Meeting Facebook CEO Mark Zuckerberg was a highlight of Michael Sayman’s internship with the social media giant. But there are financial rewards too, and it has become standard for US based engineering interns to snag free housing, transportation and salaries of more than $6,000 a month.

Facebook rolled out the red carpet for Michael Sayman when the social network hired him for a job that started last month, including flying him out to(...)

One significant oil discovery off the Irish coast may be “enough” to supply all of the country’s oil needs and more, according to Irish exploration fi(...)

ExxonMobil says it does not envisage a low-carbon scenario of the kind many climate researchers advocate. The company believes the costs this would entail, and “the damaging impact to accessible, reliable and affordable energy resulting from the policy changes . . . are beyond those that societies, especially the world’s poorest and most vulnerable, would be willing to bear”. Photograph: Andrey Rudakov/Bloomberg

How much of the world’s fossil fuel reserves will eventually be burnt? This is not just a question for those concerned with climate policy. It is a(...)

Tullow Oil has sold its majority stakes in two UK North Sea gas fields for $75.6 million (£45 million) plus royalty payments on future developm(...)

The Suncor oil sands extraction facility near the town of Fort McMurray in Alberta, Canada. Photograph: Mark Ralston/AFP

At a time of Russian sabre-rattling and with the Middle East in turmoil, a welcome geopolitical treble win could be on the cards. The United St(...)

Shell said it would postpone the project to provide subsea compression at Ormen Lange, Norway’s second-biggest gas field, because costs have soared and the technology is uncertain. Photograph: Simon Dawson/Bloomberg

Royal Dutch Shell has dropped an innovative project to provide compression for a major Norwegian gas field without the need for a platform, dea(...)

Takeda Pharmaceutical’s shares fell as much as 8.8 per cent to an eight-month low in Tokyo trading today after the US federal jury verdict. Photograph: Kiyoshi Ota/Bloomberg

Takeda Pharmaceutical said it would contest $6 billion in punitive damages imposed by a US federal jury in a case alleging Japan’s largest drug(...)

Total will join other majors, ExxonMobil, Statoil and Royal Dutch Shell, to develop Russian shale oil, a key driver in Moscow’s efforts to at least maintain its oil output at more than 10 million barrels per day.  Photograph: Fabrice Dimier/Bloomberg

French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the webs(...)

 Exxon Mobil’s biggest international exploration opportunity may be imperilled by Russian President Vladimir Putin’s Ukrainian foray, as US-based companies could face restrictions on doing business in Russia. Photograph: Reuters/Alexei Druzhinin

The market in Dublin treaded water yesterday as European stocks were little changed generally, after rallying on (...)

Profits at oil giant BP have fallen from $3.9bn to $2.8bn. Photo: Bloomberg

BP, Europe’s second-largest oil company, said fourth-quarter profit fell from a year earlier as output declined and refining margins weakened. The oil(...)