Oil caps biggest three-day gain since 1990 as OPEC ready to talk

Oil capped the biggest three-day gain in 25 years after OPEC said it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates. ...

Russia offers China new gas route as deal on west link drags

Gazprom PJSC, the world’s biggest natural gas supplier, is preparing a deal with China to build a pipeline near the Pacific coast as talks about a West Siberian link drag. ...

Israel gas explorer shares sink as Eni’s Egypt find dims outlook

Shares of the natural-gas exploring units of Delek Group Ltd. plunged the most in 14 years in high volume on concern the discovery of the Mediterranean’s largest field off the coast of Egypt will curtail their exports. ...

WPX Energy sells North Dakota gathering system

WPX Energy has agreed to sell a North Dakota gathering system for approximately $185 million toa private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management, L.P. ...

Schlumberger, IBM introduce service to optimize integrated upstream production operations

Schlumberger and IBM announced Monday that they have teamed up to provide integrated services to upstream oil and gas customers that will improve the business impact of production operations projects. ...

Maersk gets UK approval for $4.5-billion Culzean field development

A.P. Moeller-Maersk A/S won U.K. approval for a $4.5 billion development plan for the Culzean natural gas field as the Danish company tries to ramp up output at its energy division. ...

Alberta royalty review an opportunity to re-establish competitiveness, CAPP says

The Alberta royalty review panel should propose new rules by the end of this year to help restore investor confidence, and should consider how to make the province more attractive and competitive for the oil and natural gas investment that generates jobs and government revenues, the Canadian Association of Petroleum Producers said Monday. ...

Scheduling software to offer subsea industry unprecedented cost reductions

International project services consultancy, Cambla, is to release a new version of its state-of-the-art software, the Schedule Animation Tool (S.A.T.), next week at SPE Offshore Europe. ...

Former NOV employee convicted of felony theft

A Houston jury has found former National Oilwell Varco, L.P., employee Royce G. Binnion Jr. guilty of first-degree felony theft for a long-running scheme in which he submitted fake invoices to his employer to steal more than $1 million he either took in cash or used to buy himself an odd assortment of items ranging from a police radar gun to catfish for his pond. ...

Wärtsilä wins two more regasification module contracts for LNG vessels

South Korean shipyard Hyundai Heavy Industries (HHI) has placed two contracts with Wärtsilä for seawater/propane based regasification modules. ...

Pipeline anxiety spurs Alaska plea for Obama to open oil spigots

Alaska Governor Bill Walker has a message for President Barack Obama: Fill the Trans-Alaska Pipeline System while you still can. ...

Rosneft second-quarter profit falls 22% after crude prices slump

OAO Rosneft, Russia’s largest oil producer, said profit fell 22% in the second quarter after crude prices slumped by almost half from a year earlier. ...

Keppel acquires Cameron's offshore rigs business

Keppel Offshore and Marine USA has completed acquisition of Cameron's offshore rigs business, which comprises the LETOURNEAU jackup rig designs, rig kit business, and aftermarket services for $100 million. ...

Statoil drills dry well in North Sea

Statoil Petroleum, operator of PL72 B, is in the process of completing the drilling of wildcat well 16/7-11 located near the Sleipner Øst field in the North Sea. The well is dry. ...

Maersk gets approval for $4.5 billion U.K. North Sea gas field

A.P. Moeller-Maersk A/S won U.K. approval for a $4.5 billion development plan for the Culzean natural gas field as the Danish company tries to ramp up output at its energy division. ...

Oman considers importing LNG as domestic gas use surges

Oman may start importing to meet surging domestic energy demand, according to two people with knowledge of the matter, a shift in trade that would make it the fourth Arab country in the oil-rich Persian Gulf to buy LNG. ...

Eni discovers 30 Tcf gas field in Mediterranean offshore Egypt

Eni has discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. ...

Alberta regulator orders 95 Nexen pipelines shut down after leak

The Alberta Energy Regulator has ordered the immediate suspension of 15 pipeline licenses issued to Nexen, the Canadian unit of China’s Cnooc Ltd., after finding “noncompliant activities” at the company’s Long Lake oil-sands operations. ...

OEG Offshore U.S. arm merges with Gulf coast equipment provider

OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has announced the merger of its U.S. business with Louisiana-based oilfield equipment provider Cameron Rental and Tank Inc. (CRT). ...

Halliburton believers stand to win big betting on Baker Hughes deal

Traders willing to bet the biggest oil-services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit. ...

OEG Offshore merges with Gulf coast equipment provider

OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has announced the merger of its U.S. business with Louisiana-based oilfield equipment provider Cameron Rental and Tank Inc. (CRT). ...

IKM Testing acquires Oceaneering’s machining, cutting business

The IKM Group announced Friday that IKM Testing has entered into a purchase agreement to acquire Oceaneering’s Norwegian onsite machining and cutting business. ...

Citigroup’s Morse says WTI under $30 needed to curb output

After tumbling to six-year lows, U.S. benchmark oil prices must fall even further before producers begin reining in production, according to Ed Morse, head of global commodity research at Citigroup Inc. ...

McDermott bags its largest Middle East contract from Saudi Aramco

McDermott International has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. ...

Chinese oil giants eschew global jobs purge amid belt tightening

China’s biggest oil companies say they’ll cut costs, but not employees. ...

For OPEC, this year’s painful oil slump will bring gains in 2016

While OPEC’s fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50/bbl, an entirely different picture could emerge next year. ...

Oil surges most in six years on faster U.S. economic growth

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted. ...

Schlumberger's $14.8-billion Cameron purchase could inspire more deals

Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. ...

EIA expects near-term decline in natural gas production in major shale regions

Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. Production from these seven shale regions reached a high in May at 45.6 Bcfd and is expected to decline to 44.9 Bcfd in September. ...

ABB names Pilon as managing director for Canada

MONTREAL, Québec -- ABB has named Nathalie Pilon as the new managing director for ABB in Canada, effective Oct. 1. Pilon replaces Daniel Assandri who led the successful expansion of Canada over the past five years. ...

Cameron purchase could inspire more deals

Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. ...

Total sells North Sea midstream assets for $905 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for around $905 million (£585 million). ...

DNV GL awards class for two self-elevating construction, accommodation units

DNV GL will be working with the Chinese-owned Tianjin Desail to develop a new liftboat design for offshore construction, accommodation and maintenance. ...

Cobalt International Energy names new CFO, executive V.P.

Cobalt International Energy has announced that Shannon (Shane) E. Young, III will join Cobalt as CFO and executive V.P. Young is currently senior V.P. and CFO for Talos Energy. ...

Cobalt International Energy names new CFO

Cobalt International Energy has announced that Shannon (Shane) E. Young, III will join Cobalt as CFO and executive V.P. Young is currently senior V.P. and CFO for Talos Energy. ...

Maersk Oil awards integrated services contract to Amec Foster Wheeler

Amec Foster Wheeler has won a three year integrated services contract (ISC) from Maersk Oil. The value of the contract has not been announced. ...

GeoPark discovers new light oil field in Colombia

GeoPark Limited discovered a new oil field following the drilling of exploration well Chachalaca 1, located on the Llanos 34 Block in Colombia. GeoPark operates and has a 45% working interest in the block. ...

Mexico accelerated global oil slump through derivative deals

When oil collapsed to a six-year low this month, weak demand from China and extra barrels from Iran and Saudi Arabia were marked as the prime suspects. Another country, less central to global energy markets, had a big part to play: Mexico ...

China oil giants seeking to join spree of global energy deals

PetroChina Co., the country biggest oil and gas producer, signaled it’s looking to join a wave of global energy deals as crude’s collapse makes it the right time to buy and sell assets. ...

Loyd’s Register to class world’s largest heavy lift crane vessel

Loyd’s Register has won a contract to class the world’s largest heavy lift crane vessel (NSCV) for the Netherlands-based Heerema Group. ...

Statoil to drill wildcat well in North Sea

The Norwegian Petroleum Directorate has granted Statoil Petroleum a drilling permit for well 25/11-28 in PL196, located in the Norwegian sector of the North Sea. ...

UK: Total sells North Sea midstream assets for $905 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for $905 million (around £585 million), subject to the customary approvals. ...

PetroChina’s first-half profit drops 63% on oil market rout

PetroChina Co., the nation’s biggest oil and gas producer, posted a 63% decline in first-half profit as oil prices slumped, lagging analyst estimates. ...

Tap Oil inks production sharing contract for Myanmar block

Tap Oil has formalized its entry into Myanmar following the signing of the Production Sharing Contract (PSC) for the shallow water Block M-7 in the Moattama basin. ...

