Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect the trend to continue as new technology and friendly regulations attract investment offshore.

The decline of North Sea industry in Scotland has triggered Aberdeen’s economic downturn

Reserves are depleting faster than ever and forcing producers into relentless reinvestment with geopolitical consequences

Policymakers are trying to stave off a potential fuel-supply crunch while refineries look to close.

YouTube video by The White House

BP's recent discovery of a giant oilfield offshore Brazil has reignited investor enthusiasm, echoing the aggressive exploration era two decades ago when companies were thirsty for resources amid fears the world was running out of oil.

Key among the plans is a proposal to build up to 12 advanced modular nuclear reactors in Hartlepool.