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Venture Production has agreed to acquire the interests of Tullow Oil in certain North Sea gas fields.

Oil producer Imperial Energy has positioned itself for a $600 million rights issue after struggling to secure debt financing for future drilling work.

Oil giant Royal Dutch Shell has moved to reassure investors that its reserves are still adequate.

Oil equipment and services firm Lamprell has reshuffled the board and top management ahead of it move to the main board.

Oil giant BP will cut 5,000 jobs after profit fell 22% last year. Analysts believe a recovery is possible as restructuring plans kick into action.

Royal Dutch Shell has revealed profits of £13.9 billion for 2007 - a new record for a UK company. Today's figures benefited from a better-than-expected finish to the year.

Bad weather and equipment problems have delayed initial gas production from Granby Oil & Gas's Tristan development.

Shares in FTSE 250 oil producer Burren Energy fell 15% today to £10.10 after the collapse of a £1.7 billion takeover.

Oil and gas explorer Egdon Resources has finalised plans to spin off its gas storage business.

A surprise drop in stockpiles and concerns over winter supplies have pushed oil to a new record of $96 a barrel.