CGG completes delivery of Diskos database

CGG has announced today that its EandP data management solution for the seismic, well and production modules in the Diskos database, Norway’s National Data Repository, is now in production and accessible to all members of the Diskos group. ...

Oil industry needs to find half a trillion dollars to survive

At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it. ...

Global energy deals now surpass dawn of oil ‘supermajors’ era

If there was any question over whether this year’s oil crash would give rise to a new era of energy megadeals, there isn’t anymore. ...

Brent as low as $50/bbl isn’t sustainable beyond 2016, Rystad says

...

Anadarko awaits go-ahead for Mozambique gas project

Anadarko Petroleum Corp. has clinched almost all the supply accords it needs to bring a natural-gas project in Mozambique to fruition and is awaiting state consent to export the fuel as U.S. competition gathers pace. ...

Ecuador reveals financial stress inside OPEC

Ecuador has revealed the financial stress inside OPEC created by low oil prices, becoming the first member of the group to say it’s pumping at a loss. ...

Danos wins contract for Shell’s deepwater Appomattox project

Danos has been selected by Shell Offshore Inc. to fabricate three boarding valve skid assemblies for its deepwater Appomattox project. ...

Greene’s Energy Group names Michael Hayes as V.P. and general manager of pressure testing and services

Greene’s Energy Group, a provider of integrated testing, rentals and specialty services, has named Michael “Mike” Hayes as V.P. and general manager of pressure testing and services (PTS) and the engineering group. ...

Schlumberger to acquire Cameron in $14.8-billion deal

Schlumberger and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction valued at approximately $14.8 billion. ...

Schlumberger to acquire Cameron in $14.8-billion deal

Schlumberger and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction valued at approximately $14.8 billion. ...

Subsea UK to support industry with apprenticeships

Subsea UK has launched a new support service to bring fresh, young talent into the subsea sector by making it easier for businesses to recruit apprentices. ...

Norway authorizes equipment for improved recovery on Gullfaks

The Norwegian Petroleum Directorate (NPD) has granted the licensees of Gullfaks Sør consent for start-up and operation of a new subsea wet gas compressor and umbilical on the Gullfaks field in production licence 050. ...

Eagle Ford production remains resilient, Wood Mac says

Despite the slowdown, production growth in the Eagle Ford remains resilient as sweet spots emerge across all active sub-plays according to Wood Mackenzie's North America Key play analysis. ...

Shell spuds Portrush exploration well in Norwegian Sea

AS Norske Shell has started drilling Portrush exploration well 6407/10-5 in the Norwegian Sea, Faroe Petroleum, a junior partner in the license, announced Wednesday. ...

Iran’s oil investments drop to almost nothing on crude slump

Iran, the world’s fifth largest crude producer, has set aside almost nothing for oil investments this year because of the drop in prices. ...

Schlumberger to acquire Cameron

Schlumberger Limited and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies. ...

Cnooc first-half profit drops 56% on plunging crude prices

Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56% decline in profit for the first half of this year. ...

Oil industry crash leaves Wall Street playing catchup

Bad news is pouring down on the U.S. oil industry so quickly that analysts can’t keep up. ...

Oil trades below $40 as China turmoil adds to oversupply concern

Oil swung between gains and losses in New York as further declines in China’s stock market fanned concern that its fuel demand may slow while global crude markets remain oversupplied ...

Transocean targets dividend payout as asset writedowns mount

Transocean Ltd., the offshore oil-rig operator that lost two-thirds of its value in the past year, plans to cancel its dividend and record 2 billion Swiss francs ($2.1 billion) in asset impairments as free-falling crude prices slash demand for drilling vessels. ...

Blame oil glut on investors who still love drilling over profits

Investors sent a surprising message to U.S. shale producers as crude fell almost 20% in August: keep calm and drill on. ...

Pakistan Petroleum reports gas, condensate discovery in Gambat South

Pakistan Petroleum Limited, operator of the Gambat South Block with a 65% working interest, has announced another gas and condensate discovery at its Kabir X-1 exploration well in Sanghar District, Sindh, Pakistan. ...

Landmark introduces industry's first, complete EandP cloud offering

Landmark, a Halliburton business line, has introduced the industry's first, complete software suite for managing EandP projects, taking advantage of cloud computing. ...

Argentina plays by its own rules with oil at $77

Oil at $77? It is in Argentina. Oil has plummeted below $39/bbl in the U.S. But despite the price bloodbath in global energy markets, it fetches nearly twice that amount in Argentina -- home to some of the most expensive crude in the world. ...

Norway’s Oil Minister says crude price at $40 can’t last

Crude at $40/bbl is unsustainable and prices will have to rise as supply drops out of the market, according to Norway’s Oil Minister. ...

Petrofac rises as order boost counters delay at North Sea fields

Petrofac Plc, a UK oil-services provider, rose the most in five weeks in London trading as an expanding order backlog countered setbacks in the North Sea. ...

Encana to sell Haynesville natural gas assets

Encana Oil and Gas (USA) Inc. has reached an agreement to sell its Haynesville natural gas assets, in northern Louisiana, to GEP Haynesville, LLC. ...

Exceed launches world’s first decommissioning collaboration tool

The world’s first online information management system for the offshore decommissioning market has been launched by well management and performance improvement specialist, Exceed. ...

Gasoline is both incredibly cheap and absurdly expensive

Filling up with gasoline in the U.S. is the cheapest it’s been in a decade and yet way too expensive. ...

Lundin to complete drilling at Edvard Grieg appraisal well

Lundin Norway, operator of PL338, is in the process of completing the drilling of appraisal well 16/1-23 S on the Edvard Grieg oil field in the central section of the North Sea. ...

Energy companies cheaper than assets after rout, oil search says

Oil and gas companies are looking more attractive to buy than individual assets following the plunge in share prices, according to Oil Search Ltd., Exxon Mobil Corp.’s partner in Papua New Guinea. ...

Out in the real world, oil market is much better than it looks

The global oil market is healthier than it looks, signaling that crude’s plunge to six-year lows has probably gone too far. ...

Seatronics secures first UK sale of 2G Robotics' ULS-200 underwater laser scanner

Seatronics, an Acteon company, has secured the first UK sale of 2G Robotics' ULS-200 underwater laser scanner. ...

Tenaris to supply products and services for Maersk’s Culzean project

Tenaris has been awarded a contract to supply casing and related services for Maersk Oil North Sea's Culzean project. ...

Oil-stock plunge erases $17 billion as Exxon hits 5-year low

Oil and gas producers dropped to their lowest level in almost four years as collapsing markets in China heightened concern that demand will falter, aggravating a glut. ...

Hydrocarb completes well at 1,500 Mcfgd

Hydrocarb Energy Corporation disclosed Monday that its Galveston Bay State Tract 246 well #181 has been completed at a rate of 1,500,000 cfgd, through a 12/64-in. choke, from the Frio 7 formation. ...

Cobalt sells interest in Angola blocks for $1.75 billion

Sonangol and Cobalt International Energy have announced the signing of a sale and purchase agreement for Sonangol to acquire all of Cobalt’s 40% participating interest in Blocks 21/09 and 20/11 offshore Angola for $1.75 billion. ...

Litre Meter supplies flowmeters for Martin Linge field development

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. ...

Litre Meter supplies flowmeters for Martin Linge field

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. ...

Bjarte Bruheim steps down as EMGS' CEO

Bjarte Bruheim has stepped down from his role as the CEO of Electromagnetic Geoservices (EMGS) with immediate effect. He has held this position since Jan. 7. ...

TGS announces Gigante multibeam, coring and geochemical analysis project

TGS has received an authorization from Mexico's Comisión Nacional de Hidrocarburos (CNH) for the acquisition of multibeam, coring and geochemical analysis data over an area of approximately 600,000 sq km in Mexican waters. ...

First gas from Maurel and Prom’s Mnazi Bay gas field in Tanzania

Maurel and Prom has opened the first two wells of the Mnazi Bay gas field that will deliver gas to the Madimba processing center (operated by GASCO, a subsidiary of TPDC), the entry point of the gas pipeline linking Mtwara to Dar es Salaam. ...

Aptomar, Statoil sign contract for tactical collaboration and management system

Statoil has opted for Aptomar’s TCMS tactical collaboration and management system at the energy company’s field monitoring center at Sandsli in Bergen, Norway. ...

Iran plans ‘any cost’ oil output rise to defend market share

Iran plans to raise oil production “at any cost” to defend the country’s market share and backs calls for an emergency OPEC meeting to help shore up crude prices. ...

