World Oil anticipates a drilling recovery after the oil price decline

HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected. More »

Rigs seeking U.S. oil drop for eighth week, Baker Hughes says

U.S. drillers idled oil rigs for an eighth week as crude prices headed for their longest stretch of declines since 2009. More »

Gazprom Neft obtains first shale oil inflows at Southern Priobskoye field

Gazpromneft Khantos has completed testing of an initial two wells, drilled to allow analysis of deposits in the Bazhenov formation, in the south of Priobskoye oil field. More »

OPEC January crude output rises as Iraq pumps at record pace

VIENNA, Austria -- OPEC oil production rose in January as record Iraqi output helped drive prices near six-year lows. More »

Chevron guts spending by most since ’03 as profit takes dive

SAN RAMON, California -- Chevron Corp. slashed its drilling budget by the most in 12 years and said it may delay some shale projects as energy producers around the world hoard cash and curtail ambitions in response to free-falling oil prices. More »

SBM Offshore reintroduces COO position

SBM Offshore has appointed Philippe Barril as COO, effective from Mar. 1, 2015. More »

Daybreak announces record initial production in Kentucky

Daybreak Oil and Gas has announced initial flow rate of approximately 520 bopd from the Jackson H-20 well in Kentucky. More »

Ezra bags more than $65 million worth global contracts; gets Lewek Constellation on track

Ezra Holdings, through the group’s subsea services division, EMAS AMC, has secured multiple contracts from various energy companies valued at more than $65 million (including options). More »

Oil heads for longest decline in six years as glut seen worsening

Oil headed for the longest run of monthly losses since January 2009 amid speculation that rising U.S. crude supplies will exacerbate the global glut that spurred last year’s price collapse. More »

Santos acquires interest in Malaysia's deepwater Block R from Inpex, JX Nippon

Inpex Corporation, through its wholly-owned subsidiary, Inpex Offshore South West Sabah, has reached an agreement to transfer 10% of its participating interest in the deepwater Block R, offshore East Malaysia to Santos Sabah Block R, a subsidiary of Santos Limited. More »

Blackstone ‘scrambling’ to invest in distressed oil and gas companies

Blackstone Group, the biggest alternative-asset manager, is “scrambling” to invest more than $10 billion in energy companies after the price of oil plunged, the firm’s president said. More »

Sen. Murkowski leads U.S. Senate approval of Keystone XL pipeline

Sen. Lisa Murkowski, R-Alaska, chairman of the Senate Energy and Natural Resources Committee, today voted to approve legislation authorizing the cross-border permit for constriction of the Keystone XL pipeline. More »

API establishes office in Colorado

WASHINGTON -- The American Petroleum Institute has announced the establishment of a Colorado Petroleum Council that will focus on energy priorities in the state, including hydraulic fracturing and energy infrastructure, as the state seeks to create jobs, generate more revenue to the government, and produce more domestic energy. More »

Murkowski: DOE won’t hinder progress of Alaskan LNG exports

U.S. Sen. Lisa Murkowski, R-Alaska, has received confirmation from Christopher Smith, Assistant Secretary for Fossil Energy at the Department of Energy (DOE), that LNG export projects in Alaska are eligible for conditional authorizations. More »

Marine Well Containment Company delivers expanded containment system

HOUSTON -- Marine Well Containment Company (MWCC) announced today the completion and delivery of its expanded containment system (ECS), bolstering well containment capabilities and response readiness for operators in the deepwater U.S. Gulf of Mexico. The enhanced system builds on the equipment and technology put into place with MWCC’s Interim Containment System, made available in February 2011. More »

Wintershall awards contract to 4Subsea for North Sea project

HVALSTAD, Norway -- Wintershall Norway) has awarded 4Subsea a frame agreement contract related to Subsea Engineering Services. The agreement covers engineering and advisory services related to subsea production systems including wellheads, Christmas trees and well intervention systems. More »

GE opens marine-dedicated division

PARIS -- GE has unveiled its new GE Marine organization, which combines several GE businesses, and will be led by Tim Schweikert, V.P., GE Marine. More »

