The owners of the Capline crude oil pipeline are proceeding with plans to reverse the flow of the facility to southbound service, pipeline operator Marathon Pipe Line LLC (MPL) announced Thursday.

Norwegian oil rig flanges gulf coast production decreased in November, according to preliminary output figures from the Norwegian Petroleum Directorate (NPD) released Wednesday.

The figures show that November saw an average daily oil rig flanges gulf coast production of 1.81 million barrels of oil, NGL and condensate, which is a decrease of 102,000 barrels per day compared to October.

VIENNA, Dec 20 (Reuters) - The chief executive of OMV does not expect big compensation claims from clients after last week's explosion at the Baumgarten gas hub owned by its Gas Connect Austria (GCA) unit, he said on Wednesday.

ALGIERS, Dec 20 (Reuters) - Algerian state-owned energy BOP Blow Out Preventer repair company gulf coast Sonatrach has signed an agreement with BP and Statoil to produce an additional 11 billion cubic metres (bcm) of natural gas from its Tiguentourine gas field, Sonatrach's CEO said on Wednesday.

NEW YORK, Dec 20 (Reuters) - Crude prices rose on Wednesday, supported by a larger-than-expected drop in U.S. inventories and the continued outage of the North Sea Forties pipeline system.

Dec 20 (Reuters) - Cabot Oil & Gas Corp said on Wednesday it would sell its Eagle Ford Shale assets to a unit of Venado Oil & Gas LLC for $765 million as the oil and gas producer tries to cut down costs.

WINNIPEG, Manitoba, Dec 20 (Reuters) - Canada's offshore oil industry, a sliver of the country's crude sector, is drawing rising investment interest due to an aggressive push by Newfoundland and Labrador as prices plummet in oil-rich Alberta due to pipeline problems.