Keystone pipeline shut after North Dakota spill

The Keystone crude pipeline was shut Wednesday after leaking thousands of barrels of crude in North Dakota, the third spill along the pipeline’s route in less than three years. More »

Total finally offloads tainted Russian oil shipment

A cargo of contaminated Russian oil was sold at a discount of more than $25/bbl to benchmark crude prices, six months after the consignment first got loaded onto a tanker. More »

Oil declines as Saudis boost output, China balks at trade truce

Oil slid the most in two weeks after Saudi Arabia boosted crude output by more than a million barrels a day against the backdrop of renewed worldwide trade woes. More »

‘Canada’ is becoming a dirty word in the oil patch

Encana's move south is likely to intensify the gloom already hanging over the Canadian energy industry, which has suffered from a lack of pipeline space that has choked off prospects for growth, prompting foreign companies to ditch more than $30 billion of assets in the past three years. More »

Exxon’s former CEO says climate change ‘with us forever more’

A New York courtroom was packed on Wednesday to see ex-Exxon Mobil Corp. CEO Rex Tillerson take the witness stand and explain that the company knew for years how it was a significant threat to the world. More »

Alberta loosens oil output limits via railroad allowances

The move is a boon to explorers constrained by the curtailment program imposed this year to stave off a collapse in western Canadian heavy crude prices brought on by a lack of pipeline space. More »

When green wins, a nation’s industry suffers

Well, it has finally happened. A perfect combination of overly aggressive environmental activism, combined with fumbling by governmental authorities, has incapacitated the Canadian oil industry. (World Oil Editorial) More »

Fluor awarded engineering services agreement by KPO in Kazakhstan

“Our involvement in the early stages of the project means we can work with KPO across a range of work to optimize the Karachaganak field with a focus on achieving an outstanding safety performance and operational excellence,” said Mark Fields, group president of Fluor’s Energy and Chemicals business. More »

Petrobras adds Emerson managed hosting services to support deepwater operations

Petrobras has been using Emerson’s exploration and production software for over 25 years, including solutions for interpretation and modeling, reservoir characterization, formation evaluation and seismic processing. More »

DNV GL issues efficiency-minded recommended practices for subsea pumping systems

DNVGL-RP-F303 has been published following a joint industry project including participants from subsea operators Equinor, Petrobras, Shell and Woodside in addition to four major systems suppliers; Aker Solutions, Baker Hughes, OneSubsea, and TechnipFMC. More »

Encana changing its name, moving headquarters to the U.S.

"A domicile in the United States will expose our Company to increasingly larger pools of investment in U.S. index funds and passively managed accounts, as well as better align us with our U.S. peers," said CEO Doug Suttles. More »

Total sells offshore Brunei interest to Shell

Total has signed an agreement to sell wholly owned subsidiary Total EandP Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell1 for $300 million. More »

Bolsonaro wants Brazil to accept Saudi invitation to join OPEC

The Saudi offer highlights Brazil’s growing importance as an oil producer as well as the challenge it poses to the producer group’s influence on crude markets. More »

Talk of a frac ban has one driller tapping federal lands in advance

Independent shale producer Concho Resources Inc. said it’s tapping federal acreage for drilling now in case the U.S. elects a president who favors a fracing ban. More »

Idled frac fleets sold for scrap amid shale drilling slump

In previous market slumps, fracers parked unused equipment to await a revival in demand, but this time it’s different: Gear is being stripped down for parts or sold for scrap. More »

Churchill logs four successful drillsting severs in UAE with pre-placed tool

Churchill Drilling Tools announced four successful drill-string severs using its HyPR HoleSaver, following stuck pipe events across the Middle East, including two in the UAE. More »

Dolphin Drilling enters multi-year strategic alliance with i3 Energy

Dolphin Drilling has announced a two-month contract extension with i3 Energy for use of the Borgland Dolphin semi-submersible drilling rig and agreed to enter into a four-year strategic operations agreement between both companies. More »

TGS launches 3D multi-client project offshore Argentina

The Malvinas 3D survey will cover approximately 7,300 km² of the highly prospective Malvinas Basin, which saw spirited interest during Argentina Round 1 earlier this year. More »

Equinor taps ABB to connect world’s largest offshore wind farm to UK grid

ABB has been selected by energy companies SSE Renewables and Equinor to supply its high-voltage direct current (HVDC) Light converter systems to connect the world’s largest offshore wind farms in the Dogger Bank region of the North Sea to the UK transmission network. More »

Norwegian oil crews stigmatized in the “climate change” era

Oil was discovered in the North Sea in the 1960s and has made Norwegians rich, but that fairy tale is now losing sway as a growing number of politicians and environmental groups are calling for a shutdown of production with as much half of the estimated resources still in the ground. More »

Premier Oilfield Group announces Patrick Keenan as CEO

Keenan began his 45-year oilfield career as a petroleum geologist providing mudlogging and wellsite geological consulting services both on- and offshore in the U.S., North Sea, West Africa and the Middle East. More »

Reveal Energy Services validates more than 10,000 hydraulic fracturing stages

Reveal Energy Services announced the company has validated more than 10,000 hydraulic fracturing stages in the US and Canada with its simple, accurate, affordable pressure-based technology. More »

Pemex increases output by tapping more readily-accessible fields

Bonds of Petroleos Mexicanos rose after the producer reported the first output increase in six quarters as it taps easier-to-reach onshore and shallow water fields. More »

Saudis ready for deeper cuts, says OPEC minister

Saudi Arabia’s Energy Minister Prince Abdulaziz said his country is ready to make deeper cuts in oil output than it agreed to with other global producers, according to Nigerian Minister of State for Petroleum Resources Timipre Sylva. More »

Conoco generates almost $1 billion of free cash flow in Q3

ConocoPhillips posted higher-than-expected third-quarter earnings as the world’s largest independent oil producer generated almost $1 billion of free cash flow despite lower crude prices. More »

BP profit beats as strong refining offsets lower oil price

BP reported profit that beat analyst estimates as a strong refining performance offset the effect of lower oil and natural gas prices, and bad weather that curbed production. More »

New UL Edmonton customer service center and laboratory accelerates manufacturing and supply chain safety

The facility addresses full-service safety and environmental solutions for the oil and gas industry and equipment installed in potentially explosive atmospheres with an expanded footprint marking UL's 99-year presence in Canada. More »

Shale Support expands partnership with Shale Rail in Wysox, PA

Shale Support Global Holdings has signed an extension to continue working with Shale Rail as the exclusive supply company for a Wysox, Pennsylvania, facility. More »

Fugro’s Edward Saade reappointed to NOAA Federal Advisory Committee

The U.S. National Oceanic and Atmospheric Administration has reappointed Fugro USA President Edward Saade to its Hydrographic Services Review Panel. The 15-member federal advisory committee comprises individuals with a range of maritime expertise to provide independent recommendations for improved navigation services and coastal resilience. More »

