News Archive for: November 2015

Crude futures lost ground in early Asian trading on Monday, with US oil plunging more than 2%, pressured by a global supply surplus despite a cut in the number of US rigs for an eleventh week out of 12.US crude’s West Texas Intermediate January contract had dropped 91 cents,…

Oil futures inched up in early Asian trading on Friday, but remained near three-month lows after a persistent supply glut cut prices by up to 13% since the start of November.Front-month Brent futures for January had climbed 13 cents at $44.31 a barrel early on Friday, following the previous…

Probing one of its recent discoveries in deep waters of the Gulf of Mexico, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field, nearby three of its massive production facilities and a network of subsea pipes, the company said Wednesday.The one-year-old Kaikias discovery,…

Oil prices edged up on Wednesday following reports of falling stockpiles and rising refinery activity, but analysts said the market would remain under pressure for the rest of the year and into 2016.Industry group American Petroleum Institute (API) said on Tuesday that US crude stockpiles fell last week by…

The Norwegian Petroleum Directorate (NPD) has granted consent to start production on the Lundin Norway-operated Edvard Grieg field in production licence 338 in the North Sea.

Production start-up is scheduled in accordance with the Plan for Development and Operation (PDO). Development costs have increased slightly, but the increase is within…