MOL Group makes 11th hydrocarbon discovery in Pakistan

MOL Group has announced a new hydrocarbon discovery in the Karak block in Pakistan. More »

India open to U.S. imports in effort to diversify sources

India is open to buying crude from the world’s newest exporters, including the U.S., as it attempts to diversify its supply sources. More »

Sinopec to double natural gas output by 2020

China Petroleum and Chemical Corp., one of the country’s state-run energy giants, plans to ride a wave of new gas discoveries to double annual output to 40 Bcm by 2020, as the country pushes to replace coal with the cleaner fuel. More »

KCA Deutag retains North Sea drilling contracts for seven Statoil platforms

International drilling and engineering contractor KCA Deutag announced that it has retained the drilling contract for seven of Statoil’s platforms on the Norwegian Continental Shelf. More »

Statoil awards Archer two-year contract extension

Archer Limited announced a two-year extension of its contract for platform drilling services, as Statoil exercises the first option following the original four-year contract, with two additional two-year extension options remaining. More »

Chariot completes 3D seismic acquisition survey offshore Brazil

Chariot Oil and Gas Limited, the Atlantic margins-focused oil and gas exploration company, announced that it has completed the 3D seismic acquisition survey covering its 100% operated BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 licences in the Barreirinhas basin, offshore Brazil. More »

Subsea Center to deliver enhanced diver training courses

Subsea training facility, The Underwater Center, is helping to increase its students’ employability in the downturn by adding new modules to its commercial air diving courses, offering an enhanced. More »

BP and CNPC sign BP's first shale gas production sharing contract in China

BP and China National Petroleum Corporation (CNPC) today signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan basin, China. More »

Taqa cuts capital expenditure as oil-drop curbs revenue

Abu Dhabi National Energy Co., the government-controlled utility pumping crude and natural gas from Canada to the UK, said it’s cutting capital expenditure and planning to sell assets after low prices slashed oil and gas revenue by almost half. More »

RDT successfully transfers drill pipe manufacturing technology

RDT has successfully transferred drill pipe manufacturing technology in producing a new OCTG product line. More »

Saudi Aramco expanding oil and gas projects despite price rout

Saudi Arabian Oil Co. is pressing ahead with an expansion of the Khurais oil field despite lower crude prices and plans to double its production of natural gas over the next 10 years, the company’s CEO said. More »

$40 crude not the only problem facing Norway's oil industry

The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade. More »

McClendon’s former partner Tom Ward still regrets leaving Chesapeake

A decade since his departure from Chesapeake Energy Corp., Tom L. Ward said he still regrets breaking away from the company he founded with his friend Aubrey McClendon. More »

Conductor Installation Services names new managing director

Conductor Installation Services (CIS), an Acteon company that provides hammer services to install conductors and drive piles, announced that James Chadd has been appointed managing director. More »

Vallourec, ADNOC sign major OCTG supply contract

Vallourec has signed a contract with ADNOC to supply OCTG during the 2016-2018 period to its three operating companies (ADMA-OPCO, ADCO, ZADCO). More »

BP, Kuwait Petroleum sign cooperation agreement

BP and Kuwait Petroleum Corporation (KPC) have signed a framework agreement to explore possible joint opportunities for investment and cooperation in future oil, gas, trading and petrochemicals ventures. More »

Range Resources sells non-operated Marcellus assets in Bradford County, Pa.

Range Resources has completed the sale of its non-operated assets in Bradford County, Pennsylvania. More »

Oil trader who predicted slump sees bull run starting

Pierre Andurand, a hedge fund manager who predicted the oil collapse, said crude is starting a “multi-year bull run” because low prices have curbed supply. More »

Xodus Group delivers intelligent monitoring to Woodside

Xodus Group’s Intelligent Monitoring service is being used by Australian oil and gas company Woodside to create surveillance tools for its North West Shelf assets. More »

Chariot strikes Morocco farm out deal with Eni

Chariot Oil and Gas Limited has signed a farm-out agreement with a subsidiary of Eni, which will acquire operatorship and a 40% equity interest in return for a capped carry on drilling the JP-1 prospect, offshore Morocco. More »

Exxon climate science probe expands as New York gains allies

Massachusetts became the latest state investigating whether Exxon Mobil Corp. misled investors and the public about how climate change may affect its business. More »

Seadrill said to line up Houlihan, Morgan Stanley for debt talks

Seadrill Ltd., the offshore driller with the biggest debtload, hired Houlihan Lokey Inc. and Morgan Stanley to advise it in negotiations on restructuring $11 billion of loans and bonds, two people familiar with the matter said. More »

ABB to provide equipment and services for world's largest FLNG facility

ABB has won a five-year contract to deliver equipment and services for Shell’s Prelude FLNG, the world’s first floating liquefied natural gas (FLNG) facility, the largest floating facility ever built. More »

Delmar's DQR successfully installed on semisubmersible in GOM

The proprietary Delmar Quick Release (DQR) was successfully installed and activated on a traditionally moored semisubmersible MODU in the U.S. Gulf of Mexico. More »

WJM secures first contract for development of new support vessel

William Jacob Management Inc. (WJM) has secured its initial contract to complete the detailed engineering and design of its first mobile offshore support services vessel, the MOSS V. Northport Marine LLC will be the first client to receive delivery of the new concept vessel, scheduled for completion in Q1 2018. More »

Oil and Gas UK updates well integrity guidance

In line with its commitment to continually reviewing and improving the safety and performance of all aspects of well practices, Oil and Gas UK has published an update of its Well Life Cycle Integrity Guidelines. More »

Iran said to attend Doha talks without joining oil freeze

Iran will attend talks with fellow OPEC members and Russia in Qatar next month without joining their proposal to freeze crude oil production, according to a person familiar with the nation’s policy. More »

Adnoc open to additional onshore partners

Abu Dhabi National Oil Co. (Adnoc) is willing to accept additional partners at its main onshore fields, a senior company official said, almost a year after awarding less than half the production rights it offered for the deposits in a bidding round. More »

India's flagship oil explorer doubles down against low prices

India’s state-owned oil explorer won’t let low crude prices clip its wings. More »

SageRider West acquires Technical Wireline Services

SageRider West LLC (SRW), an oil and gas service company that focuses on reservoir monitoring solutions and fiber optic technologies, announces the acquisition of Technical Wireline Services (TWS). More »

Qatar Petroleum delivers 500th LNG cargo to the UK’s South Hook Terminal

Qatar Petroleum has announced the delivery of the 500th LNG cargo from QP affiliate Qatar Liquefied Gas Company to the South Hook LNG Terminal at Milford Haven, UK. More »

Bear Head LNG buys additional land as it expands proposed facility

Liquefied Natural Gas Limited’s wholly owned subsidiary, Bear Head LNG Corporation, Inc. has reached an agreement to purchase additional land from Nova Scotia Business Inc. (NSBI) to support expansion of its proposed LNG facility on the Strait of Canso in Richmond County, Nova Scotia. More »

Emerson launches latest version of its integrated reservoir engineering software suite

Emerson Process Management has launched Roxar Tempest 7.2, the latest version of its integrated reservoir engineering software suite that can be applied in a wide variety of scenarios, such as field appraisal, field optimization and brownfield development. More »

Emerson launches reservoir engineering software enhancements for improved field development decision-making

Emerson Process Management has launched Roxar Tempest 7.2, the latest version of its integrated reservoir engineering software suite that can be applied in a wide variety of scenarios, such as field appraisal, field optimization and brownfield development. More »

Oil at $45-$50 is a fair price for world's 4th-biggest buyer

Crude at $45 to $50 is enough to encourage India’s own exploration without squeezing fuel consumers, according to the oil minister of the world’s fourth-largest user. More »

AGR to provide consultancy manpower to Lundin Norway

AGR has been awarded a Frame Agreement with Lundin Norway for delivering consultancy services on- and offshore Norway. More »

Aker Solutions to provide global subsea engineering services to BP

Aker Solutions secured a global framework agreement to deliver engineering and project management services at BP-operated subsea oil and gas fields. More »

Oil drops a fourth day as U.S. stockpiles seen expanding glut

Oil declined for a fourth day before weekly U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades. More »

Harkand awarded TAQA inspection campaign in UKCS

Inspection, repair, maintenance (IRM) and light construction company Harkand has secured a scope of work with TAQA in the North Sea. More »

