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Statoil ASA

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  • Statoil profits hit by lower oil, gas prices Wednesday, 29 Oct 2014 | 6:56 AM ET

    HELSINKI— Norwegian energy company Statoil says impairment charges and lower oil and gas prices pushed it into net loss of 4.8 billion kroner in the third quarter. Statoil said it continues to expect capital expenditure of some $20 billion this year and that total exploration activities, of some 50 wells, would amount to $3.5 billion this year.

  • 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.

  • Floating gas terminal anchored in Lithuania Monday, 27 Oct 2014 | 10:34 AM ET

    TALLINN, Estonia— A giant floating natural gas terminal arrived Monday in the Lithuanian port of Klaipeda as the Baltic country tries to further reduce its reliance on energy supplies from Russia. The three Baltic nations of Lithuania, Latvia and Estonia get all their natural gas from Russia and lack connections to the wider European pipeline system that...

  • 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...

  • *Denmark, Finland seen shutting abt 2,000 MW of condensing power. Fossil power plants in Finland and Denmark act as swing-producers, helping to meet demand when hydropower production in Norway and Sweden falls due to dry weather. "Demand for coal condensing power in the Nordic power market has decreased as a result of the economic recession and the drop in the...

  • UPDATE 3-Statoil's CEO quits for top job at BG Group Wednesday, 15 Oct 2014 | 6:35 AM ET

    *BG shares rise, Statoil falls 3 pct. *Statoil says no change in strategy. OSLO/ LONDON, Oct 15- Statoil's long-serving chief executive Helge Lund unexpectedly quit on Wednesday to take on the top role at smaller rival BG, where he has been promised a big pay rise if he can turn round the flagging British gas and oil producer.

  • UPDATE 2-Statoil CEO quits to take top job at BG Wednesday, 15 Oct 2014 | 4:58 AM ET

    *BG shares rise 3 pct, Statoil falls 3 pct. OSLO/ LONDON, Oct 15- Statoil's long-serving chief executive Helge Lund unexpectedly quit on Wednesday to take on the top role at BG Group where he has been promised a big rise in pay if he can turn the flagging British gas firm around. "has built a world-class exploration and production portfolio at Statoil, and the company is...

  • *Lundin Petroleum shares rise 7 percent. OSLO, Oct 14- Swedish oil firm Lundin Petroleum has made a big oil and gas discovery in the Norwegian Arctic, sending its shares more than 7 percent higher and raising hopes that more oil could be found in the remote region. Lundin Petroleum's find in the Alta prospect contains between 125 and 400 million barrels of oil...

  • Companies that were already deep in the red when the price of Brent was at $109 a barrel last year are having to redraw business plans for prices as low as $90. According to Morgan Stanley analysts, the seven majors- Royal Dutch Shell, BP, Exxon Mobil, Chevron, Total Statoil- ran a collective deficit of $55 billion last year. They generated $207 billion of operating cash...

  • Oil traders say OPEC may be heading for price war Thursday, 2 Oct 2014 | 11:27 AM ET

    *Traders speculate OPEC price war looming. LONDON/ DUBAI, Oct 2- Saudi Arabia's decision to slash the official selling price for its oil has sparked trader talk of an emerging OPEC price cutting war, as members of the producer group could compete to defend their market share amid ample supplies and tepid demand. Benchmark Brent crude prices continued to slide...

  • MOSCOW, Oct 2- Foreign-led projects lifted Russian oil output last month to within reach of a post-Soviet record, showing the potential in the country's existing fields, which are largely unaffected by Western sanctions over Ukraine. Oil production rose in January-September by 0.7 percent year-on-year, showing that Moscow has not curbed its output to prop up...

  • MOSCOW, Oct 2- Oil production in Russia increased by almost 0.9 percent month-on-month in September to 10.61 barrels per day largely because of increased output at joint ventures with foreign majors, Energy Ministry data showed on Thursday. The ministry does not provide a breakdown of the data for the projects, which include Sakhalin-1 of Rosneft, ExxonMobil,...

  • CALGARY, Alberta, Sept 26- Jim Prentice, the one-time federal minister and investment banker sworn in as premier of Alberta earlier this month, said on Friday the Canadian province must secure new oil-export pipelines to ensure the growth of its oil sands sector.