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Statoil assessing offshore oil discovery 500 km northeast of St. John's, N.L.

The Canadian PressJune 19, 2013 08:03

ST. JOHN'S, N.L. - Statoil is evaluating a new discovery of high-quality oil off the coast of Newfoundland, about 500 kilometres northeast of St. John's, N.L., the Norwegian oil giant announced Wednesday. A Statoil spokesman says the latest oil discovery is very encouraging and contributes to its understanding of the area within the Flemish Pass Basin, where the company and its partner Husky Energy (TSX:HSE) have been exploring.

Norway gives 29 companies oil and gas licenses, mostly in Arctic region

The Canadian PressJune 12, 2013 13:30

OSLO - Norway has given companies new licenses to explore and drill for oil and gas off its coast, mainly in the Barents Sea in the Arctic region. The Ministry of Petroleum and Energy says 29 companies, including Shell, Total and Norway's Statoil, have been awarded 24 permits. Oil and Energy Minister Ola Borten Moe said Wednesday that the government was pleased with the "great interest" in recent years in the northern Norwegian waters.

EU officials investigate companies including BP, Shell, Statoil over possible price-fixing

The Canadian PressMay 14, 2013 14:01

LONDON - European anti-trust authorities have launched investigations into at least three oil companies on suspicion of price-fixing. Britain's BP, Royal Dutch Shell and Norway's Statoil confirmed they are subject to the inquiry announced Tuesday by the European Union's executive arm, the Commission. Statoil said a raid at its headquarters in Stavanger, Norway, was carried out with the assistance of Norwegian antitrust officials. Norway is not a member of the EU. BP and Shell offered no details, but said they were co-operating with authorities.

Norway's Statoil gives Noble Corp contract worth $655 million to drill in Mariner field

The Canadian PressMay 14, 2013 10:45

OSLO - Statoil says it has given Noble Corp. the contract to drill the Mariner oil field in a deal estimated at $655 million over four years. The Norwegian energy company says a new type of rig will enable it to operate at depths of 70 to 150 metres (230-500 feet) and drill wells down to 10,000 metres (32,000 feet). The announcement was made Tuesday on behalf of Statoil's partners in the field — JX Nippon Exploration and Production (U.K.) Ltd. and Cairn Energy PLC.

Pemex, Statoil sign cooperation agreement

Agencia EFEMay 3, 2013 16:00

Mexico City, May 3 (EFE).- Mexican state-owned oil monopoly Petroleos Mexicanos said Friday it has signed a five-year cooperation agreement with Norway's Statoil covering the areas of research, technical, scientific and technological development and training. "This non-commercial agreement ... will promote collaboration in areas of mutual interest, without implying any provision of service," Pemex said in a statement.

Statoil earnings disappoint on output and price falls

Agence France-PresseMay 2, 2013 07:45

Norwegian oil group Statoil announced Thursday a 58-percent plunge in its first quarter net profit, attributing the decline to falling production and oil prices. Net profit fell to 6.4 billion kroner (841.9 million euros, $1.1 billion) from 15.1 billion a year ago. The adjusted net profit, which is closely watched since it excludes financial items such as variations in the value of inventories, registered a more moderate decline of 28.6 percent to 12 billion kroner.

Production cuts, lower prices hit Norway's Statoil first-quarter profits and revenue

The Canadian PressMay 2, 2013 03:45

OSLO - Norwegian oil company Statoil ASA saw first-quarter net income plunge 60 per cent against the same period last year as production cuts, operational disruptions and reduced prices took their toll. Profit in January through March was 6.4 billion kroner ($1.1 billion) down from 15.4 billion kroner a year earlier, Statoil said Thursday. Revenue also fell in the quarter, by 17 per cent, to 162 billion kroner. The result sent the company's share price tumbling more than 3 per cent to 135.70 kroner in morning trading in Oslo.

Statoil announces large oil find in North Sea

Agence France-PresseApril 19, 2013 05:15

Norwegian oil group Statoil announced Friday the discovery of significant new oil resources in its Gullfaks licence in the Norwegian waters of the North Sea. Preliminary estimates indicate additional reserves of between 40 and 150 million recoverable barrels of oil equivalent, but the estimates are uncertain and the figure could in fact be higher, Statoil said. The Gullfaks licence hosts one of Norway's biggest oil fields, which has been in production since December 1986.

Statoil sells Mozambique stake to Japan's Inpex

Agence France-PresseApril 2, 2013 07:16

Norwegian oil group Statoil said Tuesday it had sold a 25 percent stake in an exploration licence off the coast of Mozambique to Japanese group Inpex. The financial details were not disclosed, but Statoil said it will retain a 40 percent stake in the licence, which concerns two blocks in the Rovuma basin and for which it will remain the operator. In addition to Statoil and Inpex, the partners in the licence are Britain's Tullow, with 25 percent, and the Mozambican state-owned company Empresa Nacional de Hidrocarbonetos, with 10 percent.

Statoil and ExxonMobil announce Tanzania gas find

Agence France-PresseMarch 18, 2013 08:15

Norwegian oil group Statoil Monday announced a large natural gas find with US partner ExxonMobil off Tanzania's coast, the third major discovery in a year by the two companies in the country. The Tangawizi-1 well contained between 712 million and 1.07 billion barrels of oil equivalent (boe), bringing the total reserves of the block in question to between 2.67 and 3.03 billion boe, the Oslo-based company said in a statement.