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Oil and Gas Oil and Gas Exploration

  • ANCHORAGE, Alaska— President Donald Trump's plan to help balance the federal budget features a new attempt to open the coastal plain of Alaska's Arctic National Wildlife Refuge to petroleum drilling. The refuge covers 2,300 square miles, an area the size of West Virginia and Connecticut combined in Alaska's northeast corner. Congress in 1980 expanded it and...

  • Chevron Jack/St. Malo platform in the Gulf of Mexico.

    The new White House budget proposes ending an oil and gas revenue-sharing program with the four states.

  • ATHENS, May 19- Greece's energy minister held talks on Friday with representatives of U.S. oil major ExxonMobil and France's Total about gas exploration opportunities off Greek shores, the energy ministry said. Athens previously tendered blocks off Crete, its southernmost island north of Egypt and Libya and west of Cyprus, in 2013 but did not receive bids.

  • MANILA, May 19- Philippine President Rodrigo Duterte said on Friday Chinese counterpart China Xi Jinping had warned him there would be war if Manila tried to enforce an arbitration ruling and drill for oil in a disputed part of the South China Sea. In remarks that could infuriate China, Duterte hit back at domestic critics who said he has gone soft on Beijing by...

  • Conoco Phillips Bayu Undan Timor in Sea, Australia

    Jefferies raises its rating on ConocoPhillips to buy from hold due to the likelihood of increasing share buybacks and dividends.

  • SAO PAULO, May 12- Odebrecht Ôleo& Gás SA, the offshore oil drilling firm owned by Brazil's Odebrecht SA, has obtained support from more than 60 percent of its creditors for a restructuring of about $5 billion in debt, two sources with knowledge of the matter said on Friday. OOG is among Odebrecht SA subsidiaries struggling with a widespread slowdown in Latin...

  • PARIS, May 11- Engie said it had received a binding offer from Neptune Energy for its 70 percent stake in its oil and gas exploration unit based on a value of 4.7 billion euros for 100 percent of the unit. Engie said the offer for its Exploration& Production International arm included 1.1 billion euros in decommissioning liabilities that will be deconsolidated...

  • PARIS, May 11- Engie is in advanced talks with Neptune Oil& Gas about the sale of its oil and gas exploration and production unit and a deal is imminent, a source familiar with the situation told Reuters on Thursday. The report added that Engie plans to announce it will start exclusive talks with Neptune for the sale of its 70 percent stake in Engie E&P for about 3.3...

  • HOUSTON, May 10- The U.S. Department of Interior on Wednesday said it would begin reviewing permit applications from six companies seeking to conduct seismic surveys in the Atlantic Ocean, marking a sharp reversal from the previous administrations stance on oil and gas exploration activities off the U.S. East Coast. The move comes roughly one week after...

  • SAO PAULO, May 10- Petróleo Brasileiro SA proposed including a Texas refinery and a stake in an African oil exploration venture into a list of assets that Brazil's state-controlled oil company has put up for sale by the end of next year. It may also add the Pasadena refinery, whose purchase a decade ago has been the subject of criminal investigations.

  • CLEVELAND, May 3- Ohio legislators took a step toward allowing fracking in state parks, adding a provision in a pending budget that would strip the governor of the ability to control the issuing of licenses for the oil and gas drilling practice that has raised environmental concerns. The provision, added on Tuesday by the Republican-controlled House, would...

  • BOGOTA, May 3- Colombian state oil company Ecopetrol said on Wednesday it has discovered gas at an exploratory well it shares with U.S.-based Anadarko Petroleum Corp in deep waters in the Caribbean Sea, creating the possibility of developing a production cluster. President Juan Manuel Santos said it was the biggest gas find in Colombia in 28 years and will...

  • Oil prices are low and companies are focusing on reducing debt but ConocoPhillips is still lagging behind large-cap competitors, says Raymond James' energy analyst Pavel Molchanov.

  • LONDON, May 2- The UK division of German logistics and freight company Bertling and five people have been charged with conspiracy to pay or accept bribes in a UK Serious Fraud Office inquiry into a North Sea oil exploration project. The SFO alleged on Tuesday that Robert McNally, Georgina Ayres, Giuseppe Morreale, Stephen Emler and F.H. Bertling Ltd conspired...

  • LONDON, May 2- The UK Serious Fraud Office said on Tuesday it had charged logistics company F.H. Bertling Ltd and four people with conspiracy to commit or accept bribery in an investigation into a North Sea oil exploration project known as Jasmine. The SFO alleged that Robert McNally, Georgina Ayres, Giuseppe Morreale, Stephen Emler and F.H. Bertling, the UK- based...

  • **Japan Petroleum Exploration Co. Ltd. said it started steam injection into the oil sands layer on Friday for start-up of its Hangingstone oil sands expansion project in Alberta, Canada. **Bitumen production is expected to start around the middle of the year as scheduled, and output is expected to gradually increase and reach 20,000 barrels per day by mid-2018-...

  • WASHINGTON, May 1- The U.S. Supreme Court on Monday tossed out a lower court's ruling that had allowed an American oil drilling company to sue Venezuela over the seizure of 11 drilling rigs in 2010 but allowed the business another chance to press its claims. Siding with Venezuela, the justices ruled 8-0 that a lower court that had given the go-ahead for the suit must...

  • *Oil supported by OPEC- led output cuts, possible extension. LONDON, May 1- Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC- led production cuts aimed at clearing a supply glut. Crude output in the United States has hit its highest since August 2015, government data shows.

  • *Oil supported by OPEC- led output cuts, possible extension. LONDON, May 1- Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC- led production cuts aimed at clearing a supply glut. Crude output in the United States has hit its highest since August 2015, government data shows.

  • *Oil supported by OPEC- led output cuts, possible extension. LONDON, May 1- Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC- led production cuts aimed at clearing a supply glut. Crude output in the United States has hit its highest since August 2015, government data shows.