Weatherford and Chevron push temperature barriers in the Gulf of Thailand

Weatherford International plc announced the development of the HeatWave Extreme service for commercial use by Chevron Thailand. More »

Quiet Gulf hurricane season end leaves oil drowned in oversupply

Oil bulls can say farewell to another quiet Atlantic hurricane season in the Gulf of Mexico, which ends Monday without a storm-induced price rise to lift crude from its once-in-a-generation slump. More »

Iran gives investors glimpse of $30 billion in oil deals

Iran is targeting about $30 billion in investment by offering 70 oil and natural gas projects to international companies as the Persian Gulf country anticipates the lifting of economic sanctions. More »

The $30 oil cliff that economists see threatening Russia

For Russia, $30 is the number to watch. More »

Fugro performs offshore survey program in Equatorial Guinea

Fugro has been awarded a contract by Ophir Equatorial Guinea (Block R) Ltd. for the provision of survey services for the development of large scale assets and infrastructure offshore Equatorial Guinea. More »

Expro enters Qatar with five-year contract win

Expro has achieved a significant milestone as it enters Qatar for the first time and expands its Middle Eastern presence with a five-year contract win. More »

Tendeka enhances RandD and training facilities

Tendeka, the provider of completions systems and services to the upstream oil and gas industry, has invested in a new facility at Minto Drive, Aberdeen, UK. More »

OPEC rivals become unwitting allies in push for oil-market share

Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team. More »

Wintershall joins World Bank‘s flaring initiative

Wintershall has joined the international initiative against the flaring of associated gas during oil production, the German producer announced Friday. More »

Rosneft sells 20% share of Siberian producer to BP

Rosneft has sold a 20% share of Taas-Yuryakh Neftegazodobycha LLC to BP. More »

DOF Subsea sells Skandi Protector to Australian government

DOF Subsea has entered into agreement for the sale of Skandi Protector to the Commonwealth of Australia. More »

Rosneft sells 20% share of Taas-Yuryakh Neftegazodobycha to BP

Rosneft has sold a 20% share of Taas-Yuryakh Neftegazodobycha LLC to BP. More »

DOF Subsea sells Skandi Protector

DOF Subsea has entered into agreement for the sale of Skandi Protector to the Commonwealth of Australia. More »

Lundin brings Norway’s Edvard Grieg field online

Lundin Petroleum has announced that first oil from the Edvard Grieg field in the Norwegian North Sea was achieved on Nov. 28, 2015. More »

Sterling Energy acquires interest in Tullow’s Block C-10 offshore Mauritania

Sterling Energy has completed the sale and purchase agreement between its wholly owned subsidiary, Sterling Energy Mauritania Limited (SEML) and Tullow Mauritania to acquire a 13.5% working interest in the production sharing contract (PSC) for Block C-10, located offshore in the Islamic Republic of Mauritania. More »

Oil set for monthly decline as OPEC seen standing firm on supply

Oil headed for its largest monthly drop since July as Iran signaled the Organization of Petroleum Exporting Countries won’t reduce its production target at a meeting this week. More »

Wintershall joins World Bank‘s “Zero Routine Flaring by 2030” initiative

Wintershall has joined the international initiative against the flaring of associated gas during oil production. More »

DNV GL renews Nord Stream certification

International certification body DNV GL has commended Nord Stream for its continued commitment to safe and reliable gas transportation and confirmed the pipeline operator’s compliance with the best-in-class industry requirements for design, integrity and functional safety. More »

Dana Gas Group awarded $1.98 billion in Iraq Kurds dispute

Dana Gas said a court has ordered the Kurdistan Regional Government to pay it and two other energy companies $1.98 billion in a dispute over development rights for two oil and natural gas fields in Iraq’s self-governing Kurdish region. More »

Oil trades below $43 as Libya signals output rise at two fields

Oil traded below $43 as Libya signaled it may raise output and as fears eased that Russia would retaliate against Turkey for downing its jet near the Syrian border. More »

Oil pares weekly advance as global supply glut seen growing

Oil pared its first weekly gain in a month on signs the global surplus will expand and as the dollar increased, reducing demand for commodities as an investment. More »

Struggling oil service urged to act as capital squeeze looms

Oil service companies struggling with a slump in demand will need to act fast to bolster their balance sheets and make deals before capital becomes scarce, Norway’s largest bank says. More »

Canadian energy companies seen disappearing in oil’s ‘new world’

Canada is poised to lose energy companies as the industry faces the “new normal” of lower and more volatile oil prices along with tougher climate and regulatory policies, billionaire investor Murray Edwards warned Friday. More »

Oil majors queue in Iran as $30 billion of projects in play

Total, Royal Dutch Shell and Lukoil are among international companies that have selected oil and natural gas deposits to develop in Iran as the holder of the world’s fourth-largest crude reserves presents $30 billion worth of projects to investors. More »

AGCC survey finds crisis of confidence for North Sea oil and gas industry

The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. More »

Suncor may scrap $4.5-billion Canadian Oil Sands bid if offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders. More »

Lloyd’s Register bags global Master Service Agreement with Statoil

Lloyd’s Register has signed a Master Service Agreement (MSA) with Statoil, effective Nov. 10 which will cover Statoil’s full project portfolio from new builds to modifications of existing assets. More »

Oil and gas stakeholders collaborate to repel birds from offshore installations and maintain safety

Offshore installations provide birds with a perfect landing spot. However, their presence is a globally recognized problem because, if left undisturbed, guano build up can reduce the safety of helidecks. More »

Jackup players collaborate to increase reliability and reduce cost in new DNV GL JIP

Lack of properly assessed and defined wear limits for jacking systems can lead to significant downtimes with financial implications for jackup operations. More »

Confidence crisis for North Sea oil and gas industry: AGCC's 23rd Oil and Gas Survey

The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. More »

Suncor may scrap oil sands bid if $4.5 billion offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders. More »

Biggest oil buyers pick themselves as winners from OPEC meeting

Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They’ll emerge as winners from the group’s rift over production. More »

Aker Solutions wins BP contract for work offshore Norway

Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway. More »

Aker Solutions wins Norway contract from BP

Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway. More »

Oil falls as U.S. supplies weighed against drilling decline

Oil fell in New York for the first time this week as the U.S. supply glut weighs on prices after crude inventories rose for a ninth week. More »

Katalyst Data Management enters Australia, awarded major seismic data project

Mere months since their market entry into the Asia-Pacific, Katalyst Data Management, through its Australian subsidiary KDM SpectrumData, has taken on a major oil and gas seismic data management project for the Geological Survey of Queensland and the Department of Natural Resources and Mines in Australia. More »

eDrilling opens new office in Singapore

eDrilling, a provider of drilling and well performance solutions, has announced the opening of a wholly owned subsidiary, eDrilling APAC, Inc., in Singapore. More »

Lundin’s Selada wildcat disappoints offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has completed the Selada-1 exploration well in Block PM308A, offshore Malaysia. More »

Canadian Oil Sands seeks white knight as Suncor closes in on bid

Suncor Energy Inc.’s battle for Canadian Oil Sands Ltd. is getting more crowded. More »

Lundin drills duster at Selada exploration well offshore Malaysia

Lundin Petroleum’s wholly owned subsidiary, Lundin Malaysia BV, has completed the Selada-1 exploration well in Block PM308A, offshore Malaysia. More »

Wood Group wins $90 million contract in Iraq

Wood Group has won a new contract worth approximately $90 million to deliver services to one of the blue-chip international oil companies (IOC) in Iraq. More »

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum Ltd. has announced a successful bid in the third Hungarian bid round for the Püspökladány Block (Block "P") within the Pannonian basin in north eastern Hungary. More »

Katalyst Data Management enters Australia, awarded major oil and gas seismic data project

Mere months since their market entry into the Asia-Pacific, Katalyst Data Management, through its Australian subsidiary KDM SpectrumData, has taken on a major oil and gas seismic data management project for the Geological Survey of Queensland and the Department of Natural Resources and Mines in Australia. More »

eDrilling opens office in APAC

eDrilling has opened a wholly owned subsidiary, eDrilling APAC, Inc, in Singapore. More »

Aberdeen-based IMES invests in inspection technology

IMES has invested $75,387 (£50,000) in new technology, expanding its existing service offering for clients in the oil and gas industry. More »

Wärtsilä Ship Design to supply design for offshore vessel conversion

Dutch ship owner C-Bed has contracted Wärtsilä Ship Design to supply the design for rebuilding its Seismic Survey Vessel, the 'Viking II', for use as a hotel vessel. More »

U.S. drillers idle 13 more rigs: Baker Hughes

HOUSTON – Drillers in the U.S. idled 13 more rigs this week, according to the latest data released by Baker Hughes in advance of the Thanksgiving holiday. According to the service provider, the number of oil-directed rigs has now fallen for 12 of the past 13 weeks. More »

