Subsea 7 awarded contract offshore Egypt

Subsea 7 has announced the award of a sizeable contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of Taurus and Libra fields by BP, offshore Egypt. ...

Statoil reports fatality on COSL rig

Statoil and COSL have received confirmation from the police that one person has died as a result of a breaking wave that hit the COSL Innovator on Wednesday. ...

Cheniere starts producing at shale gas export terminal, ING says

Cheniere Energy Inc. began production at what will become the first terminal to export natural gas from America’s shale formations, according to ING Capital LLC, which helped finance the project. ...

RasGas, Petronet revise LNG contract to lower Indian gas prices

Qatar’s RasGas Co. has reached a new pricing agreement for an existing 25-year contract with Petronet LNG Ltd., India’s biggest gas importer that lowers the price of the fuel by almost half starting Jan. 1. ...

Oil poised for record two-year loss as U.S. stockpiles gain

Oil headed for its biggest two-year loss on record in New York as an expansion in U.S. crude stockpiles exacerbates a global glut. ...

Floods shutting Midwest oil pipeline seen worsening record glut

The worst flooding across the U.S. Midwest in four years has shut some oil pipelines and terminals near St. Louis, potentially swelling a glut of crude and extending this year’s price slide. ...

ConocoPhillips to export first U.S. shale oil as it beats rivals

On the heels of the U.S. government's recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nation's first export cargo of U.S.-produced light crude oil since the 40-year-old ban was lifted on Dec. 18. ...

Vermilion Energy reports first gas from Corrib project

Vermilion Energy said Wednesday that natural gas has started to flow at the company’s Corrib gas project in Ireland. Production levels at Corrib are expected to rise over a period of approximately six months to a peak rate estimated at 58 MMcfgd, net to Vermilion. ...

Gazprom Neft fracs high-temperature horizon in Serbia

Naftna Indusrija Srbije (NIS), a subsidiary of Gazprom Neft, has undertaken a series of hydraulic fracturing operations in high-temperature horizons at Kikinda Istok, Crna Bara jug and Vojvoda Stepa fields in northern Serbia. ...

Canadian Oil Sands urges shareholders to reject Suncor bid

Canadian Oil Sands Ltd.’s board sent a letter to its shareholders Tuesday urging them once again to reject the hostile bid by Suncor Energy Inc. ahead of the offer’s deadline next week. ...

Russia may cut crude estimate in 2016 budget as prices plunge

Russia may cut its oil-price estimate for the 2016 budget next year, possibly following other crude-exporting nations as the commodity, which makes up about 40% of the country’s budget revenue, nears 11-year lows. ...

Lundin drills duster at Ørnen prospect in Barents Sea

Lundin Norway has completed the drilling and evaluation of exploration well 7130/4-1 on the Ørnen prospect. The well is located in PL708, on the eastern parts of the Finnmark Platform in the southern Barents Sea. The well was dry and has been plugged and abandoned. ...

Oil slides back toward $37 before U.S. crude inventory data

Oil resumed its decline toward $37/bbl before weekly U.S. crude inventory and production data. ...

Sound Energy inks Tendrara field management agreement with Schlumberger

Sound Energy has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (FMA) in relation the Tendrara license, onshore Morocco. ...

In world with too much crude oil, 1,100-foot steel monsters rule

The most destructive oil crash in a generation is giving ship owners a billion-dollar windfall. ...

Pemex growth dreams turn to asset sales, job cuts as debt mounts

Petroleos Mexicanos’s plans last year included JVs and higher oil production. For 2016, that’s turned into job cuts and asset sales as it tries to weather the worst downturn in a generation. ...

Chesapeake Energy on pace for 2015's weakest performance amid rout

Chesapeake Energy Corp. is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer from the deepest gas-market rout in 16 years. ...

Olinda Star semi‐submersible contracted for 2016 Santos basin appraisal

Karoon Gas Australia Ltd is pleased to announce that it has executed final agreements with members of the QGOG Constellation S.A. Group to contract the Olinda Star semi‐submersible drilling rig. ...

Kul-Bas exploration and production contract granted a two-year extension

Tethys Petroleum Limited today announced it has been granted a two-year extension to the Kul-Bas exploration and production contract in Kazakhstan. ...

Rosneft and Alltech in JV for gas business development in the Nenets Autonomous District

A company of the Rosneft group and a company of the Alltech group have finalized the creation of a joint venture (JV) for the scope of gas production and marketing projects’ development in the Nenets Autonomous District. ...

Rosneft and ONGC confirm successful cooperation for JSC Vankorneft, onshore Russian Federation

Rosneft and ONGC Videsh Ltd. have signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. ...

TAQA announces first oil from Cladhan field in North Sea

Abu Dhabi National Energy Company PJSC (TAQA), has announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform. ...

Sinopec plans to double fuling shale gas capacity by 2017

China Petrochemical Corp., China’s second- biggest oil and gas producer, plans to double annual shale gas production capacity at its Fuling project in southwest China in the next two years to 10 billion cubic meters. ...

Iran adding to global oil glut dims hopes for recovery next year

Investors are losing faith in an oil-price recovery next year as Iran prepares to add more crude to a global glut. That’s good news for American drivers who have enjoyed the lowest gasoline prices in six years. ...

Keppel OandM secures contracts worth $88 million from repeat customers

Keppel Offshore and Marine Ltd (Keppel OandM)'s local and overseas subsidiaries have won strong support from repeat customers by securing four contracts worth a total of about $88.57 million (S$125 million). ...

Saudi Arabia cuts dependence on oil amid slump in crude prices

Saudi Arabia, the world’s biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as the kingdom keeps boosting production to defend its market share. ...

PA Resources annouces organizational and management changes

As a result of the board’s decision announced on the Nov. 17 to sell all of PA Resources’ assets, it has decided to reduce the company’s corporate organization in order to reduce cost. ...

Transocean announces Shell's early termination of Polar Pioneer contract

Transocean Ltd. announced today that Shell has elected to terminate the contract for the harsh environment semisubmersible Polar Pioneer prior to its expiration in July 2017. ...

LUKOIL produces over 30 million tonnes of oil at Iraq's West Qurna-2

Cumulative production from Iraq’s West Qurna-2 field, operated by PJSC LUKOIL, has exceeded 30 million tonnes of oil since its launch in March 2014, Lukoil said in a statement. ...

Oil falls from three-week high as Iran says exports ‘priority’

Oil slid from the highest level in three weeks, snapping the longest run of gains since April, as Iran repeated its goal of boosting exports after sanctions on the country are lifted. ...

GLNG signs gas purchase agreement with AGL: Santos

The GLNG project participants have executed an agreement with AGL Energy Ltd. (AGL) for the purchase of 254 petajoules of gas for supply to the GLNG project, Santos, the project’s operator, has announced. ...

LUKOIL produces over 30 million tonnes of oil at West Qurna-2 oilfield in Iraq

Since its launch in March 2014, cumulative production of Iraq’s West Qurna-2 field, operated by PJSC LUKOIL, exceeded 30 million tonnes of oil. ...

Gazprom Neft acquires EandP licenses for Yamalo-Nenets Autonomous Okrug

Gazprom Neft has acquired a license for geological prospecting at the Zapadno-Yubileyny block, located in the Nadymsky district of the Yamalo-Nenets Autonomous Okrug. ...

Shale’s running out of survival tricks as OPEC ramps up pressure

In 2015, the fracking outfits that dot America’s oil-rich plains threw everything they had at $50/bbl crude. To cope with the 50% price plunge, they laid off thousands of roughnecks, focused their rigs on the biggest gushers only and used cutting-edge technology to squeeze all the oil they could out of every well. ...

Oil bankruptcies reach highest quarterly level since recession

Bankruptcies among oil and gas companies have reached quarterly levels last seen in the Great Recession, according to the Federal Reserve Bank of Dallas. ...

Nigerian gas plant explosion leaves at least eight people dead

An explosion at a gas plant in the southeastern Nigerian state of Anambra killed at least eight people on Thursday and left several injured, according to the state governor’s spokesman. ...

Oil caps biggest weekly gain in four months as U.S. supply drops

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Gazprom and NIGC hold first meeting of JCC

Tehran hosted today the first meeting of the Joint Coordinating Committee (JCC) of Gazprom and National Iranian Gas Company (NIGC). ...

OMV recieves consent for exploration drilling in the Barents Sea

STAVANGER, Norway -- The Petroleum Safety Authority (PSA) has now granted OMV consent for exploration drilling. ...

Black Ridge Oil and Gas updates outlook based on current oil prices

Black Ridge Oil and Gas, Inc. today provided an update on the Company to address the recent deterioration in oil prices. ...

Total begins the drilling of Antelope-6 in Papua New Guinea

Total EandP PNG Limited has begun drilling the Antelope-6 appraisal well in the Gulf Province of Papua New Guinea. ...

Oil set for biggest weekly gain in two months as U.S. supply drops

Oil in New York headed for the largest weekly gain in more than two months as U.S. inventories declined, and the number of drilling rigs fell. ...

Offshore safety maximized with first independent bolted joint integrity calculator

The world's first independent bolted joint integrity calculation engine has been developed in North East England. ...

Crowley takes delivery of second of four new LNG-ready Jones Act product tankers from Philly Shipyard

Crowley Maritime Corp. took delivery of Texas, the second of four new, Jones Act, product tankers, from Philly Shipyard, Inc. (PSINC), the sole operating subsidiary of Philly Shipyard ASA. ...

GLNG signs gas purchase agreement with AGL

Santos has announced that the GLNG project participants have executed an agreement with AGL Energy Limited (AGL) for the purchase of 254 petajoules of gas for supply to the GLNG project. ...

Drydocks World completes first RIAP on the National Drilling Company’s rig Diyina

Drydocks World has successfully completed the yard’s first Rig Integrity Assurance Program (RIAP) on rig Diyina for the National Drilling Company (NDC), and the first EPCC concept rig project the yard has undertaken. ...

