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Azeri energy firm SOCAR to resume drilling at Umid gas deposit

BAKU, March 11 (Reuters) - Azerbaijan state energy company SOCAR plans to resume drilling at the Umid gas deposit in the Caspian Sea this week, SOCAR's first vice-president said. SOCAR had halted drilling at Umid in October and issued a tender for the joint exploration of Umid and Babek, tw

European ports set to lose LNG supply to Egypt this summer

MILAN, March 11 (Reuters) - Europe is likely to attract fewer liquefied natural gas (LNG) shipments than previously expected this summer as Egypt gears up to become the region's top-paying importer, traders said, potentially increasing gas prices in northwest Europe. While analysts still ex

UPDATE 1-Azerbaijan's oil output seen down 4 pct in 2015

(Adds details, background) BAKU, March 11 (Reuters) - Azerbaijan is likely to cut oil production by 4 percent to 40.3 million tonnes (806,000 barrels per day) this year while keeping gas output unchanged, a senior official at the state energy company SOCAR said on Wednesday. "So far,

Azerbaijan's oil output seen down 4 pct in 2015

BAKU, March 11 (Reuters) - Azerbaijan is likely to cut its oil production by 4 percent to 40.3 million tonnes (806,000 barrels per day) this year while keeping its gas production unchanged, a senior official at state energy company SOCAR said on Wednesday. "So far, we expect the same volume

RPT-UPDATE 1-Exxon, Shell's spending patterns may help them through oil price drop

(Repeats March 10 story with no change to text) * Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry

UPDATE 1-Exxon, Shell's spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls (Adds link to graphic) By Ron Bousso and Dmitry Zhdannikov LONDON, Marc

MARKET COMMENT: London Resources Stocks Plunge On Weak Commodities

London close: FTSE plunges 2.5% to seven-week low as commodity stocks tank

A stronger US dollar and falling commodity prices led to a rout in the heavyweight energy and mining sectors on Tuesday, pushing the FTSE 100 down 2.5% to its lowest level in seven weeks. The Footsie ended the day down 173.63 points at 6,702.84, with ongoing concerns about Greece further weighing on

Exxon, Shell's spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry Zhdannikov LONDON, March 10 (Reuters) - The worl

Sector movers: Energy stocks hammered as crude falls, risk appetite declines

Every sector on London's stock market was either flat or trading in the red on Tuesday afternoon, with energy stocks bearing the brunt of the sell-off as risk appetite collapsed. "Rising share prices are few and far between on the FTSE 100 this afternoon, thanks to a heady cocktail of worries that h

North Sea's Hound Point VLCC jetty to shut for maintenance in May-BP

LONDON, March 10 (Reuters) - Hound Point's Jetty 1 in the North Sea will close for maintenance from May 6 to June 8, a spokeswoman for the operator BP said on Tuesday, preventing VLCC loadings. Hound Point's Jetty 1 is the key loading berth for very large crude carriers (VLCCs) departing wi

UK WINNERS & LOSERS: Oil Stocks, Gold Miners Hit By Price Weakness

UPDATE 1-Kuwait plans 2015 tender for oil service deals

(Adds quotes, details) By Rania El Gamal and Reem Shamseddine MANAMA, March 9 (Reuters) - Kuwait Oil Company (KOC) plans to tender this year for oilfield enhanced technical service agreements, the chief executive of the state-run company said on Monday. "We are in the process of

Azerbaijan's SOCAR seeks company to check feasibility of Albania gas project

BAKU, March 9 (Reuters) - Azerbaijan state energy company SOCAR plans to announce a tender to find a company to conduct a feasibility study on Albania's gas infrastructure plan as part of European efforts to reduce dependence on gas from Russia. Albania and Azerbaijan signed a preliminary a

BP Makes 2nd Gas Discovery In Damietta Offshore Concession In Egypt