Oil falls as surging OPEC production seen bolstering global glut

Oil fell from a five-month high as surging OPEC crude production is seen swelling global stockpiles. ...

Eleven found dead after helicopter crash off west Norway

At least 11 died and two were missing after a helicopter carrying people from a Statoil ASA-operated oil and gas field offshore Norway crashed near Bergen on Norway’s west coast. ...

Exxon posts smallest profit since 1999 amid global oil slump

Exxon Mobil Corp. posted its weakest quarterly profit in more than a decade amid tumbling energy prices that have already cost the world’s biggest non-state oil explorer its sterling credit rating. ...

Helicopter crashes heading back from Norway oil platform

A helicopter heading back from an oil and gas field offshore Norway crashed outside of Bergen on the country’s west coast, Statoil ASA said. ...

SIMMONS EDECO wins key contract with major operator

SIMMONS EDECO, a supplier of wellhead and valve maintenance and onshore drilling services, has been awarded a multi-million-dollar contract by a major North Sea oil and gas operator. ...

BESTOLIFE rolls out versatile HONEY KOTE drilling compound

BESTOLIFE Corporation has unveiled its latest innovation in premium copper-based drilling compounds. ...

Honeywell introduces Matrikon OPC UA software development kit

Honeywell Process Solutions (HPS) has introduced the Matrikon OPC Unified Architecture (OPC UA) Software Development Kit (SDK), a single fully scalable toolkit to allow users to quickly and easily interconnect industrial software systems, regardless of the platform, operating system or size. ...

BP awards Petrofac Duty Holder contract for Miller platform

Petrofac has been awarded a Duty Holder contract from BP to support the late life management of the Miller platform, located in the Central North Sea. ...

Premier Oil completes acquisition of E.ON's North Sea assets

Premier Oil has completed the acquisition of the UK North Sea assets of E.ON, the London-headquartered company said Friday. ...

Yamal LNG gets $12-billion in Chinese loans amid sanctions

Yamal LNG signed agreements for financing with two Chinese banks after more than a year of discussions after its biggest shareholder, Novatek OJSC, was targeted by U.S. sanctions. ...

Guerrillas and rebels do for oil market what producers couldn't

Leftist guerrillas in Colombia, rebels in Libya and militants in Nigeria are succeeding where the world’s biggest oil producers failed, helping keep a 1.5 MMbpd surplus from expanding. ...

Eni posts larger-than-expected loss amid oil price slump

Eni posted a first-quarter loss that was worse than analysts’ estimates amid a collapse in crude prices. ...

PSAC revises 2016 drilling forecast, significantly lowering activity

Today the Petroleum Services Association of Canada (PSAC), in its second update to the 2016 Canadian Drilling Activity Forecast, announced it revised the forecasted number of wells drilled (rig releases) across Canada for 2016 to 3,315 wells. ...

ConocoPhillips cuts spending 11% as losses mount

ConocoPhillips is reducing spending further as it posted the fourth straight quarterly loss amid an oil rout that continues to strain independent producers. ...

Cnooc revenue drops as output gain outweighed by oil tumble

Cnooc Ltd., China’s biggest offshore oil and gas explorer, reported a 31% decline in revenue and an increase in output amid a crash in crude prices. ...

Tullow's Jubilee field to resume production offshore Ghana

Tullow Oil Plc said production at its flagship field offshore Ghana will resume in the next few days, while another project under development in the nation’s waters remains on track. ...

McDermott completes Otis Subsea tieback for LLOG

McDermott International has completed the installation scope associated with the Otis development in the Gulf of Mexico on behalf of LLOG Exploration Offshore. ...

Wood Mac sees major supply shortfall by 2035 if exploration results don't improve

The global oil market could face a supply shortfall of 4.5 MMbpd by 2035 if exploration success doesn't improve, according to a new study by Wood Mackenzie. ...

Transocean delays delivery of ultra-deepwater drillships

Transocean has reached an agreement with Sembcorp Marine's subsidiary, Jurong Shipyard Ptd Ltd, to defer the delivery and related final payments of two dynamically positioned ultra-deepwater drillships. ...

Global supply shortfall of 4.5 MMbopd by 2035 if exploration results don't improve

The global oil market could face a supply shortfall of 4.5 MMbpd by 2035 if exploration success doesn't improve, according to a new study by Wood Mackenzie. ...

Wood Group wins $500-million EPCM contract in Azerbaijan

ABERDEEN, Scotland -- Wood Group has won a new five-year contract with BP-operated projects, valued at $500 million, to deliver services to eight facilities, offshore Azerbaijan. ...

Samsung Heavy loses $4.6-billion FLNG order from Shell on oil drop

Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said an order to build three floating LNG production facilities was canceled after the energy development project was scrapped amid a plunge in oil prices. ...

Suncor purchases additional Syncrude stake, holds majority

Suncor Energy will have a majority stake in the Syncrude Canada oil sands mine after the Canadian petroleum producer bought an additional stake from Murphy Oil Corp.’s Canadian subsidiary. ...

Top oil service firms mull North America retreat as losses mount

Two of the three largest oil rig operators and fracers are considering pulling back from the North American market as losses mount. ...

AccessESP successfully installs first commercial Access375 systems in Alaska

AccessESP, a provider of rigless electric submersible pump (ESP) conveyance solutions for the worldwide oil industry, has successfully installed two of its new Access375 systems on the North Slope of Alaska, the first commercial deployments of this system. ...

WTI climbs above $45 amid U.S. crude output drop, Fed statement

Oil closed above $45/bbl in New York for the first time since November after U.S. crude output dropped and Federal Reserve policy makers signaled they’re open to raising interest rates in June. ...

Baker Hughes gains after larger-than-expected quarterly loss

Baker Hughes Inc. gained even after reporting a larger-than-expected first-quarter loss as a financial crisis in the oil industry forces explorers to slash spending. ...

Drilling at Manora Oil Development in Gulf of Thailand complete

Mubadala Petroleum, operator of the Manora Oil Development joint venture, has advised that drilling of the MNA-15 and MNA-16 development wells in the Northern Gulf of Thailand has now been completed. ...

Deep Casing Tools expands into new territories

Casing and completion tools specialist Deep Casing Tools has expanded into the Kazakhstan market with its reaming and unique drillable turbine technology. ...

Schlumberger to acquire Xtreme coiled tubing drilling units

Schlumberger has announced that it has entered into an agreement to acquire the coiled tubing drilling and coiled tubing units from Xtreme Drilling and Coil Services Corp., a Calgary-based provider of international land drilling and coiled tubing drilling services. ...

Technip awarded contract extension for Logistic Base in Brazil

Technip has signed a four-year extension of its five-year initial contract, signed in January 2011 with Petrobras S.A. for its Flexible Pipes Logistic Base (BAVIT), located in Vitória, Brazil. ...

Statoil posts surprise profit as lower costs offset oil drop

Statoil ASA, Norway’s biggest oil company, unexpectedly posted a profit in the first quarter as cost cutting helped offset the lowest crude prices in almost 12 years. ...

Top Norwegian rainmaker predicts oil crash is nearing bottom

Shipping is about to lead a recovery in global offshore markets that have been battered by plunging oil prices, according to one of Norway’s biggest dealmakers over the past three decades. ...

