PetroleoBrasileiro S.A.or Petrobras (PBR Quick QuotePBR ) recently announced that it completed the transfer of its 10% stake in the Lapa field to global integrated oil and gas company TotalEnergies (TTE Quick QuoteTTE ) .

The deal, which also included the assignment of Petrobras Netherlands B.V.’s (PNBV) whole interest in Lapa Oil & Gas B.V., a business in Holland, was concluded with the payment of $49.4 million to Petrobras with contract changes.

The Lapa field (BM-S-9A block) has its address in the pre-salt area of the Santos Basin. Its average output in the....More>>>

Advisors Asset Management Inc. cut its holdings in National Fuel Gas (NYSE:NFG) by 83.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,379 shares of the oil and gas producer’s stock after selling 46,886 shares during the quarter. Advisors Asset Management Inc.’s holdings in National Fuel Gas were worth $490,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFG. BlackRock Inc. increased its stake in National....More>>>

By Joe Hoppe

United Oil & Gas PLC shares fell Monday after it said it has lowered its full-year production guidance for the Abu Sennan license in Egypt, as the proportion of water to oil increased in one field.

Shares at 0714 GMT were down 0.48 pence, or 14%, at 2.85 pence.

The oil-and-gas company said it has lowered full-year guidance for the license to a range of 2,100-2,300 barrels of oil equivalent per day, from 2,500-2700 barrels.

The company said the ASH field–one of seven on the license–has had an increased proportion of water to oil being....More>>>