Márcio Zimmermann has resigned as a Petrobras board member, and has been replaced by newly-elected Luiz Navarro. More »
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Friday, 27 February 2015
Guardian's Select Fire Switch successfully deployed offshore Trinidad
Guardian Global Technologies announced the successful deployment of its Select Fire Switch technology offshore Trinidad. More »
YPF defies oil industry with same budget amid price slump
Argentina's YPF SA is defying the oil industry trend after crude prices collapsed by keeping last year’s capital budget intact without laying off workers. More »
U.S. oil drillers idle rigs for 12th week, Baker Hughes says
U.S. oil explorers idled rigs for the 12th straight week, extending the steepest drop-off in drilling on record as crude prices headed for a second week of losses. More »
Guardian's Select Fire Switch successfully deployed offshore Trinidad
Guardian Global Technologies announced the successful deployment of its Select Fire Switch technology offshore Trinidad. More »
Oil sails from Russia to Asia faster on smaller ships
With supertankers booked solid carrying cheap crude, smaller vessels are taking advantage of the opportunity by hauling record volumes of Russian oil to Asia. More »
Transocean reports loss of $739 million, debt downgraded to junk
Leading offshore drilling contractor Transocean has reported a net loss of $739 million, or $2.04 per diluted share. To add to the contractor's troubles, Moody’s downgraded Transocean debt to junk after the company booked over $1 billion in write offs. More »
Gazprom Neft drilling unconventional targets in Bazhenov formation
Gazprom Neft has completed testing of four directional wells to investigate reserves within the Bazhenov formation within the southern area of Priobskoye field. More »
Obama could end crude export ban by executive order, Hamm says
U.S. President Barack Obama could authorize crude oil exports with an executive order, according to Harold Hamm, founder and CEO of Continental Resources Inc. More »
BP, Helix agree to amend multi-year Q5000 contract
Helix Energy Solutions Group has entered into an agreement with BP Exploration and Production to amend their existing 2013 agreement for the Q5000 to provide well intervention services in the U.S. Gulf of Mexico to defer the commencement of the work, previously scheduled to begin in the third quarter of 2015, to April 1, 2016. More »
Total appointed operator of PRL 15 JV, InterOil says
InterOil Corporation has announced that all participants in the PRL 15 Joint Venture have unanimously voted to appoint Total EandP PNG Limited as the operator. More »
Oil and Gas UK names new CEO
The Board of Oil and Gas UK has announced the appointment of Deirdre Michie as the organization’s new chief executive. More »
Gazprom Neft completes first-stage geological prospecting of unconventional reserves at South Priobskoye field
Gazprom Neft has completed testing of four directional wells (drilled to investigate reserves within the Bazhenov formation) at its concession within the southern area of Priobskoye field. More »
Petronas turns to $2.7 billion fourth-quarter loss on oil slump
KUALA LUMPUR (Bloomberg) -- Petroliam Nasional, the Malaysian state oil company preparing for a leadership transition in April, reported a loss in the fourth quarter following crude’s plunge. More »
Statoil submits development plan for Peregrino Phase II project
Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem, has submitted the Plan of Development (PoD) to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro on Jan. 30. More »
IEA echoes Saudi view on oil-demand boost balancing market
The oil market will rebalance in the next several months as a price collapse boosts consumption and curbs supplies, the International Energy Agency said, a day after Saudi Arabia’s oil minister told reporters demand is rising. More »
Oil bargains for asia stretch to Mexico as ships set sail
Ships carrying oil from Mexico are sailing to South Korea for the first time in more than two decades as the U.S. shale boom brings bargains from around the globe. More »
Thursday, 26 February 2015
INTECSEA awarded contract for Buckskin-Moccasin development
INTECSEA has been selected by Chevron to provide engineering and long-lead procurement services for the front-end engineering and design (FEED) phase of the Buckskin/Moccasin development in the Gulf of Mexico. More »
Becht Engineering Co. acquires The CECON Group
Becht Engineering Co., Inc., has acquired Wilmington, Delaware-based The CECON Group, Inc. Terms of the transaction were not announced. More »
German beer brewers win hydraulic fracturing protection for water wells
German brewers have won the backing of Chancellor Angela Merkel’s government to protect the springs they use from hydraulic fracturing, which they say could taint the purity of their beer. More »
Alberta energy drillers pivot to natural gas as oil plunges
Alberta’s energy producers are pivoting toward developing gas reserves rather than oil after crude lost half its value last year. More »
Bear Head LNG files application with DOE to export gas to Canada
Bear Head LNG Corp. and Bear Head LNG (USA), LLC, both wholly owned subsidiaries of Liquefied Natural Gas Limited (LNGL), have filed an application with the U.S. Department of Energy (DOE) requesting authorization to export up to 440 Bcf per year of U.S. natural gas to Canada, and up to 8 mtpa of LNG from Canada to Free Trade Agreement (FTA) and Non-FTA nations. More »
Bear Head LNG files application with DOE to export gas to Canada
Bear Head LNG Corp. and Bear Head LNG (USA), LLC, both wholly owned subsidiaries of Liquefied Natural Gas Limited (LNGL), have filed an application with the U.S. Department of Energy (DOE) requesting authorization to export up to 440 Bcf per year of U.S. natural gas to Canada, and up to 8 mtpa of LNG from Canada to Free Trade Agreement (FTA) and Non-FTA nations. More »
Statoil awards Mariner supply base, warehousing contracts to Asco
Statoil (UK) Limited has awarded the contracts for supply base and warehousing services for Mariner field to Asco UK Limited. More »
Seadrill profit declines 32% as crude slump forces rig delays
Seadrill, the offshore driller controlled by billionaire John Fredriksen, said fourth-quarter profit fell by a third as low oil prices weaken demand for rigs, forcing it to delay the delivery of new units and consider lowering rates on existing contracts. More »
American Impact Energy acquires Permian basin acreage
American Impact Energy has acquired over 18,000 prime leasehold acres in the Permian basin. More »
SD Mines raises $1.4 million for Energy Resources Initiative
The South Dakota School of Mines and Technology has announced that $1.4 million has been raised for its new Energy Resources Initiative, and the search will begin for a Director. More »
SD Mines raises $1.4 million for Energy Resources Initiative
The South Dakota School of Mines and Technology has announced that $1.4 million has been raised for its new Energy Resources Initiative, and the search will begin for a Director. More »
CGG to cut about 400 jobs after reporting $1.2 billion net loss
CGG, the oil field seismic surveyor that rejected a takeover approach last year by Technip, reported a net loss of $1.2 billion in 2014 after a writedown for restructuring costs and an impairment on marine assets. More »
Seadrill profit declines 32% as crude slump forces ig delays
Seadrill, the offshore driller controlled by billionaire John Fredriksen, said fourth-quarter profit fell by a third as low oil prices weaken demand for rigs, forcing it to delay the delivery of new units and consider lowering rates on existing contracts. More »
American Impact Energy acquires Permian basin acreage in Texas
American Impact Energy has acquired over 18,000 prime leasehold acres in the Permian basin. More »
SD Mines raises $1.4 million for Energy Resources Initiative; seeks Director
The South Dakota School of Mines and Technology has announced that $1.4 million has been raised for its new Energy Resources Initiative, and the search will begin for a Director. More »
Alliance Sensors Group introduces SS-7 Series LVIT inductive linear sensors
Alliance Sensors Group has introduced the SS-7 series LVIT (Linear Variable Inductive Transducer) designed for subsea environments and the demands of oil and gas exploration. More »
AnTech establishes its presence in Saudi Arabia
AnTech Ltd, Directional Coiled Tubing Drilling (DCTD) provider, has officially launched its Saudi Arabian presence at its new premises in Al-Khobar. More »
Wood Group Mustang appoints new CEO
Wood Group has appointed Michele McNichol to the position of CEO for Wood Group Mustang (WG Mustang), effective immediately. More »
Wednesday, 25 February 2015
New packer technology for fast, but controlled swell rates
TAM International has introduced a new swellable packer technology that alters the geometric design of the elastomer to provide ultra-fast, but predictable and controlled swell rates. More »
Tissue paper-for-Venezuelan oil swap offered by Trinidad
Venezuela, plagued with shortages of basic goods, was offered a reprieve by the Prime Minister of neighboring Trinidad and Tobago: exchange oil for tissue paper. More »
Nexen implements Petrotechnics’ Proscient platform on UKCS operations
Petrotechnics has completed the implementation of its Proscient software platform on two UK offshore assets operated by Nexen Petroleum UK Ltd., a wholly owned subsidiary of CNOOC Limited. More »
Wood Group PSN appoints new CEO
Dave Stewart has been appointed CEO of Wood Group PSN. Effective April 2015, Stewart will move into this role from his previous position as UK managing director of WGPSN’s UK operations. More »
Nexen implements Petrotechnics’ Proscient platform on UKCS operationsx
Petrotechnics has completed the implementation of its Proscient software platform on two UK offshore assets operated by Nexen Petroleum UK Ltd., a wholly owned subsidiary of CNOOC Limited. More »
