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Statoil ASA

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  • Oil majors seek to claw back costs from service firms Thursday, 22 Jan 2015 | 10:30 AM ET

    While keen to avoid accusations of ganging up to force terms on suppliers, they are exploring measures that are likely to put further pressure on services companies such as Schlumberger and Halliburton, which have already cut thousands of jobs as business shrinks. In 2000 s, when we became rich, we became less cost-efficient, "said Claudio Descalzi, chief...

  • STAVANGER, Norway, Jan 15- Norway's oil industry will shrink this year and its decline could gather momentum unless crude prices recover, the country's oil directorate said on Thursday. Close to a dozen new oil projects were expected to be approved in Norway 2014 and 2015, but just one went ahead last year and now only a handful are expected this year, including...

  • "If the oil price stays in the $50- $60 range, investments could fall further." Brent crude tumbled more than 50 percent since mid-2014 and trades around $47 per barrel, well below the $60 per barrels level around Christmas when the new forecasts were finalized. Statoil and Shell have already canceled or delayed big projects while others, like Lundin Petroleum, said...

  • OSLO, Jan 14- Norway's Statoil has handed back three out of its four Greenland offshore oil and gas exploration licenses, it said on Wednesday, in another sign of cost cutting by energy firms following a plunge in oil prices. Statoil has Arctic licenses from Greenland to Russia. Statoil's three licenses off the west coast of Greenland were handed back by the end of...

  • OSLO, Jan 14- Norway's Statoil has handed back three out of its four Greenland offshore oil and gas exploration licences, it said on Wednesday, in another sign of cost cutting by energy firms following a plunge in oil prices. Statoil has Arctic licences from Greenland to Russia. Statoil's three licences off the west coast of Greenland were handed back by the end of...

  • The Bakken Club, which Halliburton, Statoil, Weatherford and other companies joined for a $15,000 initiation fee and minimum monthly food spend of $750, was evicted from its downtown Williston locale on Dec. 21 for not paying rent, according to court filings. "The business model was working and it will continue to work," added Lundeen, who is also an investor in The...

  • *Shares in Nutreco fall 5 pct as Cargill drops takeover bid. Shares in Dutch animal feed company Nutreco bucked the trend, falling 5 percent after U.S. commodities company Cargill said it was dropping its takeover bid. Around Europe, Britain's FTSE 100 index was up 0.6 percent, Germany's DAX index up 0.3 percent and France's CAC 40 up 0.5 percent.

  • Europe shares rally, led up by rebound for oil stocks Thursday, 18 Dec 2014 | 6:53 AM ET

    LONDON, Dec 18- European stocks rose on Thursday, led higher by energy-related stocks as oil rose and by strength in financials after the U.S. At 1135 GMT, the FTSEurofirst 300 index of top European shares was up 1.9 percent at 1,341.86 points. Oil companies topped the index, with Norway's Seadrill up 8.7 percent and Statoil up 6.4 percent, as Brent crude jumped 3...

  • FORT MCMURRAY, Alberta, Dec 16- The boomtown in the heart of Canada's oil sands region is getting nervous. Fort McMurray, surrounded by the boreal forest of northern Canada, has long drawn thousands with jobs that paid six-figure salaries to a region that produces more crude than anywhere else in the Western Hemisphere. Suncor Energy Inc, Total SA and Statoil ASA...

  • HOUSTON, Dec 10- Big foreign oil producers in Venezuela are seeking to sell state-run PDVSA light crudes from countries like Nigeria and even the United States, aiming to better control the quality and cost of domestic blends and boost production from their Orinoco belt joint ventures, sources say. Instead, it began buying Saharan Blend crude produced in...

  • LONDON, Dec 9- European shares hit a two-week low on Tuesday, with a further slide in crude oil prices hitting energy stocks. Greek banks fell sharply, with National Bank of Greece down 8.8 percent and Alpha Bank dropping 7.9 percent. The STOXX Europe 600 Oil and Gas index was the biggest sectoral decliner, down 2.5 percent, after Brent oil slipped to a five-year low...

  • LONDON, Dec 9- European shares fell sharply on Tuesday, with a further slide in crude oil prices hitting energy stocks and British grocer Tesco plunging after another profit warning. The STOXX Europe 600 Oil and Gas index fell 2.4 percent, the biggest sectoral decliner, after Brent oil slipped to a five-year low below $66 a barrel following a drop of more than 4...

  • More than $150 bln of oil projects face the axe in 2015 Thursday, 4 Dec 2014 | 12:12 PM ET

    *A fifth of projects at risk with oil at $80/ barrel- Rystad. *Some North Sea, Arctic and Gulf of Mexico fields on hold. Now the outlook for onshore and offshore developments- from the Barents Sea to the Gulf or Mexico- looks as uncertain as the price of oil, which has plunged by 40 percent in the last five months to around $70 a barrel.

  • European shares near seven-year highs ahead of ECB Thursday, 4 Dec 2014 | 7:08 AM ET

    PARIS, Dec 4- European stocks rose on Thursday, with a benchmark index hovering near a seven-year high, helped by expectations the European Central Bank will embark on a sovereign bond-buying program in coming months to boost the economy. "The ECB will probably launch a quantitative easing program at some point," said Patrick Mange, head of emerging markets...

  • SINGAPORE, Dec 2- Brent crude slipped below $72 a barrel on Tuesday, giving up some of the gains seen on Monday when prices rallied for the first time in six sessions and closed up more than 3 percent. Brent crude dipped 64 cents to $71.90 a barrel by 0327 GMT. "Saudi Arabia and OPEC no longer have the mechanism to balance markets from the supply side," said Mark Keenan, head...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /10.30 AM ET Monday, 1 Dec 2014 | 10:43 AM ET

    Asia, Europe, U.S. factory activity slows despite price cuts. LONDON/ SYDNEY/ NEW YORK- Manufacturing growth across Asia, Europe and the U.S. slowed in November as heavy price cutting failed to revive demand, surveys shows, more evidence that a feeble global recovery may be grinding to a halt. LONDON- Oil prices hit five-year lows as slowing factory activity in China...

  • *No successors yet named for departing CEO, chairman. VIENNA, Dec 1- With its ambitious expansion plans in doubt and top management in flux, oil and gas group OMV is struggling to persuade investors that Austria's biggest company can master increasingly difficult markets. Chief Executive Gerhard Roiss is leaving nearly two years ahead of schedule in June 2015,...

  • LONDON, Dec 1- Oil and gas firm BG Group has cut millions of pounds off the pay package for its incoming chief executive Helge Lund, bowing to pressure from shareholders in the biggest such revolt over executive pay in recent years. Britain's Business Secretary threw his weight behind disgruntled investors last week, urging the new chief executive's "excessive"...

  • *Statoil spent heavily on exploration that hasn't worked. OSLO, Nov 30- After the failure of its risky exploration strategy this year, Norwegian oil firm Statoil is cutting costs as fast and deep as it can to preserve cash for dividends- and may be jeopardizing future production in doing so, industry insiders say. Statoil took a big gamble by committing major...

  • LONDON, Nov 28- European shares posted their second consecutive weekly gain after a late recovery on Friday, as heavy falls in energy stocks, hit by a slump in oil prices, were offset by gains in airlines and consumer companies. Oil companies such as Statoil and Galp Energia and explorer Premier Oil fell by between 5.8 percent and 13.4 percent, after Brent slipped...