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  • *Statoil is test case via exploration in Canada fields. OSLO, Nov 16- Norway's Statoil risks millions of dollars in extra costs in Canada- a test case that could spell problems for other oil firms too as coastal states extend their seabed territories far into resource-rich ocean depths. The rules- articles of the U.N. Convention on the Law of the Sea- have thus far been...

  • Can low oil prices be good for the environment? Friday, 14 Nov 2014 | 11:35 AM ET

    NEW YORK— Deepwater drilling rigs are sitting idle. Enormous new projects to squeeze oil out of the tar sands of Canada are being shelved. "Low prices keep the dirty stuff in the ground," says Ashok Gupta, director of programs at the Natural Resources Defense Council.

  • Oil price crash has silver lining for Norway Friday, 14 Nov 2014 | 7:07 AM ET

    OSLO, Nov 14- Norway, Western Europe's top crude producer, looks set actually to benefit from the oil price crash as its energy sector is forced to relax its stranglehold over much of the economy and non-oil firms profit from more favourable business conditions. Although it generates almost a quarter of its GDP from oil and gas, about the same as Russia or Venezuela,...

  • Letter from North Dakota: The Oil Party Rocks On Thursday, 13 Nov 2014 | 12:06 PM ET

    WILLISTON, N.D., Nov 13- Falling oil prices have spooked Wall Street and even parts of Texas. But in North Dakota's booming oil patch, the crude-fueled party carries on. "The oil price drop is a topic of discussion here," said Joel Lundeen, an owner of The Bakken Club, a $5,000 initiation fee dining establishment in Williston, the de facto capital of the state's oil boom "But...

  • *Many Chinese firms fare badly: Transparency International. BERLIN, Nov 5- The world's biggest companies disclose little or no financial details about their operations abroad, according to a report by Transparency International, which singled out Chinese companies but pointed to U.S. tech giants like Amazon and Google as well. The Berlin- based...

  • *Many Chinese firms fare badly- Transparency International. BERLIN, Nov 5- The world's biggest companies disclose little or no financial details about their operations abroad, according to a report by Transparency International which singled out Chinese firms but also U.S. tech giants like Amazon and Google. The Berlin- based anti-corruption watchdog named...

  • LONDON, Nov 4- European shares extended losses in late trading on Tuesday after Reuters reported that central bankers in the euro area planned to challenge European Central Bank chief Mario Draghi over his secretive management style. Markets have increasingly come to expect that disappointing economic numbers from Europe will eventually prompt the ECB to...

  • LONDON, Nov 4- European shares fell on Tuesday as the European Commission's move to cut its growth forecast for the euro zone prompted investors to trim their equity exposure and a sharp drop in oil prices tripped up energy shares. The STOXX Europe 600 Oil and Gas index fell 3.3 percent, the biggest sectoral decliner, tracking a drop in crude oil to a more than...

  • *Index cuts gains after European Commission forecasts. LONDON, Nov 4- European shares surrendered early gains on Tuesday after the European Commission cut its growth forecast for the euro zone and said the currency bloc will need another year to reach even a modest level of growth. "There is still nervousness in the market about the euro zone's economic outlook,"...

  • OSLO, Nov 3- Statoil's giant Johan Sverdrup oil field could cost as much as $32.5 billion, the company said in its first full estimate of the price tag to develop Europe's most expensive ever oil and gas project. Discovered in 2010, Sverdrup is the biggest North Sea find in decades, reinvigorating Norway's oil sector where production has been declining for more...

  • *Anadarko in talks with China's CNOOC for major contract. MILAN/ SINGAPORE, Oct 30- Countries across Asia are quietly reaching deals to import liquefied natural gas from Mozambique, which could transform its economy and give it a front-row seat in tapping rising global gas demand. The unannounced agreements, five in total, show how war-scarred Mozambique is...

  • LONDON/ BRUSSELS, Oct 28- Oil majors BP and Statoil said the U.S. Federal Trade Commission was closing a probe into anticompetitive practices in oil price reporting, while a European official said the EU investigation was still going on. European Commission officials in May 2013 raided the offices of oil majors BP, Shell and Statoil as part of an investigation of...

  • LONDON, Oct 28- BG Group reported a worse-than-expected 26 percent fall in third-quarter operating profit as its output in Egypt halved and a steep drop in oil prices took its toll on Britain's third-biggest energy company. However, the oil and gas producer- which has poached long-serving Statoil chief executive Helge Lund to help turn around the flagging...

  • LONDON, Oct 28- BP said on Tuesday it was told by the U.S. Federal Trade Commission it was closing its probe into anticompetitive practices in oil price reporting and assessment, but other regulators were still investigating. European Commission officials in May 2013 raided the offices of oil majors BP, Shell and Statoil as part of a probe into suspected...

  • OSLO, Oct 28- Big oil and gas finds in waters along Europe's northern edge may remain undeveloped now that oil prices have dropped, keeping potential supply of over a billion barrels of oil equivalent out of the market for the foreseeable future. Projects such as Statoil's $15.5 billion Johan Castberg in the Barents Sea and smaller finds by Shell, OMV and others...

  • LONDON, Oct 28- BP said on Tuesday it was told by the U.S. Federal Trade Commission it was closing its investigation into anticompetitive practices in oil price reporting and assessment. European Commission officials in May 2013 raided the offices of oil majors BP, Shell and Statoil as part of a probe into suspected manipulation of oil and biofuel prices.

  • HOUSTON, Oct 27- Venezuela's PDVSA has confirmed it will import light crudes as a diluent for its extra heavy oil production, a cost-saving move for the state-run company that also reveals delays and problems in its main output strategies. The Petrocedeno upgrader, operated with Norway's Statoil ASA and France's Total SA, will be under maintenance as of early...

  • DAR ES SALAAM, Oct 25- Tanzania has held talks with France's Total and Britain's BP over oil and gas exploration, its energy ministry said on Saturday, aiming to add to major companies active in its thriving energy sector. Companies already present in the east African state include Norway's Statoil, Brazil's Petrobras, Royal Dutch Shell, BG Group and Exxon Mobil..

  • European stocks suffer biggest one-day slide since 2011 Wednesday, 15 Oct 2014 | 12:49 PM ET

    *$255 bln wiped off the market value of STOXX 600 stocks. PARIS, Oct 15- A sell-off in European stocks accelerated on Wednesday, with a key index suffering its biggest one-day slide in nearly three years as investors slashed exposure to risky assets on mounting worries about global growth. That is more than Portugal's GDP and more than the entire market...

  • *Europe's fear gauge VSTOXX hits 2- year high. PARIS, Oct 15- A sell-off in European stocks accelerated on Wednesday as investors slashed exposure to risky assets such as equities and oil on mounting worries about the pace of global growth. Greek equities featured among the top losers, as Athens's benchmark ATG index succumbed to a second day of selling pressure...