Cenovus sells royalty business for $3.3 billion

Cenovus Energy has reached an agreement to sell Heritage Royalty Limited Partnership (HRP) for gross cash proceeds of approximately $3.3 billion. More »

2H Offshore appoints Prahlad Enuganti as technical manager in Aberdeen office

2H Offshore has appointed Prahlad Enuganti as technical manager in its Aberdeen office, to strengthen its management team and drive business growth. More »

Sonomatic announces agreement to acquire Tube Inspection Division of Archipax

Sonomatic has signed a definitive agreement to acquire the Tube Inspection Division of Archipax. The acquisition is expected to broaden the range of capabilities and services available to Sonomatic’s current and future clients. More »

Cameron launches new wireless, API-compliant flow computer

Cameron (NYSE: CAM) announced the launch of the Scanner 3100 and 2100 model flow computers – introducing wireless, API-compliant flow computing for the oil and gas industry. More »

Russia-Ukraine gas talks set to focus on price as EU seeks deal

Russia and Ukraine were poised to wrangle over natural-gas prices at talks brokered by the European Union, which seeks to secure an agreement on supplies of the fuel through at least next winter. More »

Russia-Turkey gas pipeline deal said to stall on price dispute

Russia’s plan to build a new $15 billion pipeline to Turkey is at risk of delay because of a fight over gas prices, according to people with knowledge of the matter. More »

VAALCO Energy names new COO

VAALCO Energy has announced that Cary Bounds will join VAALCO as the company’s new COO, effective July 6. More »

Logan Industries to supply CCTLF system for Maersk drillship

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016. More »

Statoil submits $115-million development plan for Gullfaks area

Statoil and its partners have submitted an amendment to the Plan for Development and Operations (PDO) for the Gullfaks license to Norway’s Ministry of Petroleum and Energy for phase 1 of the Shetland/Lista development. More »

BP, Anadarko rejected by top U.S. court on Macondo spill fines

The U.S. Supreme Court rejected appeals from BP Plc and Anadarko Petroleum Corp. and left intact a ruling that opens the companies to potentially billions of dollars in fines for the 2010 Gulf of Mexico oil spill. More »

DCP Midstream Partners' Lucerne 2 plant now serving DJ Basin

DCP Midstream Partners' new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the partnership's processing capacity in the DJ Basin to approximately 400 MMcfd. More »

Technip wins contract for FPSO destined for Libra field

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. More »

CNOOC starts production at Bozhong 28/34 oilfields comprehensive adjustment project

CNOOC Limited’s Bozhong 28/34 oilfields comprehensive adjustment project has commenced production. The Bozhong 28/34 oilfields are located in Bohai, with an average water depth of approximately 22 m. More »

Wood Group acquires BETA Machinery Analysis

Wood Group has acquired BETA Machinery Analysis (BETA), a Calgary-based engineering consultancy specializing in advanced vibration analysis in a deal valued at $14.3 million. More »

Rig rout puts smaller drillers in front as majors scale back

LONDON (Bloomberg) -- Crude oil’s plunge is leaving drilling rigs idle from Africa to Latin America as the world’s biggest energy companies curtail spending and stall projects. Their smaller rivals are seizing the opportunity to gain ground. More »

Oil holds losses below $60 as nuclear talks set to miss deadline

Oil held losses below $60 bbl as investors weighed the prospects of Iran increasing crude exports in an oversupplied market. More »

BP, Anadarko rejected by top U.S. court on Gulf spill fines

The U.S. Supreme Court rejected appeals from BP Plc and Anadarko Petroleum Corp. and left intact a ruling that opens the companies to potentially billions of dollars in fines for the 2010 Gulf of Mexico oil spill. More »

DCP Midstream Partners' Lucerne 2 plant now serving the prolific DJ Basin

DCP Midstream Partners announced its new 200 MMcfd Lucerne 2 natural gas processing plant is now in service, increasing the Partnership's processing capacity in the DJ Basin to approximately 400 MMcfd. More »

Xodus secures new ZADCO vibration contract

Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development company (ZADCO) at Zirku Island, 140 km north-west of Abu Dhabi. More »

New appointments and mergers at Ministry of Mines, Industry and Energy and GEPetrol will strengthen Equatorial Guinea oil sector

The Ministry of Mines, Industry and Energy of Equatorial Guinea has announced new government appointments and mergers of key internal departments that will streamline its operations and contribute to an overall improvement of governance in Equatorial Guinea, says Centurion Law Group. Meanwhile, GEPetrol’s hiring of a new General Director and other key directors as part of a strategic restructuring will make the national oil company better positioned to carry out its expansion. More »

Logan Industries to supply CCTLF system for Maersk’s drillship Maersk Voyager

Logan Industries, based in Hempstead Texas, has recently been awarded with an order for a Compensated Coiled Tubing Lift Frame (CCTLF) for Maersk Drilling. The CCTLF system will be designed and built in-house and is expected to be delivered to Maersk in Q2 2016. More »

Ikon Science announces the launch of an Atlantic Ireland Regional Study

As the Ireland Atlantic Margins licensing rounds approach, Ikon Science is offering oil and gas companies, an opportunity to get ahead with a new and comprehensive interpretation of pressure and rock physics mechanisms, through a sponsorship position in The Ikon Science Atlantic Ireland Regional Study. More »

New York bans fracing with release of seven-year study

New York state has officially banned hydraulic fracturing. The state, following through on a decision Democratic Governor Andrew Cuomo made in December, released its formal study of the drilling practice Monday after almost seven years of study. More »

Big Oil needs new model to endure $60 crude, Morgan Stanley says

The world’s largest oil companies need to change their business model to increase shareholder returns during a period of depressed crude prices, a report published by Morgan Stanley and The Boston Consulting Group said. More »

Israel gas plan makes the best of limitations, official says

Israel’s proposed guidelines for regulating its natural gas reserves are the best it can hope for because the local industry can’t support competition, a senior government official said. More »

Fugro, Cross Group awarded multi well contract in Gulf of Mexico

Fugro’s dynamically positioned multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi well intervention campaign which recently started in the Gulf of Mexico. More »

Wild Well expands training capabilities with new well control certification program

Wild Well Control, Inc., a Superior Energy Services company and a global leader in firefighting and well control, introduces its exclusive well control training certification program designed to meet the ever-changing needs of the industry by offering a complete selection of action-oriented well control training curricula, which includes both team and individual well control simulator exercises. More »

Petrobras lowers five-year spending plan to $130 bn

Petroleo Brasileiro SA cut its five-year spending plan by 37% and lowered oil output targets as Brazil’s state-controlled producer battles the industry’s heaviest debt load and a slump in crude prices. More »

Oil sands prepared to take greater role to tackle climate change, CAPP says

Canada’s oil sands producers are prepared to take a greater leadership role on climate action as part of the growing global intention to reduce greenhouse gas emissions, the Canadian Association of Petroleum Producers (CAPP) said. More »

CAPP seeks 4-point royalty plan to make Alberta more competitive

The Alberta government should consider four principles to make the province more competitive for of oil and gas investment as it proceeds with its royalty review, the Canadian Association of Petroleum Producers said Friday. More »

Husky Energy starts production at South White Rose extension

Husky Energy has started production from the South White Rose project in the Jeanne d'Arc basin offshore Newfoundland and Labrador. More »

Kværner Verdal starts construction of steel jacket for Johan Sverdrup

Work on the steel jacket for Johan Sverdrup field's riser platform is now underway, operator Statoil announced Monday. More »

Cuadrilla drilling rejected in blow to UK fracing industry

Cuadrilla Resources Ltd., the driller whose fracing ambitions have sparked protests, was refused permission to drill in northwest England in the latest blow to the UK’s nascent shale-gas industry. More »

Eni, KMG to explore Isatay Block in Caspian Sea

Eni and KazMunayGas have finalized an agreement that defines the commercial terms of the transfer to Eni of 50% of the subsoil use rights in the Isatay block located in the Kazakh Caspian Sea. More »

Otto Marine wins charter contracts worth $131 million

Otto Marine Limited has announced that in the second quarter of financial year 2015, the group secured new orders worth $131 million, primarily contributed by the chartering business. More »

Atlas Knowledge lands Dolphin Drilling contract

Dolphin Drilling has selected Atlas Knowledge to deliver a new system to manage the competence and training of its workforce in the UK. More »

Repsol’s CEO courts skeptical investors after $13-billion deal

In his first year as Repsol SA CEO, Josu Jon Imaz helped lead the largest acquisition by a Spanish company this decade, the $13-billion purchase of Talisman Energy Inc. More »

Origin Energy expects Chinese LNG buyer to fulfill contract

Origin Energy Ltd. expects China Petrochemical Corp. to fulfill its agreement to purchase liquefied natural gas from a A$24.7 billion ($19 billion) export project in Australia. More »

TGS to acquire Polarcus' multi-client library

TGS has entered into a Letter of Intent to acquire Polarcus' multi-client library, with the exception of Australia, for a price of $27.5 million on a cash and debt free basis. More »

Otto Marine wins $131 million worth charter contracts

Otto Marine Limited, has announced that in the second quarter of financial year 2015 (Q2FY2015) till date, the group has secured new orders worth $131 million, primarily contributed by the chartering business. More »

Eni, KazMunayGas to jointly explore Isatay block in Caspian Sea

Eni and KazMunayGas have finalized an agreement that defines the commercial terms of the transfer to Eni of 50% of the subsoil use rights in the Isatay block located in the Kazakh Caspian Sea. More »

Eni, KazMunayGas to jointly explore the Isatay block in Caspian Sea

Eni and KazMunayGas have finalized an agreement that defines the commercial terms of the transfer to Eni of 50% of the subsoil use rights in the Isatay block located in the Kazakh Caspian Sea. More »

U.S. rig count rises as oil-directed rigs drop for 29th week: Baker Hughes

The U.S. rig count has ended a 28-week slide with Baker Hughes reporting the first addition of rigs since Dec. 5. More »

Buhari disbands Nigerian state oil board in corruption drive

Nigerian President Muhammadu Buhari dissolved the board of the state oil company on Friday in an attempt to fight corruption in the industry. More »

U.S. rig count rises as oil-directed rigs drop for 29th week

The U.S. rig count has ended a 28-week slide with Baker Hughes reporting the first addition of rigs since Dec. 5. More »

Independent Oil and Gas extends seismic remapping agreement with Baker Hughes

Independent Oil and Gas PLC (IOG) is extending its seismic remapping agreement with Baker Hughes’ Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS), with an expected delivery date of late July 2015. More »

