It’s the oil crash few saw coming, and few have been spared as it erased $1.

Anadarko Petroleum, an independent oil and gas exploration and production company, has reported that construction continues to progress for its Heidelberg spar as its compressor modules have been installed onshore in Ingleside, Texas.

Federal Environment Minister Leona Aglukkaq has signed off on Shell Canada's plan for dealing with a potential deep-well blowout on the Shelburne Basin.

Russia's Foreign Ministry confirmed Tuesday that it had submitted a bid for vast Arctic territories that could contain large quantities of oil and gas to the United Nations.

Lime Petroleum Norway has executed an agreement with EnQuest Norge to acquire their 50% stake in each of the PL760 and PL760B licenses in the Norwegian Sea, both operated by Total.

Total SA, Europe’s biggest refiner, is taking preliminary steps to restart its La Mede plant in southern France, which was halted in June by a strike.

Oil prices edged up for a second day on Wednesday, recovering from a drop below $50 a barrel, after weekly data showed a fall in U.

BP has confirmed it intends to invest up to $1 billion in a major North Sea life extension project.

Hibiscus Petroleum Berhad’s subsidiary, Gulf Hibiscus Limited, has been awarded the South East Ras El Ush concession (Block 2) in Egypt by the Ganoub El-Wadi Petroleum Holding Company (Ganope), an entity of the Ministry of Petroleum, Arab Republic of Egypt.

An explosion hit Turkey's Shah Deniz pipeline carrying natural gas from Azerbaijan early on Tuesday but there was no impact on supply because the flow was already suspended for maintenance, a senior Turkish energy official said.