By Tyler Losier, Energy Reporter, Oil & Gas 360 British and Liberian-flagged vessels seized by Iran, who President Trump calls “nothing but trouble” Iran has seized two oil tankers – one British-flagged and one Liberian-flagged – in the Strait of Hormuz, following through on its threats to retaliate after one of its ships was seized by U.K. authorities off the
Marathon Oil Closes on Sale of U.K. Business
By Tyler Losier, Energy Reporter, Oil & Gas 360 Ithaca will now be second largest producer in North Sea Ithaca Energy Limited will be acquiring Chevron North Sea Limited (stock ticker: CVX) for $2 billion, adding 10 producing field interests to its existing portfolio. Four of those interests are related to assets already operated by Ithaca, leading to an approximately
PM Theresa May’s snap election backfires in the U.K., weakening the pound; dollar strengthens; oil drops A snap election in the U.K resulted in a hung parliament, weakening the governing Conservative’s position ahead of Brexit. Conservatives won 318 seats with a majority requiring 326 seats. The Labour Party won 261 seats, followed by the pro-independence Scottish National Party with 34.
Production in the U.K increased 100 MBOPD in 2015 Petroleum production in the U.K. showed an increase in 2015 – after many years of steady decline. Fields brought online in the second half of 2014, along with some brought on in 2015, and improved performance in the U.K.’s largest offshore field contributed to increasing its production by 100 MBOPD, according
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