Libya's domestic disorder is undermining oil production and removing a source of high-quality oil blends for aging European refineries.» Read More
Crude oil futures tumbled, on signals that output from Libya may be starting to recover and concerns over debt in China.
Crude oil futures slipped in light volume, as traders booked profits after three days of gains ahead of Christmas.
*E&P spending to rise more than 7 pct in North America. The Big Oil companies-- Exxon Mobil Corp, Chevron Corp, Royal Dutch Shell Plc and Total SA and BP Plc-- though not targeted by activist investors are also under pressure to boost returns.
BRASILIA/ BEIJING, Nov 13- Brazil's state-run oil company Petrobras has struck a deal to sell its Peruvian oil and gas assets to PetroChina, China's top oil and gas firm, and its parent China National Petroleum Corp for $2.6 billion. "The three target blocks are all quality oil properties in Peru with achievable profit potential," PetroChina added.
NEW YORK, Nov 12- Fund manager Jonathan Ingram doesn't hew to the same rules that other stock pickers follow. He doesn't build intricate spreadsheets that model company value.
LONDON, Nov 12- Brazil is set to become a net oil exporter and top 10 producer from 2015 if it overcomes hurdles to developing its giant offshore discoveries, the West's energy agency said on Tuesday.
LONDON/ HOUSTON, Oct 31- Oil industry shareholders concerned about poor returns and costly projects urged executives from Big Oil this week to return cash to shareholders- and at least one of the world's top five petroleum companies fully acquiesced.
*PetroChina, CNOOC, Sinopec invest heavily to boost output. HONG KONG, Oct 29- China's biggest state-owned oil firms, sitting on ageing fields, are scrambling to ramp up crude oil and natural gas production to meet surging domestic demand through a slew of investments that also risk pushing up their costs.
Bulls face a trio of challenges: The Fed, earnings from some big names and delayed data due to the shutdown. Will they keep running or lie down?
Due out next week, the third-quarter results for the majors- from Exxon Mobil Corp to BP Plc to Total SA- will be hit by an especially tough quarter for their downstream arms, which refine oil and produce chemicals. "Rising capex will quickly undermine the positive arguments that can be made for the sector," Deutsche Bank analysts wrote.
*Total, Shell, CNOOC, China National Petroleum join winning bid. Despite government assurances that the discovery is huge and low risk, many major world oil companies that had shown strong interest in previous auctions, such as Exxon Mobil Corp, Chevron Corp and BP Plc, stayed away.
RIO DE JANEIRO, Oct 21- Brazilian state-run energy company Petrobras teamed up with European oil majors and Chinese rivals on Monday to buy the country's biggest-ever oil field with a lone bid at the minimum price, a disappointing outcome for a sale that was supposed to launch Brazil as a petroleum power.
RIO DE JANEIRO, Oct 21- Brazil sold production rights to develop the giant offshore Libra oil area to a consortium led by Brazilian state-run oil company Petroleo Brasileiro SA in an auction with a single bid on Monday. Petrobras, as the Brazilian company is known, took 40 percent of the field, 10 percent above the legal minimum.
RIO DE JANEIRO, Oct 21- Brazil geared up on Monday to sell production rights to its largest-ever oil discovery in a landmark auction that sparked widespread nationalist protests even though most of the world's premier energy companies opted to stay away.
RIO DE JANEIRO, Oct 16- Brazil's government sees the planned Monday sale of Libra, an oil discovery billed as the biggest offshore oilfield ever sold, as a crowning achievement of an energy plan designed to end poverty and help the country join the developed world.
Well over 60 percent of residential systems in top solar states like California and Arizona today are owned by investors or companies which lease systems to homeowners for a monthly fee.
RIO DE JANEIRO, Sept 19- Brazil's planned auction of its biggest-ever oil discovery attracted only a quarter of the interest expected by the government after many of the large, wealthy oil companies with experience in the region declined to sign up for the sale.
RIO DE JANEIRO, Sept 19- Brazil's planned auction of its biggest-ever oil discovery attracted only a quarter of the interest expected by the government after many of the large, deep-pocketed oil companies with experience in the region declined to sign up for the sale.
European shares closed lower on Monday as tensions over Syria and monetary policy continued to dominate the agenda.
According to the French oil and gas company, Total, the decision has nothing to do with tax avoidance but to be closer to the City of London where oil is traded. Stephane Pedrazzi has more from Paris.