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  • OSLO, May 22- Wage talks involving thousands of Norwegian offshore oil workers broke down late on Thursday, unions and employers said, raising the risk of a strike that could disrupt oil exploration and efforts to raise output from existing fields. The talks between the Norwegian Shipowners' Association and three labour unions affecting more than 9,000...

  • PARIS, May 20- French President Francois Hollande said he was worried about a lack of progress towards a United Nations climate deal in Paris in December and called on the financial sector to decarbonise its investment portfolios. Hollande said that only 37 of 196 U.N. member states had so far submitted plans to the United Nations outlining their actions to slow...

  • *ConocoPhillips CEO says more mega-mergers unlikely. Still, there is unlikely to be a wave of mega mergers like Royal Dutch Shell's buyout of BG Group for $70 billion, which Shell itself has said left it cash-strapped and only able to pursue much smaller deals. "There is less need for mega mergers because of unconventional resources which require a small amount of...

  • *Issues sell recommendations on BP and Statoil. May 18- Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand. The U.S. investment bank's equities team, in a note published on...

  • European shares dented by U.S. data, euro bounce Friday, 15 May 2015 | 11:18 AM ET

    *Too early to fight against bull market- Citi. LONDON, May 15- A resurgent euro in the wake of weak U.S. data hit European stocks on Friday, even as bond markets stabilised after a recent rollercoaster sell-off. Shares in oil-and-gas companies Technip and Statoil were down about 3 percent as oil prices fell below $66 per barrel.

  • UPDATE 1-BP names former UK MI6 spy chief as director Thursday, 14 May 2015 | 11:00 AM ET

    LONDON, May 14- BP has appointed Britain's former MI6 spy chief and veteran diplomat John Sawers as a non-executive board member in a development highlighting long running links between the British establishment and the oil major. Sawers was the head of Britain's MI6 secret intelligence service from 2009 to 2014. He had previously served as Britain's...

  • ABU DHABI/ SEOUL May 13- State-run Abu Dhabi National Oil Company has signed a 40- year deal with GS Energy, selling the South Korean firm a 3 percent stake in an onshore oil concession to develop the United Arab Emirates' biggest oilfields. GS Energy joins Japan's Inpex Corp and France's Total in winning contracts so far to develop the oilfields, which produce 1.6...

  • OSLO, May 12- Norwegian oil firm Statoil replaced several top executives including its chief financial officer on Tuesday, continuing a shake-up since its chief executive was poached by rival BG Group last October. Statoil appointed Hans Jacob Hegge as chief financial officer, moving Torgrim Reitan to head the firm's U.S. business, where the contract of the...

  • OSLO, May 12- Norwegian oil firm Statoil replaced its chief financial officer on Tuesday and appointed several new top managers, continuing a shake-up since its chief executive was poached by rival BG Group last October. Statoil has lost four board members, including its chairman, over the past several months, and some top managers, including from its mergers and...

  • Important to make our business efficient: Statoil CFO

    Statoil CFO, Torgrim Reitan, says oil and gas companies need to be prepared for a variety of outcomes both in terms of interest rates and commodity price volatility.

  • Rate hike will prompt rapid change: Statoil CFO   Monday, 11 May 2015 | 1:30 AM ET
    Rate hike will prompt rapid change: Statoil CFO

    Statoil CFO, Torgrim Reitan, notes that the market will face rapid changes in the wake of an interest rate rise, and expects capital will shift back into bonds from equities.

  • LONDON, May 8- BG Group said on Friday it was still happy with Shell's $70 billion takeover bid despite a recent upturn in oil prices that led the company to increase the profit outlook for its liquefied natural gas business. The recent oil price rise has improved BG's outlook for LNG prices and led the company to raise its LNG earnings forecast for 2015 to $1.3 -1.5...

  • SINGAPORE, May 6- Jorge Montepeque, inventor of the modern system of setting world oil prices, is leaving reporting agency Platts after three decades of tussles with oil traders and attention from regulators. Critics have drawn attention to its dominance, and its role in the fabric of oil trade was of interest to regulators in the United States and Europe when...

  • YANGON, May 3- Myanmar has awarded contracts to international oil majors Statoil and ConocoPhillips for oil and gas exploration in a deepwater offshore block, the official Kyemon Daily said on Sunday. The Myanmar newspaper said the two companies' regional subsidiaries- Singapore-registered Statoil Myanmar Private Ltd and ConocoPhillips Myanmar E&P Pte....

  • LONDON, May 1- The world's top oil companies can expect only limited solace from refining for the rest of the year, even as the often-troubled segment proved valuable in the face of sinking oil prices. Overcapacity in the sector previously made it the bane of integrated oil majors such as BP, Royal Dutch Shell, Exxon Mobil, Chevron, Total and Eni.

  • Europe shares end mixed amid euro strength Thursday, 30 Apr 2015 | 11:31 AM ET
    US Currency

    Europe closed mostly higher on Thursday as investors reacted to more earnings news as well as the Fed's latest rate decision.

  • OSLO, April 30- Oil major Statoil swung to a surprise first-quarter net loss on a writedown in the value of its U.S. shale business, but its operating figures beat forecasts and the firm pleased investors by maintaining its dividend. State-controlled Statoil, which operates in dozens of countries from Canada to Africa, said it had cut its price outlook for its U.S....

  • Norway's Statoil pushed into the red by oil prices Thursday, 30 Apr 2015 | 7:09 AM ET

    Oil major Statoil swung to a first quarter net loss on a writedown in the value of its U.S. shale business.

  • *Q1 profit down 56 pct to $3.2 bln, beats consensus of $2.4 bln. LONDON, April 30- Refining and trading cushioned a drop in Royal Dutch Shell's first quarter profits, which fell less than expected after the collapse in oil prices slashed earnings from oil and gas output. Europe's biggest oil company by market value also said it was still looking for acquisitions...

  • Shares in the Finnish firm fell 8.6 percent after it posted quarterly profits well below forecasts at its main telecom network equipment business, citing lower software sales, higher costs and challenging conditions in Europe and Latin America. Sector peer Alcatel Lucent dropped 8 percent while Ericsson was down 1.2 percent and the broader STOXX Europe 600...