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Oil and Gas Oil and Gas Exploration

  • TEL AVIV, Feb 23- Developers of the Leviathan natural gas field said on Thursday they had approved a $3.75 billion final investment decision on the first phase of the largest energy project in Israel's history. Texas- based Noble Energy owns 39.7 percent of Leviathan, while Delek Drilling and Avner Oil Exploration, subsidiaries of Israel's Delek Group, each hold...

  • However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at Mitsubishi Corp. in Tokyo. "It's a battle between how quick OPEC can cut without shale catching up," Nunan said, referring to U.S. drilling in shale formations that has shown an upsurge after prices rose this year.

  • HOUSTON _ Oasis Petroleum Inc. on Wednesday reported a fourth-quarter loss of $54.7 million, after reporting a profit in the same period a year earlier. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share. Nine analysts surveyed by Zacks expected $202.3 million.

  • NEW DELHI, Feb 22- India plans to auction some oil exploration blocks by June and will allow bidders to carve out areas where they want to drill in order to attract greater interest, a government official told Reuters on Wednesday. India overhauled its exploration licensing last year with a shift to a revenue sharing model, while also allowing pricing and...

  • Singapore's United Overseas Bank (UOB) reported on Friday its earnings for the fourth quarter slipped 6.2 percent on-year to S$739 million.

  • Investment in oil exploration unlikely to pick up: DBS CEO

    Piyush Gupta, CEO of DBS Group, talks about the impact the oil and gas sector will have on bad debt levels at the bank.

  • OKLAHOMA CITY _ Devon Energy Corp. on Tuesday reported fourth-quarter net income of $331 million, after reporting a loss in the same period a year earlier. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share. Devon Energy shares have risen almost 1 percent since the beginning of the year, while the...

  • *OPEC and Russian oil supply cuts lend support. LONDON, Feb 6- Oil steadied near $57 barrel on Monday as OPEC supply cuts and rising tensions between the United States and Iran were countered by ample inventories and signs that higher prices will revive U.S. output. Despite the OPEC cuts, U.S. crude inventories rose by more than expected last week.

  • *China import demand growth to slow- BMI Research. SINGAPORE, Feb 6- Oil prices edged up on Monday on fears that new U.S. sanctions against Iran could be extended to affect crude supplies, but markets were capped by further signs of growing U.S. production. Tensions between Tehran and Washington have risen since a recent Iranian ballistic missile test which...

  • WASHINGTON, Feb 3- The U.S. House of Representatives on Friday repealed a rule put forth in the final days of the Obama administration that limited emissions of the potent greenhouse gas methane from oil and gas drilling on federal lands, in the latest move by Republican lawmakers to overturn regulation on the energy industry. The Senate is expected to vote next...

  • Oil and gas extraction jobs increased by 100 to 177,400 in January, while support services jobs increased by 600 to 195,200 in December, its second increase in a row, according to U.S. Bureau of Labor Statistics data. Those cuts came during the biggest price rout in a generation, in which U.S. crude futures collapsed from over $107 a barrel in June 2014 to around $26 in...

  • *Latest sale brings total divestment to $8.7 bln since April 2015. SINGAPORE/ DUBAI, Jan 31- Royal Dutch Shell said on Tuesday it would sell its stake in Thailand's Bongkot gas field to Kuwait Foreign Petroleum Exploration Company for $900 million. The move is the latest stage of the Anglo-Dutch company's push to reduce debt after buying smaller rival BG Group for...

  • Global benchmark Brent crude oil prices settled down 29 cents at $55.23 a barrel, while U.S. crude futures settled down 54 cents at $52.63. First indications of compliance to that deal show members have cut production by 900,000 barrels per day in January, according to Petro-Logistics, which tracks OPEC supply. Reuters' most recent survey indicated that OPEC...

  • *2018 price rise above $60/ bl requires deeper cuts- analysts. Global benchmark Brent crude oil prices were down 39 cents at $55.13 a barrel at 11:16 EST, while U.S. crude futures traded down 53 cents at $52.64. First indications of compliance to that deal show members have cut production by 900,000 barrels per day in January, according to Petro-Logistics, a company...

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 24 cents at $55.28 a barrel at 1438 GMT, while U.S. crude futures traded down 25 cents at $52.92. "Oil prices are down because of the rise in the U.S. rig count," said Tamas Varga, analyst at PVM Oil Associates in London.

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 5 cents at $55.47 a barrel at 1226 GMT, while U.S. crude futures traded up 9 cents at $53.26. First indications of compliance to that deal show that members have cut production by 900,000 barrels per day in January, according to Petro-Logistics, a company that tracks...

  • *OPEC cut 900,000 bpd in January- Petro-Logistics. Global benchmark Brent crude oil prices were down 25 cents at $55.26 a barrel at 1010 GMT, while U.S. crude futures slipped 8 cents to $53.09. He also added that Petro-Logistics' report that OPEC members had cut production by 900,000 barrels per day in January was "not very encouraging" because it implied that only 75...

  • BEIRUT, Jan 26- Lebanon relaunched its first oil and gas exploration and production licensing round after a three-year delay, its energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled by national political paralysis. Lebanon has opened five offshore blocks for bidding in a first licensing round, Minister of...

  • Keppel closing 3 yards in Singapore

    Conrad Werner, ‎Macquarie Group, weighs in on the performance of the Singapore offshore and marine company.

  • BEIRUT, Jan 26- Lebanon relaunched its first oil and gas exploration and production licensing round after a three-year delay, its energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled by national political paralysis. Lebanon has opened five offshore blocks for bidding in a first licensing round, Minister of...