Export change means more tankers may leave U.S. carrying crude

The days of empty oil tankers leaving the Houston Ship Channel are over. ...

Mexico oil giant to announce job cuts as it tries to slim down

Petroleos Mexicanos hopes to start 2016 with a plan to become leaner and more efficient. ...

First U.S. crude oil set to be exported in January after law change

Enterprise Products Partners has secured its first contract to export crude oil produced in the U.S. under the law enacted earlier this month. ...

Petrobras’ troubles highlight bleak prospects for Brazilian oil production to 2020

Marred by corruption and market turmoil, Petrobras, the operator of key pre-salt projects for Brazil’s oil production over the next five years, is one of many Brazilian oil and gas companies facing a difficult financial future in the short term, according to GlobalData. ...

Petrobras’ troubles highlight bleak prospects for Brazilian oil production to 2020

Marred by corruption and market turmoil, Petrobras, the operator of key pre-salt projects for Brazil’s oil production over the next five years, is one of many Brazilian oil and gas companies facing a difficult financial future in the short term, according to GlobalData. ...

Scientific Drilling appoints Abrant to lead operations, sales

Scientific Drilling International (SDI), a privately held directional drilling service company, has announced the promotion of Chip Abrant to the position of senior V.P., Global Operations and Sales. ...

Det norske completes Premier Oil Norge acquisition

Det norske oljeselskap has completed the acquisition of Premier Oil Norway, which comprises all Premier Oil plc’s Norwegian assets, for a net consideration of $120 million on a cash free, debt basis. ...

Petrobras confirms productivity of Santos basin’s Carcará area

Petrobras has concluded two formation tests in the 3-SPS-105 well, confirming the high productivity of the pre-salt carbonate reservoirs. ...

Tellus calls off $602-million asset deal with Wintershall

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Wintershall eyes Argentina’s Vaca Muerta shale with new investment

Wintershall and the local state-owned energy company Gas y Petróleo del Neuquén have signed an agreement under which Wintershall will increase its interest in Argentina's Aguada Federal Block from 50% to 90%. ...

Calgary woes spread as oil patch spending cuts deepen in 2016

Crime is rising, home prices are falling and food banks are overwhelmed in Calgary as job losses spread. And the worst isn’t yet over in the heart of Canada’s oil patch. ...

OPEC sees demand for its crude falling for rest of decade

OPEC said demand for its crude will slide to 2020, though less steeply than previously expected, as rival supplies continue to grow. ...

Det norske acquires Premier Oil Norge

Det norske oljeselskap ASA has completed the acquisition of Premier Oil Norway, which comprises all Premier Oil plc’s Norwegian assets for a net consideration of $120 million on a cash free, debt basis. ...

Oil slump to 11-year low just a taste of pain felt by producers

If oil’s slump to an 11-year low stung traders, it’s just a taste of the hardship felt by the industry. ...

Cheap oil's great, except when it's a nightmare: Marc Champion

Brent crude hit an 11-year low of $36.20 on Tuesday, in part because OPEC has ceased to function. So, ding dong, the cartel is dead. By all means sing and ring the bells out. Just not too loudly. ...

Pemex extends Fugro offshore geophysical and geotechnical campaign

Mexican national oil company, Pemex, has awarded a further extension to Fugro’s contract to support its exploration drilling activities in the Bay of Campeche. ...

Shell cuts 2016 spending by $2 billion as it prepares for BG

Royal Dutch Shell Plc, Europe’s largest oil company, further reduced spending plans for this year and 2016 as it prepares to take over BG Group Plc amid slumping prices for crude. ...

Fugro wins contract for Exxon’s deepwater Guyana oil development

Fugro has been awarded a contract by Esso Exploration and Production Guyana Ltd., an Exxon Mobil affiliate, for survey services at a deepwater field development offshore Guyana. ...

Suncor bid for Canadian Oil Sands pits promise against results

As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.’s C$4.5-billion ($3.2-billion) bid, the latest upset at its only business couldn’t have come at a worse time. ...

Subsea UK’s board strengthened by new board appointments

Subsea UK has unveiled its new board, following a members’ ballot at the industry body’s Annual General Meeting. Following an unprecedented number of member nominations, two new board members were appointed and seven members re-elected. ...

Encana’s DJ basin sale to close in second quarter

Encana Corp.’s wholly owned subsidiary, Encana Oil and Gas (USA) Inc., expects the sale of its DJ basin assets to Crestone Peak Resources—95% owned by Canada Pension Plan Investment Board and 5% by The Broe Group—to close in the second quarter of 2016. ...

Chevron signs long-term LNG supply agreement with China Huadian

Chevron Corp.’s wholly owned subsidiary Chevron U.S.A. Inc., has signed a non-binding LNG supply Heads of Agreement (HOA) with China Huadian Green Energy Co., Ltd. ...

Sparrows Group awarded contract for two 500-tonne under-rollers

Sparrows Group, and its cable and pipe-lay solutions (CPLS) division, reinforced its footprint in the U.S. after being awarded a contract by Oceaneering to design and manufacture two 500-tonne powered and jack-able under-rollers. ...

Forum AMC awarded series of contracts for bucking unit

Forum Energy Technologies' AMC Engineering product line has been awarded new orders worth millions of dollars within just one month, the company said Tuesday. ...

Schlumberger inks seismic survey contract with Statoil for Campeche basin

Schlumberger announced today that Statoil Gulf of Mexico LLC has signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. ...

American LNG exporters turn to Europe as Asian demand sputters

For years, U.S. gas companies looking to export LNG dreamed of a booming Asia. Now, with demand there falling and the first shipment weeks away, Europe has emerged as the unlikely savior of American LNG. ...

Lundin discovers oil in Rolvsnes prospect, offshore Norway

Lundin Norway has completed the Rolvsnes exploration well 16/1-25 S as an oil discovery. ...

Shell-BG deal not yet in bag amid fears of further oil slump

Royal Dutch Shell Plc is on the brink of pulling off its biggest acquisition. Yet the widening discount of target BG Group Plc to the offer price shows that a further steep drop in oil prices could still put the deal in doubt. ...

Texas Alliance joins forces with NESA

The governing bodies of the National Energy Services Association and the Texas Alliance of Energy Producers have approved the unification of the membership of both organizations to better serve the needs of their members. ...

Schlumberger, Statoil execute contract for deepwater survey in Mexico's Campeche basin

Schlumberger said Monday that Statoil Gulf of Mexico LLC has signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. ...

Schlumberger executes contract with Statoil for deepwater survey in the Campeche basin

Schlumberger said Monday that Statoil Gulf of Mexico LLC has signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. ...

McDermott, LTHE consortium awarded contract for deepwater development offshore India

McDermott International announced Monday that a consortium of McDermott and LandT Hydrocarbon Engineering has been awarded a contract covering the engineering, procurement, construction and installation of major subsea field infrastructure for the Vashishta and S1 Development project, a greenfield deepwater development off India’s East coast. ...

Maersk Supply Service acquires subsea support vessel from REM Offshore

Maersk Supply Service has acquired the high spec, multi-purpose subsea support vessel, REM Forza, from REM Offshore ASA. ...

KCA Deutag sells Ben Loyal jackup to Egyptian driller

KCA Deutag has sold its Ben Loyal jackup rig to Egyptian-headquartered Advanced Energy Systems A.D.E.S. SAE for an undisclosed sum. ...

EMAS wins contracts worth $70 million in Middle East, Asia

Ezra Holdings’ Subsea Services division, EMAS AMC, has won subsea contracts worth nearly $70 million, including work with a new client in the Middle East. ...

Noreco sells Norwegian petroleum activities

Norwegian Energy Company has announced that its fully owned subsidiary Noreco Norway has entered into a Sale and Purchase Agreement (SPA) with Djerv Energi for the sale of its exploration license interests, organisation and management systems. ...

Shell, BG shareholders to vote on takeover at the end of January

Shareholders of Royal Dutch Shell and BG Group are expected to vote on Jan. 27 and Jan. 28 on the companies’ planned combination announced eight months ago. ...

DNV GL launches JIP to improve risk assessment of offshore helideck turbulence through the use of CFD

Computational fluid dynamics (CFD) is widely used in high-level analyses of offshore helideck turbulence levels to assess possible flight restrictions. ...

Atwood Oceanics delays delivery of ultra-deepwater drillships

Atwood Oceanics announced Friday that subsidiaries of the company have agreed with Daewoo Shipbuilding and Marine Engineering Co. (DSME) to delay the company's requirement to take delivery of two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer, to Sept. 30, 2017, and June 30, 2018, respectively. ...

Wood Group acquisition strengthens company’s onshore US construction capabilities

Wood Group has acquired Kelchner Inc., a privately owned U.S.-based provider of construction and energy field services. Kelchner will operate within the onshore business of Wood Group PSN Americas, providing construction capabilities primarily to the midstream and upstream oil and gas sector in the Marcellus and Utica shale basins, and broader industrial sectors. ...

Wintershall to drill wildcat well in Barents Sea

The Norwegian Petroleum Directorate (NPD) has granted Wintershall Norway a drilling permit for wildcat well in PL 611 located in the Barents Sea. ...

EMAS wins $70 million worth contracts in the Middle East and Asia

Ezra Holdings’ Subsea Services division, EMAS AMC, has won subsea contracts worth nearly $70 million, including work with a new client in the Middle East. ...

Noreco sells its Norwegian petroleum activities

Norwegian Energy Company has announced that its fully owned subsidiary Noreco Norway has entered into a Sale and Purchase Agreement (SPA) with Djerv Energi for the sale of its exploration license interests, organisation and management systems. ...

Siberian surprise: Russian oil patch just keeps pumping

In the fight for market share among the world’s oil producers this year, Russia wasn’t supposed to be a contender. ...

Iraq sees crude oil prices rising on strong fundamentals

Crude prices are set to rise from current “very low” levels that are hurting producers, Iraq’s Oil Minister Adel Abdul Mahdi said after a meeting of Arab petroleum-exporting nations. ...

