Industry Developments

UK-listed Ireland-focused independent Providence Resources reported on March 15 2012 that its latest appraisal well at the offshore Barryroe field flowed 42° API oil at a rate of over... 2012-03-19

The Chancellor's muted reforms to decommissioning regulations could help unlock new investment in mature North Sea assets as the government seeks to reverse a worrying decline in new... 2012-03-19

Statoil is considering the acquisition of new UK North Sea assets as it seeks to replicate successful discoveries made in 2011 in the Norwegian North Sea. Though this is an encouraging... 2012-03-12

Russia's former prime minister and recently re-elected president Vladimir Putin has raised the possibility of the UK importing Russian gas via the Nord Stream pipeline system.

BMI View: Eni has obtained a US$700mn retroactive price cut from Gazprom in what is only the latest in a number of concessions made by the Russian gas export monopoly to its European... 2012-03-07

Statoil's first Skrugard appraisal confirms previous resource estimates for PL 532 and should aid field development plans. It also reaffirms the prospectivity of Norway's Barents Sea... 2012-03-06

Bids from Asian NOCs have upped the ante in the race to acquire Cove Energy. The hotly contested buy-out is testament to the huge potential of assets in East Africa in which Cove holds... 2012-02-28

Like many other integrated oil companies, high prices lifted Eni's upstream profits during 2011 while its downstream businesses continue to suffer. The bottom line was 9.1% higher overall... 2012-02-15

BMI View: The arrival of a new cargo at the Coryton refinery should provide PwC with 'vital breathing space' to negotiate a strategic sale of the plant. We believe that, despite Petroplus'... 2012-02-07

Lundin's latest estimate for its PL501 licence points to 1.3bn barrels (bbl). This could mean that the combined Sverdrup prospect contains between 2.2 and 2.8bn bbl. Despite the downgrade,... 2012-01-27