Transocean Ltd. awarded $830 million drilling contract for ultra-deepwater drillship

Transocean Ltd. has announced that it has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA, Inc. for one of its two dynamically positioned ultra-deepwater drillships currently under construction at the Jurong shipyard in Singapore. More »

Bonds beckon OPEC's top Arab producers in 2019 after oil falters

Gulf Arab energy companies are expected to borrow more in 2019 to finance expansion plans after rising oil prices triggered a sharp retreat from debt markets in 2018. More »

Novatek initiates crude oil production in the Russian Yaro-Yakhinskoye field

PAO Novatek has announced the launch of commercial production of crude oil at the Yaro-Yakhinskoye field developed by Arcticgas, a joint venture between Novatek and Gazprom Neft. More »

Total sells mintority interest in Oman block to Tethys

CET Tethys Oil has entered into an agreement to acquire a 2% participating interest in Block 53 onshore Oman from Total EandP Oman, a wholly-owned subsidiary of Total S.A. More »

Cepsa begins marketing crude from two of Abu Dhabi’s largest oilfields

Cepsa began to market crude this week from its 20% concession in the SARB and Umm Lulu oilfields, which the Abu Dhabi National Oil Company (ADNOC), on behalf of the Abu Dhabi Government, awarded it in February 2018. More »

ExxonMobil, CNPC, Empresa, Kogas and Galp secure offtake commitments for the Rovuma LNG project

Area 4 co-venture participants have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partners, a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project. More »

Kosmos Energy has redomesticated in Delaware, U.S.

Kosmos Energy Ltd has announced that it had elected to redomesticate in the State of Delaware. More »

Oil set for first annual decline since 2015 after turbulent year

Oil headed for its first annual decline since 2015, slumping more than 20% in a turbulent year that saw fears of supply scarcity turn to expectations of a surplus. More »

Petrobras has produced 2.62 MMbbl of oil in Nov. 2018

Petrobras' total production of oil and gas in November, including natural gas liquids (NGL), was 2.62 MMboed, of which 2.52 MMboed were produced in Brazil and 100 Mboed outside. More »

Gazprom Neft, Repsol have signed an exploration JV in Khanty-Mansi Autonomous Okrug

Gazprom Neft and Repsol have established a joint venture to undertake geological exploration in the Karabashsky zone of the Khanty-Mansi Autonomous Okrug-Yugra. Khanty-Mansi Autonomous Okrug. More »

Gazprom Neft and Repsol have developed exploration cluster in the south-west of Khanty-Mansi Autonomous Okrug

Gazprom Neft and Repsol have established a joint venture to undertake geological exploration in the Karabashsky zone of the Khanty-Mansi Autonomous Okrug-Yugra. Khanty-Mansi Autonomous Okrug. More »

Canada's rig count plunges by more than half in two weeks

Where have all the rigs gone? More »

Shale explorers boost U.S. work again despite oil price collapse

Oil producers again boosted U.S. drilling this week despite the biggest quarterly drop in oil prices since 2014. More »

Oil bulls cap wackiest year-end in decade with bet on 2019 rally

Hedge funds are keeping their cool in the most tumultuous end of the year for oil since the 2008 financial crisis, betting on better days ahead. More »

Encana completes sale of San Juan asset

Encana Corporation has announced today that its wholly-owned subsidiary, Encana Oil and Gas (USA) Inc., has completed the previously announced sale of its San Juan asset in New Mexico to Denver-based DJR Energy. More »

Oil edges up following report of tiny U.S. crude stockpile draw

Crude hovered near $45/bbl following a U.S. government report showing a fourth straight decline in oil stockpiles. More »

Equinor completes sales of two NCS assets

Equinor has completed the sales of two non-core discoveries on the Norwegian Continental Shelf (NCS) that were both announced in October 2018. More »

Shell completes $578-million sale of its New Zealand entities

Royal Dutch Shell plc has completed the sale of its shares in Shell entities in New Zealand, to OMV for $578 million. More »

Amid export boom, U.S. still imports natural gas from Russia

The U.S. may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting imports of the fuel, including a shipment of Russian gas likely headed for Massachusetts. More »

Texas job growth could take hit if oil rout drags on

Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Dallas. More »

Oil watchers see $70/bbl in 2019 as recession fears fade

The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. More »

Oil sell-off is deepest to follow an OPEC output cut in a decade

Crude’s recent sell-off is a grim reminder that OPEC’s management of the oil market isn’t foolproof. The group’s Dec. 7 decision to curb output among members and allied producers was supposed to prop up sinking prices. More »

Halliburton secures drilling contract from Eni Iraq

Halliburton Company has announced it has signed two contracts with Eni Iraq BV (Eni) to provide integrated drilling services at Eni’s Zubair oil field in Southern Iraq. More »

Faroe Petroleum reports Cassidy exploration well results

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces the results of the Cassidy exploration well 8/10-7S within the PL405 Oda license in the Norwegian North Sea. More »

Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. More »

Oil retreats again after recovering from pre-holiday sell-off

Oil slumped again in New York, just after recovering from a pre-Christmas plunge, amid ongoing concern about the global economy. More »

U.S. shale's blows leave Middle East oil sellers staggering

The U.S. oil industry is delivering a one-two punch to Middle East producers already reeling from a collapse in prices. More »

China heads into trade talks bracing for more U.S. demands

China enters trade talks said to begin early next month in Beijing having made concerted efforts to end the standoff with the U.S., and also unsure it’s done enough. More »

Oil gains most in two years on stock rally, Russian reassurance

Crude gained as U.S. equities rebounded and Russia signaled that OPEC and its partners would be willing to meet as needed to help manage the oil market. More »

Chesapeake surges after board member buys 2.1 million shares

Chesapeake Energy Corp. shares rose as much as 17% in their biggest intraday rally since February after a board member bought more than $4 million in additional stock. More »

Husky Energy has reduced 2019 budget, production

Husky Energy plans to spend approximately $3.4 billion on its capital expenditure program in 2019 as it continues to invest in a deep portfolio of higher-margin, longer-life projects. More »

Husky Energy has reduced 2019 budget and production

Husky Energy plans to spend approximately $3.4 billion on its capital expenditure program in 2019 as it continues to invest in a deep portfolio of higher-margin, longer-life projects. More »

Gazprom BoD have approved investment program, budget for 2019

The Gazprom board of directors took note of the information about the company’s preliminary operating results for 2018 and the projected investment program and budget (financial plan) for 2020–2021. More »

Russia's oil bosses and officials brush off oil price drop

Russian officials and executives from its biggest oil companies put on a brave face Wednesday, even as Brent trades near 16-month lows. More »

Brent crude bounces back after brief dip below $50/bbl

Brent crude recovered after dipping below $50/bbl for the first time since July 2017 on the strength of a rebound by U.S. stocks and a hint that OPEC and its partners could meet again to discuss output curbs. More »

Exxon in `bull's-eye' as worst year since Reagan nears end

Things haven’t been this bad for the world’s biggest oil stock since Ronald Reagan became president. But brace yourself, 2019 may not be much better. More »

Cepsa has begun marketing crude from two of Abu Dhabi’s largest oilfields

Cepsa began to market crude this week from its 20% concession in the SARB and Umm Lulu oilfields, which the Abu Dhabi National Oil Company (ADNOC), on behalf of the Abu Dhabi Government, awarded it in February 2018. More »