Oil price slump is hitting Saudi Arabia: DW Monday

Low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – $4 billion in July. ...

TGS acquires 600,000 sq km for survey offshore Mexico

TGS has received an authorization from Mexico's Comisión Nacional de Hidrocarburos (CNH) for the acquisition of multibeam, coring and geochemical analysis data over an area of approximately 600,000 sq km in Mexican waters. ...

Bjarte Bruheim quits as EMGS' CEO

Bjarte Bruheim has decided to step down as CEO of Electromagnetic Geoservices with immediate effect. ...

Bullish oil bets sink to 5-year low as futures flirt with $40

It’s pretty lonely being an oil bull these days. ...

Brent slides below $45 as Iran pledge worsens oil-supply outlook

Oil in London slid below $45/bbl for the first time since March 2009 as Iran reiterated it will boost production and U.S. drillers showed no signs of slowing. ...

Litre Meter gets 'heroic' North Sea order

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. ...

America’s oil explorers boost drilling for seventh time in eight weeks

Drillers added rigs in U.S. oilfields for the seventh time in the past eight weeks as declining crude prices fail to hold activity back. ...

Total abandons Danish shale gas well

French energy giant Total has been left disappointed by a shale exploration well in Denmark. ...

WTI falls below $40 for first time since 2009 as glut grows

Oil plunged below $40/bbl in New York for the first time in more than six years on signs the supply glut will be prolonged. ...

Royal IHC launches fifth pipelaying vessel for Sapura Navegação Marítima

Royal IHC has successfully named and launched the pipelaying vessel, SAPURA RUBI, in a ceremony at the company’s shipyard in Krimpen aan den IJssel, The Netherlands. ...

Congress likely to repeal oil export ban in 2016, Evercore says

Legislation to repeal a 40-year ban on most domestic oil exports will probably become law in the first quarter of next year, according to analysts at Evercore ISI. ...

Oceaneering promotes Clyde Hewlett to COO

Oceaneering International has announced the promotion of Clyde Hewlett to COO. In this capacity, he will have expanded responsibility for managing all of Oceaneering's oilfield business. ...

Gazprom Neft brings second well online at Prirazlomnoye field

Gazprom Neft has brought its second well into production at Prirazlomnoye field, with output totaling 1,800 tonnes per day. ...

Statoil’s Polarled gas pipeline crosses Arctic Circle

Statoil's Polarled gas pipeline crossed 66 degrees and 33 minutes north of the equator on Friday, and, in doing so, it became the first pipeline to take Norway’s gas infrastructure across the Arctic Circle. ...

Statoil’s Polarled gas pipline crosses Arctic Circle

Statoil's Polarled gas pipeline crossed 66 degrees and 33 minutes north of the equator on Friday, and, in doing so, it became the first pipeline to take Norway’s gas infrastructure across the Arctic Circle. ...

Johan Sverdrup development approved, Statoil says

The plan for development and operation (PDO) for Johan Sverdrup, phase one, has been approved by Norway’s Ministry of Petroleum and Energy. ...

Johan Sverdrup development plan gets a go ahead

Lundin Norway has received plan of development and operation (PDO) approval for Phase 1 of the Johan Sverdrup field development, offshore Norway. ...

Lundin to drill two exploration wells

Lundin Norway has received consent for drilling of two exploration wells, 6407/10-4 and 16/1-25S, in the Norwegian Sea and North Sea, respectively, from Petroleum Safety Authority Norway (PSA). ...

Flying robots replace oil roughnecks

Oil rig inspection is a dangerous business. Traditionally roughnecks dangled from a wire, in gale-force winds if needed, to manually log wear and tear on the girders. Assessments include giant chimneys - called flare stacks - that belch fire during million-dollar-a-day shut-downs. ...

Saudis get that 1998 feeling as lower oil price threatens wealth

The oil price was near its lowest in more than a decade, cash reserves were being depleted, emerging markets were in turmoil and Saudi Arabia was beginning to panic. ...

Oil’s slump claims another casualty as Santos CEO steps down

Oil’s collapse claimed its next victim. ...

Oil poised for longest weekly losing streak since 1986 amid glut

Oil headed for the longest run of weekly declines in almost three decades on signs the supply glut that drove prices to a six-year low will be prolonged. ...

Shale pioneer McClendon seeks global footprint in armour deal

U.S. shale gas explorer Aubrey McClendon is negotiating a $100 million acquisition of Australian drilling rights in a move that marks the former Chesapeake Energy Corp. chief’s first move overseas. ...

Lukoil sells Kazakh assets to Sinopec for $1.09 billion

Lukoil has closed a deal to sell its 50% share in Caspian Investments Resources to China's Sinopec. The required permits from the state authorities of the Republic of Kazakhstan were acquired in late July. ...

Lithium battery supplier changes name from Exium Technologies to Vitzrocell USA, Inc.

Exium Technologies, Inc. has announced that the company has changed its name to Vitzrocell USA, Inc. ...

Fluor, COOEC form new fabrication joint venture

...

Goodrich Petroleum CFO tenders resignation

Goodrich Petroleum announced Wednesday that Jan Schott, the company’s senior V.P. and CFO, has resigned to take a financial position with a private company. ...

Hoover Container Solutions introduces new acid tanks to offshore product line

Hoover Container Solutions has introduced acid tanks intended for the safe transport and storage of a wide range of corrosive liquids and chemicals as the newest addition to its comprehensive offshore product line. ...

Israeli gas finds up for grabs as government prepares sales

Israel moved one step closer to selling stakes worth billions of dollars in its offshore natural gas fields after the Cabinet approved development plans that may lead to exports of the fuel for the first time. ...

William Jacob Management retains services of Rainmaker LLC

William Jacob Management, an engineering and project management firm, has retained the services of Rainmaker LLC to provide sales and marketing support worldwide. ...

Ecopetrol to form new subsidiary for offshore developments

Ecopetrol’s board of directors has authorized the creation of a Colombian company indirectly wholly owned by Ecopetrol S.A. ...

Goodrich Petroleum CFO tenders resignations

Goodrich Petroleum announced Wednesday that Jan Schott, the company’s senior V.P. and CFO, has resigned to take a financial position with a private company. ...

ITF seeks proposals to drive down cost of well plugging and abandonment

The Industry Technology Facilitator (ITF) has launched a call for proposals for new technology solutions to deliver cost efficiencies in through tubing logging during plugging and abandonment operations. ...

Crude oil prices still have a long way to fall: A. Gary Shilling

In February, I predicted that crude oil prices would drop to $10 to $20/bbl. At the time, the price of West Texas Intermediate was $54, down from $74 in November, when OPEC decided not to cut production in order to forestall further price erosion. And that was way down from the June 2014 price of $107. ...

ONGC seeking payments in oil from Venezuela to clear sales dues

India’s Oil and Natural Gas Corp. is in discussions to take $535 million worth of crude in lieu of cash for its share of sales from a Venezuelan oilfield. ...

Mexico hedges 2016 oil exports at average of $49/bbl

Mexico’s government hedged oil exports for next year at an average $49 a barrel, locking in protection against low crude prices, the nation’s Finance Ministry said. ...

Origin Energy falls to lowest since 2008 after posting loss

Origin Energy Ltd. plunged to the lowest intraday price in seven years after posting a full-year loss on asset writedowns and accelerating cost cuts amid a decline in crude prices. ...

Marcellus shale gas revolution deals blow to Rockies’ producers

Eight years ago, a group of companies led by Kinder Morgan Energy Partners began building a $6.8 billion pipeline to carry natural gas from America’s Rocky Mountains to fuel-hungry markets in the East. ...

U.S. shale operators may be the new swing producers

The emergence of shale technology, particularly in the U.S., is dramatically challenging the conventional rules of the global oil markets, according to Olivier Appert, president of the World Energy Council French Committee. ...

U.S. shale producers may be new swing producers

The emergence of shale technology, particularly in the U.S., is dramatically challenging the conventional rules of the global oil markets, according to Olivier Appert, president of the World Energy Council French Committee. ...

Western Gulf of Mexico lease sale 246 yields only $22.7 million in high bids

The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) held its oil and gas lease sale for the Western Gulf of Mexico that drew $22,675,212 in high bids. ...

Albania launches bid round for onshore blocks

The Ministry of Energy and Industry of Albania, recently announced that the oil and gas exploration bidding round deadline is 15th October for onshore blocks Panaja, C and 5 ...

Fugro Americas showcases new-build survey vessel

Fugro’s new-build geophysical survey vessel, the Fugro Americas, was showcased to top clients, with over 100 in attendance. ...

