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News Archive for: September 2013

Norway’s Innovators Help Oil Industry Move to Harsher Climes:

A drillship that cuts through two metres of ice, radar that detects oil spills in Arctic darkness and a drill that burrows through rock like a mole are among Norwegian innovations helping the oil industry as it moves into harsher climes.

Small companies in Norway, backed by tax subsidies, a…

Tax breaks & co-operation needed to help North Sea oil:

North Sea oil industry leaders have called for Norwegian-style tax breaks for exploration and more co-operation between companies to cut costs and help stave off decline.

Now in its fifth decade of pumping oil and gas, for the oil and gas industry in the North Sea, finds tend to be…

Bids on Chevron’s Nigeria oil blocks due next week:

U.S.-based Chevron Corp will receive bids on Sept. 30 from prospective buyers of three oil blocks in the Niger Delta, with several local Nigerian firms in the running, industry sources told Reuters on Tuesday.

Oil industry sources estimate the mean value of the three blocks combined at $500 mln to…

Total set to lower investment as production increases:

Oil major Total says it expects to scale back on its investment programme from next year as oil and gas production closes in on previously set targets.

The company is also aiming to start up projects in Norway, Angola and the North Sea in the coming months.

Capital spending is expected…

UK pushes to ease sanctions on BP gas field:

UK government hopes to close deal for a sanctions waiver to restart production from North Sea’s Rhum field

The UK could be close to agreeing on a deal to ease sanctions that have stopped gas production from the Rhum field in the North Sea, which is jointly owned by supermajor…

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