Oil declines after U.S. crude stockpiles advance in ninth week

Oil retreated after a government report showed that U.S. crude, gasoline and distillate fuel stockpiles increased. More »

Crude storage tanks nearing their brim spur ‘super contango’

Surging U.S. crude stockpiles that have filled storage tanks near capacity are widening the discount on immediate oil deliveries. More »

Cortec helps aging oil and gas structures in the Middle East

As oil and gas facilities in the Middle East are aging and approaching their anticipated design life, operators are asking whether the end is really near, and whether a new lease on life is possible. More »

Wild Well enhances advanced well control capabilities in Asia-Pacific

Wild Well Control Inc., a Superior Energy Services company and a global leader in well control, greatly enhances its presence in the Asia-Pacific region this month with the addition of vital, permanent personnel to offer advanced well control engineering capabilities at an unprecedented pace. More »

Russia halts natural gas supplies to Ukraine as payments end

Russia halted natural gas supplies to Ukraine after its western neighbor said it wouldn’t buy more this year amid ample supply. More »

Penspen awarded engineering study for the development of offshore field in Nigeria

Penspen, a leading global provider of engineering and management services to the energy industry, has been awarded a contract from Sirius Group to conduct an engineering study for the monetiZation of gas reserves from oilfields offshore Niger Delta. More »

Equatorial Guinea's National Gas Company opens negotiations for LPG purchase

The Ministry of Mines, Industry and Energy of Equatorial Guinea has announced that national gas company SONAGAS will begin marketing the State’s share of liquefied petroleum gas (LPG) produced at the Alba Plant, on Bioko Island. More »

DNV GL study calls for technology improvements to reduce costs for Barents Sea developments

OG21 has received the DNV GL study of technologies that should be developed for year-round oil and gas production at 74 degrees North in the Norwegian Barents Sea. More »

qedi wins commissioning contract from Apache North Sea

qedi, Amec Foster Wheeler's completions and commissioning provider, has been awarded a commissioning contract from Apache North Sea for the brownfield modifications on all their North Sea assets. More »

Eni’s Zohr find no barrier as Israel starts Egypt gas export talks

Israel’s natural gas companies have started talks about exporting gas to Egypt, three months after the largest ever natural gas discovery in Mediterranean waters seemed to threaten regional sales. More »

Ecopetrol names new executive V.P.

Ecopetrol's board of directors has elected Felipe Bayon Pardo as the new executive V.P. of the company. More »

BG starts commercial operations from second train at Queensland Curtis LNG

BG Group announced Wednesday that commercial operations have begun from the second train at its Queensland Curtis LNG (QCLNG) plant. QGC, BG Group's Australian subsidiary, has also assumed control of Train 2 from Bechtel Australia, which built the facility. More »

China oil giants seek asset sales as clock ticks to year-end

China’s biggest energy companies are seeking to unload assets and urging workers to cut costs in a last- minute rush to meet annual government-set growth targets as lower crude prices drag down earnings. More »

Ophir Energy said to receive merger interest amid oil slump

Ophir Energy Plc, the U.K. oil and gas explorer active in Africa, has received informal takeover and merger interest from several parties as a slump in crude oil prices forces independent operators to consolidate, according to people with knowledge of the matter. More »

Mexico reaps record $6.4 billion in oil hedge win, minister says

Mexico is reaping record financial returns from its oil hedge this year. More »

Introducing the new OPEC member that likes lower oil prices

After defending the interests of oil- exporting nations for five decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps. More »

U.S. Water strengthens presence in southeastern United States with acquisition

ST. MICHAEL, Minnesota – U.S. Water, an ALLETE company, has announced the acquisition of A and W Technologies. More »

University of Houston’s petroleum engineering program marks major milestone

The University of Houston’s petroleum engineering program—started in 2009 with just 20 undergraduate students—has been elevated to a full department within the UH Cullen College of Engineering. More »

Egypt’s Zohr gas field could boost other east Mediterranean projects: GlobalData

With the giant Zohr gas field in Egypt expected to come online by 2018, and President Abdel Fattah Al-Sisi agreeing to remove any political obstacles to Eni commercializing the field, the stage is being set for a wider regional development plan catalyzing other projects in the east Mediterranean, according to GlobalData. More »

New well confirms deepwater oil find in Potiguar basin's Pitu area: Petrobras

An extension well has confirmed the presence of oil in the Pitu area, Petrobras announced. The discovery of this accumulation in the deep waters of the Potiguar basin was first announced on Dec. 17, 2013. More »

Repsol reports record production in Bolivia

Repsol chairman, Antonio Brufau, and the president of Bolivia, Evo Morales, have announced the conclusion of the third phase of the Margarita-Huacaya project, the field with the largest production in the history of Bolivia. More »

Electric fault curbs Alvheim FPSO production capacity

More »

Vaca Muerta shale to double production by 2018, Wood Mac says

Production from Latin America's premier shale play, the Vaca Muerta, is expected to double by 2018 according to a new development study by Wood Mackenzie. Argentina's massive play continues to be the most prospective tight oil play outside of North America. More »

Rockhopper Exploration to buy Falkland Oil in $87-million deal

More »

Grandweld delivers dive maintenance and support vessel to ADNOC

Grandweld, one of United Arab Emirates leading shipyards, has delivered one dive maintenance and support vessel to Abu Dhabi National Oil Company (ADNOC). More »

Pennsylvania fines Chesapeake Appalachia $1.4 million over well pad landslide

Pennsylvania’s Department of Environmental Protection announced Monday that Chesapeake Appalachia, LLC has agreed to a Consent Order and Agreement and will pay a fine of $1.4 million for violations of Pennsylvania's Oil and Gas Act, Clean Streams Law and Dam Safety and Encroachments Act. More »

Lundin spuds Barents Sea exploration well on Ørnen prospect

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has started drilling exploration well 7130/4-1 on the Ørnen prospect. More »

OPEC seen holding the line as $40 crude looms over Vienna

It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna. More »

Seadrill turns to loss on $1.8-billion writedown in oil rout

Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, reported its first quarterly loss since 2011 as a collapse in oil prices reduced demand for its rigs. More »

U.S. Steel idles Granite City operations as oil price downturn drags on

United States Steel Corporation is to temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill., the company announced Monday. More »

Unique Group expands into Saudi Arabia

Unique Group, an integrated subsea and offshore solution provider, is making its first move into the Kingdom of Saudi Arabia with the opening of two new facilities in Riyadh and Dammam. More »

Resolute Energy Corp. to sell Gardendale assets in Midland basin

Resolute Energy Corporation announced today that it has entered into a definitive agreement to sell its Gardendale assets in the Midland basin of West Texas to an undisclosed buyer for a purchase price of $177.5 million. More »

Statoil receives consent for exploration drilling in the North Sea

The PSA has now granted Statoil consent for exploration drilling. More »

TGS' broadband reprocessing of 2D seismic covering the entire offshore Portuguese shelf

TGS has announced the broadband reprocessing of 22,847 km 2D seismic offshore Portugal. This project, which utilizes TGS' broadband solution Clari-Fi, is now fully underway. More »

Oil-sands chases carbon technology fix as Canada fights bad rap

Canada’s oil sands are about to be put on a carbon diet as the country strives to overcome the “dirty oil” label used by President Barack Obama in rejecting the Keystone XL pipeline. More »

Plugging of wells can prevent value creation

Re-using wells on the Norwegian shelf can be good business. This is why the Norwegian Petroleum Directorate (NPD) is sceptical of the proposal to plug wells as a measure to keep drilling rigs in activity. More »

Noble and BG agree to partnership in Block 12, offshore Cyprus

Noble Energy, Inc., announced today a farm-out agreement for a portion of its interest in Block 12 offshore Cyprus with BG International. More »

Oil resumes fall as Saudi Arabia repeats readiness to cooperate

Oil fell after briefly climbing on Saudi Arabia’s repeated pledge to work with OPEC and other producers to stabilize global oil markets. More »

Oil bulls see little chance of help from OPEC as supply grows

Hedge funds are betting OPEC won’t do anything next month to keep crude oil above $40/bbl. More »

Norway offshore fleet faces more pain as 100 vessels stacked

The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are far from over, the industry’s top lobbyist said. More »

DNV GL conducts largest ever release of CO2 from an underwater pipeline

To fully understand the environmental and safety implications associated with the development of CO2 pipelines, DNV GL is conducting the oil and gas industry’s largest ever controlled release of carbon dioxide from an underwater pipeline. More »

Oil sands companies demonstrate leadership on climate change

Four of Canada's largest oil sands producers have come together to demonstrate leadership on climate change. More »

