by  Bloomberg Tsuyoshi Inajima Oil extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch. (Bloomberg) -- Oil extended losses after a surprise jump in American crude inventories alleviated concerns over a supply crunch, while the demand outlook remained bleak as there was no let up in U.S.-China tensions. …
Oil Drops
by  Bloomberg Sharon Cho Oil fell as an industry report signaling a jump in U.S. stockpiles eased concerns over a supply crunch. (Bloomberg) -- Oil fell as an industry report signaling a jump in U.S. stockpiles eased concerns over a supply crunch, after a drone attack in Saudi Arabia had highlighted the vulnerability of …
Eni hits gas in Akoma prospect offshore Ghana
Italian oil and gas company Eni has made a gas and condensate discovery in CTP-Block 4, offshore Ghana. Maersk Voyager; Source: Maersk DrillingThe well, drilled on the Akoma exploration prospect, proved an estimated volume between 550 and 650 bcf of gas and 18-20 mmbbl of condensate, Eni informed on Thursday. The discovery has further additional …
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US Drillers Drop Two Rigs
by  Valerie Jones Rigzone Staff The nation dropped two oil rigs this week, while the gas rig count remained flat. The U.S. dropped two oil rigs this week, according to weekly data from Baker Hughes, a GE Company. The gas rig count remained flat this week, making the nation’s overall total rig count 988. This …
Oxy Agrees to Buy Anadarko for $57B
by  Andreas Exarheas Rigzone Staff Occidental has entered into an agreement to buy Anadarko. Occidental Petroleum Corporation has entered into a definitive agreement to acquire Anadarko Petroleum Corporation. The deal, which is for $59 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock, is valued at $57 billion, including …
CHEVRON PASSES UP ANARDARKO PURCHASE
 By Fred Akanni, Editor in Chief Chevron Corporation will not take over Anadarko, after all. The American super major announced yesterday that, under the terms of its previously announced Merger Agreement with the company, it will not make a counter proposal and will allow the four-day match period to expire. “Accordingly, Chevron anticipates that …
Mozambique: Anadarko sets date for giant gas project sanction
U.S. oil firm Anadarko Petroleum expects to make the final investment decision for its Mozambique LNG project next month. A drillship offshore Mozambique / Image source: AnadarkoThe company, in takeover talks with Oxy after Chevron decided to pull out on Thursday, has said that the FID for the Mozambique project, designed to develop offshore gas deposits, would be …
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N. American Shale Oil Second Cheapest Oil Source
by  Valerie Jones Rigzone Staff| North American shale oil is the second cheapest source of new oil volumes globally, according to Rystad Energy. North American shale oil has become the second cheapest source of new oil volumes, according to research by Rystad Energy. In its latest cost of supply curve update, the energy research firm …
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Oil Shrugs Off US Tariff Spike
by  Bloomberg Alex Longley Oil pushed higher in early trading despite the U.S. imposition of higher tariffs on Chinese goods. (Bloomberg) -- Oil pushed higher despite the U.S. imposition of higher tariffs on Chinese goods, as rising tensions in Iran and elsewhere kept the supply outlook tight. Crude in New York advanced 0.3 percent, …
Oil Set for Second Weekly Loss
by  Bloomberg Heesu Lee Oil headed for its first back-to-back weekly loss this year. (Bloomberg) -- Oil headed for its first back-to-back weekly loss this year as swelling U.S. crude inventories and Russia’s failure to meet a targeted production cut eased fears of a looming supply crunch. Futures in New York edged lower Friday after …
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