Cameron LNG applies for approval of liquefaction facilities expansion
Cameron LNG has initiated the pre-filing review with the Federal Energy Regulatory Commission for the planned expansion of the company's existing three-train liquefaction export project in Hackberry, Louisiana. More »
Oil sands cash flows to fall by $23 billion, Wood Mackenzie says
The operational cost of extracting bitumen from Canada's oil sands tops out at $37/bbl for in-situ projects and $40/bbl for mining projects according to Wood Mackenzie's latest analysis. More »
Det Norske reviews funding as oil drops
Det Norske Oljeselskap, the oil producer controlled by billionaire Kjell Inge Roekke, is reviewing its funding options and cutting costs as a plunge in crude prices caps the cash flow it needs for new projects. More »
Report paints bleak picture of UK offshore industry
Oil and Gas UK’s new report on offshore exploration, investment and production published on Feb. 24 provides striking evidence of how rising costs, taxes and inadequate regulation have taken their toll on the UK industry’s international competitiveness. More »
Zenith Energy spuds UK's first conventional onshore exploration well of 2015
Zenith Energy, which was established in 2012, has initiated drilling operations of the Europa Oil and Gas operated Kiln Lane well, which is located in northeast Lincolnshire on license PEDL 181. More »
McDermott and Petrofac form strategic alliance to pursue SURF projects
McDermott International and Petrofac have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (SURF) projects. More »
Oil demand seen rising by Saudi Arabia’s Naimi as market ‘Calm’
DUBAI (Bloomberg) -- Oil demand is growing and the market has turned “calm,” Saudi Arabia’s Oil Minister Ali Al Naimi said. More »
Report paints bleak picture of high-potential industry but the solution is clear: Oil and Gas UK
Oil and Gas UK’s new report on offshore exploration, investment and production published on Feb. 24 provides striking evidence of how rising costs, taxes and inadequate regulation have taken their toll on the UK industry’s international competitiveness. More »
Express Energy names industry veteran Mark Reese as Chairman
Express Energy Services has appointed the oil and gas industry veteran Mark Reese, a former National Oilwell Varco executive, as Chairman of the Board of Directors of ES Platform Holdings, Inc., the parent company of Express. More »
Zenith Energy commences drilling at Kiln Lane well in UK
Zenith Energy, which was established in 2012, has initiated drilling operations of the Europa Oil and Gas operated Kiln Lane well, which is located in northeast Lincolnshire on license PEDL 181. More »
Elsevier launches Geofacets Mexico, providing competitive edge to Mexico’s oil and gas block bidders
Elsevier has launched the Geofacets Mexico, a special edition of Geofacets, designed to give oil and gas companies a competitive advantage in completing Mexico’s oil and gas block bidding. More »
Schneider Electric bags contract for Kaombo FPSO project in Angola
Schneider Electric has been awarded by SAIPEM a contract to design, fabricate and pre-commission two fully-integrated technical buildings (also called E-House modules) to support the deep offshore Kaombo FPSO project in Angola, operated by Total EandP Angola with a 30% share on Block 32. More »
U.K. North Sea oil’s 1,500 job cuts this year is tip of Iceberg
The world’s biggest oil and gas producers, already cutting hundreds of jobs a week from the U.K.’s North Sea, are just warming up. More »
Obama vetoes Republican attempt to force Keystone approval
President Barack Obama issued his third veto Tuesday to reject legislation that would allow construction of the Keystone XL pipeline, escalating a battle over the project with Republicans in Congress. More »
Tuesday, 24 February 2015
Russian demand for more cash re-ignites Ukraine gas dispute
Russia demanded Ukraine pay for natural gas shipped directly to rebel-held areas of the country, re-igniting a long-running dispute over energy supplies. More »
Shell planning to decommission Brent Delta platform
A thirty-day public consultation on plans to commence decommissioning of the Brent oil and gas field in the North Sea is underway. More »
Obama set to veto Republican bid to force Keystone approval
U.S. President Barack Obama Tuesday will veto legislation that would clear the way for the Keystone XL pipeline, his spokesman said, while not ruling out eventual White House approval of the project. More »
Small LNG is in as oil price collapse crimps megaproject spending
Slumping energy prices are crimping the ability of suppliers to finance new export terminals, giving small, highly-focused efforts the edge over the megaprojects the industry has favored for years. More »
Obama limits on Alaskan oil threaten pipeline flow, Murkowski says
Alaska Republican Senator Lisa Murkowski said the Obama administration’s restrictions on oil production in her state threatens to dry up supplies that could flow through the trans-Alaska pipeline. More »
Egypt to get first LNG cargo in March amid plans to sell gas
Egypt, with Africa’s third-largest reserves of natural gas, plans to receive its first cargo of foreign liquefied fuel next month, a government official said. More »
Oil-price rebound to $100 seen as unlikely by BlackRock CEO
Oil prices are unlikely to go back to $100/bbl because new technology is driving down the cost of production, said Larry Fink, CEO and co-founder of BlackRock Inc. More »
Inpex bags exploration blocks offshore Western Australia
INPEX's subsidary, INPEX Browse has been awarded exploration permits for release areas WA-513-P and WA-514-P. More »
Lundin to farm-out 30% stake in Gemini prospect offshore Norway
Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has signed a farm-out agreement with Lime Petroleum Norway, whereby Lime Petroleum will acquire a 30% working interest in PL338C. More »
Lime Petroleum acquires additional stake in Norwegian Sea licenses from Tullow
Lime Petroleum Norway has entered into an agreement with Tullow Oil Norge to acquire an additional 20% stake in licenses PL591, PL591B and PL591C in the Norwegian Sea. More »
Senex Energy hits oil at Martlet North-1 well in Cooper basin
Senex Energy a Namur oil discovery at Martlet North-1 under PL 1481 on the western flank of the South Australian Cooper basin. More »
Statoil awards Johan Sverdrup EPC contract to Aibel
Statoil, on behalf of the Johan Sverdrup partnership, is to sign a contract with Aibel for the construction of the deck for the drilling platform on the field. More »
Technip bags contract for Total's Glenlivet project
Building on the previous award by Total EandP UK of the contract for the Edradour Subsea Development, located approximately 75 km northwest of the UK's Shetland Islands, Technip has been awarded an additional scope for the parallel development of the nearby Glenlivet field. More »
Lime Petroleum acquires Tullow Oil's 20% stake in licenses in the Norwegian Sea
Lime Petroleum Norway has entered into an agreement with Tullow Oil Norge to acquire an additional 20% stake in licenses PL591, PL591B and PL591C in the Norwegian Sea. More »
INPEX bags two exploration blocks offshore Western Australia
INPEX's subsidary, INPEX Browse has been awarded exploration permits for release areas WA-513-P and WA-514-P. More »
Lundin to farm-out of the Gemini prospect offshore Norway
Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has signed a farm-out agreement with Lime Petroleum Norway, whereby Lime Petroleum will acquire a 30% working interest in PL338C. More »
Statoil awards $1.05 billion worth Johan Sverdrup EPC contract to Aibel
Statoil, on behalf of the Johan Sverdrup partnership, will sign a contract with Aibel for the construction of the deck for the drilling platform on the field. The contract is worth in excess of $1.05 billion (NOK 8 billion). More »
Technip bags subsea contract for the Glenlivet project in UK
Building on the previous award by Total EandP UK of the contract for the Edradour Subsea Development, located approximately 75 km northwest of Shetlands in the UK waters, Technip has been awarded an additional scope for the parallel development of the Glenlivet field located nearby. More »
Exxon Mobil reserves replacement totals 104% in 2014
Exxon Mobil Corp. has announced that it replaced 104% of its 2014 production by adding proved oil and gas reserves totaling 1.5 Bboe, including a 162% replacement ratio for crude oil and other liquids. More »
Coastal Group secures $54 million OSV contract
SANDAKAN, Malaysia -- Coastal Contracts has announced that its wholly-owned subsidiary, Coastal Offshore (Labuan) has secured contracts for the sales of two units Offshore Support Vessels (OSV) for an aggregate value of approximately $54.33 million (RM197 million). More »
Oil trades near 2-week low as U.S. supply seen rising from record
Oil traded near its lowest closing level in almost two weeks before U.S. government data forecast to show crude inventories expanded from a record high. More »
AGR's iQx software bags contract from LUKOIL Overseas in NCS
AGR has won a further contract award for its well intelligence software solution, iQx, with LUKOIL Overseas North Shelf AS. The contract value is $130,000 (1 million NOK). More »
OSRL launches new DECC 1 On-Scene Commander e-learning course for OIMs
Oil Spill Response Limited (OSRL) has launched a new improved Department of Energy and Climate Change (DECC) 1 On-Scene Commander (Offshore Installation Manager) e-learning course. More »
Great Plains Well Logging selects Paradigm Geolog as its petrophysical software platform
Great Plains Well Logging, Inc. has selected the Paradigm Geolog formation evaluation software suite as its corporate standard for petrophysical analysis, replacing a competitive software package. More »
AGSL bags contract by oil and gas supermajor in Australia
Asset Guardian Solutions Ltd. (AGSL), which specialises in protecting companies’ process critical software assets, has secured a deal with an oil and gas supermajor in Perth, Western Australia. More »
