Norway plans to expand the offshore oil and gas acreage offered to companies under its annual licensing round in so-called predefined areas (APA), oil minister Kjell-Boerge Freiberg said on Thursday.The 2019 APA round will offer 90 new blocks…
Alaska Gasline Development Corp (AGDC) said it signed an agreement with BP PLC and Exxon Mobil Corp to help advance the state-owned company's proposed $43.4 billion Alaska liquefied natural gas (LNG) project.'Our respective organizations share…
Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on oil firms' agenda following a sharp fall in crude prices in 2014…
Total has agreed to buy a 10 percent stake in the Arctic LNG 2 project from Russia's Novatek, as the French energy group looks to build up its presence in the area to service a fast-growing Asian market.The companies said on Tuesday Total would…
A court delivered a painful nip to European Union fishermen on Thursday by tightening Norway's grip on snow crab catches in the Arctic, a ruling that may also let Oslo claw more control of oil and gas from other nations.Fishermen from the European…
Russian gas producer Novatek said that it had signed a deal with German tech giant Siemens to buy compressors for its new Arctic LNG 2 natural gas liquefaction plant.Novatek's second LNG export facility after Yamal LNG, the 19.8 million mt/year…
Gazprom Neft, the oil arm of Russian gas giant Gazprom, is studying the possibility of its own liquefied natural gas (LNG) production in the Arctic as it tries to monetize its vast natural gas reserves.The discussions follow the successful launch of the Arctic-based Yamal LNG plant…
Norway's Equinor has put on hold the drilling of a key exploration well in the Barents Sea after a well incident last week, the company said on Monday.The incident occurred when Seadrill's rig West Hercules was drilling the Gjoekaasen well offshore Norway…
Regulators in the U.S. state of Alaska will investigate all of the oil and natural gas wells operated by BP Plc at its Prudhoe Bay oil field after the release of a small amount of crude oil and gas from a well that had earlier been shut.The…
U.K.-based international bank Barclays announced a new energy policy that significantly restricts the bank’s financing for the exploration or extraction of oil and gas in the Arctic.The policy rules out funding for companies seeking to drill…
Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday.Norway and Russia in 2010 agreed a maritime border in the Barents Sea…
Even as a partial shutdown halts the functions of many U.S. government departments, forcing the Department of the Interior to close national parks, the Trump administration is continuing to push for the expansion of oil drilling on sensitive…
Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) last year on an annual average basis, data from its energy ministry showed on Wednesday.The total surpassed the previous annual record average of 10…
PAO NOVATEK announced Thursday that commercial crude production has begun at the Yaro-Yakhinskoye field developed by Arcticgas, a joint venture between NOVATEK and Gazprom Neft.The field’s crude oil production capacity is estimated at 1.2 million tons per annum…
Russian oil producer Gazprom Neft said on Monday that it expected its 2019 investment excluding joint ventures to total 374 billion roubles ($5.62 billion).It said it expects its 2018 hydrocarbons output to stand at 92.8 million tonnes of oil equivalent in 2018…
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