Packers Plus openhole stimulation system cuts completion time/costs in Argentina

Packers Plus Energy Services helped an operator stimulate a formation with an openhole multi-stage ball-drop system in Argentina's Loma La Lata field 30 times faster compared to a traditional plug-and-perf method. More »

Oil tumbles after EIA reports U.S. crude stockpile climb

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DandL Oil Tools passes API certification and license requirements

DandL Oil Tools’ quality management system has been granted API’s Q1 Certification and their packers and bridge plug products now possess API 11D1 Monogram licenses More »

Shell oil pipeline in Nigeria seen restarting in September

Royal Dutch Shell’s Forcados pipeline in Nigeria will resume deliveries in September, according to an oil company that uses the line. More »

Lucas Energy closes acquisition of Texas, Oklahoma acreage

Lucas Energy, an independent oil and gas company, has closed the acquisition of working interests in producing properties and undeveloped acreage in Texas and Oklahoma, including varied interests in two contiguous acreage blocks in the liquids-rich Mid-Continent region of the U.S., from Segundo Resources and other sellers. More »

Bell Geospace, Onyx Engineering awarded FTG contract by Petronas

Bell Geospace and Onyx Engineering have been awarded a contract by multinational EandP company Petronas. More »

Det norske discovers oil at Langfjellet prospect in North Sea

Det norske oljeselskap, operator of PL 442, has completed exploration well 25/2-18 S on the Langfjellet prospect in the North Sea. The well encountered a gross oil column of 109 m in the Vestland Group. More »

Aqualis Offshore names new head for Middle East operations

Aqualis Offshore, a marine and offshore engineering consultancy, has appointed Ben Lazenby as director of the company’s Middle East operation, which now counts five offices in four different countries. More »

Wood Group wins framework agreement with Wintershall Norge

Wood Group has been awarded a new frame agreement by Wintershall Norge to tender for provision of modification and maintenance services to assets on the Norwegian Continental Shelf (NCS). More »

Mystery of oil held on Chinese islands puzzles crude markets

BEIJING (Bloomberg) -- China’s got the world puzzling over its oil hoard. From underground caverns by the Yellow Sea to a scattering of islands in the Yangtze River delta, the government has been stockpiling crude for emergencies in a network of storage sites dotted around the country. More »

Saudi Arabia says it won’t flood oil market ahead of OPEC talks

Saudi Arabia, the world’s biggest oil exporter, won’t boost output to capacity and flood the market, the kingdom’s Energy Minister Khalid Al-Falih said weeks before OPEC meets to discuss ways to stabilize prices. More »

Deepwater woes eclipse shale upturn in Schlumberger’s dimmer view

Schlumberger is expecting the situation to get worse for its drilling business in the third quarter as further deterioration in deepwater work around the world overshadows an uptick in U.S. shale plays. More »

Statoil's Gullfaks Rimfaksdalen project on stream ahead of schedule

Gullfaks Rimfaksdalen (GRD) was scheduled for start-up on Christmas Eve this year, but the project has worked faster and now the field is on stream and at lower costs than planned. More »

Statoil's Gullfaks project on stream ahead of schedule

Gullfaks Rimfaksdalen (GRD) was scheduled for start-up on Christmas Eve this year, but the project has worked faster and now the field is on stream and at lower costs than planned. More »

Investment offshore Norway cut by $50 billion, Wood Mac says

Wood Mackenzie has cut $50 billion from its forecast for 2016-2020 capital investment in Norway. This is based on over 10 projects being deferred or scrapped to cut costs, according to the company’s latest study on the future of projects on the Norwegian Continental Shelf. More »

Iraq agrees with Kurds to begin talks on oil revenue dispute

Iraq’s prime minister agreed with the semi-autonomous Kurdistan Regional Government to start talks about crude output in northern regions that have been bypassing the central government to export oil. More »

Oil trades below $47/bbl ahead of U.S. inventory report

Oil dropped below $47/bbl before data forecast to show that gasoline stockpiles declined while crude inventories increased in the U.S., the world’s largest oil consumer. More »

Statoil and Petrobras strengthen strategic partnership in Brazil

Statoil and Petrobras took a step forward in strengthening their cooperation in Brazil by signing a Memorandum of Understanding (MoU). More »

GE unlocks innovation in subsea compression and power for Shell’s Ormen Lange Pilot

Following an extensive, multi-year test program of Shell’s Ormen Lange Pilot, GE Oil and Gas is proud to announce that A/S Norske Shell has successfully completed system testing of the world’s first subsea gas compression system with a full subsea power supply, transmission and distribution system that further advances the development of hydrocarbon processing on the seabed. More »

Global Maritime completes Njord A disconnection and tow to shore

Global Maritime Consultancy and Engineering has successfully led the disconnection and towing operations of the Njord A semisubmersible floating production platform from Njord field. More »

Shell says while gas is the future, it won’t be traded like oil

Natural gas is rapidly becoming one of the most traded global commodities, but that doesn’t mean it will have a global price, according to Royal Dutch Shell Plc. More »

Iran to seek investor bids in October with new oil contracts

Iran will invite international oil companies to submit bids in October under the long-awaited new contract model for energy investors, as the OPEC producer seeks billions of dollars to boost output after years of international sanctions. More »

AGR awarded frame agreement with Det norske

OSLO, Norway -- AGR has entered into a frame agreement with Det norske oljeselskap for annual, independent reviews of the company’s reserves portfolio. More »

Verisk Analytics acquires Quest Offshore’s data, subscriptions business

Quest Offshore Resources has sold its data and subscriptions business to Verisk Analytics, a data analytics provider. More »

CGG, GOSCO announce JV for seismic services offshore Ghana

CGG has signed an agreement with GNPC Operating Services Company (GOSCO), an independent Ghanaian EandP services company, to form a joint-venture company dedicated to conducting high-end 2D, 3D and 4D marine seismic acquisition and related services in the territorial waters of the Republic of Ghana. More »

Norway awards IOR prize to Åsgard licensees for subsea gas compressor

The Norwegian Petroleum Directorate (NPD) has awarded its improved oil recovery (IOR) prize for 2016 to the licensees of Åsgard field, in the Norwegian Sea, for their subsea wet gas compressor. The compressor will yield an additional 306 MMboe and extend the field’s life to 2032. More »

Wood Group secures engineering framework agreement with DONG Energy

Wood Group has been awarded a new engineering services framework agreement by DONG Energy, to support their oil and gas assets across the Danish, Norwegian and UK continental shelves. More »

Oil companies seen investing $8 billion to start Uganda output

Uganda expects three oil companies to invest $8 billion in the East African nation before they start producing oil in 2020, Energy Minister Irene Muloni said. More »

Oil discoveries at 70-year low signal supply shortfall ahead

Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears about their ability to meet future demand. More »

Shell divests Gulf of Mexico assets for $425 million

Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100% of its interest in Gulf of Mexico Green Canyon blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corp., through its affiliate EnVen Energy Ventures, LLC. More »

Shell divests Gulf of Mexico assets for $425 million plus royalty interests

Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100% of its interest in Gulf of Mexico Green Canyon blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corp., through its affiliate EnVen Energy Ventures, LLC. More »

Operators in Colorado dodge $10 billion-a-year threat to output

Oil and natural gas explorers from Anadarko Petroleum Corp. to Synergy Resources Corp. have escaped a vote in Colorado that would’ve limited drilling and threatened to halt about $10 billion worth of oil and natural gas production a year. More »

Oil executives see volatility as market starts to rebalance

Crude markets will continue to be plagued by volatility in the short and medium term after suffering the biggest downturn in a generation over the past two years, according to oil-company executives gathering for one of the industry’s biggest conferences in Norway. More »

Development costs on the Norwegian shelf cut by nearly half

The price tag for developing a field on the Norwegian shelf has declined by an average of more than 40% since the autumn of 2014, according to the Norwegian Petroleum Directorate's (NPD) analysis of eight planned developments that are approaching start-up. More »

Oil resumes decline amid doubts of market-stabilization deal

Oil declined amid doubts that producers will agree on a deal to stabilize the market when global suppliers meet next month for informal talks. More »

Rosneft CEO said to pitch $16-billion double deal to sway Putin

Rosneft PJSC chief Igor Sechin has come up with a proposal to expand his energy empire while helping critics in the Russian government meet their goal of reducing the widest budget deficit in six years. More »

Keppel to deliver Bumi Armada’s first North Sea FPSO

Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore and Marine (Keppel OandM), is on track to deliver a floating production storage and offloading (FPSO) vessel to Armada Kraken Pte Ltd, a wholly owned subsidiary of Bumi Armada Berhad. More »

Oil pessimists exit as OPEC cap talk spurs bets glut easing

Oil investors are turning the car around. For a second week, money managers slashed bets on falling prices by a record and boosted wagers on a rally. More »

Industry must do business differently to meet sustainability targets, DNV GL says

Pressure is mounting on the oil and gas industry to reduce its environmental footprint at the same time as the industry is under significant cost pressure. Since business as usual is not an option, DNV GL has launched two papers to advise the industry on how and where to make impactful changes within financial constraints. More »

CGG launches solution for imaging shallow reservoirs

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Wood Group secures subsea tie-back detailed design scope with Statoil

Wood Group has been awarded the detailed design scope of the subsea tie-back from Utgard gas and condensate field to the Sleipner facilities, in the Norwegian North Sea. More »

GustoMSC introduces new harsh environment semisubmersible series

GustoMSC has launched a new harsh environment semisubmersible series—the OCEAN-HE. More »

Wood Group secures subsea tieback detailed design scope with Statoil

Wood Group has been awarded the detailed design scope of the subsea tie-back from Utgard gas and condensate field to the Sleipner facilities, in the Norwegian North Sea. More »

Iran oil-market share grab seen dimming prospect for production freeze

Iran’s plan to keep boosting crude production until it regains its OPEC market share is dimming prospects of collective action by major producers to freeze output, according to Patrick Allman-Ward, CEO of Dana Gas PJSC. More »

Statoil trims $2.9 billion off Johan Sverdrup cost as output boosted

Statoil lowered development costs for the start-up at its giant Johan Sverdrup oil field by $2.9 billion and raised the estimated initial output by 16% after intensifying drilling and streamlining operations. More »

If you're betting on an OPEC freeze, don't ignore Iraq: Column

When the OPEC nations last met with Russia to agree an output freeze, back in April, it was Saudi Arabia that shot down the deal -- refusing to take part without Iran. More »

Jones Energy completes Anadarko basin acquisition

Jones Energy, Inc., today announced the closing of its previously announced acquisition of producing and undeveloped oil and gas assets in the Anadarko basin. More »

Saudi Aramco says operating as normal after Yemeni attack report

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Potential rebound to $100 crude could hurt oil industry, Lundin says

Crude could return to $100/bbl because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp. More »

Lucas Energy enters into agreement to fund development of Eagle Ford shale assets

Lucas Energy, Inc., has announced that its wholly-owned subsidiary, CATI Operating, LLC, entered into an agreement with its senior lender, as evidenced by a promissory note, to borrow $1 million, effective August 15, 2016. The company plans to use the funds to participate in the drilling and completion of certain Eagle Ford wells. More »

Look past OPEC freeze hype to understand oil’s advance

For all the feverish speculation of OPEC action that’s roiling oil markets, the real reason for crude’s recent recovery probably lies elsewhere. More »

RigNet wins multi-year managed services renewal, including Software as a Service

RigNet has renewed a contract to provide remote communication services and Software as a Service (SaaS) for a global offshore driller’s entire marketable fleet. More »

EMGS reports prefunding for multi-client acquisition in Barents Sea

Electromagnetic Geoservices (EMGS) has entered into a data licensing agreement with a repeat customer for 3D EM data to be acquired over the Hoop area in the Barents Sea. More »

New partnership challenges coal seam gas water reduction methods

Zilift, a developer of permanent magnet technologies for artificial lift applications, has signed an agreement with Auscoil, an oilfield services solutions provider for the Australian Coal Seam Gas (CSG) industry. More »

VAALCO resumes production at Avouma well offshore Gabon

VAALCO Energy said Thursday that the secondary ESP in the Avouma 2-H well on the Avouma platform, offshore Gabon, in the Etame Marin Permit, was recently started and the well is now producing at a stable rate. More »

China’s biggest oil company aims for 50% natural gas by 2020

China’s biggest oil company wants natural gas to account for half its output by the end of the decade. More »

MandAs are back as oil industry shifts from survival to growth

Multi-billion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said. More »

Jetta, Blackstone eye Delaware basin acquisitions with pure-play partnership

Blackstone has announced the formation of Jetta Permian, a partnership between an affiliate of Jetta Operating Company and funds managed by Blackstone Energy Partners. More »

Guidon Energy, Blackstone partner in Permian basin land grab

Guidon Energy and Blackstone Energy Partners have announced their recently formed platform company in the Midland basin and the acquisition, in April of this year, of approximately 22,000 gross acres (16,000 net acres) in the core of Martin County, Texas. More »

Blackstone unleashes cash hoard in Texas land grab

Blackstone Group is partnering with two oil and gas companies as it targets assets in the sought-after Permian basin. More »

Saudi oil minister sees output freeze as ‘positive’

Saudi Arabia’s energy minister said an oil-output freeze would be "positive" if it happens, while ruling out a cut in production. More »

Mærsk Gallant drills to record depths on Norwegian shelf

With a total depth of 5,941 m, Mærsk Gallant has beaten the record for deepest well ever drilled on the Norwegian continental shelf. More »

Key Energy Services plans bankruptcy filing after reaching debt pact

Key Energy Services plans to file for bankruptcy protection by November after its creditors sign off on a restructuring plan that would give bondholders control of the Texas company. More »

Israel announces first offshore energy exploration licensing round, IHS Markit says

The Israeli Ministry of Infrastructures, Energy and Water Resources (MIEWR), the government agency responsible for overseeing all petroleum-related activities in Israel, plans to host a road show in September 2016 for promotion of the country’s first offshore energy licensing round, IHS Energy said today. More »

Iraq seeks formal deal with Kurds to protect new oil exports

Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped up its export capacity by 5% almost overnight. More »

Iran’s oil minister will join OPEC talks on market in Algeria

Iran’s Oil Minister Bijan Namdar Zanganeh will participate in an informal meeting of OPEC members next month in Algiers, a state news service reported. More »

Statoil secures lifetime extension for Gullfaks B

The Norwegian Petroleum Directorate (NPD) has given the go-ahead for using the B platform on Gullfaks field in the North Sea until Jan. 1, 2036, which corresponds to the length of the production license. More »

Lower for longer oil price outlook drives global change in tax structures: EY

A lower for longer oil price consensus is pushing more governments to rethink current tax structures and follow the example of those who have already made adjustments, EY said while launching its 2016 Global oil and gas tax guide. More »

China oil giants unmoved by bull rally after worst earnings

After posting their worst-ever half-year results, two of China’s oil giants aren’t getting carried away by crude’s return to a bull market, forecasting a rocky path ahead. More »

Saudi Arabia holds China market share lead on record oil output

Saudi Arabia kept its spot as China’s biggest oil supplier for the first seven months this year after pumping record output in July, even as Russia threatens to overtake the kingdom in their contest for sales to the world’s largest energy consumer. More »

Hansa Heavy Lift transports giant pipe racks for new FPSO

Hansa Heavy Lift has transported five pipe racks and three modules, weighing a total of 1,871.51 metric tonnes and measuring 24,075 m³, for a new floating production storage and offloading (FPSO) unit off the coast of Brazil. More »

Fram C East satellite starts production to Troll C platform

Statoil has started production from the Fram C East satellite development offshore Norway. The development is targeting recoverable resources estimated at 18.2 MMbbl of oil and 1.6 Bcm of gas. More »

Fram C East starts production to Troll C platform, Statoil says

Statoil has started production from the Fram C East satellite development offshore Norway. The development is targeting recoverable resources estimated at 18.2 MMbbl of oil and 1.6 Bcm of gas. More »

Seadrill profit beats estimates as debt restructuring looms

Seadrill, the offshore drilling company controlled by billionaire John Fredriksen, beat earnings estimates after slashing costs while continuing talks with creditors. More »