Hess market cap plunges $1.5 billion, Exxon vessel blocked by Venezuelan protest

Hess Corp. tumbled the most in almost three years, wiping out $1.5 billion in market valuation, after work at the oil explorer’s most promising international investment was halted by a Venezuelan blockade. More »

Hess market cap plunges $1.5 billion, Exxon vessel blocked by Venezuelan blockade

Hess Corp. tumbled the most in almost three years, wiping out $1.5 billion in market valuation, after work at the oil explorer’s most promising international investment was halted by a Venezuelan blockade. More »

Crude spirals to 18-month low amid global economic concerns

Crude fell to the lowest level in a year and a half as concerns over the global economy and turbulence in Washington overshadowed signals from OPEC that it may deepen output cuts. More »

Saudi Arabia plans spate of water project privatizations in 2019

Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatization program that got off to a slow start. More »

Crude spirals to 17-month low amid global economic concerns

Crude dropped to the lowest since July 2017 as concerns over a weaker global economy and turbulence in Washington overshadowed signals from OPEC that it may deepen output cuts. More »

BOEM to publish GOM lease sales call, prepare supplemental environmental impact statement

BOEM has announced it will publish in the Federal Register a Call for Information and Nominations covering proposed oil and gas lease sales in the Gulf of Mexico Western, Central, and Eastern Planning Areas, except for those areas currently subject to the Gulf of Mexico Energy Security Act of 2006 moratorium. More »

China slips open door for U.S. natural gas as winter hits

China last month imported two tankers of U.S. liquefied natural gas, nudging open a doorway that had been closed shut for a month at a time when America is rapidly expanding its ability to export the heating fuel. More »

Rowan has been awarded contracts for the Ralph Coffman and the Joe Douglas

Rowan Companies plc has announced that the Ralph Coffman, a 240-C Class harsh environment jack-up rig, has been awarded a 180-day contract in Trinidad. More »

Gazprom Neft strengthens its own Arctic fleet with a second icebreaker, the Andrey Vilkitsky

The Andrey Vilkitsky icebreaker, built as part of Gazprom Neft’s “Time of the Arctic” program, has been launched in St. Petersburg. More »

OPEC is in 'whatever it takes' moment to prop up oil prices

OPEC hasn’t even started implementing its new six-month agreement to cut output, and already members responsible for most of the reductions have pledged to extend or even deepen it. More »

API: Access to Alaska’s Coastal Plain for natural gas and oil production could increase U.S. energy security

The American Petroleum Institute released the following statement in response to the Department of the Interior’s announcement that it will issue a draft EIS for the leasing program proposed for the 1002 Area (coastal plain) of the Arctic National Wildlife Refuge (ANWR), on December 28. More »

Saipem has received new onshore and offshore drilling contracts worth approximately $255 million

Saipem has been awarded new onshore and offshore drilling contracts worth approximately $255 million. More »

ONGC experts bring Cyclone Pethai hit drilling rig to India's offshore east coast

More »

After Anadarko and Harvard, Hackett to lead struggling Alta Mesa

James Hackett is taking back the reins at Alta Mesa Resources Inc., the Oklahoma-focused shale producer that’s seen its market value drop from nearly $4 billion to less than $500 million. The shares soared as much as 29% in response. More »

Bloomberg Opinion: What's got oil so spooked? It's the economy, stupid

It wasn’t meant to be like this. More »

Faroe has offered circular rejecting DNO’s offer

The board of Faroe has announced that it has published its response circular in relation to the unsolicited offer for the entire issued and to be issued share capital of Faroe not already owned by DNO ASA at 152p per share in cash. More »

Three60 Energy has invested in North Sea construction and comissioning

Three60 Energy has acquired Aberdeen-based North Sea Construction and Commissioning (NSCC) for an undisclosed sum. More »

Engineered Polymer Technologies has introduced new string-reinforced LLDPE

To meet the growing demand for Linear Low Density Polyethylene (LLDPE) by geomembrane fabricators and installers, EPT has announced a string-reinforced LLDPE fabric with the specific properties required for these types of applications. LLDPE has been in increasing demand due to its superior flexibility and better layflat versus High Density Polyethylene (HDPE). More »

Saipem: LOI for the award of new EandC Offshore work order for the Ramp Up to Plateau phase of the Zohr Field Development Project, worth more than $1.2 billion

Saipem and Petrobel have negotiated an offshore contract addendum worth more than $1.2 billion for engineering, procurement, construction and installation (EPCI) activities in relation to the “Ramp Up to Plateau” phase of the “supergiant” Zohr Field Development Project situated in the Mediterranean Sea off the Egyptian coast. More »

Shale explorers boost drilling even after oil prices collapse

Crude drilling increased in American fields even as explorers face the biggest quarterly drop in oil prices since 2014. More »

Petrobras, Total advance in new strategic partnership deals

Agreement signed involves the sale of Petrobras' stake in the Lapa field and joint venture formation for onshore solar and wind projects in Brazil. More »

AkerBP granted drilling permits for two wildcats in PL 33

The Norwegian Petroleum Directorate (NPD) has granted AkerBP ASA drilling permits for well 2/11-12 A and 2/11-12 S cf. Section 15 of the Resource Management Regulations. More »

Lukoil reports 20 million tonnes of oil produced from North Caspian fields

Lukoil's cumulative production of oil in the Russian part of the Caspian Sea has exceeded 20 million tonnes, Vladimir Filanovsky field accounting for the most significant gain in production. More »

BP announces FID for Phase 1 of the cross-border Greater Tortue Ahmeyim development

BP and partners today announced that the Final Investment Decision (FID) for Phase 1 of the innovative cross-border Greater Tortue Ahmeyim development has been agreed. More »

Oil set for biggest weekly loss in four years on economy fears

Oil headed for its biggest weekly decline since 2014 on concerns that weakening economic growth and surging U.S. supply will lead to a surplus next year, overwhelming OPEC’s efforts to stabilize the market. More »

Deep petroleum industry reforms set Angola on path to growth in 2019

Angola’s economy is set for recovery in 2019, in large part due to a series of regulatory reforms opening the country to new investment. More »

Oil tanker owners junked a record number of ships before boom

Oil tanker owners scrapped a record number of ships this year. Those who did missed out on a sharp rally in rates. More »

Crude prices locked in a downward spiral

For all the talk of OPEC supply cuts and surging shale production, oil’s biggest problem is panic over the economy -- and the correlations show it. More »

Trump agency takes major step toward Arctic refuge oil drilling

The Trump administration will take a major step toward drilling in Alaska’s Arctic National Wildlife Refuge with an analysis of how plans for leasing the territory could affect wildlife in the area. More »

Reabold Resources commences drilling operations in California's West Brentwood area

Reabold has announced that Integrity Management Solutions (IMS) has commenced drilling operations at the VG-4 well within the West Brentwood License area, onshore California. More »

As oil prices plunge, OPEC output is at risk from social unrest

Oil’s plunge has taken prices below the level all but one OPEC country needs to square their 2019 budgets, increasing the risk of supply disruptions from economic dislocation and social unrest. More »

Eni reports Merakes East gas discovery, offshore Indonesia

Eni successfully drilled and tested the Merakes East prospect in East Sepinggan block, offshore Kalimantan, Indonesia. More »

President Energy reports first oil flows from Puesto Prado, Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided the following update relating to the New Puesto Prado and Las Bases Concessions in Rio Negro Province, Argentina. More »

Total poised to start exports from new offshore field in Nigeria

Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. More »