Oil declines as Venezuela sees mid-$20 crude on OPEC inaction

Oil extended its decline as Venezuela predicted prices may drop to as low as the mid-$20s/bbl unless OPEC takes action to stabilize the market. More »

Global oil job cuts top quarter-million as rigs at five-year low

The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves and Co. More »

Crude rebounds as U.S. oil rig count declines to five-year low

Crude rose after the number of active U.S. oil rigs dropped to a five-year low and as European Central Bank President Mario Draghi hinted at additional stimulus. More »

NuTech Energy acquires Emerald Operating and Rocky Mountain Exploration

NuTech Energy Resources, Inc., a natural gas and oil exploration and development company, is pleased to announce that the Company has entered into an agreement to acquire wells from Emerald Operating Company and Rocky Mountain Exploration, Inc. More »

Ophir completes wildcat exploration in Gulf of Thailand

Ophir Energy plc has completed operations on the G4/50-11 wildcat exploration in the South Western Graben of the Gulf of Thailand. More »

Africa oil boom fades as $50 crude shuts door on high-cost deals

Oil below $50 has made more than two out of three investment projects on the continent non-viable. More »

Falling oil prices fail to deter European energy stock bulls

The cost-cutting campaign among European energy companies is paying off: Investors are buying up their shares even as oil prices drop. More »

Murkowski welcomes approval of U.S.-Mexico oil exchange license

U.S. Sen. Lisa Murkowski (R – Alaska) has applauded the U.S. Department of Commerce’s confirmation that the agency did in fact issue a cross-border oil exchange license with Mexico. More »

Canada plans pipeline review changes

Canada plans to outline changes to pipeline reviews in the coming weeks and months as the Liberal government seeks to restore confidence in its regulators. More »

Shell confirms major deepwater Gulf of Mexico discovery

Shell completed the drilling and appraisal of Kaikias ahead of schedule and under budget, allowing the company to achieve more than 20% in cost savings. More »

ITT’s C’treat brand bags contract for Shell's Appomattox development

ITT Corporation has announced today that its C’treat brand has been awarded a contract from Shell Offshore Inc. More »

BOEM names Celata as regional director for the Gulf of Mexico regional office

Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper has named Mike Celata as the regional director for the Gulf of Mexico Outer Continental Shelf (OCS) Region. More »

API, ANGA to combine into single trade association

Following approval of both boards of directors, the American Petroleum Institute and America's Natural Gas Alliance announced the two organizations will combine into a single trade association, effective Jan. 1, 2016. The combined association will continue ANGA's mission under API. More »

Costain saves operator millions in North Sea exploration project

UK engineering solutions provider Costain has been instrumental in helping Ithaca Energy save millions, thanks to its sound management of subsea contracts in the operator’s Greater Stella Area (GSA) Development in the central North Sea. More »

Polarcus awarded broadband project offshore Egypt

Polarcus has signed a contract with an undisclosed client for a 3D marine seismic project offshore Egypt. More »

Shell-BG merger receives Australian antitrust clearance

Royal Dutch Shell’s acquisition of BG Group has received unconditional merger clearance from the Australian Competition and Consumer Commission (ACCC). More »

OMV Norway signs 3-year frame agreement with Aptomar

OMV Norway has signed a three-year frame agreement with Aptomar to deliver its integrated field monitoring services for the operator’s future drilling activities. More »

Norway oil producers seek more deals after $2 billion flurry

More than a year after oil prices started their biggest descent since the financial crisis, sellers and buyers of oil and gas assets in Norway are finally starting to see eye to eye. More »

OPEC with others to stabilize market, Saudi oil minister says

Saudi Arabia is working with other OPEC members and producers from outside the group to stabilize the market, Saudi Oil Minister Ali al-Naimi said. More »

Dresser-Rand business receives order for small-scale distributed production of LNG

The Dresser-Rand business, within Siemens Power and Gas, has recently received an order from Elizabethtown Gas, a subsidiary of AGL Resources based in Elizabeth, New Jersey, for two LNGo natural gas liquefaction systems. More »

ITT’s C’treat brand bags contract from Shell Offshore

ITT Corporation has announced today that its C’treat brand has been awarded a contract from Shell Offshore Inc. More »

Freudenberg Oil and Gas Technologies’ Materials Development Lab achieves additional accreditation

Freudenberg Oil and Gas Technologies’ Materials Development and Product Testing Lab facility recently achieved the International Standard ISO/IEC 17025:2005 accreditation for testing and calibration laboratories. More »

Marathon Oil‘s Michael J. Stover -V.P. of Operations Services to retire

Marathon Oil Corporation has announced today that Michael J. Stover, currently V.P. of Operations Services, has elected to retire effective Nov. 30 following nearly 30 years of service. More »

Petro Waste Environmental acquires landfill permit

San Antonio-based Petro Waste Environmental LP (PWE) today announced the Railroad Commission of Texas (RRC) has issued the company its first permit to operate a non-hazardous oil and gas waste landfill in Howard County. More »

Saddlehorn and Grand Mesa to combine pipeline projects

Saddlehorn Pipeline Company, LLC, announced today that it is combining projects with Grand Mesa Pipeline, LLC, for the construction of a 20-in. undivided joint interest pipeline. More »

OPEC menaced by U.S. shale hits Canada harder in price fight

OPEC took a swing at U.S. shale and knocked down Canada. More »

Decom North Sea, Oil and Gas UK to collaborate on North Sea decommissioning

UK offshore oil and gas industry trade bodies Oil and Gas UK and Decom North Sea are to align on key areas to deliver a more efficient and effective decommissioning agenda for the North Sea. More »

Oil recovers from two-month low on report of U.S. supply decline

Oil rose from the lowest close in more than two months as U.S. industry data showed crude supplies fell in the world’s biggest consumer. More »

Claxton, LR Senergy form alliance to offer full decommissioning service

Claxton Engineering Services, an Acteon company, has formed a collaborative alliance with energy services firm LR Senergy to provide clients with a fully managed, technically proficient end-to-end offshore rig-based decommissioning service. More »

RSP Permian announces closing of Midland basin acquisition

RSP Permian has closed its acquisition of undeveloped acreage and oil and gas producing properties in the Midland basin for a purchase price of approximately $137 million, the company said Wednesday. More »

DNV GL helps the petroleum industry to cut emissions

The amount of climate gases emitted per produced unit is increasing, despite efforts over many years to make oil and gas production more efficient. More »

UK North Sea decommissioning costs set to rise: Oil and Gas UK

The cost of dismantling oil production facilities in the UK North Sea over the next decade will be higher than previously forecast as more fields are scheduled to halt production, according to a group representing the British industry. More »

ITF’s GCC members agree to advance hybrid EOR proposals

More »

EuroROV chooses Forum Sub-Atlantic as preferred ROV supplier

EuroROV, the Spanish ROV training and engineering company, has taken delivery of a Forum Sub-Atlantic Mojave vehicle for its newly-launched ROV pilot training facility. More »

U.S. energy exports critical to strengthening security in Asia-Pacific: ACCF

More than 40 thought-leaders and Hill staff filled the historic Kennedy Caucus Room of the Russell Senate Office Building on Tuesday morning for an hour-long discussion on U.S. energy policy which concentrated mostly on the decades-long ban on exporting domestic crude oil. More »

Takeover of Simmons ends 41-year run for ‘peak oil’ dealmaker

The takeover of Simmons and Co. by Piper Jaffray Cos. marks the end of an energy industry dealmaker founded by one of the leading champions of the “peak oil” theory, Matthew R. Simmons. More »

Schlumberger-Cameron merger gets nod from U.S. Justice Department

Schlumberger Limited and Cameron International Corporation have jointly announced today that the U.S. Department of Justice has cleared their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger. More »

Dutch court rules gas output from EU’s biggest field be cut

A Dutch court Wednesday ruled that natural gas extraction from Europe’s largest deposit should be cut by another 18% as local residents sought to stop tremor-inducing production that’s damaging their houses. More »

Suncor plans higher spending of up to $5.5 billion next year

Suncor Energy Inc., Canada’s largest crude producer, plans to boost capital spending to as much as C$7.3 billion ($5.5 billion) next year to expand operations and increase efficiency. More »

Schlumberger-Cameron merger receives unconditional clearance from U.S. Department of Justice

Schlumberger Limited and Cameron International Corporation have jointly announced today that the U.S. Department of Justice has cleared their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger. More »

U.S. Energy exports critical to strengthening security in Asia-Pacific

More than 40 thought-leaders and Hill staff filled the historic Kennedy Caucus Room of the Russell Senate Office Building on Tuesday morning for an hour-long discussion on U.S. energy policy which concentrated mostly on the decades-long ban on exporting domestic crude oil. More »

