UK Business News

Oil supplier BP have announced a ‘giant’ oil discovery in the Gulf of Mexico reaffirming the area’s importance to the Western based oil majors.
BP said in a statement on Wednesday that it had made the find at its Tiber Prospect in the deepwater Gulf of Mexico. The well was drilled in Keathley Canyon block 102.
The [...]

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The sharp decline in the price of crude oil since the middle of 2008 has been blamed for a huge fall in profits from both Royal Dutch Shell and rival Exxon Mobil.
Reported profits for the period April to June 2009 showed profits at Shell had fallen 70% from the same period a year earlier at [...]

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