Posts Tagged ‘frontpage’

Brent nears $111 on uptick in China economy

by on November 22, 2012 5:02 am BST
China's vast manufacturing sector saw expansion accelerate in November for the first time in 13 months, while a lower than expected drop in US oil inventory also boosted crude prices, Reuters stated.However, supply risks diminished after Israel and the Islamist Hamas movement agreed on Wednesday to an Egyptian-sponsored ceasefire

Ivanhoe Energy sells China block to MIE for $45m

by on November 21, 2012 3:52 pm BST
Hong Kong-listed MIE, which holds assets in China, the United States and Kazakhstan, will gain 100% of the foreign contractor's rights at Petrochina’s Dagang production sharing contract in Hebei province, eastern China under the deal.The block held 2.5 million barrels of proven and probable reserves as of 31 December 2011, according

Fred Olsen scraps rig option

by on November 21, 2012 3:49 pm BST
It follows a recent award from Chevron of a five-year contract worth more than $1 billion for the first newbuild, the semi-submersible Bollsta Dolphin, to be used on drilling of development wells at the US supermajor’s Rosebank project West of Shetland. The semisub is being built at the

Statoil spuds Johan Sverdrup appraisal

by on November 21, 2012 12:17 pm BST
The Ocean Vanguard semi-submersible is drilling well 16/2-15 on production licence 265 to a planned total depth of around 2000 metres over the next 50 days, junior partner Lundin Petroleum said.The Ocean Vanguard has just completed drilling 16/2-14 T2 where it hit “very good results” with a 30-metre oil column.Statoil is the