Companies

Statoil is cutting its exploration guidance for this year from US$1.5 billion to US$1.3 billion related to efficiency gains and stricter prioritization.

This project is made possible by Air BP and Essendon Fields sharing a vision that growth in aviation requires a competitive fuel service.

The new US sanctions are supposed to limit the financing period for sanctioned Russian banks to 14 days. and for sanctioned oil and gas sector companies to 60 days.

Novatek is one of Russia’s largest independent producers of natural gas.

The document was signed by First Deputy CEO. Gazprom Neft. Vadim Yakovlev and OIEC CEO Behzad Mohammadi.

Other stakeholders in the Stabroek Block are Hess Guyana Exploration which has a stake of 30% and CNOOC Nexen Petroleum Guyana which holds the remaining stake of 25%.

The deal is likely to test further Russia-U.S. chilly ties.

A number of First Nations and environmental groups sued the federal government and Petronas unsuccessfully to try to stop the project.

Sasol shares climbed as much as 4 percent in Johannesburg trading. the most since March 31. and were 3.9 percent higher at 386.50 rand as of 10:05 a.m. local time.

Essar Steel’s petition in the Gujarat High Court against the NCLT proceedings was dismissed and the company filed its response petition with NCLT on Saturday.