ExxonMobil 2014 reserves replacement totals 104%
Exxon Mobil Corporation has announced that it replaced 104% of its 2014 production by adding proved oil and gas reserves totaling 1.5 Bboe, including a 162% replacement ratio for crude oil and other liquids. More »
Coastal Group secures $54 million worth OSV contract
SANDAKAN, Malaysia -- Coastal Contracts has announced that its wholly-owned subsidiary, Coastal Offshore (Labuan) has secured contracts for the sales of two units Offshore Support Vessels (OSV) for an aggregate value of approximately $54.33 million (RM197 million). More »
Tenaris to suspend operations at Texas tubes plant
Houston -- Tenaris will temporarily suspend operations at its welded tubes mill in Conroe, TX, resulting in the layoff of approximately 230 employees, effective April 24, 2015. More »
OPEC said not to plan emergency meeting amid falling oil prices
The Organization of Petroleum Exporting Countries has no plans to hold an emergency meeting amid falling oil prices, according to a delegate from the group. More »
Monday, 23 February 2015
Shell withdraws Pierre River oil sands regulatory application
CALGARY (Bloomberg) -- Royal Dutch Shell Plc has withdrawn an application to develop an oil-sands bitumen mine in northern Alberta to focus on existing projects. More »
Standard Chartered looks for rebound in oil on stronger demand
Oil’s gains will accelerate in the second half of this year with prices averaging $85/bbl for Brent crude in 2015, Standard Chartered Plc forecast. More »
Industry-critical mattress decommissioning research commences
Decom North Sea (DNS), the representative body for the decommissioning industry, commissions and facilitates projects that deliver meaningful benefits for its members and improves the efficiency of future of decommissioning activities. More »
JIP aims to improve performance, reliability of sour service pipelines
Sour service fluids from wells place significant demands on pipeline material, particularly in deeper water. More »
New insight into oil flow could pave the way for improved recovery
The amount of oil recoverable from reservoirs in deep rock formations could be improved, following a new discovery by scientists at the University of Edinburgh and Heriot-Watt. More »
Oman producing all-out on oil as global price rout seen over
MUSCAT, Oman (Bloomberg) -- Oman, the biggest Middle Eastern oil producer that’s not a member of OPEC, is boosting crude output to as much as possible with the global price rout over, Salim Al Aufi, undersecretary of the oil and gas ministry, said. More »
Talisman Energy to drill in Snomus Prospect in Central North Sea
Talisman Energy has received consent from the Petroleum Safety Authority Norway for exploration drilling of well 15/12-24. More »
Freeport-McMoRan reports successful production test on Highlander well
Freeport-McMoRan Inc. has announced the results of additional production testing on Freeport-McMoRan Oil and Gas’s (FM OandG) Highlander discovery, located onshore in South Louisiana in the Inboard Lower Tertiary/Cretaceous trend. More »
Statoil brings Oseberg Delta 2 on stream
On Feb. 21, Statoil and its partners started up production from Oseberg Delta 2 in the North Sea. The field’s recoverable reserves are estimated at 77 MMboe. More »
Atlantic Petroleum announces farm-down option deal with Statoil on Norway PL704, PL705 and PL802
Atlantic Petroleum has announced that the company has entered into a farm-down option deal with Statoil Petroleum related to the PL704, PL705 and PL802 licenses in the Vøring basin. More »
Atlantic Petroleum inks farm-down agreement with Statoil on PL602
Atlantic Petroleum has announced that the company has entered into a commercial farm-down agreement with Statoil Petroleum related to the PL602 license. More »
Atlantic Petroleum to drill a well on Norway PL602
Atlantic Petroleum has announced that the PL602 partnership has decided to drill a well to test the Roald Rygg Prospect in PL602. The well is planned to be drilled in 2015. More »
Oil holds weekly loss near $60 as Libyan restart adds to surplus
Oil traded near $60/bbl in London after the first weekly decline in a month as Libya restarted a crude pipeline after a fire and Oman said it will increase production by as much as possible. More »
Arctic energy is critical to U.S. economy and national security: API
The Arctic is an essential piece of our energy equation and vital to keeping America’s status as a world leader in energy, so API is carefully reviewing proposed Arctic offshore regulations released on Feb. 20, said API Director of Upstream Erik Milito. More »
Magnum Hunter completes testing of WVDNR Pad wells in West Virginia; initiates production
Magnum Hunter has announced that the company's four new completely owned WVDNR Pad wells (#1410, #1411, #1412 and #1413), located in Wetzel County, West Virginia have been recently placed on production after several weeks of testing. More »
Freeport-McMoRan announces 75MMcfd successful production test on FM OandG Highlander well
Freeport-McMoRan Inc. has announced the results of additional production testing on Freeport-McMoRan Oil and Gas’s (FM OandG) Highlander discovery, located onshore in South Louisiana in the Inboard Lower Tertiary/Cretaceous trend. More »
Freeport-McMoRan announces 75MMcfd successful production test prior to placing highlander well on production
Freeport-McMoRan Inc. announced the results of additional production testing on Freeport-McMoRan Oil and Gas’s (FM OandG) Highlander discovery, located onshore in South Louisiana in the Inboard Lower Tertiary/Cretaceous trend. More »
Custom-built carrier arrives in Port Moresby for first PNG LNG cargo
The Papua, the first PNG LNG Project custom-built ship, arrived at the PNG LNG marine facilities on Sunday to begin cool down and loading of its first LNG cargo. More »
Sunday, 22 February 2015
India probe into theft of files widens to more oil companies
Indian police said a dozen people have been arrested as they probe more oil company employees in a case involving the alleged sale of stolen government files. More »
Oman calling for maximum oil production, saying "oil price rout over"
Oman, the biggest Middle Eastern oil producer that’s not a member of OPEC, is boosting crude output to as much as possible with the global price rout over, Salim Al Aufi, undersecretary of the oil and gas ministry, said. More »
Saturday, 21 February 2015
Schlumberger’s $1.7 billion Eurasia Drilling deal delayed
Schlumberger’s $1.7-billion deal to buy a stake in Eurasia Drilling Company—Russia’s largest driller—has been delayed pending approval from Russian regulators. More »
Friday, 20 February 2015
Chevron dry holes rate almost doubles amid shift to Americas
SAN RAMON, Calif. (Bloomberg) -- Chevron Corp.’s exploration failure rate almost doubled last year as the second-largest U.S. energy producer shifted more drilling efforts to American fields from other parts of the world. More »
BSEE, BOEM issue proposed regulations for drilling offshore Alaska
The Bureau of Safety and Environmental Enforcement and the Bureau of Ocean Energy Management released proposed regulations for future exploratory drilling on the U.S. Arctic Outer Continental Shelf on Friday. More »
Oil drillers extend record retreat, idling rigs for 11th week
U.S. oil explorers idled rigs for the 11th straight week, extending an unprecedented retreat in drilling as oil prices headed for the first decline in a month. More »
Canadian oil sands output growth defies price plunge
The deluge of Canadian oil that’s adding to a global glut and driving prices lower is showing few signs of slowing. More »
ATCO wins more work for Chevron’s Wheatstone Project
ATCO Structures and Logistics Pty. Ltd has been awarded additional scope to design, manufacture and install 435 modular units under its current agreement with Bechtel on the Chevron-operated Wheatstone Project in Western Australia. More »
OEG buys West Australian oilfield services providers
Two West Australian-based oilfield services providers have been purchased by global offshore equipment firm OEG Offshore. More »
Pemex, Sempra ink MOU for Mexico liquefaction project
Sempra Energy announced Thursday that its IEnova and Sempra LNG units have signed a Memorandum of Understanding with a subsidiary of Pemex for cooperation and coordination in developing a natural gas liquefaction project at the site of the Energía Costa Azul receipt terminal in Ensenada, Mexico. More »
Oceaneering names Larson as President, COO
Oceaneering International has appointed Roderick A. Larson, 48, as President and COO. More »
Norway’s PSA investigates man-overboard incident on Scarabeo 8
Norway’s Petroleum Safety Authority (PSA) is to investigate an incident where a person fell overboard from Scarabeo 8, on Goliat field in the Barents Sea, on Feb. 20. More »
Gazprom Neft makes first winter shipment of oil from Yamal
Gazprom Neft has made its first ever winter shipment of oil from the Novy Port (Novoportovskoye) field on the Yamal Peninsula. More »
Alberta fracing quake fears prompt tougher rules for shale area
Shale producers in Alberta’s Duvernay region are being asked to monitor and prevent earthquakes after regulators linked a series of seismic events over the last two months to hydraulic fracturing. More »
BP, Maersk Training enter five-year training contract
BP has announced a five-year contract for Maersk Training to handle a significant part of BP’s offshore rig crew training. More »
Oil heads for weekly decline amid record U.S. crude stockpiles
Oil headed for its first weekly decline in a month as U.S. crude stockpiles expanded to a record, adding to a global glut that drove prices lower. More »
Chariot Oil and Gas commences 2D seismic survey off Namibia
Chariot Oil and Gas has commenced a 2D seismic acquisition survey of approximately 1,700 km in the Central Blocks 2312 and 2412A offshore Namibia. More »
Slump in January 2015 production figures: NPD
