Oil & gas news

Urgent action to ensure oil and gas companies meet their legal obligations to safely remove ageing oil and gas infrastructure from the North Sea could create up to 25 000 UK jobs and deliver up to £15 billion in economic benefit to the UK, a new first-of-its-kind report shows.

The world's 30 largest exploration and production companies face production declines averaging nearly 40% between 2025 and 2040.

The final environmental impact statement analyses the potential environmental impacts associated with authorising proposed treatments on up to 16 existing wells as part of the operator’s update to its Development and Production Plan.

Technology enables engineers to seamlessly import well design files from various platforms to optimise design, further advancing the leading rod design platform.

ASCO, a leading logistics, materials and operations management specialist, has recently secured four significant contracts across Australia, totalling AUS$33.2 million.

The 2026 Iran war and the disruption to LNG flows through the Strait of Hormuz have increased global gas price volatility, which has fed directly into European power markets.

European gas prices fell to near seven-week lows on the afternoon of Friday 17th April 2026, on news the Strait of Hormuz would be fully open to commercial shipping, but traders and analysts remained cautious, according to Montel.

Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”.

Partnership with NOC subsidiary brings in-country maintenance and repair for critical oil and gas and power assets.

bp has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of bp’s strategy to grow its upstream portfolio.