Energy News

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February 27, 2017

Iran, Russia review new oil arrangement Feb. 27 (UPI) -- Amendments to a 2014 proposal to swap oil for goods calls for the purchase of 100,000 barrels of oil per day from Iran, Russia's government said Monday. FULL STORY »

OPEC chatter again sparks a rally Feb. 27 (UPI) -- Investors on Monday focused more on OPEC possibilities than real-time trends elsewhere to send crude oil prices sharply higher in early trading. FULL STORY »    Russia sees U.S. oil production as a lid on oil prices Feb. 27 (UPI) -- Gains in oil production from the United States should establish a ceiling over crude oil prices on the global market, the head of Russia's Lukoil said Monday. FULL STORY »    Snapshot of Chinese inflation is lower Feb. 27 (UPI) -- At a time when supply issues are weighing on the mind of oil investors on the global market, China said one of its measures of inflation was lower. FULL STORY »    Wages improve in Norway's energy sector Feb. 27 (UPI) -- Preliminary data for the fourth quarter show wages in the oil, gas and mining sectors of the Norwegian economy increased, the government reported. FULL STORY »    Exxon extends life of Norwegian gas field Feb. 27 (UPI) -- Consent was given to Exxon Mobil to extend the life of a natural gas field in the North Sea because of new production calculations, Norway's government said. FULL STORY »    Total sells off assets in Gabon for $350 million Feb. 27 (UPI) -- French energy major Total said Monday it was unloading some of its mature assets in emerging West Africa to take advantage of market conditions. FULL STORY »