European equities closed higher for a second day on Friday, as investors brushed off a worse-than-expected U.S. nonfarm payrolls report.» Read More
MOSCOW, March 14- A possible ban on visas for the heads of Russia's two biggest energy firms, Rosneft and Gazprom, may hamper their international partnerships but also harm their Western partners and push the two towards the East.
LONDON, March 6- BP Plc said regulators from the United States and Asia have asked it for information after the European Commission's started an investigation last year into suspected manipulation of oil prices. London- based BP, Europe's second-largest oil company, made the disclosure in its annual report released on Thursday.
LONDON, March 5- The crisis in Ukraine has ended one of the biggest short positions in recent European natural gas trading as the threat of a Russian supply cut forced speculative dealers to close positions they had profitably held throughout winter.
AUGUSTA, Maine-- More than five years ago, Maine set ambitious goals to spur wind power development aimed at helping wean the state off fossil fuels. "If we are going to have wind development, how can we maximize the benefits to Maine people who are struggling with very high energy costs and... promote economic development at the same time?"
Believe it or not, climate change technology may be getting a better reception in the oil- and gas-rich U.S. than in Europe.
OSLO, Feb 28- The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms. Activity in the deep waters off West Africa and Brazil will suffer the most, he said. "
*Norway's Statoil already sold 10 pct stake to BP, SOCAR. LONDON, Feb 28- France's Total plans to sell its 10 percent stake in Azerbaijan's Shah Deniz II gas field development, making it the second energy major to reduce its exposure to a project promoted to help Europe diversify its supplies.
*BP expects slight decline in oil output at ACG in 2014. BAKU, Feb 26- A consortium led by British oil major BP plans to invest about $2 billion in its Azeri-Chirag-Guneshli project in Azerbaijan this year where it expects a slight fall in output due to planned maintenance, the company's regional head said.
LONDON, Feb 25- "Nodding donkeys" floating at sea, water injection, and "outside-in" subsea oil taps that can withstand the pressure found in the chamber of a firing gun are some of the technologies vying to keep the oil pumping in Britain's North Sea.
*UK could lose out on 200 bln pounds without new rules. LONDON, Feb 24- Britain said it would create a new oil and gas regulator which will help UK explorers speed up their search for hard-to-access fossil fuel resources in a bid to counter plunging North Sea production rates.
LONDON, Feb 24- Britain urgently needs its oil and gas companies to pay for a new regulatory body to encourage industry collaboration and counter plunging North Sea production rates, a government review, the first since the mid-1990s, said on Monday.
LONDON, Feb 24- Britain's oil and gas industry should pay for the creation of a new regulator which would help companies extract as much oil and gas as possible from North Sea fields, a government-commissioned report said on Monday.
*Brazil, Gulf of Mexico exploration seen unaffected. Notable exploration failures in high-profile places such as Africa's west coast, from Angola all the way up to Sierra Leone, have pushed down valuations for exploration-focused firms and are now forcing oil majors to change tack.
OSLO, Feb 13- Norway's Johan Sverdrup oilfield, the biggest North Sea find in decades, will produce more at its peak than earlier thought and initial development costs will be below forecasts, operator Statoil said on Thursday. "The update is very positive, implies reduced uncertainty," Teodor Sveen Nilsen at Swedbank wrote in a note to clients.
*Q4 orders fall 5 pct to $10 bln vs $9.9 bln f'cast. The company, which makes products ranging from power grids for utilities to industrial robots, said sales growth this year would be challenging as uncertainty in emerging markets, like China, offset growth in the United States and parts of Europe.
OSLO, Feb 13- The development of the Johan Sverdrup oilfield in the North Sea, Norway's most important industrial scheme in decades, will cost 100-120 billion crowns, partners Statoil and Det norske said on Thursday.
LONDON/ OSLO, Feb 7- Norway's Statoil abandoned its 2020 production target on Friday and slashed spending plans so it could pay more to shareholders, becoming the latest oil major to acknowledge the fading appeal of new energy projects.
OSLO, Feb 7- Norwegian oil major Statoil abandoned its 2020 production target and slashed investment plans on Friday, joining rivals in reining in runaway spending and targeting returns over output.
OSLO, Feb 7- Oil and gas major Statoil abandoned its 2020 production target and cut its investment plans, focusing instead on generating cash and improving shareholder returns, it said on Friday. Statoil said it plans to introduce a quarterly dividend payment from this year and promised to use share buy-backs more actively in the future.
OSLO, Feb 6- Drillers face a year of pain as they take delivery of a slew of new vessels ordered during boom times just as oil companies ruthlessly tighten spending on offshore exploration. Drilling stocks are already down by 20 percent since late last year but analysts at Barclays estimate that there is another 35 percent downside, even under a base case.