Americas
Wednesday, 03 October 2012 13:55
354
PARIS: Brazil's state-owned energy giant Petrobas is close to selling most of its assets in the Gulf of Mexico worth up to $6 billion to reduce debt, the company's chief executive told the Financial Times on Wednesday.
Chief executive Maria das Gracas Foster said that company planned to complete the sale by early next year of up to $6 billion (4.6 billion euros) of its $8 billion exploration assets in the Gulf of Mexico, as the company enacts a cost-cutting programme and seeks to raise $14.5 billion via asset sales.
Copyright AFP (Agence France-Presse), 2012 ...
NEW YORK; US crude futures fell on Tuesday in choppy, light-volume, trading as concerns about slowing economic growth and curbed demand for petroleum weighed on oil prices and countered supportive concerns about the risk of supply disruptions.
Falling RBOB gasoline futures settled 1.74 percent lower and provided additional pressure on crude futures.
Copyright Reuters, 2012 ...
NEW YORK: US oil prices pushed higher Monday after a key US manufacturing activity indicator showed growth in September after three months of contraction.
But dull readings elsewhere kept a cap on any gains, as the market overall moved sideways in trade on the first day of the year's fourth quarter.
The New York benchmark, West Texas Intermediate crude for November delivery, closed at $92.48 a barrel, up 29 cents from Friday.
In London, Brent North Sea crude ...
NEW YORK: US natural gas futures were higher on Monday for the fifth straight day, with Northeast and Midwest forecasts calling for cool weather for later this week and next week driving the front contract to a new high for the year.
Despite prospects for some early heating load, many traders and analysts remained skeptical of the upside with storage and production still at or near record highs.
Concerns also are growing that as gas prices push ...
RIO DE JANEIRO: Petrobras' oil and natural gas output fell to its lowest level in 22 months in August, slipping 0.3 percent from July to an average 2.54 million barrels a day from fields in Brazil and abroad, the company said in a statement on Friday.
Crude oil output in Brazil, the company's principal source of production, fell to an average of 2.07 million barrels a day in the month, its lowest in three and a ...
NEW YORK: Crude oil prices rose on Friday, with Brent gaining nearly 15 percent in the third quarter, while expiring front-month US gasoline futures rocketed late to rally 19 cents a gallon.
Brent and US crude price trajectories were choppy in end-of-quarter trading as uncertainty about Spain's economy ahead of a ratings agency review weighed on the euro and stock markets after oil and equities rallied in the previous session on Spain's budget reforms.
Brent rebounded to ...
NEW YORK: Energy producers this week trimmed the number of US rigs drilling for natural gas to another 13-year low as relatively low gas prices continued to squeeze profits and force some to shift operations to more profitable oil and gas liquids wells.
The gas-directed rig count slid this week by 19 to 435, the fourth drop in the last five weeks and the lowest since June 1999, data from Houston oil services firm Baker Hughes ...
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