×

Oil and Gas Oil and Gas Exploration

  • 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...

  • 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...

  • 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...

  • CNBC PRO: Darren Woods

    Exxon Mobil CEO Darren Woods shares his views in an interview with CNBC's "Squawk Box."

  • Operations at U.S. Steel

    Cowen forecasts steel consumption by the oil industry will rise by 65 percent in 2017.

  • ALGIERS, Feb 26- Algeria's Sonatrach wants to start offshore oil drilling and has begun discussions with U.S. operators Exxon Mobil Corp and Anadarko as well as Italy's Eni, a source at the state energy company told Reuters on Sunday. "Seismic operations carried out by Sonatrach have shown an interesting potential in the areas including Bejaia and Oran," said the...

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

  • 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.

  • 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...