Articles | Searching for 'black gold'

Searching for 'black gold'

Published: Thursday, 3 July 2008, 6:01PM

Oil prices have hit yet another record high, reaching more than $146 a barrel as the Prime Minister warned they could continue climbing.

ITV News' economics correspondent Daisy McAndrew has travelled to a Statoil rig in the North Sea off Bergen, Norway to report on what part energy companies can play in solving the oil crisis.

Statoil is a leading UK energy company which undertakes exploration, development, production, marketing and supply of oil and gas.

With global demand at an all time high, many people have called for oil companies to simply increase production, but as our report shows, that is often easier said than done.