Brent oil slides to 11-year low as producers seen worsening glut

Brent crude slumped to the lowest level since 2004 amid speculation suppliers from the Middle East to the U.S. will exacerbate a record glut as they continue fighting for market share. ...

WellDog announces expanded coal gas pre-drainage service capability

WellDog has released the third generation of its GasMapper coal gas assessment service, extending the successful service to use in the slim boreholes used widely by the coal mining industry. ...

Oceaneering appoints Martin J. McDonald as senior V.P., Remotely Operated Vehicles

Oceaneering International, Inc. has appointed Martin J. McDonald as senior V.P., Remotely Operated Vehicles, with global responsibility for Oceaneering's Remotely Operated Vehicle (ROV) business, effective Jan. 1, 2016. ...

U.S. reverses decades of oil-export limits with Obama’s backing

With the stroke of a pen, President Barack Obama on Friday ended 40 years of U.S. crude oil export limits by signing off on a repeal passed by Congress earlier in the day. ...

Libya's Eastern Oil Company to sign oil sales amid UN peace deal

The National Oil Corp. affiliated with the internationally recognized government in eastern Libya said it will sign agreements with six companies to sell the country’s crude oil after a peace deal was signed between rival factions in the divided country. ...

U.S. oil is too good, too pricey and too far for Asia buyers

In the world’s biggest oil market, buyers have better options than U.S. crude. ...

Obama poised to end U.S. oil-export limits after Congress votes

With the stroke of a pen, President Barack Obama will end 40 years of U.S. crude oil export limits when he signs off on a repeal passed by Congress Friday. ...

House votes to end U.S. oil-export limits, Senate vote next

The U.S. House of Representatives voted 316-113 to repeal the nation’s crude oil export limits, sending the measure to the Senate, which is expected to approve and send it to President Barack Obama for his signature later Friday. ...

BP expands in New Mexico with acquisition of Devon Energy’s assets

BP’s U.S. Lower 48 Onshore oil and natural gas business has significantly expanded its operations in the San Juan basin, which spans northern New Mexico and southern Colorado, by acquiring all of Devon Energy’s assets in the region. ...

Israel paves way for Noble to develop Leviathan, expand Tamar

Noble Energy was notified Thursday that the government of Israel acted to implement the Natural Gas Framework through execution of Section 52 of the Restrictive Trade Practices Act. Execution of Section 52 resolves and provides exemption from claims of the Anti-trust Authority with respect to the Leviathan joint venture partners' acquisition of petroleum rights in the underlying permits. ...

Baker Hughes introduces solution to avoid production interruptions

Baker Hughes has announced the commercial release of its CENesis PHASE multiphase encapsulated production solution, which helps operators avoid production interruptions in unconventional wells. ...

Faroe awards Brasse rig contract, resumes Enoch production

Faroe Petroleum has awarded a rig contract for the drilling of the Faroe-operated, Brasse exploration well in the Norwegian North Sea (Faroe 50%) and the recommencement of oil production from the Enoch field (Faroe 13.86%). ...

IHS: “Turning point” for oil sands costs and competitiveness

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. ...

HS: “Turning point” for oil sands costs and competitiveness

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. ...

LUKOIL opens new maintenance center for electric submersible pumps

LUKOIL has opened an OOO ‘LUKOIL EPU Service’ workshop for repairs and testing of electric submersible centrifugal pumps (ESP) in Nurlat, Republic of Tatarstan. ...

Aker Solutions, Saipem to cooperate on subsea projects

Aker Solutions and Saipem have agreed to cooperate on targeted subsea oil and gas development projects worldwide. ...

Lake Charles LNG project receives FERC approval: BG Group

The Lake Charles LNG export project has received approval from the U.S. Federal Energy Regulatory Commission (FERC) to construct and operate a natural gas liquefaction and export facility in Lake Charles, Louisiana, BG Group said Friday. ...

USGS doubles Barnett shale gas estimate on new study

The Barnett shale contains estimated mean volumes of 53 Tcf of shale natural gas, 172 MMbbl of shale oil and 176 MMbbl of natural gas liquids, according to an updated assessment by the U.S. Geological Survey (USGS). This estimate is for undiscovered, technically recoverable resources. ...

Polarcus receives LOI for 4D project offshore Denmark

Polarcus Limited has received a Letter of Intent (LOI) from Maersk Oil on behalf of the Danish Underground Consortium (DUC) for a 4D marine seismic survey offshore Denmark. ...

Saudi Aramco announces senior vice-president appointments

The Board of Directors of the Saudi Arabian Oil Company has made the following appointments, effective Jan. 1, 2016: Mohammed Y. Al Qahtani, Senior VP, Upstream; Ahmad A. Al Sa’adi, Senior VP, Technical Services; and, Muhammad M. Al Saggaf, Senior VP, Operations and Business Services. ...

Statoil submits $940-million PDO for North Sea project

Statoil and its partners has submitted a Plan for Development and Operation for Oseberg Vestflanken 2 in the North Sea. The new development will consist of an unmanned wellhead facility, which will both recover oil and gas from new deposits and improve the recovery rate from other producing deposits. ...

Faroe Petroleum awards Brasse rig contract and resumes Enoch production

Faroe Petroleum has awarded a rig contract for the drilling of the Faroe-operated, Brasse exploration well in the Norwegian North Sea (Faroe 50%) and the recommencement of oil production from the Enoch field (Faroe 13.86%). ...

“Turning Point” for oil sands costs and competitiveness: IHS

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. ...

LUKOIL opens maintenance center for electric submersible pumps in Tatarstan

LUKOIL has opened an OOO ‘LUKOIL EPU Service’ workshop for repairs and testing of electric submersible centrifugal pumps (ESP) in Nurlat, Republic of Tatarstan. ...

U.S. oil output has first year-on-year drop since 2011, API says

U.S. crude production in November posted the first annual decline in almost five years as falling prices curbed investment. ...

Transocean reports early termination of ultra-deepwater drillship contract

Transocean announced Thursday that Statoil has elected to terminate the contract for the ultra-deepwater drillship Discoverer Americas. ...

Cameron shareholders vote in favor of Schlumberger merger

Cameron announced Thursday that its stockholders have overwhelmingly voted to adopt the merger agreement providing for the acquisition of Cameron by a wholly owned subsidiary of Schlumberger Ltd. ...

AlMansoori launches new vessel in Arabian Gulf

AlMansoori Specialized Engineering has announced the deployment of the first of two planned production testing and stimulation vessels in the Arabian Gulf. ...

AlMansoori launches new production testing and stimulation vessel in Arabian Gulf

AlMansoori Specialized Engineering has announced the deployment of the first of two planned production testing and stimulation vessels in the Arabian Gulf. ...

Anadarko speeds up timetable for Heidelberg in Gulf of Mexico

Anadarko Petroleum is expecting first oil from its Heidelberg development early next year as the Gulf of Mexico project progresses ahead of schedule. ...

Pakistan Petroleum’s Hatim X-1 well strikes gas in Gambat South Block

Pakistan Petroleum Ltd. has announced another gas discovery at an exploration well in District Matiari, Sindh, Pakistan. ...

SBM Offshore completes $800-million financing of Turritella FPSO

SBM Offshore‘s joint venture, Turritella, has completed the project financing for the Turritella FPSO for a total of $800 million. Project financing was secured by a consortium of twelve international banks with an average cost of debt of 3.5% over the ten-year post-completion maturity. ...

UK offers explorers 159 onshore blocks in latest licensing round

The Oil and Gas Authority (OGA)—the UK’s oil and gas regulator—announced Thursday that 159 onshore blocks under the 14th Onshore Oil and Gas Licensing Round are being formally offered to successful applicants. These blocks will be incorporated into 93 onshore licenses. ...

BP awards KCA Deutag major contracts in Azerbaijan

KCA Deutag has been awarded two contracts with BP Exploration (Caspian Sea) Limited. These contracts have a combined value of approximately $360 million for the initial contract or $1 billion including all options. ...

Shell awards Wood Group FEED contract for Browse FLNG development

Wood Group has secured a front-end engineering and design (FEED) contract for the Woodside-operated proposed Browse floating liquefied natural gas (FLNG) development. ...

Wood Group starts $250-million CATS contract

Wood Group has commenced a new contract with CATS Management Limited, a wholly owned subsidiary of Antin Infrastructure Partners, to provide operating services for the Central Area Transmission System (also known as CATS) in the North Sea. ...

Algeria to boost 2016 oil output, offer rights amid global glut

Algeria’s state oil producer Sonatrach Group plans to raise crude output by 5% next year and offer energy-exploration rights to foreign companies by the end of March, steps that may add barrels to an oversupplied global market. ...

AnTech expands its Wellhead Outlet product range

AnTech Ltd. has launched three new products within its multi-million dollar Wellhead Outlet (WHO) range. ...

SBM Offshore completes $800 million financing of Turritella

SBM Offshore‘s JV, Turritella, has completed the project financing of FPSO Turritella for a total of $800 million. ...

Churchill Drilling Tools announces its Dubai expansion

Churchill Drilling Tools has announced the opening of its new Dubai office following international success and growing demand for its technologies. ...

Mayer Brown represents EE3 on sale of Niobrara shale oil assets to SandRidge Energy

Mayer Brown advised EE3, LLC on the sale of Niobrara shale oil assets in the North Park basin, Jackson County, Colorado to SandRidge Energy, Inc. for approximately $190 million in cash. ...

White House announces support for plan allowing oil exports

The White House announced its support for a deal reached by congressional leaders on a package of spending and tax legislation that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports. ...

Crude price no obstacle as Mexico sells all areas auctioned

The opening of Mexico’s oil industry is warming up after a slow start. ...

Weatherford lands world's heaviest casing string

Weatherford achieved a new world record by landing a 1,180-ton (2,360,700-lb) casing string at a total depth of 26,805 ft (8,170 m). The job was performed on a deepwater rig in the Gulf of Mexico this fall. ...

