News Archive for: November 2015

Premier Oil has sold its Norwegian business, Premier Oil Norge, to Det norske for $120million.

The firm confirmed it would funnel the funds back into repaying its debt.

Faltering oil prices has forced the firm to cut its spending by 25% this year.

A company spokesperson said the sell-off “represents another step…

Premier Oil is eyeing North Sea bargains as the firm promised first oil from its Solan field in time for Christmas.

Chief executive Tony Durrant said he was in a good position to acquire further assets in the North Sea as many fields remained on sale in this mature basin.

He…

The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers.

Exxon Mobil Corp. tops the list with a total of $320 billion for potential acquisitions. Chevron is next with $65 billion in cash and its own shares…

OPEC’s latest challenge to U.S. shale oil producers would be about two miles long, lined end to end, and weigh almost 3 million metric tons. It’s due to reach American ports this month.

Iraq, the fastest-growing producer within the 12-nation group, loaded as many as 10 tankers in the past…

Oil supply outside OPEC will cease growing by 2020 as spending cuts that started this year take their toll on the global industry, according to the International Energy Agency.Production growth from countries not part of the Organization of Petroleum Exporting Countries will slow over the next five years to…