TGS acquires full ownership of Oklahoma’s Kingfisher 3D

The survey extends TGS’ leading onshore seismic data coverage in the core of the SCOOP and STACK in the Anadarko Basin. More »

Well-SENSE’s FLI technology marks its first round of offshore deployments

Well-SENSE has successfully completed its first round of commercial offshore FiberLine Intervention (FLI) projects worth a six-figure sum, demonstrating efficiency gains and the acquisition of high quality, rich downhole data. More »

Halliburton and Repsol sign EandP cloud data management agreement

The software as a service enables users to load, ingest, manage and access log, well and other EandP data across different locations for greater efficiency and productivity throughout Repsol’s asset portfolio. More »

Women’s Global Leadership Conference highlights importance of enabling talent from a variety of backgrounds

Keynote speakers at the Women’s Global Leadership Conference discussed the critical role that diverse, multi-talented teams play in the future success of the oil and gas industry. More »

Good news for Vaca Muerta drillers in Argentina’s election results

Some industry observers think Fernandez may provide drillers with a capital-controls loophole, which is what Kirchner did in 2013 to lure Chevron to Vaca Muerta. More »

Environmentalists say tapping Australian shale would worsen carbon emissions

Opening up a potentially huge shale gas region in Australia’s Northern Territory would increase the country’s already-hefty greenhouse gas emissions making it a “particularly dangerous” contributor to climate change, according to a new study. More »

Exxon Mobil’s climate trial in New York may hinge more on intent than evidence

New York’s $1.6 billion securities-fraud lawsuit against Exxon Mobil begins a second week of trial Monday, after a series of witnesses failed to provide any concrete evidence that the oil giant knowingly misled shareholders about its climate change accounting. More »

Shale’s doubters getting their moment as revolution falters

“Independent, unbiased analysis can shed a light of truth on management projections,” said Nick Volkmer, RS Energy’s vice president of intelligence. “It’s well-known that management teams are often compensated for production and reserves growth, incentivizing optimism and a rosy view of the future.” More »

Oil declines on new signs of expanding U.S. crude stockpiles

Oil fell for the first time in a week amid renewed signs of swelling crude inventories in the world’s biggest economy. More »

Supermajor investors bracing for bad news as headwinds gather

Slumping energy prices, sluggish global demand and shrinking chemical margins are weighing on the oil industry as its biggest names prepare to announce quarterly results to investors demanding ever-higher payouts. More »

Oil posts biggest weekly gain in five weeks on trade optimism

Oil posted the biggest weekly gain in more than a month as supplies tightened and the White House signaled progress on U.S.-China trade talks. More »

Lease agreement brings Transocean Barents to Bull Arm Fabrication site

Nalcor Energy – Bull Arm Fabrication has signed an agreement with DF Barnes that will have the Site play host to the ultra-deepwater semi-submersible drill rig, Transocean Barents, as it readies for further exploration work offshore Newfoundland in 2020. More »

American natural gas and oil continues as major revenue generator for education and conservation funding

“Responsible natural gas and oil development continues to bring incredible economic and conservation benefits to communities across the nation,” said API manager of upstream and industry operations Stephanie Meadows. More »

Harbor Island crude terminal development underway on Texas Gulf coast

Lone Star Ports is moving forward on their project to develop a world-class marine crude oil terminal on Harbor Island, located at the entrance of the Corpus Christi Ship Channel. More »

Apache executive’s departure sparks worst rout since 2016

The high-profile geologist leading one of Apache Corp.’s most-important exploration ventures has stepped down. The company’s shares and bonds tumbled, and the cost to insure against default surged. More »

Oil market bulls regroup, but don’t bet on a rally just yet

Money managers boosted their net-long position on West Texas Intermediate crude for the first time since mid-September in the week ended Oct. 22, data released Friday show. More »

Rick Perry: World “awash” in crude, thanks to U.S. shale output

U.S. shale production has turned the world “on its head,” and Goldman Sachs Group Inc. is “off a bit” in a report last week saying that the bonanza is fading, Perry said on Sunday in Dubai. More »

IEA: Offshore wind to become a $1 trillion industry

Offshore wind power will expand impressively over the next two decades, boosting efforts to decarbonize energy systems and reduce air pollution as it becomes a growing part of electricity supply, according to an International Energy Agency report. More »

BP invests in carbon-offset monetization firm

BP has been a long-term advocate for the establishment of carbon pricing systems and already supports and enables projects that reduce emissions and generate environmental credits, both for voluntary use and compliance purposes. More »

Oil drillers get $18 billion break thanks to law legislators now regret

The U.S. has forfeited some $18 billion tied to oil and gas production in the Gulf of Mexico since 2000 because of a decades-old law that gave energy companies a break on paying royalties when drilling in deep waters, federal investigators concluded Thursday. More »

Trump highlights benefits of shale to U.S. economy and the environment

The Trump administration showed support for energy innovation in the United States this week, issuing a report that directly outlines how U.S. shale production is positively impacting both the economy and the environment. More »

Oil rises after stock draw, pipeline outage temper economic fears

Oil traded higher after a surprise U.S. crude stockpile draw coupled with an outage at a key North Sea pipeline tempered weak economic data from Germany. More »

CandJ Energy Services and Keane shareholders approve merger, announce new company name

CandJ Energy Services and Keane Group announced that the shareholders of both companies approved all of the proposals necessary for the closing of the previously announced all-stock merger of equals between Keane and CandJ. More »

Marathon investors say shareholders back removal of CEO

Two activist investors in Marathon Petroleum say there is now broad-based shareholder support for immediate changes at the company including the resignation of chairman and CEO Gary Heminger. More »

International SOS increases investment in North Sea medical services

International SOS, which previously had a minority stake in Iqarus through a joint venture, is becoming the majority shareholder and taking sole ownership of the business in Aberdeen. More »

Total dedicates its $400 million global venture fund to carbon neutrality

Total's investments will support start-ups that develop innovative technologies and solutions which help companies to reduce their energy consumption or the carbon intensity of their activities. More »

McDermott lands Greater Tortue fabrication subcontract

McDermott lands Greater Tortue fabrication subcontract More »

New Johan Sverdrup crude stealing share in key global markets

Norway’s new Johan Sverdrup oil grade is making inroads in Asia, threatening to undermine sales of similar crudes from Africa and South America. More »

Climate risk leads Kuwait to consider reducing production targets

Kuwait, OPEC’s fourth-biggest member, is considering cuts to its oil production capacity targets, in large part because mounting concern about climate change will constrict demand for fossil fuels. More »

