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Statoil acquires Tullow Oil stakes off Norway
Norway's Statoil ASA declared on Tuesday it had settled with the U.K.'s Tullow Oil PLC to buy stakes in four oil drilling licenses off Norway, counting a 20% stake in the Wisting finding in the Barents Sea, at an unrevealed price.
read more... 06/09/2016
Daily: Crude oil rallies at one-week high after Russia and Saudi Arabia pact
Crude oil futures hit a one-week high on Monday, after top producers Russia and Saudi Arabia signed a pact to cooperate on stabilizing the oil market and raised hopes that they would work together to tackle a global glut. Brent crude futures for November delivery rose 80 cents per barrel or 1.71 percent to settle at $47.63 a barrel. They earlier touched a session high of $49.40, a peak since August 30, ahead of the Russia-Saudi agreement. U.S. crude for October delivery gained 75 cents or 1.69 percent to end at $45.19 a barrel, after attaining a high of $46.53 a barrel earlier.
read more... 06/09/2016
Daily: Crude oil climbs about 3 percent on pessimistic U.S. job data, declines for the week
Crude oil prices ended up nearly 3 percent on Friday, spurred by a weak dollar crippled by downbeat U.S. jobs report, but for the week, prices posted a sharp decrease on worries about oversupply. Brent crude futures rose by $1.38, or 3 percent, to settle at $46.83 a barrel. For the week, Brent declined 6 percent, its largest drop in five weeks. U.S. West Texas Intermediate futures gained $1.28, also 3 percent, to close at $44.44. WTI lost nearly 7 percent on the week, its largest decrease in eight weeks.
read more... 05/09/2016
Daily: British wholesale gas prices down on an oversupplied market
On Thursday, oil prices registered a decrease of more than 3 percent, their biggest decline in a week since January (almost 9 percent), as investors have put aside rumors about a possible production freeze from OPEC, and focused on an unexpected big increase of US crude inventories. Brent crude prices have settled down $1.44 at $45.45 per barrel, or 3.38 percent. U.S. crude's West Texas Intermediate (WTI) futures fell $1.54 or 3.45 percent at $43.16 a barrel.
read more... 02/09/2016
Iran intends to increase oil production to 4.7 million barrels per day
According to Mansour Moazami, deputy minister of Industry, Mine and Trade of Iran, as well as former managing-director of the National Iranian Gas Company, Iran intends to raise daily crude production from its current level of 3.8 million barrels to 4.75 million barrels, as the country needs to promote its strategic role with the introduction of new policies.
read more... 01/09/2016