Patterson-UTI Energy announces passing of co-founder

Patterson-UTI Energy has announced the passing of A. Glenn Patterson, one of the original founders of the company. Patterson served as the president and COO of the company from 1978 until his retirement in May 2006. More »

Peter Jenkins appointed new CEO of 4Subsea

4Subsea’s board has appointed Peter Jenkins, one of the founders of the company, as the new CEO. He replaces Henning Christensen, also one of the founders. More »

LLOG awards Otis field subsea tieback contract to McDermott

McDermott International has been awarded a sizeable lump-sum contract by LLOG Exploration Offshore in support of LLOG’s Otis development in the Gulf of Mexico. More »

Gazprom Neft nearly doubles production at Iraq’s Badra field

A fourth well has been brought into production at Iraq’s Badra field, which is operated by Gazprom Neft. This new high flow-rate well (Р-05) has allowed total production at the field to nearly double to 27–28,000 bopd. More »

OneSubsea wins $60-million Shah Deniz contract

OneSubsea, a Cameron and Schlumberger company, has been awarded a contract totaling more than $60 million for the Shah Deniz Two development, operated by BP, offshore Azerbaijan. More »

Aibel secures Odfjell Drilling yard stay contract

Odfjell Drilling has awarded Aibel the yard stay contract for the Deepsea Bergen, a semi-submersible unit of enhanced Aker H-3.2 design. More »

Rosneft first-quarter net falls 35% after oil prices slumped

OAO Rosneft, Russia’s largest oil producer, said first-quarter profit fell 35% after last year’s drop in crude prices. More »

Oil holds losses below $60 amid oversupply as volatility sinks

Oil held losses below $60/bbl as near-record U.S. production prolonged an oversupply amid the lowest trading volatility in eight months. More »

Umbilicals International invests in dynamic cable production

Umbilicals International, part of the Seanamic Group, has invested over $2 millions in new cable manufacturing lines at its Houston production facility. The two lines will streamline cable production, and marks a significant expansion of the company's dynamic cable manufacturing capability. More »

Patterson-UTI Energy announced passing of Co-Founder, Glenn Patterson

Patterson-UTI Energy regretfully announced the passing of A. Glenn Patterson, one of the original founders of the company. Mr Patterson served as the President and COO of the company from 1978 until his retirement in May 2006. More »

Xodus appoints global subsurface lead

Xodus Group has promoted Andrew Sewell to the role of global subsurface lead to drive forward its global subsurface capabilities. More »

TAM introduces V0-rated cementing port collar

TAM International, an independent oilfield services company providing inflatable and swellable packers, has introduced a new V0-rated cementing port collar to complement their extensive cement integrity product line. More »

BP installs Clair Ridge topside modules

BP and its co-venturers, ConocoPhillips, Chevron and Shell, have announced the safe installation of the new Clair Ridge platform’s quarters and utilities (QU) topside modules, a major milestone in the Clair Ridge project. More »

KPO experiences the benefits of Dopeless technology in the Karachaganak field

Karachaganak Petroleum Operating (KPO) conducted a field trial in the gas condensate Karachaganak field, located in the West Kazakhstan region, to evaluate the performance of Dopeless technology. The oil and gas company jointly operated by BG Group and ENI witnessed first-hand how TenarisHydril Blue Dopeless connections improved operational efficiency, reduced the environmental impact and increased safety at the rig site. More »

Chevron turns a dollar into $325 million windfall amid oil rally

For Chevron Corp., every ripple in the global crude oil market makes a major splash. More »

Quebec becomes latest hurdle to Canada’s plans for oil exports

For a resource-rich nation eager to expand crude exports from the oil sands, Canada has been striking out lately. TransCanada’s Energy East marks the fourth time this decade an oil-sands pipeline has been mired in environmental opposition. More »

Quebec becomes latest hurdle to Canada’s plans for oil exports

For a resource-rich nation eager to expand crude exports from the oil sands, Canada has been striking out lately. TransCanada’s Energy East marks the fourth time this decade an oil-sands pipeline has been mired in environmental opposition. More »

Shell executives visit Tehran for projects if sanctions end

Royal Dutch Shell Plc executives have visited Tehran to discuss possible partnerships, the latest sign that the largest oil companies are serious about returning to Iran once a deal on the country’s nuclear program is done. More »

New approach to valve testing in subsea wells could save millions, DNV GL says

Reducing expenditure while continuing to improve safety and reduce risk is a key driver for the oil and gas industry, especially in today’s cost constrained environment. More »

Wood Group in $250-million agreement for operating services on CATS

Wood Group has entered into a $250-million agreement with Antin Infrastructure Partners (Antin IP) to provide operating services for the Central Area Transmission System (CATS) in the North Sea for up to 10 years. More »

BP installs first Clair Ridge topside modules

BP and its co-venturers, ConocoPhillips, Chevron and Shell, have announced the safe installation of the new Clair Ridge platform’s quarters and utilities (QU) topside modules, a major milestone in the Clair Ridge project. More »

WPX Energy to increase Williston basin activity

WPX Energy plans to increase its activity in the Williston basin during the second half of 2015 by resuming completions and increasing its rig count from one to three before year-end. More »

Iran seen struggling by WoodMac to restore lost oil after deal

Iran will probably struggle to restore lost crude production if it secures a deal to ease sanctions because the condition of halted fields will have deteriorated and more investment will be needed, according to Wood Mackenzie Ltd. More »

Israel gas policy heads for approval as production stalls

A forum of top Israeli ministers will meet on Thursday to try to break up a regulatory logjam stalling the development of Israel’s biggest natural gas field. More »

Still an Adolescent, Permian’s Wolfcamp Delaware offers promising adulthood as EandP operators expand development, IHS says

Located in the western portion of the Permian basin that straddles the Texas-New Mexico border, the Wolfcamp Delaware is an emerging hydrocarbon play that, according to new analysis from IHS has the economic potential to sustain select operators through this period of distressed oil prices. However, like most adolescents, it is a story of promise, potential and testing limits. More »

Woodside Petroleum offered Browse retention lease renewals

Woodside has received retention lease renewal offers for petroleum retention leases WA-28-R, WA-29-R, WA-30-R, WA-31-R, WA-32-R, TR/5 and R2, from the Commonwealth-Western Australia Offshore Petroleum Joint Authority and the WA Minister for Mines and Petroleum. Woodside has 30 days to accept the retention lease renewal offers. More »

eDrilling adds Geostreering to wellSIM

eDrilling announced that Geosteering capabilities have been added to their wellSIM. More »

HARC receives grant to develop interactive well pad site

Many people have never been on and may never have the opportunity to visit an active drilling or hydraulic fracturing site. Now, anyone with a computer can explore oil and gas development activities and encounter the numerous best practices and technologies industry can employ in order to develop reserves with less impact on the environment and communities. More »

OPEC’s crude market share fell to lowest since ’03 last year

OPEC said its share of the global crude oil market last year declined to the lowest level since 2003, underscoring the motive for the group’s current push to defend sales volumes. More »

Fugro supports Alvheim IOR well tie-in project

Fugro is providing wave measurements to support construction operations at an improved oil recovery (IOR) project on the Norwegian Continental Shelf, around 225 km west of Stavanger. More »

Vallourec announces key appointments for North America region

Vallourec announced several key appointments in its North America region. More »

Qatar Petroleum expanding overseas with focus on production

Qatar Petroleum, the world’s biggest producer of LNG, plans to expand overseas after a restructuring that included the takeover of its foreign investment arm and the firing of some workers. More »

Vertechs launches HydroGRS casing guiding tool

Vertechs Oil and Gas Technology has launched the “HydroGRS Casing Guiding Tool” which is designed to assist in getting the casing successfully to bottom in difficult environments resulting in time and cost savings. More »

Suncor drills dry hole west of Balder field in North Sea

Suncor Energy Norge AS, operator of production license 571, has completed the drilling of exploration well 25/10-13 S. The well is dry. More »

Statoil cancels contract for COSL Pioneer

Statoil has decided to cancel its contract for the COSL Pioneer some 13 months before the expiry date of August 2016, Statoil announced Wednesday. More »

Plains All American announces open season for proposed Cushing to Longview pipeline

Plains All American Pipeline, L.P. announced Tuesday that it is conducting an open season for committed capacity on a proposed new crude oil pipeline from Cushing, Oklahoma to Longview, Texas. More »

Harkand mobilizes vessel for Premier Oil in UKCS

More »

Lundin spuds Alta, Edvard Grieg appraisal wells

Lundin Petroleum’s wholly owned subsidiary Lundin Norway has commenced the drilling of its second Alta appraisal well in the Barents Sea South and the drilling of an appraisal well on Edvard Grieg field in the Norwegian North Sea. More »

Norway unions in last-chance talks to avoid strike at Knarr, Varg

Norwegian oil-rig unions and employers started government-backed mediation on Wednesday in a final bid to avoid a strike that could shut down two North Sea oil fields. More »

New federal fracing rules delayed by U.S. judge in Wyoming

New U.S. fracing safety rules set to take effect Wednesday were put on hold by a Wyoming federal judge who said he needed more evidence to decide whether to block them as requested by drillers and four western states. More »

Expro secures $100 million Tullow Oil contract win

Expro has been awarded new contracts from Tullow Oil. More »

Main theme of ONS 2016: Transition

The main theme of ONS 2016 has been decided. Transition will set the scene for the conference when the world’s energy industry gets together for ONS 2016. More »

Vertechs launched “HydroGRS Casing Guiding Tool"

Vertechs Oil and Gas Technology has launched the “HydroGRS Casing Guiding Tool” which is designed to assist in getting the casing successfully to bottom in difficult environments resulting in time and cost savings. More »

Key appointments for Vallourec’s North America region

Vallourec announced several key appointments in its North America region. More »

Crude oil rises as U.S. supplies seen falling for eighth week

Oil futures rose for a second day before a government report that may show U.S. inventories fell for an eighth week, the longest stretch of declines in seven years. More »

Iran deal will disadvantage U.S. oil, Murkowski says

U.S. Sen. Lisa Murkowski (R – Alaska) advanced her efforts to lift the current ban on most U.S. crude oil exports on Tuesday by releasing a report making the case that sanctions on Iranian oil should not be lifted without also lifting the current ban on U.S. crude oil exports. More »

Iran deal will disadvantage U.S. energy, Murkowski says

U.S. Sen. Lisa Murkowski (R – Alaska) advanced her efforts to lift the current ban on most U.S. crude oil exports on Tuesday by releasing a report making the case that sanctions on Iranian oil should not be lifted without also lifting the current ban on U.S. crude oil exports. More »

