Reuters reported that shares in Total SA (NYSE:TOT) rose more than two percent on the news that the company had plugged a well at its North Sea Elgin platform that had been leaking for seven weeks.
Articles Tagged "north sea"
Bloomberg reported that yesterday Total SA (NYSE:TOT) stopped a gas leak in Nigeria and this week expects to halt a leak in the North Sea that began on March 25. There is not yet a date for when operations in Nigeria will restart.
Antrim Energy Inc. (TSX:AEN,AIM:AEY) announced drilling results from a sidetrack well in the North Sea next to the Erne discovery.
A significant find by home-grown Statoil could provide a spark for the flagging Norwegian oil industry.
The oil market is bubbling over. Volatile at the best of times, the last year has been extraordinary even by those standards. When the price of crude came close to $150 a barrel, many thought the commodity was overpriced. And yet, some analysts are forecasting $200 a barrel before long. On Thursday, crude prices hovered above $61 a barrel in Asia after a more positive economic outlook from the U.S. central bank buoyed investor confidence. The Fed said industrial companies cut production far less in June than they had in previous months and that it now expects the economy to contract at a slower pace than previously thought.