Total's supercomputer now the industry’s most powerful

Total's supercomputer Pangea recently boosted its computing power from 2.3 to 6.7 petaflops, the equivalent of more than 80,000 laptops combined. Its storage capacity has also been increased, to 26 petabytes—the equivalent of 6 million DVDs. More »

Oil trades near $39 amid doubts producer talks will curb glut

Oil traded near $39/bbl in New York amid speculation that a meeting of crude-producing countries next month won’t ease a global supply glut. More »

The death of oil demand has been greatly exaggerated: Credit Suisse

Even as U.S. oil production started to slide in the second half of 2015, the downside risks to oil prices continued to dominate. More »

China's fourth-largest oil producer said to cut pay, investment

Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries because of the oil price crash, according to people with knowledge of the matter. More »

Subsea Innovation delivers 16-in. pipeline connectors to RasGas

Subsea Innovation has completed the design and manufacture of two 16-in. mechanical pipeline connectors for use by RasGas. More »

Keppel FELS delivers another two rigs to Mexico

Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine (Keppel OandM), has delivered two jackup rigs to Mexican company, Grupo R. More »

Leviathan gas partners say High Court ruling won't derail plans

Partners in Israel’s largest offshore gas field say a court ruling that blocked the government’s proposal to regulate the natural gas industry won’t derail their development plans. The nation’s oil and gas stock index sank. More »

Schlumberger-Cameron merger cleared by Chinese authorities

Schlumberger and Cameron have jointly announced that the Chinese Ministry of Commerce (MOFCOM) has cleared their proposed merger without any conditions. More »

China seen sustaining strong crude imports

China’s crude imports will rise further from a record this year to feed its expanding refining sector and strategic reserves, according to Standard Chartered Bank. More »

Israel's High Court strikes down government natural gas plan

Israel’s High Court struck down the government’s controversial proposal to regulate the natural gas industry, in a dramatic ruling that blocked plans to develop the country’s largest field and conclude export deals. More »

Schlumberger acquires UK-based Meta Downhole Limited

Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole, metal-to-metal isolation solutions in well integrity applications. More »

U.S. drillers return to parking oil rigs as supplies build

Explorers once again idled drilling rigs in U.S. oil fields as crude inventories continue climbing, boosted by a surge in imports. More »

Schlumberger acquires Meta Downhole Limited

Schlumberger today announced the acquisition of Meta Downhole Limited, a UK-based engineering and service company that offers technology and expertise to provide downhole, metal-to-metal isolation solutions in well integrity applications. More »

U.S. oil explorers park more rigs as inventories build

Explorers once again idled drilling rigs in U.S. oilfields as crude inventories continue climbing, boosted by a surge in imports. More »

Covey Park buys Haynesville, Bossier shale assets in $420-million deal

Covey Park Gas LLC, a subsidiary of Dallas, Texas-based independent oil and gas company Covey Park Energy LLC, has entered into a Purchase and Sale Agreement with subsidiaries of EP Energy Corporation to purchase all of EP Energy’s assets in the Haynesville and Bossier shales. More »

Oil extends declines as rising U.S. stockpiles expand glut

Oil extended its decline after the biggest loss in six weeks, as rising U.S. crude stockpiles kept supplies at the highest level in more than eight decades. More »

New Mexico service company to pay $1.5 million in wages, damages

Nova Mud Inc., Nova Hardbanding LLC and Nova Sand LLC have paid $1.5 million—$750,000 in back wages and an additional, equal amount in liquidated damages—to 241 oil well service workers after an investigation by the U.S. Department of Labor’s Wage and Hour Division. More »

PetroChina cuts output for first time in 17 years

As oil’s collapse leaves some fields with no chance to turn a profit, China’s biggest producer is ready to cut its losses. More »

Covey Park acquires Haynesville, Bossier assets from EP Energy

Covey Park Gas LLC, a subsidiary of Dallas, Texas-based independent oil and gas company Covey Park Energy LLC, has entered into a Purchase and Sale Agreement with subsidiaries of EP Energy Corporation to purchase all of EP Energy’s assets in the Haynesville and Bossier shales. More »

OFSCap acquires The Oil and Gas Asset Clearinghouse

OFSCap, LLC, today announced that its affiliate, OFSCap Acquisition, LLC, has acquired The Oil and Gas Asset Clearinghouse from CenterGate Capital. More »

U.S. Labor Department updates rules on ‘respirable’ silica dust

The U.S. Department of Labor’s Occupational Safety and Health Administration today announced a final rule to improve protections for workers exposed to respirable silica dust. More »

Gulf of Mexico lease sale yields $156 million in high bids in Central Planning Area

This week's oil and gas lease sales in the Gulf of Mexico garnered $156 million in high bids for 128 tracts covering 693,962 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi and Alabama. More »

NCS Multistage reveals management changes

NCS Multistage has announced that Robert Nipper, CEO since the company's founding, has been named executive chairman of the board. More »

Death of LNG projects seen kindling market revival from rout

The demise of LNG projects such as Woodside Petroleum Ltd.’s planned $40-billion Browse facility due to a plunge in energy prices is probably what will lift the market out of its current rut. More »

Aquatic expands Americas presence with new appointments

Aquatic Engineering and Construction, an Acteon company, has expanded its team in Houston. More »

Rockefellers dump Exxon holdings that made family's fortune

Descendants of John D. Rockefeller sold their Exxon Mobil Corp. stock and plan to dump all other fossil-fuel investments in the latest move against the industry that made their fortune. More »

Cnooc beats estimates as spending cuts cushion crude crash

Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted annual profit that exceeded analyst estimates as cost cuts countered a decline in energy prices. More »

Schlumberger introduces real-time downhole flow measurement service

Schlumberger has introduced the ACTive Q CT real-time downhole flow measurement service, which delivers real-time injection diagnostics and treatment evaluation in just one run in a well. More »

Oil price declines as U.S. crude stockpile gain adds to glut

Oil maintained its decline after a U.S. government report showed rising crude stockpiles kept supplies at the highest level in more than eight decades. More »

Frames opens new office in Dubai

More »

Russia’s only producing oil field on Arctic shelf produces 10-millionth barrel

March saw the 10-millionth barrel of oil produced at Prirazlomnoye oil field—located on the Russian Arctic Shelf in the Pechora Sea and currently under development by Gazpromneft Shelf. More »

American Energy - Permian Basin, LLC changes name, transitions to stand-alone company

American Energy - Permian Basin, LLC and its parent, American Energy Permian Holdings, LLC, have announced the renaming of the companies to Permian Resources, LLC and Permian Resources Holdings, LLC, respectively, consistent with plans to transition to a stand-alone company, fully independent of the broader American Energy Partners, LP platform. More »

Seadrill extends drillship contract on lower day rate

Seadrill has been awarded an 18-month contract extension for the West Tellus drillship by Petrobras, commencing in April 2018 and securing work for the unit through the end of October 2019. More »

Marsol International secures two contracts in Oman

Marsol International, a United Arab Emirates-based marine solutions provider focused on the offshore oil terminal market and related infrastructure, has been awarded two contracts in Oman. More »

Oil security seen at risk by IEA on ‘historic’ spending cuts

An oil shock may be lurking around the corner as the price bust has hammered investment in future supply, according to the International Energy Agency. More »

Total opposed to Halliburton-Baker Hughes deal

Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was opposed by the world’s fifth-largest producer Tuesday, a day after being stalled by European regulators. More »

Woodside halts Browse LNG project on price plunge

The participants in the Browse LNG project will not proceed with the development at this time given the current economic and market environment, operator Woodside said Wednesday. More »

READ launches new logging technology

Investors of Aberdeen-based well intervention specialist READ Cased Hole welcome continued growth of their portfolio company as it takes its latest logging technology, ZeroTime to launch at the SPE ICoTA Coiled Tubing and Well Intervention Conference and Exhibition in Houston. More »

Liebherr to deliver crane for Lukoil's Caspian Sea operations

Liebherr-Russland and Lukoil-Nizhnevolzhskneft have signed a new contract for the delivery of a Liebherr RL 1500-30 EX Litronic offshore crane, which is to start operation on a satellite platform at Ju. Korchagin oil and gas-condensate field in the Russian part of the Caspian Sea by the end of 2016. More »