ExxonMobil Foundation gives nearly $2 million to Texas AandM University

The ExxonMobil Foundation presented a $1.9 million check to the Texas AandM Foundation on Nov. 13 at an event on campus at the Jon L. Hagler Center. More »

CIS drives Subsea Piles in 160 minutes on Alvheim development

Conductor Installation Services Ltd. (CIS), an Acteon company, has successfully completed its second subsea piling campaign for Technip in Norway. More »

API urges leaders to model climate solutions on America's market-driven success

API urged leaders to use the proven results of America's market-driven model for addressing climate challenges during an upcoming conference in Paris. More »

Gardner Denver expands capabilities in Permian basin with new regional repair center

Gardner Denverʼs Petroleum and Industrial Pumps Division recently opened a 70,000 sq ft regional repair center in Odessa, Texas. More »

Saudi Aramco selects AUMA for Al Wasit Gas contract

Approved Saudi Aramco vendor status, strong technical support and strength in after-sales service were key reasons for the selection of AUMA valve control devices at the Al Wasit Gas Program, Saudi Aramco’s development scheme for the Arabiyah and Hasbah offshore Saudi Arabian gas fields located in the Arabian Gulf. More »

Statoil exits Alaska following exploration results in neighboring leases

The leases in the Chukchi Sea are no longer considered competitive within Statoil’s global portfolio, so the decision has been made to exit the leases and close the office in Anchorage, Alaska. More »

OPEC said to delay long-term strategy amid rift over production

OPEC’s board of governors was unable to agree on the group’s long-term strategy plan and won’t present it to oil ministers when they meet on Dec. 4 in Vienna, two OPEC delegates with knowledge of the matter said. More »

Russia resolves to make most of Soviet oil as new finds wane

Russia plans to squeeze all the oil it can from Soviet-era discoveries to hold crude output stable for the next two decades as new finds are delayed by sanctions and slumping prices, according to the Energy Ministry. More »

Mexico planning to join IEA

Mexican Secretary of Energy Pedro Joaquín Coldwell has presented International Energy Agency (IEA) Executive Director Fatih Birol with an official letter declaring Mexico’s interest in becoming an IEA member. More »

CIS drives subsea piles in 160 minutes on Alvheim development

Conductor Installation Services (CIS), an Acteon company that provides hammer services to install conductors and drive piles, has successfully completed its second subsea piling campaign for Technip in Norway. More »

Austin-based RigUp joins the OFS Portal community of networks

OFS Portal announced Monday that RigUp, Inc. has joined the OFS Portal community. RigUp is a leading marketplace for oilfield services built and designed specifically for the North American upstream industry. More »

Cambla secures first decommissioning contract wins

International project services consultancy, Cambla, heralds its move into the decommissioning sector, having been awarded contracts with two major operators. More »

BG Group joins World Bank initiative on carbon pricing

BG Group has joined the World Bank Carbon Pricing Leadership Coalition (CPLC), an initiative which brings together over 85 governments, corporate and civil society organizations to collaborate on carbon pricing systems and policies. More »

TGS to cut 16% of workforce, write down multi-client data as slump drags on

In order to further improve organizational efficiency and competitiveness, TGS is implementing a new global cost reduction and efficiency plan, the company said Tuesday. More »

Tullow wildcat disappoints in Kenya

Tullow Oil announced Tuesday that the Emesek-1 exploration well, in Block 13T in the North Lokichar basin, Northern Kenya, reached a total depth of 3,000 m without encountering commercial hydrocarbons. More »

Oil approaching $40 deepens investor pessimism on recovery

Hedge funds have turned more pessimistic on oil as prices flirted with $40/bbl for the first time since August. More »

Oil tycoon Pickens’ energy holdings slump as downturn drags on

Oil tycoon T. Boone Pickens reversed course in the third-quarter by slimming down his energy holdings and selling several companies he’d bought just three months earlier as the worst crude market downturn in decades drags on. More »

North Dakota’s Bakken pumps less oil for first time in decade

The shale boom in North Dakota has softened to a whisper. More »

BP’s drilling plan offshore Australia turned back by regulator

BP Plc will need to revise its plan to explore for oil in an untapped frontier off the coast of southern Australia before regulators will approve its drilling program estimated to cost more than A$1 billion ($710 million). More »

Enbridge cuts 5% of workforce to cope with oil downturn

Enbridge Inc., Canada’s largest pipeline operator, said it’s reducing its workforce by 5% to cope with the downturn in the oil industry. More »

Schlumberger acquires Fluid Inclusion Technologies, Inc.

Schlumberger today announced the acquisition of Fluid Inclusion Technologies, Inc. (FIT), a US-based oil and gas service company specializing in laboratory analysis of trapped fluids in rock material, and advanced borehole gas analysis on drilling wells. More »

Apache, Anadarko golden parachutes offer less incentive to sell

Apache Corp. and Anadarko Petroleum Corp., two exploration businesses that may find themselves as targets in an industry consolidation, are run by chief executives with smaller golden parachutes than similar-sized oil and gas companies. More »

HKN Energy receives approval of Sarsang Development Plan from Kurdistan

HKN Energy Ltd. announced Monday that the Kurdistan Regional Government of Iraq (KRG) has formally approved its Sarsang Development Plan, which projects increasing production to 50,000 bopd. Additionally, HKN has also declared that the East Swara Tika-1 well, drilled adjacent to the Swara Tika structure, is commercial. More »

Ensco promotes Jon Baksht to CFO as Swent set to retire

Ensco announced Monday that Jon Baksht has been named as the company’s new CFO. He will be based in London and succeeds Jay Swent, who is retiring at the end of the year. More »

BG Group and partners to invest A$1.7 billion in Australian gas expansion

QGC Pty Limited, along with joint venture partners China National Offshore Oil Corporation and Tokyo Gas, has announced a two-year, A$1.7 billion development of its natural gas tenements west of Wandoan, Australia, to support gas production. More »

Warren Resources names James A. Watt as president and CEO

Warren Resources announced Monday that, effective immediately, the board of directors has appointed James A. Watt as president and CEO of the company. More »

Falck Safety Services secures IMIST accreditation in U.S.

Access to a ground-breaking global training initiative, which aims to transform safety and competency in the oil and gas industry, continues to expand with the approval of five new invigilation centers in the U.S. More »

Exxon Mobil announces retirement of Ken Cohen as V.P. of public and government affairs

Ken Cohen, Exxon Mobil’s V.P. of public and government affairs, has announced his intention to retire effective Jan. 1, 2016, after more than 38 years of service. More »

Greater Lafourche Port Commission wins national environment award

At its regular board meeting, the Greater Lafourche Port Commission showcased its latest national award for environmental restoration and recognized Nicholls State University as a valuable partner on the award-winning project. More »

Saudi Aramco, Hyundai Heavy Industries collaborate on new business opportunities

Saudi Aramco and Hyundai Heavy Industries (HHI) Group have signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. More »

$38 million awarded to study effects of oil on Gulf of Mexico

The Gulf of Mexico Research Initiative (GoMRI) Research Board will award nearly $38 million to individuals and teams studying the effects of oil on the Gulf of Mexico ecosystem and public health. A total of 22 research proposals are being funded under this most recent GoMRI program. More »

Oil producers hungry for deals drool over Permian basin

The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals. More »

Oil theft soars as downturn casts U.S. roughnecks out of work

The moon was a waning crescent sliver Sept. 9 when a man emerged from an oil tanker, sidled up to a well outside Cotulla, Texas, and siphoned off almost 200 bbl. More »

Premier Oil sells Norwegian business to Det norske for $120 million

Premier Oil has agreed to sell Premier Oil Norge AS, which comprises all of the company's Norwegian assets, to Det norske oljeselskap for a cash consideration of $120 million. More »

Norwegian regulators grants green light for production start-up on Edvard Grieg

The Norwegian Petroleum Directorate has granted consent to start production on the Lundin Norway-operated Edvard Grieg field in production license 338 in the North Sea. More »

Premier Oil sells its Norwegian business to Det norske for $120 million

Premier Oil has agreed to sell Premier Oil Norge AS (PONAS) which comprises all its Norwegian assets, to Det norske oljeselskap for a cash consideration of $120 million. More »

Lundin to initiate production at Edvard Grieg field in North Sea

The Norwegian Petroleum Directorate (NPD) has granted consent to start production on the Lundin Norway-operated Edvard Grieg field in production license 338 in the North Sea. More »

Port Commission wins national environment award, partnership with NSU recognizedC

At its regular board meeting, the Greater Lafourche Port Commission showcased its latest national award for environmental restoration and recognized Nicholls State University as a valuable partner on the award-winning project. More »

Saudi Aramco and Hyundai Heavy Industries collaborate on new business opportunities

Saudi Aramco and Hyundai Heavy Industries (HHI) Group have signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. More »

