Statoil ASA (STO) reported its third quarter results of 38 cents per share, compared to the Zacks Consensus Estimate of 40 cents and in line with the year-earlier quarter earnings. Revenue for the quarter was NOK 123.1 billion ($20.1 billion), down 29% year over year.  Though the company’s results were hurt by lower commodity prices, Statoil continues to maintain a high activity level both in Norway and internationally. Equity and entitlement productions were up 8% and 10% year over year, respectively, with the start-up of operations on several new oil and gas fields such as Tyrihans in the Norwegian Sea, Tune Sor in the North Sea and Thunder Hawk in the Gulf of Mexico.  Total oil and gas entitlement production during the quarter averaged 1.71 million barrels of oil equivalent per day (MMBOE/d), 62% of which was oil and 38% natural gas, compared to 1.55 MMBOE/d ...

Russia and the Netherlands have 'serious plans' to increase their energy projects; Royal Dutch Shell is seeking involvement in the Yamal region.  The oil giant has made a discovery of natural gas in the Norwegian Sea that could be the biggest in 12 years.  Apparently oil firm Rosneft will not merge with Surgut.  The company may enter into a joint project with Eni in Africa.  Lukoil is set to buy a 45% stake in a Dutch refinery from Total, outfoxing US refiner Valero.  Rosneft has significantly extended the powers of its board of directors and the government has voted Vladimir Bogdanov, head of rival oil company Surgutneftegaz, onto Rosneft's board, indicating intentions of a possible merger?  Apparently the EU is worried about the stability of Russian gas and may give Kiev a loan.  Arctic ...