Lundin completes drilling of the first Froan basin exploration well

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has completed the drilling of the Silfari exploration well 6307/1-1S, located in PL830 in the Norwegian Sea. More »

Oceaneering wins new North Sea inspection contract from Petrofac

Oceaneering has secured a three-year provision of inspection enactment services contract with Petrofac’s engineering and production services division in the Western Hemisphere, growing its asset integrity portfolio within the UK Continental Shelf. More »

OPEC's sequel to blockbuster oil deal faces struggle in 2019

OPEC’s bold strategy to revive oil markets proved a surprise success last year, but the sequel they’ve unveiled for 2019 is getting a cooler reception. More »

Clock Spring licenses zero-emission gasket technology

Clock Spring Company, Inc., the world’s leading manufacturer of highly innovative and engineered products for the repair and rehabilitation of pipe-based critical infrastructure, has announced a technology licensing and distribution agreement for the Pipeotech AS DeltaV-Seal technology. More »

Oil gains as Saudis pledge to extend cuts, U.S. supply draw seen

Oil prices climbed as Saudi Arabia predicted that OPEC will extend supply cuts next year and optimistic economic growth prospects boosted U.S. equities. More »

South Sudan sees $2 billion oil investments as first start

Recent pledges of $2 billion in investment for South Sudan’s oil may be just the start, with the war-torn nation expecting further agreements in early 2019, its petroleum minister said. More »

GoM loop current research funded with $10.3 million grant

Following recommendations from a National Academies of Sciences, Engineering and Medicine report released earlier this year, the National Academies’ Gulf Research Program (GRP) is developing a long-term research campaign to improve understanding and prediction of the Gulf of Mexico Loop Current System (LCS). More »

TWMA secures contract with Neptune Energy

Specialist drilling waste management company, TWMA, has secured a seven-figure contract with independent exploration and production company, Neptune Energy. More »

Resman has acquired Restrack

Resman AS, a well and reservoir surveillance and intelligent tracer systems company, has announced that it has agreed to acquire Restrack AS, a tracer service provider, in a share purchase agreement. More »

Minister of the year awarded to Wellington Moreira Franco

Moreira Franco has had a long, varied and distinguished career spanning decades in Brazilian politics and academia, starting out as a sociology professor at the Federal Fluminense University before making the move into politics as the Mayor of Niterói in 1977. More »

ADNOC awards Austria’s OMV stake in Ghasha Offshore ultra-sour gas concession

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have awarded Austria’s OMV a 5% stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma, Nasr, Sarb and Mubarraz sour gas fields. More »

Equinor reports processing topside ready for Johan Sverdrup

The Johan Sverdrup processing platform is now sailing to Norway on board Boskalis Vanguard, the world’s largest heavy-transport vessel. More »

Oil near 15-month low on signs of surplus and economic concerns

Oil traded near its lowest closing level in 15 months as fears over slowing global economic growth compounded concerns that the market faces a supply glut in 2019. More »

TWMA secures major contract with Neptune Energy

Specialist drilling waste management company, TWMA, has secured a seven-figure contract with leading independent exploration and production company, Neptune Energy. More »

Permian's growth spurt at risk amid oil-price collapse

The U.S.’s biggest oil field may be about to pump the brakes if crude keeps plunging. More »

India circumventing U.S. oil sanctions on Iran

India will use escrow accounts of five Iranian banks held with UCO Bank to deposit money for oil purchases from the Middle East producer to overcome U.S. sanctions. More »

Saudi budget estimate for oil seen as “wishful thinking”

Some analysts say Saudi Arabia’s 2019 revenue forecast is surprising because they estimate it to be based on a relatively high price of oil. More »

Canada offers producers $1.1 billion in aid, Alberta sniffs dismissively

The Canadian government announced $1.1 billion (C$1.5 billion) in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46/bbl last month. More »

Crude plunges below $47, to lowest level since August 2017

Economic jitters and surging supplies from the U.S. to Russia hammered oil again, with crude suffering its biggest decline in more than three weeks. More »

Saudi Arabia optimistically estimates 2019 at $80/bbl and 10.2 MMbopd

Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. More »

McDermott selects new building for corporate headquarters

McDermott International has signed a lease for the new office building to serve as its corporate headquarters and will consolidate approximately 1,700 employees across five locations in the Houston area into one location. More »

Petrofac awarded Ithaca construction, commissioning contract

Petrofac’s Engineering and Production Services (EPS) business has secured a construction and commissioning contract with Ithaca Energy (UK) Limited (Ithaca) valued in the region of $10 million. More »

Sonangol and BP agree to advance BP’s activities in Angola

Angola’s Sonangol and BP today signed an agreement to progress to final investment decision the development of the Platina field in deepwater Block 18, offshore Angola. More »

Saudi Arabia makes rare, bullish call on oil in its 2019 budget

Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. More »

Canada offers $1.1 billion in loans for oil-sector liquidity

The Canadian government announced $1.1 billion (C$1.5 billion) in loans for the oil and gas sector, as well as some government funding for unspecified projects, after a supply glut sank heavy crude prices to as low as $13.46/bbl last month. More »

Oil spirals below $47 as dark clouds envelop demand outlook

Economic jitters and surging supplies from the U.S. to Russia hammered oil again, with crude suffering its biggest decline in more than three weeks. More »

24-Fiber ‘quick’ connectors provide optimum solution for multi-channel fiber in explosive atmospheres

A quick and easy solution can speed the certification of fiber optic cabling installed in explosive atmospheres including caustic marine environments. More »

Packers Plus has launched complete suite of high-efficiency frac plugs

The latest innovation from Packers Plus Energy Services Inc. is providing operators with higher efficiency plug-and-perf systems worldwide. More »

Ikon Science has acquired Perigon Solutions Ltd

Ikon Science Limited, a GeoPrediction technology company, has announced it has wholly acquired Perigon Solutions, a wellbore data management and visualization solutions company. More »

Hydra's fully-classed DP2 saturation diving vessel charter ready

Offshore and subsea construction company Hydra announces their fully classed DP2 saturation diving vessel, the Subsea Responder, is available for immediate charter. More »

EnerMech has been acquired by The Carlyle Group, announces new leadership

EnerMech has confirmed the conclusion of its sale to The Carlyle Group and announced the formation of the group’s board of directors. More »

CNOOC signs strategic cooperation agreements with nine IOCs

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL (in alphabetical order). More »

Rowan signs contract with CGX Resources for the Ralph Coffman

Rowan Companies plc has announced that the Ralph Coffman, a 240-C Class harsh environment jack-up rig, has been awarded a one-well contract from CGX Resources in Guyana for an estimated duration of 60 days. More »

Senex Energy completes initial flow test of Gemba-1, in the Cooper basin

Senex Energy Ltd. has successfully completed the initial flow test of the Gemba-1 gas exploration well in the Cooper basin, with stabilized flow rates of approximately 8 MMscfd, plus associated liquids. More »

Petrofac secures $10-million construction and commissioning contract

Petrofac’s Engineering and Production Services (EPS) business has secured a construction and commissioning contract with Ithaca Energy (UK) Limited valued in the region of $10 million. More »

President Energy reports drilling success of third well at Argentina's Puesto Flores concession

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided the following update relating to the Puesto Flores Concession in Rio Negro Province, Argentina. More »

Shell eyes Endeavor Energy for discounted $8-billion price

Shell is in negotiations to buy Endeavor Energy for $8 billion, or roughly half as much as the Texas oil producer was expected to fetch when it put itself on the block this year. More »

ExxonMobil props up its output by leading Permian in drilling

Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. shale. More »

Russia oil executives to discuss OPEC+ deal with Novak

Russian Energy Minister Alexander Novak plans to meet with executives from oil companies on Wednesday to discuss the OPEC+ deal and targets for next year. More »

China inks deals with Shell, majors as Xi signals open trade

China signaled its openness for business with a raft of deals that’ll give oil majors including Royal Dutch Shell new opportunities to develop fields in partnership with the nation’s biggest offshore explorer. More »

Eni approves the investment plan for Merakes Development Project in Indonesia

Eni will start with the execution of the Merakes Development Project in Indonesia following the approval received by the Minister of Energy of Indonesia and the authorization for the investment plan sanctioned by the company’s board of directors. More »

CAPP response to AER request to assess the significance of fluid disposal challenges

The Canadian Association of Petroleum Producers (CAPP) would like to thank the Alberta Energy Regulator (AER) for the opportunity to provide feedback regarding the significance of challenges associated with fluid disposal in Alberta. More »

Eni announces the approval of the investment plan for Merakes Development Project in Indonesia

Eni will start with the execution of the Merakes Development Project in Indonesia following the approval received by the Minister of Energy of Indonesia and the authorization for the investment plan sanctioned by the company’s board of directors. More »

Petrofac secures contract with Petroleum Development Oman

Petrofac has been awarded a contract worth around $115 million for the development of the Qarn Alam Co-Generation Project, located 350 km southwest of Muscat, Oman. More »

Shell is said to eye $8-billion deal for Endeavor Energy as price tag drops

Royal Dutch Shell Plc is in negotiations to buy Endeavor Energy Resources LP for about $8 billion, according to people familiar with the matter, or roughly half as much as the Texas oil producer was expected to fetch when it put itself on the block this year. More »

Exxon becomes Permian drill chief to combat falling oil output

Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. shale. More »

Oil closes below $50 for first time in one year as glut fears grow

OPEC has its work cut out to persuade the market that its output caps will stabilize oil prices -- and U.S. producers aren’t helping. More »

Tendeka continues flow of new technology launches to boost oil recovery

In response to the challenges of effective water injection in fractured reservoirs, independent global completions service company Tendeka has launched a new technology to optimize oil production. More »

Qatar Petroleum signs agreement to acquire interest in three offshore oil Fields in Mexico

Qatar Petroleum entered into an agreement with Eni to acquire a 35% participating interest in three offshore oil Fields in Mexico. More »

AFGlobal signs frame agreement with ExPert Riser Solutions

AFGlobal has announced they have signed a frame agreement with ExPert Riser Solutions, LLC that will bring together the companies’ marine drilling riser inspection and drilling riser repair services. More »

Equinor's Aasta Hansteen Nowegian Sea goes online

Equinor and its partners started production from the Aasta Hansteen gas field in the Norwegian Sea. Gas from the Aasta Hansteen field is available to the market for the first time and together with the Polarled pipeline the field opens a new region for gas export to Europe. More »

Anglo African Oil and Gas reports well results offshore Congo

AAOG, an independent oil and gas developer, has reported the following update in relation to its TLP-103C well at the Company’s Tilapia license. More »

Phase 1 of Senegal's SNE development commences FEED activities

Woodside has advised that the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture has agreed to commence front-end engineering and design (FEED) activities following the award of the subsea FEED contract to Subsea Integration Alliance for the SNE Field Development-Phase 1 (SNE development) offshore Senegal. More »

Oil gains near $52 as U.S. drillers cut rigs

Oil rose to near $52/bbl as the dollar fell and U.S. drillers cut rigs to the lowest in eight weeks. More »

Kuwait oil minister's resignation has been accepted

Kuwaiti Oil Minister Bakheet Al-Rashidi’s resignation has been accepted, according to a person familiar with the situation. More »

ExxonMobil and Sonangol sign MoU for Namibe Basin

Sonangol EP and ExxonMobil Corporation, a multinational oil and gas company in the United States, entered into a Memorandum of Understanding (MOU) on Friday, Dec. 14, 2018 at the head office of the Angolan oil company that defines the intention to sign service contracts with risks, for Blocks 30, 44 and 45 of the Namibe Basin. More »

Weir Oil and Gas awarded contract with Expro for repair of Powerchoke products

Weir Oil and Gas Dubai has announced it has signed a contract with Expro to provide authorized repairs, specifically for Expro’s PowerChokes product range. More »

BP announces sanction of Cassia Compression and Matapal gas projects in Trinidad

BP Trinidad and Tobago (BPTT) has announced the sanction for two new gas developments offshore Trinidad, Cassia Compression and Matapal. More »

Occidental CEO wants to keep rigs running even after oil's slump

Occidental Petroleum Corp. will look for ways to cut costs other than dropping rigs, in response to the recent slump in oil prices, according to CEO Vicki Hollub. More »

U.S. oil surge makes Bank of Russia skeptical on OPEC+ success

Russia’s central bank is not convinced that OPEC and its allies’ supply cuts can revive the oil market as it’s being countered by surging U.S. production. More »

Rules guiding pollution cuts adopted at UN climate meeting

Envoys at a United Nations conference adopted a set of steps on fighting climate change meant to guide efforts to rein in greenhouse gas pollution worldwide. More »

AMLO allocates $23 billion for Pemex to boost output in 2019

Mexican President Andres Manuel Lopez Obrador is boosting Petroleos Mexicanos’ budget to $23 billion (464.6 billion pesos) next year to reverse flagging oil production and increase domestic fuel output. More »

Qatar buys Mexico oil stakes from Italy's Eni after leaving OPEC

Qatar Petroleum is buying stakes in three offshore oil blocks in Mexico from Eni SpA, as the Arab country signs another global expansion deal after leaving OPEC. More »

Gazprom and Itochu sign Memorandum of Understanding on Baltic LNG project

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, president and CEO of Itochu Corporation, took place in St. Petersburg. More »

Parker Drilling files for chapter 11 bankruptcy

Parker Drilling announced that it and its material U.S. subsidiaries have entered into a restructuring support agreement (RSA) with holders of the company's securities. More »

Explorers face pain as oilfield costs jump: Wood Mackenzie

Shale explorers are in for higher equipment and service costs in 2019 after getting hit with double-digit inflation this year, according to Wood Mackenzie Ltd. More »

IEA says OPEC's unplanned supply losses could double its cut

OPEC may be about to succeed by accident, again. More »

First commissioning cargo departs Cheniere’s Corpus Christi facility

Cheniere Energy announced that the first commissioning cargo of LNG has departed from its Corpus Christi liquefaction facility. More »

Block Energy Plc has recovered 200 bbl of oil during flowback at West Rustavi license, Georgia

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce that more than 200 bbl of oil were recovered from the legacy vertical well 16a at its West Rustavi permit during a 10-hr flow period. More »

C-Kore Systems welcomes Mats Ekstrøm

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Oil falls below $52, little changed a week after OPEC+ cuts

Oil traded below $52/bbl in New York, just striking distance from where it trended a week ago after OPEC and its allies announced output cuts, as traders weighed incremental U.S. shale growth against softer demand for 2019. More »

Oil steadies below $53, little changed a week after OPEC+ cuts

Oil traded below $53/bbl in New York, little changed a week after OPEC and its allies announced substantial output cuts, as traders weighed an uncertain outlook for 2019. More »

Wood. reports 2018 pre-close trading update

Our positive trading momentum has continued and our full year results will demonstrate good organic revenue growth. More »

Total reduces its stake in Ichthys LNG, Australia for $1.6 billion

Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of $1.6 billion. More »

Petroleum Services Association of Canada delivers message to Ottawa

The Petroleum Services Association of Canada (PSAC) travelled to Ottawa last week to deliver a message to parliamentarians of the crisis occurring in Canada’s oil and natural gas industry and the need for a Canadian energy brand that includes oil and natural gas. More »

Trading `God' says shale has oil prophets groping in dark

Andy Hall, the oil trader nicknamed “God” for his lucrative calls on crude, says the U.S. shale boom has made it far harder to predict global supplies. More »

Saudis are said to target U.S. with sharp oil export cut

After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories. More »

Premier Oil said to eye bid for Chevron's UK North Sea assets

Premier Oil Plc is considering a bid for a package of North Sea oil and gas assets put on the block by U.S. oil major Chevron Corp. that’s worth about $2 billion, according to people familiar with the matter. More »

ExxonMobil makes FID to develop West Barracouta gas project

ExxonMobil said today that it has made a final investment decision to develop West Barracouta gas field in Bass Strait, to bring new gas supplies to the Australian domestic market. More »

Sercel awarded contract for 100,000-channel 508XT land seismic acquisition system

CGG has announced that Sercel has been awarded a contract by a major data acquisition company to supply land seismic equipment for a large onshore 3D seismic survey in the Middle East. More »

Siemens offers industrialized 3D printing for complex challenges

With the opening of the new state-of-the-art 3D printing facility at Materials Solutions Ltd. in the U.K., Siemens is continuing to drive the industrialization of additive manufacturing (AM). More »

Siccar Point Energy increases existing reserves-based lending facility

Siccar Point Energy has signed an agreement with its existing syndicate of banks to increase and extend its existing Reserves Based Lending Facility (“RBL”). More »

Emerson acquires advanced engineering valves

Emerson has announced it has acquired Advanced Engineering Valves (A.E. Valves), a leading manufacturer of innovative valve technology that helps LNG customers operate more efficiently. More »

LUKOIL and GAZPROM prepare to establish JV for field development

President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller discussed bilateral cooperation at a meeting. More »

Equinor has made a minor discovery, drilled dry well in North Sea

Equinor Energy AS, operator of production licence 630, has completed the drilling of wildcat wells 35/10-4 S and 35/10-4 A. More »

Ampelmann inks two new contracts in Asia Pacific

Dutch multinational Ampelmann has secured two new contracts in the Asia Pacific region. Two A-type systems have made their way to India and Indonesia, respectively, and will enable both short- and long-term Walk to Work (W2W) operations. More »

Jagged Peak considering new acquisitions in Permian

Jagged Peak Energy is considering expanding its footprint in the oil-rich Permian basin. More »

Shell, Eni face $1.1 billion Nigerian lawsuit over 2011 oil deal

The government of Nigeria is suing Royal Dutch Shell, Eni and other companies for more than $1 billion over a 2011 oil deal it says was tainted by corruption. More »

Late reversal sends oil lower as bulls can't kill fears of glut

Oil gave up all of its gains in the last half hour of trading and skidded to a loss as a smaller-than-expected decline in U.S. crude stockpiles revived fears of a global glut. More »

Western Gas selects McDermott and BHGE as development partner for Equus Gas Project in Australia

McDermott International, Inc. has announced they, with Baker Hughes, a GE company, have signed a memorandum of understanding (MOU) with Western Gas Corporation Pty Ltd to be the exclusive development partners for the Equus Gas Project in Western Australia. The companies were also awarded a contract to support the planning phases of the project. More »

AFGlobal launches new performance drilling platform

AFGlobal has announced the launch of their Performance Drilling platform, a unique combination of equipment and software aimed at the onshore and shallow water drilling markets. More »

AFGlobal and MHWirth sign distribution agreement

AFGlobal and MHWirth have entered into a distribution agreement, providing the managed pressure drilling market with a comprehensive package for deepwater rig systems. More »

Hess provides update on progress, plans through 2025

Hess Corporation will provide a detailed update on progress in executing its strategy for long term value creation at its Investor Day in Houston. The company’s plans through 2025 are expected to deliver strong performance across the following areas: More »

Bureau Veritas adds new COO, head of HR

Bureau Veritas, testing, inspection, and certification TIC services company, has announced the appointments of two leadership roles as the company continues its commitment towards growing in key market sectors and streamlining its business operations across North America. More »

Deloitte, Oil and Gas UK: Trust, technology, transformation key to re-energizing collaboration

The oil and gas industry’s drive to increase collaboration between suppliers and operators in the UK Continental Shelf (UKCS) has continued to maintain a consistent performance. More »

Deloitte, Oil and Gas UK: Trust, technology, transformation key to re-energizing oil and gas collaboration

The oil and gas industry’s drive to increase collaboration between suppliers and operators in the UK Continental Shelf (UKCS) has continued to maintain a consistent performance. More »

Coretrax secures investment to fast-track international growth

Coretrax, the independent wellbore clean-up and abandonment specialist, has received a substantial investment from private equity firm Buckthorn Partners to accelerate its ambitious international growth plans. More »

Oil tanker owners find solace in shale as OPEC readies cuts

America’s shale boom could be about to spare the world’s oil tanker owners from a typical OPEC ravaging. More »

U.S. oil production continues to grow despite lower prices

The U.S. government left its forecast for domestic crude production unchanged for 2019 even with prices averaging almost $11/bbl lower than its previous estimate. More »

OPEC data suggest deeper cut may be needed in late 2019

Production cuts agreed by OPEC and its allies are on track to balance global oil markets in the first half of 2019, but more work may be needed after that. More »

Alberta's output-cut mandate may be driving oil prices too high

Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well. More »

BSEE works to ensure safety for deepwater GOM production start-up

The Bureau of Safety and Environmental Enforcement recently conducted its final pre-production inspection of Chevron’s Big Foot tension leg platform, moored in the Gulf of Mexico about 225 mi south of New Orleans. More »

API reports that access for development allows oil and natural gas industry to be a major revenue generator for Federal and state governments

The American Petroleum Institute released the following statement regarding the Department of the Interior’s presentation of nearly $500 million in revenue awarded to New Mexico from oil and natural gas production on federal lands: More »

Marathon Oil reports successful Bakken core extension test in Ajax Area

Marathon Oil Corporation has announced encouraging early production results at an important four-well Middle Bakken pad in the company's Ajax area of the Williston Basin in Dunn County, North Dakota. More »

BHGE opens first artificial lift assembly, repair facility in Oman

Baker Hughes, a GE company joined forces with the Petroleum Development Oman (PDO) to open its first artificial lift systems assembly and repair facility in Oman to support PDO’s operations and other customers in the region, with the aim of optimizing production, saving costs and enhancing oil production. More »

Are North Sea operators walking the talk on supply chain collaboration?

