The biggest losers from the current price war between OPEC and the shale producers seem set to be producers outside the Middle East and North America caught in the cross-fire.

After several years of declines and escalating costs, a British energy report suggests oil and gas production from the North Sea is set for a rebound.

Chevron has informed it does not expect any production from its giant Big Foot tension leg platform (TLP), in the Gulf of Mexico, until 2018.

AN oil and gas industry firm has announced proposals to cut jobs in the face of “increasingly challenging market conditions”.

Aberdeen-based shipping and energy services firm, Craig Group, has launched its first F-Class emergency response and rescue vessel (ERRV), the Grampian Fortress.

Two of the UK’s largest offshore workers’ unions, GMB and Unite, have taken opposing stances as to the recent offer regarding rota changes made by OCA, a representative body for offshore contractors.

Dozens of jobs are under threat at a leading North Sea helicopter operator.

A slump in oil below $50 a barrel - a level it has held above for most of the past decade - has raised the prospect of a new era of lower prices, although a return to super-cheap oil seems unlikely.

Saudi Arabia is expected to raise prices for crude it sells to Asia in September due to a stronger Dubai benchmark, traders and analysts said on Monday, adding that the top oil exporter will be wary of a hike so big it would threaten its market share.

Iran can boost oil production in one week after international sanctions are lifted, and OPEC’s refusal to accommodate Iran in export markets would result in lower crude prices, Oil Minister Bijan Namdar Zanganeh said.