Oil | Egypt Oil & Gas - Part 79
Abu Dhabi Eyeing 50% Increase in Offshore Rig Count
Abu Dhabi plans to invest over $25 billion in the next five years on boosting its oil production capacity from offshore fields, a senior official of Abu Dhabi National Oil Co said on Tuesday.
Oil Service Giant Halliburton Beats Earnings Estimates
Halliburton Co. beat analysts’ estimates and accelerated the pace of job cuts ahead of a planned $34.6 billion takeover of Baker Hughes Inc.
Brazil’s Petrobras Floundering
Buried off the coast of Brazil, beneath miles of seawater, rock and salt, lie vast oil reserves—at least 50 billion barrels—that were supposed to yield untold riches for this nation.
Anadarko Plans to Sell Mozambique Gas Assets to Exxon
Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique's giant gas reserves, with Exxon Mobil and Qatar Petroleum [QATPE.UL] both showing interest, banking and industry sources said.
US Shale Drillers Plan Strategy
American oil drillers, battered and bruised by the steep drop in crude prices, are descending on Houston this week to plan their survival.
European Refineries Profit Off Low Oil Prices
The biggest crude glut in the U.S. since the 1930s means one thing for European refiners: The highest margins in eight years won’t last.
Nigeria and Algeria Predict a Long Period of Low Oil Prices
Oil prices are likely to stay low for a long time after falling more than 40 percent in the past year, said officials from two OPEC nations.
Zangeneh Openly Interested in Drawing Italy’s Eni Back to Iran
Italy’s oil giant Eni said on Sunday it is interested in returning to Iran if sanctions against the country are lifted.