CEO of legendary trader Phibro recommends shorting crude at $50

It’s almost time to short this year’s crude rally, according to the new CEO of Phibro LLC, the century-old commodities firm that was once the largest independent oil refiner in the U.S. More »

Sanchez Energy said to seek buyers for part of Eagle Ford acreage

Sanchez Energy Corp. is seeking buyers for some of its acreage in the Eagle Ford shale in south Texas, according to people familiar with the matter, as the explorer looks to raise cash for developing its best prospects. More »

West Orphan basin, offshore NL, holds 25.5 Bbbl of oil and 20.6 Tcfg, study finds

The government of Newfoundland and Labrador, Nalcor Energy and Beicip-Franlab announced Wednesday that the in place oil and gas resource potential is 25.5 Bbbl of oil and 20.6 Tcfg in the West Orphan basin located within the area of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland Call for Bids. More »

Gulf of Mexico Lease Sale 248 yields just $18 million in high bids

NEW ORLEANS, Louisiana – The U.S. Bureau of Ocean Energy Management (BOEM) said Wednesday that Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area. More »

Oil extends decline as EIA report shows inventory increase

Oil extended its decline after a government report showed that U.S. crude stockpiles unexpectedly rose last week. More »

Oil drops as industry data signal U.S. crude stockpiles rising

Oil resumed its drop after industry data showed U.S. stockpiles rose, keeping inventories at the highest seasonal level in at least 30 years as peak summer demand in the world’s largest consumer of the fuel nears its end. More »

Blackeagle Energy Services acquires Brazos Rock's Permian basin assets

Blackeagle Energy Services, a provider of energy-related construction and maintenance services, has acquired certain Permian basin assets from Brazos Rock, Inc., a provider of oilfield construction services in Texas. More »

RasGas delivers first LNG to FSRU Toscana offshore Italy

RasGas has shipped its first LNG cargo to the floating storage regasification unit (FSRU) Toscana, located offshore Italy. More »

Sparrows Group, SapuraKencana Petroleum to form partnership in Malaysia

Sparrows Group is set to expand its presence in the Asian Pacific market following the formation of a partnership between Sparrows Offshore Services Pte Ltd and SapuraKencana Technology Sdn Bhd, the latter being a wholly owned subsidiary of SapuraKencana Petroleum Berhad. More »

Claxton completes well abandonment of Horne and Wren platform for Tullow

Claxton, an Acteon company, has completed its involvement in the abandonment of two wells on the Horne and Wren platform in the Southern North Sea. More »

Iran says it hasn’t decided on attending OPEC talks in Algiers

TEHRAN (Bloomberg) -- Iran says it still hasn’t decided whether it will attend informal OPEC talks in Algiers next month, two weeks after the group announced plans to meet. More »

Shale land grab tops mergers as buyers await better oil outlook

The buyer’s market that the battered U.S. shale patch has become is so far luring more land purchases than takeovers as investors await a more solid crude price rebound before making bigger moves. More »

OPEC chief said to visit Iran and Qatar before group’s talks

OPEC’s secretary-general will visit members Iran and Qatar next month, just weeks before the group holds informal talks in Algeria, according to a person with direct knowledge of the matter. More »

PDC Energy enters Delaware basin with $1.5-billion acquisition

PDC Energy has entered into definitive agreements to acquire two privately held companies managed by Kimmeridge Energy Management Company for approximately $1.5 billion. More »

Transocean Winner refloated and under tow after running aground

The Transocean Winner drilling rig that ran aground in bad weather on the Isle of Lewis nearly two weeks ago has been successfully refloated and stabilized, and is now under tow to safer waters. More »

U.S. Silica completes acquisition of Sandbox Enterprises

U.S. Silica Holdings, Inc., has announced that it has completed the acquisition of Sandbox Enterprises LLC, a leading provider of innovative logistics solutions and technology for the transportation of proppant. More »

Transocean Winner drilling rig refloated and under tow after running aground

The Transocean Winner drilling rig that ran aground in bad weather on the Isle of Lewis nearly two weeks ago has been successfully refloated and stabilized, and is now under tow to safer waters. More »

Anadarko announces leadership changes

Anadarko Petroleum Corporation has announced that Darrell Hollek, formerly executive V.P., U.S. onshore EandP, has been named executive V.P., operations, with responsibility for the company's U.S. onshore exploration, production and midstream activities, along with its Gulf of Mexico and international operations. The company also announced Ernie Leyendecker, formerly senior V.P., international exploration, has been named executive V.P., international and deepwater exploration. More »

Packers Plus optimizes offshore multi-stage completion for Dubai Petroleum Establishment

Packers Plus Energy Services Inc. has announced that it has recently worked with operator Dubai Petroleum Establishment to install and successfully stimulate an offshore carbonate reservoir using an open hole multi-stage ball-drop system. More »

Stone Energy in talks to sell Appalachian assets to cut debt

Stone Energy Corp., an oil and natural gas producer that’s been in debt restructuring talks with note holders, said it’s negotiating to sell its Appalachian assets in a deal that could fetch $350 million. More »

Iran set to grant two key oil deals to CNPC, Sinopec

Iran plans to grant the development of two major oil fields to CNPC and Sinopec, according to a statement by the National Iranian Oil Company (NIOC). More »

Iran to grant key oil deals to CNPC, Sinopec

Iran plans to grant the development of two major oil fields to CNPC and Sinopec, according to a statement by the National Iranian Oil Company (NIOC). More »

Oil reverses drop on report Iran may support OPEC output action

Oil rose, reversing an earlier decline, on speculation Iran may be more willing to cooperate with other producers seeking to freeze output. More »

Statoil eyes drilling as it takes over operatorship of UK license P.2170

Statoil has signed a Sales and Purchase Agreement with Jersey Oil and Gas and CIECO Exploration and Production (UK) Limited to acquire 70% ownership and operatorship of the P.2170 license on the UK Continental Shelf (UKCS). More »

OFS Portal accelerates eCommerce growth with more operator agreements

OFS Portal has surpassed its 250th Operator Agreement. White Rock Oil and Gas, Lime Rock Resources Operating Company, MRC Global (US), RSP Permian, Memorial Production Operating, and Fleur de Lis Energy each signed the OFS Portal Electronic Data Agreement, increasing the number of operators in the community to 256. Petrobids became the 33rd approved network in the OFS Portal community by signing the RFx agreement. More »

Maersk Supply Service sells two vessels

Maersk Supply Service has sold two vessels, Maersk Puncher and Maersk Provider, as part of the company’s recently announced divestment plans. More »

Iraq looks to boost oil output before OPEC talks in Algeria

Iraq asked international oil companies to boost output just as other OPEC nations are heading for talks amid a global glut. More »

Pemex cancels contract for Seadrill’s West Pegasus semisubmersible

Seadrill has received a notice of termination from Pemex Exploracion y Servicios for the West Pegasus drilling contract effective Aug. 16. Seadrill has disputed the grounds for termination and is reviewing its legal options, the company said in a statement announcing the cancellation. More »

Cathelco to supply MGPS for Lamprell’s latest jackup

Cathelco will be providing a marine growth prevention system (MGPS) for the latest in a series of jackup rigs to be built by Lamprell, the UAE-based provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy industries. More »

Peak to test SIMULTRA retrievable bridge plug at 10,000 psi, 175°C

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has been commissioned by an international oil company to undertake gas testing of both the 4 ½-in. and 5 ½-in. SIMULTRA Retrievable Bridge Plug at a 10,000 psi and 175°C specification. More »

Peak Well Systems to test SIMULTRA Retrievable Bridge Plug at 10,000psi, 175°C

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has been commissioned by an international oil company to undertake gas testing of both the 4 ½-in. and 5 ½-in. SIMULTRA Retrievable Bridge Plug at a 10,000 psi and 175°C specification. More »

AGR names new lead for UK consultancy business

AGR has appointed Steve Combe to manage its Aberdeen-based manpower consultancy business. More »

GE to support ONGC’s exploratory campaign offshore India

GE Oil and Gas has been awarded a multi-million-dollar Frame Agreement by Oil and Natural Gas Corporation Limited (ONGC), India’s largest EandP company. Under the agreement, GE will provide an estimated 55 subsea wellheads (SG5) over next three years for the operator’s offshore drilling campaign, in shallow to medium waters offshore India. More »