Schlumberger introduces Depth Domain Inversion Services

Schlumberger has announced the launch of the Depth Domain Inversion Services. Schlumberger petrotechnical experts use the services to improve the reliability and consistency of seismic structural and quantitative interpretation in complex environments. More »

Optimus Seventh Generation breaks into decommissioning sector

Optimus Seventh Generation, an Aberdeen headquartered behavioural change consultancy, has strengthened its safety portfolio by securing its first decommissioning contract in a six-figure agreement with a major North Sea operator. More »

Magnetrol announces higher process temperature ratings for E3 Modulevel displacer level transmitter

Magnetrol International has announced the release of the E3 Modulevel displacer level transmitter with an increased upper temperature rating. More »

Plexus announces product launch date for POS-GRIP Python Subsea Wellhead

Plexus Holdings PLC announced that it will launch its new POS-GRIP Python Subsea Wellhead during Europe’s biggest Oil and Gas trade show, ‘SPE Offshore Europe’, on Sep. 8, 2015. The new Python Subsea Wellhead, previously referred to as the “HGSS” Wellhead, has been designed to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010 and to achieve a new best in class standard for subsea wellheads that can for the first time match those of premium couplings. More »

FMC wins $297-million contract for Shah Deniz Stage 2 project

FMC Technologies has received an order from BP Exploration (Shah Deniz) Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297 million in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100 km south of Baku. More »

Seatronics names Derek Donaldson as V.P. of global operations

Seatronics Ltd. has promoted Derek Donaldson from V.P. of Asia Pacific to V.P. of global operations. More »

Key Energy Services names new president, COO

Key Energy Services has announced that Robert Drummond, 54, has joined the company as its new president and COO, effective immediately. More »

Transocean delays two ultra-deepwater drillships

Transocean, the world’s largest offshore driller, has delayed delivery of two ultra-deepwater drillships, the company announced Monday. More »

Brent forward curve is too low, Rystad says

The global oil market is tightening slowly from a peak supply and demand imbalance in second-quarter 2015, according to Rystad Energy’s latest research. The June Global Oil Market Trends Report sees insufficient oil demand growth to prevent further counter-seasonal stock building in the third and fourth quarters. More »

Coretrax invests in new base in United Arab Emirates

Coretrax has strengthened its position in the Middle East by opening an office in Abu Dhabi, its fourth base in the region. More »

Frontier fracing showdown pits Feds against Western boom states

High noon for the Obama administration’s stricter rules for fracing on public lands has arrived on the Wyoming range. More »

Russia pips Saudi Arabia in race to grab China oil market share

Russia surpassed Saudi Arabia to become China’s top crude supplier as the fight for market share in the world’s second-largest oil consumer intensifies. More »

EY announces award recipients for the EY Entrepreneur of the year 2015 awards program

EY announced the EY Entrepreneur of the year award recipients in Greater Los Angeles. This group of leading entrepreneurs was selected by an independent judging panel made up of leading founders and CEOs, many of whom are prior award recipients, private equity and venture capital investors and other regional business leaders. The award recipients were revealed at a black tie awards gala on Jun. 16, at the Beverly Hilton Hotel. Featuring a keynote address by Los Angeles Mayor Eric Garcetti and hosted by Emmy award-winning news anchor Christine Devine, the gala was attended by close to 700 of the region’s elite business leaders and entrepreneurs. More »

Key Energy Services names Robert Drummond President and COO

Key Energy Services announced that Robert Drummond, age 54, has joined the company as President and COO, effective immediately. More »

FMC, OneSubsea win Shah Deniz work

FMC Technologies has received an order from BP Exploration (Shah Deniz) Ltd. to supply subsea production systems for Well Clusters 3-5 of the Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $297 million in revenue and is in addition to the initial order for Well Clusters 1-2 received in 2014 from BP, the operator of the Shah Deniz Stage 2 project. The Shah Deniz field is located offshore in the Azerbaijan sector of the Caspian Sea, approximately 100 km south of Baku. More »

Seatronics Ltd announces Derek Donaldson as new V.P. global operations

Seatronics Ltd has promoted Derek Donaldson from V.P. Asia Pacific to V.P. global operations. More »

Plexus announces product launch date for POS-GRIP Python Subsea Wellhead

Plexus Holdings PLC announced that it will launch its new POS-GRIP Python Subsea Wellhead during Europe’s biggest Oil and Gas trade show, ‘SPE Offshore Europe’, on Sep. 8, 2015. The new Python Subsea Wellhead, previously referred to as the “HGSS” Wellhead, has been designed to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010 and to achieve a new best in class standard for subsea wellheads that can for the first time match those of premium couplings. More »

Workstrings International announces global expansion

Workstrings International announced the completion of global expansion projects in Africa, the United States and the United Kingdom. These expansion projects, aimed at enhancing Workstrings’ commitment to customer service, workplace safety and environmental protection, include relocation and expansion of its Takoradi, Ghana, facility; expansion of inspection amenities at its global headquarters in Broussard, Louisiana; and opening of a purpose-built inspection facility within its Aberdeen, UK, campus. More »

Aveon Offshore’s successful sail away of the Erha North Phase 2 subsea structures

Aveon Offshore has successfully completed fabrication, supported Manifold/Suction Pile testing and loaded out these components in respect of the Erha North Phase 2 project. More »

EY announces award recipients for the EY Entrepreneur of the year 2015 awards program in Greater Los Angeles

EY announced the EY Entrepreneur of the year award recipients in Greater Los Angeles. This group of leading entrepreneurs was selected by an independent judging panel made up of leading founders and CEOs, many of whom are prior award recipients, private equity and venture capital investors and other regional business leaders. The award recipients were revealed at a black tie awards gala on Jun. 16, at the Beverly Hilton Hotel. Featuring a keynote address by Los Angeles Mayor Eric Garcetti and hosted by Emmy award-winning news anchor Christine Devine, the gala was attended by close to 700 of the region’s elite business leaders and entrepreneurs. More »

Nabors announces the commercialization of AccuSteer MWD Measurement Suite

Ryan Directional Services, a Nabors company, formally announced the commercial release of the AccuSteer MWD Measurement Suite, which delivers precise downhole measurements for accurate wellbore placement and optimized drilling. More »

Tenaris to supply products and services for Statoil’s Mariner Project

Statoil has awarded Tenaris the contract for the supply of casing, tubing and all related services for the Mariner Project. More »

Tullow’s Zumba well disappoints in Norwegian Sea

Tullow Oil’s Zumba exploration well (6507/11-11) in license area PL591 in the Norwegian Sea has not encountered hydrocarbons and will now be plugged and abandoned, the London-based company said Monday. More »

OIS awarded North Sea decommissioning contract by Antrim Energy and Centrica Energy

Offshore Installation Services (OIS), an Acteon company, has been awarded a contract by Antrim Energy to decommission four subsea wells in the central North Sea. More »

BERNARD CONTROLS equips oil storage depot in Douala

End of 2014, BERNARD CONTROLS delivered and set up more than 120 explosion-proof, quarter-turn actuators (SQX models) with INTELLI+ intelligent integrated control, to automate an oil depot fire protection located in Douala (Cameroon) for SCDP. More »

OIS wins decommissioning contract from Antrim Energy, Centrica Energy

Offshore Installation Services (OIS), an Acteon company, has been awarded a contract by Antrim Energy to decommission four subsea wells in the central North Sea. The offshore scope of the campaign, which also includes six wells from Centrica Energy, will include complete offshore and onshore project management, vessel charter, equipment and personnel. More »

Lundin names Alex Schneiter as president, CEO

Lundin Petroleum announced that the Board of Directors has appointed Alex Schneiter as President and CEO of Lundin Petroleum following Ashley Heppenstall’s decision to step-down from his executive position with the company, all to be effective as of Oct. 1, 2015. More »

Siberian oil deal sees BP bet on Russia’s pivot toward China

BP Plc’s $750 million purchase of a Siberian oilfield stake is as much a bet on China as it is on Russia. More »

WPX Energy adds acreage in Gallup oil play

WPX Energy has completed the purchase of another 14,300 net acres in the San Juan basin’s Gallup oil window from an undisclosed seller for approximately $26 million. More »

Tendeka wins Austrian sandface completion contract

Tendeka has secured a contract with an international oil and gas company for the installation of sand face completion technology in Austria. More »

Speculators retreat from oil as OPEC oversupply crowds out shale

Hedge funds reduced both bullish and bearish bets on oil for a fourth week as rising OPEC output was met with forecasts for a contraction in U.S. supply. More »

Tullow Oil agrees to settle Uganda tax dispute for $250 million

Tullow Oil Plc settled a capital gains tax dispute with the government of Uganda after agreeing to pay $250 million related to a 2012 deal with Total SA and Cnooc Ltd. More »

Williams spurns $48 bn bid from Energy Transfer

Williams Cos. has rejected a $48 billion stock- based takeover offer from pipeline magnate Kelcy Warren;s Energy Transfer Equity that aims to derail a consolidation of the North American natural gas and oil hauler. More »

TGS announces participation in Monument 3D survey offshore Australia

TGS announces its participation in the 2,500 sq km Monuments 3D survey. This survey is being acquired by Dolphin Geophysical in the North Carnarvon Basin, offshore Australia. Data processing will be performed by TGS using its proven proprietary broadband technology, Clari-FiTM. More »

Alex Schneiter appointed as President and CEO of Lundin Petroleum

Lundin Petroleum announced that the Board of Directors has appointed Alex Schneiter as President and CEO of Lundin Petroleum following Ashley Heppenstall’s decision to step-down from his executive position with the company, all to be effective as of Oct. 1, 2015. More »

GulfSlope Energy awarded two offshore Gulf of Mexico lease blocks

GulfSlope Energy has received notice of award of two offshore lease blocks for which it was the high bidder at offshore lease sale 235, central Gulf of Mexico, conducted by the Bureau of Ocean Energy Management (BOEM). More »

BP to pay Rosneft $750 million for part of Siberian oilfield

BP Plc will pay OAO Rosneft $750 million for a stake in an East Siberian oil producer, following Royal Dutch Shell Plc’s plans to expand a natural gas export project in Russia. More »

U.S. rig count falls for 28th straight week: Baker Hughes

The U.S. rig count dropped for the 28th straight week Friday, according to the latest data from Baker Hughes. More »

Technip UK pleads guilty to fatal health and safety breaches

A company which pleaded guilty to a breach of regulations covering health and safety of workers has been fined over $250,000 (£160,000), the UK’s Maritime and Coastguard Agency announced Friday. More »

Twin Eagle acquires Eagle Ford crude pipeline

Twin Eagle Resource Management, LLC announced Thursday the acquisition of a 100% interest in StarMex Big Wells, LLC, a 42-mile crude oil gathering system pipeline in the Eagle Ford shale region that connects to the major long-haul pipelines in the Gardendale area. StarMex Big Wells will be renamed Twin Eagle Gardendale Pipeline, LLC. More »

Erin Energy starts production from Oyo-7 well offshore Nigeria

Erin Energy has commenced production from the Oyo-7 well, in OML 120, offshore Nigeria. Erin Energy is the operator of Oyo field and has a 100% interest in the block. More »

Rosneft, GE ink agreement on LNG cooperation

Itera, a wholly owned Rosneft subsidiary, and General Electric signed an agreement of intent regarding natural gas processing cooperation at the St. Petersburg International Economic Forum. More »

Oil and Gas UK launches video celebrating 50 years of UKCS activity

Oil and Gas UK’s annual conference, which focused on the next 40 years of the offshore industry and attracted more than 500 people, featured the launch of an animation celebrating the sector’s achievements to date. More »

Petrofac secures $400 million of repeat UKCS business

Petrofac’s Offshore Projects and Operations business unit has secured contract renewals for operations and maintenance work worth approximately $400 million on the UK Continental Shelf (UKCS). More »

Aker Solutions, Baker Hughes to cooperate on early-phase oil, gas studies

Aker Solutions and Baker Hughes have agreed to cooperate on early-phase studies to help customers improve the overall economics and value of oil and gas field developments. More »

Next threat to U.S. shale: Interest expense on $235 billion debt

The debt that fueled the U.S. shale boom now threatens to be its undoing. More »

Saudi Arabia pumps oil flat out in Citi, Goldman’s new oil order

Not content with the blow it’s dealt to U.S. oil drillers, Saudi Arabia is set to escalate the battle for market share by raising production to maximum levels. More »

Russia clinches Greece accord to build gas pipeline to Europe

Russia signed a preliminary agreement on building a natural-gas pipeline through Greece, a deal that signals strengthening ties between the countries as the crisis-stricken government in Athens is increasingly isolated from the rest of Europe. More »

BP, Rosneft ink production, exploration agreements

Rosneft and BP have signed several agreements strengthening the long term strategic relationship between the two companies, at the St. Petersburg International Economic Forum. More »

Parsons to help develop response plans for crude oil transportation incidents

Parsons is pleased to announce that its team—consisting of OBG and Gallagher Marine Systems—has been selected by the New York State Department of Environmental Conservation (NYSDEC) to help develop individual geographic response plans for emergencies caused by crude oil trains. More »

Saudi April crude exports drop as more supply used locally

Saudi Arabia reduced crude oil exports in April as the world’s biggest producer used record supplies domestically for a burgeoning refining industry. More »

Upstream projects remain strong in Kazakhstan while Azerbaijan’s crude declines: GlobalData

While Kazakhstan and Azerbaijan have added over 1 MMbpd to the world’s oil supply since 2005, the two countries are now diverging in their ability to grow production and influence global supply, according to an analyst with research and consulting firm GlobalData. More »

DNV GL research shows bright future for subsea processing

DNV GL launched a research paper Thursday exploring the viability of moving offshore oil and gas processing subsea, including the techno-economics of an ‘all subsea’ solution. More »

Peterson, Veolia to develop UK decommissioning facility for Southern North Sea

Peterson, in partnership with Veolia has announced a $1.59 million (£ 1 million) investment in the development of a new, purpose built decommissioning facility in Great Yarmouth. More »

Wintershall announces first gas from L6-B in Dutch North Sea

Wintershall is expanding its natural gas production in the Netherlands: the unmanned mini-platform L6-B has started to produce natural gas off the Dutch North Sea coast. More »

Wintershall wildcat strikes out in North Sea

Wintershall Norge, operator of production license 378, is in the process of completing the drilling of wildcat well 35/12-5 S. The well was drilled about 15 km southwest of Gjøa field in the North Sea and 80 km southwest of Florø. More »

Harkand secures UKCS decommissioning work for Maersk Oil

Harkand has commenced decommissioning work on the United Kingdom Continental Shelf in support of Maersk Oil UK’s work in Leadon field. More »

Wintershall selling selected assets on NCS

Wintershall, a wholly owned BASF subsidiary, is divesting assets in four non-operated fields—Knarr, Veslefrikk, Ivar Aasen and Yme—on the Norwegian Continental Shelf to Tellus Petroleum AS. More »

Wood Group awarded Saudi Aramco offshore contract

Wood Group has been awarded an offshore maintain potential program contract by Saudi Aramco for greenfield and brownfield engineering services, procurement, and construction management support for new facilities in the Arabian Gulf. More »

Crude futures hold near $60 as investors weigh glut in supply

Oil traded near $60/bbl as investors weighed the pace at which a U.S. supply glut is diminishing. More »

Oil-sands megaproject era wanes as Suncor to Imperial scale down

The era of the megaproject in Canada’s oil sands is fading. More »

Tanzania seeks up to 85% profit share from oil, gas output

Tanzania will seek as much as an 85% share of profit from oil and gas produced in the East African nation, according to a draft law being debated in parliament. More »

Peterson, Veolia in JV to develop Great Yarmouth decommissioning facility

Peterson, in partnership with Veolia has announced a $1.59 million (£ 1 million) investment in the development of a new, purpose built decommissioning facility in Great Yarmouth. More »

NUTECH adds new XRF technology to POROLABS core analysis solutions

NUTECH has added new X-Ray Fluorescence (XRF) technologies to its proprietary POROLABS core analysis solutions for identifying the characteristics and composition of rock to confirm the mineralogy of the strata. More »

Canadian natural considers shift away from Alberta on levies

Canadian Natural Resources, the nation’s largest heavy oil producer, is considering a shift in investment away from Alberta as the province plans to increase corporate taxes and review royalties. More »

ONGC Videsh seeks 20-fold increase in spending allowance for MandA

ONGC Videsh Ltd., the overseas unit of India’s biggest oil and gas explorer, is seeking a 20-fold increase in the amount it’s allowed to spend on acquisitions without state approval. More »

Wood Group Kenny secures KPOC pipeline contract

Wood Group Kenny (WGK) will support the Kebabangan Petroleum Operating Company (KPOC) in pipeline engineering and flow assurance engineering studies for the Kamansu East (KME) field offshore Sabah, Malaysia. More »

Ross Philo joins Energistics as president, CEO

Energistics announced Wednesday that Ross Philo has joined the company as its new president and CEO. More »

Total launches an international robotics challenge

TOTAL EandP RandD has launched an international surface robotics challenge called the ARGOS challenge (Autonomous Robot for Gas and Oil Sites) in collaboration with the French National Research Agency (ANR). More »

Murkowski presses U.S. Energy Department nominees on energy exports, Arctic opportunities

U.S. Sen. Lisa Murkowski, R-Alaska, has questioned President Obama’s nominees for the Department of Energy (DOE) on the department’s plans to increase American energy exports and expand opportunities for energy production in the Arctic. More »

Bets Israel gas dispute may end send Delek Group to 6-month high

Delek Group Ltd. rose to the highest since December as investors discerned an end to months of regulatory uncertainty that halted development of Israel’s offshore natural gas fields. More »

North Sea must become sustainable at $60/bbl, Oil and Gas UK says

Oil and Gas UK’s chief executive, Deirdre Michie, warned Wednesday that the UK offshore oil and gas industry must become sustainable “in a world of $60 oil.” More »

Lundin spuds Luno II North exploration well offshore Norway

Lundin Norway, Lundin Petroleum’s wholly owned subsidiary, has commenced drilling of exploration well 16/4-9 S on the Luno II North prospect. More »

U.S. oil trading set to surpass Brent as shale boosts clout

Trading volume in New York oil futures is overtaking London’s Brent as the shale boom bolsters the U.S. benchmark’s clout in global crude markets. More »

OPEC revenue slumps below $1 trillion first time since 2010

OPEC nations’ revenue from petroleum exports plunged below $1 trillion last year for the first time since 2010, highlighting how slumping crude prices hurt countries reliant on oil sales to fund their economies. More »

Sen. Murkowski presses Energy Department nominees on energy exports, Arctic opportunities

U.S. Sen. Lisa Murkowski, R-Alaska, has questioned President Obama’s nominees for the Department of Energy (DOE) on the department’s plans to increase American energy exports and expand opportunities for energy production in the Arctic. More »

Petrobras CEO said to back Energy Minister’s pre-salt plan

Petroleo Brasileiro management is supporting a proposal to remove its obligation to operate all oilfields in Brazil’s so-called pre-salt offshore area, according to two people briefed on the matter. More »

Shell Arctic approval near as regulator sees no show stopper

Royal Dutch Shell has received U.S. permission to disturb marine mammals as part of its plan to resume oil exploration off Alaska’s Arctic coast as it neared final sign-off from regulators to drill this summer. More »

Shell-BG merger clears U.S. antitrust hurdle

Royal Dutch Shell announced Tuesday that its recommended combination with BG Group plc has cleared its first antitrust hurdle by receiving early termination of the U.S. antitrust waiting period from the United States Federal Trade Commission (FTC). More »

EMGS cutting workforce by fifth as company aims to halve 2015 Capex

Electromagnetic Geoservices is to implement further cost reductions in response to the challenging market conditions facing the oil service industry, the company announced Tuesday. More »

Houston’s filet mignon special shows oil collapse is no problem

Thirty years ago, times were so tough in Houston that Steve Zimmerman introduced the Oil Barrel Special, a three-course lunch tied to the plummeting price of crude. More »

Production underway at Exxon Mobil’s Kearl oil sands expansion project

Exxon Mobil Corp. announced Tuesday that production at its Kearl oil sands expansion project in Alberta, Canada, started ahead of schedule and is expected to double overall capacity to 220,000 bpd of bitumen. More »

ABS to class newbuild semisubmersible, liftboat

ABS, a provider of marine and offshore classification services, has been selected by Baoham Offshore (HK) Ltd. to class a drilling semisubmersible and a liftboat. More »

CARBO proppant technologies prove worth in deepwater Gulf of Mexico

HOUSTON -- CARBO Ceramics Inc. has announced the successful application of two of its innovative proppant technologies, KRYPTOSPHERE HD and SCALEGUARD, for a major EandP operator in the Gulf of Mexico's Lower Tertiary trend, marking the largest and deepest job for these proprietary technologies to date. More »

