David Lenigas, the chairman of UK Oil & Gas Investments who claimed there may be “multiple billion barrels” of oil in an area near Gatwick airport, is stepping down from the board.

Africa-focused Tullow Oil is turning to low-cost technology in its search for new oil reserves after the collapse in the price of crude and a poor run of discoveries forced the company to slash its exploration budget by 80 percent.

Chevron's $54 billion Gorgon LNG project - the world's most expensive - may be forced to dump chunks of its early production onto an already saturated global spot market, as some Japanese clients warn they are unlikely to take up test shipments.

Erin Energy Corporation, until recently known by the name of Camac Energy, is looking at the imminent first oil lifting of oil from the Armada Perdana FPSO at the Oyo oil field in Nigeria.

Two workers died at a construction project at a Brazilian oil terminal operated by state-run Petrobras on Tuesday, adding to a string of fatal and life-threatening accidents, a union representing oil workers said in a statement.

Further details of the newbuild rig which keeled over into the water after one of its jack-up legs collapsed while working on the