×

Oil and Gas Oil and Gas Exploration

  • SINGAPORE, Aug 21- Oil dipped on Monday, weighed down by rising U.S. output although a 13 percent fall in U.S. crude inventories since March indicated a gradually tightening market. Brent crude futures, the international benchmark for oil prices, were at $52.64 per barrel at 0639 GMT, down 8 cents, or 0.2 percent, from their last close. West Texas Intermediate crude...

  • WASHINGTON, Aug 17- Virginia Governor Terry McAuliffe urged the Trump administration to exclude his state from a federal offshore oil and gas drilling plan, citing concerns about revenue sharing and environmental issues, in a letter that his office revealed on Thursday. In the letter, dated Aug. 11 and sent to Kelly Hammerle, national program manager of the U.S....

  • MEXICO CITY, Aug 9- Mexico's Pemex is looking for oil exploration projects in the United States, Brazil, Colombia and Argentina to diversify its portfolio after a long-waited energy reform, a top executive from the state-run company said on Wednesday.

  • PETROBRAS CEO PARENTE SAYS COST OF OIL EXPLORATION IN PRESALT IS $8 PER BARREL.

  • SEOUL, Aug 7- Oil prices held near nine-week highs on Monday, buoyed by robust U.S. jobs data last week and a slight fall in U.S. drilling, although rising output from OPEC capped gains. Global benchmark Brent crude futures were up 8 cents, or 0.15 percent, at $52.50 a barrel at 0059 GMT. Meanwhile, OPEC's crude oil exports in July rose to a record high of 26.11 million bpd,...

  • MADRID, Aug 2- Spain's Repsol said it had suspended oil drilling in a block off Vietnam, where the prospecting in South China Sea waters claimed by China had infuriated Beijing and brought Chinese pressure on Vietnam to stop. Tension has been growing between Vietnam and China over energy development in the waterway, where extensive Chinese claims are...

  • *Qatar's GIS slumps on huge profit miss. DUBAI, Aug 1- Saudi Arabian shares snapped a six-session losing streak on Tuesday while Qatar's market fell, hit by a slump in an oil drilling service provider after it barely broke even in the second quarter. Gulf International Services lost 8.0 percent after posting net profit of 700,000 Qatari riyals, according to...

  • July 28- Petroleo Brasileiro Sa Petrobras. *Brazil's oil company Petrobras announces procedures to divest from 7 oil exploration areas on shallow waters. *Petrobras says areas are located in the states of Ceara, Rio Grande do Norte, Sergipe, Rio de Janeiro and Sao Paulo.

  • BRAZIL'S OIL COMPANY PETROBRAS ANNOUNCES PROCEDURES TO DIVEST FROM 7 OIL EXPLORATION AREAS ON SHALOW WATERS.

  • Rig hands move equipment at a hydraulic fracturing site atop the Marcellus shale rock formation in Washington Township, Pennsylvania.

    U.S. shale oil drillers are trimming capital spending plans after oil prices languished below $50 throughout much of the second quarter.

  • LONDON, July 18- U.S. oil and gas exploration and production companies are drilling new wells faster than they can be fractured and hooked up to gathering systems, creating a growing backlog of drilled but uncompleted oil and gas wells. By June, the number of drilled but uncompleted oil and gas wells across the seven largest shale plays had topped 6,000, according...

  • LONDON, July 18- U.S. oil and gas exploration and production companies are drilling new wells faster than they can be fractured and hooked up to gathering systems, creating a growing backlog of drilled but uncompleted oil and gas wells. By June, the number of drilled but uncompleted oil and gas wells across the seven largest shale plays had topped 6,000, according...

  • *Kuwait says market on path to rebalancing. LONDON, July 17- Oil edged up to about $49 a barrel on Monday as fewer drilling rigs were added in the United States, helping ease concerns that surging shale supplies will undermine OPEC- led production cuts. Brent crude, the global benchmark, was up 5 cents at $48.96 a barrel by 1219 GMT.

  • LONDON, July 14- U.S. oil and gas exploration and production companies are paying more to hire drilling rigs as the number of rigs still idle after the slump declines. Drilling costs were up by 8 percent in June 2017 compared with their recent low in November 2016, according to preliminary data from the U.S. Bureau of Labor Statistics published on Thursday.

  • MEXICO CITY, July 12- Premier Oil's shares rocketed as much as 38 percent on Wednesday on news it discovered potentially more than 1 billion barrels of oil off the coast of Mexico, a major victory for Latin America's No. 2 economy since the historic opening of its energy sector. The news of the discovery, in the first shallow-water offshore exploration well drilled...

  • July 12- Premier Oil has discovered oil off the coast of Mexico at its Zama-1 exploration well in Block 7, it said on Wednesday, sending its shares rocketing as much as 38 percent higher. Zama-1 well is the first offshore exploration well drilled by the private sector in Mexico. The project is jointly owned with Talos Energy, which acts as operator and has a 35...

  • July 12- Premier Oil Plc said it had discovered oil off the coast of Mexico at its Zama-1 exploration well in Block 7.. Premier, which holds a 25 percent interest in the block, said estimates for the Zama-1 well were in excess of 1 billion barrels, which could extend into a neighbouring block. The project is jointly owned by Talos Energy, which acts as operator and has a...

  • ISTANBUL, July 11- The U.S. shale drilling boom is likely to ease next year as demand on the industry's service sector is unsustainable, Halliburton's business development head said on Tuesday. The number of rigs drilling for oil in the United States rose to 763 last week, the highest in more than two years, showing that despite oil trading below $50 a barrel, shale...

  • *Iran hopes to attract BP, Lukoil and Gazprom among others. ISTANBUL, July 10- Iran is readying its first round of oil and gas exploration tenders since the easing of economic sanctions, hoping to attract the likes of BP and Gazprom, an Iranian energy official said on Monday. France's Total last week became the first major to sign a post-sanctions development deal...

  • IRAN PREPARES TO ANNOUNCE FIRST OIL AND GAS EXPLORATION TENDERS SINCE EASING OF SANCTIONS- NIOC.