Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Norway awards 69 oil and gas exploration blocks

Tue, 14th Jan 2020 12:12

(Adds company names, quote, detail)

By Nerijus Adomaitis

SANDEFJORD, Norway, Jan 14 (Reuters) - The Norwegian
government has awarded 28 oil and gas companies a total of 69
offshore blocks to explore for petroleum in mature areas of its
continental shelf, the Norwegian Petroleum Directorate said on
Tuesday.

Shell, ConocoPhillips, Total and
Equinor won blocks, as did DNO, Aker BP
, Lundin Petroleum and Eni's Vaar
Energi.

Private-equity backed firms, such as Chrysoar, which
acquired ConocoPhillips assets in the British North Sea last
year, and Neptune Energy received stakes in eight and 13 blocks
respectively.

Russia's Lukoil, which holds stakes in two
licences, and wholly-owned Rosneft subsidiary RN
Nordic, a previous licenceholder, were not awarded any blocks. A
ministry spokesman declined to comment on why.

The annual predefined areas (APA) licensing round covers
blocks adjacent to acreage previously explored or developed, as
opposed to licensing rounds in the country's frontier areas.

Thirty-three oil companies had submitted bids by a September
deadline for a total of 90 offshore exploration blocks,
including 48 in the Arctic Barents Sea.

The number of final awards depends on a range of factors,
including Norway's requirement that each licence must have
several owners.

Of this year's 69 licences, 33 were in the North Sea off
southern Norway, 23 were in the Norwegian Sea off central and
northern Norway and 13 were in the far-north Barents Sea.

Norway's oil and gas output is expected to rise sharply in
the next several years as recent large discoveries come on
stream, and authorities are keen to extend the lifespan of the
oil and gas industry for decades to come.

"Hopefully, the exploration in the awarded acreage will
result in new discoveries," Oil and Energy Minister Sylvi
Listhaug told an industry conference in south-east Norway.

"This is important to ensure employment, value-creation and
future government revenue for Norway's largest industry."

Separate from the APA awards, Norway also conducts so-called
numbered licensing rounds, which include frontier parts of the
Norwegian continental shelf, where exploration is more risky,
but where large finds could be made.

The government aims to announce the next numbered licensing
round before Norway's 2021 general election, but must first
agree an updated plan on areas to exempt due to environmental
concerns, particularly in the Arctic.

The Norwegian Petroleum Directorate (NPD) estimates that
two-thirds of Norway's undiscovered oil and gas resources are in
the Barents Sea, but exploration there has been disappointing in
the last few years.
(Writing by Nerijus Adomaitis and Terje Solsvik; Editing by
Gwladys Fouche and Jan Harvey)

More News
16 Dec 2021 22:13

UPDATE 3-Royal Dutch Shell confirms delay in sale of Texas refinery to Mexico's Pemex

(Adds bakground from Pemex source)By Stefanie Eschenbacher and Erwin SebaMEXICO CITY/HOUSTON, Dec 16 (Reuters) - Royal Dutch Shell on Thursday confirmed a Reuters report that the sale of its controlling interest in a Texas refinery to Mexican state...

Read more
16 Dec 2021 22:13

UPDATE 2-Royal Dutch Shell confirms delay in sale of Texas refinery to Mexico's Pemex

(Adds approval expected by Jan. 13)By Stefanie Eschenbacher and Erwin SebaMEXICO CITY/HOUSTON, Dec 16 (Reuters) - Royal Dutch Shell on Thursday confirmed a Reuters report that the sale of its controlling interest in a Texas refinery to Mexican stat...

Read more
16 Dec 2021 14:42

Latin American oil auctions kick off after two-year lull

* 11 firms registered to bid in Brazil's auction on Friday* Competition expected to be fiercest since 2018* Seven Latin American nations to hold auctions in 2022-2023By Marianna Parraga and Sabrina ValleHOUSTON, Dec 16 (Reuters) - Latin America's oil...

Read more
15 Dec 2021 12:16

Five companies seek to develop CO2 storage off Norway

OSLO, Dec 15 (Reuters) - Five companies have applied to build carbon dioxide (CO2) storage on the Norwegian continental shelf, the country's oil and energy ministry said on Wednesday.The ministry proposed in September two offshore areas, one in th...

Read more
15 Dec 2021 10:10

UPDATE 2-FTSE dips as inflation surges to 10-year high

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* IAG down on plans to cancel Air Europa acquisition* Rentokil falls for second day on M&A plans* Inflation jumped to 5.1% in Nov vs. 4.2% in...

Read more
15 Dec 2021 09:33

LONDON BROKER RATINGS: BofA starts Pod Point at Buy; Barclays cuts DCC

LONDON BROKER RATINGS: BofA starts Pod Point at Buy; Barclays cuts DCC

Read more
14 Dec 2021 09:40

LONDON BROKER RATINGS: JPMorgan raises Experian, cuts BAE Systems

LONDON BROKER RATINGS: JPMorgan raises Experian, cuts BAE Systems

Read more
13 Dec 2021 16:10

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
13 Dec 2021 11:48

Brazil's oil regulator approves Mero oilfield production agreement

SAO PAULO, Dec 13 (Reuters) - Brazilian state-run oil company Petrobras said on Monday that the country's oil regulator ANP has approved a production agreement for the Mero oilfield, deciding on which stake of its oil and gas output will be hold ...

Read more
13 Dec 2021 10:16

UPDATE 2-Energy, bank stocks drag London's FTSE 100; Omicron fears weigh

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Purplebricks plunges after delaying results* SThree drops as CEO steps down* FTSE 100 down 0.8%, FTSE 250 off 1.2% (Updates to close)By Ba...

Read more
13 Dec 2021 07:22

Qatar Energy acquires 17% stake in Shell-operated concessions in Egypt

DUBAI, Dec 13 (Reuters) - Qatar Energy will acquire a 17% stake in two Shell-operated concessions (Block 3 and Block 4) in Egypt's Red Sea region, Shell Egypt said on Monday.Shell will remain the main operator of the concessions, Shell Egypt's st...

Read more
12 Dec 2021 14:00

Activist group targets Exxon with shareholder climate resolution

* Follow This targets Exxon for first time* Dutch group also targets other energy companiesBy Ron Bousso and Sabrina ValleLONDON, Dec 12 (Reuters) - Climate activist group Follow This targeted Exxon Mobil Corp with a shareholder resolution urging i...

Read more
10 Dec 2021 23:26

UPDATE 1-Shell restarting Louisiana refinery crude unit after repairs from Hurricane Ida -sources

(Adds no reply from company)HOUSTON, Dec 10 (Reuters) - Royal Dutch Shell Plc was restarting on Friday the crude distillation unit (CDU) at its 230,811 barrel-per-day (bpd) Norco, Louisiana, refinery after completing repairs from Hurricane Ida, sa...

Read more
10 Dec 2021 20:44

Shell restarting Louisiana refinery crude unit after repairs from Hurricane Ida -sources

HOUSTON, Dec 10 (Reuters) - Royal Dutch Shell Plc was restarting on Friday the crude distillation unit (CDU) at its 230,811 barrel-per-day (bpd) Norco, Louisiana, refinery after completing repairs from Hurricane Ida, said sources familiar with pl...

Read more
10 Dec 2021 16:57

Can we still be friends? Shell sends Dutch PM parting note

By Toby SterlingAMSTERDAM, Dec 10 (Reuters) - On the day that shareholders of Royal Dutch Shell PLC voted to move the company's headquarters to London https://www.reuters.com/markets/europe/royal-dutch-shell-plc-shareholders-set-approve-move-london...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.