Brazilian-state run oil company Petrobras has said that the drilling of the second well in Carcará area (Block BM-S-8), located at Santos Basin´s ultra-deep waters, confirmed the light oil potential in pre-salt’s reservoirs.

Oil prices rose in choppy trade on Thursday, snapping two days of sharp losses, after data showed a fourth weekly drawdown in U.

Russia is calling on oil producers around the world to refrain from increasing output, Energy Minister Alexander Novak said on Friday, according to Russian news agencies, just days before he is due to meet officials from OPEC.

Three oil companies said on Thursday they had discovered oil north of the Falklands, setting up potential further confrontation with Argentina which disputes British sovereignty over the islands.

Steps for improvement of safety and workforce confidence in helicopter flights offshore will be one of the main topics at an aviation seminar organized by Oil & Gas UK, to be held in Aberdeen on June 2, 2015.

South African national oil company PetroSA has reportedly suspended three of their top executives, including the Chief Executive Officer (CEO), due to poor performance.

Shell is responsible for the 2012 grounding of a drilling rig offshore Alaska, The U.

Atlantic Offshore Rescue, a standby vessel operator, will today, May 29, unveil the third new vessel in the past 12 months as part of its fleet modernisation programme, representing an investment totalling £300 million ($458.

OPEC is not expected to cut oil production at its meeting in June, and the meeting is expected to be a short one, Saudi Arabia's Al Hayat newspaper quoted an unnamed OPEC source as saying on Thursday.

A helicopter made an emergency landing at Aberdeen Airport after an alarm went off during flight.