State oil giant Saudi Aramco has put on hold its deepwater oil and gas exploration and drilling activities in the Red Sea because of high costs as it economises in an environment of low crude prices, industry sources said on Sunday.

DNV GL, the technical advisor to the oil and gas industry, has been selected by Wintershall Norge AS as the sole supplier for the combined role of Independent Verification Body (IVB) and Third Party Design Verification scope for the subsea, umbilicals, risers and flowlines (SURF) part of the Maria field development project.

Ulstein 'Island Performer' subsea vessel has been upgraded for its next assignment in the U.

"There will be no drilling in 2015.

EMERGENCY crews have been called to Aberdeen International Airport after a warning light came on in a helicopter an Aberdeen news paper has reportedThree fire engines and police were called to the runway at around 9.

Atlantic Petroleum has announced that the company will re-locate its finance function to Bergen and close down the Torshavn office, on the Faroe Islands.

KBR, Inc.

With more than $110 billion of oil and gas assets on the block as companies big and small count the cost of the collapse in oil prices, it is now a question of who will blink first to set the M&A scramble in motion.

Wood Mackenzie’s Caspian upstream research team have assessed the most significant events of 2014 impacting the region’s oil and gas sector, including the Ukraine crisis and the collapse of global oil prices and significant progress with the region’s high profile megaprojects, identifying the key areas to watch this year.

OPEC's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices.