Exxon’s ‘leaner ship’ floats higher than rivals in oil downturn

Decades of financial discipline that honed Exxon Mobil into the leanest, most-efficient oil company in the world are paying off as it navigates the worst market slump since the 1980s. ...

Iran seen jolting oil market with 90-day supply after sanctions

Iran may roil global oil markets with plans to sell about 45 MMbbl of fuel stored in tankers in the Persian Gulf within three months of the removal of sanctions on its economy, according to analysts. ...

Chevron cuts jobs, spending, growth target as slump persists

Chevron Corp. said its cutting about 10% of its workforce and scaled back its long-term production target amid the worst oil-market slump since the 1980s, even as the company posted third-quarter profit that surpassed analysts’ expectations. ...

Equatorial Guinea expands scope of major crude oil and petroleum tank farm project

The Ministry of Mines, Industry and Energy, representing the Government of Equatorial Guinea, announced today that it has signed a Memorandum of Understanding (MOU) with three companies to build a crude oil and petroleum products storage tank farm on Bioko Island, Equatorial Guinea. ...

Husky Energy considers selling assets after cutting jobs

Husky Energy Inc. plans to keep cutting jobs after eliminating 1,400 positions, the most disclosed by a Canadian energy company in the oil-price slump. ...

Exxon beats estimates as refining profit doubles amid oil slide

Exxon Mobil Corp. posted higher-than-expected profit as soaring margins on processing oil into fuels blunted the impact of collapsing crude markets. ...

Apache announces North Sea discoveries totaling 50-70 MMboe

Apache Corp. has announced significant discoveries on two exploration wells in the Beryl area of the UK North Sea. The company also drilled two significant development wells in the Beryl area, from which no reserves have been previously booked. ...

DNV GL launches decision support tool for BOP retrieval

Retrieving an unreliable blowout preventer (BOP) is a necessary but expensive operation, costing upwards of one or two million dollars and can easily double in developing ultra-deepwater regions. ...

Statoil to explore offshore South Africa with farm-in deal

...

Sasol awarded on- and offshore blocks in Mozambique licensing round

Sasol has confirmed that two of its three applications in Mozambique's 5th Licensing Round were successful. ...

Subsea 7 announces collaboration agreement with Centrica

Subsea 7 has announced the award of a long term agreement with Centrica to provide support to Centrica throughout early phase Concept engineering, FEED, SURF project execution and Life of Field operations on an exclusive basis. ...

Shell leads $19 billion of gas, oil write-downs in just one week

More than $19 billion in oil and gas write-downs have been reported in a single week as producers acknowledge what investors already knew. ...

Canadian oil sands reviews alternatives to Suncor’s hostile bid

Canadian Oil Sands Ltd., the largest owner of the Syncrude venture in northern Alberta, said it’s considering alternatives to Suncor Energy Inc.’s C$4.3 billion ($3.3 billion) hostile takeover bid and has already had interest from possible suitors. ...

Oil producers curb megaproject ambitions to focus on U.S. shale

Big U.S. oil companies are starting to think small. ...

Oil companies have cut back everything except crude production

A year after the bear market in crude began; oil companies have cut workers, are using fewer rigs and have less money to spend. ...

Crude extends slide below $50 as producers report further pain

Crude was poised to end its fourth month below $50/bbl amid a global glut that’s showing no signs of relief for oil and gas companies that posted more than $19 billion in write downs in a single week. ...

BG profit beats estimates as it raises production forecast

BG Group Plc, which agreed to be acquired by Royal Dutch Shell Plc in April in the year’s biggest energy deal, reported third-quarter earnings that beat analysts’ estimates after it raised oil and natural gas production. ...

China's oil giants lost almost all profits amid crude crash

The plunge in crude prices all but killed profits at China’s top energy producer and its largest oil refiner. ...

Despite corruption probes, Brazil will drive FPSO industry growth to 2019: GlobalData

Brazil will lead global growth in the Floating Production, Storage and Offloading vessel (FPSO) industry despite the country’s national oil company, Petrobras, recently facing allegations of corruption, research and consulting firm GlobalData said. ...

Marathon Oil is first major shale producer to cut dividend

Marathon Oil Corp. became the first major shale producer to cut its quarterly dividend, reducing it by 76% in an effort to prop up cash holdings as oil prices hold below $50/bbl. ...

Chevron reports successful appraisal of Anchor discovery in deepwater GoM

Chevron Corp. has announced the successful appraisal of the deepwater Anchor discovery in the Lower Tertiary Wilcox Trend in the Gulf of Mexico. ...

Noble announces early production start at Big Bend in deepwater GoM

Noble Energy announced Wednesday that the Big Bend oil development in the deepwater Gulf of Mexico commenced production on Oct. 26. ...

Chevron reports successful appraisal of Anchor discovery in deepwater Gulf of Mexico

Chevron Corp. has announced the successful appraisal of the deepwater Anchor discovery in the Lower Tertiary Wilcox Trend in the Gulf of Mexico. ...

Noble announces early production start at Big Bend in deepwater Gulf of Mexico

Noble Energy announced Wednesday that the Big Bend oil development in the deepwater Gulf of Mexico commenced production on Oct. 26. ...

Coretrax completes pioneering decommissioning contract with Hess

Coretrax has successfully completed an extensive three year decommissioning contract with global operator Hess Corporation for the first designated abandonment campaign of its kind. ...

Shell has biggest loss in more than a decade on price slump

Royal Dutch Shell Plc reported its biggest net loss in more than a decade after halting some operations and lowering its oil-price expectations, resulting in a $7.89 billion charge. ...

‘Too low’ crude prices seen rising to $80 in 2018 by Statoil

Crude prices that have almost halved in the past year are unsustainable at current levels as cuts to investments and postponement of projects will lead to a decline in supply growth, according to Norway’s biggest oil company. ...

ConocoPhillips reports loss as oil crash limits shale growth

ConocoPhillips reported its widest loss in more than six years as a crash in oil and gas prices tempered growth from Texas to Canada. ...

Advantek Waste Management Services appoints David J. Hayes as new board member

Advantek Waste Management Services has announced that David J. Hayes has joined its Board of Directors. ...

Genel Energy sells 20% interest in Kurdistan PSC

Genel Energy has announced the sale of a 20% participating interest in the Chia Surkh Production Sharing Contract, in the Kurdistan region of Iraq, to Petoil Inc. ...

Sandvik boosts presence in South America to be closer to customers

Sandvik, developer and producer of advanced stainless steels, special alloys, titanium and other high-performance materials, has announced the opening of its South American hub in Rio de Janeiro to better meet the needs of clients such as Petrobras and service companies. ...

Wood Group wins new global subsea contract with BP

Wood Group has secured a new multi-million-dollar contract to provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan. ...

WandT Offshore brings Big Bend field online

WandT Offshore has initiated production from "Big Bend" in Mississippi Canyon 698 and it will be ramping up to full rates over the next few weeks. ...

Bechtel and Chart partner for development of floating LNG facilities

Bechtel and Chart Energy and Chemicals have signed a long-term agreement to design and build floating LNG (FLNG) process facilities using Chart's IPSMR liquefaction technology. ...

Subsea UK to build regional hub in south of England

Subsea UK is looking to establish a regional hub in the south of England to promote business in that sector. ...

CGG to promote 11th licensing round for Gabonese Republic’s Ministry of Petroleum and Hydrocarbons

CGG has been appointed as technical consultant by the Gabonese Republic’s Ministry of Petroleum and Hydrocarbons to help with the promotion of its 11th Licensing Round focusing on five highly prospective deepwater blocks. ...

Coretrax completes decommissioning contract with Hess Corporation

Coretrax has successfully completed an extensive three year decommissioning contract with global operator Hess Corporation for the first designated abandonment campaign of its kind. ...

Pemex reports biggest loss ever as oil price slams profits

The decline in international oil prices handed Petroleos Mexicanos its biggest quarterly loss in company history. ...

Oil explorers prepare for another year of depressed prices

The biggest oil explorers to post earnings so far are bracing for another year of deep spending cuts as the slump in energy markets shows no signs of abating. ...

Hess slashes 2016 drilling budget 27% on oil swoon

Hess Corp. plans to cut spending by about 27% next year after its oil and natural gas business lost more than $2 million a day during the third quarter. ...

Cnooc revenue tumbles as oil rout overpowers output boost

Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a 32% decline in third-quarter sales as slumping oil prices overwhelmed a boost in production and a cut in spending. ...

Oil at $60 is the magic number for BP in prolonged downturn

For Europe’s biggest oil companies, $60 is the magic number. ...

Eni sells Saipem stake to Italy’s FSI to reduce debt burden

Eni SpA agreed to sell a stake in oil- services company Saipem SpA to Fondo Strategico Italiano SpA in an effort to get its debt off the balance sheet. ...

Shell shelves Alberta oil-sands project after leaving Arctic

Royal Dutch Shell Plc made its second major strategic change in as many months, saying it will take a $2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling program. ...

Brazil bust said to spur Schlumberger to boost Venezuela staff

Cutbacks by Brazil’s state oil company has one of its main suppliers exporting local talent to an unlikely location: Venezuela. ...

Natural gas needs bone-chilling winter to avoid 1990s-era prices

The average price for natural gas in the U.S. this year is now the lowest since Bill Clinton was president. And a forecast for a warm winter ahead means there’s no end in sight to the slump. ...

Oil Search CEO says ‘business as usual’ as Woodside bid lingers

Oil Search Ltd. Managing Director Peter Botten says it’s “business as usual” for the oil and gas producer amid the standoff with spurned suitor Woodside Petroleum Ltd. ...

Statoil quarterly profit falls 60% after crude collapse

Statoil ASA, Norway’s biggest oil company, said third-quarter earnings fell 60% as the average crude price in the period dropped to the lowest since 2009. ...