Last week, I was in London at the Oil and Gas Council World Energy Capital Assembly (WECA), speaking on a panel about collaboration and capital efficiency in a new oil world. More »

DNVGL has been awarded bolt fatigue testing program contract by API

The American Petroleum Institute has awarded a contract to DNV GL, the technical advisor to the oil and gas industry, for the full-scale S-N fatigue testing of large diameter bolts. More »

Petrofac launches innovation zone

Minister for Energy, Connectivity and the Islands Paul Wheelhouse, has opened Petrofac’s new technology Innovation Zone in Aberdeen. More »

Eni announces new discovery, start-up, offshore Angola

Eni struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola. More »

Equinor has been granted a drilling permit for well 36/1-3 in production license 885

The Norwegian Petroleum Directorate has granted Equinor Energy AS a drilling permit for well 36/1-3, cf. Section 15 of the Resource Management Regulations. More »

Neptune Energy Norge takes operatorship and equity in Fenja field

Neptune Energy has announced it has completed integration with the former VNG Norge business. More »

Oil rises after report shows large crude-stockpile drop

Oil edged higher after a U.S. industry report signaled a bigger-than-expected draw in crude inventories last week. More »

Decom North Sea secures Decommissioning Challenge Fund grant award

Decom North Sea, the membership organization for the oil and gas late life and decommissioning sector, has successfully secured a Decommissioning Challenge Fund (DCF) grant award from The Scottish Government. More »

LUX Assure and the University of Strathclyde secure OGIC grant

LUX Assure, a specialist in the provision of chemical monitoring and management solutions, and the University of Strathclyde have secured a grant from the Oil and Gas Innovation Centre (OGIC) to further develop LUX’s successful CoMic technology to provide the industry’s first corrosion inhibitor micelle detection tool with automated data analysis capability. More »

Sulzer Wood wins contract extension with BP

Ellon-based rotating equipment services provider Sulzer Wood Limited has been awarded a five-year contract extension to provide pump maintenance services for BP operations in the North Sea. More »

Total commits to exploration in Guyana, invites NGOs to visit drilling operations

Total is ready to start its exploration campaign on the Guyane Maritime license, located 93.2 mi (150 km) off the French Guyana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated October 22, 2018. More »

Total commits to carry out its exploration campaign in Guyana, invites NGOs to visit drilling operations

Total is ready to start its exploration campaign on the Guyane Maritime license, located 93.2 mi (150 km) off the French Guyana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated October 22, 2018. More »

Total's Yamal LNG has started Train 3 twelve months ahead of schedule

On the occasion of the inauguration of Train 3 of the Yamal LNG project in the presence of the Prime Minister of Russia Dmitry Medvedev, Total announces the start of liquefied natural gas (LNG) exports from the third train of the Yamal LNG project in Russia. More »

Crude rises as supplies reduced by OPEC+

Oil rose on renewed optimism that production cuts announced by the OPEC+ coalition will re-balance the market, while Libya’s biggest field remained shut and risky assets globally rallied. More »

China’s oil demand will surge in 2019

Contrary to some observers who focus intently on trade data as a proxy for demand, China’s total oil product demand rose by only 150,000 bpd in 2018. More »

Russia to curb output in small increments as Saudis cut faster

Russia played a big part in making possible a new OPEC+ deal to curb production, but initially it’s letting Saudi Arabia shoulder the bulk of actual cuts. More »

Western Canada spot price surges +70% after mandatory output curbs

Alberta’s oil-production curtailment plan has largely accomplished its mission -- even before it has gone into effect. More »

U.S. shale becomes industry's safe haven as prices languish

Major oil companies are investing more in U.S. shale, not less, after the recent tumble in crude prices. More »

`This too shall end': Loews CEO Tisch eyes $75 oil in two years

While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75/bbl. More »

Hess has announced its 2019 EandP capital and exploratory budget

Hess Corporation has announced a 2019 EandP capital and exploratory budget of $2.9 billion. Of this, approximately 75% will be allocated to high return growth assets in the Bakken and Guyana. More »

Conoco sees U.S. shale growth at 25% in 2019, even as oil slides

ConocoPhillips, the world’s largest independent oil producer, sees shale production growing 25% next year even as crude prices tumble, proving the industry’s resilience in volatile markets, said CEO Ryan Lance. More »

Alberta works magic as oil production-cut plan staves off crisis

Alberta’s oil-production curtailment plan has largely accomplished its mission -- even before it has gone into effect. More »

Leakage of liquified petroleum gas at Equinor's Mongstad stopped

Right before 08:00 on Monday, Dec. 10, 2018 a liquified petroleum gas (LPG) leakage occurred at one of the Mongstad facilities. At 09:15 it was reported that the leakage had been stopped. More »

Saturn Oil and Gas Inc. has been named top purchaser in recent Crown land sale

Saturn Oil and Gas Inc. is pleased to announce that the company was the top purchaser of acreage in the Kindersley-Kerrobert area at the recent Crown land sale on December 4th, 2018. More »

Rovco live 3D visualization project awarded second phase of funding

Rovco, has been awarded further funding to develop the next stage of its integrated live 3D vision and artificial intelligence (AI) survey technology. More »

ADNOC has implemented IBM blockchain technology to streamline daily transactions

ADNOC has implemented IBM blockchain technology to streamline daily transactions More »

ADNOC awards China ZhenHua Oil a 4% interest in its onshore concession

The Abu Dhabi National Oil Company (ADNOC) has announced the 4% stake in its onshore concession, previously held by CEFC China Energy Company Limited (CEFC China), has been acquired by North Petroleum International Company Ltd, a subsidiary of China ZhenHua Oil Co. Ltd. More »

Equinor completes sale of non-core asset on UKCS

Equinor completes sale of non-core asset on UKCS More »

Libya's biggest oil field halts just as OPEC opts to cut output

Libya declared a state of force majeure at its largest oil field after an armed group forced a production halt, just days after OPEC exempted the country from global output cuts. More »

Huawei arrest intensives U.S.-China LNG spat

The arrest of a Chinese technology executive means the tariff war that ensnared LNG may not have reached a cease-fire. More »

China increases natural gas imports to avoid winter shortage

China has gone all out to avoid a repeat of last winter’s crippling natural gas shortages. The early verdict: so far, so good. More »

World Oil launches 2018 year-end drilling survey while entering 93rd year of forecasting history

Attention operators! World Oil has launched its 2018 year-end drilling survey, and we need your input to make the upcoming World Oil first-of-year Forecast a success. More »

Global jackup utilization down from 78% to 55%, according to Rystad

Since 2014, global jackup utilization has fallen from almost 80% to around 55%, where it has remained quite steady over the last two years. More »

Eni has partnered with BP in Egypt's Nour concession

Eni announces that the sale of a 20% participating interest to Mubadala Petroleum, a wholly-owned subsidiary of Mubadala Investment Company, and a 25% participating interest to BP in the Nour North Sinai Offshore concession, Egypt, has been approved by the Egyptian Government. More »

Drillers lay down U.S. rigs as oil volatility crushes plans

Oil explorers dialed back on drilling at the fastest pace in 2 1/2 years in U.S. fields as volatile crude prices crippled efforts to plan for growth. More »

Saudi Arabia juggles Iran and U.S. shale to deliver OPEC deal

Saudi Arabia’s energy minister emerged from days of heated OPEC talks joking that he wasn’t an easy man to be friends with. More »

Primed-to-pump shale will take OPEC cut but no longer needs it

U.S. shale’s response to OPEC’s decision to cut supply and boost prices: We’ll take it, but we don’t need it. More »

Simmons Edeco sells European well integrity services division

Simmons Edeco has announced that it has sold its well integrity service division, Simmons Edeco Europe. More »

Premier Oil has completed the Babbage Area sale

Premier has completed the sale of its interests in the Babbage Area to Verus Petroleum SNS Ltd. More »

