Tullow Oil plc announces that the Zumba exploration well (6507/11-11) in licence area PL 591 in the Norwegian Sea has not encountered hydrocarbons and will now be plugged and abandoned.

Kuwait's oil minister said on Tuesday he expected oil prices to continue rising, predicting gains in the final quarter of 2015 on the back of global growth.

IPB Petroleum has informed that its application for a 12 month suspension, extension and variation to the WA-485-P exploration permit work programme, offshore Australia, has been approved by the Commonwealth–Western Australia Joint Authority.

If the United States does not lift its 40-year ban on crude exports, Iran could soon be competing in global markets that would be mostly shut to U.

Norwegian offshore vessels owner Island Offshore is introducing reduced working hours for all office employees in Ulsteinvik, starting August 1, 2015, in order to reduce costs.

Norwegian offshore workers might go on strike if tomorrow’s mediation to find agreement on wages between SAFE, a Norwegian Union of Energy Workers, and Norwegian Shipowners’ Association (NSA) fails to yield a solution.

Turkey has issued a permit on engineering surveys for the offshore section of Turkish Stream, Russia’s Gazprom informed.

McDermott International, Inc.

VNG Norge has started the operation of the first of two new explorations wells in the Boomerang prospect in the Norwegian Sea.

Oil prices remained flat on Tuesday as strong European economic data and optimism a deal will be struck between Greece and its creditors offset the impact of a supply glut and a stronger dollar.