Texas shale is big winner as OPEC deal brightens oil outlook

The biggest beneficiaries of OPEC’s decision to shrink oil production will include its most implacable enemies: U.S. shale drillers. More »

OPEC fights against history, $1-trillion money manager says

David Hunt, CEO of PGIM, Prudential Financial Inc.’s $1-trillion asset manager, cautioned against overreacting to the surge in oil prices as OPEC clinched a deal to curtail supply. More »

Shell to start feeling Norway heat on Ormen Lange gas project

Norway expects Royal Dutch Shell Plc to go forward with a shelved project to boost recovery of natural gas at the Ormen Lange field, and warned it will start pushing the company for progress from next year. More »

OPEC to cut production by 1.2 MMbpd in drive to end oil glut

OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut—and prove the group’s credibility—brought its first cuts in eight years. More »

U.S. crude inventories fall for second week

Oil maintained gains after a government report showed U.S. crude inventories declined for a second week. More »

Oil jumps as OPEC said to agree to first supply cut in 8 years

VIENNA (Bloomberg) -- Oil surged after OPEC was said to agree on the first supply cuts in eight years in an effort to ease a record glut and stabilize global markets. More »

Baker Hughes to create pure-play pressure pumping company with CSL, WSEP

Baker Hughes, CSL Capital Management and West Street Energy Partners (WSEP), a fund managed by the Merchant Banking Division of Goldman Sachs, has announced an agreement to create a pure-play North American land pressure pumping company. More »

Baker Hughes to create a pure-play pressure pumping company with CSL, WSEP

Baker Hughes, CSL Capital Management and West Street Energy Partners (WSEP), a fund managed by the Merchant Banking Division of Goldman Sachs, has announced an agreement to create a pure-play North American land pressure pumping company. More »

Aker BP awards new frame agreement to DNV GL

Aker BP, one of Europe’s largest independent oil companies, has awarded a new frame agreement to DNV GL, covering a wide range of safety, verification, inspection and classification services across its installations on the Norwegian Continental Shelf. More »

Centrica sells Trinidad and Tobago gas assets to Shell

Centrica has agreed to sell its entire portfolio of gas assets in Trinidad and Tobago to Shell Exploration and Production for an initial cash consideration of $30 million. More »

Centrica submits development plan for North Sea’s Oda field

Centrica has submitted the Plan for Development and Operation (PDO) for Oda field to Norway’s Ministry of Petroleum and Energy. Centrica and its partners will invest about NOK 5.4 billion in the development of Oda field, which is scheduled to start production in 2019. More »

Aibel awarded contract for Statoil’s Troll C platform

Aibel has been awarded a FEED study for the installation of a new gas module on Statoil’s Troll C platform. The contract also has an option for the implementation phase. More »

Jacobs wins Shell contract for Gulf of Mexico platform

Jacobs Engineering Group has been awarded a contract from Shell Offshore for its Vito host project in the Gulf of Mexico. More »

KCA Deutag secures North Sea drilling contracts

KCA Deutag has been awarded a three-year contract extension by a major North Sea operator for drilling on four platforms in the UK North Sea. More »

Canada boosts oil patch as Trudeau backs Kinder Morgan, Enbridge pipelines

Kinder Morgan and Enbridge won Canadian government approval for two pipeline projects—a long-awaited boost for the oil industry that could potentially expand exports, open new Asian markets and lift prices for locally produced barrels of crude. More »

OPEC ministers say deal close as meeting on oil cuts begins

After weeks of often tense negotiations, OPEC ministers gathering in Vienna expressed renewed optimism about salvaging a deal to cut oil production and prop up global prices. More »

OPEC deadlocked as Iran, Saudis harden positions on oil deal

An OPEC deal to curtail oil production appeared in jeopardy as Iran said it won’t make cuts while Saudi Arabia insisted Tehran must be willing to play a meaningful role in any agreement. More »

BoomTown Oil, Juniper eye Eagle Ford with new partnership

Private equity firm Juniper Capital II, L.P. has announced a strategic partnership with BoomTown Oil to pursue and develop conventional and unconventional plays across multiple basins in the Lower 48, initially focusing on the Eagle Ford shale in South Texas. More »

Energy job losses continue but optimism rises, report finds

There has been no slowing in the job losses in the oil and gas industry this year, and there are further cuts to come, but the crisis could be reaching a turning point, according to a new industry report. More »

Over 600 offshore projects to be decommissioned over the next five years

The decommissioning of aging offshore oil and gas platforms, subsea wells and related assets is increasing dramatically, with more than 600 projects expected to be disposed of during the next five years. This rapid trend toward decommissioning is causing spending to rise significantly, according to a new study by IHS Markit. More »

Decommissioning of offshore OandG facilities increasing with annual spend predicted to rise to $13 billion by 2040

The decommissioning of aging offshore oil and gas platforms, subsea wells and related assets is increasing dramatically, with more than 600 projects expected to be disposed of during the next five years. This rapid trend toward decommissioning is causing spending to rise significantly, according to a new study by IHS Markit. More »

Energean secures exploitation license for West Katakolon, offshore Western Greece

The Greek Ministry of Energy and Energean Oil and Gas, an independent oil and gas EandP company in the Eastern Mediterranean, have agreed the conversion of the exploration license for the proven West Katakolon offshore field to a 25-year exploitation license with immediate effect. More »

Iran rules out production cut ahead of OPEC meeting

Oil retreated below $46/bbl in New York after OPEC officials failed to work out a compromise deal to ease a global supply glut and Iran ruled out reducing its production. More »

Indonesia's expiring production licenses valued at $10 billion

In a recent report, Indonesia’s expiring PSCs: $10 billion of potential upstream value, Wood Mackenzie valued Indonesia's expiring oil and gas production licenses or production sharing contracts (PSCs) at close to $10 billion. More »

GustoMSC reveals Scylax drillship design

GustoMSC, an independent design and engineering company, has unveiled a new drillship design: Scylax. The new design aims to facilitate mid- to deepwater developments by providing fit-for-purpose capabilities. More »

Emerson helps Kuwait Oil Company maximize value of reservoir assets

Emerson Automation Solutions has supplied its Roxar RMS reservoir modeling software to Kuwait Oil Company (KOC). The new licenses will be used to build more accurate and detailed reservoir models. More »

Biggest LNG sellers warn top buyer over price of its freedom

The world’s biggest liquefied natural gas suppliers have a warning for Japan: flexibility will likely cost you. More »

Exxon, Chevron set to bid in Mexico’s deepwater auctions

Chevron has joined forces with Petroleos Mexicanos and Japan’s Inpex Corp. to bid next week for the right to explore for oil and natural gas, the first time the state-owned operator will partner with private companies to develop crude in the Gulf of Mexico. More »

Goldman sees OPEC meeting down to the wire with 30% chance of deal

The oil market is pricing in a 30% chance of producers reaching a deal to cut output at OPEC’s meeting in Vienna, according to Goldman Sachs Group. More »

GE Oil and Gas makes $25-million investment in Tellurian Investments

Tellurian Investments Inc. has announced that GE Oil and Gas has made a $25 million preferred equity investment in Tellurian, which has an implied Tellurian Investment Inc. Common Stock value of $5.94 per share. More »

Shale rebound starts with costlier grains of sand

The oilfield service companies that supply everything from sand to sophisticated robot rigs are seeking a new lease on life as America’s fracing fortunes begin to turn. More »

Hurricane Energy signs agreement for use of FPSO at Lancaster field

Hurricane Energy has announced that it has signed Heads of Terms with Bluewater Energy Services (BES) for the use of the Aoka Mizu Floating Production Storage and Offloading Vessel (FPSO) on the Company's Lancaster field, West of Shetland. More »