CNPC posts 52% decline in profit

China National Petroleum Corp. (CNPC), the country’s biggest oil and gas producer and the parent of PetroChina Co., said profit fell 52% as lower oil prices punished global explorers. ...

Aker Solutions and ABB join forces to power subsea production

Aker Solutions and ABB agreed to build on their combined strengths in subsea, power and automation technologies to develop solutions that will improve oil and gas production for the global energy industry. ...

API: Key moment for next decade of U.S. energy leadership and affordable energy

API called on the administration to maintain and promote U.S. oil and natural gas development through the Bureau of Ocean Energy Management's (BOEM) 2017-2022 offshore program, API Group Director of upstream and industry operations Erik Milito said today in a briefing with journalists. ...

EV acquires Epidote Limited

Specialist in well diagnosis, EV, has announced the acquisition of Aberdeenshire-based well integrity software supplier, Epidote Limited, to enable a world-class well diagnosis service. ...

Exxon Mobil loses top credit rating it held since Great Depression

Exxon Mobil Corp. was demoted from the top credit rating by Standard and Poor’s for the first time since the Great Depression as the collapse of the biggest oil-market rally in history strangled cash flows. ...

Murkowski highlights need to boost U.S. oil, gas development in low price environment

The current low price environment surrounding oil and gas development presents an opportunity to pursue federal reforms that will boost energy production and provide economic benefits across the nation, U.S. Sen. Lisa Murkowski, R-Alaska, said Tuesday. ...

Crude oil increases as excess global stockpile seen shrinking

Oil rose amid signs that a global surplus is gradually diminishing, even as markets remain oversupplied. ...

Baker Hughes introduces non-phosphorous corrosion inhibitor for cooling water systems

Baker Hughes announced today the commercial release of its LIFESHIELD non-phosphorous corrosion inhibition program for industrial cooling water systems. ...

TIW UK secures three-year contract extension with Total EandP UK

TIW UK Limited has signed a three-year contract extension with Total EandP UK. ...

Russia sees no moves to cap oil output before June OPEC meeting

Russia doesn’t anticipate any new initiatives to freeze oil production before an OPEC meeting scheduled for June, according to Energy Minister Alexander Novak. ...

CNOOC starts production at Panyu 11-5 oil field in South China Sea

HONG KONG -- CNOOC’s Panyu 11-5 oil field has started production, the company said in a statement. ...

Gazprom Neft, Wintershall to cooperate on EOR research

Gazprom Neft PJSC and Wintershall Holding GmbH have signed a cooperation agreement for conducting research into enhanced oil recovery (EOR), aimed at maintaining or increasing oil production from mature fields. ...

Maersk Oil awards four-year contract for Culzean development

Maersk Oil has awarded information management specialist Datum360 a four-year contract to implement Software as a Service (SaaS) solutions for the Culzean development in the UK North Sea. ...

BP reports surprise profit on strength in refining, trading

BP Plc reported a surprise first-quarter profit as a stronger-than-expected refining and trading performance helped mitigate the impact of sliding crude prices. ...

Oil's recovery inches higher as fraclog awaits price trigger

Oil’s rebound from the lowest level in more than 12 years may face an abrupt halt as prices near a level that could trigger a wave of new U.S. shale production. ...

Pioneer Natural boosts full-year output target on shale gushers

Pioneer Natural Resources Co. lifted its 2016 production growth target without increasing spending because wells drilled in a West Texas shale field are pumping more crude than expected. ...

Saudi prince says Aramco valuation above $2 trillion

Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman said he expects the value of Saudi Arabian Oil Co. to exceed $2 trillion as the kingdom prepares to sell part of the company in what could be the world’s largest initial public offering. ...

Weir Oil and Gas unveils next generation of valve and seat technology

Weir Oil and Gas has unveiled the new SPM 2.0 valve and seat for well stimulation pumps used in shale plays globally. ...

Peak’s SIMULTRA retrievable bridge plug receives V0 certification at 10,000 psi

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has reached a major milestone in the development program for its SIMULTRA range of retrievable bridge plugs with the successful ISO-14310 V0 gas testing of the 4-1/2 in. tool in 15.1 lb API pipe at an industry leading 10,000 psi and 175°C specification. ...

Delayed Halliburton call has analysts doubtful on Baker deal

A delay in releasing Halliburton Co.’s first-quarter earnings has raised analysts’ doubts over the prospects for a takeover of rival Baker Hughes Inc. ...

GE seen becoming third largest oilfield service provider

GE may become the third largest oilfield service provider in 2016 if the company buys the planned divestments by Halliburton and Baker Hughes, according to the latest estimate by Rystad Energy. ...

Apache awards Subsea 7 contract offshore UK

Apache North Sea has awarded Subsea 7 a sizeable engineering, procurement, installation and commissioning (EPIC) contract for the Callater field development, located 335 km northeast of Aberdeen, Scotland. ...

Wood Group secures four Statoil contracts

Wood Group has recently won four subsea contracts with Statoil on the Norwegian Continental Shelf (NCS). ...

Exxon Mobil starts production at Point Thomson on Alaska’s North Slope

Exxon Mobil has started production at its Point Thomson project, the first company-operated project on Alaska’s North Slope. ...

Crude tankers bound for China surge amid stockpiling signals

China, the world’s second-biggest crude consumer, may be poised for another increase in imports after the number of supertankers bound for the Asian country’s ports rose to a 16-month high amid signs it’s stockpiling. ...

Low crude prices to spur more MandA after slump

Low oil prices will spur more mergers and acquisitions in the oil and gas industry this year with some companies forced to sell to avoid bankruptcy, according to consultants A.T. Kearney. ...

Aramco said to expand oil field in May to maintain Saudi capacity

Saudi Arabian Oil Co. will complete the expansion of its Shaybah oil field by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, according to two people with knowledge of the plan. ...

Schlumberger CEO sees ‘full-scale cash crisis' in oil sector

Schlumberger cut more jobs in the first quarter as the world’s largest provider of oilfield services sees the industry in an unprecedented downturn. ...

Newpark Resources announces leadership change in Mats, Integrated Services business

Newpark Resources has announced the retirement of Jeff Juergens. He has served as corporate V.P. and president of the Mats and Integrated Services business since October 2010. ...

Halliburton reports $2.1 billion charge on job cuts assets

Halliburton Co., the world’s largest provider of fracing services, said it will take a $2.1-billion charge in the first quarter for the cost of reducing headcount and asset value write-offs as it grapples with the collapse of oil prices. ...

CGG GeoSoftware launches VelPro 9.5 velocity modeling software

CGG GeoSoftware has released VelPro 9.5, a velocity modeling and depth conversion commercial software technology used by interpreters and velocity modeling experts to integrate seismic and well velocity information, horizons, faults, and well tops into robust and data-driven velocity models. ...

Oil climbs to five-month high as traders see market rebalancing

Oil advanced to a five-month high as declining U.S. crude production provided more evidence that the market is rebalancing. ...

Packers Plus advances high frac intensity capabilities with 50-stage wells in the Williston basin

Packers Plus Energy Services Inc. has announced the successful completions of multiple wells in North Dakota’s Bakken formation, using advanced high frac intensity systems, specifically designed for extended reach wells. ...

Packers Plus advances high frac intensity capabilities in the Williston basin

Packers Plus Energy Services Inc. has announced the successful completions of multiple wells in North Dakota’s Bakken formation, using advanced high frac intensity systems, specifically designed for extended reach wells. ...