Oil rallies after surprise decline in U.S. crude stockpiles

Oil spiked above $55/bbl for the first time in three weeks after a surprise drop in U.S. crude supplies signaled strengthening demand. More »

LUKOIL signs exploration MOU with Equatorial Guinea

The memorandum lays the basis for LUKOIL’s potential participation in projects to explore and produce hydrocarbons in Equatorial Guinea. More »

OPEC+ deal would improve by including U.S. shale forecasts: Gazprom Neft

The OPEC+ oil-production cuts deal could be improved by taking into account forecasts for global crude-demand growth and U.S. shale, Gazprom Neft PJSC Head of Strategy and Innovation Sergey Vakulenko said in an interview on Wednesday. More »

Fracing slowdown weighs on Caterpillar as sales of pumps drop

The U.S. shale slowdown is weighing on Caterpillar Inc., which is selling fewer of the pumping units used in fracing. More »

China adds incentives for domestic natural gas production as imports increase

Natural gas production has recently grown in China largely because of increased development in low-permeability formations in the form of tight gas, shale gas, and to a lesser extent, coalbed methane. More »

Enginei EFMS portal enhances vessel tracking and route planning

Marine electronic fuel management system (EFMS), enginei, now incorporates specialist Tidetech global datasets in the form of detailed map overlays for more accurate vessel tracking and route planning. More »

Despite headwinds, Chevron sees ‘long, healthy pace’ in Permian

Chevron sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms. More »

Supreme Court allows states to sue oil companies over climate change

The U.S. Supreme Court let government officials press ahead with three lawsuits that accuse more than a dozen oil and gas companies of contributing to climate change. More »

Oil advances on report OPEC, allies to discuss deepening cuts

Futures climbed more than 2% in London and New York on Tuesday. Members of the Organization of Petroleum Exporting Countries are concerned about the outlook for demand next year, Reuters reported, citing unnamed cartel sources. More »

Trendsetter wins Talos connector contract

Talos plans to use Trendsetter’s TC7 clamp connectors and ancillary equipment on the Bulleit development located in the Gulf of Mexico’s Green Canyon 21 block. More »

Expro appoints new CFO

International oilfield services company Expro announced the appointment of Quinn Fanning as chief financial officer. More »

Conference to examine opportunities in the subsea umbilical industry

In a first for the sector, industry bodies Subsea UK and the Umbilical Manufacturers Federation have joined forces to deliver a conference focusing on the new developments and opportunities which exist in the subsea umbilicals industry. More »

Chevron wins 90-day Venezuela sanction waiver extension

The Trump administration extended Chevron’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer to keep its toehold in the crisis-stricken Latin American nation as U.S. sanctions severely restrict crude exports. More »

Energy unease and bigger deficits in the cards for Canada under a Trudeau minority

Larger federal deficits and continued uncertainty for the energy sector are in store for Canada after Prime Minister Justin Trudeau won a second term on Monday, investors and analysts say. More »

Oilfield Helping Hands reaches milestone for oilfield families in need

Oilfield Helping Hands has now shared $5 million with oilfield families in need. More »

McDermott financing lifeline faces possible bondholder hurdle

McDermott’s bondholders could make it difficult for the embattled energy-industry contractor to make further draws on its $1.7 billion rescue loan. More »

Oil steadies despite continuing U.S. stockpile growth

Oil held steady as estimates of brimming U.S. crude stockpiles added to signs that, with demand constrained by weak economic growth, markets remain comfortably supplied. More »

Petrofac secures three engineering contracts in MENA

Petrofac will provide FEED and conceptualization studies to clients in Oman and Libya following the award of a clutch of new contracts. More »

Uganda to pick investors for five new blocks, start oil export plans

Uganda has some of the biggest oil reserves in sub-Saharan Africa – 6 Bbbl – of which it has estimated 1.4 billion are recoverable. It canceled a plan in 2016 to jointly develop an export pipeline to Kenya’s coast in favor of a southern route through Tanzania. More »

Weatherford installs 113 consecutive whipstocks with 100% single-trip execution

Weatherford International announced a milestone of 113 consecutive cased hole whipstock jobs completed in a single trip. The installation success began with the first run in February 2018 and reached number 113 in October 2019. More »

Weatherford installs 113 consecutive whipstocks in California with 100% single-trip execution

Weatherford International announced a milestone of 113 consecutive cased hole whipstock jobs completed in a single trip. The installation success began with the first run in February 2018 and reached number 113 in October 2019. More »

Presalt auction may raise as much as $50 billion for Brazil

An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates. More »

Trump to nominate deputy energy secretary to replace Rick Perry

Dan Brouillette has been serving as No. 2 to Perry, who led the Energy Department with its $36 billion budget and control of the nation’s nuclear arsenal and emergency crude oil stockpile. More »

Colorado tightens drilling restrictions near homes

It wasn’t so long ago that Coloradans voted against a bid to block oil and gas development near homes. The state, one of the nation’s top crude-producing regions, is cracking down anyway. More »

Ecopetrol acquires Gato do Mato interest in Santos presalt

According to Ecopetrol estimates, the company could incorporate about 90 MMbbl of crude oil in contingent resources from 2020, which will be gradually added to its balance of reserves. More »

Africa’s biggest crude producer remains stuck on imported fuels

Over the past 12 years, Nigeria tried and failed four times to crank up its aging and unprofitable crude-processing plants. More »

Shell exits two Caspian Sea projects due to high costs

The retreat from the fields in the Kashagan area reflects an industry-wide push to cut break-even costs as megaprojects give way to smaller endeavors with quicker returns. More »

Equinor’s first cargo from Johan Sverdrup set for Asia trip

The first cargo is expected to leave for customers in Asia this week, and contains 1 MMbbl of crude with a market value of around $60 million. More »

McDermott signs agreement for up to $1.7 billion of new financing

"This new credit agreement is a continued signal from our lenders that they support McDermott, our underlying business, growth strategy and ability to achieve a long-term balance sheet solution," said David Dickson, president and CEO of McDermott. More »

Aramco IPO delayed on disagreement over valuation

At a meeting to give a green light for a deal, bankers made clear that international investors had little appetite to buy at a $2 trillion valuation, according to people familiar with the matter. More »

Bilfinger Salamis extends training management contract with AIS Training for seven years

As part of the contract, AIS Training will provide more than 450 industry-accredited technical and safety-critical skills courses, in areas such as offshore survival, emergency response, crisis management, rope access, rigging and lifting, scaffolding and fabric maintenance. More »

Temasek offers to buy control of rig-builder Keppel for $3 billion

Becoming the majority owner of one of the world’s biggest oil-rig makers would be seemingly at odds with Temasek’s preference to steer away from fossil fuels; the firm decided against investing in Aramco’s IPO in part over environmental concerns. More »

