BERLIN (AP) — Germany's Wintershall says it is buying shares in North Sea oil and gas fields from Norwegian company Statoil for $1.25 billion.
Wintershall, a subsidiary of BASF SE, said Friday that the transaction is expected to close by the end of the year. The deal includes shares in two production fields, a pipeline project and four exploration licenses.
China National Offshore Oil Corporation has opened bidding on 33 blocks of offshore leases totalling more than 48,000 square miles, stretching from Qingdao in the north to an area off Hainan Island in the South China Sea, Platts reports.
Norwegian company Statoil is expanding a pilot program in the Bakken Shale, where it captures natural gas that is a byproduct of oil drilling, and uses some of it to power oilfield equipment like drilling rigs instead of burning it off, FuelFix reports.
Members of Canada’s Oil Sands Innovation Alliance, which includes some of the world’s big oil companies, will take voluntary steps to reduce the environmental impact of their operations, Cosia’s chief said Tuesday, The Wall Street Journal reports.
North Sea oil policy would remain the same if Scotland became independent in the wake of September’s referendum, Scotland’s energy minister said, although oil companies have expressed skepticism, The Wall Street Journal reports.
BUENOS AIRES, Argentina (AP) — State-run Argentine oil company YPF SA said Thursday it has reached a deal with Malaysia's Petronas to develop what is believed to be massive deposits of shale oil and gas in the vast Vaca Muerta formation in Patagonia.
YPF said the Malaysian state-owned oil company will provide $475 million of an initial investment totaling $550 million for a pilot phase scheduled to start early next year.
SAN FRANCISCO (AP) — The U.S. Bureau of Land Management will resume issuing oil and gas leases next year for federal lands in California after a new study found limited environmental impacts from fracking and other enhanced drilling techniques, the agency said Thursday.
The move will end a halt that has stood since a federal judge ruled in 2013 that the federal agency failed to follow environmental law in allowing an oil extraction method known as fracking on public land in Monterey County.
ANCHORAGE, Alaska (AP) — Royal Dutch Shell PLC has filed a revised Arctic offshore drilling plan with federal regulators but says the company hasn't decided whether to return to waters off the coast of northwest Alaska in 2015.
The revised exploration plan submitted to the Bureau of Ocean Energy Management in Anchorage calls for two drilling vessels to operate simultaneously in the Chukchi Sea rather than one in the Chukchi and one in the Beaufort Sea off Alaska's north Coast.
The presence of two vessels is required so one can drill a relief well in the event of damage from a blowout.
Some ten percent of natural gas produced in drilling fields like those in the Bakken and Eagle Ford shale – most of which is methane -- leaks into the atmosphere, according to a study published in the journal Earth’s Future, E&E reports.
An increase in a Chinese manufacturing index combined with faster-than-expected growth in European industrial activity helped boost oil prices early Thursday. U.S. benchmark crude gained 20 cents to $80.72 a barrel in electronic trading on the Nymex, while in London Brent crude was up 25 cents to $84.96, Reuters reports.
California Resources Corp., a production unit that Occidental Petroleum Corp. is planning to spin off next month, saw a drop in net income to $188 million from July to September, which it attributed to lower crude prices and higher production costs, FuelFix reports.
Kinder Morgan’s $44 billion move to combine its companies will go to shareholders for a vote Nov. 20, the company said Wednesday, claiming the step “paves the way for superior growth,” FuelFix reports.
With $9.5 million laid out so far this year on lobbying -– according to figures in disclosure reports filed with the Senate –- Koch Industries has outspent Exxon Mobil and funneled significantly more into advocacy than it did in 2013, E&E reports.
Cabot Oil & Gas and Vera Scroggins return to court in Pennsylvania next week in another chapter of their long-running legal fight, with the 63-year-old anti-fracking activist potentially facing fines or time in prison, NPR’s StateImpact Pennsylvania reports.
State Department energy envoy Amos Hochstein says the federal government won’t get involved in the dispute between Baghdad and the Kurdistan Regional Government in Iraq over ownership of oil on board the tanker United Kalavrvta, which has been sitting off the coast of Galveston for months, Platts reports.