Israeli stocks jumped the most since December after energy companies raised estimates for reserves at the Leviathan gas field by 15%, even as the conflict between Israel and militants in the Gaza Strip intensified.
Aker Solutions’ board of directors has approved a bid to split the company in two.
Oil and gas consultancy ADIL has won contracts worth over £3million in the first six months of the year across its Aberdeen and London operations. The firm reported a 50% rise in revenue to £31million in 2013, and said it was on track to meet “reasonable” growth targets this year.
New U.S. pipelines and a revival in Libyan supply are increasing the likelihood that oil prices will slump through year-end after climbing in the first six months.
OAO Gazprom, Russia’s biggest company, was stuck with record export duty payments in May as Ukraine imported more gas without paying for it.
Ezra Holdings Ltd. plans to sell marine assets to Oslo-listed affiliate EOC Ltd., people familiar with the matter said.
Profits have soared at oil services company Sparrows, according to the firm’s latest accounts.
North Sea oil and gas companies made the lowest profits in nearly five years during the first three months of this year, according to new figures from the UK Government.
Private equity giant KKR has bought a majority stake of the Aberdeen offshore container manufacturer OEG Offshore Group in a £100million deal.
Norwegian drilling giant Seadrill has cancelled a five-year $1billion maturity convertible bond issue due to an overnight fall in its share price.
Brent crude fell below $110 a barrel, reversing a rally that started when Islamist militants seized the northern Iraqi city of Mosul almost a month ago. West Texas Intermediate also traded near a one-month low.
A.P. Moeller-Maersk A/S said its oil and gas business will take a $1.7billion writedown on its oil assets in Brazil and no longer push for an expansion in the South American country.
A weakened Norwegian market has forced Aker Solutions to transfer hundreds of staff members and help dozens more find new employment.
Brent traded near the lowest price in more than three weeks as Libya prepares to increase exports and amid speculation that Iraq’s crude supplies remain safe from violence. West Texas Intermediate was steady in New York.
The US overtook Saudi Arabia and Russia to become the world’s biggest producer of oil as extraction of energy from shale rock strengthens the nation’s economy, Bank of America Corp. said. US production of crude oil, along with liquids separated from natural gas, surpassed all other countries in the first six months, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. A Commerce Department decision to allow the overseas shipment of processed light oil called condensate has fanned speculation the nation may ease its four-decade ban on most crude exports.
West Texas Intermediate and Brent headed for a second weekly drop amid speculation that Iraq’s crude production will remain unaffected by violence and as Libya prepares to resume exports from two terminals.
West Texas Intermediate fell for a sixth day, the longest losing streak since May 2012, while Brent slid amid speculation that crude supplies will increase after Libyan rebels agreed to hand over two export terminals.
Oil-rig contractor Shelf Drilling has said it will to pull its plan for a £300million float on the London Stock Exchange, citing insufficient interest to justify proceeding with the sale.
Energy giant Total is looking to sell its outstanding shares in its liquefied petroleum gas (LPG) distributor to Antargaz.
Brent crude fell to its lowest intraday level in almost three weeks as rebels in eastern Libya said two oil ports, including the country’s biggest, are free to reopen.
New Zealand and Australia-focused explorer Mosman Oil and Gas is looking to grow its regional portfolio via a planned acquisition of Trident Energy Limited.
Exploration group Tullow Oil is looking to close the first half of the year on positive figures - despite a forecast $415million write-off from poor drill results.
Iraq’s semi-autonomous Kurds plan a referendum for independence and will keep troops in the nearby oil hub of Kirkuk until people there can vote on whether to join the Kurdish enclave, a regional government spokesman said.
Helius Energy, the renewable energy firm behind the CoRDe biomass plant in Moray, has recorded a 29% drop in shares as it announced it was seeking additional funding yo meet its working capital requirements.
Aberdeen-based oil and gas services company First Integrated Solutions is celebrating £7million of inward-investment in the last six months in a client open day this week.