Scotland’s budget deficit would narrow by almost a half with a geographical share of North Sea oil revenue, putting the country’s finances in line with the rest of the U.K., official figures published today showed.
Crimea’s hastily organized vote this weekend on whether to leave Ukraine to join Russia is threatening Black Sea oil and natural gas drilling prospects coveted by Exxon Mobil Corp. and Eni SpA.
U.K. factory production rose more than forecast in January, adding to evidence of what Bank of England Governor Mark Carney said is a broadening recovery.
Total SA, Europe’s third-largest oil producer, plans to sell a stake in Norway’s Gina Krog field development as it scales back spending, RS Platou Markets said.
Hedge funds and other money managers raised bullish bets on Brent crude to the highest level in more than four months, data from ICE Futures Europe show.
Enbridge Inc., Canada’s largest pipeline owner, won regulatory approval to reverse and expand a portion of its Line 9 system, allowing for more shipments of western crude oil to refineries in Quebec.
Faroe Petroleum Plc, a U.K. oil and gas explorer focused on the North Sea, rose the most in 2 1/2 years after a discovery off Norway.
The following is a selection of the most important news affecting the oil market.
The head of Royal Dutch Shell Plc said the U.K.’s largest oil producer wants Scotland to vote no in this year’s independence referendum, echoing comments made by his counterpart at BP Plc.
Canadian Natural Resources Ltd. is about to play catch-up on dividends.