Oil short-sellers’ gloom deepens with price stuck below $55

Hedge funds are increasingly pessimistic on oil as U.S. stockpiles surge and crude refining plunges. Bets on a West Texas Intermediate crude rout rose 7.6% in the week ended Oct. 15 and have almost tripled since mid-September, data released Friday show. More »

U.S. mulls extending Chevron’s Venezuela waiver, with more conditions

The Trump administration is considering an extension of Chevron’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter. More »

Maersk Drilling wins POSCO three-well drillship contract

The contract is expected to commence in the end of 2019, with an estimated duration of 154 days. More »

Total to bring together developers, data scientists at Digital Factory

Total announced plans to open a Digital Factory in Paris in early 2020 that will bring together up to 300 developers, data scientists and other experts to accelerate the group’s digital transformation. More »

TGS supports sustainability efforts in Brazil with film festivals

The event, organized in conjunction with the Latin American Environmental Film Festivals, and which focuses on the causes related to sustainability, drew an audience of nearly seven thousand people. More »

API supports reauthorization of ARPA-E program

The American Petroleum Institute released the below statement in support of reauthorizing the Advanced Research Projects Agency – Energy (ARPA-E), which the House Science, Space, and Technology Committee voted on to the full House on Thursday, October 17th. More »

Schlumberger takes $12.7 billion “goodwill” hit from past acquisitions

Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the oil services company on Friday. More »

OPITO works with industry to support drilling safety

OPITO, the global, not-for-profit skills organization for the energy industry, has collaborated with drilling employers to develop an online assessment to reinforce the competency of roustabouts. More »

OPEC may roll out new price-control technique in December

Amid forecasts of a new surplus next year, there’s a chorus of calls from Morgan Stanley to Commerzbank AG for the alliance to deepen the curbs when it meets in Vienna in December. More »

World Oil Awards 2019 winners honored at Houston gala

More than 350 of the upstream oil and gas industry’s brightest minds gathered Thursday to find out, and celebrate, the winners of the 2019 World Oil Awards. More »

Marathon Petroleum’s board and investors are said to discuss the CEO’s future

Marathon Petroleum board members are meeting this week with activist investors to discuss chief executive officer Gary Heminger’s future and the company’s strategy amid calls to split up its businesses, according to people familiar with the matter. More »

Safe Influx successfully field trials automated well control technology

The system was interfaced with a traditional land rig and performed automated well control, i.e. influx detection, spacing out, stopping of the mud pumps, stopping of the top drive and then shutting-in of the blowout preventer. More »

New starts urged to drive industry future

The next generation of the UK’s oil and gas industry are being called upon to make their voices heard on key issues including the energy transition and climate change at a new event being held in Aberdeen on Thursday 24 October. More »

Pepperl+Fuchs opens IoT-enabled distribution center

An over $25 million investment that spans an area of 110,000 square feet, the distribution center serves as the central warehouse from which Pepperl+Fuchs distributes more than 10,000 products worldwide. More »

ADNOC, LUKOIL sign cooperation agreement on UAE gas fields

The Ghasha mega-project is expected to produce over 1.5 Bcfd of natural gas by around 2025. More »

Nigeria isn’t crossing its fingers on $62 billion profit-sharing claim

Nigeria does not expect that it would get all of the $62 billion claim made against international oil companies in a dispute over sharing of profits from deepwater wells. More »

Climbing U.S. inventories hold oil prices down

Oil traded near $53/bbl after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing while demand ebbs. More »

Chevron’s buyer for UK fields seek funds from commodity traders

A unit of Delek Group Ltd. is seeking alternative means of financing to complete its $2 billion acquisition of some of Chevron Corp.’s North Sea oil and gas assets after initial funding arrangements hit stumbling blocks, according to people familiar with the matter. More »

SBM Offshore completes US$1.14 billion financing of Liza Unity FPSO

The project financing was secured by a consortium of nine international banks. The company expects to draw the loan in full, phased over the construction period of the FPSO. More »

Wood appoints new CEO in the Americas

Wood announced the appointment of Stephanie Cox as CEO of its Americas business, succeeding Andrew Stewart who has been appointed executive president of strategy and development for the global business. More »

Ecopetrol logs results in near-field exploration efforts

Ecopetrol reports that the Flamencos-1 well, located in Puerto Wilches, confirmed presence of crude oil in the La Paz formation. More »

INSITE program launches major industry-science collaboration

The INSITE program has launched a major collaboration between offshore industries and researchers, designed to give marine scientists access to valuable industry-acquired ecological data. More »

U.S. Gulf of Mexico crude oil production to continue to set records through 2020

Based on EIA’s latest Short-Term Energy Outlook’s expected production levels at new and existing fields, annual crude oil production in the GOM will increase to an average of 1.9 MMbpd in 2019 and 2.0 MMbpd in 2020. More »

ADNOC links up with Russian Energy Agency to explore collaboration opportunities

Under the terms of the agreement, ADNOC and REA will jointly explore opportunities for collaboration in relation to Abu Dhabi’s exploration and production concessions. More »

U.S. crude exports drying up as tanker rates skyrocket

Soaring oil-tanker costs are drying up activity in the U.S. export market as sellers are slow to lower offers and buyers are skittish, according to market participants. More »

Canada’s election will determine its role on the global energy stage

Not only will the vote determine the future of carbon taxes, pipeline approvals and environmental regulations, it’s also a referendum on a dispute central to the country’s identity: Is Canada a global oil superpower or is it a leader in fighting climate change? More »

OPEC+ will have to cut output in December, according to market data

The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all see global oil inventories building in the first half of next year, as they almost unanimously cut their forecasts for oil demand growth for 2019 and 2020. More »

API: 10 fast facts about Ohio’s energy revolution for the Democratic debate

On Tuesday, candidates for the Democratic presidential nomination debate in Ohio, but many support policies that would undermine the very state hosting their debate. More »

EU’s lending arm delays vote on limiting fossil-fuel financing

The European Investment Bank stopped short of agreeing a strategy to limit funding for fossil fuels, a plan that would help step up Europe’s ambition to fight climate change. More »

Noia fall seminar points to bright future for Canadian offshore exploration

"We see many prospects that have the potential to hold billions of barrels of oil. There are probably two dozen prospects HIbernia-size or bigger," said Jim Keating, executive vice president, offshore development and corporate services at Nalcor Energy. More »

Veolia wins Guyana FPSO seawater treatment project

The award is for the design and procurement of equipment with construction technical assistance for a seawater treatment plant sized for 263,244 bpd of low sulphate water and 31,700 bpd of reverse osmosis process water for the Liza Unity FPSO. More »

Seplat to buy Eland as it pursues top spot among Nigeria EandPs

The deal highlights how the retreat of some oil majors in recent years is allowing independent players to grow. More »