OneSubsea to supply industry's first 15,000-psi subsea pump system for Stones development

OneSubsea, a Cameron and Schlumberger company, was awarded a contract in the second quarter of 2015, to supply subsea processing systems for the Shell Offshore Inc. Stones development in the Gulf of Mexico. ...

Arctic drilling isn’t worth the risk: Hillary Clinton

Democratic presidential candidate Hillary Clinton has spoken out against drilling in Arctic waters. ...

Alvheim production exceeds expectations: Det Norske

Accumulated oil production from the Alvheim-area has passed the 300 MMbbl mark, Det Norske said Wednesday. ...

Companies kick off joint shale gas study in British Columbia

Japan Oil, Gas and Metals National Corporation and INPEX Corporation have started a joint study on technology relating to shale gas development in the Horn River, Liard and Cordova areas in the province of British Columbia, Canada, with INPEX Gas British Columbia and Nexen Energy ULC. ...

CNOOC, Roc sign PSCs for South China Sea blocks

China National Offshore Oil Corporation (CNOOC) has signed two production sharing contracts (PSCs) with Roc Oil (China) Company (ROC) for Blocks 16/07 and 03/33 in the South China Sea. ...

Lake Charles LNG project gets FERC’S Final Environmental Impact Statement

...

Marsol International launches integrity management system

Marsol International, a Dubai-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has launched its holistic integrity management system to drive forward efficiencies in capital and operating expenditures. ...

More oil pain needed before energy deals seen picking up

It may take another quarter of weakening oil prices before energy companies start selling assets, according to Australia’s Woodside Petroleum Ltd. ...

Colorado already put methane caps on drillers, and it worked

For an idea of how the U.S. government’s proposed methane rules will affect drillers, look no further than Colorado. ...

Circle Oil wins permit extension for Mahdia license in Tunisia

Circle Oil has announced that the Tunisian Authority has approved the application to renew the exploration permit on its Mahdia block. ...

BOEM opens bids for GoM oil and gas lease sale

The Bureau of Ocean Energy Management (BOEM) will conduct Gulf of Mexico Western Planning Area Lease Sale 246 on Wednesday at the Mercedes-Benz Superdome in New Orleans. ...

COSCO Shipping bags Appomattox platform transportation contract from Shell Offshore

COSCO Shipping Company Ltd. (COSCOL) has signed a contract with Shell Offshore on July 6, for the transportation of the Appomattox semi-submersible offshore platform hull from South Korea to Ingleside, Texas. ...

CH2M appoints Bob Prasad as V.P. of Business Development for its Oil, Gas and Chemicals Business group

CH2M, a global full-service consulting, design, construction, and operations firm, has announced that Bob Prasad has been promoted to V.P. of Business Development, Canada and Western U.S. for the Oil, Gas and Chemicals Business group. ...

Woodside first-half profit slumps 39% after oil price plunge

Woodside Petroleum, Australia’s second- largest oil and gas producer, posted a 39% decline in first-half profit following the slide in crude prices. ...

OPEC's `Fragile Five' face rising cost of fight for market share

The costs of OPEC’s plan to protect members' share of the oil market by out-producing rivals are mounting. ...

Oil resumes decline as OPEC nations continue to pump amid glut

Oil resumed its decline as OPEC nations signal they will continue pumping crude amid a global glut. ...

New onshore oil and gas blocks to be offered

The Oil and Gas Authority (OGA) announced today that 27 onshore blocks from the 14th Onshore Oil and Gas Licensing Round will be formally offered to companies. ...

Aquatic awarded multi-million dollar Moho Nord subsea contract

Aquatic Engineering and Construction, an Acteon company, has been awarded a multi-million dollar contract on the $10-billion Moho Nord subsea project, off the coast of the Republic of Congo, West Africa. ...

EPA proposes 45% reduction in methane leaks from oil, gas operators by 2025

The Obama administration has proposed the first federal rules to cut methane emissions from oil and gas production. The proposed rules from the EPA target oil wells, compressors and other equipment as part of an effort to reduce leaks of methane by as much as 45% by 2025. ...

EPA proposes 45% reduction in methane leaks from oil, gas operators by 2015

The Obama administration has proposed the first federal rules to cut methane emissions from oil and gas production. The proposed rules from the EPA target oil wells, compressors and other equipment as part of an effort to reduce leaks of methane by as much as 45% by 2025. ...

Bell Geospace awarded contract for data acquisition survey in Mongolia

Bell Geospace, leaders in full tensor gravity gradiometry data acquisition, have announced that they have been awarded a contract to acquire approximately 4,247 square mi of data onshore Mongolia, by Petro Matad Limited. ...

Crescent Point Energy closes Coral Hill Energy acquisition

Crescent Point Energy’s acquisition of Coral Hill Energy closed Friday. ...

Accenture to acquire Schlumberger Business Consulting

Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of Schlumberger. ...

NEOS acquires Denver land processing business from ION

NEOS GeoSolutions has acquired ION Geophysical's Denver-based land seismic data processing operation, NEOS announced Monday. ...

Amec Foster Wheeler wins Upper Zakum field contract extension

Amec Foster Wheeler has been awarded an extension to its existing project management consultancy (PMC) contract for the UZ750 project in Upper Zakum (UZ) field, 84 km northwest of Abu Dhabi. ...

Wood Group wins major Shell Gabon contract

Wood Group has received a letter of award for a new five year, multi-million dollar contract with Shell, to provide services to four onshore oil fields in Gabon. ...

Brace for more dividend cuts as Canada oil-patch cash flow fades

Dividend cuts among Canadian energy producers are poised to accelerate as cost reductions fail to boost shrinking cash flow. ...

EPA to propose methane emission cuts for oil and gas industry

The U.S. Environmental Protection Agency will announce on Tuesday proposed regulations to curb emissions from the nation’s oil and natural gas industry, according to the American Petroleum Institute’s regulatory chief. ...

Oil trades near six-year low as global oversupply seen prolonged

Oil traded near the lowest price in six years amid speculation the global glut that drove prices into a bear market will be prolonged. ...

Emerson signs 10-year agreement with BP

BP and Emerson have signed a global agreement for Emerson Process Management, a global business of Emerson, to provide automation technologies and aftercare services for BP’s upstream oil and gas operations. ...

Primeline inks drilling contract for exploration campaign with COSL

Primeline Energy Holdings has entered into a turnkey drilling contract with China Oilfield Service Ltd. (COSL) for its 2015 exploration programme of two wells in Block 33/07 in the East China Sea. ...

Shell wins approval to drill for oil in Alaskan Arctic waters

Royal Dutch Shell won permission to fully drill a well for oil in the Arctic waters off Alaska for the first time in three years. ...

Frank's International names Alex Cestero as Senior V.P., General Counsel and Secretary

Frank's International has announced that Alex Cestero has been appointed as the company's Senior V.P., General Counsel and Secretary. ...

National Energy Board issues import and export licences to Pieridae Energy (Canada)

Pieridae Energy (Canada) Ltd. has been issued long-term licenses by the National Energy Board of Canada to import natural gas from the U.S. and to export liquefied natural gas (LNG) from Canada. ...

WPX Energy completes acquisition of Permian producer, RKI Exploration and Production

WPX Energy has successfully closed the purchase of privately held RKI Exploration and Production. ...

BSEE approves Shell's request to drill into Arctic oil-bearing zones

Shell has received approval of to conduct exploratory drilling activities into potential oil-bearing zones offshore Alaska at one of the wells at the Burger prospect, Burger J. ...

Alberta limits oil-sands water use as province faces dry spell

Alberta’s energy regulator restricted applications by oil and natural gas operators to withdraw water from the Athabasca River amid dry conditions in the province. ...

Algeria calls for non-OPEC output cut to stop oil price slump

OPEC can do little to halt the oil price decline on its own and needs producers from outside the group to help in reducing global supplies, Algeria’s Energy Minister said. ...

Wood Group wins double contract in Ca Rong Do

Wood Group has been awarded the front end engineering and design (FEED) contract for the subsea development of the Talisman Energy Ca Rong Do field offshore Vietnam. ...

Sparrows Group expands into Saudi Arabia

Sparrows Group has expanded its reach in the Middle East after forming a local partnership with Zamil Group in Saudi Arabia. ...

Russia sales outlook worst in BRIC markets on oil

Russia is the standout these days among the biggest emerging markets, but for all the wrong reasons. ...

South Africa’s ANC backs oil-law plan in economic policy review

South Africa’s ruling African National Congress backed a plan to split legislation governing the oil and gas industry from mining laws as the party begins a review of its policies. ...