Inaugural ShaleTech Canada offers unique forum for networking, technology sharing

ShaleTech Canada 2015 is the premier event for professionals working in the shale oil and gas industry in Canada, which is the world's fifth-largest oil producer. More »

WPX completes sale of international interests

WPX Energy has completed the disposition of its international interests upon the successful merger of Apco Oil and Gas International with a subsidiary of privately held Pluspetrol Resources Corporation. More »

Rex Energy names new CFO

STATE COLLEGE, Pennsylvania -- Rex Energy Corporation has announced that Thomas Rajan has been appointed CFO of the company effective Feb. 1, 2015. More »

Maersk Drilling takes delivery of third ultra-harsh environment jackup

Maersk Drilling has taken delivery of its third ultra-harsh environment jackup, XLE-3, from the Keppel FELS shipyard in Singapore ahead of schedule. More »

ConocoPhillips reports loss as oil crash crimps shale gains

ConocoPhillips, the third-largest U.S. energy producer, reported a fourth-quarter loss as new output failed to make up for the worst oil-price crash since 2009. More »

Russia’s oil, gas tax policies increasingly looking east, GlobalData says

The recent changes in the taxation of Russia’s oil and gas sector reflect both the country’s pivot eastward and the special treatment afforded to its state-controlled energy companies, says an analyst with research and consulting firm GlobalData. More »

Shell cuts spending by $15 billion as profit misses forecasts

Royal Dutch Shell will cut $15 billion of investment over the next three years as the crash in oil prices saw fourth-quarter profit miss forecasts. More »

Total awarded 10% in the new 40-year ADCO concession

Total has signed a new 40-year onshore concession agreement that covers the fifteen principal onshore oil fields of Abu Dhabi and represents more than half of the Emirate’s production. More »

Shell cuts spending $15 billion as profit misses forecasts

Royal Dutch Shell will cut $15 billion of investment over the next three years as the crash in oil prices saw fourth-quarter profit miss forecasts. More »

Total wins 10% in the 40-year ADCO onshore concession

Total has signed a new 40-year onshore concession agreement that covers the fifteen principal onshore oil fields of Abu Dhabi and represents more than half of the Emirate’s production. More »

Shell, Exxon sell North Sea field to ONE after oil-price rout

Royal Dutch Shell and Exxon Mobil have sold their stakes in the Sean field to Oranje-Nassau Energie for an undisclosed sum as drillers seek to offload aging North Sea assets. More »

China to keep 200 MMbbl hoard even if oil rallies

China is poised to maintain its commercial hoard of more than 200 MMbbl of crude within three years even if oil rallies toward $130/barrel. More »

SAExploration bags ocean-bottom marine seismic awards for $45 million

SAExploration Holdings has announced new project awards for ocean-bottom marine seismic data acquisition services collectively valued at approximately $45 million. More »

Lundin to drill appraisal well in Barents Sea

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for an appraisal well 7220/11-2 under PL609 in the Barents Sea. More »

Oil will recover once producers quit spending, Harold Hamm says

Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday. More »

GE, Statoil launch new collaboration for sustainable energy

GE and Statoil have now announced a new collaboration to accelerate the development of more environmentally and economically sustainable energy solutions. More »

Scotland issues fracing moratorium pending consultation

Scotland will impose a moratorium on unconventional oil and gas drilling pending the results of a public consultation, in the latest blow for fracing in the UK. More »

Murkowski: Alaska will not be treated as a territory

More »

BG Group, KBR sign global alliance amid oil slump

BG Group has signed a global alliance with KBR enhancing the company’s capacity to deliver commercially attractive oil and gas projects around the world. More »

Cenovus cuts another $700 million from budget

Cenovus Energy is further reducing its 2015 capital spending in order to preserve cash and maintain the strength of its balance sheet. More »

New ozone standards duplicative and costly: API

WASHINGTON, D.C. – The EPA's new proposal to tighten regulations on ozone would be very costly, and would fall on top of current standards that are already improving air quality. More »

