Roberto Abraham Scaruffi

The top five factors affecting the oil price in 2015 As we ring in the New Year, let's take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months

	Maersk Oil spuds well in Norwegian Sea Maersk Oil said exploration drilling has started on the Tvillingen South Prospect in the Norwegian Sea. The prospect is located on the Haltenbanken and is approximately 28k southeast of the Kristin field

	Statoil awards service contracts in Norway Statoil has awarded a number of service contracts for seven  of its bases in Norway worth an estimated NOK 5 billion. The company said contracts have been given to NorSea Group AS, Saga Fjordbase AS and Asco Norge AS

	Brent oil falls below $50 Brent crude was being traded at below $50 a barrel for the first time since 2009 today as the rout in global oil prices continued. The industry benchmark has slumped from $116  a barrel in June,driven by a glut in supply and shrinking demand due to fears over the outlook for world economic growth

	Keppel wins contracts worth $48.7million Keppel Offshore & Marine has won two contracts worth $48.7million. The company’s subsidiary, Keppel Singmarine, will carry out work with Seaways to build a multi-task Anchor Handling Tug (AHT) vessel suitable for a number of offshore activities

	Lundin cuts 2015 spending Lundin Petroleum has cut its expenditure for 2015 by 31% and said it would be focusing its sending on development projects. The company has set its development, appraisal and exploration budget would at $1

	Oil price cuts 'being passed on' The energy industry insisted deep cuts in global oil prices were already being passed on to customers after Chancellor George Osborne announced a review of the impact on items such as fuel bills, air fares and the forecourt price of petrol

	How $50 oil changes almost everything The plummeting price of oil means no more trout ice cream. Coromoto, a parlor in Merida, Venezuela, famous for its 900 flavors, closed during its busiest season in November because of a milk shortage caused by the country’s 64% inflation rate, the world’s fastest

	More Asian subsea construction heavyweights set to come out of Chinese yards Norwegian marine architect Marin Teknikk has revealed that it has the contract with Shanghai Zhenhua Heavy Industries (ZPMC) covering the design and engineering delivery for a large multi-purpose diving support and construction vessel for Singapore-based subsea contractor Ultra Deep Solutions (UDS)

	Oil extends drop below $48 as US stockpiles seen rising Oil extended losses below $48 a barrel amid speculation that US inventories will expand, deepening a global supply glut that’s driven prices to a five-year low

	Energy services firm Hunting reveals plans to sell ship-broking division Energy services firm Hunting yesterday unveiled plans to sell its ship-broking division to an employee benefit trust (EBT), with a deal expected to be signed in the coming weeks

	SPDC agrees £55million settlement after pipeline spills The Shell Petroleum Development Company of Nigeria Limited (SPDC) has agreed a £55million settlement with the Bodo community. Shell’s Nigerian subsidiary has made the payment in respect of two operational spills in 2008

	Obama Keystone veto threat spurs Democrat’s plea for compromise President Barack Obama will not sign a bill introduced  that would approve the Keystone XL oil pipeline, his spokesman said, as a top Democratic supporter urged the administration to seek a compromise

	Hearing in May over Super Puma legal action A hearing over legal action for access to voice recorder data from accident investigators following a fatal helicopter crash is to be held. Four people – three men and a woman – died when a Super Puma crashed off Shetland in 2013

	Malcolm Webb: Meeting with Scottish Labour leader 'very positive' Oil and Gas UK chief executive Malcolm Webb said his meeting with Scottish Labour leader Jim Murphy was "very positive".