KrisEnergy brings Wassana field online

KrisEnergy Ltd. has initiated oil production from the Wassana oil field in the G10/48 concession in the Gulf of Thailand. ...

Tendeka appoints new COO and CTO

Tendeka has strengthened its executive team with the appointment of Scott Watters as COO and Annabel Green as CTO. ...

Bill Smart joins Delmar Systems

Bill Smart has joined the Delmar Systems, Inc. global business development team. ...

Sen. Murkowski welcomes approval of U.S.-Mexico oil exchanges

U.S. Sen. Lisa Murkowski, R-Alaska has applauded news that the U.S. Commerce Department has approved limited exchanges of crude oil between the United States and Mexico. ...

National Energy Board grants export licence to Bear Head LNG

The Directors of Liquefied Natural Gas Ltd. have announced that Canada's National Energy Board (NEB) has granted Bear Head LNG Corporation and Bear Head LNG (U.S.) authorization to export liquefied natural gas (LNG) from Bear Head LNG's project site on the Strait of Canso in Nova Scotia. ...

Hedge funds resume flight from oil as prices sink to 6-year lows

After showing some short-lived optimism, hedge funds resumed their retreat from the U.S. oil market, cutting bullish positions for the seventh time in eight weeks as prices dropped to the lowest since 2009. ...

OPEC may boost oil output to record with Iran back amid glut

OPEC could potentially boost crude oil production to 33 MMbopd, the most ever, after international sanctions are removed against Iran amid a global supply glut, according to the country’s OPEC representative. ...

Oman’s daily oil output tops 1 MMbopd for first time

Oman, the biggest oil producer in the Middle East outside OPEC, said its crude and condensate production in July exceeded 1 MMbopd for the first time. ...

Israeli cabinet approves blueprint for natural gas development

The Israeli cabinet approved a regulatory blueprint for developing the country’s natural gas fields, backed by Prime Minister Benjamin Netanyahu and opposed by detractors who call it overly generous to energy companies. ...

Obama said to approve crude oil exports to Mexico, easing ban

The U.S. will permit some crude oil sales to Mexico in a step toward loosening the government’s ban on most domestic oil exports in place since the 1970s oil embargo, an administration official said. ...

Environmentalists seek delay for next week's GoM lease sale

Environmentalists are calling for the Obama administration to delay next week's Gulf of Mexico lease sale until Congress reauthorizes a 50-year-old conservation program. ...

Drillers add two oil-directed rigs as total holds steady

Drillers in the U.S. added two oil-directed rigs this week, even as the total number of rigs remained unchanged at 884. ...

Environmentalists seek delay for offshore lease sale

Environmentalists are calling for the Obama administration to delay next week's Gulf of Mexico lease sale until Congress reauthorizes a 50-year-old conservation program. ...

Israel reaches deal with gas companies, paving way to new output

Israel and the developers of the country’s natural gas fields reached an agreement on a regulatory framework, coming one step closer to resolving a dispute that’s held up production. ...

Utica shale set for new dry gas gathering system

MarkWest Energy Partners and The Energy and Minerals Group (EMG) are to develop a new, large-scale dry gas gathering system to strategically expand the parties’ position in the Utica shale. ...

New oil spill recovery record set in North Sea exercise

Norwegian offshore player Egersund Group recently set a new oil spill recovery record when its newly developed Marine Oil Spill (MOS) Sweeper system managed to recover 96.4% of oil released in a North Sea exercise. ...

Six workers killed returning from rig offshore Nigeria

Six workers have been confirmed dead following an accident involving a Bristow helicopter returning from a rig offshore Nigeria. ...

Prosafe wins three-year contract offshore Brazil

Prosafe has signed a contract with Petrobras Netherlands B.V. for the provision of the Safe Eurus semisubmersible vessel for safety and maintenance support offshore Brazil. ...

EMGS inks $1.1-million data licensing agreement

Electromagnetic Geoservices (EMGS) has entered into a new data licensing agreement for the provision of 3D EM data from EMGS' multi-client data library over the Barents Sea. ...

Oil's worst-ever summer signals price rout is nowhere near done

If crude’s slump back to a six-year low looks bad, it’s even worse when you reflect that summer is supposed to be peak season for oil. ...

Optimistic oil experts still see rally as crude hits new lows

Oil analysts are, if nothing else, optimists. ...

ONGC said to seek $900 million stake in Rosneft Vankor field

Oil and Natural Gas Corp. is seeking through its overseas unit to buy a stake in Russia’s second-largest oil producing development from OAO Rosneft, according to two people with direct knowledge of the plan. ...

Exxon’s $40 billion find renews old feud off Venezuela

For generations, Venezuela has formally laid claim to most of its tiny neighbor, Guyana. Many dismissed the case, given Venezuela’s oil wealth and Guyana’s penury. Hugo Chavez, longstanding president of Venezuela, even let it slide, referring to the Guyanese as his brothers. ...

Oil extends drop at 6-year low as yuan gains; Japan stocks fall

Oil’s slump gathered momentum, with U.S. crude extending losses at a six-year low on concern weakness in China’s economy will exacerbate the global glut. Japanese stocks resumed declines, while the yuan advanced offshore. ...

North America spearheading rise in LNG liquefaction capacity growth

Global LNG capacity would more than double from 341 mtpa in 2015 to 811 mtpa by 2019 based on proposed natural gas liquefaction projects, according to research and consulting firm GlobalData. ...

North America spearheading huge rise in LNG liquefaction capacity growth: GlobalData

Global LNG capacity would more than double from 341 mtpa in 2015 to 811 mtpa by 2019 based on proposed natural gas liquefaction projects, according to research and consulting firm GlobalData. ...

DEP releases latest revisions of oil, gas rulemaking

Pennsylvania's Department of Environmental Protection (DEP) has announced the draft final revisions to the Environmental Protection Performance Standards at Oil and Gas Well Sites rulemaking (Chapters 78 and 78a). ...

UK to speed up shale gas planning decisions

Shale gas planning applications in the UK will be fast-tracked through a new, dedicated planning process, under measures announced Thursday. ...

Packers Plus, Acacia subsidiary collaborate for licensing of multi-zonal completion technology

Packers Plus in conjunction with a subsidiary of Acacia Research Corporation have announced their collaboration on the licensing of a set of fundamental patents related to multi-zonal completion of horizontal wells including ball-drop, sliding sleeve and packer technology for use in the hydraulic fracturing of both tight and conventional oil and gas reservoirs. ...

Pre-drilling template installed at Johan Sverdrup field, Statoil says

The first piece of the Johan Sverdrup development has been completed and installed on the field in the North Sea. ...

Noreco announces CFO resignation

Odd Arne Slettebø, Noreco’s CFO since November 2014, has handed in his resignation and his employment will cease on Oct. 31. ...

NADL names McReaken as its new CFO

North Atlantic Drilling’s CFO, Ragnvald Kavli, is to leave the company to pursue other career opportunities. He will step down from his duties as of Aug. 17. ...

Rosneft bucks world trend to boost oil drilling amid price slump

OAO Rosneft increased drilling for oil and gas by 27% in the first seven months of the year, bucking the trend of international oil companies as prices slump. ...

NCS Multistage's Ravensbergen receives 2015 SPE Regional Award for Canada

NCS Multistage has announced that John Ravensbergen, P.Eng., the company's V.P. of Research and Development, has received the 2015 SPE Regional Technology Award for Canada. ...

Oil majors’ $60 billion cuts don’t go far enough as crude slides

The $60 billion of oil-industry spending cuts this year won’t be enough as crude languishes near a six-year low. ...

Packers Plus and Acacia subsidiary collaborate for licensing of multi-zonal completion technology

Packers Plus in conjunction with a subsidiary of Acacia Research Corporation have announced their collaboration on the licensing of a set of fundamental patents related to multi-zonal completion of horizontal wells including ball-drop, sliding sleeve and packer technology for use in the hydraulic fracturing of both tight and conventional oil and gas reservoirs. ...

TAM International implements strategic restructuring

TAM International has restructured its regional businesses into two individual hemisphere-based groups in order to achieve higher performance rates and streamline its business objectives. ...

Borets appoints two new V.P.

Borets has appointed Phyllis Mitchell as V.P. of human resources and Kent C. Crago as V.P. of finance, both to be based in Houston. ...

Alaska has clear path forward on natural gas, states ACCF's new paper

Alaska's best path towards boosting short and long-term economic growth is to set forth a coherent set of policies that center around the exploration and development of the state's abundant natural gas resources, according to a new paper by the American Council for Capital Formation (ACCF). ...