Haze cuts Indonesia's oil production as pollution affects workers

Indonesia’s forest fires are cutting the country’s crude oil production and briefly shut a BP Plc gas plant this month, in the first signs the haze pollution is affecting industry. ...

New LNG supply will test global gas floor price: Wood Mac

Wood Mackenzie has outlined the key levers which will determine the global gas floor price as the market absorbs a wave of LNG in a new report prepared for Gastech 2015 ...

U.S. plans to sell down strategic oil reserve to raise cash

The U.S. plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday night by the White House and top lawmakers from both parties. ...

Oil market may need to wait until 2016 for Iran supply boost

Iran’s crude exports are likely to remain restricted until the first half of next year, when it’s “reasonable” to expect international sanctions against the OPEC producer to be lifted, according to a U.S. government official. ...

Technip to supply first flexible pipes for Libra pre-salt field in Brazil

Technip was awarded a substantial (ranging from $110 to $276 million) contract from Libra Oil and Gas BV. ...

BP profit beats estimates as CEO plans deeper cost cuts

BP Plc third-quarter profit beat analysts’ estimates, boosted by refining profit, as CEO Bob Dudley laid out a plan for deeper cost cuts to withstand low prices. ...

GE announces investment in Indonesia’s oil and gas sector

GE has announced that it will invest up to $1 billion in the power, oil and gas, and healthcare sectors to support Indonesia’s accelerated economic growth. ...

U.S. natural gas heads toward $2 as stockpiles near record

U.S. natural gas extended its decline toward $2 per million British thermal units as a glut of the power- plant and heating fuel nears a record. ...

Santos said to get $1.1 billion bid for Australia gas fields

Santos Ltd., which last week rejected a $5.2 billion takeover offer, has received a binding bid from Quadrant Energy Pty for Australian oil and gas fields the companies jointly own, people with knowledge of the matter said. ...

BP profit drops 40% on lower oil prices, beating estimates

BP Plc reported a 40% drop in earnings in the third-quarter after average crude oil prices dropped to the lowest since 2009. ...

Ecopetrol taking over Rubiales operations from Pacific in 2016

Ecopetrol SA said it will take over the operation of the Rubiales field, Colombia’s largest, at the end of its contract with Pacific Exploration and Production Corp. in mid-2016. ...

LAGCOE ’15: Foster Marketing celebrates 35th anniversary of oilfield marketing services

Longevity is rare in the oilfield these days. Therefore, Foster Marketing’s 35th anniversary is of special significance to the industry that is identified with continual mergers and acquisitions. ...

Algeria backs Venezuela on OPEC, non-OPEC summit to boost prices

Algeria supports Venezuela’s call for a summit among heads of state from OPEC and other oil-exporting nations in a bid to lift crude prices, Algerian Foreign Minister Ramtane Lamamra said. ...

U.S. gas set to enter global market as flood of supplies looms

Cheniere Energy Inc. plans to ship the first liquefied natural gas cargo from the U.S. in January, joining a flood of supplies that’ll allow buyers access to cargoes from all corners of the world. ...

Energean appoints new country manager for Egypt, plans seismic survey

Energean Oil and Gas has appointed Dr. Medhat Tarakhan as country general manager in Egypt. ...

CIG Logistics opens eighth rail terminal to service energy industry

CIG Logistics, an industry-leading oil and gas logistics provider, has opened a new rail terminal in Navasota, Texas, to provide transportation, transloading and storage services for energy and construction industries in Southeast Texas. ...

Chicap launches binding open season for Blue Island Lateral expansion

Chicap Pipe Line Company has announced a binding open season to solicit firm commitments from shippers for expanded capacity on the Blue Island Lateral from Blue Island to Mokena, Ill. ...

Oil speculators make ‘easy’ bearish call at 85-year supply high

Hedge funds placed the most bets on falling oil prices since July as rising piles of crude dashed hopes of a near-term recovery. ...

Transocean delays delivery of two ultra-deepwater drillships

Transocean has announced a mutual agreement with its customer, Shell EP Wells Equipment Wells Services, and the shipyard, Daewoo Shipbuilding and Marine Engineering Co. (DSME), to delay the operating and delivery contracts of two newbuild ultra-deepwater drillships—the Deepwater Pontus and the Deepwater Poseidon—by 12 months each. ...

WPX Energy promotes Clay Gaspar to COO

WPX Energy has promoted Clay M. Gaspar to senior V.P. and COO, effective Nov. 2, 2015. ...

Foxtrot International starts production from second platform offshore Côte d'Ivoire

RAK Petroleum, the Oslo-listed oil and gas investment company, has announced the commencement of production by operator Foxtrot International from a second platform on Block CI-27 offshore Côte d'Ivoire. ...

Lundin in gas discovery offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum has made a small gas discovery with the Mengkuang-1 exploration well in license PM307, offshore Malaysia. ...

Duke Energy to acquire Piedmont Natural Gas for $4.9 billion

Duke Energy Inc. agreed to acquire Piedmont Natural Gas Co. for $4.9 billion in cash. ...

Maersk Oil to cut up to 12% of jobs as slump drags on

Maersk Oil announced its intention to implement workforce reductions amounting to 10% to 12% of roles across its business on Monday. ...

Proserv seals contract for Johan Sverdrup work

Proserv has secured a contract with a value of more than 20 million NOK (about $2.4 million) to provide topside control equipment at one of the largest field discoveries on the Norwegian Continental Shelf. ...

Maersk will cut up to 12% of oil jobs after prices slump

A.P. Moeller-Maersk plans to cut as much as 12% of its global oil unit workforce amid lower crude prices. ...

Lundin Petroleum makes small gas find offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum has made a small gas discovery with the Mengkuang-1 exploration well in license PM307, offshore Malaysia. ...

Foxtrot International initiates production from second Côte d'Ivoire offshore platform

RAK Petroleum, the Oslo-listed oil and gas investment company, has announced the commencement of production by operator Foxtrot International from a second platform on Block CI-27 offshore Côte d'Ivoire. ...

Woodside CEO plays waiting game in Oil Search takeover quest

Woodside Petroleum Ltd. CEO Peter Coleman sees more time, not money, as the key to securing a takeover of Oil Search Ltd. ...

Oil swings near 4-week low as rig data balances China rate cut

Oil swung between gains and losses near the lowest closing price in almost four weeks as investors weighed a slowing pace of U.S. drilling-rig reductions against an interest rate cut in China. ...

Oil caps biggest weekly loss since August as supply glut deepens

Oil capped the biggest weekly decline since August as expanding U.S. crude stockpiles exacerbate a global glut. ...

CSSC, Zentech sign LOI for two mobile offshore units

CSSC Huangpu Wenchong Shipbuilding Company Limited has received a Letter of Intent from Zentech Inc. of Houston for the building of two Z-210 mobile offshore units. ...

GE Oil and Gas expands services pact with Cheniere’s Corpus Christi LNG

GE Oil and Gas signed a $610-million agreement with Corpus Christi Liquefaction, a subsidiary of Cheniere Energy, to provide spare parts and planned inspections, maintenance services and technical support for the gas turbines and refrigerant compressors on the first two LNG trains currently under construction at the Cheniere’s LNG export facility in Corpus Christi, Texas. ...

BLM approves first federal production well in National Petroleum Reserve

The Bureau of Land Management (BLM) has approved a drilling permit and offered a right-of-way grant (ROW) for the proposed Greater Mooses Tooth Unit oil and gas development project (GMT1), opening the way for the first production of oil and gas from federal land in the National Petroleum Reserve in Alaska (NPR-A). ...

Gazprom Neft introduces new technology in seismic modeling

Gazprom Neft has started using “ray trace” modeling technology in its seismic surveys. The outcomes of initial testing at Novoportovskoye field led to the decision being taken to implement the technology throughout all fields operated by Gazprom Neft. ...

TGS acquires Digital Petrodata

TGS announced Friday that its Geological Products division purchased all the outstanding shares of Digital Petrodata LLC. ...

NPD commissions study on unmanned wellhead platforms

A new study will look into the benefits and disadvantages of unmanned wellhead platforms, the Norwegian Petroleum Directorate said Friday. ...

Halliburton’s Baker deal faces Australian regulatory hurdle

Halliburton Co.’s proposed purchase of Baker Hughes Inc. faces further regulatory scrutiny after Australia’s competition watchdog raised concerns that the $34.6-billion deal would shrink the number of suppliers for oilfield goods and services, particularly for offshore drilling. ...

BHP seen approaching an MandA ‘sweet spot’ in hunt for deals

BHP Billiton Ltd. is snapping up oil-exploration prospects from the U.S. to Australia and flagged this week that it’s seeking to make more similar investments. There’s speculation it’ll also target deals for operating wells and mines. ...

Beach Energy agrees to buy Drillsearch for $277 million

Beach Energy Ltd. agreed to pay A$384 million ($277 million) in stock to acquire Drillsearch Energy Ltd. to increase its exposure to energy assets in Australia’s Cooper basin. ...

BLM approves first federal production well in the National Petroleum Reserve

The Bureau of Land Management (BLM) has approved a drilling permit and offered a right-of-way grant (ROW) for the proposed Greater Mooses Tooth Unit oil and gas development project (GMT1), opening the way for the first production of oil and gas from federal land in the National Petroleum Reserve in Alaska (NPR-A). ...

GE Oil and Gas signs expanded contract service agreement with Cheniere Energy

GE Oil and Gas has signed a $610 million agreement with Corpus Christi Liquefaction, a subsidiary of Cheniere Energy, to provide spare parts and planned inspections, maintenance services and round-the-clock technical support. ...

C-Innovation ROVs on track with Sonardyne SPRINT INS

C-Innovation, an integrated marine services company, has placed a major order for SPRINT Inertial Navigation Systems (INS) from Sonardyne International Ltd. ...

Wison Offshore and Marine achieves keel-laying of first China-made FSRU

Wison Offshore and Marine Ltd. has announced that a ceremony was held to celebrate the keel-laying of the EXMAR FSRU project, a barged-based floating LNG regasification unit, in the dry-dock of Wison Offshore and Marine. ...

