After it has been announced that Diamond Offshore is facing early termination for several of its rig contracts, another U.

A NEW Shetland company has been selected by Petrofac to manage and operate the accommodation units at Sella Ness.

McDermott International, Inc.

Technip has secured a subsea contract from Total E&P UK for the Glenlivet project, west of Shetland.

President Barack Obama on Tuesday, as promised, swiftly vetoed a Republican bill approving the Keystone XL oil pipeline, leaving the long-debated project in limbo for another indefinite period.

Brent crude held steady around $59 a barrel on Wednesday as Saudi Arabia's oil minister said oil demand is growing and markets are calm.

Norwegian drilling contractor Odfjell Drilling has sunk into the red and suspended 2014 dividends after taking a major write-down on its Deep Sea Metro assets.

Statoil is eying further opportunities in the Oseberg area after bringing its tenth fast-track portfolio project, the 77 MMboe recoverable Oseberg Delta 2, onstream.

Noble Energy is suspending any further investments in the expansion of Tamar, and initial development of Leviathan until regulatory issues are resolved with Israel.

Iran will withdraw up to $4.