The United Arab Emirates, OPEC’s third-biggest producer, will raise unleaded gasoline prices by 24 percent next month when it becomes the first country in the oil-rich Persian Gulf to remove subsidies on transport fuel.

Asian oil buyers, already sucking in barrels from as far away as Alaska and Mexico, are anticipating more bargains when Iran finally returns to world markets.

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has announced that Husky Energy’s Development Plan Amendment for the White Rose Extension Project, offshore Newfoundland, has received conditional approval from the Board along with the federal and provincial governments.

With commodity prices slumping, the local currency slipping and manufacturing jobs disappearing, Australians are starting to question whether they've backed the wrong economic horse.

The slide of crude into a bear market sank Petroleo Brasileiro SA, sending the Ibovespa to the longest rout since February 2013.

Offshore workers have today rejected proposals offered by the Offshore Contractors Association (OCA) for North Sea workers on new offshore rotations.

“The Strategic Petroleum Reserve is not an ATM,” Lisa Murkowski, chair of the Energy and Natural Resources Committee warned the Senate this week.

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Official figures released by the Office for National statistics (ONS) on Tuesday show that the UK’s economy rose by 0.

Up to 117 offshore workers could lose their jobs at an Aberdeen-based North Sea drilling contractor.