Norway oil and gas production up, industry investments down in 2017 STAVANGER, Norway, Jan 12 (Reuters) – Norway oil and gas output will be higher than previously expected in 2017 and 2018 following above-forecast output last year, the Norwegian Petroleum Directorate (NPD) predicted on Thursday. At the same time the regulator cut its forecast for the industry’s […]
Norway oil and gas production forecasts raised Read More »
Saudi oil output to be reduced more in February ABU DHABI, Jan 12 (Reuters) – Saudi oil output has been reduced to slightly below 10 million barrels per day and plans a deeper cut in February under an agreement among global producers to reduce output, Saudi Energy Minister Khalid al-Falih said on Thursday. “The market first of
Saudi oil output below 10 million b/d, cut will deepen: Energy minister Read More »
Guyana reservoir contains 100-150 million barrels of oil Jan 12 (Reuters) – Exxon Mobil Corp said on Thursday drilling results from a third exploration well offshore Guyana showed a new reservoir containing 100-150 million barrels of oil equivalent. The discovery at the Stabroek block is off a border region that is claimed by Venezuela in
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Hess increase first sign the shale industry will boost spending this year Jan 12 (Reuters) – Hess Corp budgeted $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that the shale industry will spend more in 2017 after years of declines. Shares
Hess to spend more on exploration and production this year Read More »
Oil prices up over $1/barrel By Christopher Johnson LONDON, Jan 12 (Reuters) – Oil prices jumped more than $1 a barrel on Thursday on news that key OPEC members were cutting production as promised and on forecasts of strong demand growth in China. Brent crude oil rose $1.33 a barrel to a high of $56.43 before
Oil prices up on OPEC output cuts, China demand forecast Read More »
“Clearly, the project will have economic benefits for British Columbia workers, families and communities” British Columbia has issued Environmental Assessment Certificate for the BC portion of the Trans Mountain Pipeline Project, following the Canadian government’s green light in late Nov. “Today we issued an EA Certificate for the project, understanding that all inter-provincial pipelines are under
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MEG Energy capital budget to be nearly four times higher than 2016 CALGARY, Alberta, Jan 11 (Reuters) – Canadian oil sands producer MEG Energy’s 2017 capital budget will be nearly four times higher than last year’s spending, the company said in a statement on Wednesday that also outlined plans to refinance its debt. Calgary-based MEG plans
MEG Energy ups spending plans for 2017, outlines debt refinancing Read More »
Wood Mackenzie says spending to rise to $450 billion after two years of cuts By Ron Bousso LONDON, Jan 11 (Reuters) – 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.
New oil projects to double in 2017, Wood Mackenzie says Read More »
Demand Energy leader in power storage market MILAN, Jan 11 (Reuters) – Italy’s biggest utility Enel said on Wednesday it had bought US-based energy software company Demand Energy for an undisclosed sum as part of its digital drive to boost growth. Demand Energy, a leader in the New York City power storage market, has designed software
Enel buys Demand Energy to bolster digital drive Read More »
Homer City Generation owns three coal-fired power plants Jan 11 (Reuters) – Homer City Generation L.P., which owns three coal-fired electric power plants in the United States, filed for bankruptcy on Wednesday. The company, which expects to continue operations during the Chapter 11 process, said the reorganization would eliminate $600 million of its debt. NRG
U.S. coal plant owner Homer City Generation files for bankruptcy Read More »