Emerson launches new wireless-based corrosion monitoring system

Emerson Process Management has launched an innovative new corrosion monitoring system for refineries. ...

Pre-salt production tops 1 MMboed, Petrobras says

Production of oil and natural gas from facilities operated by Petrobras in the pre-salt layer exceeded 1 MMboed during September, with output averaging 1.028 MMboed, and reaching a record level of 1.12 MMboed on Sept. 15. ...

Third-quarter completions down 44% year-on-year: API

Estimated total U.S. oil and natural gas well completions decreased by 44% in the third quarter of 2015 compared to year-ago levels, according to API's 2015 Quarterly Well Completion Report, Third Quarter. ...

Exxon Mobil hits back over inaccurate, misleading climate research stories

Media and environmental activists’ allegations about Exxon Mobil’s climate research are inaccurate and deliberately misleading, the company said in a statement Wednesday. ...

ABB completes Troll A platform's second power-from-shore system

ABB has delivered its second power-from-shore system to Troll A, the world's largest offshore gas platform, which is operated by Statoil and located in the North Sea about 70 km west of the Kollsnes onshore gas treatment plant, outside Bergen. ...

Exxon Mobil’s deepwater Liza find could put Guyana-Suriname basin on the map

With Exxon Mobil reported to be moving the Liza discovery in deepwater Guyana into pre-Front-End Engineering Design (FEED) less than five months after confirming the find, the project has the potential to yield significant returns for investors, according to GlobalData. ...

Offshore still cheaper than shale while oil sands struggle: Rystad

STAVANGER, Norway -- Offshore resources remain attractive for new production with a breakeven price within the range of $60-65/bbl, concludes Rystad Energy’s in-depth October study of more than 20,000 non-producing liquid fields. ...

Oil and wind join forces in DNV GL-led JIP

The concept of using wind power for offshore oil and gas applications is one step closer to realization. ...

Technip awarded subsea contract for the Layang development offshore Malaysia

Technip has been awarded a subsea contract by JX Nippon Oil and Gas Exploration (Malaysia) Ltd. for Layang field, Block SK10, offshore Sarawak, Malaysia. The field has a water depth of 85 m. ...

Caofeidian 6-4 confirmed as mid-sized oil field, CNOOC says

CNOOC announced Thursday that the Caofeidian 6-4 oil structure in Bohai, discovered in 2014, has been appraised and confirmed as a mid-sized oil field. ...

CGG to start 3D survey in Brazil’s Barreirinhas basin

CGG announced Thursday that it has now received all necessary permits to start acquiring the industry’s first regional broadband seismic survey of the Barreirinhas basin in the Equatorial Margin of northern Brazil in early November. ...

Santos rejects $5.15-billion bid from royal asset manager

Santos Ltd., the third-largest oil and gas company in Australia, rejected a A$7.14 billion ($5.15 billion) takeover offer from an advisory firm that manages assets for Middle Eastern and Asian royals as too low and “opportunistic.” ...

Monster gas field revival sets Norway up for output record

The Troll A platform rocks like a boat as North Sea waves pound its four gigantic concrete legs, but monitors inside the control room show a steady flow of natural gas continues unabated—enough to meet the needs of 10 million homes in Europe. ...

Baker Hughes expects less drilling as it reports $159-million loss

Baker Hughes expects activity in North America to fall this quarter, the company said as it reported a loss of $159 million, or 36 cents per share, for the quarter ended Sept. 30. ...

U.S. offering another $1 billion for advanced energy technology

The U.S. Energy Department is offering another $1 billion to companies developing innovative energy systems, Secretary Ernest Moniz will announce Wednesday. ...

BP agrees to $10 billion deal to supply LNG to China Huadian Corp.

BP Plc agreed to supply liquefied natural gas to China Huadian Corp. in a deal worth as much as $10 billion over two decades. ...

Crude oil declines as U.S. inventories grow most in six months

Oil fell after a government report showed U.S. crude inventories grew by the most in six months. ...

Drillship fatality halts work on Chevron-operated block in Gulf of Mexico

HOUSTON -- A Pacific Drilling employee has been fatally injured on the Pacific Santa Ana drillship in the U.S. Gulf of Mexico. ...

Wood Group Kenny appoints operations V.P. in Houston

HOUSTON -- Matt Kirk has joined Wood Group Kenny as V.P. of operations, bolstering the regional leadership team in the Americas. ...

Ophir kicks off exploration drilling program in Gulf of Thailand

Ophir Energy has commenced its two well exploration drilling program in Block G4/50, in the western Gulf of Thailand, with the spud of the G4/50-10 exploration well on the Soy Siam prospect, the London-based company announced Monday. ...

EMGS nets $7-million contract extension for oil company in Malaysia

Electromagnetic Geoservices (EMGS) has signed a contract extension, worth approximately $7 million, with an oil company in Malaysia. ...

Worst of oil slump over as glut seen shrinking, asset manager says

The worst of the oil-price slump is behind us, according to a unit of Europe’s biggest asset manager. ...

Landmark, CGG announce geoscience technology collaboration

Landmark, a Halliburton business line, and CGG announced a geosciences technology collaboration on Wednesday. ...

EMC enhances leadership team to boost its remote mission-critical communications and content

EMC announces it has appointed several established executives to its global leadership team to further enhance its delivery of mission-critical communications and content to top organizations around the world. ...

EMC enhances leadership team to enhance its remote mission-critical communications and content

EMC announces it has appointed several established executives to its global leadership team to further enhance its delivery of mission-critical communications and content to top organizations around the world. ...

Post Oak Energy, Ceja Corporation make $75 million capital commitment to Rimrock

Post Oak Energy Capital and Ceja Corporation have announced a $75 million capital commitment to Rimrock Resource Partners. ...

Updated guidelines reflect industry best practice in well operations: Oil and Gas UK

Oil and Gas UK publishes the second issue of its guidelines on the qualification of materials for the abandonment of wells. ...

Weatherford investors seek ‘more boring’ from oilfield servicer

Weatherford International Plc shareholders are asking the company for one thing this quarter: Please, just be a little more boring. ...

After year of pain, OPEC close to halting U.S. oil in tracks

After a year suffering the economic consequences of the oil price slump, OPEC is finally on the cusp of choking off growth in U.S. crude output. ...

Global Tubing delivers record-breaking coiled tubing string

On October 5, 2015, Global Tubing, LLC delivered its second record‐breaking coiled tubing string to the Port of Houston where it awaits transport to the Middle East. ...

Iran plans 20-year contracts as incentive for energy investments

Iran will pay foreign oil companies larger fees than it did under previous buyback contracts to attract $100 billion of investments needed to rebuild its energy industry. ...

Oil rebounds from two-week low ahead of government supply data

Oil rebounded from a two-week low as traders estimated a seasonal gain in U.S. crude inventories has already been priced in. ...

Schlumberger in $125-million deal for Vorteq hydraulic fracturing technology

Schlumberger Technology Corp. has signed a 15-year deal with Energy Recovery, Inc., which grants Schlumberger exclusive rights to Energy Recovery’s VorTeq hydraulic pumping system, the first hydraulic fracturing manifold (“missile”) built to isolate hydraulic fracturing pumps from abrasive proppants that cause pump failure. ...

TAM runs PosiFrac Toe Sleeve in Utica shale

TAM International—an independent oilfield services company providing inflatable packers, swellable packers, and downhole products—has announced the first run of the PosiFrac Toe Sleeve in the Utica shale. ...

U.S. Water launches new scale, corrosion inhibitors

U.S. Water, a provider of integrated solutions for process efficiency and water treatment, is introducing new ScaleGone and ScaleGone CI, a long-lasting (up to several years), slow release, solid scale inhibitor (SI) and combined SI/corrosion inhibitor (CI) for hydraulic fracturing fluids as well as use in producing wells. ...

Borets introduces AXIOM II VSD to North America

Borets, a leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has successfully introduced its AXIOM II variable speed drive (VSD). ...

ROC, AWE come up dry with Bohai Bay exploration well

AWE Ltd. announced Tuesday that ROC Oil Company (ROC), the operator of Block 09/05 in China’s Bohai Bay basin, has confirmed that the second of two planned exploration wells in the block, QK12-3-1D, reached the planned total depth of 3,600 m MDRT (measured depth below the rotary table) at 03:00 AEDT on Oct. 18, 2015. ...

Wood Group wins $31-million coalbed methane contract in U.S.

ABERDEEN, United Kingdom -- Wood Group has been awarded a $31-million contract by Carbon Creek Energy on their coalbed methane asset in the Powder River basin in Wyoming. ...

Genel cuts 2015 oil output forecast on Iraq payment delays

Genel Energy Plc, an oil producer in Iraqi Kurdistan, reduced its output forecast for this year after suffering delays to payments for its exports. ...

DNV GL wins in-service contract for Ichthys LNG mega project

DNV GL has secured a contract to provide in-service verification and classification services to a range of facilities at the Ichthys LNG project in Australia. ...

OPEC brings oil price war home in pursuit for Asia’s cash

When it comes to deciding how much to charge Asian oil buyers, OPEC members are showing little regard for tradition. ...

Europe’s big oil is a buy as cuts point to recovery at last

Energy companies are finally starting to come back into favor. ...

Oil bulls maintain momentum as rig cutbacks seen reducing glut

Hedge funds increased bullish oil wagers on speculation that falling investment will diminish the global supply glut. ...

Halliburton cuts more jobs as fracing hit worst in downturn

Halliburton Co. cut another 2,000 jobs in the past month as the worst oil market slump in decades saps demand for work at the world’s largest provider of fracing services. ...

Aqualis Offshore signs up to Decom North Sea

Aqualis Offshore UK Ltd has joined Decom North Sea (DNS) – the industry trade body to promote decommissioning and reuse opportunities throughout the supply chain. ...

