Royal Dutch Shell is reportedly seeking buyers for its North Sea assets following the merger with BG. The oil company intends to raise $30 billion from the sale of its global assets in order to balance the BG merger expenses.
Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.
The US government has finally given Royal Dutch Shell permission to pursue their oil exploration in the Arctic Ocean near Alaska. For more than 20 years, exploratory drilling allowed in the northwest coast of Alaska.
Collapsing oil prices are prompting energy firms to lay off workers. Royal Dutch Shell and Centrica -- two of Britain's leading energy firms -- are cutting more than 12,000 jobs this year.
A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic, saying the region has a severely limited capacity to respond to accidents.
Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups.
“Downing Street has discreetly let it be known in the City that it would oppose any takeover of BP,” the Financial Times reported on Sunday.
Royal Dutch Shell (RDSa.L) agreed to buy smaller rival BG Group (BG.L) for 47 billion pounds ($70 billion) in the first major energy industry merger in more than a decade, closing the gap on market leader U.S. Exxon Mobil (XOM.N) after a plunge in prices.
Global stocks remained upbeat on Wednesday as a $70 billion mega-deal in the European oil and gas sector stoked the merger and acquisition fever that has gripped investors this week.
Trafigura [TRAFGF.UL] is emerging as the new king of Russian oil trading, expanding its deal with sanctions-hit Rosneft to export $500 million worth of crude in April from the Baltic, the Mediterranean and Pacific ports, market sources said.
Oil rose above $60 a barrel on Friday for the first time this year, bringing its gain this week to almost 4 percent, supported by signs that deeper industry spending cuts may curb excess supply.
Royal Dutch Shell will pay out 55 million pounds ($83.4 million) in compensation for two oil spills in Nigeria in 2008 after agreeing a settlement with the affected community.
Shell Midstream Partners LP IPO-SHLX.N, a master limited partnership formed by Royal Dutch Shell Plc (RDSa.L), priced its enlarged initial public offering of 40 million units at $23 per unit, above its expected price range of $19-$21 per unit.
Tanzania has held talks with France's Total (TOTF.PA) and Britain's BP (BP.L) over oil and gas exploration, its energy ministry said on Saturday, aiming to add to major companies active in its thriving energy sector.
Exxon Mobil said on Friday it will wind down drilling in Russia's Arctic in the face of U.S. sanctions targeting Western cooperation with Moscow's oil sector, after the Obama administration granted a brief extension to safely mothball its operations.