Petrobras record loss shocks analysts as oil rout bites

Petroleo Brasileiro SA, the oil producer at the center of Brazil’s largest corruption scandal, reported a record loss that surprised analysts and sent shares lower. More »

NOV considering billion-dollar MandA amid oil slump

After slowing down its MandA machine considerably over the past two years, National Oilwell Varco Inc. (NOV) is looking at acquisitions in the billion-dollar range. More »

Halliburton introduces Spectrum Real-Time Coiled Tubing Services

Halliburton’s Production Solutions business line has introduced Spectrum Real-Time Coiled Tubing Services. This suite of services is designed to deliver more accurate, more complete downhole measurements and exceptional reliability. More »

Wood Group Intetech grows Malaysia team

Wood Group Intetech (WGI), an asset integrity specialist, is growing in Malaysia in response to heightened demand for its services. More »

Sparrows Group wins Statoil Mariner contract

Sparrows Group has secured an initial five-year contract to deliver cranes and maintenance services at one of the North Sea’s largest new developments in over a decade. More »

OPEC sees moderate oil bounce even if Iran won't join freeze

OPEC expects oil prices to rebound to a “moderate” level even if Iran doesn’t join other producers in an agreement to freeze production. More »

Transocean, Schlumberger see oil industry recovery delayed

Leaders of the world’s largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year. More »

Suncor completes Canadian Oil Sands acquisition

Suncor's acquisition of Canadian Oil Sands (COS) has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders. More »

Oceaneering names Boyle as senior V.P. of asset integrity

Oceaneering International has announced the appointment of William (Bill) J. Boyle as senior V.P. of asset integrity. More »

Unimin Energy Solutions launches UNIFRAC DUSTSHIELD

Unimin Energy Solutions has announced the launch of UNIFRAC DUSTSHIELD hydraulic fracturing sands—a new coated sand product utilizing dust suppression technology developed to reduce job/well-site exposure to respirable crystalline silica. More »

Eni CEO sees ‘some recovery’ in oil market as supply shrinks

Eni SpA, Italy’s largest energy producer, sees “some recovery” in the global oil market as demand increases and supply declines, according to CEO Claudio Descalzi. More »

Drillers can't replace lost output as $100 oil inheritance spent

For oil companies, the legacy of $100 crude is starting to run dry. More »

BSEE assists in opening oil spill response test burn tank

The Bureau of Safety and Environmental Enforcement (BSEE) helped oversee and execute a series of test in situ burns​​ in the newly opened burn tank at the Joint Maritime Test Detachment in Mobile, Ala. More »

Saudi Aramco sees oil rising as demand catches up with supply

Oil prices will increase by the end of this year but won’t rebound to levels reached in 2013 and 2014, according to Amin H. Nasser, president and CEO of Saudi Arabian Oil Co. More »

Trelleborg seawater intake hoses meet demands of FLNG applications

Trelleborg’s oil and marine hoses operation has launched a dedicated seawater intake hose engineered specifically to meet the unique requirements of FLNG extraction facilities. More »

First Chevron Gorgon LNG cargo sets sail for Japan

Chevron Corporation’s first shipment of LNG from the Gorgon project has departed Barrow Island off the northwest coast of Western Australia. More »

‘Missing barrels’ don't explain oil rally, says Morgan Stanley

The 800,000 bpd of crude production unaccounted for in the International Energy Agency’s estimates of oil supply and demand for last year are a “poor explanation” for the recent rally in prices, according to Morgan Stanley. More »

Total, CNPC sign strategic cooperation agreement in Beijing

Patrick Pouyanné, chairman and CEO of Total, and Wang Yilin, chairman of China National Petroleum Company (CNPC), have signed a strategic cooperation agreement to extend existing collaboration between their respective companies. More »

Penn West to sell Slave Point acreage in Alberta for $148 million

Penn West Petroleum has entered into a definitive agreement for the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of $148 million. More »

North Sea efficiency drive sees online trading platform kick off

The Efficiency Task Force (ETF)—a group set up to drive a pan-industry improvement in efficiency—has started a trial which will see five operators share 200,000 inventory items on an online trading platform. More »

OMV, Oxy sign technical evaluation agreement with ADNOC

The Abu Dhabi National Oil Company (ADNOC), OMV, and Occidental Petroleum have signed a contract covering several undeveloped oil and gas fields offshore Abu Dhabi, including the Ghasha and Hail areas. More »

Nexen gains accreditation for best practice competency system

One of the UK’s largest oil producer’s employee development and competency system has been recognized as amongst the best in the world after it secured approval from industry skills organization OPITO. More »

Weatherford adds Dr. Mario Ruscev to senior management group

Dr. Mario Ruscev is joining Weatherford International as a senior operating executive reporting directly to the CEO, the company said Monday. More »

Halliburton-Baker Hughes faces third EU delay over missing info

BRUSSELS -- Halliburton Co.’s bid to buy oil-services rival Baker Hughes Inc. was stalled for a third time by European Union regulators who said the companies have once again failed to supply key information about their proposed deal. More »

Oil drops a second day as U.S. rig-count decline halts amid glut

Oil fell for a second day in New York, extending declines from a three-month high, as the number of drilling rigs active in the U.S. rose for the first time in three months amid a global glut. More »

Why the global oil glut might not fill swimming pools after all

One of the warning lights that there’s too much oil around is no longer flashing, adding to signs that global crude markets are finally on the mend. More »

U.S. Steel to idle two plants, cut up to 770 jobs amid oil price rout

U.S. Steel Corp., the country’s second-biggest producer of the metal, said it will dismiss as many as 770 workers and idle two plants that make products used in oil drilling as energy companies cut production. More »

BSEE, NASA announce agreement to examine risk offshore

The Bureau of Safety and Environmental Enforcement (BSEE) and The National Aeronautics and Space Administration (NASA) have announced a five-year agreement, allowing BSEE to capitalize on the best risk management approaches from the aeronautics industry to inform stakeholders and further strengthen worker and environmental safety protections on the Outer Continental Shelf. More »

TransCanada expands business in U.S. with $10.2-billion acquisition

TransCanada Corp. is undertaking its biggest-ever deal with the purchase of Columbia Pipeline Group Inc. for $10.2 billion, expanding its reach in the U.S. natural gas market. More »

Venoco files bankruptcy after California coast spill

Oil driller Venoco Inc. filed for bankruptcy protection Friday, citing the persistent slump in crude markets and a spill that hampered some of its production along the California coast near Santa Barbara. More »

Eni plans deeper cost cuts, asset sales to weather oil plunge

Eni SpA, Italy’s largest oil producer, plans additional asset sales valued at $7.9 billion by 2019 and deeper cost cuts, as it seeks to offset the impact of the plunge in oil prices. More »

Oil extends gain from three-month high on falling U.S. output

Crude extended gains from a three-month high as U.S. oil production dropped, while central-bank policies put pressure on the dollar and improved the outlook for demand growth. More »

Maersk Drilling CEO ready to buy used rigs in pricing rejig

Maersk Drilling is looking into buying used oil rigs to take advantage of low prices and the financial clout of its parent, A.P. Moeller-Maersk A/S. More »

UK tax cuts may be little help to industry while prices stay low: Rystad

Amid prevailing low oil prices, the UK government announced tax cuts for energy companies, in order to support the oil and gas industry in a difficult macro environment. More »

Australia’s AWE names new CEO

AWE Limited has named David Biggs as its new CEO and managing director, the Sydney-based company said Friday. Biggs, who will assume his new role in May, succeeds current CEO Bruce Clement. More »

BOEM moves to update offshore air quality regulations

Janice Schneider, assistant secretary, Land and Minerals Management and Abigail Ross Hopper, director of the Bureau of Ocean Energy Management (BOEM), have announced proposed updated air quality regulations that will more accurately account for emissions from offshore oil and gas activity, effectively ensuring that those activities do not significantly harm the air quality of any state. More »

Aubrey McClendon left biggest backer with billions to lose

The late Aubrey McClendon thrived on risk. John Raymond, his biggest backer, not quite as much. But with McClendon gone, the price of oil so low and debts piling up, Raymond could be in a tight spot. More »

Statoil, BP gas facility in Algeria hit by rocket attack

Statoil ASA and BP Plc said there is no information to suggest anyone was injured after a gas facility they run in Krechba, Algeria, was hit by a rocket attack from outside the site’s perimeter. More »

