Brazil oil auction: Lone bid wins exploration rights

The rights to explore Brazil's biggest oilfield have been won at an auction by a consortium led by Brazil's state-run Petrobras, backed by Total, Shell and Chinese firms.

South Sudan moves closer to oil pipeline to the south

South Sudan has moved closer to its target of gaining access to a pipeline to export its oil to the south.

BP partner Rosneft and Exxon to drill in Siberia

BP has been forced to take a backseat in its drive to expand its Russian operation after its joint venture partner Rosneft confirmed it was to explore for oil in Western Siberia with US rival ExxonMobil.

BP may get second chance in Arctic through Rosneft tie-up with TNK-BP

BP could be handed a second shot at exploring for oil offshore in the Arctic with Russia's Rosneft, in a possible tie-up through its joint venture TNK-BP.

US, UK and France consider oil release to curb fuel prices

France is in talks with the United States and Britain on a possible release of strategic oil stocks to push fuel prices lower, French ministers said on Wednesday, four weeks before the country's presidential election.