TGS reaches 25% acquisition progress mark on Gigante seismic program

TGS announced that it has acquired 46,500 km (25%) of the 186,000 km 2D seismic project, Gigante. ...

Halliburton sales drop 36% as oil downturn reduces fracing

Halliburton Co.’s revenue dropped by 36%, pushing the world’s largest provider of fracing services to a third-quarter loss as the worst crude-market downturn in decades reshapes the industry. ...

Aker Solutions, MAN Diesel and Turbo form subsea compression alliance

Aker Solutions and MAN Diesel and Turbo have agreed to form an alliance to develop the next generation in subsea compression systems that can be used at even the smallest oil and gas fields to increase recovery and lower costs compared with conventional platform solutions. ...

Frac truck boneyards: DW Monday

In the desert of New Mexico, just forty miles from producing wells in Artesia, lies an aircraft boneyard filled with the remains of once great aeroplanes. ...

SBM Offshore awarded Browse FLNG turret FEED contract

Technip has awarded SBM Offshore the Front-End Engineering and Design (FEED) contract for three, large-scale turret mooring systems associated with the proposed Browse FLNG development in Australia. ...

Halliburton reports loss as producers cut work in downturn

Halliburton Co., the world’s largest fracing services provider, said it had a third-quarter loss as the volatile North American oil market continued to tumble. ...

Goodrich Petroleum Corp. names Interim CFO

Goodrich Petroleum Corp. announced Monday that it has hired Joseph T. Leary as its interim CFO. ...

Total sells a further 15% interest in Gina Krog field

Total is to sell a 15% interest in Gina Krog field, in Norway, to Tellus Petroleum, a subsidiary of Sequa Petroleum NV. The completion payment will be about $173 million (1.4 billion NOK). ...

Canadian Oil Sands rejects Suncor’s $3.3-billion hostile bid

Canadian Oil Sands Ltd. urged shareholders to reject Suncor Energy Inc.’s C$4.3-billion ($3.3-billion) hostile takeover, accusing the larger rival of undervaluing its business and exploiting undisclosed information about a partnership in making a low-ball offer. ...

Oil volatility sinks to two-month low after run at $50 fails

Expectations for swings in oil prices eased to the lowest in two months after a persisting supply glut checked crude’s advance toward $50/bbl in New York. ...

Iran urges OPEC to cut oil output to raise prices to $70-$80

OPEC member states should cut crude output to boost prices to a range of $70 to $80/bbl, Iran’s Oil Minister Bijan Namdar Zanganeh said, even as his country prepares to ramp up production in the aftermath of economic sanctions. ...

Aker Solutions and MAN Diesel and Turbo form subsea compression alliance

Aker Solutions and MAN Diesel and Turbo have agreed to form an alliance to develop the next generation in subsea compression systems that can be used at even the smallest oil and gas fields to increase recovery and lower costs compared with conventional platform solutions. ...

Saudi crude stockpiles at record high amid quest to keep share

Saudi Arabia, the world’s largest oil exporter, is storing record amounts of crude in its quest to maintain market share as it cut shipments. ...

Crude rises first time in 5 days as U.S. drillers idle oil rigs

Crude rose for the first time in five days on speculation that the falling number of rigs drilling for oil in the U.S. will further curb output. ...

U.S. cancels remaining Arctic offshore lease sales under Obama

In light of current market conditions and low industry interest, the U.S. Department of the Interior announced Friday that it will cancel the two potential Arctic offshore lease sales scheduled under the current five-year offshore oil and gas leasing program for 2012-2017. ...

Schlumberger now sees ‘challenging’ global oil market continuing

Three months ago, the head of Schlumberger Ltd. thought the industry had seen the worst of the U.S. oil market collapse. Now he’s not so sure. ...

EIC announces winner of Award for Supply Chain Excellence 2015

The Energy Industries Council (EIC) announced SPX Flow as the winner of the EIC Award for Supply Chain Excellence 2015, held at the EIC National Dinner last night, Oct. 15. ...

DNV GL to lead project developing end of life guidance for offshore installations

DNV GL, in collaboration with Decom North Sea (DNS), is seeking industry partners to participate in a joint industry project (JIP). The project will develop industry guidance to assist in effective and cost-efficient major accident hazard management for installations during late-life and end of life operations. ...

Norway warns of weakened chances to get exploration blocks in Barents Sea

Norway, western Europe’s biggest oil and gas producer, warned companies that failing to extract less profitable barrels could weaken their chances of getting exploration blocks in a new area of the Arctic Barents Sea. ...

Big Oil companies back agreement to prevent climate change

Ten major energy companies declared their support for a global deal to prevent climate change, but stopped short of offering unanimous backing for carbon pricing. ...

Lundin spuds well on Rolvsnes prospect offshore Norway

Lundin Norway, the wholly owned subsidiary of Lundin Petroleum has commenced drilling of exploration well 16/1-25 S on the Rolvsnes prospect in PL338C. ...

Japan island paradise helps Saudi Arabia in Asia oil push

Saudi Arabia is boosting its use of leased oil-storage tanks on a small island in a region of Japan better known for its white sandy beaches and holiday resorts. ...

In the heart of the Texas oil patch, it’s gas that’s taking off

The oiliest county in Texas has seen its new natural gas production capacity more than double as drillers home in on their most profitable acreage. ...

Rifle Shot Oil acquires Redwater area assets in Alberta

Rifle Shot Oil has completed the acquisition of assets in the Redwater area of Alberta. ...

WandT Offshore sells its Yellow Rose field in Permian basin to Ajax Resources

WandT Offshore has closed the previously announced sale of all of its interest in its Yellow Rose field in the Permian basin of West Texas to Ajax Resources. ...

Bechtel delivers first cargo of LNG for Santos GLNG project

Bechtel has announced the first cargo of Liquefied Natural Gas from the GLNG project has been successfully loaded onto the cargo vessel Seri Bakti, and began its journey to South Korea. ...

ESG Solutions acquires Spectraseis

ESG Solutions has confirmed the acquisition of Spectraseis, a provider of surface-based seismic technology and services for hydraulic fracture monitoring (HFM) and induced seismicity monitoring (ISM), through its parent organization, Spectris plc. ...

Winners of 2015 World Oil Awards honored in Houston gala

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Oil extends losses as U.S. crude supplies surge most since April

Oil extended losses after the biggest U.S. crude stockpile increase in six months bolstered speculation a global surplus will persist. ...

Wireless Seismic announces purchase of RT System 2 by Yug-Neftegaz Private Ltd.

Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Singapore-based oilfield services holding company, Yug-Neftegaz Private Limited (YNG), for seismic acquisition projects in Turkmenistan. ...

Vallourec wins order for premium drilling products from BOMCO

Vallourec and Baoji Oilfield Machinery Co. (BOMCO) have signed a contract for the delivery of 12 drill strings in sour service grade (VM105 DP SSE) equipped with VAM Express connections. ...

Vallourec wins order for premium drilling products from BOMCO

Vallourec and Baoji Oilfield Machinery Co. (BOMCO) have signed a contract for the delivery of 12 drill strings in sour service grade (VM105 DP SSE) equipped with VAM Express connections. ...

Norway opens spigots as crude price collapse erodes revenue

Norwegian oil companies are turning on the spigots to counter plunging crude prices. ...

Lloyds Register Energy, The Well Academy collaborate on well control training

Lloyd’s Register Energy’s Training Academy and The Well Academy are working together to develop a new enhanced training program for well control certification. ...

Hedging protections for North American EandP companies to plunge in 2016: IHS

Oil and gas hedging protections for North American exploration and production (EandP) companies will plunge in 2016 to just 11% of total production volumes, leaving many EandP companies at high risk of financial stress, according to new energy company performance analysis from IHS, the global source of critical information and insight. ...

New wells confirm Libra field potential: Petrobras

The consortium responsible for the Libra oil field in the Santos basin pre-salt has completed the drilling of well 3-BRSA-1310-RJS, in the central area of the block. ...

Statoil awards new Johan Sverdrup contract to Aibel

Statoil has, on behalf of the Johan Sverdrup partners, awarded Aibel in Norway the contract for construction of the converter station at Haugsneset, Norway, and required construction site work for land-based power supply to the field. ...

Talisman Sinopec awards Archer contract for platform drilling services

Archer (UK) Limited has won a three-year contract, with two times two-year extension options, for the provision of platform drilling services for Talisman Sinopec Energy UK Limited. ...

Iran is even more tempting for big oil after the price slump

The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost. ...

Repsol targets $7.1 billion of asset sales in new strategic plan

Repsol SA plans to sell 6.2 billion euros ($7.1 billion) of assets and cut investments by as much as 38% over the next five years to help it preserve dividends. ...

Kurdish oil producers rally as Gulf Keystone receives payment

Oil producers operating in the Kurdish area of Iraq rallied Thursday after Gulf Keystone Petroleum Ltd. received its second payment from the regional government for crude exports. ...

Swift-JB International launches high pressure filter assemblies

Swift-JB International has announced a line of high pressure T-Type filter assemblies. ...

Gastar Exploration acquires mid-continent interests and marketing of Appalachian basin assets

Gastar Exploration has entered into a definitive purchase and sale agreement to acquire additional working and net revenue interests from its AMI partner, Husky Ventures and certain other parties. ...

Hedging protections for North American EandP companies to plunge in 2016; picture isn’t pretty, IHS says

Oil and gas hedging protections for North American exploration and production (EandP) companies will plunge in 2016 to just 11% of total production volumes, leaving many EandP companies at high risk of financial stress, according to new energy company performance analysis from IHS, the global source of critical information and insight. ...

Oil slide means ‘almost everything’ for sale as rout deepens

More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according to IHS Inc. ...

Det norske acquires Svenska Petroleum’s Norwegian subsidiary

Det norske oljeselskap has entered into an agreement to acquire Svenska Petroleum Exploration for a cash consideration of $75 million on a cash free, debt free basis. ...