Amec Foster Wheeler appoints new president, Upstream Business Development

LONDON -- Amec Foster Wheeler has announced the appointment of George Hernandez as president, Upstream Business Development, effective immediately. More »

AGR releases multi-disciplinary well data software

AGR has released new functionality for its bespoke well data software, iQx that will improve the analysis of spatial well data from more than 6,000 wells drilled on the Norwegian Continental Shelf. More »

New PandA guideline from DNV GL could save industry over $32 bn

The plugging and abandonment (PandA) of offshore wells represents a significant cost to operating companies and national authorities. On the Norwegian Continental Shelf (NCS) alone, the cost is estimated to be $108 billion over the next 40 years. More »

Emerson enhances reservoir modeling software to help operators maximize the value of reservoir assets

Emerson Process Management has launched the latest version of its reservoir modeling software, Roxar RMS. More »

Tropical Storm Bill heads for Texas as oil workers evacuated

Tropical Storm Bill formed in the Gulf of Mexico, leaving Texas bracing for another round of flooding in less than a month. More »

Longest oil glut in decades looms as OPEC lifts market share

The world is on the brink of the longest-lasting oil glut in at least three decades and OPEC’s quest for market share makes it almost unavoidable. More »

Statoil to lose up to 2,000 more jobs after crude’s collapse

Statoil ASA, Norway’s state-controlled oil producer, will cut as many as 2,000 more jobs by the end of next year as it reacts to lower crude prices by slashing costs. More »

Ceona names new CEO

Ceona, a SURF contractor with deepwater subsea construction capabilities, has announced that Mark Preece, the company’s executive V.P., commercial and business development, has been appointed as CEO. More »

Energean to conduct 3D seismic survey in the Gulf of Kavala

Energean Oil and Gas has announced that it is to conduct a new 3D seismic survey over the Prinos Oil field and its surrounding licenses, in the Gulf of Kavala, North Eastern Greece. More »

Maxxam Analytics and Analysts Inc. to launch new lubricant and oil analysis laboratory in Alberta

Maxxam Analytics and Analysts, Inc. are jointly opening a new testing facility in Edmonton, Alberta which provides lubricant and oil analysis services commencing a global expansion of oil condition monitoring (OCM) services for parent company, Bureau Veritas. More »

Maxxam Analytics and Analysts Inc. combine expertise to launch new lubricant and oil analysis laboratory

Maxxam Analytics and Analysts, Inc. are jointly opening a new testing facility in Edmonton, Alberta which provides lubricant and oil analysis services commencing a global expansion of oil condition monitoring (OCM) services for parent company, Bureau Veritas. More »

New role for strategic oil reserve seen by U.S. Energy Secretary

The Strategic Petroleum Reserve should be tapped to ease global oil-price shocks and not be limited to easing U.S. supply emergencies, Energy Secretary Ernest Moniz said Monday. More »

AFGlobal promotes Curtis Samford to CEO

AFGlobal Corporation announced that Curtis Samford, the Company’s COO, will assume the role of president and CEO of the Company. More »

Halliburton introduces Illusion frac plug

HOUSTON -- Halliburton’s Completion Tools business line, a long-standing industry leader in total composite plug technology, has introduced the Illusion frac plug, the only fully dissolvable frac plug on the market. More »

J2 Subsea opens new subsea tooling facility in Houston

J2 Subsea, an Acteon company, has opened a new subsea tooling facility at sister Acteon company, Seatronics’, subsea electronics location in Houston. More »

Cuadrilla set to get go-ahead to drill at UK shale site

Cuadrilla Resources Ltd., the driller whose fracing ambitions have sparked protests in the UK, took a step closer to sinking a shale-gas well in northwest England as council planners backed the project. More »

Plexus Holdings PLC secures £3.3 million contract

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that it has secured a new customer via a £3.3 million contract win with oil and gas major, Total EandP Norge AS (Total), to supply its POS-GRIP wellhead systems, associated equipment and mudline services for Total’s Ultra High Pressure/High Temperature (X-HP/HT) Solaris gas exploration well in the Graben area of the North Sea, offshore Norway. More »

Sparrows Group appoints experienced director to oversee Americas growth

The Sparrows Group has boosted its senior management team with the appointment of an experienced director to head up its operations across the Americas. More »

Unimin commences unit train service to Marcellus

Unimin Energy Solutions announced Monday the first delivery of frac sands by unit train to its Jerry Run, West Virginia terminal. More »

Billionaire seeks BHP-style conglomerate in Vedanta deal

Billionaire Anil Agarwal’s move to merge his two Indian units will create a national natural resources group to compete with BHP Billiton Ltd. and Vale SA. More »

PNG LNG achieves 100th LNG cargo

The 100th cargo of LNG from the PNG LNG project, operated by Exxon Mobil PNG Limited, set sail this weekend, just over one year on from the start of export operations. More »

Statoil awards Johan Sverdrup contracts to Odfjell Drilling

Statoil, on behalf of the Johan Sverdrup license, has awarded two contracts, at a total value of more than NOK 4.35 billion, to Odfjell Drilling for drilling wells on Johan Sverdrup field. More »

Petrobras sets new records for pre-salt production

Petrobras’ pre-salt production in May set two new monthly output records, the company said Friday. More »

TGS announces first multi-client 3D program in Newfoundland-Labrador

TGS has announced a new multi-client 3D survey offshore Eastern Canada, with plans to acquire approximately 6,000 km2 of seismic data. This survey is in partnership with PGS. More »

Oil traders lose faith in rally as OPEC nations pump at records

Speculators reduced bullish wagers on oil to the lowest level in eight weeks as OPEC’s biggest members pumped record amounts of crude. More »

ENOC to buy Dragon Oil for $2.6 billion after increasing bid

Emirates National Oil Co. agreed to buy Dragon Oil Plc for 1.7 billion pounds ($2.6 billion), gaining control over wells in Turkmenistan and exploration projects from Algeria to Iraq. More »

Frames, Novasep introduce Waste-Free Inhibitor Salt Extraction system

Frames and Novasep have jointly developed an easier solution to protect new and existing production facilities from damage caused by salt build-up. More »

Fjords Processing wins supplier award from GE

Fjords Processing was recently honored by General Electric (GE) through its supplier award, Excellence in Customer Centricity. The prestigious award recognizes suppliers that consistently meet the sourcing critical to quality and price, delivery quality, and demonstrates flexibility and responsiveness to GE. More »

Oil drops a third day as Libyan production adds to global glut

Oil fell for a third day as rising Libyan output added to speculation that unyielding OPEC production will prolong a global glut. More »

Floater retirements to reach historical high, Rystad says

Rystad Energy’s latest research indicates that 88 units within the floater market will have to be taken out between 2015 and 2017, making it the largest ever retirement cycle in the history of offshore drilling. More »

Lundin finds oil, gas with Alta appraisal wells in Barents Sea

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Lundin finds oil, gas with Alta appraisal well in Barents Sea

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Pacific Drilling draws interest as cheap deepwater target

HOUSTON -- Pacific Drilling SA, an offshore oil-rig contractor, is gaining notice as a takeover candidate. More »

Petrobras finishes investigation of FPSO explosion

Petrobras has completed an analysis of the factors that contributed to the fatal accident on board the Cidade de São Mateus FPSO in February, the company announced Friday. More »

Pacific NorthWest LNG gives conditional green light for BC project

Pacific NorthWest LNG (PNW LNG) announced Thursday that the required technical and commercial components of the project have been satisfied. More »

Aqualis Offshore signs contract with ONGC

Aqualis Offshore, part of Aqualis ASA, has been reappointed by United India Insurance Company to provide marine warranty services to the Oil and Natural Gas Corporation Limited (ONGC) offshore India. More »

Cubility signs multi-million dollar Johan Sverdrup deal

Cubility AS has announced a multi-million dollar deal to provide the MudCube solution to Norwegian operator, Statoil for installation on Johan Sverdrup field. More »

Iran seeks $100 billion for gas as world fixates on nation’s oil

Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions. More »

Chevron completes its largest seismic survey in Aussie oil hunt

Chevron is studying data from its largest-ever seismic survey to decide where to drill for oil in an untapped frontier off southern Australia. More »

Lundin completes drilling of Alta appraisal wells, encounters oil and gas

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Aker Solutions to cut jobs in Norway

Aker Solutions has notified employees at its subsea services facility in Ågotnes, Norway, that it has become necessary to adjust the plant’s workforce capacity because of a decline in activity in the Norwegian market. More »

Vallourec celebrates 50 years of VAM

Vallourec is celebrating 50 years of its VAM premium connections. More »

Hess sells half of Bakken processing unit for $2.68 billion

Hess Corp., the most active oil driller in North Dakota’s Bakken last year, agreed to sell a 50% stake in its processing and pipeline unit in the region to private equity firm Global Infrastructure Partners for $2.675 billion in cash. More »

Nigeria power plans hinge on overcoming gas pipeline attacks

For Nigeria’s state-owned energy company, supplying gas to power plants around the country depends on fixing pipelines quicker than they get ruptured. More »

Statoil awards Mariner production chemicals contract to Baker Hughes

Statoil (U.K.) Limited has awarded the contract for production chemicals and services for Mariner field to Baker Hughes Limited in the UK. More »

Two-thirds of North Sea operators canned projects due to oil slump, survey finds

Two-thirds of North Sea oil and gas industry operators (67%) have been forced to cancel projects because of the recent fall in oil price, according to an industry report published Thursday. More »

Foster Creek oil sands returns to operations after forest fire, Cenovus says

Cenovus Energy has returned to normal operations at its Foster Creek oil sands project in northern Alberta after a forest fire on the Cold Lake Air Weapons Range (CLAWR) led to the precautionary shutdown of the operation on May 23 for 11 full days. More »

Delta SubSea, Zerlux collaborate on laser-based hydrate remediation tech

Delta SubSea (DSS) has signed a memorandum of understanding with Zerlux Hungary Kft. to intensify collaboration on Laser Based Hydrate Remediation Technology. More »

Technip bags Chevron subsea contract in Gulf of Mexico

Technip has been awarded a lump-sum project for the decommissioning of the brownfield development and installation of new subsea equipment supporting a floating production system, located in Mississippi Canyon in the Gulf of Mexico, in a water depth of approximately 2,000 m, by Chevron North America Exploration and Production, a division of Chevron U.S. Inc. More »

How Apache CEO is beating the crash, OPEC and a spendthrift past

Apache Corp. CEO John Christmann didn’t just get a new job when he took charge of one of the world’s biggest shale producers in the dark days of the oil market crash in January, he signed on to a corporate makeover. More »

