August 23, 2016

A 1km exclusion zone will be set up around the Transocean Winner rig while it is towed to safety around 54 miles away.

A 17,000-ton oil rig that ran aground in the Outer Hebrides has been safely towed off the rocks by two tug boats.

Stornoway coastguard said the Transoce...

April 14, 2016

BP's chief executive is expected to face anger from shareholders today as they vote on a 20% rise in his pay package for a year that saw the firm record its worst financial loss for 20 years.

 

Bob Dudley goes into the oil firm's AGM with criticism over a $19.6m (£13.8m)...

October 29, 2015

Oil giant Royal Dutch Shell has slumped to a loss of $6.1bn (£4bn) for the third quarter after taking a $8.2bn (£5.4bn) hit from ditching long term projects and the impact of lower oil and gas prices.

 

Shell said it had taken a $2.6bn (£1.7bn) hit on the recent decision...

October 27, 2015

 

BP has taken a fresh hit from the slump in oil and gas prices as third-quarter profits fell by half and it set out plans for a further $1bn cut to 2015 spending.

 

The company, a staple of many UK pension funds, said replacement cost profits dipped to $1.23bn (£804m) fr...

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