Shale fracing rebound starts with costlier sand

The oilfield service companies that supply everything from sand to sophisticated robot rigs are seeking a new lease on life as America’s fracing fortunes begin to turn. More »

AGR named as registered reserves auditor by Mexican authorities

AGR’s business in the Americas, AGR F.J. Brown Inc., has been confirmed as an approved third party supplier to the country’s oil and gas operators, to certify and audit reserves. More »

Maersk Supply Service secures new decommissioning contract

As a result of efficient project management and strong synergies with partners on the Janice decommissioning project, Maersk Supply Service has secured a second contract with Maersk Oil UK for the Leadon subsea decommissioning in autumn 2017. More »

Saudi Aramco in trillion cell reservoir simulation run

The EXPEC Advanced Research Center (EXPEC ARC) TeraPOWERS Technology Team, under the leadership of Saudi Aramco fellow Ali Dogru, has achieved a major breakthrough with the industry’s first trillion cell reservoir simulation run. More »

OPEC’s last cut shows oil market could get a whole lot messier

More »

Oil investors have $490 billion riding on OPEC decision

More »

BP acquires interests in two North Sea exploration prospects

More »

Centennial expands with $855-million Delaware basin deal

Centennial Resource Development has agreed to acquire all of the leasehold interests and related upstream assets in Reeves County, Texas, from Silverback Exploration, LLC. More »

BP farms into Eni’s supergiant Zohr gas field offshore Egypt

BP has agreed to buy from Eni a 10% interest in Egypt's Shorouk concession, which contains the supergiant Zohr gas field, for $375 million. More »

BP buys stake in Eni’s supergiant Zohr gas field

More »

OPEC tries to salvage deal as Saudis say cut may not be needed

OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal. More »

Low oil prices create a $1-billion business killing aging fields

Low crude prices that have been hammering oilfield service companies for the past two years might be ready to give a little back. More »

Even if OPEC gets a deal, it risks reviving battered oil rivals

Three days from a crucial meeting, OPEC’s deal to curb oil production and end years of global oversupply hangs in the balance. More »

Iran said to assess 1.1 MMbpd collective OPEC cut

Iran is assessing a proposal for a collective OPEC output cut, but hasn’t announced any commitment to reduce its own production as the group tries to end disagreements about how to share the burden of supply cuts ahead of a meeting in Vienna. More »

Cheniere ships second U.S. shale gas cargo to China

China is on the verge of receiving its second shipment of shale gas from the U.S. More »

Saudis sink Russia oil talks as OPEC deal hangs in the balance

Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna. More »

Realtor turns oil producer as India eyes domestic production boost

A drugmaker, a real estate developer and an edible oil company are among firms answering India’s call to tap undeveloped oil fields and become the newest explorers in the world’s fastest-growing energy consumer. More »

Total to operate Ivory Coast re-gasification project

The CI-GNL (Ivory Coast LNG) consortium led by Total has been awarded the rights to build and operate a liquefied natural gas (LNG) re-gasification terminal in Ivory Coast with a capacity of 3 mtpa. More »

Nigeria eyes U.S. shale as OPEC readies oil cuts

As OPEC prepares for talks on eliminating a global crude glut, Nigeria’s oil minister says he’s more concerned about the potential for U.S. shale suppliers to replace the lost barrels by ramping up their own output, quelling any price rally the producer club might achieve. More »

Nigerian oil misses goals after legal gridlock deters investors

When OPEC exempted Nigeria from its plan to cut oil output for the first time in eight years, it highlighted how far Africa’s biggest producer has fallen. More »

Lukoil puts new facilities into operation at heavy oil field

Lukoil has brought a new facility for the treatment and gathering of oil into operation at Yaregskoye field in the Republic of Komi, Russia. More »

OPEC’s last push for oil-cuts deal shifts focus to Iran, Russia

OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts. More »

IEA report warns on flexibility of global LNG market

While the rise of the liquefied natural gas market has accelerated the globalization of natural gas, the energy security implications of this transformation have attracted much less attention. More »

IEA moves to enhance global gas security with new report

More »

OMV shuts in Maari field after crack found in platform strut

OMV New Zealand, the operator of Maari oil field, has ceased oil production and is de-manning the Maari wellhead platform (WHP) as a precautionary measure while it deals with a crack found in one of the platform’s horizontal struts. More »

OMV New Zealand shuts in Maari oil field after crack found in platform strut

OMV New Zealand, the operator of Maari oil field, has ceased oil production and is de-manning the Maari wellhead platform (WHP) as a precautionary measure while it deals with a crack found in one of the platform’s horizontal struts. More »

Leviathan field partners clinch $700-million deal

The partners owning rights to Leviathan, Israel’s largest natural gas deposit, signed a $700-million contract to supply gas to Paz Oil Co., as arrangements to finance the project are nearing completion. More »

Partners in Shell oil field face tax claim, Kazakh president says

Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell and Eni, has unpaid taxes. More »

Oil price hike from OPEC deal may snuff itself out, IEA says

An oil price surge triggered by a successful OPEC agreement to cut production could be snuffed out as supply surges back, according to the head of International Energy Agency. More »

Saudi Aramco awards contract extension to Jacobs

Jacobs Engineering Group has received an amendment from Saudi Aramco for its general engineering services (GES) contract. More »

Technip, FMC Technologies receive EU antitrust clearance

FMC Technologies and Technip have announced that the pending combination between the companies has received a clearance decision from the European Commission under Council Regulation (EC) No 139/2004. More »

Summit ESP reaches 7,000th installation with Apache well

Summit ESP, an electric submersible pump and surface pumping systems provider, completed its 7,000th ESP installation during the fourth quarter on a well for Apache Corporation, the Andrews Unit 550 in Andrews County Texas at a setting depth of 8,404 ft. More »

Trump aides eye Keystone XL revival by rescinding 48-year-old order

Advisers to Donald Trump are exploring ways he can green light the Keystone XL oil pipeline on the day he is sworn into office, including by rescinding a 48-year-old presidential order. More »

Iraq says it will participate in OPEC deal to cut output

Iraq will shoulder part of the burden of oil-output cuts, said Prime Minister Haider Al-Abadi, reversing the nation’s previous insistence for an exemption and potentially removing an obstacle to an OPEC deal next week. More »

Libyan oil production shows signs of continued gains: Wood Mac

Wood Mackenzie's latest study on Libya's oil production shows the country's output has doubled from 300,000 bopd in early September to close to 600,000 bopd today, adding to the global oil supply glut. More »

Saudi Arabia’s latest OPEC headache: Russian reluctance to cut

For months, Russia has told OPEC its preferred option in any eventual oil-supply deal was to freeze production, rather than to cut it. Saudi Arabia, the bloc’s most powerful member, is beginning to think Moscow actually means it. More »

Lukoil raises output at Caspian Sea field with new well

More »

U.S. crude exports aren’t impressing China, India

Two of the world’s fastest-growing economies have barely noticed the first year of unrestricted U.S. crude exports since the 1970s. More »

Statoil, Petrobras close Carcará acquisition

Statoil has completed its acquisition of Petrobras’ 66% operated interest of the BM-S-8 offshore license in Brazil’s Santos basin. More »

Statoil closes Carcará acquisition from Petrobras

Statoil has completed its acquisition of Petrobras’ 66% operated interest of the BM-S-8 offshore license in Brazil’s Santos basin. More »

ATR invests in non-destructive testing inspection services

ATR Group has announced a six-figure investment towards developing its inspection capabilities which will see in-house personnel delivering further rope access services and non-destructive testing (NDT), a method fast becoming one of the most in-demand techniques used by the energy industries across the globe. More »

Pipeline billionaire streamlines empire with Energy Transfer, Sunoco deal

Kelcy Warren, the billionaire pipeline investor who founded Energy Transfer Equity LP, is working to consolidate his empire. More »

Norwegian producers deepen record spending cuts amid rout

Oil and gas companies in Norway cut spending forecasts for 2017, deepening what was already a record reduction in offshore investment. More »

Endurance Resources sells Delaware basin assets

Endurance Resources, an oil and gas production company focused on the Delaware basin, has entered into separate definitive sale agreements to sell the majority of its assets, held in two separate entities, to two separate buyers. More »

PGS wins bank support as billionaire Andresens boost investment

Petroleum Geo-Services won conditional agreement from banks for a longer credit line and new investment from the billionaire Andresen family, as the Norwegian oil-services provider contends with the crude slump. More »

North Sea oil glut to get short-term relief as flows go east

A glut of North Sea oil that’s helped depress global prices and heap pressure on OPEC is poised for short-term relief after traders booked tankers to take as much as half of the region’s key oil flow to Asia. More »

Norway oil producers deepen record spending cuts amid rout

Oil and gas companies in Norway cut spending forecasts for 2017, deepening what was already a record reduction in offshore investment. More »

Canadian operators seen boosting drilling next year

The Canadian Association of Oilwell Drilling Contractors (CAODC) has released its 2017 drilling forecast. According to a statement on the association's website, CAODC is projecting that 4,665 wells—an increase of 1,103 from 2016 (3,562)—will be drilled next year. More »

Trump’s day one vow can alter energy rules but not market forces

President-elect Donald Trump can deliver on his promise to remove restrictions on U.S. energy production hours after taking office, even though it will take more than the stroke of a pen to rewrite the shifting economic landscape for coal, oil and gas. More »

Seadrill earnings beat forecast as rig market seen improving

Seadrill Ltd.’s earnings beat forecasts as the offshore rig company controlled by billionaire John Fredriksen continues to cut costs and sees signs of improvement in a challenging market. More »

Saudi Arabia’s sway in OPEC limited by resurgent Iraq, Iran

Saudi Arabia’s dominance of OPEC isn’t what it once was. More »

Statoil reports engine room fire on Njord field rig

STAVANGER -- On Tuesday, Nov. 22, the drilling rig Scarabeo 5 reported a fire in an engine room. There are 106 personnel on board, all have been accounted for and no-one has been reported missing. More »

Beach Energy spuds Penneshaw-1 in South Australia

Beach Energy Limited and Cooper Energy Limited have announced that Penneshaw-1, an oil exploration well located in PR L 87 on the western flank of the Cooper basin, South Australia, spudded on Tuesday, Nov. 22, 2016 at 00:15 hours. More »

Oil falls as OPEC said to defer Iranian, Iraqi output cut talks

Oil fell after an OPEC committee failed to agree on Iranian and Iraqi production levels. More »

New infrastructure aims to increase takeaway capacity of natural gas from Utica region: EIA

A number of pipeline projects that have been approved, or are in various stages of the approval process, would increase capacity to transport natural gas from the Utica production region in Ohio to natural gas markets. Collectively, these projects could add up to 6.8 Bcfgd of takeaway capacity out of the Utica region by the end of 2018. More »

Veolia to supply water treatment system module for Woodside FPSO

Veolia has been awarded a multi-million dollar contract for the supply of the customized water flood water treatment system on the Ngujima-Yin Floating Production Storage and Offloading (FPSO) facility that will operate in Woodside’s Greater Enfield Area Development fields, offshore northwest Australia. More »

Gulf Marine Services awarded contract for Mid-Size Class vessel

Gulf Marine Services, a provider of advanced self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, is pleased to announce a new contract award for one of its Mid-Size Class vessels. More »

HB Rentals awarded multiple contracts

Offshore accommodation and workspace solutions specialist HB Rentals has secured contracts in excess of £1,000,000 for the manufacture of workshops, local equipment rooms and pressurized offshore service modules for multiple clients. More »

Maersk Drilling to boost efficiency through Big Data

With help from digital industrial giant General Electric, data from a large amount of sophisticated sensors on a drilling rig are now being processed and analyzed online. The objective: To increase drilling productivity and reduce maintenance costs significantly. More »

Engie EandP Norge extends contract with AGR

AGR has successfully secured a two year extension to a frame agreement to provide personnel services to Engie EandP Norge. More »

Lundin Petroleum announces oil discovery in the southern Barents Sea

Lundin Petroleum announce that its subsidiary, Lundin Norway AS (Lundin Norway), has completed the Neiden exploration well 7220/6-2R as an oil and gas discovery. The well is located in Block PL609, approximately 60 km northeast of the Alta discovery on the Loppa High, in the southern Barents Sea. More »

Big Oil slipped ‘poison pill’ as Norway seeks to limit exodus

As one oil major after the other considers leaving Norway, the alarm bells are sounding at the country’s Petroleum and Energy Ministry. More »

OPEC to agree details of oil-supply cuts today, Nigeria says

OPEC is on course to finalize the details of the Algiers accord to cut oil production at a meeting in Vienna on Tuesday, said a delegate from Nigeria. More »

Swift Energy sharpens Eagle Ford focus with Louisiana sale

Swift Energy has entered into a purchase and sale agreement to sell its Lake Washington field in southeast Louisiana. More »

Talos Energy brings Tornado discovery online

Talos Energy has announced initial production from the Tornado exploration project in Phoenix field in the Gulf of Mexico. The field is located in Green Canyon Blocks 236, 237, 280 and 281 in approximately 2,700 ft of water. More »

Maersk Drilling, NOV challenge traditional maintenance with new partnership

Maersk Drilling and National Oilwell Varco (NOV) have entered into a five-year partnership to improve maintenance predictability for drilling equipment. More »

Concho expands in Delaware basin with $430-million buy

Concho Resources has reached a definitive agreement to acquire approximately 24,000 gross (16,400 net) acres in the northern Delaware basin for approximately $430 million. More »

OPEC quota talks end first day as optimism on output deal grows

Oil traders and analysts grew more confident that OPEC will reach a deal to curb global oversupply next week as delegates said talks on assigning quotas to individual countries made good progress. More »

Oil bets are biggest in 9 years amid OPEC, Trump volatility

Money managers, producers and consumers made the biggest bets on West Texas Intermediate crude prices in nine years, amid signals more volatility is coming. More »

Total, SOCAR sign agreement to develop Absheron discovery

Total and SOCAR, the national oil company of Azerbaijan, have signed an agreement establishing the contractual and commercial terms for the first phase of production from Absheron gas and condensate field. More »

First oil for Scolty/Crathes development for EnQuest, MOL

EnQuest has reported first oil from the Scolty/Crathes development in the Central North Sea. More »

Putin optimistic about OPEC deal, Russia ready to freeze production

Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing to freeze crude output at current levels. More »

Saudi Aramco, Rowan partner to create new offshore drilling company

Rowan Companies and Saudi Aramco have signed, through their subsidiaries, an agreement to create a 50/50 joint venture (JV) to own, operate, and manage offshore drilling rigs in Saudi Arabia. More »

Goldman says OPEC deal probable, raises WTI price forecast

Goldman Sachs Group raised its oil-price forecast for early next year, saying it is “tactically bullish” on the likelihood that OPEC will be able to reach a deal to curb output to steady global markets. More »

Israel gas partners close to $4-billion financing for Leviathan

The companies that own the rights to Israel’s largest natural gas pool are close to securing the $4-billion financing needed to develop the field, according to the CEO of one of the partners. More »

Drillers add most rigs in 16 months amid market optimism

Growing confidence that crude prices will rise in coming months is sustaining the expansion of oil drilling in the shale patch. More »

Obama admin rules out Arctic leases in 2017-2022 OCS plan

After considering more than 3.3 million public comments and holding 36 public meetings, U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Hopper today released the final plan to guide future energy development for the Nation’s Outer Continental Shelf (OCS) for 2017-2022. More »

Petronas achieves first gas from inaugural FLNG facility

Petronas’ first floating liquefied natural gas (FLNG) facility, PFLNG SATU, achieved the first gas milestone from Kanowit gas field, offshore Sarawak, on Nov. 14. More »

Offshore oil and gas leasing plan announced for 2017-2022

After considering more than 3.3 million public comments and holding 36 public meetings, U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Hopper today released the final plan to guide future energy development for the Nation’s Outer Continental Shelf (OCS) for 2017-2022. More »

OPEC-Russia oil talks leave key details unresolved

OPEC said it made progress toward a deal to cut production by more than 1 MMbpd after another round of oil talks with Russia, but left crucial details including the role of Iraq and Iran to be resolved later this month. More »

Scientific evidence in EPA study confirms safety of hydraulic fracturing process

API released a new report by Catalyst Environmental Solutions showing that the Environmental Protection Agency’s (EPA) finding of no widespread effects to drinking water quality is supported by state and federal regulatory reviews, and dozens of recent peer-reviewed case studies. More »

The impact of rapid growth in renewables: Wood Mac

The next global energy transition is already under way, posing risks for some of the world’s largest energy companies. More »

Tesco names John Gatlin as senior V.P and COO

Tesco Corporation has appointed John Gatlin as senior V.P. and COO, effective immediately. In this role, Gatlin will lead both the Products and Tubular Services segments and be responsible for Tesco's QHSE, global manufacturing and supply chain management. More »

New website promotes safety to prevent dropped object accidents

Dropped object risks account for a significant number of severe accidents in the offshore and other labor intensive industries. Westmark BV’s new website offers simple and affordable solutions to prevent such accidents and improve safety. More »

Oil set for gain after OPEC’s informal talks with Russia

Oil recouped losses to head for a weekly gain after OPEC member Algeria said the organization’s meeting with Russia gave it confidence a deal can be reached to re-balance global markets. More »

Petronas achieves first gas with its inaugural FLNG facility

More »

Eni approves investment for Mozambique’s Coral FLNG development

Eni has authorized the investment for the first phase of the Coral South project. The Coral discovery lies offshore Mozambique in the deep waters of the Rovuma basin (Area 4). More »

Modern data science unlocks over 50 years of UKCS data

Over 50 years of North Sea exploration data has been mined as part of a Data Challenge set by Common Data Access (CDA), a subsidiary of Oil and Gas UK established to facilitate the sharing of well and seismic data by the oil and gas industry. More »

Industry-backed study details how fracing can induce tremors

In some parts of western Canada, small to moderate earthquakes have been induced by oil and gas hydraulic fracturing operations. In Alberta, this type of induced seismicity is mainly concentrated within an area located about 30 km west of the town of Fox Creek. More »

Wildcatters flee African deep water to weather oil rout

Drillers burned by a two-year slump in crude prices are slowing exploration of deepwater prospects off the coast of Africa, undermining a key driver of growth on the continent. More »

U.S. shale drillers poised to take hold of global gas market

Shale drillers in the U.S. are about to tighten their grip on the global natural gas market. More »

Suncor shaves C$1 billion from 2017 capital budget, boosts production

Suncor Energy is targeting a capital spending program of between C$4.8 billion and C$5.2 billion and average production of 680,000 boed to 720,000 boed next year, according to the company's corporate guidance for 2017. More »

U.S. drillers about to take hold of global gas market

Shale drillers in the U.S. are about to tighten their grip on the global natural gas market. More »

Nigeria reaches $5.1-billion debt settlement with oil majors

Nigeria reached a $5.1-billion settlement to reimburse foreign oil companies, including Exxon Mobil CNigeria orp. and Royal Dutch Shell Plc for past operating costs. More »

Devon Energy agrees to cancellation of 15 federal leases in Montana

U.S. Secretary of the Interior Sally Jewell today joined U.S. Senator Jon Tester, Blackfeet Nation Chairman Harry Barnes and Devon Energy Corporation President and CEO David Hager to announce that the Bureau of Land Management (BLM) has canceled 15 additional oil and gas leases in the Badger-Two Medicine area of the Lewis and Clark National Forest in northwestern Montana. Devon Energy owns an interest in these federal leases. More »

Devon Energy agrees to cancellation of 15 federal leases in Montana

U.S. Secretary of the Interior Sally Jewell today joined U.S. Senator Jon Tester, Blackfeet Nation Chairman Harry Barnes and Devon Energy Corporation President and CEO David Hager to announce that the Bureau of Land Management (BLM) has canceled 15 additional oil and gas leases in the Badger-Two Medicine area of the Lewis and Clark National Forest in northwestern Montana. Devon Energy owns an interest in these federal leases. More »

Kuwait said to renew contract to supply crude oil to Egypt

Kuwait renewed a contract to supply Egypt with crude oil for the next three years, according to a senior Kuwaiti government official, who said the shipments are not intended to make up for the loss of Saudi fuel shipments to the North African country. More »

U.S. gas glut may have multiplied by ten

America’s natural gas glut probably grew by 30 Bcf last week. For context, consider the usual gain for this time of year: 3 billion. More »

BSEE releases pipeline decommissioning cost regulations

More »

Black Sea OandG awards Midia Gas Development contract to Xodus Group

Black Sea Oil and Gas SRL (BSOG) announced that it has awarded Xodus Group the contract for the front end engineering and design (FEED) of its offshore and onshore facilities for the development of Ana and Doina gas discoveries on XV Midia Shallow Block, offshore Romania. More »

Canada sees Petronas’ $27-billion LNG decision by April

Petroliam Nasional Bhd. will be ready to decide whether to proceed with a proposed $27-billion liquefied natural gas plant on Canada’s Pacific Coast by April, according to Rich Coleman, British Columbia’s minister of natural gas development. More »

Suncor shave C$1 billion from 2017 capital budget, boosts production

Suncor Energy is targeting a capital spending program of between C$4.8 billion and C$5.2 billion and average production of 680,000 boed to 720,000 boed next year, according to the company's corporate guidance for 2017. More »

Santos acquires stake in Papua New Guinea exploration license

More »

Oil steadies as Saudi Arabia says it’s optimistic on production deal

Crude oil traded near $46/bbl as Saudi Arabia, due to meet with Russia and some OPEC nations in Doha, said it’s optimistic that producers will reach an agreement to stabilize world markets. More »

Russia’s engagement with OPEC said to yield $6-billion budget gain

Russia’s decision earlier this year to engage in talks with OPEC about limiting oil output has added more than 400 billion rubles ($6 billion) to the nation’s budget, according to two officials familiar with government calculations. More »

Texas Alliance passes resolution denouncing federal regulation without representation

The Texas Alliance of Energy Producers’ board of directors met in Fort Worth yesterday and unanimously approved the following resolution, openly opposing the onslaught of overreaching federal regulations issued during the outgoing administration’s term, and reaffirming the association’s dedication to advocating for and protecting the independent oil and gas industry in Texas. More »

Weatherford appoints chairman emeritus

The board of directors of Weatherford International plc, in recognition and appreciation of outstanding vision and years of service, has named Dr. Bernard J. Duroc-Danner as chairman emeritus. More »

U.S. to send a record volume of shale gas overseas

The U.S. is set to export a record number of cargoes of shale gas this month. More »

Obama said to block selling new drilling rights in U.S. Arctic

The Obama administration is set to block the sale of new oil and gas drilling rights in U.S. Arctic waters under a five-year blueprint, handing a victory to environmentalists who said the activity threatened whales, walruses and other wildlife in the region. More »

EIA: Amount of natural gas in storage reaches new record

Working natural gas in storage reached a record high of 4,017 Bcf as of Nov. 4, according to EIA’s latest Weekly Natural Gas Storage Report. More »

Exxon in negotiations with Chad about $74-billion penalty

Exxon Mobil Corp. is negotiating with Chad’s government about a record $74-billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties. More »

Oil slips as clock ticks on OPEC deal amid rising U.S. supply

Oil slipped from a two-week high as OPEC made another push to finalize an accord on cutting output, while rising U.S. crude stockpiles added to the global glut. More »

Worst remains for Norwegian offshore fleet as more rigs idled

The offshore fleet tending to Norway’s oil industry, already sailing through the worst downturn in a generation, is in for even more pain, according to the head of the Norwegian Shipowners’ Association. More »

Iran, Iraq oil ministers said to bypass energy talks with Saudis

Iraq’s oil minister will bypass energy talks this week in Qatar, where rival producer Saudi Arabia plans to hold talks with Russia on possible collective action to limit production. His Iranian counterpart is also said to be giving the meeting a miss. More »

Lloyd's Register launches new decommissioning service

New decommissioning service launched today by Lloyd’s Register helps operators, equity holders, investors and regulators navigate the regulatory and technical complexities of late-life operations and decommissioning to drive significant cost savings, improve project efficiency, reduce risk, and safely decommission assets and facilities. More »

DNO signs MoU to develop Iran's Changuleh oil field

OSLO -- Norwegian oil and gas operator DNO ASA announced the signing of a memorandum of understanding (MoU) with the National Iranian Oil Company (NIOC) to conduct a study concerning the development of the Changuleh oil field in western Iran. The Changuleh field, discovered in 1999 but never developed, is estimated to hold more than 2 Bbbl of oil-in-place. More »

Libya to nearly double oil output as OPEC’s task gets harder

OPEC’s Libya plans to almost double crude production next year even as the producer group tries to implement a deal to trim production and ease a global supply glut. More »

OPEC, Russia expand diplomatic push to secure oil-cuts deal

OPEC embarked on a final diplomatic effort to secure an oil-cuts deal, with its top official heading on a tour of member states as Russia scheduled informal talks in Doha this week with nations including Saudi Arabia. More »

Worst remains for Norway offshore fleet as more rigs idled

The offshore fleet tending to Norway’s oil industry, already sailing through the worst downturn in a generation, is in for even more pain, according to the head of the Norwegian Shipowners’ Association. More »

Drillinginfo acquires Ponderosa Energy's product lines, services

Drillinginfo has acquired the assets, product lines and related services associated with Ponderosa Energy, a division of Ponderosa Advisors LLC. More »

Hexion offers lower cost resin coated proppants

Hexion Inc. announced the release of its kRT resin coated proppants that provide a cost-effective option for the oil and gas industry, while delivering superior performance compared to uncoated frac sand. More »

Permian oil riches rise as U.S. sees reserves worth $900 billion

In a troubled oil world, the Permian basin is the gift that keeps on giving. More »

Independents challenge BLM’s venting, flaring rule

Western Energy Alliance and the Independent Petroleum Association of America (IPAA) filed a lawsuit today challenging Bureau of Land Management’s (BLM) final rule regulating venting and flaring from oil and natural gas operations on federal and tribal lands. More »

BP and GE launch offshore digital technology designed to improve reliability

BP and GE today announced the start-up of Plant Operations Advisor (POA), a new digital solution designed to improve the efficiency, reliability and safety of BP’s oil and gas production operations. More »

Oil investors shrug off U.S. election while focused on OPEC

Money managers raised bets on falling oil prices by the most in more than four years in the week leading up to Trump’s surprise win, amid waning belief in OPEC’s ability to meaningfully cut production. More »

Parker Bestobell Marine secures its largest order, to date

Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, has secured a nine-vessel order, worth $5 million, making it the company's single largest order, to date. More »

Former Oxy CEO wins API 2016 Gold Medal

Stephen I. Chazen, who retired earlier this year as CEO of Occidental Petroleum after a more than three decade career in the oil and gas industry, is the recipient of the American Petroleum Institute 2016 Gold Medal for Distinguished Achievement, API's highest honor. More »

North Sea decommissioning to grow steadily over next ten years

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Technip introduces new diving support vessel

Technip’s latest newbuild, the diving support vessel (DSV) Deep Explorer, was officially named on Saturday. More »

Woodside, BHP Billiton complete Scarborough asset deal

Woodside has completed its acquisition of half of BHP Billiton’s Scarborough area assets in the Carnarvon basin, located offshore Western Australia. More »

U.S. delays Dakota pipeline as Trump promises quicker reviews

The Obama administration has yet again delayed a decision on the controversial Dakota Access crude pipeline, even as President-elect Donald Trump vows to speed up reviews of such projects. More »

Crude seen reaching up to $70 by year-end 2017

Hedge fund manager Pierre Andurand says OPEC is still likely to agree on an output freeze this month and prompt a sharp rally in oil prices, despite disputes among its members. More »

BP CEO sees oil market ‘pretty pessimistic’ about OPEC cuts

The oil market is “pretty pessimistic” about OPEC reaching a deal to cut production, BP CEO Bob Dudley said. More »

Vallourec closes on acquisition of Tianda Oil Pipe

Vallourec has announced that it has closed on the acquisition of a majority stake (50.61%) in the Chinese company, Anhui Tianda Oil Pipe Company Limited (TOP) and thereby increased its total stake to 70.07%. More »

OPEC said to start final diplomatic push to heal oil-cut divide

OPEC nations embarked on a final diplomatic effort to secure a deal on oil cuts, with Qatar, Algeria and Venezuela leading the push to overcome the divide between the group’s biggest producers, according to a delegate familiar with the talks. More »

Paradigm and Task Fronterra collaborate on advanced borehole data analysis

Paradigm has announced that Task Fronterra, a leading global geoscience consultancy, has standardized its advanced borehole data analysis service offering on the Paradigm Geolog petrophysical analysis and formation evaluation solution. More »

A Trump presidency will be good for U.S. upstream activity

HOUSTON -- Now that the dust has settled after Donald Trump’s unexpected, earth-shattering win on Nov. 8 and 9 in the U.S. presidential election, we’re beginning to see more clearly the shape that his administration’s oil and gas policy may take. More »

Lloyd’s Register acquires RTAMO Ltd to provide data-driven solutions for reducing maintenance costs

Lloyd’s Register (LR) has acquired RTAMO Ltd, a software enabled consultancy based in Aberdeen which provides data-driven solutions designed to reduce maintenance costs for asset owners. Murray Douglas, Lloyd’s Register’s strategic project director said, “At this critical economic time of low oil prices, asset owners are seeking better ways to maximize value. RTAMO (real time adaptive maintenance optimization) enables this to be done safely and sustainably by enabling asset owners and operators to tailor their maintenance strategy and preventive maintenance plans to suit their specific commercial needs.” More »

Oil majors seeking Norway exit warned shutdown costs may remain

As oil majors are considering exiting Norway, the government is warning them that they could still be on the hook for billion of dollars in costs to close down dried up oilfields if they aren’t careful to whom they sell. More »

WellDog to form JV to develop CBM fields with Shaanxi energy institute

WellDog has signed a Letter of Intent to form a joint venture with the Shaanxi Provincial Institute of Energy Resources and Chemical Engineering. More »

D3 Consulting launches upgraded waste management tool to decommissioning market

D3 Consulting, a specialist decommissioning and demolition consultancy, has launched an upgraded version of its unique Decommissioning Assurance through Waste kNowledge (DAWN) system. More »

ALTUS Intervention UK secure five-year well services contract with Maersk Oil

ALTUS Intervention, a subsidiary of Qinterra AS, has won a fixed term, five-year contract to provide well intervention services for Maersk Oil. The company was awarded the contract for the provision of slickline services, coiled tubing services, well surveillance, ballistic and wireline tractor services to support Maersk Oil’s Central North Sea operations and planned abandonment campaigns. It is this spread and scale of disciplines that enable ALTUS to deliver an integrated multi-service offering that optimizes operational efficiency in the most cost-efficient way. More »

Rubicon Oilfield International acquires Top-Co Holdings

Rubicon Oilfield International has acquired Top-Co Holdings, a supplier of oilfield casing, cementing and completion products. Terms of the transaction were not disclosed. More »

Rare oil-patch hot spot emerges in America’s earthquake capital

Brian Kalt’s got a pretty funky plan to stop the surge in earthquakes in Oklahoma and save the state’s reeling oil industry. More »

Tullow, Total Uganda oil exports may delay on infrastructure

Output from Ugandan crude deposits being developed by companies including Tullow Oil and Total is unlikely to be exported as soon as the nation expects because of the scale of the infrastructure projects required to transport the fuel out of the country. More »

Analyst who foresaw oil crash sees OPEC uniting in self-interest

OPEC members need to stop bickering over output curbs or risk the group becoming irrelevant to global oil markets, according to an analyst who predicted the biggest price crash in a generation. More »

Harold Hamm named Chief Roughneck by U. S. Steel Tubular Products

Harold G. Hamm, chairman and CEO of Continental Resources, was named the recipient of the 2016 Chief Roughneck Award by U. S. Steel Tubular Products. More »

Why President Trump could be OPEC's new best friend: Column

Last week, I wrote that OPEC needs friends and a miracle to re-balance the oil market. Could President Trump be that unwitting buddy, providing the miracle by tearing up the nuclear agreement with Iran and removing almost a million barrels a day of supply at a stroke? More »

Iran pumps more oil as Saudi’s call for OPEC output cuts

Iran boosted oil output at three western fields faster than it expected as rival OPEC producer Saudi Arabia called for a collective output cut later this month to help rebalance the market. More »

Oil hits seven-week low on output growth

Oil dropped to the lowest in almost two months in New York on rising OPEC output after a volatile week driven by uncertainty about the group’s intentions and the surprise election of Donald Trump. More »

Oil tankers used to store millions of barrels as land sites fill

Oil companies booked tankers to store as many as 9 MMbbl of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. More »

American voters have spoken, energy won the 2016 election: API

API President and CEO Jack Gerard said American voters of all political stripes agreed that the country needs strong energy leadership to create jobs, lower fuel costs for consumers, enhance energy security and lower emissions. In a press call with reporters, Gerard revealed the results of an API actual voter poll conducted on election night. More »

Canadian drilling seen edging higher in 2017

The Petroleum Services Association of Canada (PSAC) has released its 2017 Canadian Drilling Activity Forecast. PSAC expects a total of 4,175 wells (rig releases) to be drilled in Canada in 2017. More »

Conoco's message is bearish on oil—and right: Column

ConocoPhillips probably doesn't see it this way, but a good starting point for its analyst jamboree on Thursday came earlier this month, courtesy of Royal Dutch Shell Plc's earnings call. More »

ConocoPhillips to sell up to $8 billion of North American gas assets

ConocoPhillips is to initiate a $5-billion to $8-billion divestiture program, which will focus primarily on North American natural gas, as the company seeks to bolster its operations. More »

Dril-Quip completes TIW acquisition

Dril-Quip has completed its acquisition of TIW Corporation. TIW, based in Houston, is a global provider of liner hanger systems and related equipment and services. More »

Energy Transfer on Trump: ‘It’s only going to get better’

Energy Transfer Partners said Thursday that its Dakota Access crude pipeline, plagued by protests for months, is still set to be in service by spring. More »

Rosneft third-quarter profit falls even as oil output grows

Rosneft PJSC said third-quarter profit dropped 77% as a decline in export duties lagged behind slumping prices. More »

Iran tells OPEC it boosted output by most since sanctions ended

Iran, which wants an exemption from OPEC’s accord to cut production, told the group it raised output by the most since international sanctions were lifted, while Iraq—also insisting it should be spared—gave no reading at all. More »

America’s natural gas supply rises to a record amid muted demand

U.S. natural gas stockpiles climbed to a record last week as warm weather curtailed demand for the heating fuel, according to a U.S. government report. More »

Aker BP announces the start-up of production from Viper-Kobra

Aker BP has announced the start-up of production from Viper-Kobra, which is tied back to the Alvheim FPSO. The project is developed on time and within budget. More »

Schlumberger, Ophir, Golar to develop $2-billion Fortuna FLNG project

Ophir Energy and OneLNGSM, a joint venture between subsidiaries of Golar LNG and Schlumberger, have signed a binding agreement to establish a joint operating company (JOC) to develop the Fortuna project, in Block R, offshore Equatorial Guinea. More »

Altus Intervention wins frame agreement contract with Aker BP

Aker BP has awarded ALTUS Intervention a frame agreement contract for well intervention services consisting of casedhole wireline, slickline and tractor services on three production wells and one exploration well on Alvheim field. More »

Schulmberger, Ophir, Golar to develop $2-billion Fortuna FLNG project

Ophir Energy and OneLNGSM, a joint venture between subsidiaries of Golar LNG and Schlumberger, have signed a binding agreement to establish a joint operating company (JOC) to develop the Fortuna project, in Block R, offshore Equatorial Guinea. More »

Saipem lands two offshore contracts with Saudi Aramco

Saipem has been awarded “new contracts and change orders” worth about $1 billion, according to a company statement. More »

Technip awarded Gulf of Mexico umbilical contract

Technip Umbilicals, a wholly owned subsidiary of Technip, has been awarded a contract by a major operator to supply a subsea control umbilical in the Gulf of Mexico. More »

Trump win revives Keystone hopes, boosts Dakota Access outlook

Donald Trump’s U.S. presidential election victory came as a positive surprise for pipeline proponents. More »

Oil output surge piles pressure on OPEC as IEA warns on price

The cost of failing to reach a deal this month is rising for OPEC as rival producers are set to revive production in 2017, the International Energy Agency predicted. More »

IEA raises forecast for non-OPEC oil production growth

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Weatherford chairman and CEO appointed upon departure

Weatherford International has announced the departure of Bernard J. Duroc-Danner, chairman of the board, president and CEO, effective immediately. More »

As OPEC reverses course, data show old policy is paying off

Just as OPEC ditches the policy of pumping without limits, its forecasts show the strategy is paying off. More »

U.S. crude supplies rise a second week: EIA

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Baker Hughes introduces the next generation of fluids separation technologies

Baker Hughes has announced the commercial release of its TRETOLITE SNAP fluids separation technologies, designed to help oil and gas operators maintain dry oil and good water quality, while also stabilizing operations and reducing costs—without limiting production—to improve overall profitability. More »

Oil eases losses as market turmoil abates after Trump win

Oil losses eased as global markets weighed the implications of Republican Donald Trump’s election as the 45th U.S. president. More »

Offshore workforce size and shape data now available

Data from a groundbreaking high-tech study that has captured the changing shape of the North Sea offshore workforce can now be found on the Oil and Gas UK website. More »

OMV sells UK subsidiary in deal valued up to $1 billion

OMV, the international integrated oil and gas company based in Vienna, has agreed to sell 100% of the shares in its wholly owned subsidiary OMV (U.K.) Limited to Siccar Point Energy Limited. More »

Bibby Offshore secures second subsea inspection contract with Shell

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Trump’s victory makes OPEC deal more urgent, harder

OPEC was already struggling to finalize a deal on production cuts this month. And then Donald Trump was elected President of the U.S. More »

Libya’s largest oil port may be ready next week for shipments

Libya’s largest oil export terminal may re-open as early as next week in a move that would provide relief for the cash-strapped country holding Africa’s largest crude reserves. More »

Big Oil looks past profit crunch as cash flow shows recovery

Ask any oil-company accountant, “what’s the difference between income and cash flow?” and they’re likely to say income makes the headlines, cash pays the bills. More »

Permian basin tie-up for Earthstone, Bold

Earthstone Energy and Bold Energy III LLC, a portfolio company of EnCap Investments L.P., have entered into a definitive contribution agreement under which Earthstone will acquire all of the outstanding membership interests of Bold, inclusive of producing assets and undeveloped acreage. More »

Scottish Government reports show economic case for unconventional gas

Studies into unconventional oil and gas by the Scottish Government clearly demonstrate the economic case for promoting exploration in Scotland while showing a pathway for other risks to be mitigated. The industry will participate fully in the consultation announced by the Scottish Government and believes that the case for lifting the moratorium on unconventional oil and gas development has been made. More »

Upstream capex spend cut by $100 billion over the next five years in Sub-Saharan Africa: WoodMac

Capital investment in the oil and gas industry in Sub-Saharan Africa has been cut by $100 billion over the next five years, according to Wood Mackenzie's latest report on upstream activity in the region. Major oil companies are heavily invested in Sub-Saharan Africa and account for the bulk of cuts. More »

DNV GL brings QRA studies into the digital age with new service

To help the oil and gas industry get more value from quantitative risk assessment (QRA) reporting, DNV GL has launched a new online quantitative risk assessment service called MyQRA. More »

One U.S. state where natural gas production is still going strong

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Instability awaits if oil output cuts don’t go ahead, OPEC head warns

OPEC’s chief warned of prolonged instability in the oil market if the producer group and other major crude suppliers fail to act jointly to limit output and curb a global glut. More »

BP paves way for further development of giant Omani gas field

BP and Oman Oil Company Exploration and Production have signed an agreement with the government of Oman to amend the Block 61 exploration and production sharing agreement (EPSA). The new agreement, which extends the license area, paves the way for further development of the giant Khazzan tight gas field. More »

Wellsite Fishing and Rental Services announces Cornerstone Completion Services as new division

Wellsite Fishing and Rental Services, a provider of drilling and completion rental equipment, has created a new division: Cornerstone Completion Services (CCS). More »

Total signs South Pars development deal with NIOC

Total has signed a Heads of Agreement (HoA) with the National Iranian Oil Company (NIOC) for the development of phase 11 of South Pars, the world's largest gas field. More »

NorSea Group, Scotoil combine as NSDecom

NorSea Group (UK) Ltd and Scotoil Services Ltd, two of the leading service companies in the onshore decommissioning sector, have joined forces as NSDecom. More »

Oklahoma quake spurs regulator to limit disposal wells

Oklahoma’s oil and gas regulator plans to shut some disposal wells and reduce the volume of others as its initial response to Sunday’s earthquake near the oil hub of Cushing. More »

OPEC raises oil-demand forecast on outlook for cheaper crude

OPEC raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spur consumption even as economic growth slows. More »

Schlumberger introduces advanced flowback services

Today, at the Abu Dhabi International Petroleum Exhibition and Conference, Schlumberger introduced AvantGuard advanced flowback services. More »

Electro-hydraulic setting tool to perform its first operation in the Middle East

Probe Holdings has announced that its electro-hydraulic setting tool, the iSet, is about to perform its first operation in the Middle East, where it is expected to continue to drive new safety and efficiency standards in well intervention and abandonment operations that require the use of setting tools. More »

Oklahoma hub pipelines resume operations after earthquake

Pipeline owners near a crucial Oklahoma oil hub reported little damage and resumed normal service after a magnitude 5 earthquake struck late Sunday. More »

Resource Energy completes purchase of Williston basin assets

Resource Energy Can-Am LLC has announced that it has closed on its previously announced agreement to acquire assets in the North Dakota Bakken formation from Samson Resources Company. More »

Oil rebounds before U.S. election, earthquake shakes Cushing

Oil rebounded ahead of the U.S. election amid a broader market rally driven by an FBI announcement that affirmed Hillary Clinton’s handling of her emails wasn’t a crime. More »

Saudi Aramco halts Egypt’s oil supplies until further notice

Saudi Arabian Oil Co. halted shipments of oil products to Egypt indefinitely, Egyptian Oil Minister Tarek El-Molla said, forcing the Arab world’s most populous nation to buy fuels on world markets at higher cost. More »

Eni signs agreements to assess potential EandP activities in Bahrain

Bahrain authorities have invited Eni to study and assess the potential of some EandP assets in the country. More »

ITF launches JIP to improve recovery through a better understanding of frac process

The Industry Technology Facilitator (ITF), alongside Marathon Oil, Nexen and Repsol, has launched a joint industry project (JIP) to improve the planning, design and implementation of hydraulic fracturing to maximize the efficiency and profitability of unconventional resources globally. More »

BP, Eni to limit 2017 spending to cope with oil glut

From Eni to BP, the biggest international oil companies are reining in capital spending for 2017 and possibly longer as they try to squeeze profits from a crude market battered by a global glut. More »

Churchill Drilling Tools opens Abu Dhabi workshop

Churchill Drilling Tools, an oilfield service company specializing in downhole tools, has opened a bespoke tooling and service workshop in Abu Dhabi. More »

Chevron reports first gas at UK’s Alder field

Chevron North Sea has started production at Alder, a high pressure, high temperature (HPHT) gas condensate field in the Central North Sea. More »

Weir Oil and Gas secures $12-million wellhead contract with Kuwait Oil Company

Weir Oil and Gas has secured an agreement with Kuwait Oil Company for the purchase of 295 Seaboard wellheads. The deal, which is valued at about $12 million, was arranged through Weir’s representative in Kuwait, Khuff Trading and Contracting. More »

Magnitude 5 quake strikes close to largest U.S. oil storage hub

A magnitude 5 earthquake struck Oklahoma on Sunday near the largest U.S. oil storage hub, prompting some pipeline companies to shut down operations at the site as a precaution. More »

Russia on board with deal to limit oil output, OPEC chief says

Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General Mohammed Barkindo. More »

Eni urges non-OPEC nations to cut output, sees profit at $50 oil

Eni’s CEO called for oil producers outside OPEC to join the group in cutting production to stabilize the market and said his company could still make money with crude at $50/bbl. More »

Oil caps biggest weekly decline since January

Oil capped the biggest weekly loss in almost 10 months as hopes faded that OPEC will be able to implement a promised deal to cut production and ease global oversupplies. More »

OPEC’s top official says Saudis didn’t make oil output threat

Saudi Arabia didn’t threaten to increase its oil production if other members wouldn’t agree to make cuts at the OPEC meeting last week in Vienna, said the group’s top official. More »

Oil heads for weekly drop after erasing OPEC Algiers deal gains

Oil headed for its biggest weekly loss in almost 10 months after giving up all its gains since OPEC agreed to trim output as skepticism grows over whether the deal will be implemented. More »

It’s getting tougher for shale drillers to impress investors

Wall Street’s oil analysts are getting harder to impress. More »

Big Oil to invest $1 billion in carbon-capture technology

Some of the world’s biggest oil companies will invest $1 billion over the next 10 years to develop technologies to capture and store emissions of greenhouse gases and improve energy efficiency. More »

Lamprell completes construction of new Ensco jackup

Lamprell has completed the construction and delivery of a new jackup for Ensco. More »

Technip, FMC receive contract for Statoil’s Trestakk development

The FMC Technologies and Technip alliance has received an integrated engineering, procurement, construction and installation (EPCI) contract for Statoil’s Trestakk field. More »

Kurds reveal oil data as Iraq output row threatens OPEC deal

Iraq’s Kurds say their oil production in September was 290,000 bpd lower than the federal government’s figures for the semi-autonomous region, as OPEC’s second-biggest member tries to resolve accounting differences with the producer group over its output. More »

