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2014-09-15 18:00:00

STATOIL SELLS $1.25 BLN

STATOIL SELLS $1.25 BLN

Statoil has sold a further tranche of North Sea oil and gas assets to Wintershall for $1.25bn, extending the interests of the German energy group in Norwegian waters.

The state-backed Norwegian oil operator is to sell its minority stakes in two producing fields northwest of Bergen, helping raise Wintershall's production off the country's coast from 40,000 to 60,000 barrels of oil equivalent per day.

The key element of the deal, however, is the move by the energy arm of the German industrial group BASF to acquire stakes in Statoil fields further to the north that will require several billions of dollars to develop.

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Tags: STATOIL, WINTERSHALL, OIL, GAS
Chronicle:
STATOIL SELLS $1.25 BLN
2019, July, 12, 07:50:00
SAUDI ARAMCO, MCDERMOTT CONTRACT $4.5 BLN
McDermott has won two engineering, procurement, construction and installation (EPCI) contracts from Saudi Aramco worth more than $4.5bn for the Marjan Increment Programme.
STATOIL SELLS $1.25 BLN
2019, July, 12, 07:45:00
SAUDI ARAMCO, SAIPEM CONTRACT $3.5 BLN
As part of its larger increment programmes for Marjan and Berri, Saudi Aramco has awarded Saipem two EPCI contracts worth more than $3.5bn.
STATOIL SELLS $1.25 BLN
2019, July, 12, 07:40:00
LNG PRICE: NEAR $4.5
Spot prices for August delivery to Northeast Asia are estimated to be about $4.40 per million British thermal units (mmBtu), up 10 cents from last week, trade sources said.
STATOIL SELLS $1.25 BLN
2019, July, 10, 12:55:00
OIL PRICE: NEAR $65 AGAIN
WTI had climbed 93 cents, or 1.6%, to $58.76, having earlier risen to $58.84. Brent was up 70 cents, or 1.1%, at $64.86, after earlier touching $64.95.
STATOIL SELLS $1.25 BLN
2019, July, 10, 12:50:00
OIL PRICES 2019-20: $67 ANEW
The Energy Information Administration (EIA) forecasts Brent spot prices will average $67/b in the second half of 2019 and remain at that level in 2020. EIA expects West Texas Intermediate (WTI) crude oil prices will average $62/b in the second half of 2019 and $63/b in 2020.
STATOIL SELLS $1.25 BLN
2019, July, 10, 12:45:00
IRREVERSIBLE CLIMATE CHANGE
“The clock is ticking on irreversible climate change,” Adam Matthews, co-chair of the Transition Pathway Initiative (TPI) and the director of ethics and engagement at the Church of England Pensions Board, said in a statement.
STATOIL SELLS $1.25 BLN
2019, July, 10, 12:40:00
CHEVRON, QATAR DEAL $8 BLN
Chevron Phillips Chemical, a joint venture of Chevron and Phillips 66, will be the majority owner with a 51 percent share, with Qatar Petroleum owning 49 percent of the project. The companies expect a final investment decision no later than 2021 for the project, which has a target of starting in 2024.
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