The Norwegian Petroleum Directorate (NPD) has announced preliminary production figures for January 2015 indicating an average daily production of about 1,931,000 bopd, NGL and condensate. More »
Alberta fracking quake fears prompt tougher rules for shale area
Shale producers in Alberta’s Duvernay region are being asked to monitor and prevent earthquakes after regulators linked a series of seismic events over the last two months to hydraulic fracturing. More »
BP and Maersk Training enter five-year training contract
BP has announced a five-year contract for Maersk Training to handle a significant part of BP’s offshore rig crew training. More »
Statoil, Aker choose Holmatro cylinders for the Snorre A platform
At the start of this year, Holmatro and its Norwegian dealer EIVA-SAFEX jointly supplied 64 cylinders, each with a capacity of 536 tons, to the Statoil operated tension-leg platform (TLP) Snorre A. More »
Canada to reduce taxes for LNG plants
Canada is cutting taxes on LNG projects in an effort to spur the industry. More »
Thursday, 19 February 2015
Police trap in India snares five for selling oil ministry papers
NEW DELHI (Bloomberg) -- Police in India’s capital arrested five people for the alleged sale of stolen Oil Ministry documents to energy and consulting companies, in a night-time sting operation targeting crime close to the heart of government. More »
Sempra joins Pemex plan for first gas export terminal in Mexico
MEXICO CITY (Bloomberg) -- Sempra Energy agreed to join state-run Petroleos Mexicanos’s plan to build the first export facility for liquefied natural gas in Mexico at an under-utilized import terminal on the Pacific Coast. More »
Goldman Sachs sticks to call for $39 oil as rally to reverse
The rally in oil will dissipate and prices will decline to $39/bbl in New York, Goldman Sachs Group Inc. said, maintaining an earlier forecast. More »
US land rig count to bottom in late summer: Wood Mackenzie
Houston -- Wood Mackenzie expects a continued decline in rig utilization through Q1 and Q2 of 2015, with a levelling off by August at approximately 1,000 units. January alone saw a decline in count by nearly 200 rigs to 1,616, down from a peak of 1,859 in November 2014. The pace of land rigs being idled continues to accelerate, with the first two weeks in February seeing a further 200 rigs coming off contract. More »
Saudi Arabia oil output rising amid battle for market share
Saudi Arabia is boosting oil production, pursuing its policy to maintain market share as prices fall. More »
Noble Energy slashes spending by 40%
Noble Energy has announced its 2015 guidance, which includes anticipated capital investments of $2.9 billion and total sales volumes of between 295,000 and 315,000 boed. More »
ProSep launches JIP with Qatar Petroleum, Petroleum Development Oman
ProSep has launched an Industry Technology Facilitator (ITF) joint industry project (JIP) with Qatar Petroleum and Petroleum Development Oman. More »
Norway’s PSA to investigate leak at Statoil's Gudrun
Norway’s Petroleum Safety Authority has decided to initiate an investigation following a hydrocarbon leak on Gudrun field in the North Sea. More »
Murkowski, Heitkamp lead coalition urging oil exports to Mexico
U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada. More »
Talisman shareholders approve $8.3 billion acquisition by Repsol
Talisman Energy has announced that the holders of its common shares and preferred shares have approved the proposed arrangement under which Repsol, through a wholly owned subsidiary, is to acquire all of the outstanding shares of Talisman. More »
Statoil to drill wildcat well in PL128 in Norwegian Sea
The Norwegian Petroleum Directorate has granted Statoil Petroleum a drilling permit for wildcat well 6706/12-2 in PL128. More »
Talisman Energy approves acquisition to Repsol for $8.3 billion
Talisman Energy has announced that the holders of its common shares and preferred shares have approved the proposed arrangement under which Repsol, through a wholly-owned subsidiary, is to acquire all of the outstanding shares of Talisman. More »
TGS extends Declaration Multi-WAZ survey in Gulf of Mexico
TGS has extended its Declaration Multi-WAZ survey in the Mississippi Canyon and DeSoto Canyon protraction areas of the Gulf of Mexico. More »
OMV Petrom 2014 profit falls 56% as oil prices prompt fourth-quarter loss
BUCHAREST, Romania (Bloomberg) -- OMV Petrom, Romania’s largest oil company, said its 2014 net income declined 56% from a year earlier as falling oil prices caused a loss in the fourth-quarter. More »
Oil extends decline as U.S. crude stockpiles seen expanding glut
Oil fell for a second day before U.S. government data forecast to show crude stockpiles in the world’s biggest consumer expanded to a record level. More »
Churchill launches world’s first hydraulic pipe recovery tool - HyPR
Churchill Drilling Tools has launched HyPR (Hydraulic Pipe Recovery) system for the rapid and cost-effective recovery of stuck pipe. More »
Sen. Murkowski, Heitkamp lead coalition urging oil exports to Mexico
U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada. More »
‘Premier’ shale driller EOG halts growth in bullish oil signal
The biggest, fastest-growing oil producer in the U.S. said it plans to halt output growth this year, delivering a signal that shale companies are beginning to do what it takes to reduce oversupplies. More »
MAN Diesel and Turbo commissions two compression modules for MODEC's FPSO, off Brazil
MAN Diesel and Turbo has successfully completed the commissioning of two compression modules on board of FPSO Cidade de Mangaratiba MV24 for MODEC. More »
Marathon Oil cuts spending by another 20%
Marathon Oil has announced a $3.5 billion capital, investment and exploration budget for 2015, a further 20% decrease since the Company's December capital budget update. More »
Wednesday, 18 February 2015
Israeli regulators recommend Delek, Noble sell stakes in Tamar and other gas fields, develop Leviathan
An Israeli government panel recommended that Delek Group and Noble Energy sell part of their stakes in the offshore Tamar and other producing gas fields to increase competition in the industry. More »
The hot new statistic oil traders are eyeing is 71 years old
HOUSTON (Bloomberg) -- This past Friday, oil traders were bent over their desks, staring at their screens, waiting for 1 p.m. New York time to see whether drillers extended their biggest-ever retreat from U.S. oil fields. (They did.) Oil futures spiked within minutes of the count, closing at the highest level in four days. More »
Aker Solutions to cut jobs amid oil slump
Aker Solutions will in 2015 adjust its workforce capacity within the maintenance, modifications and operations (MMO) market in Norway after a continued decline in activity levels. About 300 engineering and project management employees in the Norwegian MMO business may be affected. More »
Aubrey McClendon vows to fight Chesapeake’s claims of theft
Aubrey McClendon, the ousted co-founder of Chesapeake Energy Corp., said he’ll fight a lawsuit by his former company accusing him of stealing trade secrets to start a rival oil venture. More »
Saudi oil exports decline as OPEC ends ‘tough year’ in surplus
Saudi Arabia, the world’s biggest crude exporter, shipped 5.7% less oil overseas last year in a sign the price rout did little to revive demand. More »
Technip promises revenue growth in 2015 amid oil-price slump
Technip SA, France’s largest oil engineer, promised revenue and profit growth in 2015 even after the decline in crude prices forced the industry to cut capital spending. More »
Genie Energy subsidiary spuds exploratory well in Israel’s Golan Heights
NEWARK, New Jersey -- Genie Energy Ltd., an oil and gas exploration company and retail energy provider, said Tuesday that its Afek subsidiary has spudded its first exploratory well in the Golan Heights region of Northern Israel. More »
BLM paves way for first production from Alaska’s National Petroleum Reserve
The Bureau of Land Management (BLM) has issued a Record of Decision (ROD) for the proposed Greater Mooses Tooth Unit project (GMT1), opening the way for the first production of oil and gas from federal lands in the 23-million acre National Petroleum Reserve-Alaska (NPR-A). More »
Pennsylvania forms oil, gas advisory committee for conventionals
Pennsylvania’s Department of Environmental Protection (DEP) has announced a newly formed Conventional Oil and Gas Advisory Committee (COGAC) to increase transparency and communication about regulating the conventional oil and gas drilling industry. More »
MEO to farm-in into three Australian exploration permits
MEO Australia's wholly owned subsidiaries have executed an Option Agreement with an international exploration company providing the farminee with an option to farm-in to any of the WA-488-P, AC/P50 and AC/P51 permits. More »
Eni profit falls more than 60% on lower oil prices
Eni reported a 64% decline in profit caused by falling oil prices and losses on the fair-value interests in Galp and Snam. More »
Oil halts rising streak as U.S. stockpiles seen worsening glut
Oil fell for the first time in four days before U.S. government data forecast to show crude inventories increased further last week from a record level. More »
Buffett’s Berkshire eliminates Exxon stake amid plunge in oil prices
Warren Buffett’s Berkshire Hathaway Inc. eliminated its holding in Exxon Mobil Corp., exiting a $3.7 billion investment in the world’s largest energy company as oil prices fell. More »
Tuesday, 17 February 2015
Ohio city loses fight for control over oil and gas drilling
COLUMBUS (Bloomberg) -- An Ohio city lost a battle for control over oil and gas drilling permits within its borders with the Ohio Supreme Court saying the authority belongs to the state. More »
Oil exploration in Norway’s Arctic cut by half after crude crash
OSLO (Bloomberg) -- Oil exploration in Norway’s Arctic waters will be cut by half this year as state-controlled Statoil ASA halted drilling in the Barents Sea after crude prices plunged. More »
