Oil & Gas Sector News

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  • Norway awarded 56 offshore exploration licences on Tuesday, matching last year's record number, as it seeks to boost output from acreage located near existing oil and gas fields. The biggest winner was Statoil (LSE: 0M2Z.L - news) with 29 licences, including 16 operatorships, while Aker BP came in second with 21 licences, …

  • Norway awards 56 oil and gas licences in mature areas Reuters - UK Focus - 2 hours 20 minutes ago

    Norway's oil ministry awarded 56 offshore exploration licences on Tuesday in a bid to lift output from acreage located near existing oil and gas fields. A total of 29 companies won stakes in the annual ...

  • BP plc (LON: BP) could have lower risk and more upside than Cairn Energy plc (LON: CNE).

  • Publication of a Prospectus Business Wire - 8 hours ago

    January 13, 2017 – Technip S.A. (Euronext: TEC, “Technip”) and FMC Technologies, Inc. (NYSE: FTI, “FMC Technologies”) announce that TechnipFMC plc (“TechnipFMC”) secured today visa no. 2017-015 from the French stock market regulator (Autorité des Marchés Financiers, “AMF”) for its prospectus relating to the listing …

  • Stocks retreat as pound tanks on Brexit fear

    Reports British Prime Minister Theresa May is aiming for a "hard Brexit" cause the pound to tumble

  • Gasoline refining margins in northwest Europe edged lower on Monday amid thin trading due to weak demand in the ARA region and public holiday in the United States. ** Exports from the region significantly ...

  • Sterling tanks on Brexit fear AFP - Mon, Jan 16, 2017 12:12 GMT
    Stocks retreat as pound tanks on Brexit fear

    Reports British Prime Minister Theresa May is aiming for a "hard Brexit" cause the pound to tumble

  • Pound tanks on Brexit fear as stocks retreat AFP - Mon, Jan 16, 2017 11:19 GMT
    Stocks retreat as pound tanks on Brexit fear

    Reports British Prime Minister Theresa May is aiming for a "hard Brexit" cause the pound to tumble

  • Two 5% dividend yields you’d be crazy to pass up Fool.co.uk - Sun, Jan 15, 2017 08:20 GMT

    If you're looking for income you can't go wrong with these two blue chips.

  • Trudeau says Canada's oil sands must be phased out AFP - Sat, Jan 14, 2017 03:17 GMT
    Trudeau says Canada's oil sands must be phased out

    Prime Minister Justin Trudeau is committed to reducing greenhouse gas emissions to meet requirements of the Paris Agreement on climate change, which Canada has ratified

  • BUZZ-Shell issues tariff to move SPR crude on Zydeco pipeline Reuters - UK Focus - Fri, Jan 13, 2017 16:20 GMT

    Shell on Friday filed a tariff to move oil from two Strategic Petroleum Reserve sites on its Zydeco Pipeline after the Department of Energy issued a sales notice for the oil earlier this week, according ...

  • With Big Oil stocks riding high, is it time to take profits? Fool.co.uk - Fri, Jan 13, 2017 16:06 GMT

    Should you buy, sell or hold BP plc (LON:BP) and Royal Dutch Shell plc (LON:RDSB)?

  • 2 unloved stocks with the potential to rise 100% in 2017 Fool.co.uk - Fri, Jan 13, 2017 11:28 GMT

    The conditions are right for these two small-caps to double in 2017.

  • North Sea Crude-Forties diffs edge off three-week lows Reuters - UK Focus - Thu, Jan 12, 2017 17:40 GMT

    North Sea crude differentials rose on Thursday, led by Forties, which recovered from this week's three-week lows after a flurry of stronger bids. * Ekofisk diffs edged higher but remained in negative territory. ...

  • Shell restarting hydrogen plant, isomax unit at Ontario refinery - source Reuters - UK Focus - Thu, Jan 12, 2017 15:17 GMT

    Royal Dutch Shell is restarting the hydrogen plant and a 6,700 barrel-per-day isomax unit Thursday at its 75,000 bpd refinery in Sarnia, Ontario, after an unexpected shutdown earlier in the week, according ...

  • Do good results and rising oil prices mean shares can double again in 2017 for Premier Oil plc (LON: PMO) and Tullow Oil plc (LON: TLW)?

  • Shell oil workers in Gabon begin "unlimited" strike on Thursday Reuters - UK Focus - Thu, Jan 12, 2017 11:59 GMT

    Royal Dutch Shell (LSE: 0LN9.L - news) workers in Gabon began an "unlimited" strike on Thursday at all the company's operations in the Central African OPEC member country, the workers' union wrote in a letter to employees. Shell is in advanced talks to sell its Gabon assets, which one source estimated could be worth …

  • Shell oil workers in Gabon begin "unlimited" strike on Thursday Reuters - UK Focus - Thu, Jan 12, 2017 10:19 GMT

    Royal Dutch Shell workers in Gabon on Thursday began an "unlimited" strike on all operations in the Central African OPEC member, the oil workers union wrote in a letter to employees. There was ...

  • Norway raises oil and gas production forecasts -regulator Reuters - UK Focus - Thu, Jan 12, 2017 09:46 GMT

    Oil and gas output from Western Europe's top producer Norway will be higher than previously expected in 2017 and 2018 following above-forecast output last year, the Norwegian Petroleum Directorate (NPD) predicted on Thursday. Oil production for 2017 is now expected to hit 93.9 million cubic metres, corresponding to 1.62 …

  • Premier Oil expects weak pound to help bottom line Reuters - UK Focus - Thu, Jan 12, 2017 09:33 GMT

    Premier Oil (LSE: PMO.L - news) expects to continue reaping benefits from weak sterling this year, it said on Thursday, as the depreciating currency has brought down the cost of investments in Britain at a time when low oil prices have squeezed profits. The oil company said 2016 operating costs were 11 percent below expectations, …

  • Norway raises oil and gas production forecasts -regulator Reuters - UK Focus - Thu, Jan 12, 2017 09:10 GMT

    Norway's oil and gas output will be higher than previously expected in 2017 and 2018 following above-forecast output last year, the Norwegian Petroleum Directorate predicted on Thursday. At the same time ...