HydraWell has executed Aker BP's Valhall field plugging program expeditiously

Through utilization of the PWC (Perforate, Wash and Cement) plug and abandonment method (PandA) on the Valhall field, HydraWell has contributed towards Aker BP executing its plugging program significantly quicker than planned. More »

President Energy reports successful testing of 2nd well in Rio Negro Province, Argentina

President Energy has provided an update relating to its concessions in Rio Negro Province, Argentina (President 90% and operator - EDHIPSA 10%) including the Puesto Flores/Estancia Vieja Concession ("PF/EV"). More »

Equinor receives green light for a uniquely profitable project

The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) of the Troll Phase 3 development. Capital expenditures of $918.5 million (NOK 7.8 billion) will help extend the productive life of the Troll field beyond 2050. More »

OPEC agrees on larger-than-expected production cut

OPEC finally broke an impasse over production curbs, agreeing on a larger-than-expected cut with allies after two days of fractious negotiations in Vienna. More »

Siemens supplies first lithium-ion battery solution for offshore drilling rig

The long-term sustainability of the offshore oil and gas sector is predicated on reducing costs and minimizing projects’ environmental impacts. More »

Oil rises as OPEC+ talks continue in hunt for production deal

Russian Energy Minister Alexander Novak met with his Iranian and Saudi counterpartsin an attempt to broker a deal as an agreement among OPEC members to curb output remained elusive. More »

Oil rises as OPEC talks continue in hunt for production deal

Oil traded above $51/bbl as OPEC entered a second day of talks in an attempt to draw up a deal to cut output. More »

Louisiana offshore port increases oil exports

The Louisiana Offshore Oil Port (LOOP) is pushing out the most crude it’s shipped in any one month since the terminal began supertanker exports in February. More »

OPEC talks end without oil-cuts deal as Russia holds back

OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding. More »

ABB has launched remotely operated passenger ferry

Ice-class passenger ferry Suomenlinna II was remotely piloted through test area near Helsinki harbor, proving that human oversight of vessels from anywhere is achievable with today’s technologies More »

Equinor has been granted drilling permits from Deepsea Bergen and West Hercules facility

Well 35/11-22 S will be drilled from the Deepsea Bergen drilling facility in position 61°5'2.27"N and 3°20'56.92"E after completing the drilling of wildcat well 6407/11-1 for Equinor Energy AS in production license 751. More »

Lukoil and Kazmunaygas establish a consortium on Zhenis project, Caspian

President of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGas Alik Aidarbayev signed agreements on joint cooperation and financing of the Zhenis project in the Kazakhstan's sector of the Caspian Sea. More »

Neptune Energy submits ‘Decision to Continue’ report for Cara project

Subsea tieback solution to Gjøa platform proposed for Norwegian North Sea oil and gas development. More »

Meet the new Permian, it's double the size of the old one

The U.S.’s fastest growing oil field may have even more to give. More »

Chevron boosts spending to $20 Billion, first increase since 2014

Chevron Corp. will hike spending by 9.3% next year to $20 billion, its first budget increase since 2014 as it expands investments in the Permian Basin and its Tengiz project in Kazakhstan. More »

U.S. becomes net oil exporter for first time in 75 years

America turned into a net oil exporter last week, breaking 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what U.S. President Donald Trump has branded as "energy independence." More »

Faroe Petroleum commences drilling of Cassidy prospect

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the commencement of the Cassidy exploration well 8/10-7 S, in the Norwegian North Sea (Faroe 15% working interest). More »

Eco Atlantic confirms 2019 drilling program offshore Guyana

The Partners on the Orinduik Block, being Eco Atlantic, Total and Tullow (Operator), approved the initial 2019 work plan and budget for the first exploration well on the Orinduik Block on Nov. 30, 2018. More »

Sparrows signs five-year servicing order with Pemex Procurement International

Sparrows Group has signed a five-year blanket order with Pemex Procurement International, Inc. acting on behalf of Pemex Exploracion y Produccion (PEP) to service 41 of its cranes situated on assets in four of the Mexican national oil company’s developments in the region. More »

Earthquakes in heart of Texas oil basin spur water crackdown

Texas is considering new restrictions on how shale explorers dispose of wastewater from oil drilling as earthquakes rattle the largest oil-producing American state. More »

Saudis back modest production cut, don't want to shock market

Saudi Arabia proposed a moderate oil-production cut from OPEC and its allies that would nudge the market back into balance. More »

OPEC waits on Putin's decision as it searches for production cut deal

OPEC meets on Thursday but the most important decision maker will spend the day a thousand miles away. More »

Pipeline opponents see vindication in Canadian oil patch's woes

As the Canadian oil industry endures its worst crisis ever, a fair share of the blame has been lobbed at environmentalists who oppose pipeline projects. More »

Saudis back modest OPEC+ oil cut, don't want to shock market

Saudi Arabia proposed a moderate oil-production cut from OPEC and its allies that would nudge the market back into balance. More »

Big oil headed for defeat in long Lofoten battle, minister says

The waters around the sensitive Lofoten islands will probably never be opened to oil exploration, according to Norway’s climate and environment minister. More »

Oil-sands crisis hits home as Canadian Natural cuts spending

The pipeline shortage that has been strangling the Canadian oil industry is weighing on spending plans for next year, with one major producer slashing its capital budget for 2019 by $750 million (C$1 billion). More »

OPEC+ recommends oil cuts, but no deal yet on size of curbs

Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut, defying a Twitter plea from President Donald Trump to keep the taps open, but their meeting didn’t agree on how big any reduction should be. More »

Gauthiers' Oilfield Rental, LLC has changed its name to Modex, LLC

Gauthiers' Oilfield Rental, LLC is pleased to announce that effective Dec. 1, 2018, it changed its name to Modex, LLC. More »

McDermott signs up Aqualis Offshore

Aqualis Offshore has entered into a master services agreement with McDermott Asia Pacific Sdn Bhd to provide engineering reviews and marine warranty services for the company’s offshore operations in the Asia Pacific region. More »

Oceaneering enhances global asset integrity capabilities

Oceaneering International, Inc. has announced that it has bolstered its expanding asset integrity business in Chandigarh, India with more capabilities. More »

Well-Centric has acquired Simmons Edeco Europe

Well-Centric, a FrontRow Energy Technology Group company, has announced the acquisition of Simmons Edeco Europe from its Canadian owner. More »

Decom North Sea publishes Managing Offshore Decommissioning Waste Guidelines

Decom North Sea has announced the publication of its Managing Offshore Decommissioning Waste Guidelines, produced in conjunction with D3 Consulting Ltd, during last week’s annual Offshore Decommissioning Conference. More »

Lloyd’s Register unveils AllAssets to digitalize inspection and maintenance

Delivering operational efficiencies and reducing costs is now a reality for industry. More »

Equinor boosts Vigdis

The subsea field Vigdis has been producing oil through the Snorre field for more than 20 years. Field production will now be boosted by almost 11 MMbbl. More »

Faroe's Cassidy exploration well commences in Norway

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce the commencement of the Cassidy exploration well 8/10-7 S in the Norwegian North Sea (Faroe 15% working interest). More »

Faroe makes Norwegian asset swap with Equinor

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce it has signed a binding agreement with Equinor Energy AS (a wholly owned subsidiary of Equinor ASA) (“Equinor”) to swap its interests in the Njord, Hyme redevelopment and Bauge development assets (the “Divested Assets”) in return for interests in four production assets on the Norwegian Continental Shelf: Alve, Marulk, Ringhorne East and Vilje (together the “Acquired Assets”) on a cashless basis (the “Transaction”). More »

