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News Archive for: July 2013

Hess in $1bn asset sale:

Hess Corp has sold off a domestic downstream asset to a subsidiary of UK gas giant Centrica in a deal worth over $1 billion.

The US independent giant has sold its Energy Marketing business to Direct Energy, a Centrica offshoot, for $1.025 billion, it said on Tuesday.

The sale is part…

BP posts second quarter profit:

UK supermajor BP posted a profit during the second quarter of the year despite a dip in revenue.

The company posted a profit of $2.1 billion for the second quarter of the year, recovering from a loss of nearly $1.5 billion during the same period last year.

It should be noted…

ConocoPhillips in UK discovery:

ConocoPhillips has unearthed a hydrocarbons discovery at what was seen as a high-risk play in the UK North Sea.

The US supermajor has struck a 100-foot-plus gas column at the 23/22b-6Z exploration well on the Lacewing prospect on the eastern margins of the central North Sea, partner Premier Oil said…

NORTH SEA oil prices bounced back close to a three-month high:

The price of a barrel of Brent crude rose to $108.68 (£70.72), near the level of $109.04 that it hit earlier this month which was the most since early April.

Experts say Brent prices could get a boost from ­growing demand and ­ supply risks in the Middle East and…

DONG Energy announces discovery in West of Shetlands drilling campaign:

DONG Energy has announced the results from two exploration wells that were drilled in the West of Shetlands at the end of 2012 and early 2013.

After initial analysis, the Cragganmore exploration well is confirmed as a gas discovery and the Glenrothes well has been plugged and abandoned. The next…

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