Oxy spinoff California Resources weighs asset sales to reduce debt load

California Resources Corp. is considering selling oil and natural gas fields, pipelines and processing plants to pay down debt as faltering energy prices shrink cash flow. ...

Jordan picks Shell for two-year LNG supply to meet demand

Jordan selected Royal Dutch Shell Plc to supply LNG for the next two years after a tender. ...

NCS Multistage sets world record in 52-stage Permian basin completion

NCS Multistage placed 14.1 million lb (6,395 t) of proppant in a 52-stage completion in the Permian basin, a world record for completions using coiled tubing and single-point frac injection. ...

Dr. Stephen Liu Named ABS Chair, Colorado School of Mines

ABS has announced the appointment of Stephen Liu to the American Bureau of Shipping Endowed Chair in Metallurgical and Materials Engineering at the Colorado School of Mines. ...

Technip, 3D at Depth unite to expand LiDAR technology in Gulf of Mexico

Technip USA and 3D at Depth, a provider of advanced subsea LiDAR systems and solutions, have signed a joint development agreement to expand and commercialize the LiDAR technology for subsea metrology, field survey and IRM applications. ...

Halliburton golf tournament sets new charity fundraising record

HOUSTON -- The 22nd annual Halliburton Charity Golf Tournament raised a record of more than $3 million for 43 nonprofit organizations across the U.S., making it one of the largest non-PGA golf tournament fundraisers in Texas. ...

Sinopec gets approval for $20-billion West-East gas pipeline

China Petrochemical Corp., Asia’s biggest refiner, received government approval to build an 8,400-km (5,221-mile) pipeline network to connect gas fields in northwest China to southern and eastern provinces. ...

Lukoil deepwater gas find offshore Romania could hold more than 30 Bcm

Lukoil’s Lira-1X wildcat has discovered a gas field in the Lira offshore structure, which is located on the Trident Block (EX-30), in the deep waters offshore Romania. ...

Summit ESP marks 5,000th installation

Summit ESP, an electric submersible pump systems provider, has completed its 5,000th ESP installation during the third quarter of 2015 on a well for Denbury Resources, the CHSU - ML 13-09SH in Bowman County North Dakota at a setting depth of 8,400 ft. ...

Cheniere commissioning Sabine Pass gas terminal, Bechtel says

Cheniere Energy Inc.’s Sabine Pass terminal, the first complex designed to liquefy and export natural gas from the continental U.S., is being commissioned and is on track to start producing by the end of the year, said Bechtel Corp. ...

Lukoil deep water gas find offshore Romania could hold more than 30 Bcm

Lukoil’s Lira-1X wildcat has discovered a gas field in the Lira offshore structure, which is located on the Trident Block (EX-30), in the deep waters offshore Romania. ...

Subsea 7 awarded contract offshore Egypt

Subsea 7 has been awarded a sizeable contract by Pharaonic Petroleum Company S.A.E. for the development of the East Nile Delta Phase 3 Project (END-3). ...

California Resources weighs oilfield sales to reduce debt load

California Resources Corp. is considering selling oil and natural gas fields, pipelines and processing plants to pay down debt as faltering energy prices shrink cash flow. ...

E.ON sells Norwegian EandP business to DEA for $1.6 billion

E.ON has signed an agreement to sell 100% of its shares in E.ON EandP Norge to DEA Deutsche Erdoel AG. ...

ABS names Stephen Liu as ABS Chair of Colorado School of Mines

ABS has appointment Stephen Liu to the American Bureau of Shipping Endowed Chair in Metallurgical and Materials Engineering at the Colorado School of Mines. ...

APS Technology announces the addition of new Azimuthal Gamma LWD

APS Technology, a provider of MWD/LWD, drilling optimization and vibration management products for the oilfield, has announced the addition of its new SureLog-AZG azimuthal gamma ray LWD sensor sub. ...

Pennsylvania inks cooperation agreement with West Virginia, Ohio to boost shale gas industry

Governor of Pennsylvania, Tom Wolf, has announced that Pennsylvania has entered into a three-year cooperation agreement with West Virginia and Ohio to collaborate on areas critical to maximizing economic growth in the shale gas region. ...

Texas congressman receives industry award

Congressman Lamar Smith (Republican – Texas, 21st District), chairman of the House Science, Space and Technology Committee, was honored on Monday with the presentation of the “Congressman of the Year Award” by the Texas Alliance of Energy Producers. ...

Repsol, Armstrong restructure Alaska North Slope project

Repsol and privately held Armstrong Oil and Gas have reached an agreement to strategically re-align their interests in their Alaska North Slope exploration and development venture. ...

Oil seen below $100 until 2020 by ex-IEA chief due to U.S. shale

Oil prices won’t rebound to $100/bbl before 2020 to 2025, when U.S. shale production will gradually start to decline, according to a former head of the International Energy Agency. ...

Oil and gas evaluating capital options as MLPs, IPOs drop in third quarter

Amid oil prices at record lows and potential interest rate hikes, the third quarter of 2015 saw a marked decrease in the number of North American oil and gas initial public offerings (IPOs) and master limited partnerships (MLPs). ...

RMEC increases yard by 150% to meet industry needs

Oilfield services firm RMEC has completed a significant expansion to its premises in response to the growing demand from oil and gas companies looking to rent equipment rather than purchase costly kit. ...

Oil traders targeting Iran for $1 billion in gas sales

Iran will need to import about 20% more gasoline to meet pent-up demand in the first year after economic sanctions are lifted, creating a market for some $1 billion in fuel sales from abroad, according to traders and analysts. ...

Vanguard Natural Resources closes merger with Eagle Rock Energy Partners

Vanguard Natural Resources has announced the closing of its merger with Eagle Rock Energy Partners. ...

Wireless Seismic announces purchase of RT System 2 by PT Elnusa Tbk

Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Indonesian seismic contractor, PT Elnusa Tbk (Elnusa), after comprehensive system field trials in north Sumatra, Indonesia. ...

Petrofac secures Shell training contract in Iraq

Petrofac has been awarded a multi-million dollar technical training contract with Shell Iraq, achieving their fourth win with a major operator in the country. ...

Jee secures contract extension with BP

Jee Ltd., an independent multi-discipline subsea engineering and training firm, has secured a contract extension with BP for the provision of integrity management services and in-line inspection engineering support in the North Sea. ...

Repsol drills dry well southwest of Njord field

Repsol Norge, operator of production license 642, is in the process of concluding the drilling of wildcat well 6306/5-2, the Norwegian Petroleum Directorate announced Tuesday. The well is dry. ...

Noreco announces departure of CEO

Norwegian Energy Company (Noreco) has announced that its CEO, Tommy Sundt is stepping down. ...

Oil falls to one-week low as IEA counters OPEC view on recovery

Oil slid to a one-week low in New York as the IEA’s prediction that the global surplus will persist next year countered OPEC’s view of a recovering market. ...

Oil traders targeting Iran for $1 billion in gasoline sales

Iran will need to import about 20% more gasoline to meet pent-up demand in the first year after economic sanctions are lifted, creating a market for some $1 billion in fuel sales from abroad, according to traders and analysts. ...

IEA expects Iraqi oil output to remain ‘broadly flat’ next year

Oil production from Iraq, the world’s fastest source of supply growth last quarter, will remain similar to current levels next year as the slump in crude prices and the cost of fighting Islamic State militants hamper the government’s ability to invest in new capacity, the International Energy Agency said. ...

Orlen buys oil and gas assets in Canada, Poland for $392 million

PKN Orlen SA, Poland’s biggest oil company, is expanding its Canadian and Polish operations through two $392 million acquisitions, taking advantage of plunging crude prices. ...

Oil giants to miss third-quarter profit estimates, Barclays says

The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. ...

Billionaire’s exit prompts Sri Lanka to seek new oil explorer

Sri Lanka will issue a fresh international tender for offshore oil and gas blocks after billionaire Anil Agarwal’s Cairn India Ltd. relinquished its exploration rights in the South Asian island. ...

Emerson Exchange '15: Project Certainty to reduce capital costs, schedule overages

Addressing a growing industry demand for transformational improvements in capital project execution, Emerson has launched Project Certainty, an innovative technology and engineering-based approach for improved capital efficiency and more reliable project schedules. ...

Emerson Exchange '15: Introducing Project Certainty to reduce capital costs, schedule overages

Addressing a growing industry demand for transformational improvements in capital project execution, Emerson has launched Project Certainty, an innovative technology and engineering-based approach for improved capital efficiency and more reliable project schedules. ...

Gulfport Energy, Rice Energy in Utica shale joint venture

Gulfport Energy Corporation has executed a Letter of Intent with Rice Midstream Holdings, a wholly owned subsidiary of Rice Energy, to form a midstream joint venture to develop natural gas gathering and water services assets to support Gulfport’s dry gas Utica shale development in eastern Belmont County and Monroe County, Ohio. ...

Oil falls most in three weeks as OPEC crude production climbs

NEW YORK (Bloomberg) -- Oil dropped the most in three weeks after OPEC reported that its members pumped the most crude in three years. ...

BP, Ocean Installer sign regional framework agreement

Ocean Installer has been awarded a regional framework agreement with BP for subsea work in the Gulf of Mexico (GoM) region. ...

INEOS Upstream buys North Sea gas fields from DEA

INEOS has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group. ...

INEOS buys North Sea gas fields

INEOS has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group. ...

Eni bags two licenses offshore Egypt in Mediterranean Sea

MILAN, Italy -- Eni has been awarded two new exploration licenses—North El Hammad and North Ras El Esh—offshore Egypt in the Mediterranean Sea, as a result of the 2015 EGAS bid round. ...

OMV in new gas discovery in Pakistan’s Latif Block

OMV has discovered gas in the Latif South-1 exploration well in Pakistan’s Latif exploration license, the company said Monday. ...

