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Norway on bubble watch as anxiety over oil plunge recedes

Threats from Norway’s hot housing market have trumped anxiety that forced Governor Oeystein Olsen, 63, to deliver a surprise rate cut in December, when oil sank to about $63.  More »

Texas landmen left out of work as oil patch boom times go bust

Land managers, or landmen as they’re known, are part of a once dying oil patch profession resurrected when production soared.  More »

Return to $100 oil seen unlikely by Saudis amid shale surge

Brent oil, the global benchmark, declined almost 50 percent in the past year as Saudi Arabia and others in the Organization of Petroleum Exporting Countries committed to maintain output amid a global surplus.  More »

Nigeria’s rating lowered by S&P as oil, politics hit economy

Africa’s largest economy, which derives 90 percent of export earnings and 70 percent of government revenue from oil, is struggling with Brent crude prices having halved since June.  More »

Russian exports could be the next biggest threat to global crude oil prices

Russia may increase oil exports by as much as 250,000 barrels a day this year, according to the Oxford Institute for Energy Studies.  More »

Petrobras said to pick Citi and Bradesco for asset sales

Petrobras, engulfed in Brazil’s biggest ever corruption scandal, is looking to raise money for expenditures and debt payments this year.  More »

More Iran oil may flow within months of deal, officials say

Both sides are seeking a final deal by the end of June laying out steps that Iran would have to take to limit its ability to enrich uranium and produce plutonium in exchange for phasing out economic sanctions on energy and banking that have cut crude exports, choked cash flow and halted most oil investment.  More »

Siemens drops as oil price slump hurts profitability, sales

Siemens is in the midst of cutting 9,000 jobs to save 1 billion euros in costs by 2017.  More »

Saudi crude exports in January reached highest in 11 months

The growth in January exports coincided with a 7.6 percent slide in the Brent crude price that month, signaling that cheaper oil may be stimulating demand amid a global surplus.  More »

Report: Oil firms’ rising debts add downward price pressure

Debts owed by energy firms have more than doubled since 2006, the Bank for International Settlements said in a report on Wednesday, following similar comments last month.  More »

Dragon Oil gets buyout approach from Emirates National Oil

Emirates National has been seeking new oil supplies. Dragon produced an average of 78,790 barrels of oil a day last year with sales of $1.09 billion.  More »

Tourmaline hunts for energy deals as rivals dump assets

Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.  More »

North Sea oil industry under siege seeks U.K. tax cuts

The picture for North Sea today is grim. Production is less than half its peak in the 1990s, when the U.K. was a leading oil and gas exporter, giving the government billions in taxes to spend.  More »

Saudi oil adviser says strengthening demand will lift prices

Prices have stopped falling at about $60 a barrel as expanding demand helps contain the global glut.  More »

Norway has an $18 billion plan to shift away from oil

Western Europe’s biggest crude producer is facing what central bank Governor Oeystein Olsen calls a “period of restructuring” amid plunging oil prices.  More »
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