Oil Search says second PNG greenfield project may not proceed

Oil Search Ltd. said development of a second standalone LNG export terminal in Papua New Guinea is unlikely with Exxon Mobil Corp. and Total SA expected to favor cooperation to expand the existing PNG LNG project. More »

Goldman sees possible OPEC output freeze as self-defeating

OPEC and some producers from outside the group may agree to freeze output during informal talks next month, which could prove “self-defeating” because it would benefit other suppliers, according to Goldman Sachs Group Inc. More »

Oil ends longest gain in 4 years on Nigeria, Iraq supply boost

Oil retreated, halting the longest run of gains in four years as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities. More »

ROVOP to create new jobs as a result of GoM business growth

Independent ROV service provider ROVOP is set to increase its Houston workforce as a result of further business growth including recent contract wins in the Gulf of Mexico region. More »

Pemex cancels contract for Seadrill’s West Pegasus jackup

Seadrill has received a notice of termination from Pemex Exploracion y Servicios for the West Pegasus drilling contract effective Aug. 16. Seadrill has disputed the grounds for termination and is reviewing its legal options, the company said in a statement announcing the cancellation. More »

Add Energy launches new advisory service

Add Energy, an international oil and gas upstream consultancy provider, has expanded its operations with the launch of a new advisory service, ADDvisor. More »

2016 on pace for worst EandP year since Great Depression, but improvement seen

According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the U.S. this year, on par with the years 1930-1934, when not a single year topped 20,000 wells drilled. In fact, this will be lowest total since 11,700 wells were drilled in 1933. More »

Zenith Energy completes first offshore abandonment project

An Aberdeen based well management firm has successfully completed the plug and abandonment of a platform well located offshore Italy. More »

Marathon Oil announces leadership shake-up

Marathon Oil Corporation has promoted T. Mitch Little to executive V.P., Operations. In this new role, Little will oversee the company’s Resource Play and Conventional businesses. More »

Marathon Oil in leadership shake-up

Marathon Oil Corporation has promoted T. Mitch Little to executive V.P., Operations. In this new role, Little will oversee the company’s Resource Play and Conventional businesses. More »

Petronas posts 96% quarterly profit decline on lower oil prices

Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96% last quarter after it was hit by oil prices that remained sharply lower than a year earlier. More »

Iraq will boost oil exports after agreement on Kirkuk fields

Iraq, OPEC’s second-biggest producer, will increase crude exports by about 5% in the next few days after an agreement to resume shipments from three oil fields in Kirkuk. More »

‘Well-timed’ OPEC talk forces oil bears into record reversal

OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50/bbl and prompted money managers to cut bets on falling prices by the most ever. More »

Saudi crude, refined-product exports hit seasonal record

Saudi Arabia raised its combined crude oil and refined-product exports to 8.83 MMbpd in June, the highest on record for that month and the latest sign of the expansion of the kingdom’s share of global markets. More »

Permian adds yet more rigs as oil finds bull market

Shale drillers are adding the most oil rigs since crude was worth $100/bbl as confidence that OPEC may finally agree to freeze output pushed futures into a bull market. More »

Jones Energy announces STACK/SCOOP acquisition

AUSTIN, Texas -- Jones Energy has announced the signing of a definitive purchase and sale agreement to acquire approximately 18,000 net acres primarily in southern Canadian and northern Grady Counties in Oklahoma for $136.5 million. More »

Pemex woes snowball as cash crunch deepens production plunge

Petroleos Mexicanos’ deteriorating finances are poised to get much worse, signaling no end in sight to years of declining oil production. More »

Woodside sees lower LNG prices as buyers push contract changes

Woodside Petroleum Ltd. expects lower LNG prices as it renegotiates short-term contracts and says buyers across Asia will increasingly resist deals that restrict the reselling of the super-cooled fuel. More »

Statoil submits PDO for Byrding discovery in North Sea

Statoil and its partners have submitted the Plan for Development and Operation for the Byrding oil and gas discovery in the North Sea. More »

Maersk Drilling names newest jackup in Scotland

Lady Sponsor Gretchen H. Watkins, COO at Maersk Oil, has named Maersk Drilling’s newest asset at a ceremony in Invergordon, Scotland. The Maersk Highlander, a harsh environment jackup rig, is now ready for work. More »

BSEE releases new oil spill response calculators

The U.S. Bureau of Safety and Environmental Enforcement (BSEE) has released four new oil spill response calculators as part of an ongoing effort to improve future clean-up efforts. More »

New report confirms pipelines are one of the safest ways to transport energy

API has released a new report, with the Association of Oil Pipe Lines (AOPL), confirming that pipelines continue to be one of the safest ways to efficiently transport energy across the U.S. The report highlights liquid pipeline safety performance and industry-wide efforts to improve pipeline safety in 2016 and beyond. More »

Exxon, Chevron, Hess said to be in joint bid for Mexican oil

Exxon Mobil Corp., Chevron Corp. and Hess Corp. have agreed to bid together for rights to drill for crude in Mexico’s deepwater oil areas, according to a person with direct knowledge of the plans. More »

North Sea oil prices rebound as glut of floating crude clears

The glut of crude oil stored in ships on the North Sea is finally starting to dissipate. More »

OPEC freeze wouldn’t be so potent as Gulf rivals pump more

Even if OPEC strikes a deal with Russia next month in Algiers to freeze oil production, success will mean a lot less than when they tried and failed four months ago. More »

Saudi crude and refined-product exports hit seasonal record

Saudi Arabia raised its combined crude oil and refined-product exports to 8.83 MMbpd in June, the highest on record for that month and the latest sign of the expansion of the kingdom’s share of global markets. More »

Cobalt jumps most since 2012 on talk of buyout, Angola sale

Offshore oil explorer Cobalt International Energy Inc. jumped the most in four years after an analyst upgraded the stock and said it could be a takeover target for bigger drillers. More »

Crude oil disruptions in Nigeria increase as a result of militant attacks

Crude oil production disruptions in Nigeria reached 750,000 bpd in May 2016, the highest level since at least January 2009. More »

Cooper Energy recommences drilling with Callawonga-12 in South Australia

Cooper Energy Limited has announced the recommencement of drilling by the PEL 92 joint venture with the spudding of Callawonga-12, an oil development and appraisal well located in PPL 220 on the western flank of the Cooper basin, South Australia. More »

Nigeria oil militants say not ready to negotiate with government

Nigeria’s Niger Delta Avengers militants, who have claimed repeated attacks on oil and gas pipelines sending the country’s crude output plunging, said Wednesday they were not ready to negotiate with the government. More »

SPIE and Sparrows Group collaborate to support Africa's energy sector

Sparrows Group and SPIE Oil and Gas Services have strengthened their existing service portfolios by signing a global agreement to work in collaboration to support the energy sector. More »

Maersk Supply Service to reduce vessel fleet and adjust crew staff

Maersk Supply Service will reduce its fleet by up to 20 vessels over the next 18 months. The divestment plan is a response to vessels in lay-up, limited trading opportunities and the global over-supply of offshore supply ships. More »

Continental Resources to sell non-strategic assets in North Dakota, Montana

Continental Resources has signed a definitive purchase and sale agreement with an undisclosed buyer to sell non-strategic properties in North Dakota and Montana for $222 million. More »

Continental Resources to sell non-strategic assets in North Dakota, Montana for $222 million

Continental Resources has signed a definitive purchase and sale agreement with an undisclosed buyer to sell non-strategic properties in North Dakota and Montana for $222 million. More »

Tullow reports first oil from Ghana’s TEN development

Tullow Oil has announced first oil from the Tweneboa, Enyenra, Ntomme (TEN) fields offshore Ghana, to the FPSO Prof. John Evans Atta Mills. More »

DNO drilling new Tawke wells on back of profitable second quarter

DNO ASA has announced a second consecutive quarter of operating profits and the launch of an aggressive drilling campaign at the company's flagship Tawke field in the Kurdistan region of Iraq. More »

Premier Oil lifts output estimate as talks with lenders continue

Premier Oil raised its production estimate for the year as the oil explorer with operations in the North Sea said it’s still in negotiations with lenders to refinance its debt. More »

