BP has reached settlement agreements with oilfield services firm Halliburton and drilling contractor Transocean, to resolve remaining issues, which includes indemnities between the parties and dismissal of all claims against each other over the April 20, 2010, Macondo Well incident involving the Deepwater Horizon in the Gulf of Mexico.

We want to know the oil and gas workforce's opinion on Unions and the current issues affecting the industry.

Oil-market watchers are struggling to reconcile the large estimated oversupply in the market with the much smaller buildup of reported inventories and narrowing contango in futures prices.

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Oceaneering, an international provider of subsea services to the international oil and gas market, will reduce its workforce in Norway by 100 positions.

Houston-headquartered drilling contractor Hercules Offshore sold four jackups that had been previously cold stacked since 2009.

A burst pipeline off the California coast spilled approximately 21,000 gallons of oil into the ocean and onto beaches Tuesday as officials scrambled to secure the area, Reuters reported.

A/S Norske Shell has received consent from the Petroleum Safety Authority (PSA) Norway to extend the lifetime of the Draugen platform, in the Norwegian Sea.

Faroe Petroleum, a partner in the Statoil-operated Bister exploration well in the Norwegian Sea has said that drilling has reached target depth, and the well found no hydrocarbons.

Talisman Energy Norge AS, operator of production licence 672, has concluded the drilling of wildcat well 15/12-24 S, in the North Sea.