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Share Price: 461.25
Bid: 461.25
Ask: 461.35
Change: 1.25 (0.27%)
Spread: 0.10 (0.022%)
Open: 459.95
High: 462.15
Low: 458.20
Prev. Close: 460.00
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Norway's oil investments to tumble on low oil price: oil directorate

Thu, 15th Jan 2015 09:17

OSLO, Jan 15 (Reuters) - Norwegian oil and gas investmentswill tumble this year and if oil prices stay below $60 perbarrel for an extended period, more projects could be calledoff, cutting investments further and lowering output, theNorwegian Petroleum Directorate said.

The NPD now sees investments falling 15 percent year on yearto 147 billion crowns ($19.1 billion) in 2015, well below itsprevious forecast for 180 billion crowns, and the figure wouldthen drop to 135 billion in 2017, it said in a statement onThursday.

"Total investments will decline by 21 per cent from 2014 to2017," the oil directorate said. "If the oil price should remainat USD 50-60 per barrel over time, this will result inadditional reductions in investments and exploration costs."

Norway's top oil producers include Statoil, Shell, ConocoPhillips, BP and Det norske. (Reporting by Balazs Koranyi, editing by Terje Solsvik)

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Poland's Orlen files Venture Global LNG arbitration case -Bloomberg News

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22 Dec 2023 19:54

More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

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22 Dec 2023 19:29

More ships carrying oil avoid Red Sea route

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22 Dec 2023 19:24

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday.

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22 Dec 2023 19:20

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday. (Reporting by Terje Solsvik, editing by Essi Lehto)

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22 Dec 2023 11:00

US offshore wind poised for success next year after turbulent 2023

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20 Dec 2023 18:16

US Gulf of Mexico oil auction is largest since 2015

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.

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20 Dec 2023 17:37

US Gulf of Mexico oil auction raises $382 million in high bids

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised more than $382 million on Wednesday, the highest total for a federal offshore oil and gas auction since 2015.

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20 Dec 2023 15:36

Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

LONDON, Dec 19 (Reuters) - Prices for Norway's Johan Sverdrup crude soared on Tuesday, a move traders said could be linked to mounting concerns around the security of crude flows into Europe following maritime attacks by Yemen's Houthis in the Red Sea.

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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