Chevron takes control of BP deepwater Gulf of Mexico discoveries

Chevron expands its deepwater portfolio by assuming control of projects from BP as the U.K. company freezes wages and cuts spending in response to collapsing crude prices. More »

Chevron, BP, ConocoPhillips to appraise jointly-held leases in U.S. GoM

Chevron Corp. has announced that its subsidiary, Chevron U.S.A., will work with BP Exploration and Production and ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico. More »

Ramboll wins Maersk contract for additional Culzean jacket design projects

Maersk Oil UK has awarded Ramboll Oil and Gas the detailed design for the two jackets for a central processing facility platform and a separate utilities and living quarter platform for Culzean field offshore Aberdeen. More »

China to keep 200 MMbbl crude hoard even if oil rallies

China is poised to maintain its commercial hoard of more than 200 MMbbl of crude within three years even if oil rallies toward $130/bbl. More »

Gazprom Neft to bring power to Russia’s most northernmost onshore field

The transportation of six 13MW gas-turbine power units to Russia’s Vostochno-Messoyakhskoye field, for the construction of a gas-turbine thermal power plant has begun. More »

Iraq oil surge to fan OPEC rivalry that triggered slump

The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate. More »

China to keep 200 MMbbl crude hoard even of oil rallies

China is poised to maintain its commercial hoard of more than 200 MMbbl of crude within three years even if oil rallies toward $130/bbl. More »

Canacol Energy tests gas discovery in Colombia

Canacol Energy has announced that Clarinete-1, the first well drilled in its recently acquired VIM 5 exploration and production contract, has tested at a final gross rate of 20.6 MMcfd (3,606 boed) of dry gas with no water in the first of two planned production tests over two separate reservoir intervals. More »

Gulf Marine announces four-year contract for large class vessel

Gulf Marine Services, a provider of advanced self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, has announced a major new long-term contract award for one of its large class vessels. More »

McDermott's DB50 lifts 3,250 ton jacket in Gulf of Mexico, sets record

McDermott International has announced that that the Derrick Barge 50 (DB50) recently completed the installation of a drilling and production platform in the U. S. Gulf of Mexico continental shelf that included the heavy lift of a 3,250 ton jacket. More »

Oil drops as Saudis resist output cuts amid rising U.S. supplies

Oil fell as Saudi Arabia, the world’s biggest exporter, signaled it won’t act to balance the market while forecasts for U.S. crude inventories to rise bolstered speculation that a global glut will persist. More »

Obama lease sale strategy includes offshore Mid- and South Atlantic

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper have announced the next step in the development of the U.S.'s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. More »

Successful toe sleeve deployment enhances production in Anadarko basin

PetroQuip Energy Services has successfully run its Big Foot toe sleeve in a recent horizontal completion for an independent operator in the Anadarko basin. More »

Alaska’s Sen. Murkowski slams Obama leasing plan

U.S. Sen. Lisa Murkowski, R-Alaska, has criticized the Obama administration for its continued campaign to shut down oil and natural gas activity in Alaska. More »

Obama admin announces draft strategy for offshore oil, gas leasing

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper have announced the next step in the development of the U.S.'s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. More »

Stranded Kurd tanker leaves Gulf of Mexico

An oil tanker that hauled 1 MMbbl of Kurdish crude to the U.S. six months ago didn’t unload its cargo and is now making a return trip across the Atlantic Ocean with the shipment still on board. More »

Gastech 2015 Singapore seeks papers on gas, LNG market outlook

As one of the world’s premier gas industry conferences, for more than four decades Gastech has represented and influenced the interests of the natural and liquefied natural gas (LNG) communities at the highest level. More »

RWG secures maintenance contract from ZADCO

Through local partner Al Ahlia Oilfields Development Company, ZADCO has awarded RWG a maintenance services contract for the overhaul and upgrade of multiple Industrial Avon gas generators used to enhance oil and gas production processes. More »

Exciting year ahead for Europe's upstream sector, Wood Mackenzie says

Wood Mackenzie's European upstream research team have assessed the most significant events of 2014 impacting Continental and Mediterranean Europe’s—all of Europe excluding UK and Norway—oil and gas sector, including the Ukraine Crisis and the collapse of global oil prices, identifying the key areas to watch this year. More »

