Eni Inks Contract With Statoil For Gas Price Cuts

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 is part of Eni’s long-term effort to achieve a competitive portfolio by cutting its procurement costs and renegotiating volume terms. Heads [...]

Read more...

Statoil Initiates Collaboration In The Barents Sea

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 was joined by 17 companies willing to contribute their seismic expertise in the project. Recently, 16 new companies have joined [...]

Read more...

Gas-to-Liquids Plants Suffer High Implementation Costs

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 have indicated that GTL plants may be less feasible than was earlier anticipated. Gas-to-Liquids plants improve energy availability Gas-to-Liquids plants convert natural [...]

Read more...

Dodd-Frank Trade Reporting Rules Haunt U.S. Energy Firms

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 tedious process which will require the companies to enact major changes to their reporting and accounting procedures.. SDRs differ in reporting [...]

Read more...

North Sea Oil Output Exceeds Expectations In January

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 the North Sea for the month of January 2014 summed to 19.5 million cubic meters (m3) according to the Norwegian [...]

Read more...

Statoil Earnings Down In Q4 2013

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 net operating income dropped 25% to NOK 155.5 billion in 2013 versus NOK 206.6 billion in the previous year. Table 1: [...]

Read more...

Saudi Arabia Does Not Consider U.S. Shale A Threat

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 do not consider the rapid expansion in oil and gas output that US has been experiencing as a result of [...]

Read more...

Energy Firms Concerned Over Dodd-Frank Position Limits

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 the CFTC was rejected by the federal courts in September 2012. Why CFTC is pushing position limits According to the Wall Street [...]

Read more...

Kuwait To Expand Oil Capacity By 33 Percent

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 of 33%. Kuwait wants to maintain its position as one of the largest exporters of crude oil and is currently [...]

Read more...

Statoil Plans Aggressive Exploration In Norway For 2014

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 2014, two-thirds will be Statoil operated, ensuring the execution of these drilling plans. Statoil to build upon prior success Statoil ASA (ADR) [...]

Read more...

Statoil Makes Another Oil Discovery In The North Sea

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 B and has discovered oil in the wildcat wells 6407/8-6 and 6407/8-6 A. Near-field exploration strategy of Statoil "The wells were drilled [...]

Read more...

Subscribe to our mailing list

* indicates required

Opt out of occasional 3rd party offers


0