Oil rises over 1%

Union Jack Oil UK-focused oil and gas producer Union Jack Oil (AIM:UJO) has continued to profit from the highly successful resumption of production at its flagship Wressle asset, generating revenues underpinning plans for future ventures. The company’s flagship

Europa Oil & Gas (Holdings) plc said that pump and production rates had been increased with Environment Agency approval at the Wressle onshore joint venture. Partners in PEDL180/182 comprise Europa (30% economic interest) Union Jack Oil

Crude oil prices began the week with a 1% gain in mid-morning trade in Asia as the latest news about Red Sea ship attacks sparked concern about the security of oil shipments. At the same time

Crude oil prices began trading this week with a gain, extending Friday’s rally as news emerged that the U.S. federal government is buying up to 3 million barrels for the strategic petroleum reserve. So far, the government has

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand and economic slowdowns in the U.S. and China. Brent crude futures rose

Oil prices rose on Tuesday, supported by a weak dollar and expectations that the OPEC+ producer group would deepen and extend output cuts due to concerns over subdued demand. Brent crude futures were up 57 cents,

The Wressle-1 well has been brought back into production at the joint venture within PEDL180/192 oil field in Lincolnshire. Project partners comprise operator Egdon Energy plc (30%), Union Jack Oil plc (40%) and Europa Oil &

Crude oil prices began the week with gains amid mounting expectations that OPEC+ will deepen voluntary production cuts. Both Brent crude and West Texas Intermediate posted modest gains in mid-morning trade in Asia today, with Brent crude remaining above $81,

Licence PEDL253 holders Union Jack Oil plc (45%), operator Egdon Resources Ltd (35.8%) and Montrose Industries Ltd (19.2%) secured permission after Lincolnshire County Council last year rejected their application. The partners will review the planing inspector’s decision notice

Union Jack Oil plc has won its appeal before the Planning Inspectorate against the refusal of planning permission by the Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the

Oil prices edged up on Monday as the US Dollar slipped and supply concerns mounted over the Biden Administration slamming Iranian oil with tighter sanctions in light of the Islamic Republic’s alleged involvement in the surprise

Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected US Federal Reserve announcement that could provide clues about future interest rates.