Oil advances to highest this year amid Libyan, Iraqi Disruptions
NEW YORK (Bloomberg) -- Oil rose to the highest level this year as chaos in Libya curbed output and as an agreement between Iraq’s central government and the Kurdish region over crude exports was tested by falling prices. More »
Halliburton and Baker Hughes set meetings to approve acquisition
Halliburton and Baker Hughes have announced special meetings of their stockholders, in connection with the pending acquisition. More »
BP Energy Outlook 2035: Growing gas and shifting flows
Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia—particularly in China and India—will drive continued growth in the world’s demand for energy over the next 20 years. More »
John Wood plans to boost payout this year amid lower oil prices
John Wood Group Plc plans to increase its dividend this year as the UK oil and gas services provider’s business shows “resilience” amid the lower oil-price environment. More »
Sound Oil prepares to drill second well on Italy’s Carita license
Sound Oil has received drilling authorization for the second well in the Carita license from the Italian Ministry of Economic Development. The Carita license includes the Nervesa gas discovery. More »
Oil rises as OPEC producers signal optimism over market recovery
Oil extended three consecutive weekly gains in London as OPEC ministers signaled their confidence that the market can sustain its rebound. More »
Golar LNG Limited sells Golar Viking to Equinox
Golar LNG Ltd. has announced the completion of the sale and delivery of the 2005 built LNGC Golar Viking to PT Perusahaan Pelayaran Equinox. More »
Bakken oil train derails, ignites forcing West Virginia evacuations
A CSX Corp. train carrying Bakken oil from North Dakota derailed and ignited in West Virginia, forcing some residents to flee their homes in frigid weather while cutting power and threatening drinking water. More »
Bakken oil train derails, ignites forcing West Virginia evacuations
A CSX Corp. train carrying Bakken oil from North Dakota derailed and ignited in West Virginia, forcing some residents to flee their homes in frigid weather while cutting power and threatening drinking water. More »
Deep Sea Supply bags PSV contracts for Sea Brasil, Sea Frost
LIMASSOL,Cyprus -- Deep Sea Supply has agreed on a one year firm plus one year options contract with Petrobras for the PSV Sea Brasil for operations in Brazil. More »
Sanctions don’t bar oil-service giants bidding in Arctic
U.S. and European suppliers to the oil industry are still able to seek work in Russia’s Arctic despite sanctions designed to limit their involvement because the rules don’t apply to foreign subsidiaries. More »
Australian LNG output cuts seen long term amid gas shortage
A shortage of coal-seam gas, needed to feed about $60 billion of export projects in eastern Australia, may prompt the developers to reduce shipments in the long term, according to Credit Suisse Group. More »
Iran oil ministry faces cash emergency after drop in prices
The Iranian oil ministry won’t be able to pay staff or invest in boosting production if parliament proceeds with a plan to slash funding, according to Oil Minister Bijan Namdar Zanganeh. More »
Deep Sea Supply bags two PSVs contract from Petrobras in Brazil
LIMASSOL,Cyprus -- Deep Sea Supply has agreed on a one year firm plus one year options contract with Petrobras for the PSV Sea Brasil for operations in Brazil. More »
Sterling Energy acquires complete interest in Ntem block, offshore Cameroon
Sterling Cameroon Limited, a wholly owned subsidiary of Sterling Energy, has signed an agreement with Murphy Cameroon Ntem Oil Co. to acquire 50% interest and operatorship of the Ntem Concession, offshore Cameroon. More »
Noia honours oil and gas leaders with 2015 Industry Achievement Awards
The Newfoundland and Labrador Oil and Gas Industries Association (Noia) has announced the recipients of its 2015 Industry Achievement Awards. More »
HB installs temporary living-quarter complex offshore Trinidad and Tobago
HB Rentals has installed an end-to-end package for BHP Billiton, consisting of offshore accommodation modules and operating essentials for water, sewage, power and lighting. The BHP Billiton project is in the Angostura field, offshore Trinidad and Tobago. More »
Principal financial backer of fraudulent Ecuador litigation withdraws support, settles with Chevron
Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. More »
Proserv wins Subsea UK Company of the Year accolade
Proserv has won a much coveted industry award in recognition of its outstanding achievements after being named Company of the Year at the 2015 Subsea UK Business Awards on Feb.11. More »
HHI hands over world’s largest cylindrical FPSO to Eni
SEOUL, Korea -- Hyundai Heavy Industries (HHI) has announced that Goliat FPSO, the world’s largest cylindrical FPSO ordered by Eni Norge, has sailed away from its yard. More »
Monday, 16 February 2015
ValueAct places a $3 billion bet on Baker Hughes merger with Halliburton
ValueAct Capital Management has amassed a new stake in Halliburton Co. alongside its activist holdings in Baker Hughes Inc. as the investor champions an agreed merger of the oilfield-services providers More »
Crude oil trades near two-month high as drilling slows in U.S.
(Bloomberg) -- Oil traded at an almost two-month high in London amid speculation that a slowdown in U.S. drilling may curb production. More »
Kuwait sees crude price recovering, set to add more oil rigs
KUWAIT (Bloomberg) -- The surplus in global crude supply is smaller than the 1.8 MMbopd Kuwait estimated last month, and prices will continue to recover, Oil Minister Ali Al- Omair said. More »
China ‘teapot’ refineries may access imported oil under new rule
SHANGHAI (Bloomberg) -- China will allow more oil refiners to process imported crude, opening the door for small, independent plants known as teapots to use an alternative feedstock. More »
Rolls-Royce vows compliance after Petrobras bribe accusation
RIO DE JANEIRO (Bloomberg) -- Rolls-Royce Holdings said it will take all necessary action to ensure compliance with the law following allegations it was involvement in bribery and kickbacks at Brazilian oil producer Petrobras. More »
EMGC 2015 to examine export options for Eastern Mediterranean gas producers
Eastern Mediterranean Gas Conference (EMGC) 2015 is the premier event for professionals working in, or seeking to be involved in, the significant offshore gas reserves in the Eastern Mediterranean. More »
Chevron settles with backer of fraudulent Ecuador litigation
Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. More »
Siemens sticking with energy push heralds subsea deals
If Siemens AG is still serious about getting bigger in energy markets, its next move should be offshore. More »
Johan Sverdrup valued at $11.2 billion by Wood Mackenzie
Statoil and the field partners reached a final investment decision (FID) for the 2.35 Bbbl Johan Sverdrup oil field in the Norwegian North Sea on Friday. More »
Schlumberger introduces fully dissolvable plug-and-perf system
HOUSTON -- Schlumberger announced today the release of the Infinity dissolvable plug-and-perf system, which uses fully degradable fracture balls, and fully degradable seats instead of plugs, to isolate zones during well stimulation. More »
U.S. oil-rig slump not enough to halt output growth, Goldman says
The decline in the number of rigs drilling for oil in the U.S. to the fewest since August 2011 is still not enough to halt production growth, according to Goldman Sachs Group Inc. More »
Friday, 13 February 2015
U.S. drillers extend biggest-ever rig retreat to 10th week
U.S. oil explorers, facing crude near $50/bbl, idled rigs for the 10th straight week, extending an unprecedented retreat in drilling and dragging the nation’s total rig count down to the lowest level in almost five years. More »
U.S. oil explorers extend biggest-ever rig retreat to 10th week
HOUSTON (Bloomberg) -- U.S. oil explorers, facing crude near $50/bbl, idled rigs for the 10th straight week, extending an unprecedented retreat in drilling and dragging the nation’s total rig count down to the lowest level in almost five years. More »
Rig count collapse no obstacle to booming oil output
HOUSTON -- The U.S. drilling frenzy is over. What’s not is the boom in oil production. While companies have idled 151 rigs in five shale formations since reaching a peak of 1,157 in October, they’ll need to park another 200 for growth to stall, according to data from the U.S. EIA. More »
U.S. Senator Murkowski introduces bill to allow energy production on ANWR coastal plain
WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, introduced legislation that would allow limited oil and natural gas activity within the non-wilderness coastal plain of the Arctic National Wildlife Refuge (ANWR). More »
U.S. Senator Lisa Murkowski introduces bill to allow energy production on ANWR coastal plain
WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, introduced legislation that would allow limited oil and natural gas activity within the non-wilderness coastal plain of the Arctic National Wildlife Refuge (ANWR). More »
North Dakota output rose 2.4 MMbbl in December, State says as rigs drop
North Dakota’s oil production rose by nearly 2.4 MMbbl in December, but the state’s rig count has now fallen to its lowest level in nearly five years. More »
Rowan Reliance joins ultra-deepwater drillship fleet
Rowan Drilling has taken delivery of the Rowan Reliance ultra-deepwater drillship. The third in a series, the newbuild was built at the Hyundai Heavy Industries yard in South Korea. More »
Seadrill writes off $1.1 billion of Petrobras orders
HAMILTON, Bermuda – Seadrill, the world's third-biggest offshore driller, has cut $1.1 billion worth of Petrobras orders from its backlog. More »
TransCanada profit beats estimates as Keystone leg comes online
TransCanada Corp., the company proposing the $8-billion Keystone XL pipeline, said fourth-quarter profit rose as it began oil shipments on the southern leg of the project. More »