BP to Halliburton in ‘barroom brawl’ as drillers slash costs

Mad Dog, BP Plc’s drilling project deep in the Gulf of Mexico, could be Exhibit A in the oil industry’s war on cost. More »

U.S. Silica completes acquisition of NBR Sand

U.S. Silica Holdings has completed the acquisition of the NBR Sand unit of New Birmingham, Inc., a regional sand mining company based in Tyler, Texas. More »

The 100,000-bbl oil output increase that didn’t really happen

U.S. crude oil production is holding up better than the government previously thought. More »

Independent Oil and Gas reports successful Skipper appraisal well

Independent Oil and Gas (IOG) provided an update on the drilling of the appraisal well on the Skipper oil discovery, which lies in Block 9/21a in license P1609 in the North Sea, of which IOG is 100% owner and operator. More »

Australia LNG export boom nips Santos amid gas pinch at home

After spending billions of dollars constructing a world-class LNG export project in Australia, Santos Ltd. has found itself short of gas. More »

Lloyd’s Register strengthens vessel and rig inspection service

Inspectors of Lloyd’s Register are optimizing inspection regimes thanks to their accredited status, using the OVID web based inspection tool to reference inspection reports. More »

Drilling contract awarded to Frigstad Shekou drilling rig

A drilling contract has been awarded to the Frigstad Shekou, which is the first of two ultra deepwater semisubmersible drilling rigs, which were ordered by Frigstad Deepwater Ltd in December 2012. More »

Siccar Point Energy acquires interest in the Greater Mariner Area

Siccar Point Energy, a joint venture owned by Blue Water Energy and funds managed by Blackstone Energy Partners, announced the acquisition of an 8.9% interest in the Greater Mariner Area from JX Nippon Exploration and Production (UK) Limited. More »

Oil gives pause to Kazakhstan's wealth fund on asset sales

The crash in crude prices may have nudged Kazakhstan toward its biggest wave of privatization in history, but its wealth fund is now willing to bide its time for a recovery in oil to take hold. More »

Statoil steps up climate change efforts on the NCS towards 2030

The petroleum industry, under the direction of the Norwegian Oil and Gas Association, today announced its ambition to implement CO2 reduction measures corresponding to 2.5 MMt on the Norwegian continental shelf (NCS) by 2030 compared with 2020. More »

Oil falls from five-week high amid sustained U.S. fuel glut

Oil slipped from the highest closing price in five weeks as industry data showed U.S. gasoline stockpiles expanded, keeping supplies at the highest seasonal level in more than two decades. More »

Tight gas production ramps up in Argentina's Neuquén basin, Wood Mac says

Operators in Argentina are focusing on reversing the Neuquén basin's gas production decline by targeting low-permeability, tight gas reservoirs. The shift to tight gas production over the last three years is being driven by pricing incentives and lower costs versus shale gas wells. More »

Delek Drilling, Avner to sell Karish and Tanin fields to Energean

Delek Drilling and Avner Oil Exploration, part of Israel's leading integrated energy company, have signed a deal for the sale of 100% of their holdings in Karish and Tanin natural gas fields to Energean Oil and Gas. More »

OPEC’s former head says conditions are right for oil-freeze deal

OPEC is on course to strike an output-freeze deal with fellow oil producers in Algiers next month because its biggest members are already pumping flat-out, the group’s former president said. More »

U.S. oil spreads across the world after export ban lifted

U.S. crude oil is reaching all corners of the world, after a 40-year ban on exports was lifted at the end of last year. More »

Saudi Arabia keeps BHP's shale oil in the ground...for now: Column

Amid the back-and-forth about just what Saudi Arabia is doing in the oil market comes a message from BHP Billiton: Whatever it is, it's working. More »

Russia shelves $5-billion deal as asset sales hit snag

Russia is delaying what would have been its biggest asset sale in a decade, after plans were upended by renewed weakness in global oil markets and as two of the nation’s biggest crude producers expressed interest in the offering of shares in Bashneft PJSC. More »

Gas glut upends global trade flows as buyers find leverage

The market for LNG is about to attract more players and more trading as new supply from the U.S. and Australia strengthens buyers’ bargaining power. More »

Liberty Oilfield Services’ new frac fleet cuts noise emissions

Liberty Oilfield Services, a privately held pressure pumping services company, has announced the release of its new Quiet Fleet. More »

GE Oil and Gas awarded field decommissioning contract for project offshore Indonesia

GE Oil and Gas subsidiary, PT. VetcoGray Indonesia, has been awarded a field decommissioning contract with Premier Oil Indonesia, to support the shutdown of four subsea wells in Anoa field, offshore Indonesia. More »

Aramco's path from one oil well to world's most valuable company

Saudi Arabia's state oil producer is in a league of its own. The world's most valuable company, which supplies about one in every nine barrels of crude produced and runs refineries from the U.S. Gulf coast to the South China Sea, is preparing for an initial public offering to raise about $100 billion as soon as 2017. More »

Venezuela oil exports seen falling as economic woes worsen

The long decline in Venezuela’s oil production is becoming a supply risk for international markets, according to a report by Columbia University’s Center on Global Energy Policy. More »

JX Nippon sells part of working interest in UK’s Mariner field

JX Nippon Exploration and Production (UK) Limited has sold an 8.9% working interest in the Greater Mariner Area, including Mariner oil field, primarily located in UK license P335, to Siccar Point Energy UK Limited. More »

Parsley Energy in $400-million Midland basin acquisition

Parsley Energy has entered into an agreement to acquire certain undeveloped acreage and producing oil and gas properties in Glasscock County, Texas, as well as associated mineral and overriding royalty interests, for an aggregate purchase price of $400 million in cash, subject to customary closing conditions. More »

DJ basin-focused Crestone Peak names Tony Buchanon as CEO

DENVER, Colorado -- Crestone Peak Resources has named Tony Buchanon as CEO. Buchanon has also been named to the company's board of directors. More »

Wood Group awarded $700 million contract by Tengizchevroil in Kazakhstan

Wood Group is providing main automation contractor services to Tengizchevroil (TCO) for the Future Growth Project-Wellhead Pressure Management Project at the Tengiz field in Kazakhstan. More »

Technip, DOF Subsea joint venture takes delivery of PLSV Skandi Açu

Technip and DOF Subsea’s 50/50 owned joint venture, TechDof Brasil AS, has taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu, the companies said Tuesday. More »

Fugro to support Total's ultra-deepwater drilling campaign offshore Uruguay

Fugro has been awarded a contract by Total EandP Uruguay to support its drilling campaign offshore Uruguay. The contract provides for ROV and tooling services in Raya-1 field, which has a water depth of 3,400 m. More »

Technip, DOF take delivery of PLSV Skandi Açu

Technip and DOF Subsea’s 50/50 owned joint venture, TechDof Brasil AS, has taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu, the companies said Tuesday. More »

Fugro to support ultra-deepwater drilling campaign for Total

Fugro has been awarded a contract by Total EandP Uruguay to support its drilling campaign offshore Uruguay. The contract provides for ROV and tooling services in Raya-1 field, which has a water depth of 3,400 m. More »

D3 wins major contract following successful decommissioning project

D3 Consulting, specialist decommissioning and demolition consultants, has been awarded a six-figure contract with a major operator, following the successful completion of a decommissioning project with another operator. More »

Oil trades near $46 as Nigeria sees OPEC cuts unlikely

Oil traded near $46/bbl after the biggest three-day gain since April as Nigeria’s oil minister signaled the prospect of production cuts from OPEC was unlikely. More »

Concho Resources in $1.6-billion Midland basin acquisition

Concho Resources has reached a definitive agreement to acquire approximately 40,000 net acres in the core of the Midland basin from Reliance Energy, a privately held, Midland-based energy company, for $1.625 billion. More »

Hunting’s select fire perforating system sets new Canadian e-coil perforating record

HOUSTON -- Hunting announced Monday that its Titan Division’s select fire perforating system recently set a new Canadian e-coil perforating record with a 52-CFA gun string deployed by Titanium Tubing Technology Ltd. for Teine Energy Ltd. in Kindersley, Saskatchewan. More »

Oil tycoon Pickens boosted energy holdings as rigs bottomed out

DALLAS (Bloomberg) -- Oil tycoon T. Boone Pickens boosted the value of his energy holdings by more than a third in the second quarter, just as the U.S. oil rig count was bottoming out from the worst crude-market crash in a generation. More »