$38 million awarded to study effects of oil on Gulf of Mexico: GoMRI

The Gulf of Mexico Research Initiative (GoMRI) Research Board will award nearly $38 million to individuals and teams studying the effects of oil on the Gulf of Mexico ecosystem and public health. A total of 22 research proposals are being funded under this most recent GoMRI program. More »

Oil trades near two-month low as drillers return rigs amid glut

Oil traded near the lowest close in more than two months amid speculation a global glut will be prolonged as U.S. drillers put rigs back to work in the world’s biggest consumer. More »

Chesapeake lenders flee debt as oil rout pummels reserves value

Chesapeake Energy Corp.’s bonds have plunged to half their face value as lenders fret that tumbling energy prices are hurting their chances of getting paid on borrowings that are three times the current worth of the company’s oil and gas fields. More »

Oil rigs said touted to debt funds by Norwegian investment banks

Pareto Securities AS is among banks targeting debt funds and private-equity firms to buy oil rigs at firesale prices to hold until demand for offshore-drilling rebounds, according to people familiar with the matter. More »

API board elects Ryan Lance as chair, Greg Garland as finance chair

ConocoPhillips Chairman and CEO Ryan Lance has been elected chairman of API’s board of directors effective Jan. 1, 2016. Phillips 66 Chairman and CEO Greg Garland has been elected chair of the Finance Committee. More »

Encana completes sale of Haynesville natural gas assets

Encana Oil and Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has completed the sale of its Haynesville natural gas assets, located in northern Louisiana. More »

Polarcus completes the largest 3D multi-client seismic survey in Australia

The Capreolus 3D multi-client project, the largest single 3D seismic survey ever acquired offshore Australia was recently completed ahead of schedule after a successful 11-month acquisition campaign, Polarcus said Friday. More »

Lundin spuds exploration well on Lorry prospect, offshore Norway

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has commenced drilling exploration well 6407/10-4, offshore Norway. More »

M-I SWACO lodges planning application for new barite mine in Scotland

A planning application to develop a world-class barite resource at Duntanlich, north of Aberfeldy, Scotland, has been lodged with Perth and Kinross Council by oilfield services company, M-I SWACO. More »

Statoil tops $969 million of bids pledged for Canada offshore

Statoil ASA was the most active bidder for exploration licenses off Canada’s Atlantic Coast awarded Thursday as some of the world’s largest producers committed to spend about C$1.29 billion ($969 million) for the prospect of long-term growth. More »

IEA says record 3 Bbbl stocks may weaken prices

Oil stockpiles have swollen to a record of almost 3 Bbbl because of strong production in OPEC and elsewhere, potentially deepening the rout in prices, according to the International Energy Agency. More »

Weatherford and Maersk Training partner to enhance critical well preparation

Weatherford Secure Drilling Services and Maersk Training have entered a strategic partnership to enhance scenario-based training and competency for critical wells. More »

Veteran oil man Robert Osborne elected vice chairman of Texas Alliance

The board of directors of the Texas Alliance of Energy Producers has elected Robert W. Osborne to the position of vice chairman. Vice chairman is the second highest elected position in the Alliance. More »

Collaboration pivotal to technological innovation: Schneider Electric

Lower oil prices and increasingly challenging oil and gas fields have prompted energy companies in the Middle East and beyond to reconsider disruptive technologies to trim their expenditure, according to Schneider Electric, the biggest maker of low- and medium-voltage equipment. More »

LNG construction sector hits its peak and faces steep fall: Wood Mac

More »

Alaska is the West Coast’s Energy Reserve: Sen. Murkowski

U.S. Sen. Lisa Murkowski (R – Alaska) has cautioned against making arbitrary sales of crude oil from the Strategic Petroleum Reserve (SPR) to pay for unrelated legislative initiatives, and highlighted the potential benefits to the nation if the administration allowed Alaska to realize its true energy potential. More »

Kosmos Energy makes second major gas discovery offshore Mauritania

Kosmos Energy announced Thursday that the Marsouin-1 exploration well, in the northern part of Block C-8, offshore Mauritania, has made a significant, play-extending gas discovery. More »

Well integrity specialist READ wins multi-million-dollar contract from Maersk

Aberdeen-based production and integrity evaluation specialist READ Cased Hole (READ), has been awarded a multi-million-dollar contract by Danish energy giant, Maersk Olie og Gas A/S. More »

Subsea 7, Premier Oil sign partnership frame agreement

Subsea 7 has signed a long-term partnership frame agreement with Premier Oil to provide concept engineering, FEED, SURF project execution and life of field operations, on a preferred supplier basis. More »

Apache snub of Anadarko approach puts both explorers in play

Apache Corp.’s rejection of a takeover offer from Anadarko Petroleum Corp. leaves both energy explorers vulnerable to acquisition. More »

OPEC says oil-inventory surplus is biggest in at least a decade

Surplus oil inventories are at the highest level in at least a decade because of increased global production, according to the Organization of Petroleum Exporting Countries. More »

Repsol earnings miss estimates after crude oil prices tumble

Repsol SA reported a 62% decline in third-quarter earnings as lower crude prices countered improved refining performance. The shares slumped the most in two weeks. More »

Russia’s oil rivalry with Saudis masks the bigger Iranian threat

Competition is growing in Russia’s biggest oil market. While Saudi Arabia’s encroachment in Europe is getting all the attention, the biggest threat comes from another part of the Middle East -- Iran. More »

Major oil companies have half-trillion dollars to fund takeovers

The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers. More »

Baker Hughes, Shell announce release of first software application from co-development agreement

Baker Hughes and Shell have announced the commercial release of the Baker Hughes JewelSuite 6 Subsurface Modeling software application for geological modeling and reservoir engineering. More »

Anadarko withdraws Apache Corp. bid after rejection

Anadarko Petroleum has withdrawn its bid for Apache Corp., Al Walker, Anadarko’s chairman, president and CEO, said in a statement Wednesday. More »

Tullow trims annual target for West African oil output

Tullow Oil Plc cut the upper end of its 2015 forecast for West African oil output after being unable to account for production at a field in Gabon during the first half. More »

Anadarko withdraws Apache Corp. bid

Anadarko Petroleum has withdrawn its bid for Apache Corp., Al Walker, Anadarko’s chairman, president and CEO, said in a statement Tuesday. More »

New industry publications promote efficient decommissioning

Oil and Gas UK has published two documents to help operators and contractors plan and execute decommissioning activities more efficiently. More »

EMGS names Christiaan A. Vermeijden as new CEO

Electromagnetic Geoservices (EMGS) has appointed Christiaan A. Vermeijden as the company's new CEO. More »

OPEC said to consider new output ceiling as Indonesia joins

The Organization of Petroleum Exporting Countries is considering raising its official production target at its next meeting on Dec. 4 to take into account new member Indonesia, according to two OPEC delegates. More »

Collaboration is key to tackling Middle East's ageing structures challenge: DNV GL

More »

Gas-gushing wells have stockpiles swelling to record in the U.S.

U.S. natural gas drillers facing the lowest seasonal prices in two decades are trying to cut back supplies. The only problem: They’re too good at their jobs. More »

OPEC challenges shale afresh as Iraq crude floods Gulf of Mexico

OPEC’s latest challenge to U.S. shale oil producers would be about two miles long, lined end to end, and weigh almost 3 million metric tons. It’s due to reach American ports this month. More »

IPAA elects chairman and vice chairman

At its 86th annual meeting today, the Independent Petroleum Association of America (IPAA) board of directors elected Mark Miller as IPAA’s 41st chairman of the board and Stephen Jones as vice chairman for the 2015-2017 term. More »

Bollinger announces addition to team

Bollinger Shipyards has announced the addition of Joe Mayhall to its corporate sales and marketing team. More »

Anadarko said to have approached Apache with takeover offer

Anadarko Petroleum Corp. approached Apache Corp. about a combination that would be the largest for an independent U.S. oil and gas producer this year and would create an explorer that pumps more crude than OPEC member Ecuador. More »

Veteran diplomat confirms consensus view at IPAA on Saudi, oil prices

As director of Rice University’s Baker Institute for Public Policy, and a veteran diplomat who served in eight U.S. administrations, Edward Djerejian has a long track record of watching, analyzing and dealing with dozens of foreign dignitaries and tricky policy issues. More »

ADIPEC ’15: Weatherford introduces Production Optimization Consulting

Weatherford International announced the official launch of its Production Optimization Consulting (POC) group at the Abu Dhabi International Petroleum Exhibition and Conference on Tuesday. More »

Upstream eCommerce activities on the rise as two additional networks join OFS portal

OFS Portal announced Tuesday that Anachron and Taulia have joined the OFS Portal community. Anachron and Taulia are both leading providers of digital bid and pricing management for field, office and supply chain management for the upstream oil and gas industry. More »

Wood Group Mustang appoints Kent McAllister to president, Offshore Business Unit

Wood Group Mustang has promoted Kent McAllister to the position of president, Offshore Business Unit. He was previously executive V.P. for the business unit. More »

ADIPEC 2015 Awards celebrate excellence, best practice and innovation

The winners of this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) Awards were announced on Monday evening. More »

VNG Norge strikes out near Njord field in the Norwegian Sea

VNG Norge AS, operator of production license 586, is in the process of completing the drilling of wildcat well 6406/12-5 S. The well was classified as dry. More »

Oil breakups reward investors who say they aren’t so hard to do

Investors who urged U.S. integrated oil companies to spin off their weaker refining arms got it right in an unexpected way. More »

Low oil prices should give no cause for complacency on energy security: IEA

An extended period of lower oil prices would benefit consumers but would trigger energy-security concerns by heightening reliance on a small number of low-cost producers, or risk a sharp rebound in price if investment falls short, says the International Energy Agency (IEA) in the 2015 edition of its flagship World Energy Outlook publication. More »

BP says oil firms submit Iraq contract changes as output slows

ABU DHABI (Bloomberg) -- International oil companies submitted proposals to Iraq to change their production contracts in the face of constraints on growth in the country’s output next year after the oil ministry asked for spending cuts amid low crude prices, according to BP Plc. More »

Oil supply outside OPEC to stagnate by 2020 in IEA forecast

Oil supply outside OPEC will cease growing by 2020 as spending cuts that started this year take their toll on the global industry, according to the International Energy Agency. More »

Suncor Energy purchases additional working interest in Fort Hills oil sands project

Suncor Energy has successfully closed the previously announced purchase of an additional 10% working interest in the Fort Hills oil sands project from Total EandP Canada Ltd. More »

Revolutionary technology nets deal with Statoil for start-up company

Darcy, sand control engineering provider, has signed a framework agreement with Statoil, to supply its unique hydraulic screen technology to the oil giant’s assets in the Norwegian Continental Shelf. More »

McDermott bags EPCI project offshore Qatar

McDermott International, Inc. has been awarded a large brownfield contract by RasGas Company Limited for the engineering, procurement, construction and installation (EPCI) of a flow assurance and looping project consisting of 74 miles of 6- and 8-inch pipeline and topside modifications, offshore Qatar. More »

IPAA members exude positive attitude despite low commodity prices

As they gathered for the opening reception of their annual meeting in New Orleans Sunday night, members of the Independent Petroleum Association of America (IPAA) were doing their best to take an optimistic attitude toward the year-long slump in oil and gas prices. More »

Marathon Oil sells majority of Gulf of Mexico assets for $205 million

Marathon Oil Corp. has signed an agreement for the sale of its operated producing properties in the greater Ewing Bank area and non-operated producing interests in Petronius and Neptune fields in the Gulf of Mexico for $205 million. More »

Schlumberger, Ikon Science sign joint software development agreement

Schlumberger and Ikon Science have announced an agreement to further develop the existing quantitative seismic interpretation capability in the Petrel EandP software platform. More »

Propel SSP proppant transport technology increases production 39% in six-well trial: Fairmount Santrol

Fairmount Santrol has reported a successful six-well field trial using its proprietary Propel SSP proppant transport technology. Initial 90-day oil production increased 39% compared with offset wells. More »

Husky achieves milestone with Madura Strait BD gas development

Husky Energy and its partners have achieved a significant milestone in advancing the Madura Strait BD gas-condensate field, offshore Indonesia, towards production. More »

Marathon Oil sells Gulf of Mexico assets for $205 million

Marathon Oil Corp. has signed an agreement for the sale of its operated producing properties in the greater Ewing Bank area and non-operated producing interests in Petronius and Neptune fields in the Gulf of Mexico for $205 million. More »

Saudi vice oil minister sees price surge after cutbacks

The scale of the global oil and gas industry’s spending cuts are making another surge in energy prices possible by diminishing future supply, Saudi Vice Minister of Petroleum and Mineral Resources Prince Abdulaziz bin Salman said. More »

Yergin joins OPEC in seeing oil market balanced as soon as 2016

Global demand for crude will bring more balance to the oil market as soon as next year, according to Pulitzer Prize-winning author and energy consultant Daniel Yergin and OPEC Secretary General Abdalla El-Badri. More »

Maersk Oil buys into exploration licenses in Kenya, Ethiopia

Maersk Oil has agreed to acquire half of Africa Oil Corp.’s shares in three onshore exploration licences in Kenya and a further two in Ethiopia. More »

Apache said to get takeover approach for $18-billion company

Apache Corp., the oil and natural gas company worth more than $18 billion, has received an unsolicited takeover approach, according to people familiar with the matter. More »

Tata Steel announces partnership with IDC in the Middle East

MUMBAI, India -- Tata Steel has strengthened its links in the Middle East through the formation of a partnership with International Development Company (IDC) in the region. More »

Hercules Offshore emerges from bankruptcy

Hercules Offshore has completed its financial restructuring and emerged from Chapter 11 bankruptcy, the company said Friday. Funding of the company's new $450-million senior secured credit facility has also been completed. More »

Lundin spuds Selada exploration well, offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has commenced drilling the Selada-1 exploration well in Block PM308A, offshore Malaysia. More »

Archer introduces next generation of cementing technology

Archer has launched a new generation of its Cflex technology, the Cflex MKII-F. More »

Peak launches SIMULTRA Retrievable Bridge Plug

Peak Well Systems has launched the SIMULTRA Retrievable Bridge Plug suitable for gas wells and other extremely challenging applications. More »

Shell launches Quest carbon capture and storage project

Shell has officially launched the Quest carbon capture and storage (CCS) project in Alberta, Canada, and the start of commercial operations there. More »

Current oil price to soon spur demand growth: Saudi oil minister

Oil demand will soon reflect the “attractiveness” of the current level of crude prices, and Asia will be a vital engine of economic expansion for decades, Saudi Oil Minister Ali al-Naimi said. OPEC’s chief joined him in seeing Asia as the main hub for growth. More »

Heavy oil still flows, despite Obama's Keystone XL rejection: Wood Mackenzie

Ironically, the rejection of Keystone XL could lead to higher CO2 emissions via more crude-by-rail, according to energy consultant Wood Mackenzie. More »

Heavy oil still flow, despite Obama's Keystone rejection: Wood Mackenzie

Ironically, the rejection of Keystone XL could lead to higher CO2 emissions via more crude-by-rail, according to energy consultant Wood Mackenzie. More »

Halliburton presses on with bond deal amid regulatory doubts over Baker Hughes deal

Halliburton Co. is plowing ahead with plans to sell $7.5 billion in bonds to finance its $34.6 billion takeover of Baker Hughes Inc., shrugging off concerns that the deal faces regulatory hurdles. More »

U.S. oil, gas exports key to more stable global energy markets: ACCF

The free trade of America's abundant energy resources would provide an invaluable opportunity for the U.S. to help strengthen and stabilize global energy markets, especially if China is engaged as a partner, according to a new policy brief released by the American Council for Capital Formation (ACCF). More »

Halliburton presses on with bond deal amid regulatory doubts over Baker Hughes deal

Halliburton Co. is plowing ahead with plans to sell $7.5 billion in bonds to finance its $34.6 billion takeover of Baker Hughes Inc., shrugging off concerns that the deal faces regulatory hurdles. More »

U.S. oil, gas exports key to more stable global energy markets

The free trade of America's abundant energy resources would provide an invaluable opportunity for the U.S. to help strengthen and stabilize global energy markets, especially if China is engaged as a partner, according to a new policy brief released by the American Council for Capital Formation (ACCF). More »

European Oil's $8 billion plan to pay investors and retain cash

In a record downturn for the oil industry, cash is everything to companies and dividends are everything to their investors. More »

TransCanada removes Quebec port from Energy East pipeline scope

TransCanada Corp. is removing a port in Quebec from the planned route of its Energy East oil pipeline, the company said in a statement. More »

Ashtead Technology secures underwater glider agreement

Ashtead Technology has secured a global asset management agreement with Blue Ocean Monitoring to store, maintain and supply underwater gliders for ocean data monitoring. More »

North Sea drilling method is industry first for Centrica

Centrica Energy Norway has just finished drilling a pilot hole for shallow gas on the Butch field in the North Sea. Instead of using a rig for the job, a well intervention vessel was chartered and coiled tubing drilling (CTD) was used. More »

LNG golden promise fading for Goldman on wave of oversupply

Liquefied natural gas is cheap, and according to Goldman Sachs Group Inc. it’s only going to get cheaper. More »

Kongsberg Maritime names new business manager for Offshore Production division

Kongsberg Maritime has appointed a new business manager for the Offshore Production division of its base in Aberdeen. More »

BP to accelerate development of Egypt's Atoll field

BP has signed a Heads of Agreement with the Egyptian Minister of Petroleum regarding the acceleration of the development of the recent Atoll gas discovery. More »

Low oil prices taking toll on exports from Western Canada: EDC

Alberta and Saskatchewan will have lower exports this year due to depressed oil prices but will rebound in 2016 through a partial price recovery and volume gains, according to a new global export forecast released by Export Development Canada. More »

Range Resources sells Nora assets in Virginia for $876 million

Range Resources has signed a definitive sales agreement to sell its Nora assets for a purchase price of $876 million. The properties encompass approximately 3,500 operated wells and approximately 460,000 net acres in the Nora/Haysi combined fields located primarily in southwestern Virginia. More »

Eni in new gas, condensate discovery offshore Congo

Eni has reported a new discovery of gas and condensates offshore Congo, in the Nkala Marine exploration prospect, in Block Marine XII, about 20 km from the coast and 3 km from the producing Nene Marine field. More »

Ichthys LNG project completes offshore pipelay

The INPEX-operated Ichthys LNG project has completed the offshore pipelay for its 890-km, 42-in. diameter gas-export pipeline, the Tokyo-based company announced Thursday. More »

CGG may sell assets after $1.07-billion loss in third quarter

CGG SA, the French oil field surveyor which last year rejected a takeover approach from Europe’s largest oil engineer Technip SA, plans to sell shares and assets after reporting a $1.07-billion loss in the third quarter. More »

Transocean profit tops estimates as tax relief offsets slump

Transocean Ltd. posted a better profit than analysts expected as the world’s largest offshore rig owner races to slash costs to cope with falling demand for deepwater oil drilling. Lower taxes helped. More »

More companies commit to increasing efficiency at Oil and Gas UK’s Share Fair

Oil and Gas UK, at its annual Share Fair in Aberdeen, has announced that more companies than ever are demonstrating their commitment to improving the efficiency of their business practices by achieving awards in the Supply Chain Code of Practice tiered compliance scheme. More »

Petroleum Development Oman, Glasspoint break ground on landmark solar plant, Miraah

Petroleum Development Oman (PDO) and GlassPoint Solar have broken ground on their landmark solar project ‘Miraah’. More »

TransCanada fails to convince U.S. to pause Keystone XL review

TransCanada Corp. failed in its attempt to pause the U.S. review of its Keystone XL pipeline, keeping the project where it started the week—unlikely to advance under the Obama administration. More »

Baker Hughes introduces FATHOM XT SUBSEA525 asphaltene inhibitor

Baker Hughes announced today the commercial release of its high-performance, low-dosage FATHOM XT SUBSEA525 inhibitor that helps control asphaltene deposition in deepwater wells, providing better flow assurance and reducing remediation costs by minimizing the risk of blockages in production lines and equipment. More »

Mexico casts wider net for oil buyers as U.S. interest wanes

Mexico isn’t breaking up with U.S. oil refiners, but it sure seems like it wants to see other people. More »

Baker Hughes introduces high-performance asphaltene inhibitor

Baker Hughes announced today the commercial release of its high-performance, low-dosage FATHOM XT SUBSEA525 inhibitor that helps control asphaltene deposition in deepwater wells, providing better flow assurance and reducing remediation costs by minimizing the risk of blockages in production lines and equipment. More »

Canadian drilling looks to have bottomed out as PSAC predicts slight drop in 2016

The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »

Tendeka wins contract to supply Autonomous ICD technology in Malaysia

Tendeka has signed a two-year agreement with SapuraKencana Energy Peninsula Malaysia Inc. (SKE) for the exclusive application of Tendeka’s FloSure Autonomous Inflow Control Device (AICD) valves. More »

Norway rig tender reveals 'desperate' drillers in price rout

An unusually high number of rigs are competing for a Det Norske Oljeselskap ASA drilling contract on the Alvheim oil field in the North Sea, an illustration of how companies are desperate for business as producers slash spending amid a crude-price slump. More »

Apache celebrates 40 years of production at North Sea’s Forties field

Apache Corp. announced a significant milestone at its Forties field in celebration of 40 years since oil was first produced from Forties Alpha and transported, via the Forties Pipeline System, to the onshore terminal at Cruden Bay, UK. More »

Statoil awards Johan Sverdrup accommodation rig contract to Jacktel

Statoil has awarded a contract to Jacktel AS, a wholly owned subsidiary of Master Marine AS, for the provision of accommodation services on Johan Sverdrup field. More »

Eni awarded exploration block offshore Mozambique

Eni, together with Statoil, Sasol and ENH, has been awarded the exploration and development rights for Block A5-A, following the 5th Competitive Mozambique Bid Round. More »

DNV GL issues new recommended practice on offshore fiber ropes

More »

Canadian drilling looks to have bottomed out as PSAC predicts only slight drop in 2016

The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »

Petrofac, Faroe and Eni Hewett collaborate to cut North Sea costs

Petrofac, Faroe Petroleum and Eni Hewett have established an innovative cost saving partnership to drive efficiencies and commercial synergies across their UK operations in the Southern North Sea. More »

Increasing efficiency is key to success in Middle East, says Amec Foster Wheeler

Increasing operational efficiency is vital in order to remain competitive, Amec Foster Wheeler said ahead of ADIPEC, which will take place in Abu Dhabi next week. More »

Det Norske deepens cost cuts as loss widens on oil price collapse

Det Norske Oljeselskap ASA, the oil company controlled by Norwegian billionaire Kjell Inge Roekke, deepened cost cuts and raised output forecasts as quarterly losses widened after the collapse in crude prices. More »

Oil falls below $48/bbl before U.S. crude stockpile data

Oil traded below $48/bbl before U.S. government data forecast to show crude stockpiles increased in the world’s biggest consumer. More »

PSAC releases its 2016 Canadian Drilling Activity Forecast

The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »

Claxton completes 30 years in offshore and subsea engineering

Claxton Engineering Services, an Acteon company, has completed its 30th anniversary of successful operations in offshore and subsea engineering. More »

U.S. to continue Keystone review despite request for pause

The U.S. State Department will continue reviewing the Keystone XL pipeline project even as it considers a request from builder TransCanada Corp. to pause its evaluation of the controversial project. More »

Petrobras oil output cut as workers protest against austerity

Brazil’s daily oil production has fallen by about 500,000 bbl as oil workers strike to protest austerity measures by state-controlled Petroleo Brasileiro SA that are resulting in job losses, the country’s main oil union said Tuesday. More »

Global Tubing opens Permian basin service center

Global Tubing has opened a service center in Midland, Texas. More »

Egypt’s 30 Tcf Zohr discovery offers new potential for Eastern Med: IHS

The deepwater Zohr gas discovery in Egypt is of major significance to the Eastern Mediterranean region. More »

Fairway awards Wood Group contract for Houston crude storage facility

Wood Group has been awarded a contract by Fairway Energy Partners, LLC (Fairway) to provide engineering, design and procurement services for the Pierce Junction Crude Oil Storage facility to be built in the Pierce Junction salt dome in south Houston. More »

Wood Mac identifies key themes for the Majors in 2016

Wood Mackenzie's corporate upstream research team has assessed the third quarter (Q3) results from the Major oil and gas companies, identifying four key themes to look out for in 2016. More »

iSURVEY secures positioning framework contract with Total EandP UK

iSURVEY has secured a framework contract with Total EandP UK Limited for the provision of rig move navigation and positioning services. More »

Fiscal revisions needed to unlock Sub Sahara Africa's discovered oil: Wood Mac

Wood Mackenzie has released the key findings of one of its latest studies prepared for Africa Oil Week - Fiscal systems for oil in Sub Saharan Africa - which identifies the main themes emerging as nations across the region revise their fiscal policies. More »

Blink exploration well comes up dry, Faroe says

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the results of the Blink exploration well in the Norwegian Sea (Faroe 25%). More »

Unimin opens second unit train capable terminal at Benwood, WV

Unimin Energy Solutions has announced the grand opening of its 2nd unit train capable terminal located in Benwood, West Virginia. More »

Welltec sees increased demand for services as operators shift focus

International oil and gas industry solutions provider, Welltec, has reported a marked increase in demand for its services in the North Sea as operators scale down drilling operations. More »

DONG Energy joins EOR-focused joint industry project

Joint industry project OPTION is a step closer to tackling the challenges of oil recovery from reservoirs as DONG Energy delivers data and technical support to strengthen the project scope. More »

U.A.E. sees crude gaining in 2016 on stronger demand, less shale

Improving economies in Europe and elsewhere together with a continued decline in output of shale oil point to a recovery in demand for crude and an increase in prices next year, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. More »