InterMoor provides rapid mooring support for Anadarko's Heidelberg spar

InterMoor Inc., an Acteon company, provided Anadarko Petroleum Corporation with rapid hook-up services for their Heidelberg truss spar in the deepwater Gulf of Mexico after stepping in at short notice for another contractor. ...

Oil at $30 is no problem for some cost-cutting Bakken drillers

The lowest crude prices since 2009 might still not be enough to end the U.S. energy renaissance. ...

InterMoor provides rapid mooring support for Anadarko's Heidelberg truss spar

InterMoor Inc., an Acteon company, provided Anadarko Petroleum Corporation with rapid hook-up services for their Heidelberg truss spar in the deepwater Gulf of Mexico after stepping in at short notice for another contractor. ...

First Subsea completes Goliat bend stiffener connections

Subsea connector specialist, First Subsea, has completed the installation of bend stiffener connections for gas lift and production risers, power cables and umbilicals, for the Goliat FPSO in the Norwegian Barents Sea. ...

Cooper named key account manager for Greene’s Energy Group

Greene’s Energy Group, a provider of integrated testing, rentals and specialty services, has named Brian Cooper as a key account manager focusing on the Permian basin region. ...

Amec Foster Wheeler wins Sonatrach gas field contract

Amec Foster Wheeler has won a contract from Sonatrach, the largest oil and gas company in Africa, to supply engineering services for the de-bottlenecking of Hassi R’Mel gas field, located approximately 550 km south of Algiers, Algeria. ...

InterOil to plug and abandon Wahoo exploration well

InterOil Corporation announced Wednesday that the Wahoo-1 sidetrack operations had not intersected a carbonate reservoir and that the company intends to plug and abandon the well. ...

Lundin finds oil in Luno II North prospect, offshore Norway

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has struck oil at its Luno II North prospect, offshore Norway, the company announced Wednesday. ...

E.ON EandP Norge drills dry well in Norwegian Sea

E.ON EandP Norge AS, operator of PL650, has completed drilling wildcat well 6507/3-11 S located in the Norwegian Sea. The well came up dry. ...

Lukoil marks 5 million tonnes of oil production at Yuri Korchagin field

Lukoil has passed a 5 million tonnes (38.6 MMbbl) mark in oil production at the Yuri Korchagin field in the Caspian Sea. ...

IEA sees oil glut enduring in 2016 after reaching 17-year high

The global oil glut will last through next year as surging demand and faltering supply growth fail to clear the surplus, according to the International Energy Agency. ...

GeoPartners and consortium launch 2D seismic survey in North Celtic Sea

GeoPartners, in partnership with MAGE, Seabird Exploration and DownUnder GeoSolutions, have acquired a new regional multiclient 2D (MC2D) seismic survey entitled North Celtic Sea 2015. ...

Tenaris expands MOOC offering on edX platform with new courses

Tenaris is expanding its online library on the edX platform with the launch of two additional massive open online courses (MOOCs). ...

Oil tumbles to six-year low at close on OPEC output, yuan move

Crude closed at the lowest level in more than six years in New York as OPEC production climbed while China’s devaluation of the yuan bolstered concern that the world’s second-biggest economy will slow. ...

Weatherford acquires assets of Elite Energy Products

Weatherford International has announced the acquisition of the assets of Elite Energy Products. ...

Mariner jacket on its way to North Sea, Statoil says

The steel jacket for the Statoil-operated Mariner A platform on the UK Continental Shelf (UKCS) left the Spanish Dragados yard on Monday and is now on its way to the North Sea. ...

Lukoil awarded block in eastern Siberia

PJSC LUKOIL has been awarded the rights to develop the Vostochno-Taimyrsky block, which is located in the Taimyr Dolgano-Nenets district of Russia’s Krasnoyarsk region. ...

Keppel Shipyard announces contract awards

Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore and Marine (Keppel OandM), has secured an FPSO conversion contract as well as three repair, upgrade and modification contracts. ...

Pemex awards three-year offshore engineering blanket order to Wood Group

Wood Group has been awarded a three-year offshore engineering blanket order by Pemex Procurement International for field development in Mexico’s Gulf of Mexico waters. ...

IWCF launches online system for well control training

The International Well Control Forum (IWCF), the independent organization that sets international well control standards, has launched a new online administration system called FORUM, which will change the way well control training is managed. ...

Harkand completes Swordfish DSV upgrade

HARKAND has completed the $10.5 million upgrade of its Gulf of Mexico-based dive support vessel (DSV) Swordfish. ...

Shale oil output wanes as U.S. producers retreat in bear market

The shale fields that propelled the U.S. energy boom are expected to take another step back next month as producers reduce costs in the midst of a bear market. ...

OPEC output reaches 3-year high as Iran pumps most since 2012

OPEC pumped the most crude last month in more than three years as Iran restored output to the highest level since international sanctions were strengthened in 2012. ...

Kongsberg Oil and Gas Technologies appoints new president

Kongsberg Oil and Gas Technologies has appointed Egil Haugsdal as the company's new president. ...

Quadrant Energy drills dry well offshore Western Australia

Karoon Gas Australia has announced that the Levitt-1 exploration well in WA-482-P Carnarvon basin, offshore Western Australia encountered no hydrocarbons. ...

Maersk Drilling bags contract for jack-up rig Maersk Giant from DONG Energy

Maersk Drilling has been awarded a new contract for the jack-up rig Mærsk Giant with Danish energy utility DONG Energy. ...

Two Petrobras basins: one safe but fading, the other a pricy bet

The two oil basins off Rio de Janeiro’s coast offer a glimpse into the tough choices Petroleo Brasileiro is making as it slashes $77 billion in investments. ...

A new line of low-cost emulsifiers for drilling fluids

A new line of basic emulsifiers from Georgia-Pacific Chemicals provides an economic alternative to high-performance emulsifiers for the oilfield industry. ...

Alliance Pipeline force majeure reduces production at Greater Kaybob

Athabasca Oil was informed by Alliance Pipeline of the shutdown of its mainline pipeline system. Athabasca has shifted a portion of its regional Kaybob production to the SemCAMS KA plant and TCPL system, however approximately 4,200 boed of the company's light oil production is currently impacted. ...

Schlumberger launches new deepwater 3D seismic survey in Mexico's Compeche basin

Schlumberger expanded its Gulf of Mexico multiclient wide-azimuth seismic data portfolio by launching a new survey in the Campeche basin. ...

Schlumberger launches industry-first deepwater seismic survey in GoM

Schlumberger expanded its Gulf of Mexico multiclient wide-azimuth seismic data portfolio by launching a new survey in the Campeche basin. ...

Natural gas futures climb as hot weather to stoke power demand

Natural gas futures advanced as forecasts for unusually hot weather signaled increased demand for the power-plant fuel, limiting supply gains. ...

Canacol Energy annouces light oil discovery in Ecuador

Canacol Energy Ltd. and its JV partners have completed the drilling and testing of the successful Secoya Oeste - A001 exploration well located adjacent to the producing Libertador and Atacapi light oil fields in the Oriente basin of Ecuador. ...

Flexitallic is first to upgrade standard graphite material

The Flexitallic Group (Flexitallic), an international manufacturer and supplier of industrial static sealing products, has announced the upgrade of its U.S. standard graphite material to Flexicarb SEL. ...

Oil trades near five-month low as U.S. drillers deploy more rigs

Oil traded near the lowest level in almost five months in New York as a rebound in U.S. drilling signaled production is withstanding the slump in prices. ...

U.S. sanctions sour earnings surprise for biggest gas producer

U.S. sanctions against the world’s biggest natural gas producer soured a surprise 71% surge in profit at Gazprom PJSC to push its shares lower in Moscow. ...

UK Soma probe looks at payments to Somali officials

Searching for oil off the coast of one of the world’s most dangerous and corrupt countries was always going to be difficult for Soma Oil and Gas Ltd. Now its work in Somalia is being scrutinized by the UK’s Serious Fraud Office. ...

Oil rises from six-month low as China imports climb to record

Oil advanced from the lowest closing level in six months in London, as China imported recorded volumes of crude and some OPEC members discussed the possibility of an emergency meeting. ...

Gazprom profit rises 71% on weaker ruble even as gas prices drop

Gazprom PJSC, the world’s biggest natural gas producer, said first-quarter profit rose 71% as a weaker ruble countered lower prices for the fuel and falling sales volumes. ...