Chesapeake seeks $1-billion loan to refinance debt

Chesapeake Energy is seeking a $1-billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9-billion debt load. More »

Oil market hears what it wants, but it's just chatter: Column

As long as there are eager buyers of bridges, there will be willing sellers. More »

Iran says gas exports to Iraq will start next month after delay

Iran, holder of the world’s biggest natural gas reserves, says it will start exports to Iraq in the next month, more than a year later than it originally planned. More »

Halliburton introduces largest hole-size LWD density service

Sperry Drilling, a Halliburton business, has announced the release of the 9 1/2-in. Azimuthal Lithodensity (ALD) service, providing real-time density measurements and images in boreholes up to 17 1/2 in. More »

Rosneft second-quarter profit falls 34% as oil recovery stalls

Rosneft PJSC’s second-quarter profit decreased about 34%, coming in better than analysts estimated, even as a recovery in oil prices sputtered out at below last year’s price levels. More »

OPEC could still tip next year’s oil deficit into surplus

The re-balancing of oversupplied oil markets is on track as demand climbs and U.S. shale production falters, according to the International Energy Agency. More »

UK's OGA exploration license competition makes final awards

The Oil and Gas Authority (OGA) has awarded more than £200,000 ($258,000) in the final stage of its exploration license competition, which was launched earlier this year to stimulate further interest in offshore oil and gas exploration activity in the United Kingdom Continental Shelf. More »

Ashtead’s Deflection Monitoring System supports BP’s Quad 204 redevelopment

Ashtead Technology has completed a subsea integrity management project to support BP’s Quad 204 redevelopment of the Schiehallion and Loyal fields, West of Shetland. More »

Bill Barrett Corp. to resume DJ basin development campaign

Bill Barrett Corporation will resume its extended reach lateral (XRL) development program in the Denver-Julesburg (DJ) basin during the third quarter of 2016, the company said Monday. More »

Iraq appoints oil minister as Islamic State war limits output growth

Jabbar al-Luaibi, former head of Iraq’s biggest oil producer, was appointed oil minister as a costly war against Islamic State militants has capped investments in the OPEC country’s crude production. More »

Oil trades near three-week high on OPEC freeze speculation

Oil traded near the highest closing level in three weeks in New York amid speculation that crude producers will revive talks to stabilize prices. More »

Santos flags $1-billion Gladstone LNG charge on gas supply

Santos Ltd. will take a $1.05-billion writedown on the value of its Gladstone LNG project due to rising prices for third-party natural gas supplies and slower than expected ramp up of its own equity output. More »

Oil rises to weekly gain as Saudis reiterate wish for stability

Oil climbed to its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market. More »

Dust control solution prevents silica dust exposure at Oklahoma wellsite

AIRIS Wellsite Services has announced the completion of another successful project. Atalaya Resources, a private EandP company, contracted with AIRIS to protect the health and safety of all personnel on-site by preventing exposure to silica dust. The Barnett 29/28-11-21 1H well was drilled and brought online near Elk City, Okla. More »

Operators bring back rigs in longest streak since 2014

U.S. oil producers added rigs for the seventh week in a row, the longest period of expansion since the final days of the drilling boom in early 2014. More »

Operators add 17 rigs with Permian basin taking the lion’s share

Operators in the U.S. added 17 rigs this week, according to the latest data from Baker Hughes. More »

Oil heads for weekly gain as Saudis reiterate wish for stability

Oil is heading for its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market. More »

Eni restarting Val d'Agri oil production

More »

Propell to start 15-well treatment program for Pemex

Propell Technologies Group, a U.S. provider of enhanced oil recovery technology, is to begin a program, through Pozotech/Grupo Industrial RJP, its partner in Mexico, to treat 15 wells for Pemex. More »

Investors have $100 billion to spend on oil assets no one else wants

The long wait may finally be over. Since the great crash of oil in mid-2014, more than $100 billion has been raised by buyout firms and distressed-debt funds eager to scoop up energy assets on the cheap. More »

Vantage Drilling names Toma as new CEO

Vantage Drilling International has named Ihab Toma as the company's next CEO. Toma, who joins the company with more than 30 years of experience in the oil industry, will take the reins on Aug. 29. More »

Midsund Bruk nets ASME certification as it looks to expand

Midsund Bruk, an oil and gas technology supplier, is targeting further growth after securing an internationally recognized quality assurance certificate. More »

GMC installs seawater caissons in North Sea

GMC Limited has announced the successful installation of a seawater caisson in the North Sea; eight days ahead of schedule. More »

Petrobras swings to profit on rising crude output, exports

A recovery in oil output and exports helped Petrobras reverse three quarters of straight losses as the Brazilian producer emerges from two years of graft investigations and falling crude prices. More »

Oil’s rally seen too low for industry growth, Canadian CEOs say

The rebound in U.S. crude prices from a low of about $26/bbl this year hasn’t been big enough for Canadian energy CEOs to start celebrating. More »

Oil rises most since May after Saudi comments on producer talks

Crude climbed the most in three months amid speculation that oil producers could agree on moves to support prices during talks in September. More »

Canada Pension pounces on drop in oil price to snatch up assets

Low oil prices have created an opportunity for long-term investors to snap up quality energy assets at a discount, according to Mark Machin, CEO of Canada Pension Plan Investment Board. More »

Chesapeake surges after abandoning birthplace of shale boom

Chesapeake Energy Corp. agreed to give away its Barnett Shale holdings to a private-equity backed operator, exiting the birthplace of the shale revolution to escape almost $2 billion in onerous pipeline contracts. More »

Oil and Gas UK targets maintenance optimization with new publication

More »

Railroad Commissioner Craddick announces Texas Oilfield Relief Initiative

AUSTIN, Texas -- Railroad Commissioner Christi Craddick announced details of her Texas Oilfield Relief Initiative on Tuesday as the first rule amendments of the project were rolled out during the Commissioners’ open conference. More »

Statoil, IKM Subsea partner to introduce residential ROV concept

IKM Subsea has been awarded a contract for ROV and subsea services for Statoil's Visund and Snorre B assets. More »

Gazprom Neft commissions wells at Prirazlomnoye field on Russian Arctic Shelf

Gazpromneft Shelf, a subsidiary of Gazprom Neft, has brought two additional production wells (its third and fourth) into production at Prirazlomnoye field. More »

Gazprom Neft commissions new wells at Prirazlomnoye field on Russian Arctic Shelf

Gazpromneft Shelf, a subsidiary of Gazprom Neft, has brought two additional production wells (its third and fourth) into production at Prirazlomnoye field. More »

NOV options volume jumps as it considers deals

Options to acquire National Oilwell Varco shares over the next two weeks surged on Wednesday as the biggest U.S. maker of oilfield equipment hunts for deals during the worst downturn in a generation. More »

ROVOP secures contracts worth over $4 million

ROVOP, an independent operator of ROVs, has been awarded several new contracts across the oil and gas and offshore wind sectors. More »

IEA sees oil market rebalancing despite record Gulf production

PARIS (Bloomberg) -- Global oil markets will continue to re-balance this year as a pick-up in demand from refiners absorbs record output from several Persian Gulf producers, the International Energy Agency predicted. More »

U.S. operators need $60 oil to stage real comeback, IEA says

While shale drilling in the U.S. is on the rise again, prices need to climb nearer to $60/bbl for U.S. producers to have a “substantial” boost in activity, the International Energy Agency said. More »

Chesapeake Energy exits Barnett shale with latest deal

Chesapeake Energy Corp. has announced that it has entered into an agreement to convey its interests in the Barnett shale operating area in North Texas to Saddle Barnett Resources, LLC--a company backed by First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy--and simultaneously terminate future commitments associated with this asset. More »

Chesapeake Energy to exit Barnett shale

Chesapeake Energy Corp. has announced that it has entered into an agreement to convey its interests in the Barnett shale operating area in North Texas to Saddle Barnett Resources, LLC--a company backed by First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy--and simultaneously terminate future commitments associated with this asset. More »

