Oil and gas companies are still testing the waters offshore New Zealand when it comes to production, and little has been done off the islands in the exploration arena.

Petrobras has signed with PetroRio S.

Austrian OMV has completed its Maari offshore field redevelopment project in New Zealand, and accepted praise from the island nations’ energy minister.

Brazilian police arrested Jorge Zelada, former director of Petrobras' international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, prosecutors said on Thursday.

Earlier this week, the Lancashire County Council rejected a bid by the energy company Cuadrilla to start drilling and fracking (fracture stimulation) to extract gas on the Fylde coast in Lancashire at the village of Little Plumpton, between Preston and Blackpool.

Speculators are piling into complex crude options this week, in a bet the market is going to tumble later this year on an expected slowdown in refinery demand and robust oil inventory levels.

Norwegian oil company Statoil has experienced a helicopter problem during a flight to an offshore installation in Canada, forcing the pilot to return the aircraft to base, Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has informed.

BP Plc will pay a record $18.

Det norske oljeselskap AS, operator of the Ivar Aasen field in the North Sea, has completed the drilling of three appraisal wells, 16/1-22 S, 16/1-22 A and 16/1-22 B.

Tullow Oil's TEN project offshore Ghana is ramping up towards offshore installation activities this month and is on budget and on track for first oil mid-2016, the firm said today.