Statoil has announced today that it successfully bid on 14 leases in the U.

Premier Oil has announced to staff that it plans to reduce its head count by up to 10%, this will affect at least 20 full time members of staff in Aberdeen, this follows a cut to contractor rates made last month and a reduction of 23% in spending for 2014, the decision has been made due to the current oil climate.

Both the UK and US Embassies in Saudi Arabia have warned of a heightened terrorist threat against foreign oil workers in the region.

Transocean Ltd.

Dramatic changes may be affecting Norway’s oil and gas sector, but the Petroleum Safety Authority (PSA) director-general Anne Myhrvold makes it clear that savings must not affect continuous safety improvements.

A global oversupply of oil is set to rise as China pauses in the build-up of its strategic reserves and Asian refineries slow crude imports ahead of the spring maintenance season, putting more downward pressure on prices.

Statoil has informed that the world’s first subsea wet gas compression system is ready to be installed on the seabed and tied back to the Gullfaks C platform in the North Sea to provide another 22 million barrels of oil equivalent from the Gullfaks South Brent reservoir.

Siem Offshore Inc.

An offshore worker has been airlifted to hospital from a North Sea platform following a medical emergency.

Brent crude oil fell back towards $54 a barrel on Thursday after