Chesapeake to exit Barnett shale, accelerate gas supply contract

Chesapeake Energy Corp. has announced that it has entered into an agreement to convey its interests in the Barnett shale operating area in North Texas to Saddle Barnett Resources, LLC--a company backed by First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy--and simultaneously terminate future commitments associated with this asset. More »

Swift Energy Company's CEO and CFO set to retire

HOUSTON -- Swift Energy Company’s CEO, Terry Earl Swift, is set to retire. More »

Salvage team inspects grounded Transocean semisubmersible

A damage assessment team has boarded and inspected the semisubmersible rig that ran aground on the Isle of Lewis, offshore Scotland, earlier this week. More »

Venezuela’s president says he discussed oil prices with Saudi king

Venezuelan President Nicolas Maduro said he spoke to Saudi Arabia’s king about boosting oil prices and is reaching out to the heads of state of fellow producers Russia, Iran and Qatar as his country reels under the crude crash. More »

Oil falls after U.S. crude supply gains, refinery demand slips

Oil declined after a government report showed U.S. crude inventories increased on weakening demand from refineries. More »

Taqa second-quarter loss widens on lower oil, gas prices

Abu Dhabi National Energy Co., the government-controlled utility known as Taqa, reported a wider loss in the second-quarter as lower oil and natural gas prices crimped revenue. The shares fell for the first time this week. More »

Vaca Muerta is key energy to Argentina energy exports, IHS Markit says

Argentina’s promising Vaca Muerta unconventional energy play could deliver approximately 560,000 bpd of liquids and 6 Bcfgd by 2040, increasingly meeting the country’s growing demands for energy with domestic production and helping reduce its dependence on imports, according to recent analysis from IHS Markit. More »

Saudi-Iran oil rivalry heats up as OPEC seeks to stabilize price

Saudi Arabia and Iran are showing no letup in their market share war, just days after OPEC announced an informal meeting to discuss ways to stabilize falling prices. More »

Allseas’ Pioneering Spirit installs test platform in North Sea

More »

Subsea 7 acquires polymer lining specialist Swagelining Limited

Subsea 7 has announced the acquisition of Swagelining Limited, the subsea industry’s leading polymer lining technologist, to further expand existing polymer pipeline technology interests. More »

Suncor to acquire interest in North Sea Rosebank project from OMV

Suncor Energy UK Limited is to acquire a 30% participating interest in the UK North Sea Rosebank project from OMV (UK) Limited. More »

Iran expects $25-billion oil contracts signed within two years

Iran expects foreign oil companies to sign deals valued at $25 billion over the next one to two years under the terms of a new contract model approved last week, the managing director of the National Iranian Oil Co. said. More »

Shell declares force majeure on Nigeria gas supply after leak

Royal Dutch Shell said its local unit has declared force majeure on supplies to a liquefied natural gas plant in Nigeria because of a leak, potentially exacerbating a decline in exports for the OPEC member that’s suffering from militant attacks on energy infrastructure. More »

Saudi Arabia said to report record oil output on summer demand

Saudi Arabia told OPEC that it pumped a record 10.67 MMbopd in July to meet a summer surge in domestic demand, an increase that will do nothing to endear OPEC’s leading exporter to other members seeking output limits to shore up prices. More »

Investors are cozying up to MLPs despite oil's bearish streak

After falling from grace amid crude’s collapse, master-limited partnerships, a darling of recent commodities booms, are winning over investors again thanks to their high payouts and long-term contracts. More »

U.S. oil production proves resilient as forecast increased

Oil producers in the U.S. are proving more resistant to low prices, even as global supply is set to fall into a deficit next year. More »

Exxon’s ‘Green’ states climate fight heats up in Texas court

Exxon Mobil Corp.’s battle with New York and Massachusetts over their probes into the company’s use of climate change data is heating up, and a key element of the national dispute is now in the hands of a Texas judge. More »

WellDog launches new shale sweet spot service

WellDog announced today the launch of its Shale SweetSpotter service, the first commercial reservoir-evaluation analysis technology specific to unconventional oil and gas, following successful field trials with its industry partner in the Marcellus shale. More »

For oil companies $110-billion debt wall looms over next 5 years

The worst may be yet to come for some strained oil services companies as $110 billion in debt, most of it junk rated, creeps closer to maturity. More »

For oil companies $110 billion debt wall looms over next five years

The worst may be yet to come for some strained oil services companies as $110 billion in debt, most of it junk rated, creeps closer to maturity. More »

Over 600 DUCs are intentionally delayed in each of the largest shale oil plays: Rystad

By looking at the intentionally postponed (abnormal) part of the DUC inventory, Rystad Energy observed that all of the major liquid basins are exposed to completion delays. More »

ISDS first for DNV GL classed Ocean Greatwhite

DNV GL has welcomed the world’s largest semisubmersible drilling rig, the Ocean Greatwhite, into class. More »

Oil steady as OPEC discussions seen unlikely to result in action

Oil traded near the highest close in two weeks as investors weighed OPEC’s plans to hold informal talks next month. More »

Statoil starts Snøhvit drilling to bolster Hammerfest LNG

More »

Statoil moves ahead with Utgard development in North Sea

Statoil and its partners have submitted the Plan for Development and Operation (PDO) and the Field Development Plan (FDP) for the Utgard gas and condensate discovery in the North Sea to the authorities in Norway and the UK. More »

Putin said to ban Rosneft from Bashneft auction

President Vladimir Putin agreed to ban Rosneft PJSC, Russia’s acquisitive state oil company, from bidding for the controlling stake in smaller producer Bashneft PJSC that the government plans to auction off as early as next month, according to two people with direct knowledge of the matter. More »

Oil bear market attracts record bets on further price slide

Hedge funds have gone all-in on lower oil prices, counting on seasonal weakness to play out again this year. More »

Oil trades near two-week high as investors weigh OPEC talks

Oil traded near the highest in two-weeks as investors weighed whether OPEC members will be able to agree on any production limits when they hold informal talks in Algiers next month. More »

Chevron wins ruling blocking $8.6-billion order in Ecuador fight

Chevron Corp. won a victory in its long-running battle against Ecuadoreans and the zealous American lawyer who represented them, as an appeals court barred the attorney from enforcing in the U.S. an $8.6-billion award because he won it through deceit. More »

Sound Energy confirms gas discovery at Tendrara, onshore Morocco

Sound Energy has confirmed a significant gas discovery and a potential single gas column at the company's Tendrara license, onshore Morocco. More »

Cub Energy spuds M-23 well in eastern Ukraine

Cub Energy Inc. has announced that KUB-Gas LLC--Cub’s 35%-owned subsidiary, which owns and operates the eastern Ukraine licenses--has commenced drilling of the Makeevskoye-23 well. More »

UK considering direct compensation for Britons affected by fracing

Britons living close to fracing wells could be paid some of the proceeds under proposals being considered by the UK government. More »

China crude imports fall to 6-month low as teapot demand slows

China’s crude imports fell to the lowest level in six months as demand from independent refineries eased. Net fuel exports surged to a record. More »

Add Energy celebrates maintenance data contract with BP

More »

Proserv strengthens capabilities with KLAW Products partnership

Proserv has formed a strategic partnership with KLAW Products to offer an enhanced field safety service preventing offshore spills in the Middle East. More »

SM Energy acquires acreage in Midland basin in $980-million deal

SM Energy Company has entered into a definitive purchase agreement to acquire 24,783 net acres in Howard County, West Texas, expanding the company’s Midland basin footprint to approximately 46,750 net acres. More »

SM Energy acquires acreage in Midland basin in $980-million deal

SM Energy Company has entered into a definitive purchase agreement to acquire 24,783 net acres in Howard County, West Texas, expanding the company’s Midland basin footprint to approximately 46,750 net acres. More »

Russia sees no need for oil freeze talks currently, Novak says

Russia sees no need for renewing discussion of an oil-output freeze at current crude prices, while leaving open the possibility for the future, Energy Minister Alexander Novak told journalists in Moscow Monday. More »

Transocean rig runs aground off Scottish isle amid storms

Transocean Winner, a semisubmersible rig, ran aground off the west coast of Scotland after it broke free from a tug boat amid strong winds, the U.K. Maritime and Coastguard Agency said. More »

OPEC plans informal talks next month, sees oil dip temporary

The Organization of Petroleum Exporting Countries will hold informal talks at a conference in Algiers next month and considers the recent decline in oil prices “temporary,” the group’s president said Monday. More »

