Tag: Statoil

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 »

Shell cuts $15 billion of spending as profit misses expectations

Shell shares dropped as much as 4.4 percent in London and traded at 2,067 pence at 10:17 a.m.  More »

Arctic explorers retreat from hostile waters amid oil plunge

Cheap oil threatens to demote the importance of a region already challenged by high costs, environmental concerns, technological obstacles and, in the case of Russia, international sanctions.  More »

Southwestern Energy to buy more Marcellus, Utica acreage

Southwestern Energy Co. said Tuesday it is planning to snap up Statoil’s 20-percent stake in oil and gas assets in West Virginia and southwest Pennsylvania for $394 million, just a day after closing its biggest-ever deal with Chesapeake Energy in the region.  More »

Statoil makes small North Sea oil discovery

The new well is about 15 miles southwest of the Osberg South field, and is the eighth exploration well in this production license.  More »

Chevron subsidiary granted rights to explore offshore New Zealand

The license covers more than 6.26 million acres in a frontier basin with water depths from 2,600 to 9,800 feet.  More »

Companies announce first oil from deep-water Gulf fields

Oil has begun flowing at the Jack/St. Malo project in the deep-water Gulf of Mexico.  More »

Working overseas dangerous, lucrative for oil and gas employees

Terrorist groups have increasingly been targeting oil and gas workers for their lucrative kidnapping ransoms.  More »

Transocean expects $2.76 billion in writedowns

Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling.  More »
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