Title : The Market And Energy Page, T+222 -- August 30, 2017
link : The Market And Energy Page, T+222 -- August 30, 2017
The Market And Energy Page, T+222 -- August 30, 2017
Oh-oh: Norway's Arctic oil ambitions suffer as most promising well is a dud. From Reuters:Norway's hope of discovering a large oilfield in the Barents Sea has suffered a major setback after the far north Arctic's most promising reservoir turned out to contain only small amounts of natural gas.
Statoil, the country's top oil and gas producer, has stepped up drilling in the Barents Sea this year as the government seeks to attract more explorers to its Arctic waters to make up for declining North Sea output.
But Statoil said on Tuesday that after drilling the northernmost exploration well in the highly anticipated Korpfjell prospect it had found only non-commercial quantities of gas and no oil.
Korpfjell was the first exploration well drilled in the Norwegian section of a formerly disputed area between Norway and Russia, where Statoil and its partners had hoped to make a major discovery.On the ropes: Russia's Gazprom 2Q17 net income drops 80% y-o-y; misses forecast. From Reuters.
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