Hunting to seek innovative partnership opportunities at its Stavanger TEK-HUB

Hunting’s TEK-HUB is opening the initiative up in a bid to support innovators in Europe and beyond. More »

Geopolitical risks drive unprecedented hike in oil tanker rates

“At current rates, owners could pay back a 10-year-old VLCC, valued at $47m including scrap value of $16m, after only two trips,” Clarksons Platou analysts said in a research note Monday. More »

Crude falls, along with hopes for a new U.S.-China trade deal

Oil dropped the most in two weeks amid concern that the recent U.S.-China trade talks won’t lead to a deal. More »

Gazprom tallies gas production, infrastructure progress in eastern Russia

Gazprom reports preparations for the first pipeline supplies of Russian gas to China via the Power of Siberia gas pipeline, among several other eastern Russia gas projects. More »

Petro Matad begins Heron-1 testing in Mongolia

Mongolian oil explorer Petro Matad Limited has commenced testing operations at the Heron-1 well in the north of Block XX, eastern Mongolia. More »

Shipping costs soar as LNG vessels drop out of service

The day rate for a standard tanker East of the Suez Canal jumped 57% in the week to Oct. 9, as issues related to U.S. sanctions on units of China’s COSCO Shipping Corp. start to hit just as the heating season begins to boost demand. More »

API: Senate fighting yesterday’s battles with CPP vote

“If senators want cleaner power, advocating for more natural gas-generated electricity would be a more effective route than generating more red tape,” wrote Scott Parker, rapid response and content manager at the API. More »

Iran’s Rouhani vows response to oil tanker attack

President Hassan Rouhani vowed Monday that Iran would respond to an attack on one of its oil tankers in the Red Sea, saying the evidence suggested it was the work of a government not a terrorist group. More »

Neptune Energy acquires North Sea assets from Energean

The portfolio will provide Neptune with material growth in contingent resources, an estimated 30 MMboe of 2P reserves and near-term production in core areas of the North Sea close to infrastructure. More »

Railroad Commission of Texas updates logo to reflect modern agency

The Railroad Commission of Texas (RRC) unveiled updates to its logo that preserve the legacy of Texas' oldest regulatory agency, while better reflecting its modern duties and responsibilities. More »

Parsley Energy acquires Jagged Peak Energy in $2.27 billion all-stock deal

"Jagged Peak's oily, high-margin asset base slots in nicely to our returns-focused development approach, its acreage footprint and water infrastructure dovetails into our legacy Delaware Basin position," said Matt Gallagher, Parsley's president and CEO. More »

Element invests in center of excellence in Houston

Following the integration of the Houston Exova laboratory and a major upgrade of $5 MM in technologies and technical expertise with ISO 17025 and Nadcap accreditation, the Element Houston site now hosts 150 experts across eight departments. More »

Is peak output around the corner for U.S. shale drillers?

“I don’t think the call for the end of shale is stronger this year,” said Ed Morse, global head of commodities research at Citigroup Global Markets Inc. “But it’s more detailed.” More »

Santos targets LNG growth with $1.4 billion ConocoPhillips deal

Santos Ltd. agreed to buy ConocoPhillips’ northern Australia business for $1.4 billion in a deal that will boost the Adelaide-based oil and gas producer’s position in the growing Asian liquefied natural gas market. More »

Oil short-selling more than doubles despite Mideast risks

Oil short-selling has more than doubled in three weeks, with attacks on oil facilities and tankers unable to push prices higher for very long. More »

Nigeria, oil majors start talks to end $62 billion dispute

Nigeria began preliminary talks with international oil companies to settle a dispute over revenue. The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil exceeds $20/bbl. More »

Santos targets LNG growth wit $1.4 billion ConocoPhillips deal

Santos Ltd. agreed to buy ConocoPhillips’ northern Australia business for $1.4 billion in a deal that will boost the Adelaide-based oil and gas producer’s position in the growing Asian liquefied natural gas market. More »

Total commits $600 million to expand LNG presence in India

Total SA is spending $600 million to expand its presence in one of the world’s fastest growing natural gas markets. More »

Aramco says production has returned to pre-attack levels

Saudi Aramco says it’s currently pumping 9.9 MMbpd, the same as before the Sept. 14 attacks at Abqaiq, the world’s biggest oil-processing facility, and the field at Khurais. More »

Algeria passes new energy law, in snub to anti-OPEC protests

Algeria’s cabinet approved a new energy law aimed at boosting investment in the vital hydrocarbon sector, but which has become the latest target for demonstrators demanding the purging of the OPEC member’s old regime. More »

Cyberhawk expands with acquisition of Arum’s software development team

The additional developer workforce follows iHawk’s roadmap to increase productivity, expand direct client support and target new growth verticals relevant to asset and data visualization. More »

UAE and Belize sign bilateral economic cooperation agreement

The agreement covers various major sectors, including trade of commodities and services, energy and renewable energy, industry and mining, among others. More »

TECHNOR ITALSMEA celebrates its 50th anniversary

“In 50 years, the company has grown from a local supplier to a worldwide actor recognized in the Oil and Gas and Petrochemical fields," said Giorgio Consolaro, TECHNOR ITALSMEA managing director. More »

Somalia’s petroleum minister announces 15 new offshore licenses on offer

Eager to demonstrate to the world that Somalia is open for business, the minister said the country is currently on an international roadshow which will showcase the exploration opportunities available in its hydrocarbons sector. More »

Fugro completes deepwater AUV surveys for Shell in US Gulf of Mexico

The project required data collection over multiple deepwater lease blocks in the greater Perdido and Mars development areas to support clearance of potential environmental, engineering, geological and archaeological hazards ahead of planned drilling activities. More »

Kongsberg Digital to digitalize Shell’s Nyhamna gas facility in Norway

Kongsberg Digital signed an agreement to digitalize the Nyhamna facility, a gas processing and export hub for Ormen Lange and other fields connected to the Polarled pipeline. More »

Elizabeth Warren’s shale shutdown proposal adds risk for operators, investors

Concern on Wall Street has been rising along with Warren’s poll numbers, with sectors such as financials, health care and industrials as well as energy identified among those at risk from her policy proposals. More »

Abu Dhabi seeks to shift oil markets with its own crude benchmark

Abu Dhabi wants to create a benchmark for Middle Eastern crude that competes for customers in Asia with exports from America’s shale boom. If the new contract for Murban crude takes off, it could herald a fundamental shift in the way Gulf producers sell oil. More »

Norway’s outgoing oil regulator is upbeat over the industry’s future

The head of Norway’s oil regulator, who bows out after 12 years of pushing companies to squeeze out every possible barrel from projects, said she’s leaving an industry in good health despite a growing debate over its future. More »

