The halving of the oil price pushed it deep into the red.

He added that the company was looking for further savings to help it to cope with the lower oil price, which stood at $48.63 yesterday.

This was completed at the end of last year, just as the oil price reached its lowest ebb.

The decision to sell down probably will require some recovery in the oil price.

The shares, which have declined from about 780p in the summer on the back of the oil price, rose nearly 40p to 538p.

It may turn out that there has been manipulation of oil prices and that this has fed through to the petrol pump.

Oil prices are going to be soft over the long term.

The original deal was predicated on oil prices of about $67 a barrel.

Prices for liquefied natural gas under contract, which tend to be linked to but lag oil prices, should also be coming down.

The soft landing view rests on an analysis of the decline in oil prices in the past two months that seems flawed.

The sands represent, thus, the second-largest oil reserve on the planet.

But few events so dramatically underscored the need for a strategic oil reserve as the 1973-74 oil embargo.

A massive oil reserve was found in 1967.

The plant continues to operate as a refinery while at the same time storing a healthy oil reserve.

The reserve has around 846 million barrels, or 20% of the country's proven oil reserve.

Around the world, similar problems are being stored up in countries that lack oil resources of their own.

Let's hope that as we enter an era of dwindling oil resources, the need to provide alternatives and to use a common household waste product develops with greater urgency.

But the 'betrayal' was necessary to achieve victory as rapidly as possible and to protect oil resources.

Some studies suggest that up to 95 per cent of the area's oil resources are yet to be developed and excitement has been building.

This process will be increasingly significant as crude oil resources are depleted.

Heads of local government answer to him; a quarter of the country's oil revenue goes to them.

This year the expenditure will be covered by oil revenue.

It receives money through ransoms, oil revenue, tax, racketeering and looted antiquities.

His feather-bedding of cronies, his suppression of critics and his rigging of elections were accepted as long as government seemed halfway competent and committed to redistributing oil revenue.

With a growing middle class demanding its share of the pie, and oil revenue shrinking, the pressure to scale back the huge expense of its regional ambitions will only intensify.

And it's not the only recent case of mistaken identity in the oil sector.

It wasn't all good news in the oil sector.

There's a risk — the mayhem in the oil sector testifies to that — but it's a long way from the horror of a negative yield.

Many analysts believe that only sanctions targeting the country's oil sector — its economic lifeblood — will be strong enough to make it change course.

There was some rare good news from the oil sector.

He would do drawings, an oil sketch and a final work, so you get these beautiful little sketches.

The oil sketch, measuring 26.5cm x 43.5cm, was dated to around 1809-10 by the stylistic handling and the use of millboard as a support.

He was very modern in his methods, and more or less invented the oil sketch as a genre, bringing colour into his preparatory works 50 years ahead of his time.

Beautifully painted even at the preliminary oil sketch stage.

The popularity of the oil sketch engendered the need to formulate distinctions.

Place on a baking tray lined with parchment paper and spray with a light oil spray.

Switch your thick lotion for this oil spray.

Swapping it for a low-calorie oil spray helps control how much you use, while also bringing calorie count down by up to 150 per meal.

Spray your hands with vegetable oil spray and shape mixture into golf-ball-sized shapes, then put on to baking tray.

Meanwhile, spray a small pan with olive oil spray.

It also became apparent that peak oil - the period when oil supply would cease to grow - was likely to come sooner than anyone had thought.

For the future, oil supply will be a zero-sum game.

The closures will cut global oil supply by more than one million barrels of oil a day, or 1.4 per cent of total production.

It will cast further doubt on the oil industry's ability to continue to meet demand for substantial growth in oil supply.

This was designed to cut off the oil supply when the explosion happened but it had failed.

It was oil which created the conditions which produced revolution and it has been oil wealth which has fuelled the continuing revolution ever since.

Some fans will see sultans wishing to spray oil wealth as an easy way to buy the best players.

However, he insisted that the oil wealth would not be squandered.

The population has more than tripled over the past 34 years; even the oil wealth has failed to maintain standards of living for all.

We frittered away the opportunity that the bonanza of gas and oil wealth gave us to reshape our economy.

Weighing 50,000 tons, the platform will produce oil and gas in water depths of 6,000ft.

Several neighbouring fields use its pipes and platforms to produce oil and bring it ashore.

In other words, they don't produce oil, nor do they plan to.

We are engineering sugarcane, the most productive plant in the world, to produce oil that can be turned into bio-jet fuel.

If economic growth slumps, so will energy prices - making expensive new projects to produce oil and gas uneconomic.

Rub oil over the fish fillets and arrange on the grill pan.

Just before cooking, rub oil over the skin with a good helping of sea salt.

He plonked himself down on the sunbed next to me, rubbed oil over his body and started chatting.

She cleans herself by rubbing oil into her skin.

Finishes were hand rubbed oil or polyvinyl epoxy.