|Bid||42.90 x 1100|
|Ask||43.20 x 25000|
|Day's range||46.85 - 47.26|
|52-week range||42.22 - 49.33|
|PE ratio (TTM)||14.09|
|Forward dividend & yield||2.48 (5.21%)|
|1y target est||N/A|
A consortium operating Kazakhstan's giant Kashagan oilfield is considering the joint development of two smaller nearby fields, one of which is co-owned by Oman Oil Company, its senior executive said on Friday. Apart from Kashagan itself, the consortium known as North Caspian Operating Company (NCOC) holds rights to develop three smaller nearby fields in the Caspian sea. "We have identified a number of opportunities to reduce the cost of the project that could make it economically viable," Bruno Jardin, managing director of NCOC, told a meeting at the energy ministry, referring to the idea of co-developing Kalamkas and Khazar.
In the decades before oil was discovered in the northern Kenyan region of Turkana South, 100,000 poor villagers living in arid scrubland relied on a lone church-run health centre in Lokichar town for medical help. Since Tullow Oil found crude there six years ago, the London-listed company has funded a 40-bed referral hospital, school classrooms and dormitories, provided village water points graded roads, and paid for scholarships to generate goodwill. Seeing the potential benefits of oil, residents of the poorest of Kenya's 47 counties now want the central government to make up for decades of neglect by ploughing nearly a third of expected oil revenues back into Turkana.
ExxonMobil's (XOM) expansion plans at the PNG LNG plant is likely to give severe competition to major LNG projects in Australia.
The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP said, forecasting a peak in demand for the first time. In its benchmark annual Energy Outlook, BP forecast a 100-fold growth in electric vehicles by 2040, with its chief economist Spencer Dale painting a world in which we travel much more but instead of using private cars, we increasingly share trips in autonomous vehicles.
Norway’s $1 trillion sovereign wealth fund wants to sell out of oil and gas stocks, arguing that would reduce overall risk to the country since petroleum is already the top export.
Oil prices have stabilized at new, lower levels, after last week’s steep plunge as both WTI and Brent are finding support around the $60 mark
Norway's finance ministry asked the central bank on Tuesday to explain what impact a potential listing of state oil giant Saudi Aramco would have on the benchmark equity index of the country's $1 trillion sovereign wealth fund. The request was made as part of public consultations on Norges Bank's proposal to drop the oil and gas sector from the fund's investments in order to reduce the risk of oil-price fluctuations. The Saudi government plans to sell about 5 percent of Aramco, hoping to raise some $100 billion or more in what would likely be the world's biggest initial public offering.
Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said the rig contractor's path to recovery is starting to take shape after the company posted fourth-quarter revenue that beat analysts' ...
With (Other OTC: WWTH - news) years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell (LSE: 0LN9.L - news) and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil (Swiss: XOM-USD.SW - news) , the biggest publicly traded oil company, has largely disappointed with a weaker outlook.
ABU DHABI/DUBAI, Feb 10 (Reuters) - A consortium led by India's Oil and Natural Gas Corp (ONGC) has become the first group to win a stake in Abu Dhabi National Oil Co's (ADNOC) 40-year offshore oil concession, a deal set to help the UAE expand its foothold in Asia. State-run ADNOC signed an agreement on Saturday (Shenzhen: 002291.SZ - news) with the ONGC Videsh-led consortium giving the group a 10 percent stake in the new Lower Zakum offshore concession, with a participation fee of 2.2 billion dirhams ($600 million), ADNOC said in a statement, confirming a report by Reuters.
Big dividends and share buybacks are making a comeback in the oil industry amid a fragile market recovery, with French oil giant Total the latest company to signal growing confidence in the industry.
Just about everything went Total's way this past quarter, such that the company is in a position to start rewarding shareholders for their patience.
Higher production, oil prices and cost savings drove a 28 percent rise in net profit at Total last year, allowing the French oil and gas group to hike dividends and announce plans to buy back shares. Adjusted net profit came in at $10.6 billion, helped by a 5 percent rise in production. "The group demonstrated its ability to capture the benefit of higher prices," Chief Executive Patrick Pouyanne said, adding that the company's return on equity was more than 10 percent, the highest among oil majors.
* Gas exports from the Elgin Franklin fields remain unavailable on Thursday morning, curbing supplies from Total E&P's Bacton Seal gas terminal, the company said in a market update. * Britain's biggest and most important oil and gas pipeline Forties, was shut for a second time in two months on Wednesday, affecting connecting infrastructure. * "Elgin Franklin gas export has had to stop due to a request to stop oil export," Total E&P said.
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Total SA signaled growing confidence that the oil-industry slump is ending by pledging to raise its dividend and buy back shares in the coming years.
Britain's biggest and most important oil and gas pipeline Forties was shut for a second time in two months on Wednesday, raising concerns about the reliability of infrastructure behind the world's top oil benchmark. Pipeline operator Ineos said it aimed to restart the pipeline overnight. The pipeline, which pumps about 450,000 barrels per day of oil, was previously shut in mid-December for about three weeks when a crack was discovered.
* Ineos, operator of the Forties oil and gas pipeline, said a feed control valve closed at its Kinneil facility at around 1020 GMT, leading the main pipeline system to close. * "We have now identified ...
French oil and energy group Total has bought stakes in some offshore Guyana oil production blocks, boosting its presence in the potentially lucrative Guyana basin. Total said it was buying a 35 percent ...
Exxon Mobil Corp and Chevron Corp posted rare quarterly earnings misses on Friday as cost cuts and rising oil prices failed to offset weakness in international refining operations, sending shares of both companies plunging. The results surprised Wall Street, where analysts had been steadily raising expectations due to stronger crude prices and a rebounding global economy, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data. "We got carried away with our expectations, and by we, I mean Wall Street as a whole," said Oliver Pursche of wealth manager Bruderman Brothers LLC, which holds Exxon shares.
Iraq plans to increase production at its giant Majnoon oilfield to 450,000 barrels per day in three years, from 240,000 bpd now, an Iraqi oil executive said on Thursday. State-owned Basra Oil Company is ...
Royal Dutch Shell snapped up nine of 19 Gulf of Mexico oil and gas blocks awarded in a Mexican auction on Wednesday, as the global oil major ramped up its big bet on Latin America's deep waters. The auction raised an estimated $93 billion in investment for Mexico and was the biggest since the country's energy sector opened to foreign firms in 2014. The stakes were high for Mexican President Enrique Pena Nieto and his struggling party, which wants to showcase the results of its energy liberalization ahead of a presidential election in July.