ENERGY NEWS-Oil prices move higher on global economic expectations

Oil prices move higher on global economic expectations

Crude oil prices showed signs of recovery in early Monday trading after an international banker said there were clear signs of global economic growth.

How the gas industry can help fight climate change in Siberia

June 26 (UPI) -- We can't stop methane from being released as permafrost melts, but could we capture the methane as it is released? The gas industry has the technology to do it.

Norway could get economic lift from northern oil field

June 26 (UPI) -- Norwegian energy company Statoil said Monday it expected some economic spillovers would come from support centers for its Johan Castberg field.

Russia focused on Arctic oil developments

June 26 (UPI) -- The head of Russian oil company Rosneft said there were promising oil opportunities in the Arctic region, about a week after declaring a regional discovery.

Gas potential off the coast of Indonesia under review

June 26 (UPI) -- A British oil and gas developer said Monday it was expecting its strategy to exploit natural gas reserves off the coast of Indonesia to pay off.

Safety issues uncovered at North Sea field

June 26 (UPI) -- A safety regulator in Norway said an audit of operations at the Edvard Grieg field, one of the region's largest, revealed potential risks to platform personnel.

U.S. now supplying LNG to South Korea

June 26 (UPI) -- A gas company from Korea, one of the largest buyers of liquefied natural gas in the world, said it commenced a sales agreement with a U.S. supplier.

New oil production starts in the North Sea

June 26 (UPI) -- Up to 50,000 barrels of oil per day is coming out of a North Sea development that cost about $1 billion less than anticipated, regional leaders said.