OPEC sees crude demand growth, hopeful for market balance

Oil demand will grow and non-OPEC supply is due to contract, OPEC Secretary-General Abdalla Salem El-Badri said, hoping to see a more balanced market in 2016. ...

North Energy farms out of Barents Sea license

North Energy has signed a sale and purchase agreement with Pure EandP Norway, whereby North Energy sells its 10% interest in PL 708 to Pure. ...

Statoil boosts Gullfaks recovery with start of subsea wet gas compressor

Statoil, in conjunction with partners Petoro and OMV, has started the world's first subsea wet gas compression system at Gullfaks field in the North Sea. ...

Eni bags two new exploration licenses in Egyptian offshore of Mediterranean Sea

Eni has been awarded with two new exploration licenses located in the Egyptian offshore of the Mediterranean Sea, North El Hammad and North Ras El Esh, as a result of the competitive 2015 EGAS bid round. ...

Nigeria state oil company reports loss in transparency report

Nigeria’s state oil company recorded a loss of 378 billion naira ($1.9 billion) in the first eight months of this year mainly because of fuel subsidy spending, it said in a publication that seeks to bring transparency to the organization. ...

Delek Group unit buys Ithaca stake to expand global activity

Delek Group Ltd., a partner in Israel’s two largest offshore natural gas fields, said a unit has acquired 20% of Canada’s Ithaca Energy Inc. for about $66 million as part of its strategy to transform itself into a global energy company. ...

OPEC’s Qatar says oil prices bottomed out, sees recovery in 2016

Global oil prices have bottomed out, with signs of a recovery seen in 2016, Qatar’s Energy Minister Mohammed Al Sada said. ...

House votes to lift U.S. oil export restrictions

The House of Representatives has voted in favor of lifting 40-year-old restrictions on exporting U.S crude oil. ...

U.S. drillers idle rigs for sixth week as oil lingers near $50

U.S. oil explorers idled rigs for a sixth week as they grapple with crude near $50/bbl. ...

API issues updated standards for hydraulic fracturing

New editions of API’s hydraulic fracturing standards provide the latest technical direction for operators working to continuously improve well integrity, groundwater protection, and environmental safety. ...

Gazprom Neft acquires new licenses in Russia’s Khanty-Mansiysk Autonomous Okrug

Gazprom Neft has acquired additional licenses for geological prospecting, exploration and development at the Yuilsky-3, Lyaminskiy-6 and Severo-Ityakhskiy-1 Blocks, all of which are in the Khanty-Mansiysk Autonomous Okrug. ...

Near-term financial risks for U.S. Independents exaggerated: Wood Mac

The high-growth business models of the U.S. Independents are being tested by low oil prices and tougher access to capital. ...

Genie Energy confirms significant find in Golan Heights

Genie Energy says preliminary evidence from the exploratory wells drilled by its Afek subsidiary in Northern Israel confirms the existence of significant quantities of oil and gas within its exploratory license area. ...

Petrofac terminates derrick lay vessel construction contract with ZPMC

Petrofac, the international service provider to the oil and gas industry, has terminated its contract with Shanghai Zhenhua Heavy Industries Company Limited (ZPMC) for JSD 6000 deepwater multi-purpose offshore vessel. ...

Saipem bags contracts from Aramco, Eni worth €600 million

Saipem has been awarded new contracts by Saudi Aramco and Eni, which are cumulatively valued at more than €600 million—approximately $681 million. ...

Lundin sells Indonesian business for $22 million

Lundin Petroleum is to sell its oil and gas assets in Indonesia to PT Medco Energi Internasional TBK. ...

Goldman Sachs: This oil rally is not going to last

Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived. ...

Cairn India said to target 18% Rajasthan oil output boost

Cairn India Ltd., the nation’s biggest onshore oil driller, is targeting an 18% increase in output from its wells in the northern state of Rajasthan in January as it revives older fields in its largest producing block, according to company and government officials. ...

Saipem bags $681 million worth new EandC offshore contracts

Saipem has been awarded new EandC offshore contracts cumulatively valued at more than $681 million (600 million euro) by Saudi Aramco and Eni. ...

85 gas projects dying on the vine as LNG’s promise falls short

Five years ago, energy companies hungry for the next big thing started planning as many as 90 terminals to send natural gas around the globe. ...

Lundin Petroleum sells its Indonesian business for $22 million

Lundin Petroleum has announced the signing of a sale and purchase agreement with PT Medco Energi Internasional TBK, to sell its oil and gas assets in Indonesia. ...

WTI surges above $50/bbl for first time since July

Oil surged above $50/bbl in New York for the first time since July on speculation that demand is picking up. ...

White House criticized over oil export veto threat

IPAA President Barry Russell called on President Barack Obama to reconsider his position, as outlined by a White House policy announcement, and direct the U.S. Department of Commerce to lift the trade restrictions on American crude oil exports. ...

White House oil export veto threat criticized

IPAA President Barry Russell called on President Barack Obama to reconsider his position, as outlined by a White House policy announcement, and direct the U.S. Department of Commerce to lift the trade restrictions on American crude oil exports. ...

Blowtorch beach, Turkey: Where old offshore rigs go to die

When offshore oil rigs reach the end of their useful lives, many head for their final resting place at blowtorch beach. ...

McDermott wins EPCI project for four jackets offshore Qatar

McDermott International has been awarded a brownfield project by Qatar Petroleum for the engineering, procurement, construction and installation (EPCI) of four wellhead jackets. ...

IPAA: White House should reconsider opposition to U.S. oil exports

IPAA President Barry Russell called on President Barack Obama to reconsider his position, as outlined by a White House policy announcement, and direct the U.S. Department of Commerce to lift the trade restrictions on American crude oil exports. ...

IPAA: White House should support crude oil exports

IPAA President Barry Russell called on President Barack Obama to reconsider his position, as outlined by a White House policy announcement, and direct the U.S. Department of Commerce to lift the trade restrictions on American crude oil exports. ...

Encana to sell DJ basin assets for $900 million

Encana’s wholly owned subsidiary, Encana Oil and Gas (USA), has reached an agreement to sell its Denver Julesburg (DJ) basin assets in Colorado to a new entity 95% owned by Canada Pension Plan Investment Board and 5% by The Broe Group. ...

Statoil reports oil spill at Statfjord field

Statoil has reported an oil leak at Statfjord field, one of the oldest producing fields on the Norwegian Continental Shelf. ...

Statoil awards Johan Sverdrup jacket contracts to Kvaerner, Dragados

Statoil, on behalf of the Johan Sverdrup license partners, has awarded contracts for two Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A. ...

Democratic senators bring bill to bar drilling off U.S. West Coast

A group of five Democratic senators has introduced legislation to permanently prohibit drilling on the Outer Continental Shelf of California, Oregon and Washington State. ...

AWE looking for new CEO as Bruce Clement prepares to step down

Bruce Clement, managing director and CEO of AWE Ltd., will step down during 2016 after five and a half years in the role. The company has commenced a search for a new CEO. ...

Eurasia Drilling gets buyout offer from management, holders

Eurasia Drilling Co., the Russian oil driller whose planned acquisition by Schlumberger Ltd. collapsed last month, said it received a buyout offer from management and shareholders. ...

Nigeria Oil contracts review adds to industry uncertainty

Plans by Nigeria, Africa’s biggest oil producer, to review offshore production contracts signed with international oil companies two decades ago, have added to uncertainty in an industry already lacking regulatory clarity, said analysts including Philippe de Pontet of Eurasia Group. ...

Oil holds near $48 as OPEC demand outlook counters supply gain

Oil traded near $48/bbl as investors weighed OPEC’s forecast for increased global demand against rising U.S. crude stockpiles and production. ...

AWE starts search for new CEO on Bruce Clement’s step down

Bruce Clement, Managing Director and CEO of AWE, will step down during 2016 after five and a half years in the role. ...

West Coast Senators introduce bill to bar Pacific Coast from offshore oil drilling

U.S. Senators Barbara Boxer (D-CA), Maria Cantwell (D-WA), Dianne Feinstein (D-CA), Patty Murray (D-WA), Ron Wyden (D-OR) and Jeff Merkley (D-OR) introduced legislation today to permanently prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington State. ...

West Coast Senators introduce bill to protect the Pacific Coast from offshore oil drilling

U.S. Senators Barbara Boxer (D-CA), Maria Cantwell (D-WA), Dianne Feinstein (D-CA), Patty Murray (D-WA), Ron Wyden (D-OR) and Jeff Merkley (D-OR) introduced legislation today to permanently prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington State. ...

Statoil awards contracts for two Johan Sverdrup jackets to Kvaerner and Dragados

On behalf of the Johan Sverdrup license, Statoil has awarded contracts for two Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A. ...

Houston federal jury clears National Oilwell Varco in employment lawsuit

A Houston federal jury this week returned a verdict in favor of National Oilwell Varco, finding no wrongdoing in an employment discrimination lawsuit filed by eight African Americans who sought $120 million in damages. ...

Logan International announces representation in Ecuador

Logan International in conjunction with Logan Oil Tools Sucursal Colombia, has announced that Energy Supply S.A. located in Quito, Ecuador has been contracted as an Independent Sales Representative for the Ecuador market as of Oct. 1. ...

Deep Down receives order for $13 million

Deep Down, an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, has received the largest order in the company's history valued at $13 million directly from a super-major operator. ...

U.S. Silica delivers record-breaking unit train

U.S. Silica Holdings has announced the delivery of a record-breaking 150-car unit train carrying over 16,500 tons of U.S. Silica White frac sand from Ottawa, IL to a transload facility serving the Permian basin. ...

Brazil oil auction sees weak demand for first blocks offered

Brazil’s first auction of oil and natural gas exploration rights in two years got off to a weak start with three of the first four basins offered receiving no bids. ...

Israeli company reports major oil find in Golan Heights

...