For Norway, oil at $50 is worse than the global financial crisis

When the financial crisis brought the global economy to its knees, Norway was largely unscathed. But oil under $50? That's another story. ...

U.S. rig count rises by 10, international count down 28

The U.S. oil rig count increased by six this week, with more rigs added in the Permian basin, according to Baker Hughes. ...

U.S. puts Russian gas field off limits as sanctions tighten

The U.S. declared one of Russia’s largest offshore oil and natural gas fields off limits to American tools and expertise, potentially disrupting Royal Dutch Shell Plc’s plans to liquefy the fossil fuel for export. ...

Deep Down nets orders totaling more than $2 million

Deep Down, Inc. has received orders for flying leads and offshore services, all for the Gulf of Mexico, valued in excess of $2 million. ...

EMGS nets $4.2 million Malaysia contract

Electromagnetic Geoservices has received a letter of award (LOA), for a contract worth approximately $4.2 million, from an oil company for 3D EM data acquisition over their operated area in Malaysia. ...

CGG GeoSoftware donates software to Indian Institute of Technology Bhubaneswar

CGG GeoSoftware has donated its Hampson-Russell and Jason geophysical software suites, covering all aspects of reservoir characterization, to the Indian Institute of Technology Bhubaneswar (IIT BBS). ...

Shell, Petromanas awarded onshore block in Albania

Royal Dutch Shell and Petromanas Energy have been named as the successful bidders for Block 4, onshore Albania, by the Albanian National Agency of Natural Resources (AKBN). ...

Lukoil lands $1 bn loan for second stage of Shah Deniz

Under the second stage of the Production Sharing Agreement of the Shah Deniz project in Azerbaijan, LUKOIL Overseas Shah Deniz Ltd.—a wholly owned PJSC LUKOIL subsidiary—has signed a 12-year credit-facility agreement with a consortium of banks to borrow $1 billion. ...

SandRidge Energy names new CFO

SandRidge Energy has appointed Julian Bott as its new executive V.P. and CFO. ...

Exxon Mobil increases position in Permian basin

IRVING, Texas -- Exxon Mobil has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland basin. ...

Bluewater wins turret mooring contract for Rosebank project

Bluewater Energy Services has been awarded a contract from Hyundai Heavy Industries (HHI) for the engineering, procurement, construction and integration (EPCI) of a major turret and mooring system for the Rosebank FPSO. ...

Petrobras shrugs off oil rout as cheap crude helps fuel business

Brazil’s embattled state oil company is deriving more gains from crude below $65 than at any point of the last price boom. ...

To please investors, big oil makes deepest cuts in a generation

Oil companies are making the largest cost cuts in a generation to reassure investors. They’re risking their own future growth. ...

Worst oil-project drought since 2009 could cap Norway income

For the first time since the financial crisis, the Norwegian government’s oil company has seen no significant new plans presented for its offshore fields this year as producers cut spending after crude prices collapsed. ...

CGG GeoSoftware donates geophysical software to Indian Institute of Technology Bhubaneswar

CGG GeoSoftware has donated its Hampson-Russell and Jason geophysical software suites, covering all aspects of reservoir characterization, to the Indian Institute of Technology Bhubaneswar (IIT BBS). ...

ION's MexicoSPAN fast-track data available

ION Geophysical has announced the availability of fast-track pre-stack time migrated (PSTM) data from the first phase of its MexicoSPAN program. ...

Why native Alaskans support Shell's Arctic drilling

Many native Alaskans depend on the oil business—many work directly for the industry—and welcome Shell's exploration. ...

Transocean jumps as cuts lead profit to beat estimates

Transocean Ltd., the world’s largest offshore rig owner, rose the most since hiring a new CEO in April as his move to reduce expenses led second-quarter profit to beat estimates. ...

Enventure introduces solid steel casing patch

Enventure has announced the introduction of ESeal Patch, a breakthrough in casing patch technology that utilizes a unique permanent, inexpensive casing patch solution that reliably restores well integrity. ...

Hoover Container Solutions opens service facility in Brazil

Hoover Container Solutions (Hoover), a provider of chemical tanks, cargo carrying units and related products and services, has announced the opening of its new service facility in Brazil. ...

Paradigm delivers North Sea fire safety project for Apache

Paradigm Flow Services has successfully completed a deluge remediation and replacement project for Apache North Sea in the Forties field. ...

NOW Inc. acquires Challenger Industries in all-cash deal

NOW Inc. has entered into an agreement to purchase the business of Challenger Industries, Inc. Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed. ...

Oil and gas boost America's 2015 trade balance, API says

The mid-year trade report from the U.S. Commerce Department shows that the oil and natural gas industry continues to drive U.S. economic gains in 2015, a trend that could accelerate under free trade policies, said American Petroleum Institute (API) Chief Economist John Felmy. ...

Bill Abriel named SEG president-elect

The Society of Exploration Geophysicists (SEG) announced the results of its 2015-2016 board of directors election Wednesday. ...

Halliburton’s new app matches solutions to customer challenges

Halliburton has developed a first-of-its-kind mobile app for the oil and gas industry to help customers identify solutions for their well challenges. ...

BSEE inspectors stay vigilant over Shell Arctic drilling operations

Two Bureau of Safety and Environmental Enforcement (BSEE) inspectors are overseeing Shell drilling operations 24/7 in the Chukchi Sea to ensure compliance with federal regulations and safety standards. ...

Aqualis Offshore signs liftboat contract

Aqualis Offshore, part of Aqualis ASA, has been contracted by Mekers Offshore Ltd. to supervise the construction of the Zhejiang-based company’s two new liftboats. ...

Explorers in need of cash are selling oil fields as last resort

Energy explorers reeling from the rout in oil prices are looking for liquidity in an obvious place: their rocks. ...

Oil trades near lowest since March as Goldman sees global glut

Oil traded near the lowest level in more than four months amid speculation a global glut that drove prices into a bear market will be prolonged. ...

Knight Oil Tools names Steven Langlinais as V.P. QHSE

Earl Blackwell, President and CEO of Knight Oil Tools has announced that Steven Langlinais has joined the company as V.P., Quality, Health, Safety and Environment (QHSE). ...

Elgin Equipment Group announces formation of Elgin Separation Solutions

Elgin Equipment Group has announced the formation of Elgin Separation Solutions, a restructured operating division dedicated to the oil and gas drilling and pipeline construction markets. ...

Paradigm delivers fire safety project for Apache

Paradigm Flow Services has successfully completed a deluge remediation and replacement project for Apache North Sea in the Forties field. ...

Wood Group releases ENVision environmental information management software system

Wood Group Mustang has released the ENVision real-time environmental information management software system for process and industrial plants. ...

GE releases Predix Cloud, world’s first cloud service

GE has announced the launch of Predix Cloud, the world’s first and only cloud solution designed specifically for industrial data and analytics. ...

YPF profit climbs, output increases

YPF SA, Argentina’s state-run oil producer, posted second-quarter earnings that exceeded expectations as it increased output and sold crude at a premium to international prices. ...

TSandM Supply opens new facility in Saskatchewan

TSandM Supply, a DistributionNOW Company based in Canada, recently held a grand opening and ribbon cutting for their new head office and distribution center in Estevan, Saskatchewan. ...

Peak launches FlexiDrift for accurate adjustable drift runs in a single tool

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has announced the launch of the FlexiDrift—an accurate, adjustable tool to confirm the minimum diameter specification of well bore tubing with the ability to cover a range of tubing sizes. ...

Statoil seeks broader Rosneft ties despite Russia sanctions

Statoil ASA is seeking to deepen its ties with OAO Rosneft even as sanctions hinder the Norwegian oil producer’s push to add resources from its eastern neighbor. ...

Bush puts Texas oil and gas lease sale on line; makes $20 million

Texas' first-ever online sale of oil and gas leases quickly became the biggest state lease sale in the nation to be held on EnergyNet, earning public schools nearly $20 million Tuesday morning. ...

Exploration takes seismic shift in Gabon to Somalia

Not all exploration has slowed for oil and gas in Africa. More nations not known for energy reserves on the continent are conducting seismic surveys during a drilling downturn. ...

Wood Group Mustang Onshore Pipeline and Facilities business unit created

Wood Group Mustang has consolidated the Pipeline, Onshore and Oil Sands business units into the Onshore Pipeline and Facilities (OPF) business unit, which provides oil and gas processing, transportation, and field services. ...

Veolia selected by Dolphin Energy for Qatar industrial water management project

Veolia Water Technologies will engineer, procure and deliver an industrial wastewater management system including its proven HPD evaporators used for KHI removal and distillate recovery at Dolphin Energy’s natural gas production and processing facilities in Ras Laffan, Qatar. ...

