U.S. Climate Bill Exempts most of Oil Industry from Methane Fees
The U.S. Senate climate bill’s fee on oil and gas industry methane emissions will cover less than half the sector’s releases of the powerful greenhouse gas, thanks to concessions made to win over party holdout Joe Manchin, according…
Lekoil Acquires Interest in Niger Delta Basin
Nigeria and West Africa-focused oil and gas exploration and development company Lekoil has agreed to acquire, subject to the receipt of the required consents, a 45% participating interest in the production sharing contract (PSC)…
DONG Energy Settles Platform Dispute
DONG Energy said it has reached a settlement with Daewoo Shipbuilding & Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement…
Nigeria Needs Billions in New Investment to Raise Oil Output
Nigeria needs at least $14 billion a year in new investment over the next five years to raise oil output to 2.2 million barrels a day (bpd) and even higher spending to lift it to 3 million bpd, the head of a company producing oil in the country said.
Green Groups Ponder Hillary Clinton's Oil Ties
Hillary Clinton's connections to oil and gas interests has created a dilemma for some environmental groups, troubling activists for whom she would be the natural candidate to support for president. The presumptive Democratic…
US Wells Shuttered as Prices Better Small Producers
Collapsing crude prices are confronting scores of smaller U.S. oil producers with the grim choice of either shutting older high-cost wells or burning through cash in the hope of riding out the downturn. As oil prices fell by…
Small Oil Firms Hunt for Cash as Crude Slump Shuts IPO Door
Slumping oil prices are shutting the door to stock market listings for small oil and gas firms, forcing many to tap more costly forms of financing or to shelve projects and wait for better times. Initial public offerings (IPOs)…
RAK Petroleum Plans IPO on Oslo Bors
RAK Petroleum, an energy investment company based in the United Arab Emirates, plans to launch an initial public offering (IPO) and apply for a listing on Norway's Oslo Bors, the company said on Monday. The firm said it would…
