The UK’s draft withdrawal agreement for leaving the European Union lacks clarity, which could be damaging to the UK oil and gas industry with increased costs for retaining skilled workers, analysts warn.
Oil fell to two-week lows on Thursday as it extended losses from the previous session amid a rout in global stock markets, with prices also hit by an industry report showing U.S. crude inventories rose more than expected.
Ireland is expected to move all its oil reserves out of the UK as it steps up its preparations for Brexit.
Royal Dutch Shell has reached a final investment decision (FID) for the development of the Fram gas and condensate field in the UK North Sea.
OPEC's leader Saudi Arabia and Russia were trying on Thursday to convince fellow oil producers to raise output from July to meet rising global demand, with Iran still signalling it would support only a modest increase in supply.
Angus Energy Plc. has teamed up with UK fracker Cuadrilla for the controversial Balcombe oil field in southern England. The Balcombe project is a controversial one as it was at the centre of high profile anti-fracking protests back in 2013.
Shell corruption probe: Top executives knew part of £1.3bn Nigerian oil deal would go to convicted money launderer
North Sea oil and gas industry cost UK taxpayer £396m in 2016
IEA says global oil market nears balance even as stocks rise