Analyst who called Pacific EandP crash has a new Colombia oil bet

Ian Macqueen, the analyst who called Pacific Exploration and Production’s downfall, has a new buy recommendation for investors looking to benefit from Colombia’s oil potential. ...

Bowleven granted licence extension for Bomono project onshore Cameroon

Bowleven, the Africa focused oil and gas exploration group traded on AIM announced that it has been awarded a one-year extension to the existing Bomono exploration licence, onshore Cameroon, pending the final award of an Exploitation Authorization (EA). ...

Oil majors' $100 hangover hurts profit as cost cuts fall short

The world’s biggest oil companies, set to report their worst quarterly earnings in more than a decade, are finding their cost-cutting efforts haven’t matched the decline in crude prices over the past two years. ...

Ex-Cheniere CEO Souki's pay gained sevenfold last year

HOUSTON (Bloomberg) -- Former Cheniere Energy Inc. CEO Charif Souki made $54 million in his last year at the helm of the U.S. natural gas exporter, a seven-fold increase from 2014 thanks almost entirely to cash tied to the company’s stock and other incentives. ...

Oil set for third weekly gain as investors eye falling output

Oil is poised for a third weekly advance as declining U.S. crude production provided more evidence that the market is rebalancing. ...

Wild Well raises the bar for riserless plug and abandonment

Wild Well Control, a Superior Energy Services company, said Thursday that its DeepRange tool, in conjunction with its 7Series riserless intervention system, has successfully performed full plug and abandonment operations on four subsea wells in the Gulf of Mexico. ...

Oil megaprojects dreamed up a decade ago thrive amid price slump

Oil production in some of the riskiest, highest-cost regions of North America is still thriving, even as the worst slump in a generation takes a bite out of U.S. shale. ...

Schlumberger cuts more jobs as CEO sees industry cash crisis

Schlumberger Ltd. cut another 2,000 jobs in the first quarter as the world’s largest provider of oilfield services sees the industry in a full-scale crisis. ...

Veolia signs long-term contract to supply water treatment chemicals to TOTAL in Angola

Veolia Water Oil and Gas Angola Lda has been contracted by TOTAL and Sonangol to supply Veolia’s range of Hydrex chemicals for its FPSO fleet operating off the coast of Angola. ...

PetroQuest closes sale of majority of Woodford Shale assets

PetroQuest Energy, Inc., has announced the closing of the sale of the majority of its remaining Woodford Shale assets in East Hoss field for gross proceeds of $18 million, subject to purchase price adjustments between the effective date of April 1, 2016, and the closing date. ...

Oil slips from five-month high amid ample U.S. supply OPEC doubts

Oil retreated from the highest level in almost five months amid rising U.S. crude stockpiles and speculation producers will be unable to agree on an output freeze. ...

American Energy-Woodford formalizes name change transitions to standalone company

American Energy-Woodford, LLC, has announced that, effective March 25, 2016, the company changed its name to White Star Petroleum, LLC. White Star will complete its transition to a standalone company, fully independent of the American Energy Partners. ...

Aqualis Offshore and CSDC join forces

Aqualis Offshore and China Ship Design and Research Center Co., Ltd (CSDC) have signed an agreement to cooperate on engineering projects both in China and internationally. ...

Sound Energy spuds first Tendrara well in Morocco

Sound Energy, the European/Mediterranean-focused upstream oil and gas company, has confirmed the commencement of drilling of the first well at Tendrara, onshore Morocco. ...

DeepOcean awarded EPRD contract on Varg field by Repsol

DeepOcean AS, a subsidiary of DeepOcean Group Holding BV, announced that the company has been awarded a contract for provision of engineering, procurement, removal and disposal (EPRD) of Varg Subsea facilities by Repsol Norge AS. ...

Wood Group secures five-year contract extension with Nexen in the North Sea

Wood Group has been awarded a five-year contract by Nexen, valued at $150 million. ...

Russia and Norway use Saudi oil strategy in Europe's gas market

Europe is awash with low-priced natural gas, thanks to Russia and Norway using a Saudi-like tactic to hold market share. ...

OPEC invite has Gabon mulling best response to oil nightmare

Gabon is considering a return to OPEC and trying to rally fellow African nations for a more coordinated response to slumping oil prices, President Ali Bongo Ondimba said. ...

Energy Fishing and Rental Services announces U.S. distribution agreement with Lee Energy Systems

Energy Fishing and Rental Services (EFRS) announced it has been named the exclusive U.S. distributor of Lee Energy Systems’ Gator Perforator and Speed Squeeze oilfield products. ...

Devon Energy sells non-core Mississippian assets for $200 million

Devon Energy Corp. has entered into a definitive agreement to sell its non-core Mississippian assets in northern Oklahoma to White Star Petroleum, LLC for $200 million. ...

DOF Subsea wins IMR subsea installation contracts

DOF Subsea, a subsidiary of DOF ASA, has been awarded several IMR and subsea installation contracts with a total contract value in excess of NOK 500 million. The contracts will secure utilization of the subsea project fleet in the regions. ...

Aibel wins contract for BPs Glen Lyon FPSO

Aibel has been awarded a contract for yardstay and assistance with the final preparations of the Glen Lyon FPSO. The vessel arrived in Haugesund, Norway, on Wednesday. ...

Crude rises to five-month high as U.S. output slips talks planned

Oil climbed to the highest level in almost five months after a government report showed U.S. crude production fell and Iraq said talks to freeze output will be revived. ...

Iraq says OPEC others to meet on output freeze possibly in May

Major OPEC and other crude producers will meet in Russia, possibly next month, in a new push to agree on an output freeze to shore up oil prices, Iraq’s Deputy Oil Minister Fayyad Al-Nima said. ...

WellDog awarded coal seam gas artificial lift contracts

WellDog announced today that it has inked exclusive, multi-year contracts worth about A$35 million through its Artificial Lift business unit based in Toowoomba, Queensland. ...

Expected decrease in Lower 48 oil production partially offset by rising GOM output: EIA

In response to continued low oil prices, onshore crude oil production in the Lower 48 states is expected to decline from an average of 7.41 MMbpd in 2015 to 6.46 MMbpd in 2016, and to 5.76 MMbpd in 2017. Increased production from the federal Gulf of Mexico (GOM) is not enough to offset those declines. ...

Kuwait oil workers end strike after three-day disruption

Kuwait oil workers ended a strike that disrupted output in OPEC’s fourth-largest producer for three days, after the government said it wouldn’t negotiate while the walkout lasted. ...

Otto Energy announces Gulf of Mexico discovery

Otto Energy Ltd has announced that it has been advised by Operator Byron Energy, that the SM-71 #1 well, located at the South Marsh Island Block 71, has completed drilling to the final target measured depth of 6,843 ft (2,086 m) or 6,477 ft (1,974 m) TVD. ...

Hydratight expands Antigo base to serve global customers

Joint integrity specialist Hydratight has started construction at its Antigo facility in Wisconsin to increase its manufacturing capabilities. ...

Aker Solutions wins engineering framework agreement from Lundin Norway

Aker Solutions secured a framework agreement from Lundin Norway to provide engineering services for offshore developments in Norway. ...

Cheniere's LNG set to reach Europe as U.S. shale gas goes global

Within a decade of revolutionizing domestic natural gas markets, U.S. shale will for the first time enter Europe, a region dominated by Russian and Norwegian supplies. ...

