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The price of Brent crude oil declined below $97 a barrel today amid weak Chinese industrial data and a strong US dollar.   According to Reuters, Brent for November delivery dropped 61 cents to $96.39 a barrel and US crude declined 72 cents to $92.82 a barrel.   The Chinese…
Cairn Energy has sold a 10% stake in its Catcher development in the North Sea and nearby fields to Dyas UK for approximately $182m.   Under the deal, Cairn will retain a 20% interest in the Catcher licence and trim down its capital expenses on the project from $380m to…
TGS has unveiled the initial two ocean bottom seismic surveys to be undertaken in the US Gulf of Mexico (GoM) under its recently signed collaboration agreement with FairfieldNodal.   The projects include the Calypso full azimuthal nodal (FAN) survey and the Nessie FAN survey.   Located in the Eugene Island…
French geoscience company CGG has signed an agreement with the Gabonese Ministry for an offshore multi-client survey programme.   The agreement with the Ministère du Pétrole et des Hydrocarbures of the Republic of Gabon will see CGG commence the first phase of a 35,000km² BroadSeis 3D programme in the fourth-quarter…
Brent crude futures remained above $97 a barrel today amid firm US economic data and steady China PMI.   However, due to ample supllies, oil remains on course for its deepest quarterly drop in more than two years.   Reuters reported that Brent for November delivery increased 8 cents to…
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