Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria's coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cashflow.Output from Egina, which is located in waters about 1…
U.S. crude oil output hit an all-time high of more than 11.5 million barrels per day in October, according to government data released on Monday.U.S. crude production rose 79,000 bpd in October to 11.537 million bpd, the U.S. Energy Information Administration said in a monthly report…
U.S. crude inventory has leveled off after declining three weeks in a row. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates U.S. crude inventory as of December 21 was the same as seven days earlier.The past…
Royal Dutch Shell plc announced Friday it has completed the sale of its New Zealand upstream oil and gas assets, marking the supermajor's exit from the Oceania country.The $578 million sale to Austrian integrated oil and gas company OMV includes the Māui…
Norwegian energy company Equinor announced Friday it has completed the sales of two non-core discoveries on the Norwegian Continental Shelf (NCS) for a combined $470 million.Equinor announced in October that it would divest from the King Lear…
Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices.Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to a low of $52…
Indonesia has announced the winner of its third bidding round that will operate oil and gas blocks in three locations, Deputy Energy Minister Arcandra Tahar, said on Thursday.The winners are Pearloil (Theralite) Ltd. for South Andaman block…
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 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 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…
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP…
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…
Europe's oil and gas exploration and production company with operations focused on Norway Lundin Petroleum AB said that its wholly owned subsidiary Lundin Norway AS has completed the drilling of the Silfari exploration well 6307/1-1S located in PL830 in the Norwegian Sea…
Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.Mohammad Barkindo said to reach the proposed cut of 1…
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…
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