Archives Mensuelles: septembre 2013

Norway’s innovators help oil industry move to harsher climes

A drillship that cuts through two metres of ice, radar that detects oil spills in Arctic darkness and a drill that burrows through rock like a mole are among Norwegian innovations helping the oil industry as it moves into harsher climes. Small companies in Norway, backed by tax subsidies, a home-grown oil major and an […]

Majors may bid in Sri Lanka oil

Oil majors Exxon Mobil Corp, Royal Dutch Shell Plc and France’s Total have shown interest in bidding for blocks offered in Sri Lanka’s current licensing round, the island nation’s upstream regulator said on September 26. Sri Lanka has tried to reinvigorate oil and gas exploration efforts since the end of a three-decade war with Tamil […]

Statoil in major oil find off Newfoundland coast

Statoil, the Norwegian oil major, has made its largest discovery outside of Norway with a big oil find in the Bay du Nord off the coast of Newfoundland. Tim Dodson, Statoil’s head of exploration, said it affirmed the company’s reputation for exploration success. “Year-to-date we are the company that’s found the most volumes this year,” […]

Libya’s Zawiya oil port exports first crude cargo in September

Libya’s Zawiya port exported its first crude cargo this month after flows were restored from oilfields that supply the terminal. The nation, which canceled deliveries from several other ports because of protests by guards, shipped a 700,000-barrel cargo from the terminal yesterday, Mansur Abdullah, the oil movement coordinator at the Zawiya refinery, said by phone […]

August 13 Oil market highlights

The OPEC Reference Basket averaged $107.52/b in August, representing an increase of $3.07 over the previous month. All Basket component values improved, except Ecuador’s Oriente. Prices were generally supported by tightness in the Brent market. The Basket’s year-to-date value stood at $105.32/b, a decline of $4.81 or 4.8 percent from the same period last year. […]

Asian groups dominate Brazil oil auction

The auction for one of Brazil’s biggest oil discoveries attracted little interest from western companies, with the list of bidders led instead by Chinese companies and other Asian state-owned oil groups. Many investor-owned companies such as Exxon, BG Group, BP and Chevron did not register to bid for Libra, considered the crown jewel of Brazil’s […]

Britain pushing to ease sanctions on BP gas field

Britain could be close to agreeing a deal to ease sanctions that have stopped gas production from the North Sea’s Rhum field, jointly owned by BP and the National Iranian Oil Co. Production from the field, which once supplied 5 percent of Britain’s gas output, has been suspended since 2010 as a result of international […]