OPEC more threatened by Iran than U.S. oil exports

An end to the U.S.’s 40-year ban on oil exports is probably not what OPEC needs right now. Yet a resurgent Iran may present a greater threat as it prepares to dump a million bbl on the market next year. ...

Russian oil companies look to Americas to boost long-term positions: GlobalData

Key Russian oil companies have refocused on strengthening their international positions through the acquisition of EandP assets in geographies outside Russia, with countries in the Americas providing a number of potential partnerships in the long term, according to GlobalData. ...

CNPC, Mubadala Petroleum sign strategic cooperation agreement

CNPC and Mubadala Petroleum have signed a strategic cooperation agreement. ...

New oil spill response guides launched for UKCS

Four new guides have been added to an information ‘toolkit’ to help offshore oil and gas operators implement their response should there be an oil spill in the North Sea. ...

Polarcus starts multi-client project offshore Australia

Polarcus has announced the commencement of a new RightBAND multi-client project over the Vulcan Sub-basin, offshore the North West Shelf, Australia. ...

New Zealand awards nine permits in Taranaki basin

New Zealand’s Energy and Resources Minister Simon Bridges has announced the award of nine new oil and gas exploration permits for Block Offer 2015. ...

Wood Group awarded main contractor agreement with Statoil

Wood Group has been awarded a main contractor framework agreement worth approximately $400 million to deliver maintenance and modification services to four Statoil installations on the Norwegian Continental Shelf (NCS). ...

BP awards Amec Foster Wheeler contracts for Glen Lyon FPSO

Amec Foster Wheeler has been awarded three contracts by BP to provide services to the Glen Lyon FPSO vessel as part of the Quad 204 Project, located 175 km west of the Shetland Isles, UK. ...

Portal to share efficiency successes and challenges across UK oil and gas industry goes live, says Oil and Gas UK

Following last week’s signing of the Industry Behaviours Charter, the collective commitment to work effectively, efficiently and co-operatively, Oil and Gas UK’s Efficiency Task Force has launched the Rapid Efficiency Exchange (REE), another tool in the suite of mechanisms to help improve the industry’s performance. ...

Congress reaches fiscal deal that ends U.S. oil export ban

Congressional leaders agreed on a fiscal plan that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports, House Speaker Paul Ryan told fellow Republicans during a closed-door meeting Tuesday night. ...

First Subsea completes Heidelberg spar mooring for Anadarko Petroleum

First Subsea Ltd. has completed the installation of subsea mooring connectors for Anadarko Petroleum Corp's Heidelberg truss spar platform moored in 5,310 ft of water in field development in the Gulf of Mexico. ...

ESG Solutions acquires Spectraseis Inc.

ESG Solutions has recently acquired Spectraseis Inc., a company on the forefront of surface-based seismic technology in Hydraulic Fracture Monitoring and Induced Seismicity Monitoring (ISM). ...

Peak further invests in Aberdeen Technology Centre to support manufacture of new SIMULTRA range

Peak Well Systems has made a further investment in its Aberdeen Technology Centre in support of ongoing RandD and commercialization of its newly launched SIMULTRA range – a new generation of flow control products suitable for gas wells and other extremely challenging applications. ...

WandT Offshore makes deepwater discovery in Gulf of Mexico

WandT Offshore has made a significant discovery at the Ewing Banks 954 A-8 exploratory well in the deepwater Gulf of Mexico, the company said Tuesday. ...

Halliburton, Baker Hughes extend merger deadline to April

Halliburton and Baker Hughes said Tuesday that they expect their timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ) will expire without reaching a settlement or the DOJ initiating litigation at this time to block their pending transaction. ...

Oil rout to claim more victims after first Norway bankruptcy

The collapse of oil prices has claimed its first bankruptcy victim in Norway’s offshore industry, and analysts warn more may follow. ...

Shell bid aims to preserve U.S. drilling rights in Arctic

Royal Dutch Shell Plc is fighting to preserve U.S. drilling rights in Arctic waters three months after halting exploration indefinitely there because it failed to find meaningful oil or natural gas deposits. ...

SeaRobotics to manufacture Lockheed Martin's commercial deepwater AUV

Lockheed Martin selected SeaRobotics Corporation as the Original Equipment Manufacturer (OEM) for its Marlin Mk3 Autonomous Underwater Vehicle (AUV) designed for survey and inspection applications in depths up to 4,000 m. ...

Magnum Hunter files for Chapter 11 bankruptcy

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Oil in $20s a risk as Citigroup sees crude storage tanks fill up

U.S. oil prices may fall into the $20s if tanks used to store crude start to fill up before producers sufficiently curb output, Citigroup Inc. predicted. ...

API: SEC disclosure proposal a step back for international competitiveness

A proposed rule on disclosure requirements for America’s oil and natural gas industry released by the U.S. Securities and Exchange Commission could harm U.S. competitiveness while possibly weakening a decade-old effort to implement payment transparency programs worldwide, according to API. ...

Statoil awards framework agreements for maintenance and modifications

Statoil has awarded maintenance and modification agreements worth about $2.8 billion (NOK 24 billion) for the company’s installations on the Norwegian Continental Shelf (NCS) and for the onshore plants at Sture, Kollsnes, Kårstø and Melkøya. ...

ABB wins large order for Trans-Anatolian Natural Gas Pipeline

ABB has won a large contract for the 1,850-km Trans-Anatolian Natural Gas Pipeline (TANAP) to bring Azerbaijan’s natural gas directly to Europe. ...

Gas is the best bridging fuel towards a low-carbon future, says DNV GL

The demand for energy is expected to increase by more than 50% by 2050. At the International Gas Union (IGU) Forum on Tuesday, DNV GL asserted that gas will play a major role in a safer, more sustainable energy supply, but called for the market to become more efficient. ...

New RP on thermoplastic composite pipes offers cost savings: DNV GL

The oil and gas industry invests billions annually in offshore pipelines and risers. DNV GL has launched a new recommended practice (RP) that allows operators to choose thermoplastic composite pipes instead of steel or traditional flexibles, enabling substantial cost reductions throughout the project lifecycle. ...

New RP on thermoplastic composite pipes offers cost savings

The oil and gas industry invests billions annually in offshore pipelines and risers. DNV GL has launched a new recommended practice (RP) that allows operators to choose thermoplastic composite pipes instead of steel or traditional flexibles, enabling substantial cost reductions throughout the project lifecycle. ...

Seatronics collaborates with robotic systems manufacturer, Inuktun

Seatronics, an Acteon company, has announced a collaboration with Canadian-based manufacturer, Inuktun Services Ltd. ...

Bibby Offshore secures multi-million-dollar subsea project with BP

Bibby Offshore has been awarded a multi-million-dollar contract by BP to replace subsea infrastructure in the Central North Sea. ...

Technip wins subsea contract for Odd Job deepwater field in Gulf of Mexico

Technip has been awarded a lump-sum contract by Deep Gulf Energy II, LLC for the development of Odd Job field. ...

Polarcus wins new broadband 3D project

Polarcus has received a Letter of Intent (LOI) from an undisclosed client for a 3D marine seismic contract utilizing Polarcus' RightBAND technique for broadband data acquisition. ...

Statoil awards $2.78 billion worth framework agreements for maintenance and modifications

Statoil has awarded maintenance and modification agreements worth $2.78 billion (NOK 24 billion) for the company’s installations on the Norwegian continental shelf (NCS) and for the onshore plants at Sture, Kollsnes, Kårstø and Melkøya. ...

Oil trades near $36 as U.S. moves toward lifting of export ban

Oil held gains after rebounding from the lowest price since February 2009 as the U.S. Congress sought to advance on a deal to allow unfettered crude exports for the first time in 40 years. ...

U.S. oil narrows discount to Brent on signs export ban may end

U.S. oil narrowed its discount against the global benchmark to the least since January on signs the nation may allow unfettered crude exports for the first time in 40 years. ...

Tullow gains after successful well boosts oil potential in Kenya

Tullow Oil Plc gained after a successful well increased the potential size of oil resources the Africa- focused explorer has discovered in Kenya. ...

Weatherford introduces compact oil-base mud microimager

Weatherford International plc has announced the official launch of its Compact oil-base mud microimager (COI), a slim-profile tool that delivers fullbore, high-definition images in wells drilled with oil-, diesel- or synthetic-base muds. ...

House Democrats said to be open to lifting U.S. oil export ban

House Democrats are now open to lifting the 40-year-ban on U.S. crude-oil exports, negotiating with Republicans in hopes of extracting trade-offs in exchange for a top Republican priority, a Democratic leadership aide said Monday. ...

New partnership to train next generation of workers in Iraq

Stirling Group has partnered with the EU Iraq Energy Centre (EUIEC) to provide risk management training to the Iraqi oil and gas industry to help build a highly skilled and competent workforce. ...

Cheniere Energy names interim president as board replaces Charif Souki

Cheniere Energy—along with subsidiaries Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC—announced Sunday that its board of directors has appointed board member Neal A. Shear as interim president and CEO. The Cheniere board also appointed board member G. Andrea Botta as its chairman. ...

WTI falls below $35/bbl in New York for first time since 2009

Oil fell below $35/bbl in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. ...

Petrofac’s collaborative approach secures contract extensions

Petrofac has been supporting the UK Continental Shelf (UKCS) for more than 20 years, working in collaboration with its customers to drive efficiencies and generate maximum value across their operations. ...

Exxon Mobil starts Banyu Urip central processing facility in Indonesia

Exxon Mobil has started the onshore central processing facility at Banyu Urip field in Indonesia, helping increase production to more than 130,000 bopd. ...

Seismic surveyor Dolphin files for bankruptcy as oil woes spread

Dolphin Group ASA, a Norwegian seismic surveyor, filed for bankruptcy as the collapse in crude prices claimed another victim. ...

