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Production

Statoil has agreed to sell several of its Norwegian oil and gas assets to Wintershall for $1.3bn.   The company will sell stakes in four fields, exiting two completely, and divest part of the Polarled pipeline.   As part of the deal, Wintershall will acquire a 24% stake in the…
The price of Brent crude oil traded below $97 per barrel on Monday amid weak Chinese economic data.   Reuters reported that October Brent declined to as low as $96.21 a barrel while US crude was down $1.00 at $91.27.   The news agency said the factory output growth in…
The price of Brent crude traded at just below $98 a barrel on Tuesday, recovering from its decline to a two-year low; however, the price was capped by soft demand and weak economic data.   Reuters reported that November Brent fell down 17 cents to $97.71 a barrel while US…
The price of Brent crude oil has steadied at $99 per barrel on Wednesday on expectations that the Organization of the Petroleum Exporting Countries (OPEC) may cut the 2015 output.   Reuters reported that Brent declined 25 cents to $98.80 a barrel and US crude was down 25 cents to…
Netherlands-based SBM Offshore has secured a contract to work with Noble Energy in the US Gulf of Mexico (GoM) at the Big Bend and Dantzler fields.   SBM signed a $400m production handling agreement (PHA) with Noble Energy to produce the two fields to the Thunder Hawk DeepDraft Semi located…
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