Statoil in minor discovery near North Sea’s Ekofisk field
Statoil Petroleum, operator of production license 146, is in the process of completing the drilling of wildcat well 2/4-22 S. The well resulted in a minor oil discovery. More »
Interior releases updated assessment for 2008 Chukchi Sea lease sale
The U.S. Department of the Interior announced the release of a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193 on Thursday, which moves the Department one step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. More »
Alaska LNG Project draft resource reports filed with FERC
ANCHORAGE, Alaska -- A series of draft environmental and socioeconomic reports for the Alaska LNG Project has been submitted to the U.S. Federal Energy Regulatory Commission (FERC), which is responsible for conducting the environmental review of the project. More »
Statoil to submit development plan for Johan Sverdrup
Statoil and its partners, on Feb.13, will submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. More »
N-Sea invests $2.3 million in new dive support vessel
N-Sea has launched its third diving support vessel, the Edradour. More »
WPX Energy slashes spending, cuts rigs
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow. More »
Subsea 7 bags contract from Woodside Energy offshore Australia
Subsea 7 has been awarded a contract by Woodside Energy for the Persephone Work Pack 2 fabrication, subsea installation and diving services project, offshore Australia. More »
Statoil to submit development plan for Johan Sverdrup; demands 40% stake
Statoil and its partners, on Feb.13, will submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. More »
Eni inks Goliat FPSO contract with TOOLS
Eni Norge has entered into a contract with TOOLS for the provision of services and supplies to the Goliat FPSO, leading to a further buildup of activity for the supplier in Hammerfest. More »
N-Sea invests $2.31 million in new dive support vessel
N-Sea has launched its third diving support vessel, the Edradour. More »
WPX Energy aligns capital plan with operating cash flow
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow. More »
Eni appoints Marco Bardazzi as Director of external communication
Eni is strengthening the communication of its global activities, focusing on the innovation opportunities offered by digital technology in order to make its relationships with stakeholders, media and public opinion broader and even more transparent. More »
Wintershall expands steam flooding at Emlichheim
EMLICHHEIM, Germany -- Wintershall is now applying a tried-and-tested production technique to another crude oil formation at its Emlichheim reservoir: to recover more oil, the BASF subsidiary is feeding hot steam into the Gildehaus sandstone. More »
Apache’s drastic rig cuts hit brakes on shale
HOUSTON (Bloomberg) -- Apache Corp.’s decision to sharply curb the growth of its oil output this year suggests that the major U.S. shale producers who helped create a global oil glut will be able to reduce supplies faster than expected. More »
Thursday, 12 February 2015
Innovative forging process produces seamless landing strings
Vallourec has developed an innovative forging process to produce seamless forged landing strings. More »
Precision Polymer Engineering opens Texas plant
BRENHAM, Texas -- Precision Polymer Engineering (PPE), has opened its new seals manufacturing facility in Brenham, Texas. More »
Cenovus to cut 800 jobs, freeze wages after oil slide
Cenovus Energy will cut staff by 15%, freeze wages this year and reduce spending on travel, conferences and information technology after the global slump in oil prices. More »
Halliburton announces two completion tools
Halliburton has announced two new completion products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
Halliburton announces two completion tools
Halliburton has announced two new completion products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
Halliburton releases two new completion tools
HOUSTON -- Halliburton Completion Tools has released two new products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
New handbook highlights scale of UK's offshore fabrication capabilities
New information about the capabilities and capacity of the UK offshore fabrication sector is now available in the 2015 UK Offshore Oil and Gas Fabricators Directory, which Oil and Gas UK—the representative body for the UK offshore industry— published in digital form on Thursday. More »
Oil layoffs top 100,000 as job pilgrims’ dreams shatter
The promise of plentiful jobs and salaries as high as a quarter-million dollars a year lured Colombia native Clara Correa Zappa and her British husband to Perth, Australia, at the height of the continent’s oil and gas frenzy. More »
TAG Oil announces resignations of CEO, COO
TAG Oil’s CEO and Director, Garth Johnson, and COO, Drew Cadenhead, have submitted their resignations, but they will continue in their respective roles during a transition period to support the appointment of new executives. More »
Australia Pacific LNG’s first gas reaches Curtis Island
GLADSTONE, Queensland -- Australia Pacific LNG announced Wednesday that it had reached a significant milestone with the arrival of first gas from its coal seam gas fields in the Surat basin to its LNG facility on Curtis Island, near Gladstone, Queensland. More »
Cenovus to cut staff by 15%, freeze pay after oil drop
Cenovus Energy will cut staff by 15%, freeze wages this year and reduce spending on travel, conferences and information technology after the global slump in oil prices. More »
Lundin in minor discovery northeast of Johan Sverdrup
Lundin Norway, operator of production license 674 BS, is in the process of completing the drilling of wildcat well 26/10-1. The well resulted in a minor gas discovery. More »
Total to curb spending, exploration as profit sinks on oil drop
Total SA will reduce spending, increase job cuts and curtail exploration this year after the crash in crude prices cut fourth-quarter profit 17%. More »
Swiber bags $310 million EPCIC contract in South Asia
SINGAPORE -- Swiber Holdings has secured its second largest contract win in the group’s corporate history - an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia. More »
Petrobras platform explosion kills 5 at gas field off Brazil
Five workers died and four went missing in an explosion on a production vessel at a natural-gas field off Brazil’s coast operated by state-run Petroleo Brasileiro, said Norway’s BW Offshore, the ship’s owner. More »
Swiber bags $310 million EPCIC services contract in South Asia
SINGAPORE -- Swiber Holdings has secured its second largest contract win in the group’s corporate history - an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia. More »
Petrobras platform explosion kills 5 at gas field off Brazil
Five workers died and four went missing in an explosion on a production vessel at a natural-gas field off Brazil’s coast operated by state-run Petroleo Brasileiro, said Norway’s BW Offshore, the ship’s owner. More »
Oil holds below $50 after two-day slide amid rising U.S. supply
Oil held below $50/bbl after two days of losses as government data showed U.S. crude inventories and production surged to the highest levels in more than three decades, adding to signs that a supply glut may persist. More »
Oil demand seen by Saudis improving with prices stabilizing
Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi. More »
Gardner Denver introduces Black Diamond hydrostatic tester
Gardner Denver has introduced a hydrostatic workhorse that delivers more, faster and for less, the Black Diamond hydrostatic tester. More »
iStore launches WellBitz.com to help U.S. petroleum industry
The Information Store (iStore), a developer of oilfield software, announces the commercial launch of WellBitz.com to give petroleum companies access to low-cost tools for managing properties, collaborating, storing, mapping, and analyzing oilfield data. More »
3sun Group's Manager sets for Regional Chair for ECITB
3sun Group's income stream manager for 3sun Academy, James Hall, has been appointed as Regional Chair for ECITB. More »
2H Offshore appoints Phil Ward as Director of Aberdeen office
2H Offshore, an Acteon company, has appointed Phil Ward as a director in its Aberdeen office. More »
Wednesday, 11 February 2015
Oil producers outside OPEC stuck in crossfire with shale (1)
NEW YORK -- Oil producers outside OPEC and U.S. shale fields are getting caught in the confrontation over market supremacy that has brought crude prices to near six-year lows. More »
Abu Dhabi said to seek $7 billion in latest onshore oil bids
DUBAI -- Abu Dhabi is seeking about $7 billion in payments from foreign companies for production stakes still to be awarded in the emirate’s biggest onshore oil fields, two people with knowledge of the situation said. More »
Apollo’s energy head says worst is yet to come for oil producers
NEW YORK -- Apollo Global Management LLC’s head of energy investing said the worst is still to come for oil as OPEC may decide against cutting production for years. More »
Oil demand seen by Saudis improving with prices stabilizing
DUBAI (Bloomberg) -- Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi. More »
Williams, Crestwood Midstream commission Niobrara gas plant
TULSA, Oklahoma -- Williams Partners and Crestwood Midstream Partners have announced the commissioning of the Bucking Horse gas processing facility located in Converse County, Wyoming, adding 120 MMcfd of processing capacity in the Powder River basin Niobrara shale play. More »
Petrobras offshore oil platform explosion kills three
RIO DE JANEIRO (Bloomberg) -- Three workers died and four others were injured in an explosion on an offshore oil platform operated by Brazil’s state-run oil company Petroleo Brasileiro SA, an oilworkers union said. More »
Sub Sea Services signs agreement with Astican Shipyard
STAVANGER, Norway -- Sub Sea Services and Astican Shipyard in Las Palmas, Canary Islands, have signed a business development agreement to serve the West Africa region. More »
