Category: Europe

BP sells UK natural gas midstream assets

BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.  More »

CERAWeek Commentary: American oil CEOs avoid climate change talk, while Euro counterparts take it head on

No fewer than three U.S. oil executives attending IHS Energy CERAWeek have said government regulations need to be based on science, not public sentiment. Yet not one of them talked about the scientific consensus acknowledging global climate change.  More »

CERAWeek: Europe’s natural gas network is lacking, Eni boss says

Europe’s natural gas markets have been handicapped by a lack of infrastructure, essentially creating many separate segments instead of one united market, CEO Claudio Descalzi told CERAWeek attendees.  More »

CERAWeek Q&A: Siemens CEO will focus on integrating acquisitions amid downturn

Siemens AG CEO Joe Kaeser talked with FuelFix ahead of his CERAWeek presentation Wednesday about his continued faith in the oil and gas business and global crude demand.  More »

CERAWeek: In low-carbon, low-price world, oil industry must collaborate and cut costs, Statoil CEO says

The fall in crude prices requires the industry to “do more than just hit the brakes,” Statoil CEO Eldar Saetre said.  More »

CERAWeek: Total CEO not eyeing U.S. unconventionals

The factory drilling that marks unconventional oil and gas development requires a totally different business model and skill set than traditional plays, Total’s CEO said.  More »

Allowing Iran’s oil back onto markets could cost Russia $27 billion

A deal with world powers over Iran’s nuclear program has the potential to shift the balance of power in the Middle East as Iran competes against Saudi Arabia, a U.S. ally.  More »

Houston oil company among five caught in legal battle over new U.K.-Argentina Falkland Islands fight

Argentina filed criminal charges Thursday at the general prosecutor’s office in Buenos Aires against five U.K. and U.S. oil companies.  More »

Big oil deposit near London airport, but will be hard to tap

While oil companies have been drilling in the Weald Basin since the 1930s, UK Oil & Gas says new “concepts, techniques and technology” have given it a better understanding of the region’s potential.  More »

Shell deal brings relief to Dutch companies used to being prey

Ten benchmark Dutch stocks, or just under half the 25 spots that make up the Amsterdam Exchanges Index, have been acquired since 2007, when ABN Amro Holding NV was snapped up for $100 billion by a consortium led by Royal Bank of Scotland Plc.  More »

The CEO of BG just arrived in February, and could walk with $43 million

Lund, who joined BG on Feb. 9 after heading Norway’s Statoil ASA, is entitled to liquidated damages equal to a year’s gross salary and 30 percent of base pay, the Reading, England-based company’s annual report showed.  More »

Russia’s natural gas giant is cutting its dividend after seeing its profits tank

The massive drop in profits may translate into a payout of about 2 rubles a share, compared with 7.2 rubles a year earlier.  More »

Russia sets terms for $1.7 billion Schlumberger-Eurasia deal

Russia’s commission on foreign investment will meet the U.S. oil-services company to go through the conditions in the next 10 days, Igor Artyemev, head of Russia’s anti-monopoly service, said Thursday in Moscow.  More »

Shell cuts staff numbers in North Sea operations

The price of Brent crude, an international variety of oil, dropped about 50 percent last year and the industry is scrambling to figure out how to address the price shock.  More »

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 »
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