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News Archive for: September 2015

Oil set to cap weakest quarter since 2009 as glut seen expanding:

Oil is set for the lowest quarterly average price since the start of 2009 amid signs a glut of supplies is expanding in the world’s biggest consumer and OPEC producers are boosting output.

Futures lost as much as 1.2 percent New York after adding 1.8 percent Tuesday. U.S. inventories rose…

Oil steady after slide: Prices change little in early Asian trade:

Oil prices remained low in early Asian trading on Tuesday following a slide of almost 3% the previous session, dragged down as concerns over Asia’s economic health mounted and as production remained high.Brent crude futures were at $47.31 per barrel early on Tuesday, down $0.03 from their last close…

IOG step closer to Skipper drilling, UK North Sea:

Independent Oil and Gas plc (IOG) has made progress towards drilling the Skipper well, in the UK North Sea.

Namely, Alpha Petroleum has agreed to extend until December 7, 2015 the date for satisfaction of the conditions precedent relating to the acquisition by IOG of for the remaining 50% of…

Oil regains some ground: Prices rise in early trade following steep falls in the previous session:

Oil prices pared some losses on Thursday after sharp falls overnight on an unexpectedly large buildup in US gasoline stocks and seasonally tepid demand.The global benchmark November Brent contract had climbed 44 cents to $48.19 a barrel early on Thursday, after ending the previous session down $1.33 at $47.75…

Oil expert warns North Sea cuts may not be enough to encourage investors:

Pressure has mounted on the Treasury to introduce further tax breaks for the oil and gas industry as new research reveals that cost-cutting may not be enough to ensure the North Sea is attractive to investors.

Research led by renowned petroleum economist Professor Alex Kemp has found that even if…

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