Oil fell more than $1 a barrel to below $79 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.U.S. crude inventories rose 6.5 million barrels last week…
Norwegian Energy Company (Noreco) plans to acquire offshore assets on Britain's continental shelf in 2019, following its purchase of Shell's upstream oil and gas licenses in Denmark, its chairman told Reuters on Thursday.The Oslo-listed company on Wednesday announced a $1…
Iraqi Oil Minister Jabar al-Luaibi issued a decree transferring the ownership of nine state-owned oil companies from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday.Luaibi…
Gazprom's output in the last nine and a half months is up by 6.8 percent year on year and the Russian gas producer expects production close to 500 billion cubic metres (bcm) this year, RIA news agency cited its chief executive as saying.The TASS news agency…
Italian oil and gas major Eni has signed in Maputo the contract for the exclusive exploration and development rights of the offshore block A5-A, in the deep waters of the Northern Zambezi Basin, approximately 1,500 km to the north east of the capital Maputo…
The latest Q modeling, and Q-compensating imaging techniques bring greater clarity to Northern Viking GrabenCGG has recently completed seismic depth imaging of its entire Northern Viking Graben multi-client survey, in the Norwegian North Sea…
Natural gas abounds in North America. At the end of 2016, Canada and the U.S. shared 414 trillion cubic feet of proved reserves, with the U.S. the world’s largest producer and Canada the fourth largest. Unsurprisingly, there’s a keen appetite for developing LNG facilities across the continent…
Royal Dutch Shell has agreed to sell its Danish upstream business to Norwegian Energy (Noreco) in a deal valuing the assets at $1.9 billion, as part of its wider divestment strategy, the company said on Wednesday.The sale brings Shell's three-year $30 billion divestment plan close to its conclusion…
Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway, according to state officials and transcripts from public hearings…
Mario Mehren, CEO of Wintershall, Germany's largest crude oil and natural gas producer, has presented Wintershall’s growth plans in Norway during a visit by Norway's Prime Minister, Erna Solberg, to Berlin.Mehren announced a further increase…
Royal Dutch Shell, Brazil's No. 2 oil producer, has attained break-even costs of $30-$35 per barrel in the South American country, its Brazil manager Andre Araujo said on Tuesday.(Reporting by Alexandra Alper; Editing by Bernadette Baum)
Algeria wants to have a new energy law ready by the first half of 2019 and might use Mexico's legislation as inspiration, the CEO of state energy firm Sonatrach said on Tuesday.The North African OPEC member has been preparing changes to its…
Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist.International benchmark Brent crude for December delivery rose 9 cents…
Russia's biggest independent oil producer Lukoil plans to start commercial oil production at its new Caspian field in 2023, the company said on Tuesday.Lukoil said it expected to reach peak production at the Rakushechnoye field of 1.2 million…
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
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