Iraq oil deal puts pressure on Opec

ExxonMobil and Royal Dutch Shell, the two biggest western oil companies, won the right to develop Iraq’s giant West Qurna oilfield, raising the prospect of a big jump in Iraqi oil supplies

• In depth: Oil
• Opec holds output unchanged

Watchdog forecasts gas glut

The world faces a natural gas surfeit that will cool prices, says the International Energy Agency, raising the prospect that Moscow’s hold over Europe’s energy security will loosen

Green policies expected to hit gas demand

The International Energy Agency believes that the world’s dependence on natural gas will drop dramatically if environmental measures are enacted to limit carbon emissions

Statoil sees no firm evidence of a recovery

The oil company will continue to cut its costs despite the rise in the oil price as it sees ‘risks and uncertainties over how stable the recovery will be’, according to its chief executive

Gold Oil seeks partners to develop Peru find

Gold Oil is looking for partners to help it develop an oil discovery off the coast of Peru, where it has already identified six drilling leads it believes could have significant commercial potential

Total profits hit by falling oil price

Third quarter profits at the French oil major halved to €1.87bn from €4.07bn following this year’s slide in the oil price which averaged $68 a barrel, 41% lower than for the same period last year

Analysis: Burning ambition

Energy: As China’s state oil companies seek ever bigger foreign deals, fears are growing at the extent of the sway it holds in the developing world – but the reality is rather more complex

Russia’s Exillon eyes LSE listing

Oil group in talks with London-based investors about an initial public offering that could value it at about $500m