off the Brazilian coast. ...
Questor share tip: How to invest in Falkland Islands oil image
Source : Telegraph [Read Article] Thursday 2nd of April 2015 06:15:33 PM
.... . For those investors that don’t want to take the high-risk oil exploration route, there is another way to play the oil rush. ...
Barack Obama gives Shell go-ahead to drill for oil in Alaskan Arctic image
Source : Telegraph [Read Article] Tuesday 31st of March 2015 08:13:27 PM
. Royal Dutch Shell has received the go-ahead from the US government to restart a controversial oil exploration campaign in the Alaskan Arctic despite fears over the risk to the environment. ...
Cairn Energy shares plunge 18.3% after India tax row image
Source : BBC [Read Article] Wednesday 11th of March 2015 10:52:09 AM
....6bn (£1bn) fine for unpaid tax in India. The Edinburgh-based oil exploration company is contesting the claim. ...
Fracking: communities may miss out on cash payments image
Source : Telegraph [Read Article] Tuesday 10th of March 2015 08:00:05 PM
.... . It came as sources said the Government was likely to delay awarding new shale gas and oil exploration rights across vast swathes of Britain until after the election, amid concerns fracking is a vote-loser. ...
Cairn Energy faces £1bn Indian tax demand image
Source : BBC [Read Article] Tuesday 10th of March 2015 07:36:53 PM
....6bn (£1bn) bill for unpaid tax in India. The oil exploration company is contesting the claim through official trade dispute channels. ...
BP and BG group set to slash spending and cut jobs image
Source : Telegraph [Read Article] Sunday 1st of February 2015 08:25:40 PM
.... . BP’s oil exploration and drilling, or “upstream” operations, are expected to show earnings down by 73pc when compared to the same period a year earlier, according to research from Deutsche Bank. ...
North sea oil fields set to make a loss on every barrel produced as BP cuts 300 jobs image
....”. Financial risk analysts, Company Watch [CW] , estimate that 70 percent of the UK’s publicly-quoted oil exploration and production companies are already  suffering substantial losses. ...
Seven golden rules of investing as markets defy gravity image
Source : Telegraph [Read Article] Sunday 11th of January 2015 08:00:36 PM
.... Far too many investors hold three shares or less, according to one of the biggest studies into retail shareholders. To compound this problem investors are attracted to “hot” sectors such as oil exploration. ...
Oil recovers as Bank of America says Saudi Arabia may 'blink' on cuts image
Source : Telegraph [Read Article] Wednesday 7th of January 2015 06:46:06 PM
.... However, the impact of lower oil prices will also hit Britain’s oil industry, especially in the vulnerable North Sea. According to consultant Wood MacKenzie, around £55bn-worth of projects in the UK and Europe face the axe as oil exploration and production companies cut back. ...
Shell agrees $84m deal over Niger Delta oil spill image
Source : BBC [Read Article] Wednesday 7th of January 2015 12:08:20 AM
....The remaining $30m will be left for the community, which law firm Leigh Day says was "devastated by the two massive oil spills in 2008 and 2009". These were among the biggest spills in decades of oil exploration in Nigeria. ...
Oil price slide claims another scalp image
Source : Telegraph [Read Article] Monday 5th of January 2015 03:19:48 PM
.... . Most industry experts believe that there will be a slew of all-share mergers between mid-sized oil exploration and production companies that will be forced to diversify through dealmaking to shore up their business. ...
Brent oil hits new low as Opec price war deepens slump image
Source : Telegraph [Read Article] Tuesday 30th of December 2014 10:46:42 AM
.... . The firm believes that 70pc of the UK’s publicly listed oil exploration and production companies are now unprofitable, racking up significant losses in the region of £1. ...
Third of listed UK oil and gas drillers face bankruptcy image
Source : Telegraph [Read Article] Monday 29th of December 2014 11:53:51 AM
.... . Financial risk management group Company Watch believes that 70pc of the UK’s publicly listed oil exploration and production companies are now unprofitable, racking up significant losses in the region of £1. ...
MySale boss eyes £3m share purchase image
Source : Telegraph [Read Article] Wednesday 17th of December 2014 06:57:11 PM
North Sea oil exploration to be allocated taxpayers’ money image
Source : Guardian [Read Article] Thursday 4th of December 2014 10:39:34 PM
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