Eni sanctions OCTP project in Ghana

Eni, Vitol and GNPC have signed, with the President of Ghana and the Minister of Petroleum, an agreement to proceed with the OCTP integrated oil and gas project in Ghana. More »

CNPC completes China’s deepest onshore well at Tarim oil field

CNPC completed the Keshen-902 well to a depth of 8,038 m, 15 m deeper than the Keshen-7 well drilled in 2011 at the same structural belt, on Jan. 21, the company has reported. More »

API: December petroleum demand up sharply, crude production highest since ‘72

Total U.S. petroleum deliveries (a measure of demand) rose last month by 5.1% from December 2013 to average nearly 20.0 MMbpd. More »

Goldman Sachs president sees oil falling to $30/bbl in extended slump

Oil prices will probably continue to decline and could reach as low as $30/bbl, according to Gary Cohn, president of Goldman Sachs Group Inc. More »

Saudis won’t ‘singlehandedly’ balance crude market, Aramco says

Saudi Arabia won’t balance global crude markets on its own even as prices fall to levels that are “too low for everybody” and threaten investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said. More »

Camcon names new business development manager for MENA

Camcon Oil has announced the appointment of Abdel Ben Amara as BD Manager for the Middle East and North Africa (MENA) region. More »

LoneStar Group inks global EFA with Shell Global Solutions

The LoneStar Group has recently awarded a five year global Enterprise Framework Agreement (EFA) with Shell Global Solutions for the supply of stud bolts and fasteners. More »

Oil trades near six-year low as OPEC fails to turn focus from glut

Oil extended losses to trade near an almost six-year low as OPEC’s warning that prices may surge without new investment in production failed to shift the market’s focus from more immediate signs of a global supply glut. More »

Technip bags two subsea contracts in Gulf of Mexico from Stone Energy

Technip has been awarded by Stone Energy Corporation both a flexible pipe supply contract and an installation contract for the Amethyst field, located on Mississippi Canyon 26, in the Gulf of Mexico. More »

Camcon announces new BD Manager for MENA region

Camcon Oil has announced the appointment of Abdel Ben Amara as BD Manager for the Middle East and North Africa (MENA) region. More »

LoneStar Group inks global EFA from Shell Global Solutions

The LoneStar Group has recently awarded a five year global Enterprise Framework Agreement (EFA) with Shell Global Solutions for the supply of stud bolts and fasteners. More »

U.S. Steel to cut pipe production amid oil slump

United States Steel Corporation has announced that it will temporarily adjust operations at Lone Star Tubular Operations in Lone Star, Texas, and Fairfield Tubular Operations in Fairfield, Ala. Fairfield Works, the primary flat-roll supplier of rounds to Fairfield Tubular Operations, will also adjust operations.v More »

BP freezes employee pay in response to oil price slump

BP will freeze employee pay in the latest example of cost cuts as the world’s top oil companies respond to plunging crude. More »

Launching licensing rounds in tough times

The low oil price and high project costs mean countries are under pressure to make oil and gas licensing rounds as attractive as possible for bidders if they are to be successful. More »

InterMoor completes Juniper mooring and foundation installation contract

InterMoor, an Acteon company, has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago. More »

$200 oil possible with lack of spending, OPEC’s El-Badri says

OPEC’s secretary-general said oil prices as high as $200/bbl are possible if producers fail to invest in new supply. More »

$200 oil possible with lack of spending, OPEC’s El-Badri says

OPEC’s secretary-general said oil prices as high as $200/bbl are possible if producers fail to invest in new supply. More »

JGC wins Petronas contract for LNG expansion project

JGC Corporation, as a part of a consortium with JGC Group company, JGC Malaysia, has been awarded a contract by Petronas LNG 9 Sdn. Bhd. (PL9SB), a wholly-owned subsidiary of Petronas. More »

