Tag Archive | "Oil & Gas"

Chevron to develop in Gulf of Mexico

Chevron, the second-largest US oil group, has given the green light to the $7.5bn development of two large fields in the Gulf of Mexico

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Nifty gains momentum; Cipla, HUL, RIL, Bharti lead

Benchmarks were playing catch-up game with broader markets as investors bought up stocks from oil&gas, FMCG and realty space.

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Afren to buy 45% stake in Nigerian field

The London-listed oil company is poised to strike a $187.5m deal with Royal Dutch Shell, France’s Total and Italy’s Agip for their combined stake in the OML 26 field

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Occidental ahead 29% in quarter

Strong 6.5 per cent production growth reached a record level in the third quarter, pushing net profit to $1.2bn

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Oil heats up as bulls target $100-a-barrel price

Goldman’s forecast that crude prices will break the triple-digit barrier by the end of the year runs up against a sanguine industry view

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Minister highlights Saudi ‘easy oil’ strength

Ali al-Naimi, Saudi Arabia’s oil minister, has rejected suggestions that the era of cheaply explored oil is over, saying that his country’s largest oilfield, Ghawar, still holds at least 88bn barrel of easily extracted oil reserves

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Rockhopper seeks to extend Falklands drilling

The Falklands Islands-focused oil explorer hopes to raise £200m through an accelerated bookbuilding to extend its drilling programme just days after cutting its resource estimates

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BP links bonuses to safety performance

Move is latest by chief executive Bob Dudley as he tries to restore BP’s reputation after the disastrous spill in the Gulf of Mexico

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Wave of closures set to hit US coal stations

Closures of US coal-fired power plants are set to accelerate sharply during the coming decade as a wave of environmental regulations hits the industry, analysts and executives believe

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Halliburton profit surges in third quarter

Halliburton, the second biggest oilfield services company in the world, said it more than doubled net income in the third quarter as the shale gas and oil boom in the US offset a slowdown in Gulf of Mexico activity following the BP spill

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