News Archive for: October 2013

BP plans to sell $10bn (£6.2bn) of assets over the next two years and hand most of the cash back to shareholders, the oil giant announced on Tuesday, as it unveiled a smaller fall in profits than analysts had feared.

The news, combined with an unexpected increase in the quarterly…

Norwegian oil giant Statoil said it expects production levels to fall next year as the impact of its recent sell-off programme is felt.

Production by firm grew by around 6% in the last quarter, but the sell-off of North Sea and Norwegian Sea fields to OMV and Wintershall over the…

BP today announced its financial results for the third quarter of 2013. Underlying replacement cost profit1 for the period was $3.7 billion, compared to $2.7 billion for the previous quarter. Operating cash flow in the quarter was $6.3 billion.

Consistent with its commitment to maintaining a progressive and sustainable dividend…

Chevron Corporation (NYSE: CVX) announced the successful conclusion of the initial exploration phase by its Canadian subsidiary, Chevron Canada Limited, in the Kaybob area of the Duvernay play, located in west-central Alberta, Canada.

Chevron Canada Limited successfully concluded the initial twelve well exploration drilling program in the liquids-rich portion of…

Abu Dhabi state-controlled company Taqa has resumed output from the Causeway and Cormorant East fields in the UK North Sea.

The fields were shut-in last month while routine maintenance was carried out North Cormorant platform.

Field partner Antrim Energy revealed on Friday that the six-week maintenance programme had been completed and…