PKN Orlen SA, Poland’s biggest oil company, is expanding its Canadian and Polish operations through two $392 million acquisitions, taking advantage of plunging crude prices.
Repsol and privately held Armstrong Oil & Gas have reached an agreement to strategically re-align their interests in their Alaska North Slope exploration and development venture.
Oil prices won’t rebound to $100/bbl before 2020 to 2025, when U.S. shale production will gradually start to decline, according to a former head of the International Energy Agency.
Iran will need to import about 20% more gasoline to meet pent-up demand in the first year after economic sanctions are lifted, creating a market for some $1 billion in fuel sales from abroad, according to traders and analysts.
Oil slid to a one-week low in New York as the IEA’s prediction that the global surplus will persist next year countered OPEC’s view of a recovering market.
Oil production from Iraq, the world’s fastest source of supply growth last quarter, will remain similar to current levels next year as the slump in crude prices and the cost of fighting Islamic State militants hamper the government’s ability to invest in new capacity, the International Energy Agency said.
The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng.
Addressing a growing industry demand for transformational improvements in capital project execution, Emerson has launched Project Certainty, an innovative technology and engineering-based approach for improved capital efficiency and more reliable project schedules.
NEW YORK (Bloomberg) -- Oil dropped the most in three weeks after OPEC reported that its members pumped the most crude in three years.
INEOS has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group.
Oil demand will grow and non-OPEC supply is due to contract, OPEC Secretary-General Abdalla Salem El-Badri said, hoping to see a more balanced market in 2016.
North Energy has signed a sale and purchase agreement with Pure E&P Norway, whereby North Energy sells its 10% interest in PL 708 to Pure.
Statoil, in conjunction with partners Petoro and OMV, has started the world's first subsea wet gas compression system at Gullfaks field in the North Sea.
Delek Group Ltd., a partner in Israel’s two largest offshore natural gas fields, said a unit has acquired 20% of Canada’s Ithaca Energy Inc. for about $66 million as part of its strategy to transform itself into a global energy company.
Global oil prices have bottomed out, with signs of a recovery seen in 2016, Qatar’s Energy Minister Mohammed Al Sada said.
The House of Representatives has voted in favor of lifting 40-year-old restrictions on exporting U.S crude oil.
Attractive sweet-spot margins help ease pain of low prices
The high-growth business models of the U.S. Independents are being tested by low oil prices and tougher access to capital.