MRC Global bags major contracts for Statoil's Johan Sverdrup project

MRC Global Inc. has announced that its Norwegian subsidiaries, MRC Teamtrade and MRC Energy Piping, have been awarded major contracts to support Statoil's Johan Sverdrup project in the North Sea. More »

Yergin sees oil price near bottom as U.S. Output set to fall

Oil is near a bottom and global supplies look poised to close their gap with demand as investments in new production decline and consumption grows, according to Pulitzer Prize-winning author Daniel Yergin. More »

Shell reorganizes natural gas business as BG takeover approaches

Royal Dutch Shell Plc announced organizational changes in its business as it prepares for its biggest ever takeover amid what it expects to be a prolonged downturn in oil prices. More »

Rig graveyard looms as Statoil cuts North Sea drillers loose

The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. More »

Shell failing to clean Nigeria oil-spill sites, Amnesty says

Royal Dutch Shell has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced Nigerian regulator dealing with leakages said had been decontaminated, Amnesty International said in a report on Tuesday. More »

Fiscal revisions may be needed to unlock Sub Sahara Africa's 48 Bbbl of discovered oil: Wood Mac

Wood Mackenzie has released the key findings of one of its latest studies prepared for Africa Oil Week - Fiscal systems for oil in Sub Saharan Africa - which identifies the main themes emerging as nations across the region revise their fiscal policies. More »

Forum Subsea Rentals appoints new global business director

Forum Subsea Rentals has strengthened its senior management team with the promotion of Nicki Nicholls to the role of global business director. More »

Unimin Energy opens its second unit train capable terminal at West Virginia

Unimin Energy Solutions has announced the grand opening of its 2nd unit train capable terminal located in Benwood, West Virginia. More »

TransCanada asks U.S. State Department to pause Keystone XL review

TransCanada has sent a letter to Secretary John Kerry of the U.S. State Department asking the Department to pause its review of the Presidential Permit application for the Keystone XL pipeline. More »

Rig 'graveyard' looms as Statoil cuts North Sea drillers loose

The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. More »

Accenture completes acquisition of Schlumberger Business Consulting

Accenture has completed its acquisition of SBC (Schlumberger Business Consulting), the management consulting unit of Schlumberger. More »

Statoil cancels contract for Songa Trym semisubmersible

Statoil has decided to cancel its contract for the Songa Trym semisubmersible, four months before the contract’s expiration on March 4. More »

BP Technology Outlook sees technology boosting energy supplies

BP presented its outlook on technology at a press conference here, predicting secure and sustainable energy future through the application of existing and new technologies. More »

Oil falls from two-week high as Chinese manufacturing contracts

Crude declined from its highest closing level in two weeks as a measure of manufacturing activity signaled contraction for a third straight month in China, the world’s second-biggest oil consumer. More »

Chevron announces first production from Lianzi development

Chevron Corporation announced Monday that its subsidiary, Chevron Overseas (Congo) Limited, has commenced oil and gas production from Lianzi field, located in a unitized offshore zone between the Republic of Congo and the Republic of Angola. More »

LRE launches study to address innovation challenges in oil and gas industry

Lloyd’s Register Energy has launched a new report that reveals, whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen short has almost doubled as the oil price has gone down, with only 26% saying they had fallen short in Spring 2014. More »

Murkowski takes aim at Obama admin over Alaska’s energy resources

U.S. Sen. Lisa Murkowski, R-Alaska, has highlighted Alaska’s energy priorities as she delivered the weekly Republican address to the nation. More »

Russian crude output hits post-Soviet record defying price slump

Russian oil production broke a post-Soviet record in October for the fourth time this year as earlier investments boosted output and producers prove resilient to lower crude prices. More »

Maersk Oil in world first as drone completes internal tank inspection on FPSO

Cyberhawk Innovations, a leader in aerial inspection using remotely operated aerial vehicles (ROAV), has completed its first ever ROAV inspection of a cargo oil tank on an operational FPSO. More »

Anadarko names Ingram as executive V.P., Global LNG

Anadarko Petroleum Corp. has named Mitchell W. Ingram to the newly created position of executive V.P., Global LNG, effective immediately. More »

Oil price recovery seen as downturn spurs MandA activity

Global oil and gas acquisitions should accelerate heading into 2016 and a recovery in crude prices may follow, according to Sanford C. Bernstein and Co. More »

BP Technology Outlook sees technology boosting energy supplies and path to lower carbon future

BP presented its outlook on technology at a press conference here, predicting secure and sustainable energy future through the application of existing and new technologies. More »

OPEC seen staying pat on output by oil guru who called 2014 rout

OPEC will probably hold production steady at its meeting next month as the gap between supply and demand for oil closes, according to the analyst who correctly predicted last year’s rout in prices. More »

Equatorial Guinea promotes new offshore exploration in 2016

Following the success of its 2012 and 2014 bidding rounds, the Ministry of Mines, Industry and Energy of Equatorial Guinea has announced it will launch a new bidding round for all remaining deep and ultra-deepwater blocks in 2016. More »

Lloyd’s Register Energy launches new study to address the innovation challenges in oil and gas industry

Lloyd’s Register Energy has launched a new report that reveals, whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen short has almost doubled as the oil price has gone down, with only 26% saying they had fallen short in Spring 2014. More »

LAGCOE 2015 welcomes more than 16,400 attendees

Louisiana Gulf Coast Oil Exposition (LAGCOE) 2015 has welcomed more than 16,400 from 46 countries and 49 states to the Cajundome and Convention Center in Lafayette, La., on Oct. 27 to 29. More »

GE Oil and Gas to acquire Advantec

GE Oil and Gas has agreed to acquire Advantec, a provider of subsea intervention equipment and services, to boost the company’s capabilities to offer cost-efficient products and services to customers worldwide. More »

Sen. Murkowski draws national attention to Alaska’s energy priorities

U.S. Sen. Lisa Murkowski, R-Alaska, has highlighted Alaska’s energy priorities as she delivered the weekly Republican address to the nation. More »

Sunbird-1 oil zone verified offshore Kenya

Pancontinental Oil and Gas reported it has verified that the recently completed Sunbird-1 well off the southern Kenyan coast has intersected an oil column the first ever oil discovered off the East African coast.

The gross oil column is assessed to be 14 m thick beneath a gross gas column of 29.6 m in a reefal limestone reservoir in the Sunbird Miocene Pinnacle Reef in area L10A. The corresponding net values are 9.2 m for the oil zone and 28.3 m for the gas zone. The Sunbird Reef is an ancient Miocene pinnacle reef buried beneath approximately 900 m of younger sediment.

Pancontinental believes the results are highly significant because they are the first proof of the presence a prospective oil system in the Lamu Basin offshore Kenya. The oil and gas have been geochemically typed in detail and the prospective source rocks have been dated and characterised for use in future exploration.

Analysis of the Sunbird results has been complicated by the loss of drilling mud, seawater and remedial cement pumped into the limestone reservoir during drilling operations.

Pancontinental has an 18.75% interest in the well and block L10A. Pancontinental has three extensive exploration areas in this highly prospective Basin covering a total area of approximately 15,000 sq km, including L10A. The detailed oil and gas geochemical data, which are confidential to the L10A Joint Venture partners, give the age and type of the oil source rocks, as well as other crucial data that Pancontinental believes places the L10A Joint Venture in a leading position to find commercial oil offshore Kenya.

The Operator of the Block L10A Petroleum Sharing Contract, BG Group, is continuing to analyse the well data and will recommend a future exploration programme using the well results.

The top of the Sunbird Miocene Pinnacle Reef was reached at 1,583.7 m sub-sea. The water depth is 723 m. Below the upper oil and gas zone, indications of low Wet Gas saturation were seen, although these are not considered to be volumetrically significant. The age and depositional environment of the oil source rocks have been determined by geochemical analysis, and remain commercially confidential to the L10A Joint Venture.

The presence of oil is supported by geochemical analysis of MDT samples, the pressure gradient of MDT samples, numerical modelling of the invasion of the oil zone and also fluorescence attributable to oil in samples. The reservoir zone was heavily flushed during well control operations, making determination of the oil and gas zones difficult.

Porosity and permeability of the hydrocarbon zone were favourable overall, and were very high in parts of the reservoir as evidenced by the loss of a large volume of drilling fluid.

L10A Consortium:

The Kenya L10A consortium consists of: BG Group (Operator) 50.00%, PTTEP 31.25% & Pancontinental 18.75%.

Pancontinental increases interest in L10B. Pancontinental advises that it has increased its interest in licence L10B, immediately to the south of L10A. The increase in interest is subject to the completion of documentation; however Ministerial approval has already been given.

The Kenya L10B consortium now consists of : BG Group (Operator) 75.00% & Pancontinental 25.00%.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.

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