As the United States raced over the past five years toward becoming a global petroleum powerhouse, the world's biggest oil exporter Saudi Arabia quietly seized a market milestone from America: the largest source of peak summer demand.

The Australian Government today released 29 areas for offshore petroleum exploration in eight basins in Commonwealth waters under the 2015 Offshore Petroleum Exploration Acreage Release.

In 2006, a report by Deloitte roughly defined the digital oilfield as "the evolution and convergence of a number of oil and gas drilling, exploration, digital control technologies coupled with standardised communication technologies".

On May 2 Teekay’s first unit for maintenance and safety (UMS), Arendal Spirit, arrived safely to Rio de Janeiro, Brazil.

Solstad Offshore (SOFF), a Norwegian offshore service and shipping company, will make 50 offshore workers redundant due to sales and lay-ups of their vessels.

SAFE, a Norwegian Union of Energy Workers, has held a meeting on May 21, 2015, with representatives of Norwegian Shipowners’ Association (NSA) to discuss wages.

Statoil Petroleum AS, operator of production licence 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A.

Inefficiency has been a key culprit in the increase in operating costs in the oil industry, executives have heard this morning (May 21) in Aberdeen.

Odfjell Drilling, an international drilling, well service and engineering company, has reported a net profit in Q1 2015 at $18 million compared to Q1 2014 at $23 million, a decrease of $5 million.

Two workers sustained burns in a blast that occurred on Wednesday morning on board the P-56 offshore oil production vessel, operated by Brazil’s oil major Petrobras, Brazilian petroleum union informed.