Iran planning for investment from France’s Total

TEHRAN -- Iranian Minister of Petroleum Bijan Zangeneh says Iran is planning to open a new chapter in cooperation with the French energy giant, Total, for the development of Iranian oil fields. ...

Bechtel wins FEED contract for first FLNG facility in U.S.

Bechtel has been selected by Delfin LNG, a wholly owned subsidiary of Fairwood Peninsula Energy Corporation, to perform front-end engineering and design (FEED) for the first U.S.-based floating liquefied natural gas (FLNG) vessel to go into service at Port Delfin. ...

Lundin’s Edvard Grieg appraisal well hits 66-m oil column

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has completed the drilling and logging of appraisal well 16/1-23 S on Edvard Grieg field in the Norwegian North Sea. ...

Chesapeake troubles deepen on glut-driven second-quarter loss

Chesapeake Energy Corp., the worst-performing stock on the Standard and Poors 500 this year, posted a second-quarter loss as it joined other North American oil and gas producers squeezed by a glut-driven commodity rout. ...

Hungary’s Mol raises full-year target after record earnings

Hungarian energy group Mol Nyrt. improved the profit guidance for 2015 after its refining unit helped post record earnings for the three months through June. ...

New Libya oil chief considers resuming exports at eastern ports

The new head of the state oil company for eastern Libya is considering restarting exports from the region’s two largest ports and plans to boost crude output. ...

Wood Group Mustang Onshore Pipeline and Facilities business unit created, leadership team named

Wood Group Mustang has consolidated the Pipeline, Onshore and Oil Sands business units into the Onshore Pipeline and Facilities (OPF) business unit, which provides oil and gas processing, transportation, and field services. ...

Petrotechnics launches new competency and training centre

Petrotechnics celebrates the opening of its state-of-the-art competency and training centre. Located at the company’s Aberdeen headquarters, the new facility will address changing demands for operations excellence training in hazardous industries, including oil and gas, chemical and rail. ...

Veolia selected by Dolphin Energy for a multi-million dollar industrial water management project in Qatar

Veolia Water Technologies will engineer, procure and deliver an industrial wastewater management system including its proven HPD evaporators used for KHI removal and distillate recovery at Dolphin Energy’s natural gas production and processing facilities in Ras Laffan, Qatar. ...

Sonomatic to biuld a new multi-disciplined NDT base in Aberdeen

Sonomatic announces its plans to build a brand new multi-disciplined facility that will allow the company to cover the entire range of NDT Inspections. ...

Breitling Energy announces new 14-well development program

Breitling Energy Corporation announces a new non-operated 35% participation in a 14-well developmental drilling program in West Texas, with the first spudding on Aug. 5. ...

Presidential candidates urged to outline their vision for America's energy future

The American Petroleum Institute has urged candidates at the upcoming presidential debates to outline their vision for harnessing the economic and national security opportunities created by America’s energy revolution. ...

qedi opens Abu Dhabi office

LONDON -- qedi, a leading completions, commissioning and technology provider, has opened an inaugural office in Abu Dhabi and appointed Naveen Adusumilli as qedi’s general manager for the Middle East. ...

Mexico pipeline boom fueled by Texas drillers

Tumbling crude prices have damped prospects that the Mexican oil-drilling laws adopted last year will spur an investment boom. Instead it’s the surge in gas-pipeline construction that’s attracting foreign capital, expanding the market for U.S. gas producers and meeting growing demand from Mexican manufacturers and power plants. ...

Venezuela’s lake of endless oil a lawless mess

For nearly a century, the petroleum deposits beneath giant Lake Maracaibo served as a cash cow for successive Venezuelan governments. In return, especially in the years since the company’s energy industry was nationalized by former President Hugo Chavez, it has received little back but neglect. ...

Gazprom Neft’s exports of Siberian crude reach 10 million tonnes

Following the supply of a further 100,000 tonnes of East Siberian Pacific Ocean (ESPO) crude to the Chinese market in July, total volumes of ESPO crude exports by Gazprom Neft since the commencement of supplies have now reached 10 million tonnes. ...

Statoil passes 100 MMbbl of production from Brazil's Peregrino field

After just four years in production, Peregrino field, in the Campos basin offshore Brazil, has passed a significant milestone, with 100 MMbbl of oil produced since April 2011. ...

Darcy proves new sand control technology with Statoil installation

Sand control engineering specialist Darcy is gearing up for global interest in its downhole Hydraulic Screen following a successful installation in Statoil’s Statfjord oil field in the Norwegian Sector of the North Sea. ...

Devon Energy appoints new president, CEO

Devon Energy’s board of directors has elected Dave Hager, most recently Devon’s COO, as the company’s new president and CEO. ...

Gazprom Neft’s exports of ESPO crude reach 10 million tonnes

Following the supply of a further 100,000 tonnes of East Siberian Pacific Ocean (ESPO) crude to the Chinese market in July, total volumes of ESPO crude exports by Gazprom Neft since the commencement of supplies have now reached 10 million tonnes. ...

Team Oil Tools buys Odessa Packer Services

Team Oil Tools has acquired all the outstanding shares of Odessa Packer Services (OPS). ...

BP awards Clair Ridge contract to Cape

BP has awarded Cape plc a new contract for the Clair Ridge project, with further future phases added over the next 18 months. ...

Statoil marks 100 MMbbl production from Brazil's Peregrino field

After just four years in production, the Peregrino field in the Campos basin offshore Brazil has passed a significant milestone, with 100 million barrels of oil produced since April 2011. ...

Nigeria to lose billions without oil sales reforms, report says

Nigeria must urgently reform the way it sells oil to prevent Africa’s biggest crude producer losing billions of dollars of revenue, according to a new report. ...

Oil’s drop below $50 may be just the start as demand swoons

Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon. ...

WTI near 4-month low after Brent falls below $50 on Iran

Oil in New York held near a four-month low after Brent crude slumped below $50/bbl for the first time since January on Monday as Iran pledged almost an immediate output increase after sanctions. ...

Shell's Polar Pioneer starts Arctic drilling operations

Shell's Polar Pioneer rig has started drilling operations in the Chukchi Sea, offshore Alaska. ...

Ceona joins forces with Interoil Angola

Ceona has expanded its West African reach after entering into a strategic partnership with Interoil Angola Lda. ...

Kurdish oil producers DNO, Genel gain on export pledge

DNO ASA and Genel Energy Plc shares surged after the regional government of Iraq’s northern Kurdish region said it would start paying them for oil exports next month. ...

ONEOK Partners to further expand Permian basin capacity to serve markets in Mexico

ONEOK Partners, L.P. has announced plans to invest $70 million to $100 million to expand its ONEOK WesTex Transmission (ONEOK WesTex) intrastate natural gas pipeline system by increasing its throughput capacity by 260 MMcfd of natural gas by the first quarter of 2017. ...

Halliburton certifies substantial compliance with DOJ second request

Halliburton announced Sunday that it has certified substantial compliance with the U.S. Department of Justice’s (DOJ) request for additional information (second request). ...

BASF, Gazprom sign memorandum to expand Nord Stream pipeline

BASF subsidiary Wintershall is to participate in expanding the capacities of the Nord Stream pipeline, which delivers Russian natural gas to European customers via the Baltic Sea. ...

Ceona join forces with Interoil Angola

Ceona has expanded its West African reach after entering into a strategic partnership with Interoil Angola Lda. ...

U.S. oil seen trading above global prices next year in BofA view

CHARLOTTE, North Carolina (Bloomberg) -- U.S. crude may temporarily rise above the global benchmark Brent next year as Middle East output expands while the nation’s supply boom fades, according to Bank of America Corp. ...

Fugro bags BG contract for geochemical campaign offshore Honduras

Fugro has been awarded a contract by BG International Ltd. Sucursal Honduras to conduct an integrated multibeam echosounder survey and seabed coring campaign over its offshore acreage in the Honduran Caribbean. ...

BG Group initiates production from Cidade de Itaguaí FPSO, offshore Brazil

BG Group has announced first oil from the Cidade de Itaguaí FPSO vessel, the sixth unit to start production across the group's significant discoveries in the Santos basin, offshore Brazil. ...

Iran oil minister says output to rise a week after sanctions

Iran can boost oil production in one week after international sanctions are lifted, and OPEC’s refusal to accommodate Iran in export markets would result in lower crude prices, Oil Minister Bijan Namdar Zanganeh said. ...

Oil CEOs’grim outlook rubs off on speculators fleeing market

The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. ...