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Daily: Crude oil prices tumble for fourth consecutive session after Iran stated won’t freeze output
Crude oil fell again on Monday after Iran said it has no plans to join any output freeze by other major crude producers and as the number of rigs drilling for crude in the United States remained steady after dipping for eight consecutive weeks. WTI's front-month eased 33 cents to settle at $48.08 a barrel, after plumbing a session low at $47.40. Brent's front-month lost 37 cents to close at $48.35, off the day's low of $47.58.
read more... 24/05/2016
Norway awards new offshore drilling licenses in Barents Sea for the first time in 2 decades
Norway’s government awarded on Wednesday 10 new licenses for offshore oil and gas exploration in the Barents Sea, including three in previously untapped waters near the Russian border.
read more... 19/05/2016
Daily: Oil rebounds on crude stockpiles withdrawal at Cushing hub
Crude oil prices boosted about 1 percent on Monday after figures indicated crude stockpiles at the Cushing, Oklahoma delivery hub plunged for the first time since January and ahead of the expiration of the U.S. front-month contract. However, oil increase was capped by worries that U.S. energy companies could boost drilling again after a two-month long recovery in crude prices. Brent crude futures for May delivery rose 34 cents, or 0.8 percent, to settle at $41.54 a barrel. Brent has rebounded 53 percent from 12-year lows of $27.10 attaint on January 20. U.S. crude's futures for April delivery climbed 47 cents, or 1.2 percent, to close at $39.91, expiring as the front-month.
read more... 22/03/2016
Spain’s Repsol unveils a significant gas discovery in Bolivia
Spain's Repsol has unveiled a discovery of 4 trillion cubic feet (tcf) of possible natural gas reserves in Bolivia that it will start drilling in 2019.
read more... 22/02/2016
Italy’s Eni to spend $4 bln on first phase of Zohr gas field in Egypt
Italian energy major Eni has invested $4 billion in the development of the first phase of Egypt's giant offshore Mediterranean gas field, Zohr, comprising the drilling of four wells, according to an Egyptian official.
read more... 16/02/2016