From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From Reuters Qatar Petroleum said on Monday it had agreed a deal with Total (TOTF.PA) to acquire a stake in the French energy giant’s two oil and gas blocks offshore Guyana. Qatar Petroleum said it will hold 40% of Total’s 25% participating interest in the Orinduik block, and 40 percent of Total’s 25% participating interest in the neighboring Kanuku. The
From Reuters French energy giant Total (TOTF.PA) will sell about $5 billion of assets, mostly from its exploration and production business as it sharpens its focus on low-breakeven projects that can weather weak oil prices, it said on Thursday. The announcement followed a 19% drop in second-quarter adjusted net profit to $2.9 billion, which it attributed to unfavorable market factors
From Reuters PARIS (Reuters) – France’s Total on Tuesday declared force majeure on the production of jet fuel at its Leuna refinery in Germany following the supply of contaminated crude from Russia. “We have declared Force Majeure on the jet fuel from the Leuna refinery,” a Total spokeswoman said. The spokeswoman said that due to ongoing problems with crude supply
EU, 3 nations reject Iran demands over nuclear deal, U.S. sanctions…
International producer Vermilion Energy Inc. (ticker: VET) increased production by 8% from Q3 2017, reaching an average of 72,821 BOEPD in Q4 2017. For Q4 2017, Vermilion Energy reported net earnings of $8.645 million, or $0.07 per share. This compares to a net loss of $4.032 million, or $(0.03) per share in Q4 2016. Vermilion’s 2017 annual production volumes increased
Global oil and gas operator Vermilion Energy (tickers: VET) holds producing acreage worldwide. The company’s assets are spread across three main regions: North America, Europe, and Australia. Its oil and gas assets are located in 10 countries. Vermilion’s focus on commodity diversification—oil and natural gas—creates stable cash flow and reduces the effect of volatility in individual commodity prices. European gas
Oil refinery strikers take their toll on French gas stations ahead of the European Soccer Championship A bill passed by French President Francois Hollande’s government that would make hiring and firing easier in France has met with strikes from French union CGT, whose members include oil refinery workers. Six of the eight major refineries in France are either completely shut
After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is
Cheniere signs five-year contract with France’s Engie Cheniere Energy (ticker: LNG) made an agreement this week to provide up to 12 cargoes of liquefied natural gas (LNG) to France’s Engie (ticker: ENGI) as part of a five-year contract starting in 2018. The cargoes will be delivered by ship at the Montoir-de-Bretagne regasification terminal in France from Cheniere’s Sabine Pas and