Oil jumps above $60 as Iran tanker attack reignites Mideast risk

Oil jumped back above $60/bbl after reports of a missile strike on an Iranian tanker near the Saudi Arabian port city of Jeddah reignited fears over military escalation in the world’s most important crude-producing region. More »

Equinor to build wind farm to power oil platforms offshore Norway

Equinor made a final decision to invest in floating wind turbines to power offshore oil platforms off Norway after the government agreed to subsidize a large part of the cost. More »

Iran says tanker hit by missiles in Red Sea near Saudi Arabia

The Islamic Republic’s tanker company initially said the attacks probably came from Saudi Arabia, but later withdrew the claim. More »

LAGCOE keynote explores industry’s role in technical and social innovation

Kevin Krausert, president and CEO of Canada’s Beaver Drilling, opened Day Two of the LAGCOE 2019 conference, with the goal of helping the oil and gas industry maintain its long-standing role as a source of both technical and social innovation. More »

U.S. Ambassador hosts Angolan delegation to explore joint EandP opportunities

U.S. ambassador to Angola, the Hon. Nina Maria Fite, hosted a delegation of top Angolan oil and gas officials to explore opportunities for the two nations to collaborate on the next phases of Angolan energy development. More »

USGS estimates 214 Tcf of natural gas in Appalachian basin formations

“Watching our estimates for the Marcellus rise from 2 Tcf to 84 Tcf to 97 Tcf in under 20 years demonstrates the effects American ingenuity and new technology can have,” said USGS director Jim Reilly. More »

Shale wells are on the edge of profitability at current prices

U.S. shale oil plays are “riding the edge of profitability” at current prices and the industry faces a significant slowdown in fracking activity if crude falls below $50/bbl for a sustained period, according to BloombergNEF. More »

MAN Energy Solutions and KONGSBERG sign MoU for collaboration on common data infrastructure for maritime sector

Under the MoU, MAN Energy Solutions is set to investigate the possibility of using Kongsberg Digital’s data-infrastructure solution, Vessel Insight, to securely collect and transmit data using MAN Energy Solution’s digital platform, MAN CEON. More »

Siemens and Materials Solutions open new Innovation Center in U.S.

The center is the only one of its kind in the U.S. to offer a unique pairing of design with manufacturing, implementing robotics, rapid prototyping, scanning, digital tools and on-site metal additive manufacturing. More »

EIA forecasts lower crude oil prices despite tighter global liquid fuels balances

The U.S. Energy Information Administration (EIA) forecasts lower crude oil prices in the fourth quarter of 2019 and in 2020 despite tighter global balances. More »

Exxon awards $13 billion in Mozambique LNG contracts

Exxon Mobil awarded contracts worth about $13 billion to three companies including JGC Holdings Corp. to build a giant liquefied natural gas plant in northern Mozambique, the country’s oil and gas regulator said. More »

Halliburton cuts 650 jobs in the Rockies on shale drilling slump

Halliburton is reducing its workforce in the Rockies as the biggest oilfield service contractor to announce job cuts grapples with a protracted spending slump in the shale patch. More »

Nigeria demands $62 billion from oil majors for past profits

Nigeria is seeking to recover as much as $62 billion from international oil companies, using a 2018 Supreme Court ruling the state says enables it to increase its share of income from production-sharing contracts. More »

Ecuador declares force majeure on crude exports following protests

Protests in Ecuador over fuel prices have temporarily shut some oilfields, slowing the flow of crude and causing Petroecuador to shut a key pipeline. More »

Brazil says oil polluting its coast likely came from Venezuela

Brazil’s efforts to uncover the origin of oil washing up on more than 130 beaches along its pristine northeastern coastline are pointing to Venezuela as the likely culprit. More »

Chevron CEO Mike Wirth praises Texas, bemoans California home

Chevron may be based in California, but CEO Mike Wirth had little praise for the state as he lauded the Texas business environment during an event in Houston on Wednesday. More »

LAGCOE keynote speaker issues rallying call, to earn social license to operate

Kimberly McHugh, vice president of drilling and completions at Chevron, kicked off LAGCOE 2019 Wednesday morning in New Orleans with a reminder that, while the rumors of the demise of the oil industry are greatly exaggerated, companies must adapt to continue to meet the world’s evolving energy needs. More »

Maersk Supply Service awarded integrated solutions project in Brazil

Maersk Supply Service will provide an integrated mooring lines life extension solution for Shell’s FPSO Fluminense, including project management, engineering, interface management and offshore execution off the coast of Rio de Janeiro. More »

Forum’s new observation-class ROV completes sea trials

The vehicle is the first observation class ROV to utilize Forum’s Integrated Control Engine to bring greater functionality commonly only found in larger work-class vehicles. More »

Universal Subsea logs Gulf of Mexico well abandonment success

Universal Subsea's patent-pending Defender subsea isolation cap was successfully installed to the Bulleit subsea well, operated by Talos in the Gulf of Mexico at a water depth of 1,300 feet. More »

Weatherford wins multiyear contracts in Iraq

Weatherford International has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a multinational operator in one of the world's largest proven oil fields located in Iraq. More »

Halliburton wins license to run ExxonMobil’s open hole completion technique

Halliburton has been awarded an international license for ExxonMobil’s patented Non-Aqueous Fluid Gravel Packing (NAFPac) technique for gravel pack completions. More »

Continental Resources mulls sale of stake in its shale water unit

Continental Resources is exploring a sale of a non-controlling stake in its water-infrastructure business that could value the unit at $1 billion or more, according to people familiar with the matter. More »

Qatar pushing LNG expansion, even as global inventories grow

Shrugging off a global supply glut that’s left liquefied natural gas prices struggling to recover from a three-year low, the world’s biggest producer of the fuel said it’s on track to expand production. More »

China transferring crude between ships at sea to evade U.S. sanctions

Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies. More »

Exxon considering Malaysian offshore asset sale

Exxon Mobil is considering a sale of its offshore Malaysia upstream assets as part of U.S. energy giant’s divestiture program, according to people with knowledge of the matter. More »

Canadian oil and gas association questions federal parties on offshore policies

In the context of Noia’s Imagine the Potential campaign and data released through its industry economic impact report, Noia believes it is imperative for the political parties to provide information on how they will ensure the industry is able to reach its potential and provide significant benefits to all Newfoundlanders and Labradorians and Canadians. More »

Jersey Oil and Gas details Buchan’s "significant" resources

Jersey Oil and Gas PLC has revealed the findings of a new independent evaluation of its recently acquired Greater Buchan Area project in the North Sea. More »

Novatek eyes LNG cargo transfers should tanker sanctions last

Russia’s biggest liquefied natural gas producer expects to be able to mitigate any impact should U.S. sanctions on China prevent it from using a third of its fleet. More »