WTI closes above $40 for first time since December

Oil surged above $40/bbl in New York for the first time since December as central banks from the U.S. to Norway signaled they will continue to provide economic stimulus to support demand. More »

Mexico to proceed with auction round for shale fields

Mexico will hold a private bidding round for the nation’s shale oil fields this year in part to cater to continued interest from U.S. drillers eyeing expansion south of the border, according to Deputy Energy Minister Lourdes Melgar. More »

Scientists blame rising methane levels on agriculture, not fossil fuels

AUCKLAND, New Zealand -- A breakthrough in understanding about the causes of climate change has been published online in the prestigious international journal Science. More »

WTI rises above $40 for first time in three months

Oil surged above $40/bbl in New York for the first time since December as central banks from the U.S. to Norway signaled they will continue to provide economic stimulus to support demand. More »

Scientists attribute rising methane levels to agriculture, not fossil fuels

AUCKLAND, New Zealand -- A breakthrough in understanding about the causes of climate change has been published online in the prestigious international journal Science. More »

Veolia to provide water treatment services for Petrofac's Rabab Harweel project in Oman

Veolia, through its subsidiary Veolia Water Technologies Gulf, has been awarded a contract by Petrofac to provide process water treatment solutions on petroleum development Oman’s Rabab Harweel Integrated Project. More »

DNV GL reports moderate investment in big data, despite its potential for efficiency gains

HØVIK, Norway -- Only one in five oil and gas companies see themselves as highly digitized today. More »

Oil production from Russian Arctic field set for significant rise, Gazprom Neft says

A revised production schedule for Gazprom Neft’s Prirazlomnoye field has seen the field’s peak production period increased from three years to five. More »

Oil production from Russian Arctic field set to nearly double, Gazprom Neft says

A revised production schedule for Gazprom Neft’s Prirazlomnoye field has seen the field’s peak production period increased from three years to five. More »

Oil investers see $7.4 billion vanish as dividends are targeted

The check is not in the mail. Bludgeoned by falling energy prices, at least a dozen oil and natural gas companies have opted to cut dividends this year to preserve cash, cannibalizing payouts considered sacrosanct by many investors. More »

EnQuest gains after cost cuts, boost in North Sea output

EnQuest Plc, an oil producer focused on the North Sea, gained the most in more than a year in London trading after boosting output and cutting costs. More »

Liard basin among largest shale gas resources in world, assessment shows

The first detailed study estimating the marketable unconventional natural gas resources in the Liard basin has been released by Canada's National Energy Board (NEB), the British Columbia Oil and Gas Commission, the Yukon Geological Survey, the Northwest Territories Geological Survey and the British Columbia Ministry of Natural Gas Development. More »

Shell recognizes PDO, GlassPoint for heavy oil recovery solar project

The Miraah solar project underway in southern Oman earned Petroleum Development Oman (PDO) and GlassPoint Solar a prestigious Shell Upstream International (UI) Impact Award. More »

Saudis said to join April’s oil freeze meeting in Doha

Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to the campaign by financially stricken crude exporters to freeze output and overcome the glut that’s weighing on the market. More »

Saudi Arabia said to join April’s oil freeze meeting in Doha

Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to the campaign by financially stricken crude exporters to freeze output and overcome the glut that’s weighing on the market. More »

Gulf Keystone falls to seven-year low as future in doubt

Gulf Keystone Petroleum Ltd. fell to a seven-year low in London trading after saying its future depends on obtaining new funds and restructuring the balance sheet as bond repayments loom. More »

Norway launches APA 2016, adds new blocks

The Norwegian Ministry of Petroleum and Energy launched the APA 2016 licensing round on Thursday. More »

Boom times for Oklahoma’s wastewater come to a shaky end

In 2010, as fracing was taking off in Oklahoma, Jeff Andrews, a former oil rig manager and drilling consultant, had an idea for how to cash in on the boom. More »

PGS celebrates launch of new Ramform Titan-class vessel

The third of four Ramform Titan-class vessels, the Ramform Tethys, was celebrated in a naming ceremony at the Mitsubishi Heavy Industries Shipbuilding Co. yard in Nagasaki, Japan, on Thursday. More »

PSAC requests federal assistance for Alberta’s oil and gas service sector

The Petroleum Services Association of Canada (PSAC) recently presented a proposal to the federal government that will put oil and gas services companies back to work while benefitting the environment. More »

Oil holds gains on less-than-projected U.S. inventory rise

Oil maintained gains after a government report showed a smaller-than-anticipated U.S. crude inventory increase. More »

Gazprom Neft appointed operator of Kurdistan’s Garmian block

Gazprom Neft Middle East, a subsidiary of Gazprom Neft, has assumed the operatorship of Sarqala field, Garmian block, in the Kurdistan Region of Iraq. More »

Assessment shows Liard basin among largest shale gas resources in the world

The National Energy Board (NEB), the British Columbia Oil and Gas Commission, the Yukon Geological Survey, the Northwest Territories Geological Survey and the British Columbia Ministry of Natural Gas Development today released the first detailed study estimating the marketable unconventional natural gas resources in the Liard basin. More »

UK cuts tax on North Sea drillers to ease strain of slump

The UK cut taxes on the North Sea oil and gas industry as Chancellor of the Exchequer George Osborne seeks to ease the strain on producers squeezed by plunging oil prices. More »

OneSubsea signs frame agreement with BP

OneSubsea, a Cameron and Schlumberger company, has signed two, 5-year global frame agreements (GFA) with BP to provide engineering, procurement and construction (EPC) of Subsea Production Systems (SPS) and Subsea Aftermarket Services. More »

Ashtead Technology calibration lab accredited by UKAS

Ashtead Technology has become the first subsea services company to be accredited by the United Kingdom Accreditation Service (UKAS) for its state-of-the-art calibration laboratory. More »

Rosneft signs pact with Indian companies to sell stake in fields

Russia’s Rosneft OJSC signed agreements with Indian state-run energy companies to sell stakes in its oil assets in Siberia, as the two countries seek to deepen energy cooperation. More »

Kosmos to pursue LNG project as it ups resource estimate offshore Mauritania

Kosmos Energy’s Ahmeyim-2 appraisal well has successfully delineated the Ahmeyim and Guembeul gas discoveries offshore Mauritania and Senegal. More »

Chevron names Nelson V.P. of Strategic Planning

Chevron has named Mark A. Nelson as corporate V.P. of Strategic Planning, effective April 1. More »

Sterling Energy withdraws from Block C-3, offshore Mauritania

Sterling Energy’s wholly owned subsidiary, Sterling Energy Mauritania Limited (SEML), has submitted a notice of withdrawal to its joint venture partners in relation to Block C-3, offshore Mauritania. More »

Producers plan oil freeze meeting in Qatar in mid-April

Oil producers from OPEC and beyond are finalizing a plan to discuss freezing output at a meeting in Qatar in mid-April, the latest move in a campaign by financially-stricken countries to shift the dynamics of an over-supplied crude market. More »

Tullow wildcat strikes oil in Northern Kenya

Tullow Oil’s Cheptuket-1 well in Block 12A, Northern Kenya, has encountered good oil shows, seen in cuttings and rotary sidewall cores, across an interval of over 700 m, the London-based explorer said Wednesday. More »

Interior rules out Atlantic exploration in 2017-2022 leasing program

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper today announced the proposal for the nation's Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. More »

Interior Department announces next step in 2017-2022 offshore leasing program

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper today announced the proposal for the nation's Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. More »

Borets successfully completes U.S. applications of WR2 system

Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has successfully completed eight North American applications of its Wide Range Wear Resistant (WR2) pump system. More »

Latest offshore plan closes the door to new American energy opportunities: IPAA

Independent Petroleum Association of America (IPAA) President Barry Russell released the following statement on the next stage of the Obama Administration’s proposed five-year offshore oil and gas leasing program. More »

Rosneft commences exploratory drilling offshore Vietnam

Rosneft Vietnam B.V., a company of Rosneft Group, has started drilling exploration well PLDD-1X at Block 06.1 located offshore Vietnam. More »

Blackhawk launches new operations facility in Mexico

Blackhawk Specialty Tools LLC has expanded its international operations in Mexico with the opening of a new subsidiary and operating facility in Villahermosa, Mexico, in the heart of the expanding Mexican oil and gas market. More »

