Category: Europe

Russian oil-output cuts to support OPEC seen as unlikely

Brent crude oil futures rose as much as 0.8 percent to $80.30 a barrel in London trading Tuesday.  More »

Russia considers joining OPEC oil output cuts in 2015

The world’s biggest crude oil producer may agree to reduce output by 15 million tons in return for tens of millions in OPEC reductions.  More »

Russian FM rejects intervention in oil production

Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by “political or geopolitical designs.”  More »

Ineos to invest $1B in UK shale gas exploration

The company is applying for more licenses to expand its operations in Scotland and in northern England.  More »

Putin says Russia preparing for “catastrophic” oil slump

Russia is struggling under the weight of a plummeting ruble and sanctions imposed over the conflict in Ukraine.  More »

Former Russian finance minister tells Rosneft to keep hands off $44B from rainy day fund

For Rosneft, the timing of the economic sanctions against Russia couldn’t have been worse: the company has to repay almost $30 billion in loans by the end of the next year, debt racked up in the 2013 purchase of competitor TNK-BP.  More »

Dutch to test solar panels on bicycle path

The path is built of massive, Lego-like modules of solar panels embedded in concrete.  More »

Russia, China add to $400 billion gas deal with accord

Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.  More »

Statoil projects big returns from massive North Sea oil field

The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day.  More »

Shell says lower oil prices could affect pace in Permian

European oil giant Royal Dutch Shell saw its profits slide 4.6 percent in the third quarter as it began to feel the dip in crude oil prices.  More »

Statoil suffers first loss on oil-sands project, crude drop

Statoil ASA, Norway’s biggest energy company, reported its first quarterly loss since listing in 2001 after writing down the value of an oil-sands project in Canada and struggling with plunging crude prices.  More »

Total’s Pouyanne sticks to cost-cutting as profit falls

Patrick Pouyanne, who was named to succeed de Margerie last week, plans to “hit the road” to visit contacts in the oil industry and in several resource-rich countries  More »

BP CFO: $70 oil would threaten Big Oil projects

The Big Oil industry’s prized projects won’t face major cuts unless oil prices fall below $70 a barrel, BP’s chief financial officer told investors on Tuesday.  More »

President, French elite honor late Total CEO

Total Chief Executive Christophe de Margerie’s cherubic demeanor made him known and appreciated by many French.  More »

EU reaches deal to cut greenhouse gas emissions

The decision makes the EU the first major economy to set post-2020 emissions targets ahead of a global climate pact that is supposed to be adopted next year in Paris.  More »
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