SNC-Lavalin secures operations, maintenance workforce contract for Shell-operated QGC venture

SNC-Lavalin has been awarded a three-year provision of operations and maintenance workforce contract from Shell Australia for its QGC upstream asset located in Queensland, Eastern Australia. More »

Santos reports flow test results from Dorado-3, offshore Western Australia

Santos has announced that the initial flow test of the Caley reservoir from the Dorado-3 appraisal well has confirmed the main oil pool in the field is capable of producing flowrates at the higher end of pre-drill expectations. More »

Maersk Supply Service brings second I-class vessel to Mexico

Maersk Supply Service has secured a 1.5-year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer. More »

Canadian heavy oil falls as Alberta crude-by-rail deal nears

Canadian heavy oil prices have weakened ahead of an anticipated announcement that Alberta will ease production limits in exchange for shipping more crude by rail. More »

Oil falls as U.S.-China tensions escalate before trade talks

Oil fell again, erasing earlier gains, as economic tensions between the U.S. and China flared ahead of talks aimed at resolving their long-running trade feud. More »

Exxon awards contract for Africa’s biggest-ever private project

Exxon Mobil Corp. awarded a JGC Corp.-led group a contract to develop its Mozambique liquefied natural-gas project, which is set to be the biggest-ever private investment in Africa. More »

Qatar seeks Exxon, Shell, other "big players" for gas expansion

Qatar has invited Exxon Mobil Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and other “big players” to submit bids to help expand its part of the world’s largest natural gas field, Energy Minister Saad Sherida Al-Kaabi said. More »

U.S. to offer 78 million Gulf of Mexico acres in 2020 lease sale

Lease Sale 254, scheduled to be livestreamed from New Orleans, will be the sixth offshore sale under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program. More »

Interra Resources spuds first Indonesian well

Interra Resources has started drilling its first onshore well in Kuala Pambuang (KP-1), southern Central Kalimantan, following the successful completion of feasibility and technical data studies. More »

Oil moves higher as market eyes trade talks later this week

Oil gained after its biggest weekly slump since July ahead of the resumption of U.S.-China trade talks that may sway a cloudy demand outlook. More »

Weatherford hosts Production 4.0 forum at its Enterprise Software Conference

Energy leaders from Amazon and Microsoft will join Production 4.0-driven oilfield operators, including Apache Corporation and Targa Resources, and management consulting firm McKinsey and Company, to discuss the role of digitalization in the near and long-term future of oil and gas production. More »

New Permian oil pipelines fail to deliver immediate export boost

Newly commissioned Permian basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia. More »

Johan Sverdrup startup revitalizes Norway’s offshore sector

Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to reach 440,000 bpd by next summer. More »

Exxon will approve Africa’s largest LNG project, says Mozambique

Mozambique’s government said Exxon Mobil will sign off on an initial investment decision for a liquefied natural gas project that could cost as much as $33 billion to build -- the biggest ever in Africa. More »

Petrofac to support Greater Buchan development

Petrofac has been awarded a contract to support the concept appraisal and selection phase of Jersey Oil and Gas’ (JOG) Greater Buchan Area development in the North Sea. More »

CNPC quits flagship Iran gas project amid U.S. sanctions

CNPC was the only international partner left in the project, after Total SA of France withdrew last year when U.S. President Donald Trump abandoned the 2015 nuclear accord and reimposed sanctions on Iran. More »

Oilpatch jobs are drying up in the Permian basin

Through August, Permian employment has grown at an annualized rate of 0.7%, far less than the 11.4% growth of the same period last year, the Dallas Fed said Wednesday in its latest monthly report. More »

OPEC is prepared to make deeper cuts if needed, Nigeria says

“Everybody agrees in OPEC that we need to stabilize the market. We cannot allow prices just to plummet,” Nigerian Minister of State for Petroleum Resources Timipre Sylva said. More »

BP’s new CEO will steer the company through a world wary of oil

In a world that’s increasingly wary of fossil fuels, BP’s newly appointed chief executive officer Bernard Looney will have to prove the company can keep up with the times. More »

Rick Perry to leave Trump administration by the end of the year

Energy Secretary Rick Perry has plans to resign from the Trump administration by the end of the year, according to two people familiar with the matter. More »

Shell awards gas export infrastructure contract offshore Aberdeen

The contract scope involves the engineering, procurement, construction, transportation and installation of a 30km gas export pipeline, a gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim FPSO. More »

Subsea 7 acquires 4Subsea

4Subsea will support Subsea 7 in delivering advanced digital solutions to customers within Life of Field and Field Development contracts and be a key contributor to the ongoing digital transformation of Subsea 7 business delivery. More »

BP awards Saipem Caspian contracts worth $145 million

Saipem, in consortium with Boshelf LLC and STAR GULF FZCO, has recently been awarded three new contracts by BP for the development of the Azeri-Chirag-Gunashli oil and gas field offshore Azerbaijan. More »

Texas RRC commissioners assess more than $300,000 in penalties

The Railroad Commission of Texas assessed $319,693 in fines involving 175 enforcement dockets against operators and businesses at the Commissioners' conference this week. More »

BP’s upstream chief Bernard Looney to take CEO role in early 2020

While the speed of the announcement is a surprise, Looney’s ascent to the top of the company follows a well-trodden path. Dudley’s two immediate predecessors also ran the upstream division before becoming CEO. More »

Assessment reveals significant oil and gas potential offshore Newfoundland

“In just 9% of our offshore, we have a combined resource potential of 52.2 Bbbl oil and 199.6 Tcf gas. We have over 650 leads and prospects identified to date, and $4 billion in recent exploration work commitments," said the Honorable Siobhan Coady, Canada's Minister of Natural Resources. More »

Dolphin Drilling lands semisub contract with Shell

Global contractor Dolphin Drilling has secured further work for its Borgland Dolphin semi-submersible drilling rig to start in early 2020. More »

Crude extends losses as global slowdown fans recessionary fears

Oil extended its longest losing streak in 10 months as a key measure of service-industry activity in the world’s biggest economy dropped, prompting investors to flee risky assets. More »

Equatorial Guinea launches 2020 investment agenda with the African Energy Chamber

Supported by the African Energy Chamber, the Year of Investment 2020 is an initiative of the Ministry of Mines and Hydrocarbons to pursue Equatorial Guinea's agenda of energy cooperation and investment, and see the signing of several energy deals in 2020. More »

Saudis raise pricing on Asian crude deliveries after attacks cut output

Saudi Arabia raised all pricing for November oil sales to Asia as refining margins rose and the country’s state oil producer pulled out the stops to maintain supply after aerial attacks briefly knocked out half its output last month. More »