Williams Partners, Crestwood Midstream commission Niobrara gas processing plant
TULSA, Oklahoma -- Williams Partners and Crestwood Midstream Partners have announced the commissioning of the Bucking Horse gas processing facility located in Converse County, Wyoming, adding 120 MMcfd of processing capacity in the Powder River basin Niobrara shale play. More »
Anadarko announces Board of Directors election, retirement
Anadarko Petroleum Corp. has announced the election of Mark C. McKinley to serve as an independent director of the company, effective Feb. 11, 2015. McKinley also was appointed a member of the Board's Audit Committee. More »
Study finds low methane emissions from natural gas collection, processing facilities
The vast majority of natural gas collection and processing facilities have methane leak rates of less than 1%, according to a major field study led by Colorado State University that examined 114 gathering facilities and 16 processing plants across 13 states. More »
Drillinginfo launches new oil and gas production index
AUSTIN, Texas -- Drillinginfo, Inc., has launched the Drillinginfo Index, the an indicator of new onshore U.S. oil and gas production trends. More »
VAALCO reports first production from new Etame development well
VAALCO Energy has announced first production from Etame 10-H, the second development well drilled from the newly installed Etame platform, offshore Gabon. More »
UK tax cuts likely for North Sea, but shale remains at risk, GlobalData says
LONDON -- While the UK government is likely to implement changes to the fiscal regime governing North Sea oil that will reduce the tax burden, the outlook for the country’s shale sector is less favorable to the industry, according to GlobalData More »
TransCanada disputes EPA on Keystone climate change claim
TransCanada has sent a letter to the U.S. Department of State that highlights the company's official response to the Feb. 2 comment letter from the U.S. Environmental Protection Agency (EPA) on the Department of State's Final Supplemental Environmental Impact Statement (FSEIS) for Keystone XL. More »
Bibby Offshore Singapore secures contract with Seascape
Bibby Offshore Singapore has secured a contract with subsea service provider Seascape. More »
Goldman sees oil rally fading as rig cuts not deep enough
The slump in oil prices may not be over, according to Goldman Sachs Group Inc. More »
Tap Oil ends farm-in to offshore Otway basin
Tap Oil has advised WHL Energy that it has elected not to exercise its option to acquire 10% interest in exploration permit Vic/P67 in the offshore Otway basin. More »
Oil trades above $50 as U.S. supply outlook boosts volatility
Oil traded above $50/bbl after the biggest slide in four days as investors weighed forecasts for slowing U.S. crude output against signs that the market is oversupplied. More »
TAM International strengthens Asia and Middle East management teams
TAM International has recently hired Scott Myers as Middle East Manager and Edward Wharam as Country Manager for Indonesia and Malaysia. More »
Petrobras' Libra Consortium completes drilling and testing of first well, finds oil
Petrobras has informed that the Libra Consortium has completed the drilling and testing of the first appraisal well in the Libra area and confirmed oil presence. More »
2015 upstream capex to surpass $4 billion in SCOOP core, Wood Mackenzie says
Even in the current price environment, the best producing parts of the South-Central Oklahoma Oil Province (SCOOP) are on par with the Eagle Ford and Bakken according to Wood Mackenzie’s latest key play analysis. More »
InterOil: Arbitration claims dismissed; Total declared a party to PRL 15 JVOA
InterOil Corporation has advised that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search Limited, to pre-emptive rights over a share sale and purchase agreement involving an interest in the Elk-Antelope gas field in Papua New Guinea. More »
Oil producers outside OPEC stuck in crossfire with shale
Oil producers outside OPEC and U.S. shale fields are getting caught in the confrontation over market supremacy that has brought crude prices to near six-year lows. More »
Tuesday, 10 February 2015
Petrobras said to hit snag while drilling Libra well
Petrobras halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team. More »
EIA trims oil output forecast as drilling falls with prices
The Energy Information Administration has reduced its 2015 U.S. crude production outlook as lower prices curb drilling activity. More »
Wireless system offers remote monitoring of well pad tubing and casing pressures
A long-range mesh networking technology is now available for remote monitoring of well pad tubing and casing pressures. More »
DOJ requests additional information related to Halliburton acquisition of Baker Hughes
HOUSTON -- Halliburton and Baker Hughes have each received a request for additional information from the U.S. Department of Justice in connection with Halliburton's pending acquisition of Baker Hughes. More »
Global Geophysical Services emerges from Chapter 11
Global Geophysical Services has successfully completed its balance sheet restructuring and emerged from bankruptcy, following confirmation of Global's Second Amended Joint Chapter 11 Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division, on Feb. 6, 2015. More »
Halliburton cutting jobs on ‘challenging market environment’
HOUSTON (Bloomberg) -- Halliburton Co. is cutting as much as 8% of its global workforce as it confronts the collapse of oil prices. More »
STEP Energy Services completes inaugural job with STEP-ARM
STEP Energy Services’ coiled tubing technology advancement, the STEP-ARM (Articulating Rotational Mast), marked its maiden voyage on Jan. 26 and has successfully completed its first job. More »
Sound Oil gets technical approval for Nervesa gas discovery, Italy
Sound Oil has announced the technical approval of the environmental impact assessment (EIA) for the Nervesa gas discovery production concession from the Veneto Region's Technical Committee. More »
Taipan starts arbitration against Afren subsidiary
Taipan Resources has started an arbitration action against East African Exploration (Kenya) Limited, a wholly owned subsidiary of Afren Plc. More »
CAMAC Energy completes 2D seismic acquisitions in Kenya
CAMAC Energy has completed its onshore 2D seismic acquisitions on Blocks L-1B and L-16 in Kenya. More »
Ultra-deepwater pipeline flows first gas in Gulf of Mexico
TULSA, Oklahoma -- Williams and DCP Midstream Partners have announced that the new extended Discovery natural gas gathering pipeline system is now flowing natural gas. More »
Fresh oil price drop possible on U.S. supply, biggest trader says
The world’s biggest independent oil trader said crude prices could resume a slump that saw them fall 61% between June and January, as unrelenting growth in U.S. output leads to a “dramatic” build in the nation’s stockpiles. More »
Kinder Morgan to buy three Vopak U.S. terminals, one undeveloped site for $158 million
Kinder Morgan will purchase three terminals and one undeveloped site from Royal Vopak for approximately $158 million. More »
Sterling Energy acquires interest in Block C-3, offshore Mauritania
Sterling Energy Mauritania, a wholly owned subsidiary of Sterling Energy, has signed a sale and purchase agreement with Tullow Mauritania, a subsidiary of Tullow Oil, to acquire a 40.5% interest in the PSC for Block C-3, located offshore in the Islamic Republic of Mauritania (SPA). More »
Occidental agrees to $500 million oil exploration in Abu Dhabi
Occidental Petroleum, the second- largest independent U.S. oil producer, agreed to a $500 million oil exploration project with Abu Dhabi over two years. More »
IEA sees U.S. adding most oil to global supply through 2020
The U.S. will remain the biggest contributor to global growth in oil supplies to 2020 as OPEC’s attempts to defend its market share will hurt other suppliers including Russia more, according to the International Energy Agency. More »
CNOOC signs PSCs with SK in South China Sea
CNOOC Limited has signed two PSCs with SK Innovation for Blocks 04/20 and 17/03 in the South China Sea, located in the Pearl River Mouth basin. More »
Sterling Energy acquires interest in Block C-3, Mauritania
Sterling Energy Mauritania, a wholly owned subsidiary of Sterling Energy, has signed a sale and purchase agreement with Tullow Mauritania, a subsidiary of Tullow Oil, to acquire a 40.5% interest in the PSC for Block C-3, located offshore in the Islamic Republic of Mauritania (SPA). More »
Dana Petroleum discovers oil in Danish North Sea
Dana Petroleum has successfully completed the drilling of the Lille John-2 appraisal well and side-track on the Lille John oil field in license 12/06 in the Danish North Sea. More »
Kinder Morgan to purchase $158 million worth terminals from Royal Vopak
Kinder Morgan will purchase three terminals and one undeveloped site from Royal Vopak for approximately $158 million. More »
Monday, 9 February 2015
API: Obama's leasing program endangers U.S. energy competitiveness
The offshore leasing program proposed by the Obama administration puts America’s energy competitiveness at risk, API President and CEO Jack Gerard told reporters Monday as the government kicked off a series of public meetings on the proposal around the country. More »
OPEC cuts U.S. oil-supply growth forecast after price rout
OPEC made the deepest cut to its forecasts for 2015 global oil-supply growth since it first published them in August as U.S. producers lead a slowdown in drilling after last year’s price collapse. More »
Helge Lund takes helm at BG Group
BG Group has announced that Helge Lund—the former CEO of Statoil—has now joined the company as its new CEO and an executive director. More »
Statoil chooses unmanned wellhead platform for future Oseberg development
Statoil and its license partners have chosen an unmanned wellhead platform as the concept for the Oseberg future development phase I project in the North Sea. More »
