Equinor expects a decrease in storages and a rise in gas prices next year.
The CEO of Norwegian oil-and-gas producer Equinor stated on Thursday that European gas prices continue to be under pressure because of the rising demand for gas in Asia, and due to concerns about future supplies of Russian gas and LNG. The weather and temperature will determine the demand for European products. "A normal or cold winter would put upward pressure on the prices…
Equinor Sells Eagle Ford Asset for $325 Mln
Norwegan energy company Equinor said it has signed an agreement to divest to Repsol its 63% interest in, and operatorship of, its onshore business in the Eagle Ford in the US state of Texas.The transaction is effective October 1, 2019, and covers all of Equinor’s interests in the Eagle Ford Joint Venture with Repsol, covering 69 000 net acres.
Changes in Statoil's Top Deck
Statoil said on Friday it had expanded its leadership team and changed its corporate structure to reflect the company's increased focus on Brazil.Statoil's Brazilian operations will become a separate business unit headed by Margareth Oevrum, the company's current head of technology, project and drilling.Meanwhile, its separate U.S. business…
Statoil: Room to Grow North Dakota's Bakken
Statoil ASA, the Norwegian state-controlled oil producer, has plenty of growth opportunities left in North Dakota's Bakken shale formation, an executive said on Tuesday. "We have quite a lot of running room" in North Dakota, Torgrim Reitan, head of Statoil's U.S. operations, said in an interview on the sidelines of CERAWeek in Houston, one of the world's largest gathering of energy executives.
Statoil's US Operations Have Turned the Corner
Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday. "As oil prices increase there is a significant potential for both earnings and cash flow here, and at (WTI) $70 a barrel oil, the U.S.
Harvey Could Pinch Gulf Coast Energy Projects
Oil and petrochemical plants along the U.S. Gulf Coast intend to go ahead with plans for near record spending on expansions next year, despite Hurricane Harvey driving up labor costs and slowing work, experts said. Harvey largely spared oil and petrochemical plants along the U.S. Gulf Coast from significant damage but thousands of homes and businesses were not as fortunate.
Statoil Optimizes its US Onshore Portfolio
Statoil has agreed to further sell its non-core assets in its US onshore portfolio, the third in the southern Marcellus in the last two years. In the latest transaction, Statoil will divest some of its non-operated interests in the US state of West Virginia to Antero Resources Corporation (“Antero”) for approximately USD 96 million in cash.
Statoil: 2015 Capex Reduction if FX Persists
Statoil's Chief Financial Officer Torgrim Reitan said on Tuesday the Norwegian oil giant could reduce further its capital expenditures (Capex) this year should the current foreign exchange rate of the crown to the dollar remain. The company earlier reduced its Capex target for 2015 to $17.5 billion from $18 billion. Reitan said that reduction…
Statoil 2Q 2015 Earnings Slip
Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. "In the second quarter, Statoil delivered encouraging operational performance with good production growth and high regularity, whilst continuing to reduce cost.
Statoil Appoints Hutton
Peter Hutton has been appointed senior vice president CFO investor relations and will report to chief financial officer Torgrim Reitan. Hutton is currently director of oil and gas research in RBC Capital Markets London, and has broad international experience from the oil and gas industry. He has spent 12 years in the oil and gas industry and 16 years within the financial industry.
Statoil Planning Asset Sales
Norwegian oil and gas firm Statoil is working on several potential deals to sell assets to reduce capital commitments and realise investment profits, business daily Dagens Naeringsliv reported on Wednesday, quoting an internal memo. State-controlled Statoil this year slashed growth plans to save cash after years of sharp spending increases…
Statoil awards contracts for support services within HR
Statoil has decided to outsource certain tasks within the Human Resources (HR) function, and awards two new contracts to external suppliers. The number of full time positions in Statoil in Norway that will be affected is 69, in addition to 10 positions internationally. Around 2/3 of affected employees will be offered employment with the new vendors, either through transfer of undertakings or offer of employment.