Acknowledging demand risks, OPEC+ ministers maintain production strategy

“Of course, demand is affected by the status of the global economy, and the economy is slowing down,” Russian Energy Minister Alexander Novak said in Moscow. “There are no crisis events that call for an emergency meeting.” More »

Universal mCloud launches new 3D digital twin capabilities with first customer engagements

This solution enables mCloud to take advantage of high-precision 3D laser scanners to create digital replicas of facilities along with a suite of capabilities designed to use these 3D models to streamline field work, minimize facility downtime, and eliminate unnecessary field visits. More »

API adds proven talent to senior team

API announced the addition of Shannon DiBari, Rhonda Bentz, and Bianca Domally to the organization’s senior staff. More »

Angola publishes bid round rules for 10 frontier blocks

The nine blocks on offer in the Namibe basin include—11, 12, 13, 27, 28, 29, 41, 42 and 43. The single block on offer in the Benguela Basin is block 10. All are considered frontier and currently have no hydrocarbon production. More »

Oil extending losses after surprise U.S. stockpile increase

The U.S. benchmark crude has fallen about 16% from the peak reached on the first trading day after crippling aerial attacks damaged key Saudi Arabian oil installations. Speedy repairs by the Saudis dovetailed with signals of weakening global energy demand to undermine prices. More »

GEODynamics introduces Vapr portless perforating system

Vapr’s open architecture design allows engineering teams to plan and complete multi-stage plug and perf operations more safely, precisely, and cost-effectively. More »

Bentec wins Russian contract for seven 320t cluster slider drilling rigs

Bentec has signed a multi-million euro contract with the drilling division of INK-Service Group for the manufacture of seven latest-generation 320t cluster slider rigs. INK is the oilfield service unit of Russia’s Irkutsk Oil Company. More »

Rockwell Automation, Schlumberger form industry’s first integrated automation solutions provider

The joint venture leverages Schlumberger’s deep oil and gas domain knowledge and Rockwell Automation’s rich automation and information expertise to address this fast-growing market. More »

Weatherford strikes four-year safety valve deal with Petrobras

The Optimax deep-set safety valve protects against catastrophic loss of well control by providing fail-safe closures at pressure up to 10,000 psi and are rated for setting depths as deep as 12,000 ft. More »

CGG delivers 4D BP Angola survey ahead of schedule

Radwa El Zidan, geophysicist from the BP-Angola asset team, said “We were very impressed by the CGG team’s commitment to achieving an early delivery of the data on what was already a challenging schedule. The early delivery of results will accelerate our active reservoir management program for this field.” More »

Equinor chooses Saipem for industry-first autonomous subsea drone project

“It is very exciting to be a pioneer for this type of technology offshore. Enabling personnel to plan and perform operations from shore rather than being flown offshore, this pathbreaking technology will also reduce costs,“ says Olav A. Godø, operations manager, Njord. More »

Wärtsilä to apply hybrid power upgrades to Viking Neptun offshore construction vessel

Norway-based Eidesvik AS has contracted Wärtsilä to engineer, supply, and commission a hybrid propulsion system for its ‘Viking Neptun’ construction vessel. More »

Norway greenlights Valhall facility startup

“Valhall West Flank is an important measure for further exploitation of the resources in a mature field,” says Tove Francke, the NPD’s assistant director for development and operations, North Sea South. More »

EnerMech wins five-year LNG contract in Australia

EnerMech Australia has been awarded a five-year contract to provide specialist nitrogen and flange management services to a LNG facility in Central Queensland. More »

Ecuador quits OPEC, signals it’s ready for more EandP activity

For OPEC, the departure matters more in symbolism than barrels -- Ecuador stated clearly it wants to leave the group to boost oil revenues at a moment when the whole cartel is suffering from low prices. More »

After the Saudi attack, are Russia and Saudi Arabia still pumping too much oil?

This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s. More »

API president and CEO Mike Sommers touts energy’s $2 billion economic impact on New Mexico communities

American Petroleum Institute president and CEO Mike Sommers today met with New Mexico business leaders, school administrators, and local leaders, who highlighted the transformational role of safe and responsible energy development in the Permian basin on the state’s economy and local communities. More »

Conventional discoveries fall to lowest levels in 70 years, and a major rebound isn’t likely, says IHS Markit

The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014. More »

TechnipFMC awards Benthic geotechnical contract offshore Mozambique

Benthic has secured an offshore geotechnical and geophysical contract from TechnipFMC for the Golfinho development More »

Roan Resources enters $1 billion merger agreement with Citizen Energy, suspends completion activities

Roan Resources agreed to be acquired by CItizen Energy for $1.0 billion in cash, including funded net debt of $780 million. Following a management change, Roan will reduce drilling and development activity, and suspend all well completion activities. More »

Industry must remain productive while targeting zero emissions

There definitely is a lower-carbon model in the oil and gas industry’s future, agreed executive participants in the opening session of SPE’s 2019 Annual Technical Conference and Exhibition. More »

Schlumberger introduces at-bit steerable system for drilling horizontal wells in a single run

Developed as a fit-for-basin solution, NeoSteer ABSSs leverage digital technologies by combining the latest trajectory control algorithms, and machine-learning and data analytics to provide our customers improved planning and execution performance. More »

Proserv establishes two new, service-specific divisions

Proserv has established two separate divisions – namely Proserv Controls and Gilmore, a Proserv Company, which will sit under the umbrella of the parent company, Proserv Group, commonly known as Proserv. More »

Major Brazil offshore auction attracts global producer interest

The auction of drilling rights off the coast of Brazil planned for November, potentially offering more oil than all the proven reserves in Mexico, has attracted interest from some of the world’s largest producers. More »

Oil rebounds after worst quarter of 2019, while demand fears persist

Oil rose after its biggest quarterly slump of the year, yet ongoing concerns that a faltering global economy will erode demand continued to weigh on the market. More »

Subsea 7 chosen for BP Caspian Sea construction project

Subsea 7 announced today the award of two contracts by BP Exploration for the Azeri Central East project in the Azeri-Chirag-Deepwater Gunashli field in the Caspian Sea, in a water depth of approximately 140 meters. More »

Oceaneering tapped to decommission seven gas platforms offshore Canada

The decommissioning project comprises seven offshore gas platforms located approximately 135 nautical miles east of Halifax, Nova Scotia, Canada on the edge of the Scotian Shelf. More »

Polarcus secures XArray multi-client seismic project in Australia

The program will utilize Polarcus’ Xarray multi-source acquisition system, a hybrid combination of towed streamers and ocean-bottom nodes. More »

PTTEP taps Halliburton for digital transformation program

PTTEP, a national petroleum exploration and production company in Thailand, selected Halliburton Landmark’s Digital Well Program application to automate drilling, completions and engineering processes across the well lifecycle. More »