Shell to shed 2,800 jobs after takeover of BG Group

After the clearance from the Chinese Ministry of Commerce (MOFCOM) over Shell’s acquisition of UK’s BG Group, Shell is expecting to make cuts in the combined group workforce. ...

Shell to cut 2,800 roles globally after the BG merger

After the clearance from the Chinese Ministry of Commerce (MOFCOM) over Shell’s acquisition of UK’s BG Group, Shell is expecting to make cuts in the combined group workforce. ...

Halliburton’s bid for Baker Hughes in limbo as U.S. deadline looms

Halliburton Co.’s takeover bid for Baker Hughes Inc. has come down to the wire with the U.S. Justice Department, which may decide this week whether to approve the deal after months of negotiations. ...

Shell’s takeover of BG Group clears final antitrust hurdle

Royal Dutch Shell’s combination with BG Group has received unconditional merger clearance from the Chinese Ministry of Commerce (MOFCOM). Following previous approvals in Brazil, the EU and Australia, MOFCOM clearance marks the final pre-conditional approval required for the combination. ...

Shell’s record takeover of BG clears final antitrust hurdle

Royal Dutch Shell Plc got clearance from antitrust authorities in China for its takeover of BG Group Plc, removing the final regulatory hurdle for its biggest-ever deal. Shares of both companies rose in London. ...

Oil falls below $35 in New York for first time since 2009

Oil fell below $35/bbl in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. ...

Cheniere Energy appoints Neal Shear as interim President and CEO and Andrea Botta as Chairman

Cheniere Energy along with subsidiaries Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC has announced that its Board of Directors has appointed Board member Neal A. Shear as interim President and CEO, and the Cheniere Board has appointed Board member G. Andrea Botta as Chairman of its Board of Directors, effective immediately. ...

Wärtsilä develops inert gas solution for seventeen new LNG Carriers

Wärtsilä has received a contract from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea to supply combined inert gas generators and gas combustion units for 17 new LNG Carrier vessels under construction at the company's yards. ...

Bollinger Shipyards’ Brent Blackburn to be Director of Engineering

Bollinger Shipyards has announced the promotion of Brent Blackburn to Director of Engineering. ...

Federal regulators following double standard on well cleanup, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska, has accused the Obama administration of having a double standard in its regulation of oil and natural gas activity on federal lands. ...

Subsea compression innovator wins President’s Award by SUT

The Society for Underwater Technology (SUT) has presented its President’s Award to Dr Kjell Olav Stinessen in recognition of his long term services to industry at the Society’s AGM and annual dinner in London. ...

Congress eyes tax break for oil refiners in exchange for crude oil exports

Lawmakers in Washington are pushing a tax break for oil refiners as part of a compromise allowing unfettered crude-oil exports for the first time in 40 years. ...

Exxon names refining boss as heir apparent to CEO Rex Tillerson

Exxon Mobil has promoted Darren Woods to president, putting him on a path to succeed Chairman and Chief Executive Officer Rex Tillerson as leader of the world’s largest energy producer by market value. ...

EIA: Mexican crude shipments to Europe and Asia are rising as U.S. imports fall

In September 2015, monthly U.S. crude oil imports from Mexico totaled 0.6 MMbpd, the lowest level since 1990, and a decrease of about 50% since January 2011. ...

U.S. rig rout deepens as drillers idle 21 oil-directed rigs

The decline in the weekly rig count continued this week as drillers in the U.S. cut 21 oil-directed rigs, according to the latest data from Baker Hughes. ...

Australia Pacific LNG starts production at Curtis Island, Origin says

Australia Pacific LNG has started production of liquefied natural gas at its Curtis Island facility, joint venture partner Origin Energy said Friday. Australia Pacific LNG remains on track to export its first cargo by the end of the year, the company said. ...

Paul Danos named to NOIA board

GRAY, Louisiana – Paul Danos, executive V.P. of Danos, has been chosen to serve on the board of directors for the National Ocean Industries Association (NOIA). ...

Petrobras tries American-shale boys’ tack to survive oil crisis

The head of Brazil’s troubled oil giant is carving a path through the worst oil rout in a generation that would look familiar to producers throughout the U.S. shale patch: focus on the core. ...

Australia Pacific LNG starts production of liquefied natural gas

...

Statoil, Repsol announce series of deals in U.S., UK, Norway, Brazil

STAVANGER, Norway -- Statoil announced a series of transactions with Repsol on Friday as the Stavanger-based company seeks to increase the number of operatorships it holds in priority areas. ...

Woodside gets approval for $2-billion North West Shelf project

Woodside, as operator of the North West Shelf (NWS) project, said Friday that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) project off the north-west coast of Australia. ...

Oil traders aren’t dancing the crude contango this time around

Back when the global recession trashed oil demand and prices, the likes of BP Plc and Vitol Group found a novel way to profit: They stashed crude on tankers. With a slump of similar magnitude now, traders are seldom finding the same opportunities. ...

Oil and Gas UK Board inks Industry Behaviours Charter

Oil and Gas UK’s Efficiency Task Force (ETF) launched the Industry Behaviours Charter at the trade association’s Annual General Meeting and Joint Council. ...

IEA sees oil glut lasting to late 2016 as OPEC keeps pumping

The global oil surplus will persist at least until late 2016 as demand growth slows and OPEC shows “renewed determination” to maximize output, according to the International Energy Agency. ...

Oil falls to lowest since 2008 as OPEC seen fueling supply glut

Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to effectively scrap production targets will keep the market oversupplied. ...

Total brings Congo’s Moho Phase 1b project online

Total has brought on stream the Moho Phase 1b project, located 75 km off the coast of Pointe-Noire in the Republic of the Congo. ...

Byron secures multi-well farm out deal with Otto on GoM properties

Byron Energy Ltd.’s wholly owned subsidiary, Byron Energy Inc has entered into a binding participation agreement (PA) with Otto Energy (Louisiana). ...

North West Shelf Project approves development of GWF-2 Project, says Woodside

Woodside, as operator of the North West Shelf (NWS) Project, advises that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia. ...

Industry Behaviours Charter signed by Oil and Gas UK Board

Oil and Gas UK’s Efficiency Task Force (ETF) launched the Industry Behaviours Charter at the trade association’s Annual General Meeting and Joint Council. ...

Oil giants pledge deeper spending cuts amid prolonged slump

Some of the biggest oil explorers in the Western Hemisphere are cutting budgets yet again to conserve cash as a plunge in energy markets shows no signs of abating. ...

Rampant pipeline theft fails to deter Mexico onshore oil bidders

Five incidents of pipeline theft a day, a rate that’s almost doubled in the last two years, isn’t fazing potential bidders seeking to produce oil from onshore fields in five Mexican states. ...

Cenovus to cut capital spending by 19%

Cenovus Energy expects to invest between C$1.4 billion and C$1.6 billion in 2016. While allowing for the planned completion of well-advanced oil sands growth projects in 2016, the budget represents a 19% decrease in capital spending compared with total forecast spending for 2015. ...

Statoil names Johan Sverdrup pipeline contract winners

Statoil has, on behalf of the Johan Sverdrup partners, awarded contracts for the linepipe, coating and pipe installation of the Johan Sverdrup export pipelines. ...

Glen Lyon FPSO sets sail for west of Shetland, BP says

BP, on behalf of the Schiehallion co-venturers Shell and OMV, announced Thursday that the new Glen Lyon FPSO vessel has started sea trials as it begins its journey towards the west of Shetland, where it will serve as the hub for the 450 MMbbl Quad204 development in the North Sea. ...

Texas economy to return to potential in 2017 after staving off recession, bank economists say

Shifts in global growth fundamentals such as the strengthening of the U.S. dollar and repressed oil prices may have weakened the outlook for Texas, but the economy is still expected to grow 1.9% in 2015 before returning to its full potential in 2017, BBVA Compass economists say in their latest report. ...

Chevron cuts 2016 budget by a quarter to $26.6 billion

Chevron Corporation has announced a $26.6 billion capital and exploratory investment program for 2016. The 2016 budget, which includes $4.5 billion of planned expenditures by affiliates, is 24% lower than total expected investments for 2015. ...

ConocoPhillips cuts 2016 budget 25% to $7.7 billion

ConocoPhillips unveiled a significantly reduced budget for 2016 on Thursday. The company has set its 2016 capital budget at $7.7 billion, which represents a 55% reduction from 2014 and a 25% reduction as compared with expected 2015 capital spending. ...

OPEC says crude production rose to three-year high in November

OPEC raised crude output to the highest in more than three years as it pressed on with a strategy to protect market share and pressure competing producers. ...

Subsea training facility prepares for new diving regulation deadline

Subsea training facility, The Underwater Centre, is preparing for changes to the prerequisite requirements for experienced commercial air divers, which will come into play in April 2016. ...

Xodus’ international vibration contract wins worth millions

Xodus Group has won a clutch of international vibration contracts bringing the total value for this year to about $7.5 million (£5 million). ...

Wintershall in oil discovery near North Sea’s Vega Sør field

Wintershall Norge, operator of production license 248, is in the process of completing the drilling of wildcat well 35/11-18 and appraisal well 35/11-18 A. ...

Centrica’s exploration costs fall amid oil, gas price slump

Centrica Plc, the biggest energy supplier to U.K. homes, said it expects an annual reduction in costs at its exploration and production business as oil and gas prices slumped. ...

Crude edges higher from six-year low after U.S. stockpiles drop

Oil edged higher from the lowest close in more than six years as investors weighed the significance of the first decline in U.S. inventories in 11 weeks. ...

Technip denies merger talks after reports of FMC discussions

Technip SA said it’s not in merger talks after Bloomberg and Reuters reported that Europe’s largest oilfield-services provider was discussing a potential tie-up with U.S. peer FMC Technologies Inc. ...

WellDog launches new carbon services division

WellDog has established a new carbon services division that is dedicated to applying the company's suite of award winning, cost-effective downhole products and services to ensuring carbon dioxide can be sequestered safely and efficiently in geological formations. ...