Sakhalin Energy appoints BMT ARGOSS for weather forecasting in Russia

BMT ARGOSS (BMT), a subsidiary of BMT Group, the leading international maritime design, engineering and risk management consultancy, has been appointed by Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) to deliver weather forecasting services to support their onshore and offshore operations in the Sakhalin region, off the east coast of Russia. More »

XACT Gulf of Mexico project delivers industry first

XACT Downhole Telemetry Inc., with offices in Houston and Calgary, ended a landmark year that included six deepwater Gulf of Mexico deployments, delivering an industry first, by providing real-time downhole data during a deepwater completion installation with BP. More »

Thermal EOR to transform North American oil sands extraction

The heavy oil production in California and fresh exploration frontiers like the oil sands in Canada have created a vast market for thermal enhanced oil recovery (EOR) in North America. More »

Oil output deal ‘brilliant communications strategy,’ JBC says

Saudi Arabia’s agreement with Russia to cap oil production was a “brilliant communications strategy” which has supported prices, but it will probably remain just that, according to consultant JBC Energy GmbH. More »

iSURVEY Group contract wins bolster North Sea presence

iSURVEY Group, a provider of survey and positioning services, has boosted its North Sea presence following a number of contract wins and the appointment of a new business development manager. More »

CGG GeoSoftware launches updated version of InsightEarth

CGG GeoSoftware has launched a new version of InsightEarth, its software suite which accelerates 3D visualization and interpretation. Improvements in structural and stratigraphic interpretation capabilities enable oil and gas company interpretation teams to deliver more accurate interpretations with fewer people in less time. More »

Atlas achieves first Helideck Certification Agency accredited course

Atlas Knowledge Group has achieved its first ever course accreditation from one of the helicopter industry’s leading authorities, which regulates the safe operation of helidecks and helicopter landing sites. More »

Harkand to support start-up work for Maersk Oil

Harkand has been awarded a contract with Maersk Oil North Sea UK Ltd to deliver subsea support services to the operator including a commissioning support campaign for the Flyndre development in the southeastern part of the Central Graben basin in the North Sea. More »

If oil prices have hit bottom, the top may not be too far away

The top of the oil market may be closer than you think. More »

Anadarko sells $3 billion in bonds after ratings cut to junk

THE WOODLANDS, Texas (Bloomberg) -- Anadarko Petroleum Corp. sold $3 billion of bonds, its largest offering in nearly a decade and the first since it was cut to junk in February by Moody’s Investors Service. More »

Aubrey McClendon hit wall at 78 miles per hour in fatal crash

Aubrey McClendon’s car was traveling 78 miles per hour when it crashed, killing him on March 2, the Oklahoma City police said Monday. The shale oil pioneer’s 2013 Chevy Tahoe hit a wall and burst into flames on a two-lane road near the city. More »

Iran may join oil freeze after boosting output, Russia says

Iran may join other oil suppliers in freezing production after restoring its own output to levels before sanctions were imposed, Russian Energy Minister Alexander Novak said after meeting with the Persian Gulf nation’s oil minister. More »

OneSubsea awarded contract for BP's West Nile Delta fields, offshore Egypt

OneSubsea, a Cameron and Schlumberger company, has been awarded a contract from BP Exploration (Delta) Ltd., and partner DEA (Deutsche Erdoel AG), to supply subsea production systems for West Nile Delta Giza/Fayoum and Raven fields, situated offshore Egypt. More »

Texas drilling permits and completions statistics released

The Railroad Commission of Texas (Commission) issued a total of 573 original drilling permits in February 2016, compared to 924 in February 2015. More »

Lloyd's Register launches new risk-based inspection service

Lloyd’s Register, a leading integrity, compliance and specialist risk consulting services group, has launched a new service for the energy industry. More »

Tekmar appoints new operations manager

Tekmar Energy Ltd, a leading supplier of subsea cable protection, has strengthened its senior management team with the appointment of Barry Cooper as operations manager. More »

Gazprom Neft opens newly refurbished Drilling Support Center

Following full refurbishment and re-equipment, the Gazprom Neft Drilling Support Center is now operational, with the facility’s official opening attended by Gazprom PJSC Chairman of the Management Committee Alexey Miller. More »

Williams Partners to provide gas gathering services for Shell’s deepwater Appomattox development

Williams Partners has reached an agreement with Shell Offshore Inc. and Nexen Petroleum Offshore U.S.A. Inc. to provide deepwater gas gathering services to the Appomattox development. More »

Anadarko cuts 1,000 jobs as it idles rigs, sells assets

Anadarko Petroleum Corp. is shrinking its workforce in the latest step to cope with a collapse in oil and gas prices, following plans to park rigs, slash dividends and sell assets. More »

Shale patch pain sees speculators boost bets on oil price rise

Hedge funds are the most bullish on oil in almost a year as the U.S. shale boom unravels and demand for gasoline strengthens. More »

Sparrows Group, INNOVO partner to offer cable and pipe lay industry first

Sparrows Group has partnered with INNOVO to provide the offshore industry with the first fully electric-drive flexible cable and pipe lay system for rental. The wider collaboration between the firms will see them deliver full back-deck equipment packages for sale and rental. More »

Shell starts production from Phase 3 of deepwater development offshore Brazil

Shell has announced the start of oil production from the third phase of the deepwater Parque das Conchas (BC-10) development in Brazil's Campos basin. More »

CandJ Energy Services names new CEO following founder’s death

More »

Shell starts oil production from Phase 3 of deepwater Brazil development

Shell has announced the start of oil production from the third phase of the deepwater Parque das Conchas (BC-10) development in Brazil's Campos basin. More »

Virginia, ground zero in drilling debate, to learn fate soon

From the shores of Savannah, Georgia, to the Beaufort, North Carolina beachfront, coastal communities in conservative southern states have locked arms in opposition to oil and gas drilling in the Atlantic waters lapping their shores. More »

Apache, Shell eye Egypt for unconventional gas in June

Apache Corp. and Royal Dutch Shell plan to start producing unconventional gas from their joint venture in Egypt’s Western Desert by the end of June even as Apache is cutting investment in the nation because of falling oil prices. More »

Eni starts production at Goliat field in Barents Sea

Eni has started production at Goliat field, 85 km northwest of Hammerfest, Norway. The field lies within Production License 229, in an ice-free area in the Barents Sea. More »

Iran on oil freeze: ‘Leave us alone' until output higher

Iran plans to boost crude output to 4 MMbpd before it will consider joining other suppliers in seeking ways to rebalance the global oil market. More »

In drive to deflate natural gas surplus, U.S. pounces on Canada

U.S. gas drillers battered by the lowest prices in 17 years have found another release valve for their output: Canada. More »

New tracer technology brings cost savings to unconventional well stimulation

Technology company Tracerco, part of the FTSE 100 Johnson Matthey Plc, has been helping customers to achieve savings of as much as 20% in reservoir stimulation costs through their smart tracer technology. More »

Russia seen exporting 180,000 bpd more oil in 2016

Russia will export about 180,000 bopd more in 2016 compared to last year, analysts said Friday. More »

BP avoids lawsuits over moratorium that followed Gulf spill

BP Plc won’t have to face lawsuits by energy and oilfield service companies over losses they blamed on the U.S. offshore drilling ban imposed after the 2010 Gulf of Mexico oil spill. More »

Shale wells are getting more profitable every year: Rystad

Rystad Energy’s latest analysis shows that wellhead break-even price has decreased considerably across all main shale plays in North America over the last three years. More »

Up to half of U.S. LNG at risk of shut-in over next five years: Wood Mac

Using its proprietary Global Gas Model, Wood Mackenzie has undertaken sensitivity analysis to determine the outlook for US LNG exports. More »

Petrofac evolves its ‘Duty Holder’ model in support of new North Sea investment

Petrofac has been appointed as Duty Holder to support Anasuria Operating Company Limited (AOC), a UK joint venture formed between Hibiscus Petroleum Berhad and Ping Petroleum Limited. More »

ION Geophysical acquires Ontario-based Global Dynamics Inc.

