market info

Market info

Exploration: Oil finds in Greater Edvard Grieg area


Westwood Global Energy reports that there were five active exploration wells and two active appraisal wells as of June 25. Since the last report, six wells have spudded and four have completed.

Market info

London stocks fall amid price fears


The London market tumbled this morning due to fears over low oil prices, though supermarket Tesco saw its shares surge after better-than-expected Christmas trading.

Oil & Gas

Technip promises revenue growth in 2015


Technip SA, France’s largest oil engineer, promised revenue and profit growth in 2015 even after the decline in crude prices forced the industry to cut capital spending. “For 2015, based on our record 21 billion-euro ($24 billion) backlog, we are able to give clear guidance for revenue and profit growth,” Chief Executive Officer Thierry Pilenko said. Fourth-quarter adjusted earnings before interest, tax, depreciation and amortization at the Paris-based company rose 21% to 319.2 million euros, beating the 280.2 million-euro average of six analyst estimates compiled by Bloomberg. Revenue advanced 14% to 2.82 billion euros.