Oil supermajor BP has reached an agreement to pay US$175 million (£121.37 million) to settle claims by shareholders that the company had played down the severity of the 2010 Gulf of Mexico oil spill.
The Maersk Group announced today it has taken the decision to separate the transport and logistics company from the oil and oil-related businesses of the Group.
Although the oil market may be showing signs of recovery, this is happening at a slow pace and it might still take until H1 2017 for oversupply to disappear.
UK-based demolition company DSM disclosed plans to create a facility to decommission redundant oil and gas rigs in Orkney.
Ithaca Energy has just expanded its position in the North Sea Greater Stella Area (GSA) following the acquisition of two satellite fields.
Hundreds of offshore oil workers contracted by Wood Group are planning to start a second strike on seven Shell platforms in the UK North Sea.
Bibby Offshore announced a multimillion pound contract to provide air diving and remotely-operated vehicle (ROV) inspection and construction services.