Norway oil investment dip on the horizon, new survey says
Oil and gas companies are predicting an 18% drop in investments in Norway next year, a bigger decline than factored in by the central bank in June and adding to pressure on interest rates.
Mexican driller lured to capital markets by energy opening
One of Mexico’s largest oil service providers plans to sell stocks or bonds for the first time in anticipation of new projects as the country opens the energy industry to private capital. Grupo Diavaz -- a closely held company that works with Petroleos Mexicanos, Petroleo Brasileiro SA and China Petroleum & Chemical Corp. in Mexican fields -- will hold talks with stock exchange officials in the coming weeks with a view of debuting in capital markets next year, Chairman Luis Vazquez Senties said in an interview.
Rosneft’s Russian crude output drops to lowest since TNK-BP Deal
OAO Rosneft’s Russian oil output has declined to the lowest level since the acquisition of TNK-BP made it the world’s largest traded oil producer last year.
A mile below Paris drillers hit hot pools to warm houses
In the midst of a suburban sprawl halfway between the Eiffel Tower and Paris’s busy Orly airport, a drilling crew works night and day burrowing deep into the Earth’s crust in search of underground heat.
Putin’s willingness to sell assets to China to aid CNPC
China’s biggest energy companies stand to benefit from Russian President Vladimir Putin’s offer yesterday to sell a stake in the country’s second-biggest oil project to “Chinese friends.”
Brent oil extends two-month slump amid OPEC expansion
Brent crude dropped, extending a two-month slide, as OPEC’s production was seen increasing and manufacturing gauges in Europe and China missed estimates. West Texas Intermediate fell in New York.
Nigeria activist who escaped the gallows probes oil accounts
Two decades ago Ledum Mitee escaped being hanged while campaigning against corruption in Nigeria’s oil industry. Today, as head of a government transparency initiative, he says little has changed.
Dry land shortage sparks floating solar plans in Japan
With real estate in short supply, developers of solar power projects in Japan are beginning to look beyond the island nation’s land surfaces.
Afren probes $433million on accounts after suspending directors
Afren, the UK explorer focused on Nigeria, has expanded its investigation into unauthorized payments and is reviewing about $433million on its half-year balance sheet.
Sludge treatment at UK facility turns waste into ‘black gold’
When the world’s largest working advanced digestion plant opened last month, it showed the power- hungry process of treating waste in the $360billion water industry can be self-sufficient in terms of energy use.
Repsol said to drop Talisman takeover plan, weighs asset buys
Repsol SA has dropped a plan to buy all of Talisman Energy Inc., and is instead weighing the purchase of some of the Canadian company’s shale assets, people with knowledge of the matter said.
Gulf Keystone sends staff back to Iraq
Gulf Keystone Petroleum Ltd. is sending staff back to Iraqi Kurdistan after US airstrikes eased the threat from Islamic State militants that prompted a mass evacuation of expatriate oil workers three weeks ago.
PetroChina meets forecasts with profit increase
PetroChina the nation’s biggest oil and gas producer, met forecasts with a 4% increase in first-half profit after it sold natural gas at higher prices.
Myanmar kicks off solar drive with $480million ACO deal
Myanmar will expand its sources of clean energy through an agreement with ACO Investment Group, a U.S.-based private-equity fund focusing on Asian emerging markets, to develop two solar-energy plants.
Oil fund under scrutiny as Norway plans 2015 spending
As Norway decides how to spend its oil wealth in next year’s budget, parties key to the government’s ability to stay in power are questioning its priorities.
Shell targets Nigerian assets in $15billion sell-off plan
Royal Dutch Shell, Europe’s largest oil company, is advancing plans to sell four fields in Nigeria to meet a $15billion asset-sales plan.
Norway open to Rosneft expansion as offshore spending slides
Norway is open to OAO Rosneft deepening its involvement in the Nordic country as western Europe’s largest oil and natural gas producer seeks to counter a slowdown in investments and output.
GE plans $2billion Africa spending with workforce set to double
General Electric will invest about $2billion in Africa by 2018 and double the local workforce in what chief executive Jeffrey Immelt calls one of the world’s most-promising markets.
Sinopec shortlists 37 companies for retail unit sale
China Petroleum & Chemical Corporation, Asia’s biggest refiner, has shortlisted 37 companies as potential buyers of a stake in its retail unit, Chairman Fu Chengyu said at a press briefing in Hong Kong.
Brent extends drop as Middle East oil supply stays safe
Brent fell for a second day amid speculation that turmoil across the Middle East will not threaten crude supplies.
Occidental talks to Mubadala over $3billion gas stake
Occidental Petroleum Corp. is in talks to sell a $3billion stake in a gas field to Abu Dhabi- owned Mubadala Development Co., Petroleum Intelligence Weekly reported, without saying where it got the information.
Kurds said to plan quadrupled oil exports on pump breakthrough
Iraq’s Kurdish administration may increase oil exports via Turkey fourfold to half a million barrels a day in months, according to an official with knowledge of the situation, citing improvements in pumping capacity.
Billionaire Fredriksen’s NADL hands Rosneft $1billion stake
North Atlantic Drilling Ltd., the rig-owner controlled by billionaire John Fredriksen, will hand OAO Rosneft a stake valued at more than $1billion in return for land rigs and cash, deepening ties amid sanctions on Russia.
BP dodges $256billion whistle-blower case
BP won’t face a $256billion lawsuit brought by a whistle-blower who claimed the company’s Atlantis oil production platform in the Gulf of Mexico was unsafe.
BP uses innovative tactic to tackle obesity
o fight rising medical costs, oil company BP Plc last year offered Cory Slagle -- a 260-pound former football lineman -- an unusual way to trim $1,200 from his annual insurance bill. One option was to wear a fitness-tracking bracelet from Fitbit Inc. to earn points toward cheaper health insurance. With the gadget, the 51-year-old walked more than 1 million steps over several months, wirelessly logging the activity on the device. Twelve months later, Slagle has added to his new exercise regimen by trading burgers for salads and soda for water, dropping 70 pounds (31.8 kilograms) and 10 pant sizes in the process.