Spectrum kicks off 2D survey offshore Mexico

Spectrum announced Thursday that their vessel has arrived in Mexico and started the acquisition of their Gulf of Mexico 2D campaign, in collaboration with Schlumberger. More »

Petrofac awarded engineering and procurement contract in Oman

Petrofac has been awarded an engineering and procurement contract by Petroleum Development Oman (PDO) to provide services for its Yibal Khuff project, a field located approximately 350 km southwest of Muscat in the Sultanate of Oman. More »

Cheniere planning two new LNG project developments

Cheniere Energy announced two significant LNG project developments Wednesday that, if completed, are projected to add up to approximately 19 mtpa of incremental LNG production capacity and would bring Cheniere's aggregate nominal LNG production capacity to approximately 60 mtpa by 2025. More »

Hackers’ favorite target: Big oil and that deadly equipment

Hackers have made the energy industry a favorite target. More »

Pemex reports largest oil find in 5 years in Gulf of Mexico

Petroleos Mexicanos, the world’s ninth-largest oil producer, announced its biggest discovery in five years as the state-owned company seeks to reverse its decade-long decline in production. More »

Oil falls as IEA says price-rally under threat amid OPEC boost

Oil fell after the International Energy Agency said this year’s price rally is under threat as OPEC’s biggest members pump record amounts of crude. More »

Delta SubSea, Zerlux collaborate on Laser Based Hydrate Remediation Technology

Delta SubSea (DSS) has signed a memorandum of understanding with Zerlux Hungary Kft. to intensify collaboration on Laser Based Hydrate Remediation Technology. More »

Trelleborg launches Buoyancy repair service in Africa

Trelleborg’s offshore operation has formalized its Drill Riser Buoyancy Modules (DRBM) repair offering in Africa, following its collaboration with flotation repair provider, ProFloat. More »

Caterpillar supplies Propell Oilfield Equipment with all Cat components

Caterpillar Oil and Gas has outfitted a well stimulation trailer for Propell Oilfield Equipment with all Cat components for the first time in its noted history. More »

Technip bags subsea decommissioning and installation contract in GoM from Chevron

Technip has been awarded a lump sum project for the decommissioning of the brownfield development and installation of new subsea equipment supporting a floating production system located in Mississippi Canyon, Gulf of Mexico in a water depth of approximately 2,000 m by Chevron North America Exploration and Production, a division of Chevron U.S. Inc. More »

Chevron hunts for answers on why Big Foot startup stumbled

An equipment failure that’s delayed Chevron’s $5.1 billion Big Foot deepwater oil project will reduce the company’s production by less than 25,000 bpd in 2017, the company said. More »

How an oil CEO is beating the crash, OPEC and a spendthrift past

Apache Corp. CEO John Christmann didn’t just get a new job when he took charge of one of the world’s biggest shale producers in the dark days of the oil market crash in January, he signed on to a corporate makeover. More »

Chevron seeks answers on why Big Foot stumbled before start

An equipment failure that’s delayed Chevron Corp.’s $5.1 billion Big Foot deepwater oil project will reduce the company’s production target by less than 25,000 bopd in 2017, the company said. More »

Northern Petroleum gains environmental approvals from Italian government

Northern Petroleum's environmental impact assessment (EIA) for the acquisition of 3D seismic data across the Giove undeveloped oil discovery and the Cygnus exploration prospect in the southern Adriatic has been approved by the Italian regulatory authorities. More »

Suncor spuds Niobe exploration well, Noreco reports

The Norwegian Energy Company (Noreco) has announced that the drilling of the Niobe exploration well, in UK license P1889, has started. More »

Chinese NOCs face weaker gas demand, oversupply: Wood Mac

Chinese national oil companies (NOCs) are assessing how best to optimize their diverse supply portfolios as gas demand disappoints, leading to an oversupplied market with weaker prices. More »

Steel jacket installed for Ivar Aasen platform, Det norske says

The steel jacket for the Ivar Aasen platform has been successfully installed and is now ready to be completed with the platform deck, which is under production at the SMOE yard in Singapore, Norway’s Det norske announced Wednesday. More »

NorSea Group wins decommissioning contract for North Sea fields

NorSea Group (UK) Limited has won northeast Scotland’s first major “small piece” decommissioning contract. More »

Swire Oilfield Services names new CFO

Swire Oilfield Services, the world’s largest supplier of offshore cargo carrying units and a leading supplier of cargo carrying solutions, modular systems, fluid management and offshore aviation services, has appointed Roy Shearer as the company’s new CFO. More »

Saudi Arabia keeps pumping at three-decade high as shale buckles

Saudi Arabia, the world’s biggest oil exporter, told OPEC that it kept pumping the most crude in three decades last month amid growing signs that the 12-nation group’s quest to maintain market share is working. More »

Lukoil first-quarter profit slides 60% following crude drop

OAO Lukoil, Russia’s largest non-state oil producer, said first-quarter profit dropped 60% after crude prices slumped. More »

Suncor Energy spuds Niobe exploration well: Noreco

The Norwegian Energy Company (Noreco) has announced that drilling of the Niobe exploration well in UK license P1889, in the North Sea, has started. More »

InterOil resumes drilling at Wahoo in Papua New Guinea

More »

U.S. ousts Russia as world’s top oil, gas producer in BP report

The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields. More »

Lundin to drill appraisal well in Norwegian North Sea

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for well 16/1-23 S, in the Norwegian North Sea. More »

Northern Petroleum's EIA gains approval for 3D seismic of Giove, Cygnus off Italy

Northern Petroleum's environmental impact assessment (EIA) for the acquisition of 3D seismic data across the Giove undeveloped oil discovery and the Cygnus exploration prospect in the southern Adriatic has been approved by the Italian regulatory authorities. More »

U.S. oil production to peak at 43-year high before trailing off

More »

Ukraine seeks new Russia gas deal to avoid disruption to EU supply

Ukraine needs to negotiate a new natural-gas deal with Russia just as the conflict between the two countries risks escalating again. More »

Canada energy group cuts oil output forecast as outlays drop

The Canadian Association of Petroleum Producers (CAPP) cut its 2030 oil production forecast by 17% as capital expenditures slipped after crude prices tumbled. More »

Murkowski report makes case to end U.S. oil export ban

U.S. Sen. Lisa Murkowski (R – Alaska) has advanced her efforts to end the current prohibition on most U.S. crude oil exports in a report entitled Rendering Vital Assistance: Allowing Oil Shipments to U.S. Allies. More »

TimkenSteel starts construction of $40-million Ohio facility

TimkenSteel has started construction on an advanced quench-and-temper facility in Northeast Ohio that will produce more value-added steel for demanding applications, the company announced Tuesday. More »

Lewek Constellation sets industry pipelay record in deepwater GoM

EMAS AMC, the subsea division of EMAS, has announced that its flagship subsea construction vessel, Lewek Constellation, has established an industry record for pipelay in the U.S. Gulf of Mexico (GoM). More »

Bechtel to quadruple Queensland LNG production this year

Bechtel is on track to complete the construction of an additional three LNG production trains on Curtis Island by the end of 2015, quadrupling Queensland’s LNG production. More »

Installation of Åsgard subsea gas compression modules underway, Statoil says

The installation of the modules that collectively constitute Åsgard field's subsea gas compression system has commenced, Statoil announced Tuesday. More »

Great Western Oil and Gas expands presence in Wattenberg field

Great Western Petroleum, a subsidiary of Great Western Oil and Gas Company, an affiliate of The Broe Group, with active operations in the Denver-Julesburg basin in Colorado, has purchased approximately 6,000 acres and eight producing wells in Wattenberg field. More »

Statoil reports third gas discovery in Aasta Hansteen area

Statoil and its partners in PL602 have made a new gas discovery in the Gymir prospect. The find represents the third discovery in three months in the Aasta Hansteen area. More »

Maersk Training signs global training agreement with Seadrill

Maersk Training has entered into an agreement with Seadrill, one of the largest drilling companies in the world. More »

Repsol signs up to European oil group’s stance on climate change

Repsol SA joined its European peers in calling for governments to agree on carbon pricing at a United Nations climate summit later this year, expanding the group of energy companies seeking a voice at the meeting. More »

Oil Rises as shale drillers seen succumbing to OPEC onslaught

Oil gained for the second time in three days amid growing signs U.S. shale oil producers are succumbing to the Organization of Petroleum Exporting Countries’ quest to defend its share of the global crude market. More »

UK oil executive starts $5 billion private-equity group

Sam Laidlaw, former Centrica Plc Chief, and private equity’s Carlyle Group and CVC Capital Partners plan $5 billion of oil and gas investments to benefit from asset sales by industry giants in the wake of slumping crude prices. More »

Suretank appoints William Wilson as sales manager for Norway

Suretank, provider of engineered solutions to the offshore oil and gas industry, has appointed William Wilson as sales manager for Norway. More »

EMAS AMC’s Lewek Constellation sets industry pipelay record during sea trials in the U.S. GoM

EMAS AMC, the subsea division of EMAS has announced that its flagship subsea construction vessel, Lewek Constellation, has established an industry record for pipelay in the U.S. Gulf of Mexico (GoM). More »

AGSL to provide its Asset Guardian software to McDermott's pipelay vessels

Asset Guardian Solutions Ltd. (AGSL) has received a contract from McDermott Asia Pacific to provide its Asset Guardian software management toolset to the company. More »

Paradigm enhances user productivity with the release of Paradigm 15

Paradigm has released Paradigm 15, the latest extension of its comprehensive solution suite, aimed at enhancing user productivity. More »

Compact Compression launches new line of Hydraulic Casing Gas compressors

Compact Compression Inc. is announcing the commercial roll out of the Hydraulic Casing Gas (HCG) line of Solution Gas compressors. More »

Dana Gas kicks off Egyptian drilling campaign

Dana Gas has commenced drilling the Balsam-2 development well in the Balsam Development lease, onshore the Nile delta, the company announced Sunday. More »

America’s shale oil boom grinding to halt as OPEC stands pat

The shale oil boom that turned the U.S. into the world’s largest fuel exporter and brought $3 gasoline back to America’s pumps is grinding to a halt. More »

Mitra Energy commences 3D seismic acquisition offshore Vietnam

Mitra Energy, through its subsidiary operating company Mitra Energy (Vietnam Phu Khanh), commenced 3D seismic survey acquisition operations in the Block 127 PSC area, offshore Vietnam. More »