Kuwait oil output set to return to normal after strike ends

Kuwait’s oil production is set to return to normal in three days after thousands of striking workers returned to their jobs Wednesday. OPEC’s fourth-largest producer will boost output to an average of 3 MMbopd in three days, Kuwait Petroleum Corp. said Wednesday. ...

API calls EPA's latest methane inventory "seriously flawed"

EPA's greenhouse gas inventory is seriously flawed and inconsistent with previous EPA reports and other scientific research, Kyle Isakower, API V.P. of regulatory and economic policy, told reporters in a conference call. ...

Parnaiba seeks expansion amid downturn

Parnaiba Gas Natural SA, Brazil’s biggest independent natural gas producer, is considering acquisitions and preparing to expand output in Latin America’s biggest economy. ...

GEODynamics releases QuickStart Inject and Frac Valve

GEODynamics, Inc.’s Engineered Completion Solutions Division has completed extensive field testing of the QuickStart Inject and Frac Valve product line and is broadly releasing it to the global horizontal completion market immediately. ...

GeoTeric releases 2016 version of its software

GeoTeric has announced the release of GeoTeric 2016 incorporating faster performance, improved usability and new technology. ...

Russia may raise oil output exports after failure of Doha talks

Just two days after the collapse of international oil-supply talks in Doha, Russia signaled it isn’t afraid to play a game of chicken. ...

Exxon Mobil starts production at Julia field in deepwater Gulf of Mexico

Oil production has started under budget and ahead of schedule at Julia oil field in the Gulf of Mexico, Exxon Mobil Corporation said Tuesday. The first production well is now online and a second well will start production in the coming weeks. ...

Kuwait oil output rises to 1.5 MMbpd amid strike

Kuwait’s crude output climbed to 1.5 MMbpd as the state oil company brought more production back on line after halting some operations at the start of a labor strike now in its third day. ...

Trelleborg identifies sealing materials to extend seal life in high fire risk hydraulic applications

Due to the different chemical makeup of HFC and HLP fluids, sealing materials proven and traditionally used with HLP fluids, though effective in HFC applications, do not necessarily provide effective performance or length of life in HFCmedia. ...

Intertek launches high-accuracy onsite Coriolis meter calibration service

Intertek has launched an onsite Coriolis flow meter calibration service, delivering technical expertise and cost and efficiency savings to its oil and gas clients. ...

Statoil launches new subsea concept

Statoil has presented a new subsea concept, called Cap-X, that is designed to reduce cost and increase efficiency. ...

Cyberhawk UAV performs first commercial oil and gas inspection in Qatar

Cyberhawk Innovations, a leader in aerial inspection and survey using unmanned aerial vehicles, has completed the first ever commercial oil and gas inspection in Qatar. ...

Sinopec shifts global oil assets to state buyers amid downturn

One of China’s biggest oil and gas explorers found a buyer for its oil assets from Canada to Kurdistan amid a collapse in energy prices and a drive to reform state-run firms: another government-owned company. ...

Iraq says OPEC will pursue output-freeze talks at June meeting

The Organization of Petroleum Exporting Countries will resume talks at a meeting in June to reach an agreement on freezing oil output, Iraq’s governor to OPEC said just days after politics thwarted a deal to cap production and curb the global glut. ...

Saudi's other warning makes oil traders sweat after Doha failure

After his comments thwarted supply negotiations in Doha, oil traders are weighing another implied warning from the Saudi deputy crown prince: the threat of an intensifying clash with Iran over market share. ...

Keppel profit drops as oil slump delays offshore projects

Keppel Corp., the world’s largest builder of oil rigs, reported a 41% decline in first-quarter profit as weak oil prices led to delivery delays of offshore projects. ...

Kuwait oil-worker strike curbing crude output for second day

Kuwait was seeking to restore crude production as thousands of oil workers stayed off their jobs for a second day in a strike that’s slashed the OPEC member’s output by about 1.7 MMbopd, an amount exceeding the current global surplus. ...

What Doha couldn't do for oil market, Kuwait does by accident

After months of preparation, talks between producers in Doha failed to deliver anything to end the global oil glut. Yet, Kuwait has managed that by itself in just a few days. ...

Statoil reports positive production test at Gavea appraisal well, offshore Brazil

Repsol Sinopec, with partners Statoil and Petrobras, has completed the Gavea A1 well in the ultra-deep pre-salt Block BM-C-33 in the Campos basin, offshore Brazil. ...

Statoil, Kongsberg in collaboration to develop swimming robots for subsea maintenance

Kongsberg Maritime and Statoil have signed an agreement with Eelume, a NTNU spin-off company, to accelerate new technology that will significantly reduce costs related to subsea inspection, maintenance and repair operations. ...

Wood Group Kenny CEO joins Society of Underwater Technology council

Bob MacDonald, CEO of Wood Group Kenny (WGK), has been elected to the council of the Society of Underwater Technology (SUT). ...

Statoil collaborates to develop swimming robots for subsea maintenance

Kongsberg Maritime and Statoil have signed an agreement with Eelume, a NTNU spin-off company, to accelerate new technology that will significantly reduce costs related to subsea inspection, maintenance and repair operations. ...

Husky Energy starts production at Edam East thermal project

Husky Energy has started production at its Edam East Lloyd Thermal Project in Saskatchewan, the first of three thermal developments scheduled to come online this year. ...

Penn West closes sale of Slave Point, non-core assets

Penn West Petroleum has closed the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of approximately C$148 million, subject to closing adjustments. ...

Oil drops after output talks fail amid Saudi Demands over Iran

Oil fell after output talks Sunday between the world’s biggest producers ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices. ...

Grand oil bargain is victim of Saudi Arabia's Iran fixation

In the end, the outcome of Sunday’s summit of 16 oil ministers at Qatar’s Sheraton hotel turned on one country that wasn’t there. ...

Oil-freeze talks end in failure amid Saudi demands over Iran

Negotiations between 16 oil producers in Doha ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices. ...

Saudi prince says he could add a million barrels immediately

Saudi Arabia could raise crude production by more than a million barrels a day immediately, said the kingdom’s Deputy Crown Prince, as he reiterated the nation would only agree to freeze production if all major producers including Iran do the same. ...

DeepOcean Ghana wins three-year contract with Tullow

DeepOcean Ghana has been awarded a three-year contract with options for two additional years, to provide a light construction vessel to Tullow Ghana. ...

New drone technology will enhance energy infrastructure safety: API

The American Petroleum Institute has applauded the Senate passage of Federal Aviation Administration Reauthorization and, in particular, a provision in the legislation that would allow unmanned aircraft system utilization for oil and gas facilities, refineries, and pipeline inspection and response activities. ...

Goodrich Petroleum files for Chapter 11 for restructuring

Goodrich Petroleum Corp. filed for Chapter 11 in a U.S. bankruptcy court to implement a financial reorganization after struggling to restructure its debt amid declining energy prices. ...

PGS, EMGS settle patent disputes

Electromagnetic Geoservices (EMGS) and Petroleum Geo-Services (PGS) have entered into a Settlement Agreement to settle the two companies' patent disputes. ...

Petrobras, Aker Solutions signs subsea services contract

Aker Solutions has secured an agreement to provide maintenance and other services for subsea facilities at Petrobras-operated oil and gas fields offshore Brazil. ...

