Norwegian firms create oil giant
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Norwegian energy giants Statoil and Norsk Hydro unveil plans to merge their offshore oil and natural gas operations.
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Some companies are dealing with rising oil costs in unique ways.
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London: Oil prices hovered below recent record highs today after intervention by the Norwegian government to end industrial strife in the worldâs third-biggest oil exporter took some heat out of feverish markets.
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CALGARY (CP) - Canadian energy producer Nexen Inc. is betting $2.1 billion US that a major North Sea oilfield can help stop the company&#39;s falling production and reduce the risks of operating in the volatile Middle East and hurricane-prone Gulf Coast.
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E.On becomes the latest of the big energy firms to increase prices of gas and electricity.
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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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Major oil companies are playing a bigger role in the search for oil and gas from unconventional sources, consultants Wood Mackenzie said on Monday.
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FAROE Petroleum, the Aim-listed oil and gas minnow, will today be awarded exploration rights from the Faroe Islands' second-round licensing for two new sites in the North Atlantic margin area.
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US oil prices hit fresh record levels after Norwegian ship owners threaten to cut off supplies from the world's third biggest exporter.
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Directors at Gazprom, the largest natural gas company in the world, approved the creation of an oil holding company Friday, setting the stage for the creation of a state-controlled oil and gas giant and cementing the Russian government's influence in the politically important oil sector.
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Norway's natural gas production reached a new high in 2004, but falling oil output is putting pressure on the world's third-largest oil exporter to find new reserves, the Norwegian Petroleum Directorate said Thursday.
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WASHINGTON -- Ever since Erle Halliburton established the New Method Oil Well Cementing Co. in Oklahoma in 1919, his name has been associated with American corporate know-how in the oilfield services business.
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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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Norsk Hydro and Aker Kvaerner have signed the main installation contract for the Ormen Lange onshore plant on the north west coast of Norway.
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Public sector behemoth Oil and Natural Gas Corporation Ltd on Monday said it has acquired an offshore oil field in Western Australia.
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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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A huge underwater oil field discovered late last year has the potential to transform Brazil into a sizable exporter and win it a seat at the table of the worldâs oil cartel.