Transparency is key for Mexico’s deepwater block auction: GlobalData

As Mexico’s first offshore bidding round for already discovered fields saw bids significantly higher than the minimum set up by the government, adding further transparency to the process would be positive for the round as it approaches its deepwater phase, according to an analyst with research and consulting firm GlobalData. ...

Claxton, OIS improve decommissioning technology to deliver subsea well abandonment campaign

Claxton, an Acteon company, has improved the technological advantage of its Suspended Well Abandonment Tool (SWAT) by developing an extension module. ...

Re-injection well brought into operation at Prirazlomnoye field

A re-injection well has been brought into operation on the Prirazlomnaya ice-resistant offshore platform, following drilling operations by Russia’s Gazprom Burenie, Gazprom Neft announced Tuesday. ...

Pemex evacuates 85 offshore workers after gas leak

Pemex has evacuated 85 workers from a platform in the Bay of Campeche, offshore Mexico, following a gas leak. ...

Wood Group wins automation project for Kazakhstan’s Tengiz field

Wood Group has been awarded a multi-million-dollar contract by Bechtel to provide an automation solution consisting of detailed engineering, control hardware and remote instrument enclosures (RIEs) for Tengizchevroil’s (TCO’s) Crude Storage Capacity Project at Tengiz field in Kazakhstan. ...

U.S. emerging as most attractive LNG supplier to Asian markets

Recent reports by the International Energy Agency note that Canada will fail to have any LNG export projects up and running before 2020, paving the way for U.S. suppliers to dominate. ...

Bowleven appoints non-executive Chairman

Bowleven, the Africa-focused oil and gas exploration group traded on AIM, has appointed William (“Billy”) MacDonald Allan as non-executive Director and Chairman effective from Oct. 7. ...

Greene’s Energy Group names McIntosh as key account manager

Greene’s Energy Group (GEG), a diversified oil service company and leading provider of integrated testing, rentals and specialty services, has named Matt McIntosh as a key account manager to be based in Houston. ...

Strategic Petroleum Reserve is critical to national security: Murkowski

U.S. Sen. Lisa Murkowski (R – Alaska) underscored the importance of maintaining the nation’s Strategic Petroleum Reserve (SPR) at a hearing of the Senate Energy and Natural Resources Committee on Tuesday. ...

Oil set for longest rally since April as U.S. stockpiles decline

Oil headed for its longest rally in almost six months as U.S. industry data showed crude stockpiles fell in the world’s biggest consumer. ...

Suncor courts shareholders as Canadian Oil Sands seen nixing bid

Suncor Energy Inc. expects Canadian Oil Sands Ltd. to reject its C$4.3 billion ($3.3 billion) hostile takeover, so it’s striving to convince shareholders of the merits of the deal, CEO Steve Williams said. ...

Oil drillers hunker down for more pain one year into bear market

A year after oil sank into a bear market; the industry is still hunkering down for a long period of low prices, with Europe’s biggest producer seeing only the first glimpses of a recovery. ...

Big Oil deferring spending lowers costs for India's top explorer

The worst commodity slump in a generation has a silver lining for India’s state-run energy explorer. ...

Freeport-McMoRan may spin off oil and gas business

Freeport-McMoRan is undertaking a review of strategic alternatives for its oil and gas business, the Phoenix-based company said Tuesday. ...

California’s Monterey shale holds 21 MMbbl of recoverable oil: USGS

The Monterey formation in the deepest parts of California’s San Joaquin basin contains estimated mean volumes of 21 MMbbl of oil, 27 Bcf of gas and 1 MMbbl of NGL, according to the first USGS assessment of unconventional, technically recoverable resources in the Monterey formation. ...

Brazil tries to shake oil industry gloom with new bidding round

Brazil will auction crude-exploration blocks on Wednesday for the first time since a colossal corruption scandal crippled the nation’s oil industry and forced state-run Petroleo Brasileiro SA to scale back investments. ...

Pulse wins NOV contract for acoustic mooring line monitoring system in Norway

Pulse Structural Monitoring, an Acteon company, has been awarded a contract with National Oilwell Varco (NOV) Arendal in Norway to provide an acoustic mooring line subsea monitoring system to measure mooring line inclination and tension. ...

Shell sees signs of oil recovery though ‘rebalance’ to take time

More than a year after oil began to tumble, Europe’s largest oil company said the first signs of a recovery are only now starting to show. ...

Penn Virginia Corp. sells non-core South Texas assets for $13 million

Penn Virginia Corp. has sold certain non-core South Texas assets to an undisclosed buyer for gross cash proceeds of $13 million. ...

Willbros Group to sell professional services segment

Willbros Group has executed a purchase agreement for the sale of its professional services segment to TRC Companies for $130 million. ...

Freeport-McMoRan reviewing options for oil and gas business

Freeport-McMoRan is undertaking a review of strategic alternatives for its oil and gas business, the company announced Tuesday. ...

PESA names Ryan Bowley as new V.P.

...

Ikon Science announces geopressure RokDoc plug-ins for Petrel

Ikon Science has added two new RokDoc plug-ins for Petrel to its portfolio of existing tools on the Ocean platform. This latest addition contributes the first plug-ins covering geopressure data calculation, analysis and viewing to the EandP subsurface community. ...

Fugro awarded contract extension by Pemex

Fugro, in conjunction with long-time associates, Diavaz, has been awarded an extension of the ongoing offshore geophysical and geotechnical campaign by Pemex. ...

Buyers market for LNG turns tables on producers amid supply glut

Encouraged by the plunge in commodity prices, the world’s biggest buyers of LNG are demanding more say in negotiations with their suppliers. ...

Shell CEO ‘pulling out all the stops’ to safeguard dividends

Royal Dutch Shell Plc is “pulling out all the stops” to safeguard its dividend in a world where oil prices remain “lower for longer,” CEO Ben Van Beurden said. ...

Wood Group appoints Robin Watson as CEO

Wood Group has announced the appointment of Robin Watson as CEO, effective Jan. 1, 2016. ...

Oceaneering executive, Marvin J. Migura to step down to senior V.P. at the end of 2015

Oceaneering International has announced that Marvin J. Migura has decided to relinquish his position as executive V.P. effective Dec. 31. ...

Iraqi Kurds boost oil sales in push for financial independence

Iraq’s Kurdish region ramped up crude exports by 27% in September as the semi-autonomous enclave seeks greater financial independence amid a budget dispute with the federal government in Baghdad. ...

Weatherford to deploy DynaEnergetics’ well perforating system

DynaEnergetics, a business of Dynamic Materials Corporation, has entered into a Principal Partner Agreement with Weatherford International. ...

N.L. licensing area could hold 12 Bbbl of oil in place, Premier says

ST. JOHN'S, Newfoundland and Labrador -- The area covering the 11 parcels currently on offer in the Flemish Pass has an in-place oil and gas resource potential of 12 Bbbl of oil and 113 Tcf of gas, according to the Premier of Newfoundland and Labrador. ...

Study shows N.L. licensing area could hold 12 Bbbl, Premier says

ST. JOHN'S, Newfoundland and Labrador -- The area covering the 11 parcels currently on offer in the Flemish Pass has an in-place oil and gas resource potential of 12 Bbbl of oil and 113 Tcf of gas, according to the Premier of Newfoundland and Labrador. ...

BP’s record oil spill settlement rises to more than $20 billion

The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill will rise to $20.8 billion, an increase of $2 billion from an agreement reached in July, said the U.S. Department of Justice. ...

EIC appoints Chris Haynes as new president

The Energy Industries Council (EIC), the leading trade association for UK companies that supply goods and services to the energy industries worldwide, has announced the appointment of its new president Chris Haynes OBE FREng. ...

Asset Guardian Solutions completes multiple projects for North Sea operator

Asset Guardian Solutions, which specializes in protecting companies’ process critical software assets, has completed a series of three projects for a major North Sea oil and gas operator that manages and operates numerous developments in the North Sea, Norway, Algeria and Russia. ...

UAE won't let falling oil prices disrupt energy investments

The United Arab Emirates, the fourth-biggest OPEC producer, is sticking with investment projects to boost energy output even after the plunge in oil prices in the past year. ...

Suncor in $3.3-billion bid for Canadian Oil Sands

Suncor Energy has made an unsolicited offer to Canadian Oil Sands (COS) shareholders to acquire all of the outstanding shares of COS for a total consideration of approximately C$4.3 billion ($3.3 billion), Calgary-based Suncor said Monday. ...

Statoil to suspend contract for Songa Trym semisubmersible

Statoil will suspend its contract for the Songa Trym semisubmersible after it finishes its current well, Tarvos, in the North Sea, rig owner Songa Offshore announced Monday. ...

Tracking the trends in the OEMs: DW Monday

Oil prices have stabilized in the $45-50 range over the last month, however, performances of major oilfield stocks have continued to suffer. ...

R. Scott Rowe assumes top spot at Cameron

Cameron announced Monday that R. Scott Rowe has assumed the role of president and CEO in accordance with the company’s succession plan. ...

Shell starts production from Bonga Phase 3 project offshore Nigeria

Shell Nigeria Exploration and Production Company (SNEPCo) has started production from the Bonga Phase 3 project. ...

Oil patch braces for exploration chill after Canada’s election

As Canada’s oil patch grapples with a price shock, pipeline delays and rising tax rates, the federal election could add another barrier to recovery by reining in a key incentive for development of new wells. ...

Tracking the trends in the OEMs: Douglas-Westwood

Oil prices have stabilized in the $45-50 range over the last month, however, performances of major oilfield stocks have continued to suffer, according to Douglas-Westwood's DW Monday. ...

Oil extends gains above $45 as rig fall signals U.S. output cuts

Oil extended gains above $45/bbl after data showed a reduction in the number of rigs drilling for crude in the U.S., signaling output cuts in the world’s biggest consumer. ...