Rockwater appoints Holli Ladhani President and CEO

Rockwater Energy Solutions, Inc., a water management and chemical technologies solutions provider to the oilfield industry, announced today that Holli Ladhani, former EVP and CFO, and most recently EVP of Rockwater’s Chemical Technologies segment, has been appointed President and CEO of Rockwater, as well as a member of the Board of Directors. More »

UKOOG, GMB reach landmark agreement on shale gas

UKOOG—the representative body for the UK onshore oil and gas industry—and the GMB trade union have announced the agreement of a joint charter on shale gas, focusing on safety, skills and supply chain development. More »

Statoil awards contract for Johan Sverdrup utility, living quarters

Statoil, on behalf of the Johan Sverdrup partnership, has signed a contract with a joint venture consisting of Kvaerner and KBR for the construction of the topside for the utility and living quarters platform. The contract includes engineering, procurement and construction (EPC) of the topside. More »

Governments under pressure to adjust upstream fiscal terms in response to oil price drop

In a new two-part study, Wood Mackenzie explores the implications of the current low oil price for upstream fiscal terms. Governments dependent on oil taxation income are wrestling with lower oil revenues for public spending and pressure from oil and gas companies for more lenient terms. More »

PetroQuest Energy sells Arkoma assets for $280 million

PetroQuest Energy, Inc. has announced the closing of the sale of the majority of its interests in the Woodford and Mississippian Lime for gross proceeds of $280 million. More »

Nigeria could boost oil output with changed funding, Seplat says

Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with energy companies, according to Seplat Petroleum Development Co. More »

Dana Gas kicks off Egptian drilling campaign

Dana Gas has commenced drilling the Balsam-2 development well in the Balsam Development lease, onshore the Nile delta, the company announced Sunday. More »

Dana Gas starts Egptian drilling campaign

Dana Gas has commenced drilling the Balsam-2 development well in the Balsam Development lease, onshore the Nile delta, the company announced Sunday. More »

IWCF creates new role to lead technology development

The International Well Control Forum (IWCF), the independent organization that sets international well control standards, has appointed David Conroy as its first chief technical officer (CTO). More »

Tendeka invests in bespoke U.S. facility

Tendeka has bolstered its U.S. presence in a strategic move which sees the company open a global completions, manufacturing and operations facility. More »

Shell’s Chuchki Sea campaign could dictate U.S. crude supply for decades: DW Monday

Despite surging production from U.S. shale plays, the scale of long-term production remains uncertain, leading to the question of where will be the next major play? Attention is being focused on Arctic Alaska, where reserves are waiting to be exploited. More »

Iran vows more oil exports in sign OPEC to keep exceeding target

More »

Apply Leirvik to build Johan Sverdrup Accomodation module

The K2JV joint venture (Kvaerner and KBR) and Apply Leirvik have signed a contract for an EPC (Engineering, Procurement and Construction) delivery of the Johan Sverdrup Accommodation module. The value of the contract is estimated at around $250 million (NOK 2 billion), this is its largest contract ever. More »

Delmar Systems creates new RandD team

Delmar Systems has created a new RandD team dedicated to developing innovative mooring and subsea technology. More »

PetroQuest Energy sells Arkoma assets for $280 million; provides borrowing base, operations and production updates

PetroQuest Energy, Inc. has announced the closing of the sale of the majority of its interests in the Woodford and Mississippian Lime for gross proceeds of $280 million. More »

Saudi Arabia isn’t trying to curb U.S. oil firms, Petraeus says

Saudi Arabia is trying to maintain its share of the global oil market rather than use its power in OPEC to curb U.S. producers, according to David Petraeus, former director of the Central Intelligence Agency. More »

Brazil to ease oil company fines for Buy-Brazil breaches

Brazil’s oil regulator plans to ease future fines for producers who fail to meet strict local-content guidelines as the country seeks to accelerate development of offshore oil and gas resources. More »

Ex-BP executive acquitted of lying about size of Macondo spill

A former BP Plc executive charged with lying to investigators about the 2010 Gulf of Mexico oil spill was acquitted by a New Orleans jury, a blow to prosecutors as the company awaits word on billions of dollars in potential fines for the disaster. More »

Oil’s slide gives senior lenders upper hand in bankruptcy talks

Tumbling oil prices have helped put asset-based senior lenders in the driver’s seat when it comes to restructuring distressed energy companies. More »

Apache Corp. completes sale of Australian operations

Apache Corp. has completed the sale of its Australian subsidiary, Apache Energy Limited, to a consortium of private equity funds managed by Macquarie Corporate Holdings Limited and Brookfield Asset Management Inc. More »

Atwood Oceanics names new CFO

Atwood Oceanics, Inc. has appointed Mark W. Smith as the company's senior V.P. and CFO, the Houston-based company has announced. More »

India’s oil addiction to vault nation into top three global guzzlers

India’s growing middle class will soon make it the third-biggest oil consumer, reshaping the global energy map as China uses less and the U.S. produces more. More »

OPEC unyielding in plan to stifle rivals as crude keeps gushing

OPEC again agreed to cede no ground to rival producers, keeping its faith that U.S. shale drillers and other higher-cost rivals will capitulate first. More »

The time to end oil export ban is now, Murkowski tells U.S. Senate

U.S. Senator Lisa Murkowski (R - Alaska) highlighted the importance of allowing American crude oil to compete in the global marketplace Thursday and said that lifting the ban on oil exports was a “crucial issue” at the intersection of national security and energy policy. More »

Indonesia joins line for Iran oil amid talks to rejoin OPEC

Indonesia is seeking a long-term oil supply deal with Iran in anticipation of a possible end to sanctions against the Persian Gulf nation over its nuclear program. More »

Schlumberger report upgrades Gatwick Airport oil find

UK Oil and Gas Investments announced Friday that Schlumberger has independently assessed the petrophysics of the Horse Hill-1 well (HH-1). The well is located in PEDL137, in the Weald basin, near to London’s Gatwick Airport. UKOG has a net attributable interest of 20.358% in PEDL137. More »

Fracing study undercuts environmentalists’ calls for regulation

It was always a longshot that the Obama administration or Congress would crack down on the golden goose of hydraulic fracturing. More »

Cenovus buys rail loading terminal from Canexus for $75 million

Cenovus Energy Inc. has agreed to purchase Canexus Corporation's North American Terminal Operations (NATO), a crude-by-rail trans-loading facility, for $75 million, subject to adjustments. More »

$16.5 million settlement reached in crude oil commodities and antitrust litigation

Two London-based companies and certain employees involved in trading West Texas Intermediate crude oil (WTI) and oil futures have agreed to pay $16.5 million to settle a lawsuit accusing the defendants of artificially manipulating the price of oil in order to reap huge profits. More »

The time to end crude oil export ban is now, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska, on Thursday highlighted the importance of allowing American crude oil to compete in the global marketplace and said that lifting the ban on oil exports was a “crucial issue” at the intersection of national security and energy policy. More »

Woodside to investigate LNG developments in Texas

Woodside Energy (USA) Inc. (WUSA), an affiliate of Woodside, has entered into a non-binding Memorandum Of Understanding (MOU) with Sempra LNG, an affiliate of Sempra Energy. More »

India’s oil addiction to vault nation into top thee global guzzlers

India’s growing middle class will soon make it the third-biggest oil consumer, reshaping the global energy map as China uses less and the U.S. produces more. More »

Pilfering data shows stakes are high in Colombia offshore quest

Untapped offshore deposits are so important to Colombia’s flagging oil industry that some people aren’t waiting for the release of exploration results. Thieves made off with discs containing copies of seismic data belonging to Repsol SA and Canacol Energy Ltd. More »

IEA cuts natural gas growth outlook as Asian demand falters

Global natural gas use will rise at a slower pace than previously forecast amid lower-than-expected growth in Asian demand, said the International Energy Agency, cutting its outlook for a third consecutive year. More »

Shale’s resilience vindicates Conoco CEO on return to OPEC

When Ryan Lance, CEO of ConocoPhillips, told an OPEC conference in 2012 the industry was under-estimating shale, oil was trading near $100/bbl and his warning fell on deaf ears. More »

EPA hydraulic fracturing review confirms safety

A draft report by the Environmental Protection Agency (EPA) confirms that hydraulic fracturing has not led to widespread, systemic impacts on drinking water resources thanks to the safety and effectiveness of state and federal regulations, and current industry practices. More »

Magnitude redefines microseismic fracture monitoring and refracturing efficiency

Magnitude, a Baker Hughes company, has announced the commercial release of two new offerings, the IntelliFrac VSP-Enhanced monitoring service and the IntelliFrac Recomplete service, as part of the company’s line of IntelliFrac advanced microseismic services. More »

UK well services contractors report steady but slowing demand in '14

Demand for the expertise of well services contractors operating in UK waters remained steady according to figures in the 2015 Oil and Gas UK Well Services Contractors Report published on Jun. 3, which looks back at how the sector fared in 2014. More »

Novatek signs long-term LNG contract with Shell

OAO Novatek announced Thursday that Novatek Gas and Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project. More »

Petrofac to support new North Sea gas field operator

Petrofac has secured a contract to support Oranje-Nassau Energie (ONE) UK Limited, a subsidiary of Amsterdam-based oil and gas producer Oranje-Nassau Energie B.V., as the company has become operator of Sean gas field in the Southern North Sea as of June 1. More »

Gazprom Neft completes first winter sea shipments of oil from Yamal

Initiated in February 2015, Gazprom Neft has completed its first winter shipments of oil from Novoportovskoye field, becoming the first company in the Russian oil and gas sector to dispatch oil from Yamal by sea under winter conditions. More »

Lundin’s Morkel wildcat disappoints offshore Norway

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has completed the drilling of wildcat well 33/2-2 S. More »

McDermott wins Ayatsil-C EPCI contract from PEMEX

McDermott International has been awarded an offshore contract by Petróleos Mexicanos (PEMEX) for the engineering, procurement, construction, installation (EPCI) and pre-commissioning of the Ayatsil-C replacement jacket and associated deck installation. More »

Prepare for $40 oil by year-end, ex-OPEC research head says

Brent crude will be lower by the end of the year as production is set to increase from Iraq and Iran, shale oil output stabilizes while demand slows, according to OPEC’s former head of research. More »

U.S. oil exports add to global glut as OPEC resists cuts

For a nation that bans most oil exports, the U.S. still finds a way to ship more abroad than at least two OPEC members. More »

Magnitude releases two new IntelliFrac microseismic services

Magnitude, a Baker Hughes company, has announced the commercial release of two new offerings, the IntelliFrac VSP-Enhanced monitoring service and the IntelliFrac Recomplete service, as part of the company’s line of IntelliFrac advanced microseismic services. More »