ION Geophysical has acquired Global Dynamics Incorporated (GDI), an Ontario-based company that designs and develops marine towing systems and equipment, including its proprietary SailWing technology. More »

INEOS Intrepid carries first U.S. shale gas to Europe

The INEOS Intrepid, the world’s largest LNG multi gas carrier, left the Marcus Hook terminal near Philadelphia on Wednesday. The vessel is bound for Rafnes in Norway and is carrying 27,500 m3 of U.S. shale gas ethane. More »

Goldman sees ‘green shoots’ in oil market as storage risks recede

The oil market may be starting to rebalance as U.S. production shows signs of declining and output in Nigeria and Kurdistan is disrupted, potentially shrinking the global oversupply, according to Goldman Sachs Group Inc. More »

Oil price may have bottomed as high-cost producers cut, says IEA

Oil prices may have passed their lowest point as shrinking supplies outside OPEC and disruptions inside the group erode the global surplus, the International Energy Agency said. More »

OPEC-Russia oil freeze coalition struggles with its very first step

A month after promising co-operation that would re-balance global oil markets, the producer coalition forged by Saudi Arabia and Russia is having difficulty taking its first step. More »

Eni successful in first production test of Zohr field

Eni successfully performed the production test of Zohr 2X, first appraisal well of Zohr discovery, in the Shorouk block, offshore Egypt. More »

Oil slips from 3-month high on doubts about production freeze meeting

Oil slipped from a three-month high amid uncertainty about when a meeting between Saudi Arabia, Russia and other producers to freeze output will occur as Iran seeks to rebuild its exports. More »

CGG releases latest version of HampsonRussell software suite

CGG GeoSoftware has announced the release of HRS 10.1. HampsonRussell software enables advanced geophysical interpretation and analysis for reducing the risks and costs associated with EandP. More »

Halliburton has until July to convince EU over Baker Hughes deal

Halliburton Co. faces a new July 11 deadline to convince European Union regulators to approve its acquisition of Baker Hughes Inc. as the oil-service providers continue to work on a package of concessions to assuage competition concerns. More »

Drillers see dire impact at worst time from Obama's methane plan

The Obama administration’s decision to crack down on methane leaking from oil and gas wells across the country promises to reduce greenhouse gases but also imposes new costs on an industry that’s already reeling. More »

Saudi Aramco said to seek advice on assets and timing for IPO

Saudi Arabian Oil Co. has asked consultants to bid for a role advising it on which assets to privatize and how to execute a potential share sale as the kingdom presses ahead with plans for an initial public offering, people with knowledge of the matter said. More »

Drillinginfo appoints Jeff Hughes as president, COO

Drillinginfo has announced the appointment of Jeff Hughes as president and COO. More »

Arkansas state agencies stop work on EPA's carbon rule

The Arkansas Department of Environmental Quality (DEQ) and the Public Service Commission (PSC) will not implement a state plan to comply with EPA's carbon rule during the Supreme Court’s stay, the state agencies said in a joint statement. More »

Total EandP Angola awards Technip three-year contract

Technip Angola Engenharia Limitada, a joint venture between Technip and Sonangol, has been awarded a three-year engineering services contract by Total EandP Angola. More »

GE oil chief weighing Iran opportunities in growth strategy

General Electric Co. is plotting a strategy for its oil and gas business in Iran as the U.S. eases sanctions with the petroleum-rich country. More »

Oil, gas well emission cuts agreed to by U.S. as Canadian PM visits

President Barack Obama and Canadian Prime Minister Justin Trudeau announced steps to limit methane emissions from existing oil and natural gas wells, a move intended to underscore their commitment to combat climate change. More »

PetroRio pulls out of Namibia exploration

PetroRio is terminating its exploratory activities in Namibia, the company said in a statement. More »

Chariot kicks off 3D seismic survey offshore Brazil

Chariot Oil and Gas Ltd. has commenced a 3D seismic acquisition survey of approximately 785 km2 covering its wholly operated BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 licenses in the Barreirinhas basin, offshore Brazil. More »

Oil ends at three-month high as gasoline demand cuts supplies

Oil rose to the highest level in three months after a government report showed stronger demand for gasoline reduced fuel inventories. More »

Baker Hughes enrolls in ROIP, recognized for its GoM Center of Excellence

Baker Hughes announced today that it is the first service company to have enrolled in the new Regional Operational Integrity Program (ROIP) for the petroleum and natural gas industry, and to receive Gold Recognition for its Gulf of Mexico (GoM) Center of Excellence from the Wollam Petroleum Advisory Group (WPAG). More »

New Argus WTI Houston crude oil futures trade

WTI Houston (Argus) financial futures listed on CME Group's NYMEX exchange traded on Tuesday, March 8, for the first time since the launch of the financial contracts last month. More »

Seatronics, RTS achieve 100 successful installations with SDM

Seatronics, an Acteon company, and Norwegian associates RTS, have achieved 100 successful global installations with the Subsea Deflection Monitoring system (SDM). More »

WPX Energy completes sale of San Juan basin gathering system

WPX Energy has completed the sale of its San Juan basin gathering system for a consideration of approximately $309 million. More »

Chesapeake said to weigh sale of assets in Oklahoma’s Stack region

Chesapeake Energy Corp. is weighing a sale of some of its holdings in an oil-soaked patch of shale in Oklahoma known as the Stack, as the natural gas giant unloads assets to pay down debt, according to people familiar with the matter. More »

Total plans hunt for 'elephant' oil find off Uruguay's coast

France’s Total SA is weeks away from drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Uruguayan waters. More »

Deep Down wins mooring line system order from Shell

Deep Down, Inc., an oilfield services company specializing in deepwater and ultra-deepwater oil production distribution system support services, has received an order from Shell for an umbilical and distribution system to support a production platform mooring line control system. More »

2H Offshore launches new fracture mechanics software

2H Offshore has designed and launched a new engineering critical assessment (ECA) software: FlawIQ. The software automates both BS7910 and API 579 procedures, making it faster and simpler to perform accurate fatigue assessments for offshore components. More »

KJ Energy acquires interests in 329 wells in East Texas, North Louisiana

KJ Energy, LLC has announced the acquisition of oil and gas producing assets in East Texas and North Louisiana. The transaction closed on Feb. 29. More »

Cairn Energy gains most in 16 months after successful appraisal well offshore Senegal

Cairn Energy Plc gained the most in 16 months after the explorer reported positive results from an oil well off Senegal, potentially opening up commercial development for the area. More »

Great Yarmouth could be world-class decommissioning center, conference hears

Great Yarmouth has a “golden opportunity” to be the world-class center of excellence for the multi-billion pound decommissioning program in the southern North Sea (SNS) and beyond, industry leaders announced. More »

DNV GL looks to pump up subsea processing with JIP on standardization

A joint industry project (JIP) to standardize subsea processing systems has been kick started by DNV GL with industry partners Petrobras, Shell, Statoil and Woodside. More »

Rosneft kicks off exploratory drilling offshore Vietnam

Rosneft Vietnam, a Rosneft subsidiary, has started drilling exploration well PLDD-1X at Block 06.1 offshore Vietnam. This is the first time Rosneft has acted as operator of a drilling project in International waters. More »

Report: Oil and natural gas industry creating more opportunities for women, minorities

Women and minorities will fill an exceptional number of the nearly 1.9 million job opportunities projected in the oil and natural gas and petrochemical industries by 2035, according to a new IHS report sponsored by API. More »

TGS appoints new CEO as Hobbs retires

Kristian Johansen will succeed Robert Hobbs as CEO of TGS on March 11, the company said Wednesday. After eight years with TGS, including nearly seven years as CEO, Hobbs has decided to retire. More »

Shell seen as best oil major wager by analysts after BG deal

Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53-billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the CEO by putting the enlarged company in pole position to exploit a market upturn. More »

U.S. oil production headed to four-year low as shale boom wanes

U.S. crude production will fall to its lowest since 2013 next year as battered shale drillers idle rigs to conserve cash, according to a government report. More »

CONSOL Energy, Magnum Oil Tools partner in Utica shale

Magnum Oil Tools has announced the successful deployment of 20 Magnum Vanishing Plugs (MVP) in the Utica for CONSOL Energy. The MVP is a wellbore isolation tool that drastically reduces time to production. More »

Oil falls from two-month high as U.S. supplies seen growing

Crude oil fell from the highest level in two months on expectations that reports will show U.S. inventories rose last week to an eight-decade high. More »

Biggest LNG buyer turns seller as reload terminal set to start

A facility on Japan’s Pacific coast will be ready next month to ship LNG abroad, as a global glut turns the world’s biggest buyer into a seller of the fuel. More »