Oil price slump spurs CNPC to focus on natural gas, cut costs

Stung by the slump in crude oil prices, China National Petroleum Corp. said it will speed up natural gas exploration in 2015 and take “revolutionary measures” to cut costs. More »

Aker Geo renamed following Aker Solutions split

Aker Geo will—following the split of Aker Solutions—operate under the First Geo brand with immediate effect. More »

OneSubsea production system delivers success at Chevron’s Jack and St. Malo

OneSubsea, a Cameron and Schlumberger company, supplied the subsea production and processing systems for the Chevron-operated, deepwater Gulf of Mexico fields, Jack and St. Malo. More »

Tethys gets 15-year extension to Kyzyloi production contract

Tethys Petroleum’s wholly owned subsidiary, TethysAralGaz, has received permission from Kazakhstan' s Ministry of Energy to extend the Kyzyloi Gas Production Contract for another 15 years, from June 14, 2014, to Dec. 31, 2029. More »

Spectrum kicks off 2D survey offshore Western Australia

Spectrum has started the first phase of its 11,000 km Rocket Multi-Client 2D seismic survey in the South Carnarvon, and North Perth basins, offshore Western Australia. This first phase comprises 4,200 km, and the survey has received strong support from industry. More »

Rosneft subsidiary completes first stage of new gas pipeline

RN-Nyaganneftegaz, a subsidiary of Rosneft, has finished building the line infrastructure for a new 31.5 km gas pipeline that will connect the Em-Egovskiy license block to a gas processing plant. More »

Big oil gets serious as worst spending cut since 1986 looms

NEW YORK (Bloomberg) -- The world’s oil companies are awaking from their slumber and facing up to the magnitude of the crash in energy prices. More »

BP faces maximum $13.7 billion fine after reduced spill-size ruling

NEW ORLEANS (Bloomberg) -- BP faces a maximum fine of $13.7 billion after a U.S. judge ruled that the company in 2010 dumped 3.19 MMbbl of oil into the Gulf of Mexico. U.S. District Judge Carl Barbier rejected the U.S. government’s 4.2 MMbbl estimate of the spill size, decreasing the potential maximum fine from $18 billion. More »

Schlumberger records $1.77 billion charge, plans to cut 9,000 jobs

HOUSTON (Bloomberg) -- Schlumberger Ltd., the world’s biggest oilfield-services company, took a $1.77 billion charge in the fourth quarter as it prepares for an “uncertain environment” after the collapse in oil prices. More »

WorleyParsonsCord wins Canadian oil sands contract

WorleyParsonsCord has been selected to provide fabrication, modularization and construction services in an agreement with a major exploration and production company in Canada to construct a significant oil sands mining project. More »

Ennsub completes sealing work on Wheatstone LNG platform

Ennsub has successfully completed the design, manufacture, testing and installation of bespoke sealing systems for the Wheatstone LNG platform off the coast of Australia. More »

U.A.E. plans to keep investing in energy amid volatile oil price

The United Arab Emirates will continue building and upgrading its oil facilities to maintain its role as a major producer amid the decline and volatility in prices, Energy Minister Suhail Al Mazrouei said. More »

iSURVEY appoints new business development manager

iSURVEY has appointed Iain Milroy as business development manager at the company’s Aberdeenshire office. More »

Obama moves to block oil exploration in Alaska refuge

President Barack Obama’s call to restrict oil exploration on 12 million acres of the Arctic National Wildlife Refuge probably won’t have much practical impact for an area already off-limits to drillers, though it’s created a new fault line with the Republican-led Congress. More »

BSEE responds to damaged unmanned platform offshore Louisiana

BSEE is responding to a damaged unmanned platform in South Timbalier (ST) Block 27 in the Gulf of Mexico approximately 5 miles south of Port Fourchon, Louisiana, in 50 ft of water. More »

Baker Hughes: Rigs seeking U.S. oil fall to two-year low

U.S. drillers idled rigs seeking oil for a seventh week as production hovers near a three-decade high, contributing to a global glut that’s kept oil prices below $50/bbl for more than two weeks. More »

