Statoil ASA (NYSE:STO) received approval from ANP (Agência Nacional do Petróleo) for the purchase of a 25% equity in a concession in Espirito Santo basin in offshore Brazil. Recent... Read More
European countries consumed a total of 18.7 trillion cubic feet (tcf) of natural gas in 2013, of which 5.7 tcf came from Russia. The Energy Information Administration (EIA) has... Read More
OMV AG (ADR) (OTCMKTS:OMVKY) is expanding its asset base in the UK core area. OMV has recently reached an agreement with Hess Corp. (NYSE:HES) to acquire four licenses in... Read More
Saudi Arabia's Aramco has been researching for years ways to extract chemicals directly from crude oil, without having to refine it first. According to a recent press release, the... Read More
A recent spike in global Liquefied Natural Gas (LNG) demand has driven down the share of small nations in the supply of LNG. Hence, Indonesia is now the fourth-largest... Read More
The Norwegian Petroleum Directorate (NPD) recently released a summary of its resource accounts at the end of 2013 and revealed that the total original recoverable reserves in the Norwegian... Read More
Eni SpA (ADR) (NYSE:E) (BIT:ENI), the largest Italian oil and gas company, has recently renegotiated a gas supply agreement in order to cut its long-term gas purchase costs. This... Read More
Statoil ASA (NYSE:STO) was the first to initiate the project of joint seismic data acquisition in the Barents Sea on the Norwegian Continental Shelf. In December 2013, the project... Read More
Gas-to-Liquids (GTL) plants were all the rage some time ago with environmentalists supporting the use of cleaner burning fuels in lieu of gas. However, recent developments in this area... Read More
Compliance with the Dodd-Frank Act has created significant difficulties for commodity traders and greatly increased the compliance burden for trading companies. Transitioning to Dodd-Frank compliance is a lengthy and... Read More
Preliminary numbers for the output of the Norwegian Continental Shelf indicate that the production during the first month of the calendar year surpassed expectations by 2.87%. Total production of... Read More
The Energy Information Administration (EIA) recently released its short-term outlook for the month of February 2014 and has forecast that the global crude oil output will average 91.68 million... Read More
Statoil ASA (ADR) (NYSE:STO) operating income dropped 4% in 4Q2013, to NOK 43.9 billion while adjusted earnings dropped 12% YoY to NOK 42.3 billion during the same period. Company annual... Read More
China is the world’s second largest consumer of crude oil with oil consumption growing 4% in 2013. However, the country is able to cater to only 42% of this... Read More
The North Sea oil output for the month of November was down -0.7%YoY and was also 4.1% below forecasted levels. The total output for the month of November stood... Read More
The US shale revolution can eat in to the market shares of producing nations in the Organization of Petroleum Exporting Countries (OPEC). However, recently, Saudi Arabia leadership has proclaimed they... Read More
The US Commodity Futures Trading Commission (CFTC) has made another proposal regarding the speculative position limits on commodity derivatives which have energy firms on edge. The earlier proposal of... Read More
Kuwait has announced that it is planning to raise crude oil production capacity to 4 million barrels per day (mbpd) from its current level of 3 mbpd, an increase... Read More
Total global drilling for oil and gas (as measured by the rig count released by Baker Hughes) is said to have risen by 0.17 percent MoM (6 rigs) to... Read More
The U.S. Energy Information Administration (EIA) just released its short-term energy outlook for the month of November 2013 and has revealed that U.S. crude oil production has surpassed its... Read More
Statoil ASA (ADR) (NYSE:STO) has recently announced that it plans to drill twenty to twenty-five new exploration wells in the Norwegian continental shelf in 2014. Of the wells planned for... Read More
Statoil Petroleum has made another significant oil discovery in the Hyme field in the Norwegian Sea. Statoil ASA (NYSE:STO) is the operator of this field with the production license 348... Read More
