Russian energy company Rosneft took a majority stake in a joint venture aimed at exploring frontier areas in the arctic with Norway's Statoil, an official said.
Norwegian energy company Statoil, at a world energy summit in Abu Dhabi, called on other companies to reduce natural gas flaring in the name of sustainability.
The Norwegian oil company Statoil said it had found a new oil field in the Barents Sea that contains up to 300 million barrels of recoverable oil.
Political obstacles to exploring for oil and gas in arctic waters will fall as technology improves, an oil executive told the World Petroleum Congress in Qatar.
Production at the Peregrino offshore field in Brazil started and is on its way to producing 100,000 barrels of oil equivalent per day, an energy company said.
Experience gained from gas production in the Arctic paves the way to future developments in the Barents Sea, Norwegian energy giant Statoil announced.
Substantial reductions in carbon emissions are possible only through the increased use of natural gas, said executives with Norwegian energy giant Statoil.
British Energy Minister Ed Miliband welcomed top officials from Norwegian energy giant StatoilHydro to discuss gas and wind technology in the region.
Azeri officials met with top energy executives on the sidelines of the World Economic Forum in Switzerland to discuss production at the Shah Deniz gas field.
Norway's StatoilHydro is taking full control over the Peregrino heavy-oil project in Brazil's waters, Aftenposten reported.