BIW Connector Systems introduces seven-contact wellhead outlet for downhole equipment

ITT Corporation’s BIW Connector Systems brand has launched a seven-contact wellhead outlet to connect safely and reliably to monitoring equipment in oil and gas production wells. ...

Schlumberger, Packers Plus enter into global alliance

Schlumberger and Packers Plus have entered into a global alliance, enabling the two oilfield service companies to become channel partners in key markets around the world. ...

Oil producers head for Doha counting $315 billion cost of slump

The world’s top oil exporters are burning through their petrodollar assets at an accelerating pace, increasing the pressure to reach a deal to freeze production to bolster prices. ...

Oil freeze: Everything you need to know about the Doha summit

Nations representing about half the world’s crude production will gather in Doha on April 17 to discuss freezing their output at January levels in an effort to stabilize prices. Russia, Saudi Arabia, Qatar and Venezuela already made a preliminary deal in February and are seeking to add more producers and extend the current price recovery. ...

BP investors reject CEO's 20% pay increase amid oil industry slump

BP Plc shareholders voted in protest at the company’s decision to award CEO Bob Dudley a 20% pay increase after the company reported a record net loss and announced thousands of job cuts following oil’s slump. ...

IPAA: Obama's offshore rule reduces safety, hurts energy production

The Obama Administration’s final offshore well control rule could reduce offshore worker safety and hurt future U.S. offshore energy development, according to Dan Naatz, senior V.P. of government relations and political affairs for the Independent Petroleum Association of America (IPAA). ...

Interior Department, BSEE release final well control regulations

Final well control regulations to reduce the risk of an offshore oil or gas blowout have been released by U.S. Secretary of the Interior Sally Jewell and Director of the Bureau of Safety and Environmental Enforcement Brian Salerno. ...

Interior releases final well control regulations

Final well control regulations to reduce the risk of an offshore oil or gas blowout have been released by U.S. Secretary of the Interior Sally Jewell and Director of the Bureau of Safety and Environmental Enforcement Brian Salerno. ...

EMGS to cut 15% of workforce in reorganization

Electromagnetic Geoservices (EMGS) is to make several changes to reduce the company's cost base and increase efficiency in line with the level of expected activity, the company said in a statement Thursday. ...

Qatar's oil-freeze letter to Norway reveals Doha deal logic

...

Capital investment in Canada's oil and gas industry down 62% in 2 years: CAPP

Capital spending in Canada’s oil and natural gas sector is forecast to decline $50 billion, or 62%, since 2014, the largest two-year decline since the Canadian Association of Petroleum Producers (CAPP) and its predecessor organizations started tracking this data in 1947. ...

Eni selects Landmark geosciences technology as its exploration standard

Eni has expanded the adoption of Halliburton Landmark’s DecisionSpace Geosciences across its exploration business units worldwide. ...

Iraqi crude output continues to grow, but at a slower pace from 2017: Rystad

...

Energy XXI files for bankruptcy after $5-billion expansion

Energy XXI Ltd., a U.S. oil and gas explorer, filed for bankruptcy protection after spending $5 billion on acquisitions in the years leading up to the crude slump. ...

Bibby Offshore wins first Norwegian contract

Bibby Offshore’s Norway division, Bibby Offshore AS, has secured its first contract in the region with ConocoPhillips Skandinavia. ...

Exxon says ‘$25 billion rule’ will sink deepwater drilling

The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. ...

IEA sees oil oversupply almost gone in second half on shale drop

Global oil markets will “move close to balance” in the second half of the year as lower prices take their toll on production outside OPEC, the International Energy Agency said. ...

Crude trades near $42 as U.S. output slips to lowest since 2014

Oil declines eased after a government report showed U.S. crude production fell to the lowest level since October 2014. ...

Weatherford RFID drilling tools save Sakhalin Island operator two days of rig time

In late February, Weatherford completed a drilling and reaming project near Sakhalin Island, Russia, that resulted in a total of 52 hours in rig time saved. ...

Statoil awards contracts for removal, disposal and recycling of Huldra platform

Hereema Marine Contractors Nederland SE will remove Statoil’s Huldra platform and transport it to shore, while AF Offshore Decom AS has been awarded the contract for disposal and recycling of the platform. ...

Statoil in oil discovery southwest of North Sea’s Oseberg South field

Statoil Petroleum, operator of production license 035/272, is in the process of completing the drilling of wildcat wells 30/11-11 S and 30/11-11 A. ...

Premier reports first oil from Solan field

Premier Oil achieved first oil from Solan field on Tuesday, the London-based company said. ...

Total, KOGAS extend cooperation on LNG

Total has signed a memorandum of understanding with Korea Gas Corporation (KOGAS) during the LNG 18 conference in Perth, Australia, to reinforce mutual cooperation to explore opportunities throughout the LNG value chain. ...

Wood Group Intetech launches enhanced corrosion software

Wood Group Intetech (WGI), an asset integrity specialist serving the global energy industry, is launching a new version of its ECE software in response to client demand. ...

Oil can top $50 with production freeze deal, Bank of America says

Oil prices can climb above $50/bbl if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp. ...

Schlumberger to pare Venezuela services on lack of payments

Schlumberger Ltd. will reduce activity in Venezuela after the world’s largest oil services provider failed to collect enough payments from the national oil company. ...

OPEC warns of deeper cuts to oil demand forecast on slowdown

OPEC said it may deepen cuts to its forecast for global oil demand growth due to slowing economic expansion in emerging markets, warmer weather and the removal of fuel subsidies. ...

DOF wins new contracts in North Sea

A DOF Group subsidiary has signed two separate contracts with operators in the North Sea. ...

Antelope adds to CentraMax series with Centralizer Subs

Antelope Oil Tool has developed the CentraMax RT1 (rotating), PI1 (push-in) and PT1 (pull-through) Centralizer Subs, adding to the CentraMax product line. ...

FracFocus celebrates fifth anniversary

Five years ago, the Ground Water Protection Council and Interstate Oil and Gas Compact Commission partnered with a vision to provide the public a one-stop site to access information on chemicals used in hydraulic fracturing operations by location. ...

Baker Hughes introduces model-based, predictive analytics software

Baker Hughes has announced the commercial release of its FieldPulse model-based, predictive analytics software, which enables operators to proactively optimize production across entire fields by giving them clear understanding of an asset’s performance in real time. ...

Oil producers risk severe impact on prices if freeze deal fails

The early success of an oil supply accord between OPEC and Russia in reviving crude prices is magnifying the potential costs of failure if producers meeting this weekend fail to complete their deal. ...

AccessESP names Algeroy as Europe and Africa Region Manager

AccessESP, a provider of rigless ESP conveyance solutions, has named John Algeroy as the Europe and Africa Region Manager. Based in Houston, he will be responsible for all marketing, sales and operations for clients throughout the region. ...

ConocoPhillips awards Archer five-year contract

ConocoPhillips has awarded Archer a five-year contract for the provision of mechanical wireline services for the Norwegian Continental Shelf. ...

Proserv seals Statoil contract for Gullfaks field

Proserv has been awarded a multi-million dollar contract with Statoil for the provision of production control equipment in Norway. ...

Kuwait Energy signs Export Oil Sales Agreement for Iraq’s Block 9

Kuwait Energy has signed an Export Oil Sales Agreement for Iraq’s Block 9. ...