CGG GeoSoftware launches new Insight Earth 3.0

CGG GeoSoftware has launched version 3.0 of Insight Earth, its advanced 3D visualization and interpretation software, offering a fresh approach to extracting geological knowledge from seismic data. More »

Steady but slowing demand in 2014: Oil and Gas UK Well Services Contractors Report

Demand for the expertise of well services contractors operating in UK waters remained steady according to figures in the 2015 Oil and Gas UK Well Services Contractors Report published on Jun. 3, which looks back at how the sector fared in 2014. More »

Xodus Subsea strengthens management team in the Americas

Xodus Subsea has appointed a General Manager and Business Development Manager to drive activity in the Americas, as the company aims to challenge the largest tier one subsea engineering companies for a share of the market in the region. More »

CRU opens third frac sand transloading facility in South Texas

CRU Logistics has opened its third frac sand transloading facility in South Texas. The terminal, known as its 'light model' is located at the Alamo Junction Rail Park (a dual-served industrial park) in Elmendorf; placing it within 50 miles of the Eagle Ford's core counties. More »

OPEC braces for more oil as Iran, Iraq declare plans to expand

Never mind cutting output to staunch a global glut, the talk so far at this week’s OPEC summit is mostly about pumping more oil. More »

Alberta wildfire 3 days from containment as crude output rises

An Alberta wildfire that shut 10% of Canada’s oil sands production won’t be contained for three days as Canadian Natural Resources Ltd. ramped up production at its Kirby South site. More »

IPAA: Lifting the restrictions on U.S. crude exports a top priority

IPAA President Barry Russell has sent a letter to House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) in support of his recent comments on U.S. crude oil exports at Tuesday’s Subcommittee hearing. More »

Economists call for end to U.S. oil export ban

The economic case for allowing U.S. crude oil exports has been laid bare by a new paper released Wednesday. More »

Eni, Shell and BP seek Iran access after end of sanctions

European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program. More »

BG Group completes sale of QCLNG pipeline

BG Group has completed the sale of its wholly owned, 543-km pipeline network linking natural gas fields and the Queensland Curtis liquefied natural gas (QCLNG) export facility to APA Group. More »

Oil price plunge forces soul-searching on Alaska's state budget

Oil has been Alaska’s lifeline. The collapse of crude prices could change everything. Lawmakers are embroiled in a stalemate over how to fill a $3.5 billion deficit after oil’s plunge sapped two-thirds of the state’s revenue. More »

Methane emissions threaten to undermine natural-gas offensive

Discussion of methane leakage at the World Gas Conference in Paris came in the midst of an industry offensive by the biggest oil companies to promote natural gas as the cleanest fossil fuel. More »

EandY: U.S. oil and gas capex, revenues and reserves continued to soar in 2014

Low oil prices in December had little impact on 2014 reporting of US oil and gas industry spending, reserves and revenues, according to EY’s eighth annual U.S. oil and gas reserves study. More »

CGG launches lowest-noise FALCON Plus airborne gravity gradiometry technology

CGG announced the launch of FALCON Plus, the newest release in the highly successful suite of FALCON airborne gravity gradiometer (AGG) systems, halving the survey data noise of the world’s best AGG and providing more effective exploration capabilities. More »

Rosneft hires Gazprom’s Baranov to head investor relations

OAO Rosneft hired Andrey Baranov from OAO Gazprom to head investor relations as Russia’s largest oil producer seeks to add institutional shareholders. More »

Shell expects oil rebound as shale fails to fill supply gap

Royal Dutch Shell Plc sees oil prices rising because supply from shale drilling in the U.S. won’t be enough to satisfy growing global demand. More »

Shell, BP openly declare Iran interest on potential nuclear deal

European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program. More »

OPEC’s shale war leaves big oil companies as unexpected casualty

When OPEC started a price war last November, driving oil down to its current $65 bbl, U.S. shale drillers looked doomed. Six months later, it’s the world’s largest oil companies that are emerging as the unexpected casualties. More »

Oil retreats as Barclays sees possibility of OPEC quota increase

Oil declined amid speculation that the Organization of Petroleum Exporting Countries may increase its production quota when the group meets on Friday. More »

NOVATEK concludes long-term LNG contract with ENGIE

Novatek Gas and Power concluded a long-term contract with ENGIE (formerly GDF SUEZ) on the supply of LNG from the Yamal LNG project. More »

Petrobras discovers new oil accumulation at Poço Verde area, in Sergipe Basin

Petrobras informs that well 3-SES-189, located at BM-SEAL-4 concession, discovers new oil accumulation in Sergipe Basin´s ultra-deep waters. More »

Baker Hughes introduces integrated reservoir modeling software

Baker Hughes has announced commercial release of its next-generation JewelSuite™ 6 software, which helps operators improve data-driven decisions across all EandP domains with integrated applications for geological modeling and reservoir engineering, geomechanical modeling, and reservoir stimulation. More »

Exxon CEO says Europe should see climate benefits of shale gas

Exxon Mobil CEO Rex Tillerson said Europe should see the “tremendous environmental benefits” of producing natural gas from shale, pointing to the U.S. output boom as a model for cutting greenhouse-gas emissions. More »

Gazprom pursues production from Bazhenov shale amid U.S. sanctions

Gazprom Neft, the oil arm of Russia’s state-run gas exporter, said commercial production from its Bazhenov shale formations could start in three years amid U.S. sanctions limiting the transfer of fracing technology. More »

PGS and OMP enter sale and leaseback agreement of PGS Apollo

Petroleum Geo-Services ASA (PGS) has entered into a sale and leaseback agreement of PGS Apollo, the only non-Ramform designed 3D vessel in the PGS fleet, and the best suited vessel for such a transaction. More »

Harkand completes first campaign for BG in Caribbean

Global operator in the subsea inspection, repair and maintenance sector (IRM), Harkand, has successfully completed its first campaign in the Caribbean for BG Trinidad and Tobago. More »

Abu Dhabi missing 2017 target for oil-output capacity boost

Abu Dhabi will be at least a year late in boosting its crude-production capacity to a record 3.5 MMbpd, according to officials at the state-owned oil company. More »

Iran said to plan better terms to lure foreign oil groups back

Iran, seeking billions of dollars to revitalize its ailing oil industry, plans to offer significantly better commercial terms to companies prepared to invest than offered during the last market opening nearly two decades ago. More »

Chevron equipment loss in rough seas challenges growth plan

Chevron Corp. indefinitely delayed a $5.1-billion oil development in the U.S. Gulf of Mexico after an equipment failure, casting doubt on the company’s ability to meet its target of 20% output growth by the end of 2017. More »

Repsol tests two exploration wells on Alaska's North Slope

Repsol has completed testing in two wells during its winter exploration campaign in Alaska with better-than-expected yields of good quality crude which, added to the positive results from previous campaigns. More »

CGG completes fast-track depth imaging in record nine days

CGG has completed in record time the fast-track results for a 1,748-sq km BroadSeis 3D marine acquisition and depth imaging project. More »

BP and Dana Gas to conduct joint exploration offshore Egypt

Dana Gas has completed an agreement with BP, whereby BP will carry Dana Gas for the drilling of a first exploration well in the El Matariya onshore Concession Area, Nile Delta in Egypt. More »

Russia producing oil near record swells global glut before OPEC meeting

Russian oil output neared a record in May, damping speculation before OPEC meets this week that major producers may cooperate to curb a global supply glut. More »

Russia producing oil near record swells global glut before OPEC

Russian oil output neared a record in May, damping speculation before OPEC meets this week that major producers may cooperate to curb a global supply glut. More »

FMC Technologies, Technip complete Forsys Subsea JV

FMC Technologies, Inc. and Technip have announced that Forsys Subsea, a 50/50 JV, has received all regulatory approvals. The parties closed the transaction making Forsys Subsea operational on Jun. 1. More »

Sercel launches new super-heavy broadband vibrator, Nomad 90 Neo

Sercel has launched the Nomad 90 Neo, its new super-heavy broadband vibrator. The Nomad 90 Neo benefits from major improvements in vibrator mechanical design as well as new functionalities to offer improved productivity and reliability. More »

Emerson acquires Energy Solutions International

Emerson has acquired Energy Solutions International Holdings, Inc., a global supplier of decision support software and services that enhance operational efficiency, commercial profitability and safety across the oil and gas pipeline, storage, marketing and distribution functions. More »

CGG GeoSoftware releases new Hampson-Russell software suite

CGG GeoSoftware has released HRS 10.0, a major release of its industry-leading Hampson-Russell seismic interpretation and reservoir characterization software suite. More »

Sercel GeoWave II tool breaks downhole temperature records

NANTES, France -- Sercel has announced that, on Monday, its recently launched downhole seismic array tool, GeoWave II, broke temperature records during field trials. More »

Keppel to deliver another three jackup rigs to Mexico's Grupo R

Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine Ltd. (Keppel OandM), is on track to deliver three KFELS B Class jackup rigs to Mexican company, Grupo R, safely, on time and on budget. More »

Noble Energy to donate $100,000 for flood relief and recovery in Texas

Noble energy has announced that the company will donate $100,000 to the American Red Cross Greater Houston Area Chapter in support of disaster-relief and recovery efforts for the communities affected by floods. More »

Statoil bags four licenses offshore Nicaragua

Statoil has been awarded four licenses offshore the Nicaraguan Pacific. More »

TGS extends LOA for 3D surveys in Northwest Europe

TGS has elected to extend the Letter of Award (LOA) signed with Polarcus DMCC to acquire a further 3,000 sq km of multi-client 3D seismic in the Norwegian Barents Sea. More »

Alberta oil sands companies prepare to return as fire eases

Companies in Alberta prepared to return to work as rain eased a wildfire that prompted the shutdown of 10% of Canada’s oil sands production. More »

LLOG hits oil at Crown and Anchor prospect in Gulf of Mexico

LLOG Exploration and its partners Ridgewood Energy and Stone Energy Corp. have drilled a successful exploration test at the Viosca Knoll 959 “Crown and Anchor” prospect. More »

LLOG hits oil at Crown and Anchor prospect

LLOG Exploration and its partners Ridgewood Energy and Stone Energy Corp. have drilled a successful exploration test at the Viosca Knoll 959 “Crown and Anchor” prospect. More »

Saudi oil market share strategy is working, Al-Naimi says

Saudi Arabia’s oil minister said the kingdom’s efforts to focus on market share are working just days before OPEC meets to discuss production. More »