Equinor strengthens its position in the Norwegian Sea

Equinor and Faroe Petroleum have agreed on a number of transactions in the Norwegian Sea and the North Sea region of the Norwegian Continental Shelf (NCS). More »

Surging oil drilling in Texas could cause Summer power shortages

Texas oil and gas drillers are soaking up more electricity than generators are planning to add by the time power demand peaks next summer. More »

Fracing slump deepens as Schlumberger walks oil `tightrope'

The North American fracing market -- already expected to be a downer for the holidays -- is turning out to be even worse than expected, according to the world’s biggest oil-service provider. More »

Apache achieves first oil at Garten development, UK North Sea

Apache Corporation has initiated production from its Garten development on Block 9/18a Area-W in the United Kingdom sector of the North Sea. More »

OPEC oil decision could undercut U.S. natural gas price surge

A decision by OPEC and its allies to cut oil output in order to bolster prices could, in an odd market twist, undermine a recent price surge for natural gas heading into winter. More »

Woodmac: ExxonMobil's Pluma marks a perfect 10

HOUSTON, LONDON and SINGAPORE -- ExxonMobil's run of success continued with its 10th Guyana discovery on in early December 2018. More »

Accenture acquires Enaxis Consulting

Accenture has acquired Enaxis Consulting, a Houston-based management consulting firm with deep experience in digital capabilities, data science and agile project delivery focused on the upstream oil and gas and oilfield services sectors and the airline industry. More »

Eagle Resources, Freedom Energy have entered into North Dakota drilling JV

Eagle Resources Corporation has entered into a joint venture agreement with Freedom Energy Resources LLC to explore and develop conventional oil drilling prospects in the Lodgepole Reef Formation in North Dakota, offsetting existing Lodgepole fields. More »

Eagle Resources and Freedom Energy Resources have entered into a drilling JV in North Dakota

Eagle Resources Corporation has entered into a joint venture agreement with Freedom Energy Resources LLC to explore and develop conventional oil drilling prospects in the Lodgepole Reef Formation in North Dakota, offsetting existing Lodgepole fields. More »

Talos Energy has commenced its Zama appraisal program

Talos Energy Inc. has announced that the Zama-2 appraisal well was spud in late November 2018. The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack. More »

Equinor has awarded wired drill pipe contracts to NOV and Schlumberger

Equinor is stepping up its use of wired drill pipe to acquire subsurface real-time data during drilling operations, in line with the corporate digitalization strategy and to prepare for automated drilling. More »

Opinion: Qatar leaving is an ominous sign for OPEC

The immediate question raised by Qatar leaving OPEC is, of course, what to call this? Qatarexit, or even Qatexit, sound wrong. Qatar-ta-for-now has a nice ring to it, even if it’s a tad unwieldy. Maybe just go with Qatout. More »

OPEC's push to cut even deeper shows price warriors were right

Four years ago, the OPEC secretary-general was defending the group’s decision to refuse production cuts and unleash a price war aimed at driving high-cost rivals including U.S. shale out of business. More »

Big oil battles gender problem that may take generations to fix

When Stacey Olson got her first energy job 29 years ago, she was a "company man." That’s what Chevron Corp. called its representative on an oil rig staffed mostly by contractors. More »

Saudi minister says premature to say if OPEC+ to cut output

Three days after Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman sent crude prices surging with an agreement to extend cooperation on oil, the kingdom’s top energy official made clear that the terms of a deal remain unresolved. More »

Oil jumps most since June on Saudi-Russian Pact, trade war truce

Oil surged the most in more than five months as Saudi Arabia and Russia extended a cooperation pact and U.S.-China trade tensions cooled. Unprecedented supply cuts in Canada also drove prices higher. More »

Canadian heavy crude surges after Alberta imposes cuts

Canadian heavy crude strengthened the most since June after the Alberta government mandated production cuts across the province. More »

Equatorial Guinea: oil producers should ‘stand together’

The Ministry of Mines and Hydrocarbons, representing the Government of Equatorial Guinea, calls for unity among oil producing ahead of this week’s 175th ordinary meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna. More »

Berry Petroleum sells non-core East Texas natural gas assets

Berry Petroleum Corporation has completed a transaction to sell its non-core producing properties and related assets located in the East Texas Basin for $6.7 million. Production, comprised primarily of natural gas, was approximately 0.7 MMbpd in the third-quarter 2018 from 4,532 net acres. More »

AFGlobal completes field evaluation of DuraStim Pump

AFGlobal has successfully completed its field evaluation of the DuraStim pump in the Permian Basin. AFGlobal’s new patented pressure pumping technology offers end users tremendous advantages over traditional fracing technology and those offered by other electric and turbine based systems. More »

ExxonMobil increases Stabroek resource estimate to 5 Bbbl; Makes 10th discovery

ExxonMobil has made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 Bboe. More »

Petrofac awarded North Sea contract extension by TAQA

Petrofac’s engineering and production services (EPS) business has secured a condition monitoring contract renewal from TAQA in the UK following competitive tender. More »

Aker BP has received drilling permit for well 24/9-14 S in production license 869

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for well 24/9-14 S, cf. Section 15 of the Resource Management Regulations. More »

The next challenge for Canada's oil patch comes from the sea

A new threat looms for Canada’s largest oil producing province, even as it imposes mandatory output cuts to ease a glut that has driven down crude prices. More »

Rowan Relentless has first two options exercised by ExxonMobil

Rowan Companies plc has announced that ExxonMobil has exercised the first two options for the Rowan Relentless, an R-Class ultra-deepwater drillship. More »

Hess has made 10th discovery at Stabroek Block offshore Guyana

Hess Corporation has made its tenth discovery offshore Guyana at the Pluma-1 well on the Stabroek Block. More »

ADES has acquired Weatherford's Saudi Arabia drilling operations

ADES International Holding Ltd., oil and gas drilling and production services provider in the Middle East and North Africa, has completed the acquisition of eleven onshore rigs from Weatherford International plc. in Saudi Arabia. More »

Qatar to leave OPEC as politics finally rupture cartel

Qatar said it will leave OPEC next month, a rare example of the toxic politics of the Middle East rupturing a group that had held together for decades through war and sanctions. More »

Alaskan quake affects some oil facilities, but not all

U.S. federal authorities issued an emergency declaration for Alaska after a magnitude 7.0 earthquake struck last Friday, Nov. 30, leaving thousands without electricity and temporarily shutting the state’s most important oil pipeline. More »

Alberta's Premier has mandated short-term reduction in oil production

Premier Rachel Notley has announced the temporary measure in response to the historically high oil price differential that is costing the national economy more than $80 million per day. More »

Alberta's Premiere has mandated short-term reduction in oil production

Premier Rachel Notley has announced the temporary measure in response to the historically high oil price differential that is costing the national economy more than $80 million per day. More »

Opinion: OPEC might try to kick Saudi Arabia when it's down

OPEC and friends meet in Vienna later this week, and the backdrop isn’t pretty. Oil prices are their lowest in over a year, and there’s the prospect of a glut in 2019 if the group doesn’t make a new deal to cut production. More »

Putin says Russia, Saudi Arabia will extend OPEC+ oil pact

Russia and Saudi Arabia agreed to extend into 2019 their deal to manage the oil market, known as OPEC+, although Moscow and Riyadh have yet to confirm any fresh output cuts. More »