Oil

Significant Gullfaks discovery Statoil (OSE:STL, NYSE:STO) and partner Petoro have proven considerable additional resources in the Shetland Group/Lista Formation in the Gullfaks licence. 22/4/2013
Barclays on Brent Crude Oil: Prices not to acclimatise below $100/bbl mark past Q2 While Barclays do not rule out further weakness for the Brent crude oil prompt month contract in the near term, they do not see prices acclimatising below the $100/bbl mark past Q2. 19/4/2013
Noble Corporation Awarded Contracts for Two Ultra-Deepwater Drillships Noble Corporation yesterday announced that the Company has entered into two (2) three-year term drilling contracts with Plains Exploration & Production Company (NYSE:PXP) for the Noble Sam Croft and the Noble Tom Madden, two of Noble's new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea. 19/4/2013
OGX Reports 27% Drop in Oil Offshore Production in March Compounding the problems of Brazilian billionaire Eike Batista, his oil company, OGX Petroleo e Gas Participacoes SA said it's now facing operating problems at its only producing oil field, which led to a slump in production in March. 18/4/2013
Oil price fall shows market sufficiently supplied -IEA The fall in oil prices from this year's high since mid-February shows that the market is sufficiently supplied, said Maria van der Hoeven, executive director of the International Energy Agency, adding that the slide may help the global economy. 18/4/2013
IMF revises 2013 oil price forecast up $2.89 to $102.60/b The International Monetary Fund has revised its 2013 oil price forecast upward by $2.89 to $102.60/barrel and expects an average of $97.58/b in 2014. 17/4/2013
Chinese oil demand slips to 7-mth low in March China's implied oil demand fell to its lowest in seven months in March, dented as big consumers held off from buying in anticipation of a cut in prices, while refiners scaled back crude runs and raised exports to trim high fuel stocks. 16/4/2013
Citigroup raises 2013 oil, natgas price forecasts, cuts bullion Citigroup raised its 2013 forecasts for Brent and US WTI crude oil prices, citing better-than-expected crude prices in the first quarter. The bank raised its 2013 price outlook for, both Brent and WTI by $5, to $104 and $90 per barrel, respectively. 16/4/2013
Gulf OPEC oil producers see no need to trim output Gulf Arab OPEC oil producers do not see the need to change production levels to support crude prices, OPEC delegates said after benchmark Brent touched nine-month lows. 16/4/2013
Eni awarded new exploration area in the Timor Sea Eni has been awarded a new exploration Production Sharing Contract (“PSC‘) covering an area of 662 sqkm adjacent to the offshore Kitan field, in the Timor Sea. 15/4/2013

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