BHP Billiton completes acquisition of Petrohawk

BHP Billiton completes acquisition of Petrohawk Energy BHP Billiton announced that it has completed its acquisition of Petrohawk Energy Corporation through a short-form merger under Delaware law of its wholly owned subsidiary with and into Petrohawk, with Petrohawk being the surviving corporation as a wholly owned subsidiary of BHP Billiton. The merger was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP Billiton to acquire all outstanding shares of common stock of Petrohawk. More »

Shale oil growth in U.S. hurts Canadians as well as OPEC

OPEC isn’t the only victim of the growth in U.S. shale oil. More »

Mexico’s bidding round will remain competitive, GlobalData says

With Mexican oil open to private investment for the first time, the country’s initial bidding round is expected to remain competitive despite low oil prices, delays and a number of uncertainties, according to research and consulting firm GlobalData. More »

Bollinger Shipyards announces key promotions

Bollinger Shipyards has announced the promotion of three key leaders. More »

Railroad Commission names new director for oil, gas division

The Railroad Commission of Texas (RRC) has named Lori Wrotenbery Director of the Commission’s Oil and Gas Division. She holds a bachelor’s degree in geology from the University of Texas and a law degree from Harvard University. More »

Eni makes new discovery in Egypt's Western Desert

MILAN, Italy -- Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia license, in the Western Desert of Egypt.

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Eni announces new oil and gas discovery in the Western Desert of Egypt

Eni announces new oil and gas discovery in the Western Desert of Egypt MILAN, Italy Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia licence, in the Western

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Eni inks agreement for exploration block in Egypt's Western Desert

MILAN, Italy -- Eni has signed a new Concession Agreement to operate in the South-West Melehia Block in the Western Desert of Egypt, following the Egyptian General Petroleum Corporation (EGPC) 2013 international competitive bid round.

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Eni inks agreement for exploration block in Egypt's Western Desert

MILAN, Italy -- Eni has signed a new Concession Agreement to operate in the South-West Melehia Block in the Western Desert of Egypt, following the Egyptian General Petroleum Corporation (EGPC) 2013 international competitive bid round.

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AccessESP installs Nigeria’s first rigless conveyance system

AccessESP installs Nigeria’s first rigless conveyance system HOUSTON AccessESP has installed the first rigless ESP conveyance system in Nigeria in the Ukpokiti #4 offshore well for Shebah Exploration and Production Company Limited (SEPCOL). This installation was performed using AccessESP’s 375

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Equatorial Guinea and Taleveras to build Africa's largest oil storage hub

MALABO, Equatorial Guinea -- The government of Equatorial Guinea has signed an agreement with Nigerian energy firm, Taleveras Group, to build an oil storage hub in the West African country.

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Shell agrees $83 million settlement with Nigeria's Bodo community

ABUJA, Nigeria -- Shell’s Nigerian subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced an $83 million (£55 million) settlement agreement with Nigeria' s Bodo community in respect of two oil spills.

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Total achieves flare-out of Ofon field, offshore Nigeria

PARIS -- Total has completed the flare-out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG.

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SacOil launches field development work at Lagia field in Egypt

SacOil launches field development work at Lagia field in Egypt GAUTENG, South Africa SacOil Holdings, through its subsidiary Mena International Petroleum (Mena) has announced the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore

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Egypt makes $60 million payment to Dana Gas

SHARJAH, United Arab Emirates -- Dana Gas has received a payment of $60 million from the Egyptian government. This represents 28% of the total overdue receivables of $212 million.

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Egypt pays $350 million towards BG Group debt

READING, United Kingdom -- Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group has received a further payment equivalent to $350 million. This reduces the company' s domestic receivables balance in Egypt to around $920 million.

