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Oil and Gas Oil and Gas Exploration

  • March 24- Energy firms in Canada cut the most rigs drilling for oil in a week in over two years as the snow melts for the spring, making it too muddy to operate, according to data from Baker Hughes Inc:. *Drillers cut 79 rigs during the week ended March 24, the most since they cut 96 rigs during the week ended Dec. 26, 2014. *That leaves 70 rigs still active in Canada versus just...

  • DENVER— Colorado regulators can put more weight on protecting public health and the environment when they draw up rules for oil and gas drilling, the state's second-highest court said Thursday, giving environmentalists and others a new tool to argue for stricter regulations. However, the ruling in a lawsuit filed by six young plaintiffs could face a review by...

  • LONDON, March 23- Britain has awarded 25 licences for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...

  • LONDON, March 23- Britain has awarded 25 licenses for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...

  • A file photo of an offshore ice-resistant oil-producing platform.

    Drilling the Arctic for oil is unjustified given the changing oil order, says Goldman Sachs' lead European commodities equity specialist.

  • LONDON, March 23- Britain has awarded 25 licences for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...

  • LONDON, March 23- Britain has awarded 25 licenses for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...

  • SAO PAULO, March 22- Petróleo Brasileiro SA on Wednesday raised a goal for asset divestitures and partnerships for 2017 and 2018 to $21 billion from $19.5 billion, a sign Brazil's state-controlled oil company plans to expand ventures with peers in segments from refining to oil exploration. In a presentation detailing fourth-quarter results, Petrobras...

  • The Eagle Ford crude oil tanker sails out of the NuStar Energy dock at the Port of Corpus Christi in Texas.

    Here's why oil prices will continue to fall, at least in the short-term, says Andy Lipow.

  • OSLO, March 20- Norwegian upstart Borr Drilling, founded last year by former executives of financially troubled Seadrill, has snapped up Transocean's fleet of shallow-water oil and gas exploration rigs in a $1.35 billion deal, it said on Monday. It marks Borr's biggest deal since it was set up by Tor Olav Troim and other executives who had left Seadrill, once the...

  • GEORGETOWN, Guyana— Guyana's government says it will move ahead with plans to drill for oil in a disputed border zone despite opposition from Venezuela's congress. The foreign ministry said Friday it won't surrender any sovereign rights after learning that the energy committee of the opposition-dominated Venezuelan congress approved a resolution this...

  • Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Months after a deal to curb production, oil looks flat and cash-hungry crude producers are struggling to manage the fallout.

  • Lawmakers who back the ban, which had drawn the ire of Norway, say the European Union needs a strategy for future developments in a region being transformed by climate change. Norway, which on Monday announced plans to nominate a record number of blocks for oil and gas exploration in the Barents Sea, says it only allows drilling in the Arctic away from the area that...

  • GEORGETOWN, Guyana— American oil giant Exxon Mobil Corp. has asked Guyana's government for a production license to let it start pumping oil from the seabed by late 2019, though company officials have said operations are likely to start in 2020.. Exxon Mobil said last year that exploratory wells off Guyana discovered a "world-class" reservoir that could hold up...

  • HOUSTON, March 10- Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. Reductions in offshore production costs mean that some projects may be able to compete with North American shale fields, executives said at an energy conference in Houston this week. The recovery in the industry has so far been focused on onshore shale output...

  • HOUSTON, March 10- Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. Reductions in offshore production costs mean that some projects may be able to compete with North American shale fields, executives said at an energy conference in Houston this week. The recovery in the industry has so far been focused on onshore shale output...

  • *Russia, Iraq say too early to discuss extending output cut. LONDON, March 7- Oil prices firmed on Tuesday but stayed in a tight range, with investors seeking a clearer direction from inventory data and comments from oil officials as rising U.S. shale output offset OPEC production cuts. Capping any upsurge has been an increase in U.S. shale oil drilling after WTI rose...

  • Those efficiencies have pushed break-even prices to below $40 per barrel, a significant gain for Argentina, which has struggled to attract capital since crude prices started to decline in 2014.. Argentina recently has been pushing again to lure energy investment into the country, particularly into its massive Vaca Muerta formation. In January, Argentina...

  • LONDON, March 6- U.S. oil drilling activity has surged but so far the impact on production has been limited because of the long delay in completing wells and reporting output. The number of rigs drilling for oil has almost doubled since hitting a cyclical low at the end of May and is up by more than 50 percent compared with a year ago, according to oilfield services...

  • LONDON, March 6- U.S. oil drilling activity has surged but so far the impact on production has been limited because of the long delay in completing wells and reporting output. The number of rigs drilling for oil has almost doubled since hitting a cyclical low at the end of May and is up by more than 50 percent compared with a year ago, according to oilfield services...