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…
A 78-percent refund on exploration aside, drilling is now so “cheap” in Norway, that the drill bit has become the preferred method for newcomer oil companies to get astride some production — quickly.That’s the verdict of Aker BP’s new head of exploration…
French energy giant Total is in advanced talks with privately owned firms Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets, two industry sources said.In July, four banking sources told Reuters…
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…
Italian energy contractor Saipem plans to sign a deal this week with Novatek to build offshore platforms for the Russian firm's liquefied natural gas project, Arctic LNG 2, two sources close to talks told Reuters.Novatek aims to produce as much LNG as Qatar…
Norway's DNO is sticking to its offer to buy Faroe Petroleum for 152 pence per share, valuing the company at about 610 million pounds ($761.65 million), insisting it is an attractive offer despite its rejection by the Faroe board.The Faroe board…
Oil prices ended more than 2 percent higher on Friday after OPEC members and allies like Russia agreed to reduce output to drain global fuel inventories and support the market, but the gains were capped by concerns that the cuts would not offset growing production…
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…
New UK North Sea-focused oil and gas company Tailwind Energy has announced first oil from the 100% owned Gannet E redevelopment to the Triton FPSO. The London-based contracts services company for North Sea work said in a press note that the…
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.The alleged graft was the latest finding of the country's sweeping 'Car Wash' investigation…
Independent crude oil and natural gas producer Canadian Natural Resources (CNR) and its joint venture partner in Cote d'Ivoire, Svenska Petroleum, plan to commence the fourth phase of the development of the deepwater Espoir asset in 2019, on…
Apache Corporation announced it has begun producing from its Garten development on Block 9/18a Area-W in the U.K. sector of the North Sea, ahead of the initial target of first-quarter 2019. The discovery well, which is located 6 kilometers south of the Beryl Alpha Platform…
Norway's Equinor said it has decided with its partners to invest some NOK 1.4 billion ($164.7 million) in a boosting station for the long-producing Vigdis field in the Norwegian North Sea.The new boosting station, expected to come online in the first quarter of 2021…
Oil rose above $60 a barrel on Monday, recovering some of the previous session's near-7 percent fall, although uncertainty over global economic growth limited the gains.Brent crude futures rose $1.84 to $60.64 a barrel by 1445 GMT, while U.S…
Norway's DNO has launched a hostile bid to buy all of Faroe Petroleum in a deal valuing the London-listed company at around 608 million pounds ($781 million), sending Faroe shares up by a quarter.DNO, which already owns 28 percent of Aberdeen-based Faroe…
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