Tag: Statoil

Statoil makes Gulf of Mexico discovery

Statoil and its partners have struck oil in the Gulf of Mexico, but more work is needed before the Norwegian oil company can determine the size of the discovery.  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 »

OTC panel to talk big ideas on fifth day of programming

Organizers described the lineup as more like South by Southwest or X-Games than an industry conference.  More »

Statoil, West Virginia agree on deal for drilling under Ohio River

The Intelligencer and Wheeling News-Register reports that Norway-based Statoil plans to drill on about 474 acres of state-owned land under the river in Marshall and Wetzel counties.  More »

Feds collect millions in Gulf oil drilling sale, despite falling prices

Slumping oil prices tempered some of the industry’s enthusiasm for new drilling rights in the Gulf of Mexico — but not much.  More »

How Europe’s oil companies are profiting from the slump

Although better known for their oil fields, refineries, and petrol stations, BP Plc, Royal Dutch Shell Plc and Total SA are also the world’s biggest oil traders.  More »

Statoil agrees to pay $2 million for illegal well in North Dakota

Authorities say the well was drilled in December 2011 on unleased federal land about two weeks after Statoil Oil & Gas Services Inc. acquired Brigham Oil & Gas L.P.  More »

Feds weighing Shell bid for more time in Arctic

Interior Secretary Sally Jewell said the Obama administration will decide soon whether to yield to Shell’s request for an extension of its Arctic drilling leases. Statoil and ConocoPhillips have made parallel requests for leases that will begin expiring in 2019.  More »

Oil slump threatens easy life of affluent Norwegians

After a decade of an oil-and-gas boom, plunging energy prices are shaking Norwegians out of a Utopian reverie that guaranteed workers lengthy summer vacations, generous health and social benefits, and allowed them to leave work at 4 p.m. and even earlier on Fridays.  More »

Norway rejects call to cut oil taxes as cure for crude crash

Oil companies in the country are preparing to cut investment by 15 percent this year.  More »

BG Group’s new CEO Lund starts three weeks early amid oil crash

Norway’s Statoil ASA, which Lund led until October last year, agreed last week to release him from his contractual commitments, BG said in a statement today.  More »

Oil on track for biggest two-week gain in 17 years

Oil has rebounded as companies including Statoil ASA, BP Plc and Royal Dutch Shell Plc have reduced investments in response to the market’s collapse.  More »

Statoil announces U.S. spending cuts; could cut jobs, too

Statoil said it would cut is capital expenditures this year by 10 percent to $18 billion.  More »

Statoil deepens spending cuts amid oil price rout

Statoil said Friday its earnings were eroded by sagging oil prices and impairment losses linked to its international operations.  More »

Statoil names new CEO

The Norwegian oil giant’s former CEO Helge Lund is taking the reins of BG Group.  More »
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