Proppant market exceeded 100 billion pounds in 2015, report finds

PropTester, Inc. and KELRIK LLC have announced the release of the 2015 Proppant Market Report. The report provides a detailed overview of the global proppant market in relation to prior years. More »

Trelleborg introduces new sealing material for extreme temperature applications

Trelleborg Sealing Solutions has introduced two advanced elastomers engineered to withstand extremely low temperatures while meeting rigorous international standards for elastomeric material in oil and gas production. More »

Transocean delays delivery of five high-spec jackups

Transocean has announced a mutual agreement with Keppel Offshore and Marine Ltd.'s shipyard, Keppel FELS, to defer the delivery and related payments of five high-specification jackups until 2020. More »

Tax reform vital for future UK production, Oil and Gas UK says

LONDON -- Oil and Gas UK has set out its proposals for tax changes in the forthcoming Budget to boost the industry’s competitiveness and investors’ confidence in the UK Continental Shelf (UKCS). More »

Shale gas proves more resilient than U.S. government expected

America’s energy explorers have become so good at pulling natural gas out of the ground that government forecasters are having a hard time figuring out how much they’re producing. More »

Old-school ways beating oil rout in birthplace of petroleum age

Charlie Fairbank, the great grandson of one of the world’s first oilmen, has turned to a century-old technology to keep his 350 Ontario oil wells competitive in a world of $35 crude. More »

Chevron achieves first LNG production at Gorgon

Chevron has started producing LNG and condensate at the Gorgon Project on Barrow Island off the northwest coast of Western Australia. The first LNG cargo is expected to be shipped next week. More »

Brent tops $40 for first time since December on output

Brent crude rose above $40 for the first time since December as major producers prepared to meet to discuss a production freeze and U.S. output finally shows signs of declining. More »

Clinton doubles down against fracing in debate, raising alarms

Hillary Clinton’s promise during a debate Sunday to aggressively regulate fracing deepens the divide between Republican and Democratic presidential candidates on oil and gas development and signifies her continued shift to the left on environmental issues. More »

UK regulator launches exploration license competition

The Oil and Gas Authority—the UK’s industry regulator—has launched a competition linked to future exploration licensing rounds in order to stimulate further offshore oil and gas exploration activity in the United Kingdom Continental Shelf (UKCS). More »

Pulse Structural Monitoring launches next generation of INTEGRIpod subsea motion, data logging sensor systems

Pulse Structural Monitoring, an Acteon company, has launched a third generation INTEGRIpod platform as a new addition to its INTEGRI range of structural monitoring sensor systems. More »

Prosafe awards HB Rentals contract in excess of $1.4 million

Offshore accommodation and workspace specialist HB Rentals has been awarded a contract with Prosafe worth in excess of $1.4 million. More »

Oil price ‘correction’ seen by year-end by U.A.E. energy minister

The United Arab Emirates foresees a “correction” in crude prices by the end of the year, and the OPEC member has yet to receive an invitation to a possible meeting of oil-producing nations seeking to rein in a global supply glut, Energy Minister Suhail Al Mazrouei said. More »

LRE launches new land rig critical equipment survey

A new equipment survey provides a cost effective solution for assessing the integrity of land rigs. It helps operators and rig contractors limit downtime, as well as improve the reliability, safety and environmental impact of drilling programs. It also reduces inspection costs by up to 50%. More »

Statoil terminates contract for COSL semisubmersible

Statoil has, on behalf of the Troll license, decided to exercise its contractual right to terminate the contract with COSL Offshore Management for the chartering of the COSLInnovator semisubmersible. More »

Dorf Ketal expands into upstream market with Flowchem acquisition

Dorf Ketal Chemicals India Private Ltd., a Mumbai-based leader in specialty chemicals, has acquired Flow-Chem Technologies LLC, based in Rayne, La. More »

Lundin drills dry well southwest of Luno II discovery

Lundin Norway, operator of production license 544, is in the process of completing the drilling of wildcat well 16/4-10. The well is dry. More »

Exceed to support Fairfield Energy in North Sea PandA campaign

Well management firm Exceed has secured a contract to support Fairfield Energy Ltd. in its forthcoming North Sea well plugging and abandonment campaign. More »

IWCF launches first free training for basic well control awareness

The International Well Control Forum has launched a global online training course, which will be free to everyone in the industry to increase knowledge around what can cause a well blowout and potential oil spill incident. More »

Premier Oil shares gain on plans to merge North Sea operations

Premier Oil Plc advanced the most in almost three weeks after the North Sea explorer told the Financial Times it’s planning to merge operations with some rivals to cut costs. More »

China's CNPC to cut capex 23%, lower oil output on price crash

China National Petroleum Corp. said it will cut capital spending this year by more than 20% and sees domestic crude production slipping as the country’s biggest oil and gas company looks to shore up profit amid the energy downturn. More »

Oil extends advance above $36 as U.S. explorers idle more rigs

Oil extended gains above $36/bbl as U.S. drillers cut the number of active rigs to the lowest in more than six years amid a global glut. More »

Iranian oil lands in Europe for first time since sanctions ended

The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of one million barrels of crude in just 17 days, but its journey has been four years in the making. More »

Lloyd’s Register Energy, The Well Academy deliver IWCF enhanced renewal training course

The Well Academy and Lloyd’s Register Energy’s Drilling Training Academy have launched their first combined training program; a new IWCF certified enhanced drilling well control training course. More »

McClendon's actions aren't uncommon across U.S. shale patch

The actions that resulted in former Chesapeake Energy Corp. chief Aubrey McClendon’s indictment aren’t uncommon across the shale patch, lawyers and analysts said. More »

U.S. drillers pull rigs for eleventh week as total count dips below 500

U.S. drillers pulled eight oil-directed rigs from the field this week as the total rig count dropped 500 for the first time since April 1999. The rig count has now fallen for 11 straight weeks. More »

Weatherford wins plug and abandonment award

Weatherford was named PandA Pioneer at the DecomWorld Awards 2016, held on Feb. 23 during the DecomWorld Decommissioning and Abandonment Summit in Houston. More »

Petrofac launches DECC-approved UK oil spill response course

LONDON -- Petrofac has launched a new online training course approved by the UK’s Department of Energy and Climate Change (DECC) to address oil spill preparedness. More »

McDermott wins offshore project in the Middle East

McDermott International has been awarded a large contract by an upstream oil and gas operator for an offshore project in the Middle East. More »

New civil antitrust claims filed against Chesapeake, SandRidge Energy

A class of oil and gas royalty owners has filed a civil antitrust lawsuit against Chesapeake Energy Corporation, SandRidge Energy Corp. and former SandRidge CEO Tom Ward. More »

Transocean sees rig glut dragging out offshore-drilling recovery

Offshore drillers struggling with plunging demand will start getting more work before they get more money, according to Transocean Ltd., the biggest rig company by market value. More »

Exxon Mobil joins race to export crude as U.S. oil glut swells

Exxon Mobil Corp. has become the first major U.S. oil company to ship American crude overseas, joining a band of independent traders that are trying to ease a glut at home after a 40-year export ban was lifted. More »

McClendon's American Energy says it will continue operations

American Energy Partners LP, the firm created by Aubrey McClendon, said it would continue its work despite its founder’s death in a car crash Wednesday. More »

Aubrey McClendon collected Chesapeake paychecks until his death

The late shale entrepreneur Aubrey McClendon was entitled to more than $56,000 a week in salary and bonuses from Chesapeake Energy Corp. up until his death Wednesday, even though he was fired by the natural gas giant almost three years ago. More »

Eni's Clean Sea technology to debut in Mediterranean, West Africa

Clean Sea, proprietary technology designed by Eni's research laboratories, will be used for the first time for marine environmental monitoring and offshore asset inspection in the Mediterranean region and West Africa. More »

Canadian Natural cuts 2016 budget as oil-price view darkens

Canadian Natural Resources Ltd. lowered its 2016 capital budget about 22%, joining peers in clawing back investments as price assumptions fall in the worst oil rout in a generation. More »

LQT Industries wins multiple Gulf of Mexico refurbishment projects

LQT Industries, LLC has been awarded projects from five EandP companies in the Gulf of Mexico. More »

Production vessel arrives in Ghana for TEN startup: Tullow

Tullow Oil Plc, a British explorer focused on Africa, said an oil production and storage vessel has reached Ghana for the scheduled start of output at its newest field in July or August. More »