Woodside, KOGAS extend LNG partnership

Woodside and Korea Gas Corporation (KOGAS) have signed a Memorandum of Understanding (MoU) for cooperation, extending the existing partnership between the companies. ...

Shell, Chevron await demand from LNG market in ‘pause mode’

The over-supplied LNG market is in hiatus as energy giants from Chevron Corp. to Royal Dutch Shell Plc and Woodside Petroleum Corp. await a surge of demand from countries seeking access to energy. ...

Woodside charters Australia's first LNG-powered support vessel

Woodside has signed a five-year charter contract with Norwegian company Siem Offshore Australia Pty Ltd—an agreement that delivers Australia its first LNG-powered marine support vessel in 2017. ...

Enerplus sells assets in northwest Alberta

Enerplus Corporation has entered into a definitive agreement to sell certain non-core assets located in northwest Alberta, including its Pouce Coupe asset. ...

Marathon Oil sells $950 million of non-core assets

Marathon Oil Corporation has signed agreements for the sale of certain non-core assets for $950 million, bringing the total to approximately $1.3 billion since last year. ...

Oil rises to four-month high as U.S. shale production slides

Oil climbed to a four-month high in London as forecasts for lower U.S. shale production signaled the global oversupply will slowly diminish. ...

Kuwait targets oil output at 43-year high as freeze talks loom

Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to the highest level in more than four decades. ...

Katalyst expands subsurface data management service

Katalyst Data Management is pleased to announce that they have expanded their subsurface data management service to include interpretation project data management for the oil and gas industry. ...

Gas Processors Association renamed GPA Midstream Association

Executive leadership of the Gas Processors Association (GPA) announced during the general session of its 95th annual convention that it has officially changed its name to GPA Midstream Association. ...

Borets introduces new permanent magnet motor

Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has introduced its newly developed 4.06-in. high speed, permanent magnet motor (PMM) to its comprehensive line of PMM technologies, targeting smaller casing size applications. ...

GE begins production of flexible risers for Shell's Prelude

GE Oil and Gas has started production of four HPHT dynamic flexible risers destined for the world’s largest floating liquefied natural gas (FLNG) facility, Prelude, to be operated by Shell, located 250 km off the coast of Western Australia. ...

Ashtead expands service offering through acquisition led growth

Buckthorn Partners and the Arab Petroleum Investments Corp. (APICORP) have acquired Ashtead Technology, an independent provider of subsea equipment and services to the offshore oil and gas industry. ...

Hydratight expands market coverage to MENAC

Joint integrity specialist Hydratight has expanded its market coverage after parent company Actuant Corp. completed a $60 million deal to acquire the Middle East, North Africa and Caspian (MENAC) division of privately owned Canadian firm FourQuest Energy. ...

LNG backers face comatose market as oil shows signs of life

As oil markets look for the green shoots of a price recovery, LNG participants are hunkering down for a long winter. ...

Rosneft surpasses Gazprom as Russia's most valuable company

Rosneft OJSC became Russia’s most valuable company as its market capitalization exceeded that of natural gas exporter Gazprom PJSC for the first time since its shares began trading in 2006. ...

Chesapeake pledges assets to preserve $4 billion bank line

Chesapeake Energy Corp., the shale gas producer that’s been selling fields and buying back debt to cope with plunging fuel prices, pledged additional assets as collateral to maintain access to a $4 billion line of credit. The shares jumped almost 7%. ...

Veolia awarded contract by Dolphin Energy for gas facilities in Qatar

Veolia, through its subsidiary Veolia Water Technologies, has been awarded a contract by Qatar Engineering and Construction Company to engineer, procure and deliver a wastewater treatment plant for Dolphin Energy's natural gas production and processing facilities in Ras Laffan, Qatar. ...

WPX Energy completes sale of Piceance subsidiary for $910 million

WPX Energy announced that it has completed the sale of its wholly owned subsidiary WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million, subject to closing adjustments. ...

LWP reports positive results from fly-ash test at Brisbane pilot plant

Oil and Gas technology company, LWP Technologies Limited, is pleased to report very positive results from the ongoing fly-ash test work being undertaken at the Company’s Brisbane-based pilot plant. ...

Reports of oil rally's death premature as inventories decline

NEW YORK (Bloomberg) -- Hedge funds betting that oil’s rally was over missed an 11% gain after U.S. crude inventories unexpectedly fell. ...

Hedge funds become U.S. gas bulls for first time since 2014

Hedge funds ended their record bearish streak on U.S. natural gas as an unusual spring cold snap stoked demand amid signs that output is slipping from an all-time high. ...

Oil rises most in two months on U.S. output drop, freeze talks

Oil climbed the most in almost two months as U.S. crude output continued to slide before a meeting between suppliers to discuss freezing production. ...

Gazprom Neft produces 100-millionth tonne of oil at Yuzhno-Priobskoye field in Russia

Gazpromneft-Khantos, a subsidiary of Gazprom Neft, has confirmed the production of the 100-millionth tonne of oil at its Yuzhno-Priobskoye field. ...

Oilex commences gas production at Bhandut field in India

Oilex Ltd has announced the commencement of gas production from Bhandut field, onshore Gujarat, India. ...

Tullow Oil faces delays at Jubilee field in Ghana

Tullow Oil issued the following operational update on Jubilee field in Ghana. ...

Nigeria may sell 40% of future state oil company within 10 years

Nigeria’s government may sell 40% of a new national oil company within 10 years of its creation, according to a draft law. ...

India becoming new center of oil demand growth

In the energy world, India is becoming the new China. ...

GE's oil business seen finding ‘missing piece’ with Baker Hughes

General Electric Co. could become one of the top players in the oil services and equipment industry if it decides to bid for Baker Hughes In ...

Oilex starts gas production from India’s Bhandut field

Oilex Ltd has commenced gas production from Bhandut field, onshore Gujarat, India. The Bhandut-3 well is currently flowing at the expected stabilized rate of 0.70 MMscfgd (120 boed) through an 8/64 in. choke, the company said. ...

Iran steps up offense in oil market war with price discount

Iran ratcheted up its offense in the oil market after breaking a pricing tradition, signaling it’s seeking to win market share at a time when rival producers are trying to forge a deal on freezing output. ...

Oil market ‘fooled’ by freeze talks seen better off gauging U.S.

Oil investors looking for signs of a sustained price recovery would do well to assess U.S. supplies rather than the banter between major producers on freezing output, according to Saxo Bank A/S. ...

Wood Group expands into process industry operations management systems with Ingenious acquisition

Wood Group has acquired Ingenious Inc., a supplier of proprietary software and consulting services to the oil and gas, chemical and energy industries, from its executive leadership team. ...

Oil and gas capital spending set for record drop in Canada

Canada’s oil and gas companies will slash investments by 35% in 2016, a record two-year decline that underscores a need for new pipelines, the industry’s main advocacy group says. ...

Drillers go rigless as price slump heralds austerity era

Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging. ...

NUTECH completes third phase of flow test at Horse Hill-1 discovery

NUTECH has announced that the third phase of the flow test for the major international oil discovery it identified in a report to UK Oil and Gas Investments (UKOG) has been completed. ...

