Finance News

 

Oil Surges 8% After Steep Slide

Dec 26, 2018

Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017.Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov…

Oil Rises to $51 After Steep Slide

Dec 26, 2018

Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.Crude has been caught up in wider financial market weakness as the U…

Oil Falls in Line with Stricken Stock Markets

Dec 24, 2018

Oil fell on Monday, in line with another decline across global stock markets, which came under pressure from concern about a U.S. government shutdown and a worsening world economy.The price of oil has already fallen by more than 30 percent so…

Vattenfall Okays 605MW Kriegers Flak offshore Wind Farm

Dec 21, 2018

Swedish state-owned power company Vattenfall has reached a final investment decision for the 605MW Kriegers Flak offshore wind farm in the Danish waters of the Baltic Sea.Vattenfall has made the final investment decisions for the offshore wind farm Kriegers Flak in Denmark…

Ocean Yield in Standstill Pact with Solstad Offshore

Dec 20, 2018

Norway-based company engaged in the investment in vessels within oil-service and industrial shipping Ocean Yield ASA has entered into a standstill agreement with Solstad Offshore for two anchor handlers built in 2013, the Far Senator and Far Statesman…

Faroe Rebuffs DNO Again

Dec 20, 2018

Britain's Faroe Petroleum reiterated on Thursday its opposition to a hostile bid by Norway's DNO, which it said was 'inadequate' and substantially undervalued the Aberdeen-based firm.DNO, which last week maintained its offer to buy Faroe in…

Husky Energy Cuts 2019 Capex

Dec 20, 2018

Canadian oil and gas producer Husky Energy Inc on Thursday cut its 2019 capital expenditure program by about 8 percent, or C$300 million, citing Alberta's mandatory curbs on output and lower oil prices.The company now expects 2019 capital expenditure of C$3…

DNO Buys More Faroe Shares

Dec 18, 2018

Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…

New O&G Projects to Expected to Accelerate

Dec 17, 2018

The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.Shaken by a sharp drop in oil prices in recent months…

Hunting Expects Oil Producers to Defer Projects

Dec 17, 2018

British oilfield services company Hunting Plc expects oil and gas producers to defer some projects as a recent decline in crude prices could hit their short-term budgets, it said on Monday.Oilfield service companies, including U.S.-based Schlumberger…

Gazprom Neft Sees 2019 Investment at $5.6 Bln

Dec 17, 2018

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…

Oil Slips 2 Percent

Dec 14, 2018

Oil prices dropped about 2 percent on Friday, weighed down by a falling U.S. stock market, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.Brent crude futures for February delivery fell $1…

Moray East Offshore Confirms Financial Close

Dec 14, 2018

UK-based Moray Offshore Windfarm (East)  announced that it has reached financial close – a major milestone marking the commencement of GBP 2.6 bln of project finance investment.The consortiumwhich develops and operates offshore wind farms, known as ‘Moray East’…

Chrysaor Sets Sights on Chevron's North Sea Assets

Dec 13, 2018

Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO…

Faroe Criticizes DNO's Takeover Bid as 'Opportunistic'

Dec 13, 2018

The oil and gas company with focus in Norway and the U.K. Faroe Petroleum has reaffirmed that Norwegian oil giant DNO ASA's GBP608mln ($761.65 million) unsolicited takeover offer for the AIM-listed firm is 'opportunistic' and 'substantially' undervalues it…

Current News

Harvey Gulf Eyes International Markets

Harvey Gulf Eyes International Markets

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Oil Retreats in Face of Renewed Coronavirus Uncertainty

SembMarine's Former Consultant in Brazil Gets 19 Years in Prison

SembMarine's Former Consultant in Brazil Gets 19 Years in Prison

Turkey Expands Drillship Fleet

Turkey Expands Drillship Fleet

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