More »

AccessESP installs Nigeria’s first rigless conveyance system

AccessESP installs Nigeria’s first rigless conveyance system HOUSTON AccessESP has installed the first rigless ESP conveyance system in Nigeria in the Ukpokiti #4 offshore well for Shebah Exploration and Production Company Limited (SEPCOL). This installation was performed using AccessESP’s 375

More »

AccessESP installs Nigeria’s first rigless conveyance system

AccessESP installs Nigeria’s first rigless conveyance system HOUSTON AccessESP has installed the first rigless ESP conveyance system in Nigeria in the Ukpokiti #4 offshore well for Shebah Exploration and Production Company Limited (SEPCOL). This installation was performed using AccessESP’s 375

More »

Equatorial Guinea and Taleveras to build Africa's largest oil storage hub

MALABO, Equatorial Guinea -- The government of Equatorial Guinea has signed an agreement with Nigerian energy firm, Taleveras Group, to build an oil storage hub in the West African country.

More »

Equatorial Guinea and Taleveras to build Africa's largest oil storage hub

MALABO, Equatorial Guinea -- The government of Equatorial Guinea has signed an agreement with Nigerian energy firm, Taleveras Group, to build an oil storage hub in the West African country.

More »

Shell agrees $83 million settlement with Nigeria's Bodo community

ABUJA, Nigeria -- Shell’s Nigerian subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced an $83 million (£55 million) settlement agreement with Nigeria' s Bodo community in respect of two oil spills.

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Shell agrees $83 million settlement with Nigeria's Bodo community

ABUJA, Nigeria -- Shell’s Nigerian subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced an $83 million (£55 million) settlement agreement with Nigeria' s Bodo community in respect of two oil spills.

More »

Total achieves flare-out of Ofon field, offshore Nigeria

PARIS -- Total has completed the flare-out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG.

More »

Total achieves flare-out of Ofon field, offshore Nigeria

PARIS -- Total has completed the flare-out of the Ofon field on Oil Mining Lease (OML) 102 offshore Nigeria. The associated gas of Ofon field is now being compressed, evacuated to shore and monetized via Nigeria LNG.

More »

SacOil launches field development work at Lagia field in Egypt

SacOil launches field development work at Lagia field in Egypt GAUTENG, South Africa SacOil Holdings, through its subsidiary Mena International Petroleum (Mena) has announced the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore

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SacOil launches field development work at Lagia field in Egypt

SacOil launches field development work at Lagia field in Egypt GAUTENG, South Africa SacOil Holdings, through its subsidiary Mena International Petroleum (Mena) has announced the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore

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Otto Energy completes seismic programme over Kilombero basin

Otto Energy completes seismic programme over Kilombero basin SYDNEY, Australia Otto Energy Ltd is pleased to announce that the JV has successfully completed a 430 km 2D seismic programme over the Kilombero basin in central Tanzania. Otto Energy Tanzania Pty

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Otto Energy completes seismic programme over Kilombero basin

Otto Energy completes seismic programme over Kilombero basin SYDNEY, Australia Otto Energy Ltd is pleased to announce that the JV has successfully completed a 430 km 2D seismic programme over the Kilombero basin in central Tanzania. Otto Energy Tanzania Pty

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Egypt makes $60 million payment to Dana Gas

SHARJAH, United Arab Emirates -- Dana Gas has received a payment of $60 million from the Egyptian government. This represents 28% of the total overdue receivables of $212 million.

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Egypt makes $60 million payment to Dana Gas

SHARJAH, United Arab Emirates -- Dana Gas has received a payment of $60 million from the Egyptian government. This represents 28% of the total overdue receivables of $212 million.

More »

Egypt pays $350 million towards BG Group debt

READING, United Kingdom -- Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group has received a further payment equivalent to $350 million. This reduces the company' s domestic receivables balance in Egypt to around $920 million.

More »

Egypt pays $350 million towards BG Group debt

READING, United Kingdom -- Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group has received a further payment equivalent to $350 million. This reduces the company' s domestic receivables balance in Egypt to around $920 million.

More »

Libya crude output seen lowest since May after port attacks

LONDON (Bloomberg) -- Libyan oil production has fallen below 300,000 bpd after Islamist militants shifted attacks to energy facilities including the country’s largest oil export terminal, said Energy Aspects Ltd. Output is the lowest since May and down at least 65% from a recent high of 850,000 bopd in October following the assault on the Es Sider terminal, according to the Energy Aspects estimate. Libya holds Africa’s largest oil reserves.

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