Saudi Aramco share sale may raise $106 billion for wealth fund

Saudi Arabia’s sovereign wealth fund could receive $106 billion in cash from the sale of a 5% stake in oil giant Aramco’s parent company, according to the Sovereign Wealth Fund Institute. ...

Shell selects Materia’s thermal insulation system for Appomattox development

Materia, in conjunction with Aegion Corporation, has been selected by Shell Offshore, a wholly owned subsidiary of Royal Dutch Shell, to supply pipeline insulation materials for the Appomattox development in the deepwater Gulf of Mexico. ...

First reinjection well commissioned at Gazprom Neft’s Arctic field

Gazpromneft Shelf, a subsidiary of Gazprom Neft, has commissioned the first reinjection well at Prirazlomnoye field in the Barents Sea, on which it is leading development. ...

Collaboration is key for new wells decommissioning offering

Well management and performance improvement specialist Exceed has bolstered its decommissioning credentials through a strategic alliance with Weatherford. ...

MRC Global expands service to Chevron into the Gulf of Mexico

MRC Global (US) Inc., has been awarded a new maintenance, repair and operations (MRO) agreement to be a preferred supplier of pipe, valves and fittings (PVF) products and services to Chevron's operations in the Gulf of Mexico. ...

Cegal releases one dimensional stochastic inversion method

Cegal has announced the release of Blueback ODiSI—a one dimensional stochastic inversion method. The application produces high-quality images of reservoir property estimates and associated uncertainties. ...

Xodus wins framework agreement with National Grid Grain LNG

Xodus Group has been awarded a framework agreement for the provision of design and engineering technical services to the Grain LNG terminal, situated on the Isle of Grain, Kent, UK. ...

Keystone pipeline shuts and oversupplied U.S. market shrugs

This week’s shutdown of the Keystone oil pipeline has stopped up the route for roughly a quarter of the crude flowing into the U.S. Midwest. To which the oil market has essentially said: Eh. ...

Halliburton's executive pay shows forecasting oil price is hard

It seems not even the board of Halliburton Co. thought the price of oil would remain depressed this long. ...

Goldman says $35 oil is Goldilocks ideal for U.S. explorers

Oil at $35/bbl is neither too high nor too low but just right to make shares of U.S. explorers worth buying, according to Goldman Sachs Group Inc. ...

Oil surges as crude supply unexpectedly drops from 86-year high

Oil climbed after U.S. crude inventories unexpectedly dropped from the highest level in more than eight decades. ...

Halliburton, Baker Hughes to contest DOJ action to block acquisition

Halliburton and Baker Hughes today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. ...

Aminex reports first gas production from Kiliwani North in Tanzania

Aminex PLC, the Africa-focused oil and gas production and development company, has announced first gas production from its Kiliwani North gas field in Tanzania. ...

DOJ sues to stop Halliburton’s acquisition of Baker Hughes

The Department of Justice filed a civil antitrust lawsuit today seeking to block Halliburton’s proposed acquisition of Baker Hughes, alleging that the transaction threatens to eliminate competition, raise prices and reduce innovation in the oilfield services industry. ...

For Israel energy explorers, bad news may be good news

The latest bout of bad news for Israel’s natural gas extraction plans may turn out to be a boon for energy explorers. ...

China's shale gas reserves jump five-fold as output lags

China boosted its recoverable shale gas reserves more than five-fold last year as the country missed its production target for the fuel. ...

Study shows unmanned platforms may provide efficient development solutions

Rambøll Oil and Gas has submitted a study which sheds light on the advantages and disadvantages of unmanned wellhead platforms. ...

OMV successfully completes appraisal well in Barents Sea

OMV has successfully completed drilling and testing of the Wisting Central II appraisal well. ...

Freeport-McMoRan reveals new structure for oil and gas division

Freeport-McMoRan (FCX) has announced a new organizational structure for its subsidiary Freeport-McMoRan Oil and Gas (FM OandG). ...

API: Oil and natural gas exploratory drilling down in first quarter

Estimated natural gas well completions decreased 70% in the first quarter of 2016 compared to year-ago levels, according to API's 2016 Quarterly Well Completion Report, First Quarter. ...

Halliburton-Baker Hughes pain seen sparking other deals

If Halliburton Co.’s bid to buy Baker Hughes Inc. fails, it may spark a scramble for deals among beaten-down oil services firms. ...

Chevron halts production at $54-billion Gorgon LNG project

Chevron Corp. temporarily halted output at its $54-billion Gorgon LNG project in Australia due to mechanical problems just two weeks after making the first shipment to Japan. ...

Halliburton's dying bid shows antitrust cops pounding mega-deals

The corporate deal-making boom last year was one for the record books. The harder part: Winning the blessing of emboldened antitrust officials in the Obama administration’s last year. ...

Inpex sees $606 million in writedowns amid oil rout

Inpex Corp., Japan’s biggest oil and gas explorer, expects to book $606 million in impairment charges for the year just ended, following the collapse in oil and gas prices. ...

Norway to boost gas output as Russia, U.S. LNG supply increases

Norway will allow increased production from its biggest natural gas field as Europe’s second-largest supplier of the fuel prepares for increased competition with Russia and the U.S. ...

Sanjel sells pressure pumping assets to Liberty, STEP

Sanjel Corporation is selling two separate North American pressure pumping providers, the company said Monday. ...

Halliburton said to face U.S. lawsuit on Baker Hughes deal

WASHINGTON, D.C. (Bloomberg) -- U.S. antitrust officials have prepared a lawsuit to stop Halliburton Co. from taking over rival oil-services company Baker Hughes Inc., according to a person familiar with the matter. ...

Greene’s receives API Q2 certification for Louisiana operations center

Greene’s Energy Group, LLC, has received the American Petroleum Institute (API) Specification Q2 Certification—an advanced industry certification standard for service companies—for its flagship operations center in Lafayette, Louisiana. ...

Paradigm, Dassault Systèmes partner on predicting reservoir behavior

Paradigm has announced the availability of Reservoir Driven Production Risk Management (RD PRM), a combined software and services offering that integrates advanced rock, fluid and stress characterization to help users better understand how the reservoir changes with time. ...

Kinder Morgan awards IHI EandC contract for planned Georgia LNG export facility

Kinder Morgan and IHI EandC announced Tuesday that Kinder Morgan subsidiaries, Elba Liquefaction Company, L.L.C. and Southern LNG Company, L.L.C., awarded to IHI EandC a contract for the engineering, procurement, construction, commissioning and startup of Kinder Morgan's natural gas liquefaction project at Elba Island, near Savannah, Georgia. ...

Hoover Container Solutions announces changes to executive management team

Hoover Container Solutions has announced that Scott Meints has been appointed V.P. of service operations and Adolfo Aguilera is joining Hoover’s executive team as V.P. of manufacturing. ...

Producers can reach oil output freeze without Iran, Kuwait says

The Organization of Petroleum Exporting Countries and other major oil producing countries can reach an agreement for a production freeze, even if Iran doesn’t join the action meant to help shore up prices, according to Kuwait’s OPEC governor. ...

Canada's ever-shrinking oil industry braces for more job cuts

After almost two years of sinking oil prices and at least 40,000 job cuts, Canada’s petroleum industry still isn’t finished tackling its bloated operations. ...

Saudi Aramco reduces pricing for Arab Light crude to Asia buyers

Saudi Arabia, the world’s largest crude exporter, cut pricing for May sales of its Arab Light oil grade to Asia as producers get set to meet in Doha to discuss a proposed output freeze. ...