Texas economy to return to potential in 2017 after staving off recession: BBVA Compass economists

Shifts in global growth fundamentals such as the strengthening of the U.S. dollar and repressed oil prices may have weakened the outlook for Texas, but the economy is still expected to grow 1.9% in 2015 before returning to its full potential in 2017, BBVA Compass economists say in their latest report. ...

As Congress considers crude exports, democrats name their price

Democrats in Congress are putting a high price on lifting the 40-year-old U.S. ban on crude oil exports. ...

Technip, FMC Technologies said to be in advanced merger talks

Technip SA, Europe’s largest oilfield-services provider, is in talks to merge with U.S. peer FMC Technologies Inc., people familiar with the matter said. ...

CME Group announces record WTI futures and options trading volume

CME Group, the world’s leading and most diverse derivatives marketplace, today announced it reached a trading volume record for combined NYMEX WTI futures and options yesterday, December 8, of 1,841,295 contracts compared to the previous record of 1,772,232 contracts on August 31, 2015. ...

The Canary Islands may be the new Aberdeen of the Mid-Atlantic

The Canary Islands is working to further position itself as the most competitive alternative to operate in West Africa, especially in a context of crisis due to low oil prices. ...

OIS appoints Colin Shellard as new managing director in Aberdeen

Offshore Installation Services (OIS), an Acteon company, has named Colin Shellard as its new managing director. ...

GE said to be in advanced talks for Halliburton drilling assets

General Electric Co. is in advanced talks to buy the drill-bits and drilling-services divisions of Halliburton Co., which is divesting assets to win antitrust approval for its takeover of Baker Hughes Inc., according to people familiar with the matter. ...

General Electric said to be among bidders for Halliburton assets

General Electric Co. is bidding for two of the businesses that Halliburton Co. is selling to win regulatory approval of its $35-billion takeover of rival Baker Hughes Inc., people with knowledge of the matter said. ...

BSEE to launch pilot risk-based inspection program for offshore facilities

In an effort to improve its focus on offshore oil and gas facilities that exhibit a number of distinguishing risk factors, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) is launching a pilot risk-based inspection program. ...

BP ups stake in West Nile Delta project, offshore Egypt

BP Egypt has completed the acquisition of an additional 22.75% interest in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. ...

Sixty-eight percent of South Carolina voters support offshore drilling: Poll

Sixty-eight percent of South Carolina voters support offshore development of U.S. oil and natural gas resources. ...

Future supply security at risk as oil service capacity continues to be cut: Rystad

While the global market is currently oversupplied with crude, Rystad Energy believes this could be turned upside down over the next few years. ...

PetroChina, Sinopec shale gas output said to be below China’s goal

China is on track to miss its shale gas production target for this year as its biggest producers throttle back output amid weakening demand growth and a collapse in energy prices. ...

Wood Group wins second Browse FLNG contract

PERTH, Australia -- Wood Group has secured its second front-end engineering design (FEED) contract for the proposed Browse floating liquefied natural gas (FLNG) Development offshore Western Australia. ...

Swire Oilfield Services appoints new general manager for Australasia

Swire Oilfield Services, the world’s largest supplier of offshore cargo carrying units, has announced the appointment of Teresa Soanes as general manager for Australasia. ...

BP buys additional interest in West Nile Delta project, offshore Egypt

BP Egypt has completed the acquisition of an additional 22.75% interest in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. ...

Statoil seeks Tanzanian clarification on impact of new oil law

Statoil ASA is seeking clarification on Tanzania’s new petroleum law and wants to learn how it will affect companies like itself already operating in the nation, local commercial manager Oivind Holm Karlsen said. ...

Sixty-eight percent of South Carolina voters support offshore drilling for oil and natural gas resources, says Harris Poll

Sixty-eight percent of South Carolina voters support offshore development of U.S. oil and natural gas resources. ...

Tesoro to acquire strategic logistics assets in Bakken

Tesoro Corporation has agreed to acquire Great Northern Midstream LLC, a crude oil logistics provider which owns and operates high-quality, recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in the Williston basin of North Dakota. ...

SAL Heavy Lift completes challenging platform installation in Alaska

SAL Heavy Lift’s team of MV Svenja has successfully installed an offshore development platform over a subsea gas well conductor in the “Kitchen Lights Unit # 3” area in Alaska's Cook Inlet. ...

Kinder Morgan cuts dividend by 74% to conserve cash

Kinder Morgan Inc., the biggest North American oil pipeline operator, cut its 2016 dividend by 74% as the free-fall in crude markets reduced cash flow needed to cover payments on $41 billion of debt. ...

Canada's oil industry swoons again with crude below $40/bbl

For Canada’s oil industry, the bad news won’t stop. ...

Wood Group secures new ConocoPhillips contract in Timor-Leste and Australia

Wood Group has won a new, multi-year contract with ConocoPhillips in Australia. ...

Year of distress for debt-burdened oil firms just got even worse

Just when it seemed things couldn’t get worse for debt-laden energy companies, a renewed rout in oil prices is deepening their distress. ...

NorSea Group wins Wild Well contract

NorSea Group (UK) Ltd has won a five-year contract with Wild Well Control for the storage of its emergency response WellCONTAINED System at NorSea Group’s facilities in South Base, Montrose. ...

China exports decline for fifth month, import slump moderates

China’s exports fell for a fifth month while a slump in imports moderated, as policy makers seek to spur domestic spending amid tepid global demand. ...

Eni CEO says oil doubling $200 billion of cuts risks imbalance

The global oil industry is set to repeat this year’s $200 billion of investment cuts in 2016, raising even more concerns than the current slump in crude prices, according to the CEO of Italy’s Eni SpA. ...

Air Energi to supply contractor workforce for Qatar Petroleum's Bul Hanine project

Air Energi, the global workforce solutions provider for the energy, process and infrastructure sectors, has secured a major deal to supply contract personnel to Qatar Petroleum. ...

Kemira acquires Polymer Services, LLC

Kemira has acquired certain assets of Polymer Services, LLC, a privately owned company, headquartered in Plainville, Kansas. ...

McDermott wins sizeable award for offshore development in Trinidad

McDermott International, Inc., today announced it has been awarded a sizeable transport and installation contract by an upstream oil and gas operator for a project offshore Trinidad, West Indies. ...

Wood Group secures new ConocoPhillips contract Timor-Leste and Australia

Wood Group has won a new, multi-year contract with ConocoPhillips in Australia. ...

PDi bags $2.25 million worth contract in Nigeria

Project Development International (PDi) has secured a $2.25 million (£1.5 million) contract with Nigerian oil service company Marine Platforms Limited (MPL), to provide technical support to the Chevron Agbami Phase 3 transport, installation and pre-commissioning project. ...

Long term vision and resilience can overcome short term uncertainty, says RasGas

Despite some recent turbulence, the global business environment for liquefied natural gas (LNG) remains strong, and a continuous growth in demand is expected for years to come, said Khalid Sultan R. Al Kuwari, Chief Marketing and Shipping Officer of RasGas Company Limited at the CWC 16th World LNG Summit, Rome, Italy. ...

OSD develops new Riserless Light Well Intervention/IMR vessels for Austin Offshore

OSD-IMT is designing two 120 m IMT9120 Riserless Light Well Intervention/IMR vessels for Austin Offshore Pte Ltd, the shipping arm of Upstream Drilling Pte Ltd, Singapore. ...

Tracerco to provide smart tracer technology for new wells in Statoil’s Mariner field

Tracerco, part of FTSE100 firm Johnson Matthey Plc, has landed a contract to provide smart tracer technology for flow measurement of six new wells in Statoil’s Maureen reservoir of the Mariner field in the UK North Sea. ...

Ensco appoints Carey Lowe as new COO; Mark Burns retires

Ensco has announced that Carey Lowe has been named as the new chief operating officer. He is based in London and succeeds Mark Burns, who is retiring from the company. ...

Stacked Maersk jackup to be refurbished for accommodation contract

Maersk Drilling has been awarded a contract with Maersk Oil for the jackup rig Maersk Guardian for accommodation on various fields in the Danish part of the North Sea. ...

Oil holds losses near 6-year low after OPEC abandons target

Oil held losses near the lowest level in more than six years on speculation a global glut will be prolonged after OPEC effectively abandoned its strategy of limiting output to control prices. ...

Woodside abandons $8-billion takeover bid for Oil Search

Woodside Petroleum has withdrawn its proposal to take over Oil Search Ltd. nearly three months after the bid was rejected. ...

Kerui Group becomes first Chinese exporter of nitrogen generator for U.S.

Kerui Group recently shipped its single skid-mounted 1,200Nm3/h membrane nitrogen generator for the U.S after a week-long evaluation by the client, making it China's first membrane separation nitrogen generation system for oil stimulation to be exported to U.S. ...

Costly methane regulations unnecessary: IPAA, AXPC

Independent Petroleum Association of America (IPAA) and American Exploration and Petroleum Council (AXPC) submitted formal comments last Friday to the U.S. Environmental Protection Agency (EPA) regarding its proposal for additional methane regulations on oil and natural gas wells. ...

TAM International strengthens management team

TAM International, an independent oilfield services company providing inflatable and swellable packers, has announced strategic changes in its U.S., Latin American, and global leadership roles. ...

Husky Energy continues Flemish Pass appraisal, secures rig

Husky Energy and its partner continue to advance appraisal work on the landmark Bay du Nord oil discovery offshore Newfoundland and Labrador, the company announced Monday. ...

RGU announces key Oil and Gas Institute appointments

Robert Gordon University (RGU) has announced two key appointments to its Oil and Gas Institute (OGI). ...

Douglas Westwood acquired by ESIA

Energy Software Intelligence Analytics (ESIA) has completed the acquisition of Douglas Westwood. The acquisition represents ESIA’s next step in delivering a growth strategy for the company that includes a mix of new product development and acquisitions. ...