Atlantic Offshore Rescue names new UK Managing Director
Atlantic Offshore Rescue has appointed a new managing director for its UK division to lead the organization from its Aberdeen base. More »
Inpex sells stake in Louisiana block to Sibley
Inpex Corp.’s wholly owned subsidiary Teikoku Oil (North America) Co. has agreed to sell all of its participating interest (25%) in Louisiana’s Block SL20183 to Sibley Petroleum Investments. More »
Shell to explore in deepwater offshore Myanmar
Shell and its partner Mitsui Oil Exploration group (MOECO) have signed exploration and production sharing contracts with Myanma Oil and Gas Enterprise of Myanmar for three deepwater blocks. More »
Statoil reports success in North Sea's Krafla area
Statoil, together with its partners in PL035, has completed a two-well program in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area. More »
Statoil gains exploration success in Krafla area
STAVANGER, Norway -- Operator Statoil has together with PL035 partners completed a two-well programme in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area. More »
BG Group announces Helge Lund as CEO
BG Group has announced that Helge Lund will join the company as CEO and an executive Director with effect from Feb. 9, 2015. More »
Oil in ‘$20 range’ seen by Citigroup as oversupply ends in tanks
Oil as low as “the $20 range,” or less than half the current price, is possible by the start of the second quarter as oversupply ends up filling storage tanks close to capacity, Citigroup said. More »
Abu Dhabi seeking bids for largest onshore oil fields on Feb. 10
DUBAI (Bloomberg) -- Abu Dhabi National Oil is seeking final bids by Feb. 10 for concessions to the emirate’s largest onshore fields, said Abdullah Nasser Al Suwaidi, director general of the state-owned company. More »
Oil holds gains as U.S. drillers cut rigs amid global glut
Oil held gains after the biggest weekly advance in almost four years as signs of a drilling slowdown in the U.S. bolstered speculation that companies are cutting back crude production amid a global glut. More »
Petrobras appoints new CEO, CFO and executive officers
Petrobras has informed that its Board of Directors, in a meeting held today, has approved with majority vote the election of Aldemir Bendine as CEO of Petrobras replacing the current CEO, Maria das Graças Silva Foster. More »
Otto Marine bags two PSV charter contracts worth $64 million
Otto Marine has secured two long term charter contracts for two PSVs to an oil major in Australia. More »
Sunday, 8 February 2015
America’s biggest oil field hit hardest by idled drilling rigs
HOUSTON (Bloomberg) -- America’s legacy Permian Basin, the biggest of all oil fields in the U.S., was hit hardest by drillers this week retrenching amid the worst price collapse in six years. More »
Oil firms’ debt spiral may have added to price rout in BIS view
LONDON (Bloomberg) -- A fourfold increase in energy companies’ debts since 2003 may have deepened last year’s oil-price rout as firms delayed curbing output and sold futures contracts to hedge against the slump, the Bank for International Settlements said. More »
Roussef taps state banker to lead Petrobras from scandal
RIO DE JANEIRO -- Brazil's President Dilma Rousseff is putting her faith in a state bank executive to guide Brazil’s national oil company out of an unprecedented graft scandal. More »
America’s biggest oil field hit hardest by idled drilling rigs
HOUSTON (Bloomberg) -- America’s legacy Permian Basin, the biggest of all oil fields in the U.S., was hit hardest by drillers this week retrenching amid the worst price collapse in six years. More »
Oil firms’ debt spiral may have added to price rout in BIS view
LONDON (Bloomberg) -- A fourfold increase in energy companies’ debts since 2003 may have deepened last year’s oil-price rout as firms delayed curbing output and sold futures contracts to hedge against the slump, the Bank for International Settlements said. More »
Roussef taps state banker to lead Petrobras from scandal
RIO DE JANEIRO -- Brazil's President Dilma Rousseff is putting her faith in a state bank executive to guide Brazil’s national oil company out of an unprecedented graft scandal. More »
Friday, 6 February 2015
U.S. rig count falls for ninth week led by Permian cutbacks
The U.S. rig count has fallen for the ninth week in a row with nearly half of this week’s 87 rig drop being accounted for by rigs seeking oil in the Permian basin. More »
Baker Hughes announces release of REAL Connect service
Baker Hughes has announced the commercial release of its REAL Connect service, which leverages superior diverter systems, advanced engineering techniques, and experienced wellsite personnel to help improve hydrocarbon recovery in hydraulic fracturing applications. More »
Obama admin to offer 41 million acres in GoM for March lease sale
WASHINGTON -- U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper have announced that Interior will offer 41.2 million acres for oil and gas exploration and development in the Gulf of Mexico in a March lease sale. More »
Texas swagger fades fast as oil town squeezed hard by OPEC
Back in October, Jill Potts waved off concerns about falling crude prices, pointing to the long lines of trucks forming outside her oil field supply store in South Texas as evidence that the shale boom was still going strong. More »
Saipem bags contract for Kashagan field worth $1.8 billion
Saipem, through its subsidiary ERSAI Caspian Contractor, has been awarded a major new engineering and construction contract for the Kashagan field project, located in the Kazakh waters of the Caspian Sea, valued at approximately $1.8 billion. More »
Statoil deepens spending cuts as oil price rout saps profits
Statoil deepened cost cuts and halted dividend growth as Norway’s biggest energy company struggles to withstand a plunge in oil prices. More »
Spectrum commences multi-client 2D seismic project offshore Brazil
Spectrum has commenced a 12,000 km multi-client 2D seismic survey offshore the Pelotas basin of Brazil. More »
Lundin discovers gas in Zulu prospect in North Sea
Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has completed the drilling of wildcat well 26/10-1 and discovered gas. More »
Cape bags multiple contracts in Azerbaijan
Cape plc has announced that its SOCAR Cape JV has been awarded three significant contracts in Azerbaijan. More »
Ivanhoe Energy terminates specific services contract on Block 20 project in Ecuador
Ivanhoe Energy has announced that Ivanhoe's specific services contract on Block 20 in Ecuador is being terminated by mutual consent between Ivanhoe and Petroamazonas EP, Ecuador's state-run oil company. More »
Darrell Johnson joins Camcon Oil as strategic adviser
Camcon Oil has appointed Darrell Johnson of RMS Partnership as strategic adviser to the Camcon Board and shareholders. More »
National Shale Oil RandD Centre established in Sinopec
As a key innovation platfor approved by China’s National Energy Administration, the National Shale Oil RandD Centre is established in Sinopec. More »
Seatronics, 2G Robotics announce global sales and distribution partnership
Seatronics, an Acteon company, and 2G Robotics, have announced a global sales and distribution partnership. More »
Ikon Science announces first sale of Ji-Fi product
Ikon Science has announced the first sale of the breakthrough Joint Impedance and Facies Inversion product (Ji-Fi) to U.S. based independent operator Murphy Exploration and Production. More »
InterMoor appoints Cohen Guidry as regional Manager, West Africa
InterMoor, an Acteon company, has appointed Cohen Guidry as the regional Manager, West Africa. More »
Thursday, 5 February 2015
‘God’ of crude oil trading sees oil rally benefiting shale since this isn't ‘86
The oil industry’s billions in spending cuts are paving the way for a price rebound that will make the best shale producers attractive investments, commodity hedge fund manager Andrew J. Hall told investors. More »
Kurd oil producers resort to $30 sales as export income stalled
Foreign oil producers in Iraqi Kurdistan are resorting to selling crude at about $30/bbl in the domestic market as the government hangs on to companies’ export earnings amid weaker world prices and a costly battle with Islamic State. More »
Rosneft to cut spending 10% this year, Sechin says
Rosneft, Russia’s largest oil producer, is set to cut spending by 10% this year, Igor Sechin, the company’s CEO, has said. More »
ABB wins $50-million contract for Petronas FLNG vessel
ABB has won a contract worth more than $50 million to supply the electrical system for one of the world’s first commercial FLNG facilities, and the second to be owned by Petronas. More »
26-well campaign underway at Algeria’s Reggane Nord gas project, RWE Dea says
The Reggane Nord consortium, which includes RWE Dea, has commenced development drilling at the gas project in the Algerian Sahara. More »
Inpex announces first oil from Nasr field, offshore UAE
Inpex Corp., through its wholly owned subsidiary, Japan Oil Development Co., commenced oil production from Nasr field, offshore Abu Dhabi, the United Arab Emirates, on Jan. 24. More »
Weatherford to cut 5,000 jobs after plunge in oil price
Weatherford plans to cut 5,000 jobs in the first quarter, joining larger competitor Schlumberger Ltd. in responding to lower oil prices. More »
No Keystone, no problem for Canadian oil seeking ports
NEW YORK (Bloomberg) -- While the debate intensifies over whether TransCanada Corp.’s Keystone XL pipeline should be approved, traders are quietly setting up alternative routes to ship Canadian oil from U.S. ports. More »
Rod Starr assumes role as CEO of Polarcus
Rod Starr has now assumed the role of CEO of Polarcus, the company has confirmed. More »
Suncor to push ahead with Fort Hills oil sands amid oil rout
Suncor Energy Inc., Canada’s largest oil company, will push ahead with its planned Fort Hills oil sands project even as the price of oil hovers around $50 bbl. More »
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