Tullow Oil awards North Sea decommissioning contract to Jee Ltd

Tullow Oil has awarded a contract to Jee Ltd, the subsea engineering and training firm, to investigate the most appropriate options for decommissioning their Thames area assets. ...

Wood Group boosts vibration, dynamics and noise engineering service with new acquisition

Wood Group has acquired SVT Engineering Consultants (SVT) based in Australia. This acquisition marks a significant step for Wood Group in providing a global vibration, dynamics and noise (VDN) engineering service line. ...

U.S.'s dim view of Halliburton, Baker Hughes deal revealed by ValueAct lawsuit

Halliburton Co.’s planned takeover of rival Baker Hughes Inc. threatens to undercut competition in the oil-services industry, the U.S. Justice Department said as it sued an activist hedge fund for buying stakes in both companies without properly notifying the government. ...

U.S. sues activist investment firm over Halliburton, Baker Hughes stakes

The Department of Justice (DOJ) has filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of California against certain ValueAct Capital entities for violating the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). ...

Oil falls to one-month low as Saudis link output freeze to Iran

Oil dropped to a one-month low after Saudi Arabia’s deputy crown prince said his country will freeze output only if Iran follows suit, putting in doubt the prospects of a proposed deal to freeze supply. ...

OneSubsea reports successful commission and startup of subsea boosting systems in the Gulf of Mexico

OneSubsea, a Schlumberger company, has announced the successful commission and startup of subsea boosting systems installed in ultra-deep waters, located in the Gulf of Mexico. ...

DNV GL wins Johan Sverdrup verification contract

Statoil has awarded contracts to DNV GL for verification of all four topsides, the three bridges, three of four jackets, topside installation by use of the Allseas single-lift vessel ‘Pioneering Spirit' and extended site assessment for the jackup. ...

BP to cut 500 jobs in Houston

BP is to layoff 500 workers in Houston as part of the company’s plans to scale back its upstream workforce. ...

Eni to see ‘negligible’ impact from halt of Italian oil field

The shutdown of Europe’s largest onshore oil field over alleged illicit waste disposal at a nearby treatment plant will probably only have a “negligible” effect on Eni SpA’s earnings because Italy often allows operations to resume during probes, said Giuseppe Rebuzzini, an analyst at Fidentiis Equities SV SA. ...

UK releases government-funded seismic data to industry

The UK’s Oil and Gas Authority has released almost 40,000 line km of new and legacy seismic data from the Rockall Trough and Mid-North Sea High areas acquired during last year’s government-funded seismic survey. ...

Aker Solutions' MMO unit to work with Kværner on Njord A upgrade

Aker Solutions' maintenance, modifications and operations (MMO) business in Norway will act as a subcontractor of Kværner to provide engineering services for upgrading the semisubmersible platform at the Statoil-operated Njord A oil field. ...

Bibby Offshore wins North Sea decommissioning contract

Bibby Offshore (BOUK) has secured a multi-million-dollar contract with a North Sea operator, to deliver decommissioning operations in the Northern North Sea East Shetland basin. ...

TAQA awards Wood Group North Sea contract extension

Wood Group has been awarded a two-year contract extending its service provision for TAQA in the North Sea. ...

Tullow extends halt at Jubilee, exports to resume April 9

Tullow Oil extended the suspension of oil and gas production at its flagship Jubilee field off Ghana and now expects exports to restart later this week. ...

Abu Dhabi's oil chief sees crude market balancing by end of 2017

Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co. ...

Russian oil output rises to record as freeze in doubt

Russia’s oil output set a post-Soviet high in March as the success of a proposed crude production freeze between OPEC members and other major producers appeared to be in doubt. ...

Murphy Oil cutting jobs in every location as downturn deepens

Murphy Oil Corp. is joining U.S. producers in cutting jobs at home and abroad as a prolonged collapse in crude prices crimps cash flows. ...

Pacific instructed to suspend operations at Quifa Block in Colombia

Pacific Exploration and Production Corp. has announced that the company was formally notified of the Colombian Constitutional Court's decision instructing the company to suspend operations within two km of the border of an indigenous community known as "Vencedor Piriri," encompassing a portion of Quifa Block. ...

India is first Asian importer of U.S. shale gas

Gail India Ltd. bought the second shipment of liquefied natural gas from Cheniere Energy Inc.’s Sabine Pass plant in Louisiana in a deal that makes it the first Asian importer of U.S. shale gas. ...

Rig rout continues as drillers pull ten more oil rigs

The number of active oil rigs continued to fall this week as U.S. drillers pulled ten more rigs from the field, according to the latest data from Baker Hughes. ...

Weak commodity environment to drive MandA increase, survey finds

Brunswick Group, an advisory firm specializing in critical issues and corporate relations, has released the results of its 2nd Annual U.S. Oil and Gas MandA Survey. ...

OFS Portal’s Eastern Hemisphere director set to retire

OFS Portal has announced the retirement of Dave Wallis after more than 15 years with the company. Wallis will stay on until April 30, 2016, as he transitions his duties over to Chris Welsh, OFS Portal CEO. ...

Gazprom, OMV to swap upstream assets

Russia’s Gazprom PJSC, seeking to defend its share in the European energy market, agreed to swap upstream assets with OMV AG, the Austrian oil and gas company trying to lower production costs amid a slump in oil prices. ...

Statoil kicks off construction of Johan Sverdrup living quarters platform

Apprentice Jens Erik Eriksen in Kværner and Norway’s Minister of Petroleum and Energy, Tord Lien, marked the start of construction on the Johan Sverdrup utility and living quarters platform on the island of Stord, north of Stavanger, yesterday. ...

DCS wins contract to provide painting, blasting services in Gulf of Mexico

Dynamic Energy Services’ specialty craft division, Dynamic Construction Services (DCS), has been awarded a contract to provide maintenance blasting and painting services for a major oil and gas operator’s offshore Gulf of Mexico assets. ...

Saudi Arabia plans $2 trillion megafund to dwarf all its rivals

Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets. ...

PGS, TGS, Schlumberger to shoot survey offshore Malaysia

As a result of a new initiative by Petronas to stimulate offshore EandP investment activity, Petronas, through Malaysia Petroleum Management (MPM), has taken the decision to open an area of Malaysian offshore waters to the MultiClient model for the first time. ...

BP taking a bet on China's shale gas while Shell backs out

BP is seeking to hit it big in China’s shale gas fields where competitors including Royal Dutch Shell have struck out. ...

Juniper subsea trees arrive in Trinidad and Tobago, BP says

PORT OF SPAIN, Trinidad and Tobago -- BP Trinidad and Tobago (BPTT) said Thursday that all five subsea trees required for the Juniper project have arrived in Trinidad and Tobago. ...

Saudi Arabia to sell stake in parent of state oil giant by 2018

Saudi Arabia plans to sell a stake “of less than 5%” in the parent of its state-owned oil company, the kingdom’s deputy crown prince said, revealing details of a listing that could make it the world’s biggest publicly traded firm. ...

Saudi Arabia will only freeze oil production if Iran joins plan

Saudi Arabia will only freeze its oil output if Iran and other major producers do so, the kingdom’s deputy crown prince said, challenging the country’s main regional rival to take an active role in stabilizing the over-supplied global crude market. ...