News

Fourth quarter profits declined to $2.1 billion from $7.3 billion a year earlier

Oil prices fall after warning from World Bank

A strong warning from the World Bank that growth in Asia may slow further dragged down the price of oil today.

Fuel costs have doubled under Obama

California petrol 'crisis' lets Romney stay on the offensive

Rising prices play to challenger's claim that fuel costs have doubled under Obama

French oil deal cuts fuel costs

France has cut the price of petrol and diesel by up to six euro cents per litre in a move aimed at fulfilling a key campaign pledge of president Francois Hollande.

Roman Ambramovich to learn Boris Berezovsky case outcome

Chelsea Football Club owner Roman Abramovich will discover this week whether he has won a multibillion-pound legal battle with fellow Russian oligarch Boris Berezovsky, court officials have said.

Cuadrilla looks to drill new well

Cuadrilla Resources is to submit a planning application for a horizontal well in Lancashire to discover the viability of recovering gas trapped within the county's shale foundations.

Time almost up for Shell to begin Arctic drilling

Shell is racing to begin a massive drilling campaign in US Arctic waters before they freeze over and postpone activities by a year.

The company has set aside $38bn to cover the bill for the Gulf of Mexico oil spill, which claimed 11 lives

BP's troubled waters

As problems continue to pile up, the oil giant's claim to have turned a corner is still seen as premature

Shell's shares slide after fall in quarterly profits

Shares in Royal Dutch Shell yesterday fell more than 2 per cent to the bottom of the FTSE 100 index after Europe's biggest oil major surprised the City with a 13 per cent fall in profit to £5.7bn.

Chinese oil giant agrees £10bn deal for Canada's Nexen

Cnooc has agreed to buy the Canadian oil producer Nexen for $15.1bn (£9.7bn), in a deal that could make the Chinese oil giant the operator of the giant Buzzard field in the North Sea.

Esso and its contractor charged over Fawley refinery death

Esso and one of its contractors are to be prosecuted over the death of a sailor at one of Europe's largest oil refineries, the Crown Prosecution Service (CPS) said today.

Scores killed in Nigeria fuel tanker fire

A tanker truck caught fire and exploded in Nigeria today shortly after breaking down, killing at least 95 people who then rushed to the scene to scoop fuel, an official said.

Leading article: Preserving the Arctic wilderness must be a priority

It is difficult to overstate either the pristine beauty or the scientific value of the vast Arctic wilderness. As one of Earth's few remaining untouched ecosystems, it is an environmental paradise of inestimable variety and wonder.

Total begins bid to 'kill' gas leak on North Sea oil platform

An operation to stop a gas leak on a North Sea oil platform has got under way.

Soaring oil price fuels a jump in Shell profits

Shell has reported an 11 per cent rise in profits for the first quarter, as the soaring price of oil outweighed the drag of lower US gas prices on its bottom line.

Call for 600m fracking limit

Controversial "fracking" for shale gas should only take place at least 600 metres down from aquifers used for water supplies, scientists said today.

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