Lundin Petroleum spuds Imbok exploration well, offshore Malaysia

Lundin Malaysia has started drilling the Imbok-1 exploration well in Blocks SB307 and SB308, offshore East Malaysia. ...

Devon Energy to buy acreage in Anadarko, Power River basins

Devon Energy has agreed to acquire 80,000 net surface acres, with up to 10 prospective zones, in the Anadarko basin STACK play from privately held Felix Energy, a portfolio company of EnCap Investments, for $1.9 billion. ...

OPEC unshackled from quota could add millions of barrels in 2016

OPEC’s new free-for-all production stance could lift the lid on millions of barrels of additional crude supply next year. ...

KrisEnergy kicks off Sakti exploration well in East Java Sea

KrisEnergy Ltd. has commenced drilling of the Mustika-1 exploration well in the KrisEnergy-operated Sakti production sharing contract (PSC). ...

SocGen says buy oil now as OPEC must cut output to stop bleeding

Now’s the time to buy oil as OPEC members suffering swollen fiscal deficits will be prompted to curb output, according to Societe Generale SA, which predicts a price rebound next year. ...

OPEC's divisions keep oil low and volatile: Mohamed A. El-Erian

The failure of the Organization of Petroleum Exporting Countries to reach any meaningful agreement at their meeting in Vienna on Friday confirmed that the historic storm besetting the oil market has markedly reduced this once- powerful group's effectiveness and influence. ...

Oil extends decline below $40 as OPEC abandons production target

Oil extended losses below $40/bbl amid speculation a record global glut will be prolonged as OPEC abandoned its long-time strategy of limiting production to control prices. ...

Harkand strengthens its position in West Africa with three-year award in Angola

Harkand and its local consortium partner TOS Angola Lda has secured a three-year contract to deliver inspection, repair and maintenance (IRM) services in Angola for a major international oil company operating in the West Africa region. ...

Ziebel celebrates milestone with 100th Z-ROD® intervention

Ziebel has completed its 100th Z-Rod® distributed fiber optic sensing job. ...

Egypt to Freeze Israeli gas import talks after $1.7 billion arbitration court fine

The Egyptian Government ordered its oil and gas arms to freeze talks on importing Israeli natural gas after an international arbitration court ordered the Arab world’s most populous nation to pay a fine of almost $1.73 B to Israel. ...

Indonesia returns to OPEC as an oil consuming nation

With the International Energy Agency predicting that Indonesia will import 40% of its oil needs by 2018, OPEC is getting a consumer in their midst. ...

Azeri oil worker dies, 30 missing after rig fire: SOCAR

An oil worker died and 30 were missing in Azerbaijan after an offshore platform caught fire, the State Oil Co. of Azerbaijan said in a statement. ...

U.S. drillers idle 10 oil-directed rigs: Baker Hughes

Drillers in the U.S. idled ten oil-directed rigs this week, according to the latest data from Baker Hughes. ...

Drillers idle 10 oil-directed rigs: Baker Hughes

Drillers in the U.S. idled ten oil-directed rigs this week, according to the latest data from Baker Hughes. ...

OPEC maintains crude production as group defers output target

OPEC agreed to set a new oil-output ceiling of 31.5 MMbpd, according to a delegate with knowledge of the decision. Crude fell as much as 2.3% in New York. ...

OPEC sets new output ceiling at 31.5 MMbopd, delegate says

OPEC agreed to set a new oil-output ceiling of 31.5 MMbpd, according to a delegate with knowledge of the decision. Crude fell as much as 2.3% in New York. ...

CEO of U.S. oilfield services company predicts rumbling in OPEC ranks

Dan K. Eberhart, the CEO of Canary, LLC, one of the largest private oilfield service companies in America, doesn't expect OPEC leaders to reduce oil production as a result of their meeting in Vienna. However, Eberhart does expect that decision could mean a "family feud" between Saudi Arabia and fellow OPEC nation members. ...

Texas LNG selects Honeywell technology for facility in South Texas

Honeywell has announced that its natural gas technology and process automation have been selected by Texas LNG, a Houston-based energy company, to remove contaminants from natural gas in preparation for liquefaction and export to customers around the globe. ...

Suncor Energy extends Canadian Oil Sands offer

Suncor Energy has extended its offer to Canadian Oil Sands Limited shareholders. ...

IPAA cheers House passage of legislation to lift oil export ban

The U.S. House of Representatives passed a bipartisan energy package Thursday, which included an amendment offered by Rep. Joe Barton (R-TX) to lift the ban on U.S. crude oil exports. ...

Twenty six companies apply for acreage in Norway’s latest licensing round

The application deadline for production licenses in Norway’s 23rd licensing round expired on Wednesday, with 26 companies applying for exploration acreage. ...

U.S. Water launches new inhibitors for hydraulic fracturing and production well applications

U.S. Water has introduced new ScaleGone and ScaleGone CI, an innovative, long-lasting, slow release, solid scale inhibitor (SI) and combined SI/corrosion inhibitor (CI) for hydraulic fracturing fluids as well as use in producing wells. ...

CEO of U.S. oil field services company predicts rumbling in OPEC ranks

Dan K. Eberhart, the CEO of Canary, LLC, one of the largest private oil field service companies in America, doesn't expect OPEC leaders to reduce oil production as a result of their meeting Friday in Vienna, Austria. ...

Texas LNG selects Honeywell Technology for new LNG production facility in South Texas

Honeywell has announced that its natural gas technology and process automation have been selected by Texas LNG, a Houston-based energy company, to remove contaminants from natural gas in preparation for liquefaction and export to customers around the globe. ...

Suncor Energy extends Canadian Oil Sands Offer to Jan. 8, 2016

Suncor Energy has extended its offer to Canadian Oil Sands Limited shareholders. ...

Billionaires must face suit over sale of BP Russian venture

Billionaires Leonard Blavatnik and Viktor Vekselberg must face a lawsuit by a Russian businessman who says they owe him more than $2 billion from the sale of an oil and gas producer, a New York state judge ruled. ...

LNG builders plan life after $170 billion boom in Australia

Australia’s $170 billion liquefied natural gas construction boom is winding down, and the hunt for new work is picking up. ...

New thermal insulative coating enhances personnel protection, minimizes corrosion

Oil and gas operators looking to enhance worker safety and minimize corrosion under insulation (CUI) risks can now turn to a new insulative acrylic coating ...

OTC and Hecate introduce new digital pressure testing software

Offshore Technical Compliance (OTC) in partnership with Hecate Software announces the introduction of GREENLIGHT, a new digital pressure testing software suite which provides reliable pressure analysis and compliance oversight. ...

U.S. demand for oilfield chemicals to exceed $10 billion in 2019

U.S. demand for oilfield chemicals is forecast to increase to $10.3 billion in 2019, with healthy growth overcoming declines expected in 2015 and 2016. ...

CGG Geoconsulting introduces Seep Explorer and GLOGOS

CGG GeoConsulting is pleased to announce that it has acquired GLOGOS, the Global Onshore Gas-Oil Seeps data set, from Gas Consult. ...

Seatronics delivers cost savings with Meridian Ocean Services in Mexico

Seatronics, an Acteon company, has successfully completed a project with marine services organization Meridian Ocean Services in Mexico. ...

Brent rebounds from six-year low as OPEC meeting looms

Oil rebounded from the lowest price in more than six years in London as the Organization of Petroleum Exporting Countries prepares to meet on Friday. ...

Anadarko achieves new Mozambique LNG milestones

Anadarko Petroleum Corporation has announced that it has signed a Unitization and Unit Operating Agreement (UUOA) for the development of the massive natural gas resources that straddle two blocks. ...

Westcon delivers battery system to Viking Energy

Eidesvik Offshore announced a few weeks ago that an Energy Storage System will be installed onboard the LNG fueled vessel Viking Energy. ...

Xodus delivers AUS $1.5 million-contract for INPEX LNG project

Xodus Group has landed a project to a deliver a suite of more than 40 offshore operating manuals for the Ichthys LNG project operated by INPEX and located off the coast of Western Australia. ...

CNOOC signs PSC with Husky

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed production sharing contract (PSC) with Husky Oil Operations (China) Limited (Husky) for Block 15/33 in the South China Sea. ...

Oil rig count soars in unlikely OPEC nation before Vienna talks

All across the Americas, drilling rigs are being idled as oil prices hover near six-year lows. ...

Statoil seeks new acreage on Norwegian continental shelf

Statoil has delivered its application for the 23rd licensing round on the Norwegian continental shelf to the Norwegian authorities. ...

Shell-BG merger receives final Australian regulatory clearance

Royal Dutch Shell has announced that its recommended combination with BG Group has received approval from the Australian Foreign Investment Review Board (FIRB). ...

North Atlantic Drilling, Jurong Shipyard reach agreement on new semisubmersible

North Atlantic Drilling Ltd. has reached a standstill agreement, effective until June 2016, with Jurong Shipyard for the delivery of the sixth generation harsh environment semi-submersible drilling rig, the West Rigel. ...

CNOOC signs PSC with Husky Oil for South China Sea

CNOOC has signed production sharing contract (PSC) with Husky Oil Operations (China) Limited for Block 15/33 in the South China Sea. ...

Saudis to propose conditional OPEC cuts in 2016, EI reports

Saudi Arabia, the world’s largest crude exporter, may propose an eventual OPEC production cut of 1 MMbopd that may take effect in 2016, Energy Intelligence reported Thursday, citing a group delegate it didn’t identify. ...

European Union’s largest gas producer is now its latest importer

The European Union’s biggest natural gas producer has joined most of the rest of the 28-nation bloc and become reliant on others as it posted its first quarter of imports. ...

OPEC states push for oil curbs as Saudis insist on global effort

Cash-strapped OPEC nations from Venezuela to Iran are piling pressure on Saudi Arabia to reduce oil output, yet the group’s biggest producer insists it will only do so if countries outside the organization join the effort. ...

