×

Oil and Gas Oil and Gas Exploration

  • WASHINGTON, Oct 17- U.S. Senate Democrats vowed on Tuesday to fight a measure expected to be slipped into budget legislation that would open Alaska's Arctic National Wildlife Reserve to oil and gas drilling, saying it would destroy one of earth's remaining paradises. A plan passed by the Senate budget committee late last month contains a directive for the...

  • The International Tribunal for the Law of the Sea last month drew an ocean boundary that appeared to favour Ghana in a dispute with its neighbour Ivory Coast, ruling that Accra had not violated Ivorian rights in drilling for oil.

  • MUMBAI, Oct 13- Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters. Oil-to-retail giant Reliance, controlled by India's richest man Mukesh Ambani, suggested there were signs its costly gamble...

  • MUMBAI/ BENGALURU, Oct 13- Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters. Oil-to-retail giant Reliance, controlled by India's richest man Mukesh Ambani, suggested there were signs its...

  • SAO PAULO, Oct 11- Brazil plans to boost oil exploration and production to seize on its reserves before the world enters the "renewable era" and other technologies hurt demand for the fossil fuel, Deputy Energy Minister Paulo Pedrosa told Reuters on Wednesday. Pedrosa said the Organization of Petroleum Exporting Countries, which has cut output to reduce a global...

  • HOUSTON, Oct 6- Ecuador will offer oil exploration and production blocks in January under new contract terms that it expects will attract more interest and allow the OPEC- member country to compete with its neighbors for foreign investment, the oil minister said. "Ecuador needs to be able to compete now that Brazil and Colombia have changed their contract terms...

  • BUENOS AIRES, Oct 5- Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said on Thursday. Earlier this year Argentina hired Norway's Spectrum to do a seismic survey in cooperation with state-run oil firm YPF SA.

  • HOUSTON, Sept 29- Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are depressed. It could help the Organization of the Petroleum Exporting Countries, Russia...

  • MANILA, Sept 28- The Philippines said on Thursday it was pursuing a long-delayed oil and gas exploration project with Chinese state-owned entity CNOOC Ltd and a Canada- listed company in an area near disputed waters in the South China Sea. Energy Secretary Alfonso Cusi said the Philippine government was also looking for a "win-win solution" with other South...

  • RIO DE JANEIRO, Sept 27- Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning 10 blocks in the country's 14th round of bidding for oil exploration and production rights, helping the cash-strapped nation fetch a record 3.8 billion reais. That was Brazil's highest-ever such bid. The U.S. company prior to the auction was among the few oil...

  • Sept 26- France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made one of the largest discoveries of the last decade. Eco Atlantic Oil& Gas, a small Canadian exploration company which earlier this year listed on London's junior AIM market,...

  • Energy Secretary Rick Perry asked an oil industry advisory council on Monday to help find ways for oil drillers to exploit technology that captures carbon emissions from coal-fired power plants, by injecting the carbon dioxide into the ground to help drill for oil. "Integrating technology and deploying CCUS at scale still remains a commercial challenge,"...

  • Energy Secretary Rick Perry on Monday asked an oil industry advisory council to help find ways for oil drillers to exploit technology that captures carbon emissions from coal-fired power plants, by injecting the carbon dioxide into the ground to help drill for oil. "Integrating technology and deploying CCUS at scale still remains a commercial challenge,"...

  • LONDON, Sept 22- U.S. stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey. But a recovery in freight, coupled with a boom in oil and gas drilling, which relies heavily on diesel, and record exports to Latin America and other markets have steadily whittled away...

  • OSLO, Sept 20- Norway's ruling Conservative Party is willing to abstain from oil and gas exploration in a key Arctic region for another four years, in return for continued parliamentary support for its minority government, tabloid VG reported online on Wednesday. Since 2013, the government of the Conservatives and the populist Progress Party has relied on the...

  • Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    Surging production from U.S. shale fields is set to moderate next month, the Department of Energy's information arm forecast on Monday.

  • SAO PAULO, Sept 14- The Brazilian unit of Royal Dutch Shell PLC will invest $2 billion per year in the country through 2020, Flávio Rodrigues, the unit's director of government relations and regulatory affairs, said at an industry event on Thursday. The investment plan does not include potential bids for oil exploration areas, he said, which the government will...

  • KAMPALA, Sept 14- Uganda signed an oil exploration deal with Australia's Armour Energy Limited on Thursday, the first under a protracted competitive licensing round launched in 2015.. The production-sharing agreement covers Kanywataba block, a 344- square-kilometre area in the Albertine rift basin near the border with Democratic Republic of Congo,...

  • NEW YORK, Sept 12- Kynikos Associates LP founder James Chanos on Tuesday said he is betting against Continental Resources Inc and other oil and gas exploration and production companies. Speaking at the CNBC Institutional Investor Delivering Alpha Conference in New York, Chanos said Continental Resources' compensation incentives are structured to reward...

  • NEW YORK, Sept 12- Kynikos Associates LP founder James Chanos on Tuesday said he is shorting Continental Resources Inc and other oil and gas exploration and production companies.