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The Johan Sverdrup field holds 1.8 billion to 2.9 billion barrels of oil equivalent and is one of the five largest discoveries offshore

The remaining seven Indian crewmembers of the MV Asphalt Venture have been released by Somali pirates more than four years after the cargo ship was hijacked

Pirates have launched a spate of attacks in the creeks of Nigeria's oil-producing Niger Delta region since last Thursday, killing three policemen and abducting

Toronto-headquartered Pacific Rubiales Energy Corp. announced today that it has entered into a three year Memorandum of Understanding (MoU) and cooperation

Despite falling oil prices, traders in recent weeks have booked just a few tankers to store cargoes at sea as higher freight costs outweigh any profit play for

Malaysia’s largest builder of offshore support vessels, Nam Cheong Limited announced today a planned $30.7 million investment into PT Pelayaran Nasional

The Shell-initiated "Joint Shipping Initiative" has announced $1.5 million in funds to a United Nations Development Program aimed at fighting Somali piracy by

WASHINGTON – The United States on Tuesday became 20th nation to join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships

The Norwegian government said on Monday it would outline plans in spring next year regarding the electrification of the $20 billion Johan Sverdrup oil field in

U.K. oil companies can stop fretting about Scottish independence and go back to combating a slump in output that’s the steepest of any major

This article was written by Tom Nork via TheTeakRail, for reviews of the best marine gear visit TheTeakRail.com. No matter where you are sailing, whether it

Even as it faces $50 billion in potential liabilities from the worst U.S. offshore oil spill, BP Plc is leading the effort to extract crude from deep below the

BP Plc, which has paid more than $28 billion for the 2010 Gulf of Mexico oil spill, seeks to get $750 million of that back by convincing a Texas court that a

Brazilian federal prosecutors accused Batista of financial- market crimes and are seeking to freeze his assets valued at as much as 1.5 billion reais ($641

There are about 300 rigs in the UK North Sea and the cost of decommissioning is expected to exceed 40 billion pounds ($65 billion) until 2040, with expenditure

Chinese oil trader Unipec has booked one of the world's largest ships to store crude off Singapore, trade sources said on Monday, hiring a 3.2 million barrel

Sister vessel to the Island Performer, the Island Constructor was built in 2008 by Ulstein Verft for Island Offshore and is an offshore construction and well

International classification society ABS says it has added the first Japanese-flagged vessel to its classed fleet after having been awarded the status of a

BP Plc acted with gross negligence in setting off the biggest offshore oil spill in U.S. history, a federal judge ruled, handing down a long-awaited decision

An oil tanker off the coast of Texas loaded with $100 million of disputed Iraqi Kurdish crude has pulled its anchor from the water and set sail for the first