Bosque Systems releases OptiFluids, saving producers up to 30% on chemicals costs

Bosque Systems LLC, has announced the release of a new system, called OptiFluids, which saves producers up to 30% on the cost of chemicals used in hydraulic fracturing. ...

SignalFire adds new productivity tools for wireless remote sensing systems

SignalFire Wireless Telemetery has added new tools and capabilities to its Field Setup and Diagnostic ToolKit that optimize the user-friendliness and customer productivity of its range of Wireless Remote Sensing Systems. ...

CBandI wins maintenance contract for Cheniere's Sabine Pass LNG facilities

CBandI has been awarded a contract by Cheniere Energy for general maintenance services including preventive maintenance, repair and testing services for the regas and liquefaction facilities at its Sabine Pass LNG terminal in Cameron Parish, La. ...

Weatherford recognized for environmental stewardship in South Texas

On Tuesday, November 17, Weatherford accepted the 2015 Eagle Ford Excellence Award for Environmental Stewardship from the South Texas Energy and Economic Roundtable (STEER). ...

Schlumberger warns of more job cuts on dim outlook

Schlumberger has warned of another round of layoffs as the upstream industry continues to grapple with depressed oil prices. ...

Schlumberger warns of more job cuts ahead on dim outlook

Schlumberger has warned of another round of layoffs as the upstream industry continues to grapple with depressed oil prices. ...

Iraqi Kurdistan delays oil output target on cost of IS fight

Iraq’s Kurdish region, where Genel Energy Plc and DNO ASA pump oil, delayed a target to produce 1 MMbpd as the cost of fighting Islamic State militants saps resources. ...

Polarcus utilizes XArray to complete first commercial project offshore Australia

Polarcus recently completed its first commercial project offshore Australia utilizing the XArray in a five source configuration known as Penta source. ...

GDS International implements GE's Equipment Insight solution to optimize performance

GE has announced that GDS International LLC, otherwise known as Global Drilling Support (GDS), has implemented its Equipment Insight solution at drilling rigs located in the Marcellus region of Pennsylvania to improve data collection, analytics and management capabilities. ...

Texas EOR Associates licenses new EOR technologies

Texas EOR Associates, a developer of enhanced oil recovery (EOR) technologies and opportunities, has licensed exclusive U.S. waterflood, fracing and gas injection-EOR rights to patented oil flow optimization technologies based on reservoir pore-clearing EOR surfactant solvents, micro-clustered injection water and rig-less solvent-application tools developed by SCT LLC of Bakersfield, California. ...

Hydratight seals deal with Subsea 7

Hydratight has won one of the largest pipeline connector orders in the industry from Subsea 7 to support their Emergency Pipeline Repair System (EPRS) project in Australia. ...

East Africa a hotbed for energy investments

East Africa is emerging as a hotbed for energy related investments not only for its robust economic growth, but also for its potential to become one of the largest producers and exporters of oil and natural gas in the world. ...

Wood Group opens new automation facility in Slovakia

Wood Group has expanded into Slovakia, opening an office in Bratislava that The Automated Technology Group, a Wood Group Mustang company, will use to support automation projects in Slovakia and the surrounding region. ...

ABB commissions cable to deliver power to Goliat FPSO

ABB has successfully commissioned a subsea power link for oil and gas company Eni Norge. The link will supply power from the Norwegian grid to the new Goliat Floating, Production, Storage and Offloading unit. ...

Eni signs PSC for three shallow-water fields offshore Mexico

Eni and the Comisión Nacional de Hidrocarburos of Mexico (CNH) have signed a production sharing contract (PSC) for the development and exploitation of Amoca, Miztón and Tecoalli oil fields, in the Bay of Campeche, offshore Mexico. ...

McFarland named IADC interim president as Colville resigns

The International Association of Drilling Contractors (IADC) has announced the resignation of Stephen A. Colville as president and CEO and the appointment of Jason E. McFarland as interim president, effective immediately. ...

LNG falls faster than oil as U.S. fracing spurs glut growth

Spare a thought for anyone who bet on a recovery in liquefied natural gas prices after last year’s 45% plunge. ...

Bill Barrett Corp. closes sale of assets in Uinta and DJ basins

Bill Barrett Corp. has closed the sale of non-core properties in the Uinta basin and DJ basin for net cash proceeds of approximately $56 million, the company said Tuesday. ...

Impact of selling off Strategic Petroleum Reserve detailed in new report

U.S. Sen. Lisa Murkowski (R – Alaska) has released a new report on the importance of the Strategic Petroleum Reserve (SPR) detailing the potential impacts of selling oil from the reserve to pay for unrelated legislative initiatives. ...

As OPEC meets, oil traders see prices stagnating into 2017

The world’s largest independent oil traders said supplies will overwhelm demand into next year and prices may not rally until 2017, painting a gloomy outlook for energy-rich nations as OPEC gathers to discuss output policy. ...

Russian oil output stays near record level as OPEC set to meet

Russian oil output in November hovered near a post-Soviet record set the previous month, shrugging off a crude-price slump before OPEC gathers for its annual meeting in Vienna. ...

LNG falls faster than oil as U.S. fracking spurs glut growth

Spare a thought for anyone who bet on a recovery in liquefied natural gas prices after last year’s 45% plunge. ...

Sembcorp Marine falls to lowest in six years on loss warning

Sembcorp Marine Ltd., the world’s second- largest rig builder, slumped to the lowest price in more than six years in Singapore trading after the company said it expects to post its first quarterly loss since 2003. ...

European Hydrocarbons enters into First Extension Period of Sierra Leone license

African Petroleum’s wholly owned subsidiary European Hydrocarbons Limited (EHL) has entered into the First Extension Period on the SL-03 license, offshore Sierra Leone. ...

Texas land commissioner Bush intervenes in lawsuit against BLM

Commissioner George P. Bush has announced the General Land Office (GLO) will intervene in the lawsuit challenging the federal government’s unconstitutional seizure and arbitrary taking of Texas Permanent School Fund (PSF) land along the Red River. ...

Murkowski calls for adaptable Arctic leasing structure after Shell, Statoil exit Alaska offshore

Proposed changes to federal rules regulating oil and natural gas activity on the Outer Continental Shelf and in the Arctic are necessary to create a predictable regulatory framework that supports safe exploration and American leadership in the Arctic, U.S. Sen. Lisa Murkowski (R – Alaska) said Tuesday. ...

Canadian Oil Sands wins time for bids as Suncor mulls steps

Canadian Oil Sands Ltd.’s shareholders won another month to find suitors willing to counter Suncor Energy Inc.’s C$4.5 billion ($3.37 billion) hostile takeover offer. ...

Oil bulls brace for repeat of OPEC's bearish blow at meeting

Hedge funds are betting this week’s OPEC meeting will deliver another bearish blow to crude. ...

Oil steadies after worst month since July, as OPEC members gather

Oil was little changed after its biggest monthly decline since July as OPEC ministers arrive in Vienna ahead of this week’s policy meeting. ...

Land commissioner Bush intervenes in lawsuit against BLM

Commissioner George P. Bush has announced the General Land Office (GLO) will intervene in the lawsuit challenging the federal government’s unconstitutional seizure and arbitrary taking of Texas Permanent School Fund (PSF) land along the Red River. ...

Saudi oil minister pledges to listen to other OPEC members

Saudi Arabia will discuss all issues at the OPEC meeting on Friday and listen to concerns of other members, said the nation’s Oil Minister Ali al-Naimi. ...

Maersk Drilling secures contract for Maersk Venturer with Total

Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. ...

Millionth tonne of oil produced at Prirazlomnoye field: Gazprom Neft

The millionth tonne of oil has been produced at Prirazlomnoye field, Gazprom Neft, the field’s operator, said. Part of a consignment dispatched on the Mikhail Ulyanov tanker, it will be delivered to customers in North West Europe in early December. ...

NOVATEK starts production at Yarudeyskoye oil field

OAO NOVATEK has started commercial production at Yarudeyskoye oil field, which is expected to rapidly reach its planned daily production level equivalent to approximately 3.5 million tons of crude oil on an annualized basis. ...

Wood Group strengthens specialist vibration service with key appointments

Wood Group has appointed three senior engineering specialists who will lead a new team of up to 20 people in the UK to further build Wood Group’s capability in vibration, dynamics and noise. ...

INEOS completes deal to acquire DEA UK North Sea gas fields

INEOS has completed the purchase of the North Sea natural gas assets of DEA Deutsche Erdoel AG, which is owned by L1 Energy. ...

Statoil to divest interest in Trans Adriatic Pipeline

Following the divestment of its share in the Shah Deniz gas field in Azerbaijan, Statoil has agreed to sell its 20% interest in Trans Adriatic Pipeline AG to the Italian gas infrastructure company Snam SpA for a total consideration of $220.4 million (EUR 208 million). ...

DNV GL presents DSIC with world’s first AiP for LNG-fuelled VLCC design

DNV GL has presented Dalian Shipbuilding Industry Company Limited (DSIC) with an Approval in Principle (AiP) certificate for a new LNG-fuelled very large crude carrier (VLCC) design at the first day of the Marintec China trade fair. ...

Canadian oil sands wins more time for bids as Suncor mulls steps

Canadian Oil Sands Ltd.’s shareholders won another month to find suitors willing to counter Suncor Energy Inc.’s C$4.5 billion ($3.37 billion) hostile takeover offer. They may lose Suncor’s bid in the process. ...

Transocean’s Norway deal marks new rig-rate low in oil slump

Transocean Ltd., the biggest offshore-rig operator, won a contract to drill four wells off Norway for Det Norske Oljeselskap ASA at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year. ...

Kurds pay oil companies for third month to maintain output

The Kurdistan Regional Government paid international oil companies operating in the Iraqi autonomous region for a third consecutive month, disbursing funds that it says will allow production to be maintained. ...

Oil bulls brace for repeat of OPEC’s bearish blow at meeting

Hedge funds are betting this week’s OPEC meeting will deliver another bearish blow to crude. ...