Prepare for North Sea oil flood as OPEC plans output curbs

Oil producers in the North Sea, home to one of the world’s key crude-price benchmarks, are poised to ship the most crude in more than four years. The surge takes place just as OPEC tries to contain a global surplus with coordinated output cuts. More »

OPEC output deal ‘more likely than not,’ Citigroup says

OPEC and Russia will probably be able to reach an accord to reduce crude production and boost prices, according to Ed Morse, head of commodity research at Citigroup. More »

More spending cuts loom as U.A.E. warns about oil supplies

International oil companies will probably cut investment spending about $370 billion this year and next, according to Wood MacKenzie, just as the United Arab Emirates warned that the “massive” number of projects being delayed because of the drop in crude prices could create a future shortage. More »

Marathon Oil jumps after beating estimates

Marathon Oil rose the most in nine months as higher-than-forecast crude production helped earnings exceed analysts’ estimates. More »

Schlumberger launches diversion stimulation service

Schlumberger has announced the launch of the OpenPath Sequence diversion stimulation service. More »

Maersk Supply Service expands services with new business unit

Maersk Supply Service has announced a new Integrated Solutions business that will support the company’s ambition to become a leading integrator of marine services and solutions for the energy sector. More »

Weatherford, Chevron celebrate first runs of ultra-high temperature LWD triple-combo technology

Weatherford and Chevron Thailand Exploration and Production, a subsidiary of Chevron Corporation, has announced the successful inaugural runs of the HeatWave Extreme (HEX) triple-combo logging-while-drilling (LWD) tool string. More »

Energy Ventures earmarks $200 million for investment in North Sea businesses

Independent private equity firm Energy Ventures has earmarked $200 million to help boost North Sea businesses. More »

Oil steadies after plunging on record U.S. inventory pile-up

Oil steadied in New York after a record surge in U.S. crude inventories sent prices plunging on Wednesday, capping the longest losing streak in two months. More »

Mass of delayed projects risks future supply slump, U.A.E. says

The global oil industry has postponed a “massive” number of projects because of the drop in crude prices, raising the risk of a slump in output and a potential shortfall in supply, the United Arab Emirates Energy Minister Suhail Al Mazrouei said. More »

World’s priciest gas is bound for one U.S. region this winter

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Shell kicks off drilling program offshore Tanzania

Shell and its joint venture (JV) partners, Pavilion Energy and Ophir Energy, have started their drilling program offshore Tanzania. More »

IEA’s Birol ‘doesn’t buy’ that electric cars will displace oil

International Energy Agency Executive Director Fatih Birol said he doesn’t buy the argument that electric cars will cause oil demand to peak. More »

Demand for offshore supply vessels to drop 10% through 2017, IHS Markit says

Demand for the global oil and gas offshore supply vessel (OSV) market has declined an average of 10% annually since 2014 and will continue to fall at approximately this same rate through 2017, according to new analysis from IHS Markit. More »

Oil tumbles after U.S. crude stockpiles climb most on record

Oil tumbled as a record increase in U.S. crude stockpiles heightens the pressure on OPEC to reduce production. More »

Oil demand could peak in five years, Shell says

Royal Dutch Shell, the world’s second-biggest oil company by market value, thinks demand for oil could peak in as little as five years. More »

Covey Park acquires additional Haynesville, Bossier assets

Affiliates of Covey Park Energy, a Dallas-based EandP company, have acquired additional assets in the Haynesville/Bossier shale areas of East Texas and North Louisiana. More »

InterMoor upgrades Port Açu facility in Brazil

InterMoor, an Acteon company, has added inspection and testing capabilities to its marine base at the Açu Superport in São João da Barra, northern Rio de Janeiro. More »

Team Oil Tools, Antelope Oil Tool and Isolation Technologies merge to form Innovex Downhole Solutions

Team Oil Tools, Antelope Oil Tool and Manufacturing and Isolation Technologies have merged to form Innovex Downhole Solutions, a provider of critical downhole products and technologies for the oil and gas industry. More »

McDermott opens 300-person office in Saudi Arabia

McDermott International has opened a new office in Al Khobar, Saudi Arabia, with the ability to add 300 staff to its existing workforce in the Kingdom. More »

Emerson teams up with IPRES for economic risk assessments

Emerson Automation Solutions has announced a business collaboration with IPRES (Integrated Petroleum Resource and Economic Service), an international company based in Norway that provides advanced software tools and services to the upstream oil and gas industry. More »

N-Sea increases capabilities with addition of new vessel

N-Sea, a subsea IMR provider, has increased its fleet through the long-term charter of Siem Offshore’s subsea construction vessel, the Siem Barracuda. More »

Oxy pours $2 billion into Permian basin acquisitions

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Oil traders hunt for profit at sea again as glut sinks price

As crude prices continue to get dragged down by a global glut that shows no signs of abating, oil traders may find some profit by going to sea. More »

OPEC quest gets tougher as Libya, Nigeria ramp up production

Nigeria and Libya, two crude suppliers in OPEC whose output was crushed by domestic conflicts this year, are ramping up again and spelling out what could become the producer club’s biggest challenge as it grapples with a global supply glut. More »

M² Subsea secures funding for 32 best-in-class ROVs

M² Subsea Limited, a recently formed subsea services business, has secured a substantial injection of private equity investment to acquire a fleet of 32 best-in-class ROVs. More »

Oil falls to one-month low, shrugging off fuel pipeline blast

Oil fell to a one-month low as concerns about rising U.S. crude stockpiles outweighed the impact of a pipeline explosion that sent gasoline surging. More »

Schlumberger opens new reservoir laboratory in Abu Dhabi

Schlumberger is opening a new reservoir and rock analysis laboratory in Abu Dhabi, UAE. This new laboratory supports customers in the Middle East and Asia and complements the company’s existing regional network of laboratories in Dubai, Qatar, Kuwait and Saudi Arabia. More »

KONGSBERG, Automated Ships to build unmanned, fully-automated vessel for offshore ops

The UK’s Automated Ships Ltd. and Norway’s Kongsberg Maritime have signed a Memorandum of Understanding to build the world’s first unmanned and fully-automated vessel for offshore operations. More »

Rosneft, BP complete deal to form Siberia-focused joint venture

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GE seeks boost from Baker Hughes as activist investor signs off on deal

With the enthusiasm around its industrial transformation stalled, General Electric is hoping for a boost from an oil megadeal that has already won the backing of the activist investor Nelson Peltz. More »

Statoil suspends Songa Offshore semisubmersible

Statoil has decided to temporarily suspend the Songa Enabler semisubmersible, which was originally destined for the Johan Castberg license. More »

Petrofac extends relationship with Mubadala Petroleum in Thailand

Petrofac has extended its relationship with Mubadala Petroleum with the award of new and modified contracts relating to the FPF-003 FPSO vessel in the Jasmine/Ban Yen field in the Gulf of Thailand. More »

Statoil slashes development costs for Trestakk discovery

Statoil has submitted a Plan for Development and Operation for the Trestakk discovery on the Halten Bank to Norway’s Minister for Petroleum and Energy Tord Lien. Capital expenditures are estimated at approximately 5.5 billion NOK ($670 million). More »

BP profit slides on weaker refining, oil-production loss

BP reported a 49% decline in third-quarter earnings after crude prices fell, refining margins shrank and its EandP division posted a loss. More »

Shell smashes estimates as BG acquisition drives up output

Royal Dutch Shell reported third-quarter profit that beat analyst estimates after its acquisition of BG Group boosted oil production, helping to counter a slump in prices. The shares rose. More »

Goldman sees oil in low $40s if OPEC deal fails as odds fade

An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc. More »