Category: Uncategorized (Other Engineering)

Oil and gas production predicted to increase

The oil and gas industry regulator has raised its forecast of what can be recovered from the waters around the UK over the next three decades. Changes in the way the sector operates are thought to have unlocked the potential for a further 2.8 billion barrels of oil or the gas equivalent. It is now estimated that 11.7 billion barrels could be recovered between 2016 to 2050. More than 43 billion barrels have been extracted from UK waters so far.…

Maersk gets Danish green light for Total oil deal

A.P. Moeller-Maersk A/S said Friday that it has received Danish regulatory approval for the sale of its oil business to Total SA TOT, -0.28% paving the way for completion of the previously announced $4.95 billion deal. As part of the agreement, Total will take over Maersk Oil’s organization, portfolio, obligations and rights with minimal preconditions. Maersk will retain an interest in the sector through 97.5 million shares in the French energy group, equal to around 3.76% of Total.    …