  • Premier Oil sees 2016 revenue slip 10 pct despite record production Reuters - UK Focus - Thu, Jan 12, 2017 07:22 GMT

    North Sea-focused oil producer Premier Oil said full-year revenue slipped 10 percent year-on-year in preliminary results, despite production levels hitting an improved target. The company, whose operations ...

  • Argentina's Vaca Muerta shale may not be developed until oil prices rise Reuters - UK Focus - Wed, Jan 11, 2017 22:45 GMT

    Argentina made a move to lower its high labor costs this week with a deal to reduce benefits for workers in the country's immense Vaca Muerta shale oil formation, but the resource may remain largely untapped until world oil prices recover further. Vaca Muerta, which is Spanish for Dead Cow, is a shale gas and oil formation …

  • The widow of an activist executed after protesting against Royal Dutch Shell (LSE: 0LN9.L - news) 's oil production in Nigeria has won access to legal documents for use in a legal case for damages against the oil giant that she says she plans to launch in the Netherlands. A U.S. judge in December told Shell (LSE: RDSB.L …

  • U.S. shifts LNG exports to Asia as arb opens up Reuters - UK Focus - Wed, Jan 11, 2017 20:52 GMT

    The biggest divergence between U.S. and Asian gas prices in a year has created an opportunity for tankers delivering liquefied natural gas, with most departures from a key Louisiana terminal in the last month-and-a-half heading toward East Asia, shipping data released on Wednesday show. The facility, Sabine Pass, owned …

  • North Sea Crude-Forties, Ekofisk weaken Reuters - UK Focus - Wed, Jan 11, 2017 17:20 GMT

    North Sea crude differentials weakened on Wednesday, pressured by ample supplies. Forties traded lower and Ekofisk was offered at a discount to previous levels. WINDOW SUMMARY * Forties: Two cargoes traded ...

  • Europe Gasoline/Naphtha-Cracks rise despite large U.S. stock build Reuters - UK Focus - Wed, Jan 11, 2017 16:49 GMT

    Gasoline refining margins in northwest Europe rose on Wednesday amid a broad rally in oil prices despite a larger-than-expected build in U.S. gasoline stocks. * U.S. gasoline stocks rose last week by 5.0 ...

  • Tullow founder to step down as CEO, insider to replace him Reuters - UK Focus - Wed, Jan 11, 2017 11:55 GMT

    Tullow Oil (LSE: TLW.L - news) 's long-serving CEO and founder Aidan Heavey is to step down in April and retire within two years, the company said on Wednesday as it announced lower than expected production for this year due to teething issues at a new field. Heavey, who founded Tullow in 1985 and named it after the Irish …

  • MORNING BID EUROPE-Trump leaks; in Rome, a new test for Renzi Reuters - UK Focus - Wed, Jan 11, 2017 08:28 GMT

    Classified documents that the heads of four U.S. intelligence agencies presented last week to President-elect Donald Trump include lurid assertions that Russian intelligence operatives have compromising information about him, it emerged overnight. A Trump tweet has rejected them outright as "fake news". Italy's constitutional …

  • Oil producer Tullow's COO McDade to be next CEO Reuters - UK Focus - Wed, Jan 11, 2017 07:20 GMT

    Africa-focused oil producer Tullow Oil (LSE: TLW.L - news) said Chief Operating Officer Paul McDade will be its next chief executive, replacing CEO and founder Aidan Heavey who will become chairman. In a separate trading statement, the oil producer said on Wednesday 2016 full-year revenue is expected to have fallen 19 …

  • New oil projects to double in 2017, WoodMac says Reuters - UK Focus - Wed, Jan 11, 2017 06:00 GMT

    Oil and gas companies will increase spending in 2017 and more than double new project developments as they gain confidence that a two-year oil price slump is behind them, consultancy Wood Mackenzie said. The upbeat outlook follows a more than 20 percent rise in benchmark crude oil prices in the past two months to around …

  • Shell Deer Park hydrotreater shut after coker fire -ENT report Reuters - UK Focus - Tue, Jan 10, 2017 20:25 GMT

    Royal Dutch Shell Plc shut a gas oil hydrotreater on Tuesday after a fire on a coking unit at its 285,500-barrel-per-day joint-venture refinery in Deer Park, Texas, Energy News Today reported. A refinery ...

  • Argentina clinches deal to attract investment in Vaca Muerta shale Reuters - UK Focus - Tue, Jan 10, 2017 20:19 GMT
  • Ghana president names former investment banker as finance minister Reuters - UK Focus - Tue, Jan 10, 2017 18:40 GMT

    Ghana's new President Nana Akufo-Addo named the co-founder of investment bank Databank, Ken Ofori-Atta, as finance minister on Tuesday as he seeks to revitalise an economy that is heavily reliant on commodities. ...

  • North Sea Crude-Forties steady, surplus barrels dissipating Reuters - UK Focus - Tue, Jan 10, 2017 18:06 GMT

    * North Sea Forties crude differentials held largely steady on Tuesday, after two deals went through for cargoes loading in early Feburary. * A surplus that persisted throughout December appears to be ...

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