Santos completes sale of interest in Australia’s Kipper field

Santos has completed the sale of its non-operated interest in Kipper gas field, the Adelaide-based company said Wednesday. More »

CRS report highlights lack of detail on Obama’s proposed oil tax

U.S. Sen. Lisa Murkowski, R-Alaska, has released a new analysis by the Congressional Research Service (CRS) of the Obama administration’s proposed tax on oil. The report outlines a list of significant unanswered questions and ambiguities in the proposal. More »

Det norske acquires Noreco’s Norwegian portfolio

Det norske oljeselskap has entered into an agreement with Noreco Norway to acquire Noreco’s Norwegian license portfolio, including a $5.2 million (NOK 45 million) cash balance. The effective date of the transaction is Jan. 1, 2016. More »

Lundin’s Maligan well hits gas offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has completed the Maligan exploration well in Block SB307/SB308, offshore East Malaysia. More »

Xodus delivers ‘world first’ gas modeling for Australia Pacific LNG

Xodus Group has delivered a new integrated production modeling simulation suite for Origin to run complex scheduling scenarios for the Australia Pacific LNG project. More »

OPEC to meet non-members in Russia on March 20, Nigeria says

Key members of the Organization of Petroleum Exporting Countries intend to meet with other producers in Russia on March 20 to renew talks on an agreement to cap oil output, Nigeria’s petroleum minister said. More »

Yergin sees output freeze restoring balance to global oil market

Russia and Saudi Arabia’s agreement to cap oil output will help bring the market back into balance and trigger a rebound in prices in the second half of this year, said Daniel Yergin, vice chairman of energy consulting group IHS Inc. More »

Shale pioneer Aubrey McClendon killed in car crash, police say

OKLAHOMA CITY (Bloomberg) -- Aubrey McClendon was killed in a car crash in Oklahoma City Wednesday, police said. His death comes a day after he was charged with rigging bids for oil and natural gas leases. More »

Lukoil, Bashneft JV spuds first wildcat on prospect in Russia’s Nenets Autonomous District

Vostok NAO, a joint venture of Lukoil (50%) and Bashneft (50%), has begun drilling exploration well No.1 on the Yuzhno-Visovaya prospect in Severo-Yareyyaginsky Block in Russia’s Nenets Autonomous District. More »

Oklahoma City Police say Aubrey McClendon dead

OKLAHOMA CITY (Bloomberg) -- Aubrey McClendon, the shale pioneer who co-founded Chesapeake Energy Corp., was reported dead by Oklahoma police. More »

Oil and Gas UK, EEEGR agree to closer working relationship

Oil and Gas UK and East of England Energy Group (EEEGR) have signed a Memorandum of Cooperation (MoC) with the aim of developing a closer relationship, which better serves and promotes the interests of the organisations’ members and the UK oil and gas industry in general, while recognizing the independent and autonomous authorities of each entity. More »

Exxon Mobil reduces output target amid prolonged spending cuts

Exxon Mobil Corp. scaled back its production target and said spending on capital projects will continue to drop through the end of next year as the rout in oil and natural gas markets curbs cash flow. More »

Wintershall comes up dry northwest of Arenaria gas discovery in Barents Sea

Wintershall Norge, operator of production license 611, is in the process of completing the drilling of wildcat well 7224/2-1. The well is dry. More »

Total EandP UK selects Asset Guardian Solutions software

LIVINGSTON, Scotland -- Asset Guardian Solutions Ltd., which specializes in protecting companies’ process control software assets, announced that Total EandP UK has selected its software management platform Asset Guardian. More »

Oil drops from eight-week high as U.S. crude stockpiles expand

Oil declined from the highest closing level in eight weeks in New York after a surge in U.S. crude stockpiles compounded a global glut. More »

Dana Gas starts production from Zora gas field in the U.A.E.

Dana Gas said Wednesday that sales gas production from Zora gas field, in the United Arab Emirates, commenced on Feb. 28. More »

Total drills dry well northeast of North Sea’s Garantiana discovery

Total EandP Norge, operator of production license 554, is in the process of completing the drilling of wildcat well 34/6-4. The well is dry. More »

Subsea 7 awarded contract offshore UK

Subsea 7 has secured a sizeable extension to the existing contract by BP Exploration Operating Company Ltd., for the provision of Subsea Construction, Inspection, Repair and Maintenance (IRM) services in the North Sea. More »

Statoil wins six licensing options offshore Ireland

Statoil Exploration (Ireland) Ltd. has been awarded six Licensing Options in Ireland’s 2015 Atlantic Margin Licensing Round. More »

Cyberhawk completes offshore ROAV inspection in North America

Cyberhawk Innovations has completed an offshore remotely operated aerial vehicle (ROAV) inspection in North America for one of the world’s largest oil and gas supermajors. More »

Saudi Arabia faces new oil titan if it wins shale battle

Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. More »

Battered U.S. oil firms raise most in equity sales since `99

Wall Street investors are throwing a lifeline to the embattled U.S. energy sector. U.S. oil and gas companies from Marathon Oil Corp. to Weatherford International Plc have announced plans to raise about $9.2 billion in new equity, the most year-to-date since at least 1999, according to data compiled by Bloomberg. More »

Former Chesapeake CEO Aubrey McClendon indicted over lease bid rigging

Aubrey K. McClendon has been charged by a federal grand jury with conspiring to rig bids for the purchase of oil and natural gas leases in northwest Oklahoma, the Department of Justice announced today. More »

Australia’s Origin Energy signs LNG supply deal with China’s ENN

Origin Energy Ltd. has signed a non-binding heads of agreement with ENN LNG Trading Company Ltd. for the supply of 500,000 tonnes of LNG per year for a period of five years. By mutual agreement, the parties have the ability to extend the supply period by an additional five years. More »

Noble Corp. jackup damaged in shipyard incident

Noble Corp.’s newbuild jackup, the Noble Lloyd Noble, was damaged following the collapse of a shipyard crane boom operating near the rig, the company said Tuesday. More »

SNC-Lavalin wins $800-million EPC project in the Middle East

SNC-Lavalin has been awarded a significant oil and gas contract in the Middle East with an approximate value of $800 million. More »

Anadarko to sell $3 billion in assets this year

Anadarko Petroleum Corp. rose after announcing plans to sell $3 billion in assets this year while cutting spending on new wells and other projects by almost 50% as the oil and natural gas producer weathers the crude market collapse. More »

Schlumberger introduces AxeBlade ridged diamond element bit

Smith Bits, a Schlumberger company, announced today the release of the AxeBlade ridged diamond element bit, which incorporates new-geometry Axe ridged diamond elements across the bit face. More »

JDR wins IWOCS contract from Aker Solutions

JDR, a UK-based supplier of subsea umbilicals and power cables to the offshore energy industry, has been awarded a contract for intervention, workover and control systems (IWOCS) by the subsea division of Aker Solutions. More »

Petronas may cut 1,000 jobs as oil slump prompts reorganization

Petroliam Nasional Bhd., Malaysia’s state oil company, announced management changes and plans to cut workers as it seeks to trim operating costs to cope with the worst price slump in a generation. More »

Live QRA view transforms offshore risk metrics into operational improvements

Offshore operators need access to quantitative risk analyses (QRA) to support daily operational decisions. If the data is not presented clearly and intuitively, the operator may not take important information into account, causing uncertainties and unqualified decisions. More »

Husky starts steam operations at Edam East heavy oil project

Husky Energy has started steam operations at the Edam East heavy oil thermal project in Saskatchewan, the first of three new thermal projects coming online this year. More »

Statoil starts drilling production wells at Johan Sverdrup

The Deepsea Atlantic semisubmersible started the first of 35 wells to be drilled as part of the first phase of the Johan Sverdrup field development on Tuesday, the field's operator, Statoil, said. More »

Oil gains as OPEC crude production drop counters China slowdown

Oil climbed from the highest close in more than seven weeks as investors overlooked deteriorating Chinese manufacturing amid the first monthly decline in OPEC production since November. More »

Marathon seeks $1.3 billion in stock sale to weather oil price rout

Marathon Oil Corp. joins a slew of U.S. producers selling shares to shore up their finances as they endure the worst market rout in a generation. More »

Oil collapse will force all producers to cap volumes, says U.A.E.

The oil-price collapse will compel all producers to freeze output and no early OPEC meeting can take place without such a move, the United Arab Emirates’ energy minister said. More »