Saudi Aramco cuts crude to Asia, U.S. amid weak demand

Saudi Arabia cut pricing for November oil sales to Asia and the U.S. as the world’s largest crude exporter seeks to keep its barrels competitive with rival suppliers amid sluggish demand. ...

Statoil suspends Songa Trym contract

Songa Offshore has announced that Statoil will suspend the Songa Trym contract after the current well, Tarvos, in the North Sea. ...

Centrica to drill pilot hole in North Sea

Centrica has received consent from the Petroleum Safety Authority (PSA) Norway to drill a shallow borehole (pilot hole) down to a depth of 423 m below the seabed to investigate the possible presence of shallow gas in block 8/10 located in the North Sea. ...

Rolls-Royce to slash 400 jobs from its marine business

Rolls-Royce has announced plans to reduce 400 employees worldwide by the end of next year from its marine business, following the continuing impact of the sharp fall in oil prices. ...

Lundin Petroleum spuds exploration well on Neiden prospect

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum has commenced drilling of exploration well 7220/6-2 in PL609 located on the Neiden prospect in the Barents Sea South. ...

Exxon, Chevron outlooks cut to negative by SandP in oil slump

Exxon Mobil and Chevron were among several U.S. oil and natural gas producers that had their outlooks or ratings cut by Standard and Poor’s as the industry suffers from weak crude prices, hurting their cash flow and liquidity. ...

U.S. independent producers: Federal ozone standard is all costs, no benefits

Independent Petroleum Association of America (IPAA) Executive V.P. Lee Fuller released a statement in response to the U.S. Environmental Protection Agency (EPA) tightening federal standards for ground-level ozone levels. ...

Oil rebounds after U.S. producers reduce rigs to 5-year low

Crude rose after U.S. explorers reduced the number of rigs drilling for oil to a five-year low, signaling further drops in production. ...

INPEX to drill in North Area of Japan’s Yabase oil field

INPEX Corp. plans to drill a well for data gathering purposes into the low-permeability sand stratum in the North Area of Yabase oil field in Akita Prefecture, Japan. ...

Winters Instruments introduces Multiport and Block and Bleed needle valves

Winters Instruments, a global manufacturer of pressure and temperature instrumentation, introduces the Winters Multiport (NVA Series) and Block and Bleed (BBV Series) Needle Valves. ...

Hurricane Joaquin may threaten East Coast energy infrastructure

Hurricane Joaquin, which strengthened to a Category 4 storm on Thursday, is on track to move north along the East Coast this weekend, potentially bringing torrential rainfall and flooding to the region. ...

EV Energy Partners closes acquisitions in Appalachian basin, San Juan basin, Michigan and Austin Chalk

EV Energy Partners (EVEP) has closed four acquisitions purchased from certain institutional partnerships managed by EnerVest, Ltd. ...

Maersk Oil’s discovery near Tyrihans field disappoints

STAVANGER, Norway -- Maersk Oil Norway, operator of production license 510, is about to complete the drilling of wildcat well 6406/6-4 S. ...

Technip wins subsea contract for Shell's Stones development

Technip has been awarded a contract by Shell Offshore for the development of subsea infrastructure for the Stones project. Included in the service are two subsea production tie-backs to the FPSO vessel. ...

Lundin resumes exploration in Malaysia with Mengkuang-1 wildcat

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has resumed exploration drilling in Malaysia with the spudding of the Mengkuang-1 exploration well in license PM307, offshore Malaysia. ...

Statoil enters UK license for Alfa Sentral project

Statoil has acquired First Oil’s 24% equity share in the UK license for Alfa Sentral field for $15 million. ...

UK firms aren’t maximizing UKCS value: Deloitte

A lack of effective supply chain collaboration means that companies are missing out on opportunities to maximize the potential value from the UK Continental Shelf (UKCS), according to a Deloitte survey of oil and gas operators and services companies. ...

Oil drillers bet choking wells will keep shale from going bust

Encana Corp. wants to ensure the shale-oil boom keeps booming. The Canadian producer is among a growing number of companies that are restricting initial output—a process known as choking back—in basins from North Dakota to Texas. ...

Russian oil output reaches post-Soviet record in September

Russian oil output rose to a post-Soviet record last month as producers took advantage of the weak ruble to push ahead with drilling. ...

Penn West sells working interest in Weyburn Unit for $205 million

Penn West announced that it has entered into a definitive agreement for the sale of its non-operated 9.5% working interest in the Weyburn Unit in Southeast Saskatchewan for cash consideration of $205 million, subject to closing adjustments customary in transactions of this nature. ...

Crowley takes delivery of first of four Jones Act tankers

Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly owned U.S. subsidiary of Aker Philadelphia Shipyard ASA. ...

U.S. is net oil exporter to Mexico for first time in two decades

The U.S. became a net oil exporter to Mexico for the first time in more than 20 years as output from shale fields pushed the world’s biggest consumer toward energy independence. ...

Eni enters Mexico with the development of three oil fields offshore

Eni won with a 100% share a production sharing contract to appraise, develop and exploit the oil fields of Amoca, Miztón e Tecoalli, located in the Area 1 in the Campeche Bay, offshore Mexico, following an international auction held yesterday in Mexico City. ...

Offshore platform undergoes simultaneous joint replacements in GOM

An operator contracted T.D. Williamson (TDW) to perform simultaneous isolations on a platform’s 10-in oil pipeline and 14-in natural gas pipeline. ...

TAG Oil announces resignation of COO

TAG Oil, a Canadian-based corporation with operations in New Zealand, announced Thursday that its COO, Frank Jacobs, has resigned to pursue other opportunities. ...

Security fears crippling Yemen’s upstream industry: GlobalData

The continuing deterioration of security conditions in Yemen has led to several international oil companies withdrawing from their operations in the country, with a once-significant source of global supply being reduced to marginal volumes, according to an analyst with research and consulting firm GlobalData. ...

FMC, PROSERNAT align as single supplier of integrated modular systems

FMC Technologies, Inc. and PROSERNAT have signed an alliance agreement to become a single source supplier of integrated modular systems and comprehensive solutions for the processing, separation and treatment of oil, water, gas and solids. ...

FMC Technologies and PROSERNAT align as single supplier of integrated modular systems

FMC Technologies, Inc. and PROSERNAT have signed an alliance agreement to become a single source supplier of integrated modular systems and comprehensive solutions for the processing, separation and treatment of oil, water, gas and solids. ...

2H Offshore awarded Chevron contract to manage production riser testing

2H Offshore, an Acteon company, has been awarded a contract by Chevron to manage a production riser weld qualification testing program. ...

Statoil Technology Invest and Sumitomo Corp. take ownership of CannSeal AS

Statoil Technology Invest and Sumitomo Corporation have officially signed an agreement to take ownership in the well technology company CannSeal AS. ...

Lundin finds more oil at Alta appraisal wells

Lundin Norway, a subsidiary of Lundin Petroleum has successfully completed the drilling of appraisal wells 7220/11-3 and 7220/11-3 A on the eastern flank of the Alta discovery in PL609. ...

Noble’s Cheetah well disappoints offshore Cameroon

Noble Energy’s Cheetah exploration well, in the Tilapia license offshore Cameroon, reached the targeted Cretaceous interval and is being plugged and abandoned. The well encountered both crude oil and natural gas shows in multiple non-commercial reservoir sands. ...

Wintershall focuses on EandP as it completes Gazprom asset swap

BASF and Gazprom have completed an asset swap, which will allow Wintershall, a wholly owned BASF subsidiary, to focus on exploration and production while it exits the gas trading and storage business. ...

Statoil strikes out with wildcat south of Grane field

Statoil Petroleum, operator of production license 169, has concluded the drilling of wildcat well 25/11-28. The well was dry. ...

Aker Solutions to provide subsea production system for Malaysia’s Rotan development

Aker Solutions has been awarded a contract by Murphy Sabah Oil Co. to deliver the subsea production system for the Rotan deepwater natural gas development offshore Malaysia. ...

Eni awards Technip umbilical contract for Angola project

Technip’s wholly owned subsidiaries Technip Umbilicals Ltd. and Angoflex Ltda. have been awarded a contract by Eni to supply umbilicals to the Block 15/06 East Hub Development offshore Angola. ...

Harkand appoints general manager for Africa

Harkand, a global inspection, repair, maintenance (IRM) and light construction company, has united its African presence with the appointment of Doug Fieldgate as the general manager for Africa. ...

Oil advances on signs China stabilizing while crude output slows

Oil rose amid signs of stabilization in China, the world’s second-biggest user, and as U.S. and OPEC production slowed. ...

Mexico’s flirting with Big Oil gets Italian nod as Eni wins bid

Mexico’s flirting with the international oil industry got off on the wrong foot, but they finally have something going. ...

Lundin drills oil at Alta appraisal wells in Barents Sea South

Lundin Norway, a subsidiary of Lundin Petroleum has successfully completed the drilling of appraisal wells 7220/11-3 and 7220/11-3 A on the eastern flank of the Alta discovery in PL609. ...

XPD8 seals condition monitoring contract with CNR International

XPD8 Solutions, an asset integrity management specialist, has secured a significant two-year contract with CNR International. ...

Oil-sands envoy slams Premier, says Obama to reject Keystone

A longtime Canadian advocate for the Keystone XL pipeline is blaming his former boss, Alberta Premier Rachel Notley, for dropping the ball on the project and handing U.S. President Barack Obama a blank check to reject it. ...

America’s oil output refuses to collapse. Here’s one reason why.

Somewhere amid the maze of wells that Murphy Oil Corp. has scattered across Texas’s sprawling Eagle Ford shale formation, Brett Pennington is carrying out a little experiment. ...

Sanctions could lead to restructuring of Russian oil and gas industry: GlobalData

While Russia is continuing to pump crude oil at record levels, producing on average 10.685 MMbpd in 2015, the continuous pressure from U.S./EU sanctions is having an impact on the strategic course of the Russian oil and gas industry, says an analyst with research and consulting firm GlobalData. ...