Norwegian firms create oil giant
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The deal will create a global offshore oil giant Energy firms Statoil and Norsk Hydro have unveiled plans to merge their offshore oil and gas operations, creating a global industry giant.Comment
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New technology has made it possible to unlock more oil from old fields, allowing companies to go after reserves that are harder to reach.
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Oil scaled a new high above &#36;55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world's third biggest exporter stoked fears of a winter supply crunch.
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Petrobras, Brazil's state-owned petroleum giant, opened a bidding process Thursday for construction of 42 oil tankers to be built for an estimated $1.9 billion (euro1.44 billion), the company said.
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The merger of the energy operations of Norway's oil giant Statoil and Norsk Hydro is approved by shareholders.
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Business & money: Firm to explore in oil and gas sites in landmark agreement that could help plug Russian gap.
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The world's largest offshore drilling contractor got bigger yesterday when Transocean said it will combine with GlobalSantaFe, creating a company able to drill globally in shallow or ultra-deep waters.
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Thousands of tons of crude oil spill into the North Sea off Norway as a tanker is loaded, an oil company says.
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LONDON -- Oil scaled a new high above $55 a barrel Monday as a threat by Norwegian ship owners to halt production from the world&#39;s third biggest exporter stoked fears of a winter supply crunch.
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The oil and gas firm keeps ratcheting up reserves.
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A consortium of foreign companies has resolved a dispute over Kazakhstanâs giant Kashagan oil field.
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Oil giant Exxon Mobil Corp. said Wednesday it is teaming up with Nigeria's state-owned oil company to build a plant to produce natural gas on the country's Atlantic coast for markets in Europe and America.
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Nigeria and Sao Tome signed a landmark oil exploration contract with a U.S.-dominated consortium on Tuesday, marking Sao Tome's first steps into the world of big oil, authorities said on Tuesday.
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Some companies are dealing with rising oil costs in unique ways.
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A "significant" oil and gas find has been made in the North Sea west of Shetland, it is announced.
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Norway has turned income from its 3.3 million barrels per day offshore oil production into a government-owned investment fund worth about $165 billion.
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Norway's Norsk Hydro and Statoil have agreed to merge the two groups' oil and gas activities to create a national champion, the companies said on Monday.Comment