Libya starts work at biggest oil port in step to increase output

Libya has started maintenance work at Es Sider port, the nation’s largest oil export terminal, as part of plans to increase output from Africa’s biggest holder of crude reserves. More »

Shale drillers add oil rigs for longest streak in a year

U.S. oil drillers added rigs for the sixth-straight week, marking the longest period of expansion in a year as the shale patch revives from the worst downturn in a generation. More »

YPF plans to sell non-core assets after second-quarter loss

YPF SA, Argentina’s biggest company, plans to divest non-core assets in a bid to focus in projects that pay back quickly. More »

Hungary’s Mol affirms earnings outlook as investment target cut

Hungarian energy group Mol Nyrt. confirmed its earnings guidance and reduced investment plans for this year after a 45% jump in second-quarter net income on the back of rising oil prices and production. More »

Premier Oil’s Bagpuss well proves oil offshore Scotland

Premier Oil’s 13/25-1 well, which was targeting the Bagpuss prospect, on the Halibut Horst in the Outer Moray Firth, has reached a total depth of 1,532 ft (TVDSS) in a granite basement. More »

NOV promotes Isaac H. Joseph to president, Wellbore Technologies

National Oilwell Varco has announced the promotion of Isaac H. Joseph to president, Wellbore Technologies. More »

Det norske wildcat misses in North Sea

Det norske oljeselskap, operator of production license 626, has completed the drilling of wildcat well 25/10-15 S. The well is dry. More »

Hoover Container Solutions, Ferguson Group, CCC to merge

HOUSTON -- Hoover Container Solutions, Ferguson Group and CHEP Catalyst and Chemical Containers (CCC), three of the leading global providers of container solutions products in the energy, petrochemical and general industrial markets, are merging to form Hoover Ferguson Group (HFG). More »

Hoover Container Solutions, Ferguson Group and CHEP Catalyst and Chemical Containers announce merger

HOUSTON -- Hoover Container Solutions, Ferguson Group and CHEP Catalyst and Chemical Containers (CCC), three of the leading global providers of container solutions products in the energy, petrochemical and general industrial markets, are merging to form Hoover Ferguson Group (HFG). More »

Permier Oil’s Bagpuss well proves oil

Premier Oil’s 13/25-1 well, which was targeting the Bagpuss prospect, on the Halibut Horst in the Outer Moray Firth, has reached a total depth of 1,532 ft (TVDSS) in a granite basement. More »

Crude slump sees oil majors’ debt burden double to $138 billion

When commodity prices crashed in late 2014, oil executives could look at their mining counterparts with a sense of superiority. More »

Oil traders see glimmer of profit in hoarding crude at sea

NEW YORK (Bloomberg) -- Oil traders once again believe it’s worth heading out to sea. More »

Oil above $100/bbl was ‘abnormal,’ OPEC’s new chief says

Oil’s climb above $100/bbl before prices crashed in 2014 was driven by “abnormal” conditions that couldn’t last, according to OPEC’s new Secretary-General. More »

Oil has probably bottomed out at $40, Greenspan suggests

Former Federal Reserve Chairman Alan Greenspan suggested that oil prices have probably bottomed out at about $40/bbl after tumbling more than 20% in the past two months into a bear market. More »

Transocean lowers cost guidance 9% after posting surprise profit

Transocean Ltd. followed up a surprisingly profitable three months by revealing there’s more costs to cut as the world’s largest owner of offshore rigs gets smarter at parking equipment that explorers don’t want. More »

SEG selects new president-elect

The Society of Exploration Geophysicists (SEG) today announced results of its 2016–2017 board of directors election. More »

Canadian Natural cost cuts trim loss as output misses estimates

Canadian Natural Resources Ltd., the nation’s largest heavy-oil producer, reported a narrower second-quarter loss as lower costs helped offset the slump in crude prices. More »

Bollinger Shipyards announces safety milestones

Bollinger Shipyards, LLC said Wednesday that the Bollinger Lockport New Construction facility has worked 6,000,000 man-hours without a lost time accident and the Bollinger Fourchon facility has worked fifteen (15) years without a lost time accident. More »

Eni wildcat strikes out northeast of Johan Castberg

STAVANGER, Norway -- Eni Norge, operator of production license 226, is in the process of completing the drilling of wildcat well 7222/1-1. The well is dry. More »

Chesapeake misses estimates as gas field writedowns mount

Chesapeake Energy Corp. missed analyst estimates as a slump in natural gas prices prompted a $1-billion impairment of its gas fields and eroded the value of the company’s hedges. More »

New North Sea strike goes ahead as company rejects union offer

A 48-hour strike by North Sea offshore oil and gas workers started Thursday, after company managers rejected an offer from trade unions. More »

Kongsberg wins EPC contract for two heavy lift/accommodation units

Kongsberg Maritime has been awarded significant offshore EPC contracts with China Merchants Heavy Industries (CMHI). More »

ClearSign secures major multi-flare contract with California producer

ClearSign Combustion Corporation, an emerging provider of industrial combustion technologies that help to reduce emissions and improve efficiency, has received a multi-flare contract from a major California oil producer to retrofit their enclosed wellhead ground flares with its Duplex technology to ensure compliance with air district emission requirements. More »

PJ Valves inks contracts for Maersk Oil’s Culzean project

PJ Valves (PJV), the specialist manufacturer and supplier of valves to the global energy industry, has been awarded more than £1 million ($1.3 million) worth of contracts to supply over 1,000 valves to Maersk Oil’s Culzean field in the UK North Sea. More »

TGS, Schlumberger announce new Dual Coil Shooting full-azimuth multiclient acquisition in U.S. Gulf of Mexico

TGS and Schlumberger have announced commencement of the Dual Coil Shooting multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico. More »

Middle East drives LNG demand as glut makes prices attractive

Countries in the Middle East and North Africa led by Egypt, Kuwait and Morocco are boosting LNG import capacity, taking advantage of low prices to meet rising energy demand. More »

U.S. crude imports surge to highest since 2012 as output slips

U.S. crude imports rose to the highest level since October 2012 as excess global supply finds its way to American ports. More »

One nook of America’s shale industry is eyeing a big comeback

Amid the gloom and doom that’s set in all along America’s shale fields these past two years, there has been one small, but consistent, bright spot. Sand, it turns out, is a much greater tool in hydraulic fracturing than drillers had understood it to be. More »

Transocean posts unexpected profit thanks to cost cuts

Transocean Ltd. surprised analysts by slashing its way to profitability in the second quarter as the world’s largest owner of offshore rigs tries to keep up with dwindling drilling demand from explorers. More »

IPAA files litigation over EPA’s final methane regulations

Yesterday afternoon, the Independent Petroleum Association of America (IPAA) led efforts on two legal actions against the U.S. Environmental Protection Agency (EPA) related to its new regulations governing methane emissions for the oil and natural gas industry. More »

Intermoor completes decommissioning operations of OSX-1 FPSO in Brazil

InterMoor do Brasil, an Acteon company, successfully completed their involvement in the decommissioning operations of the OSX-1 Floating Production System and Offloading (FPSO). More »

Eagle Ford shale still shows promise of greatness in variations

Attendance at the Unconventional Resources Technology Conference in San Antonio may have been a bit light this week, given the continuing industry downturn, but the core group of shale experts and enthusiasts was still in evidence at this three-day event that ended Wednesday. More »

Oil rises as U.S. gasoline supply decrease outweighs crude gain

Oil increased after U.S. gasoline stockpiles fell the most since April as refineries increased operating rates. More »

Quantum Materials Corp. developing nanomaterials for tracing frac fluids

Quantum Materials Corporation has partnered with a Texas-based EandP technology business and is developing specialized nanomaterials for use in oil and gas well production optimization. More »

Enbridge, Marathon agree to buy $2-billion Bakken pipeline stake

A unit of Enbridge Inc. and Marathon Petroleum Corp. have agreed to pay a combined $2 billion in cash for a stake in the Bakken pipeline system from an affiliate of Energy Transfer Partners LP and Sunoco Logistics Partners LP. More »

Newfield Exploration to sell Texas assets for nearly $390 million

Newfield Exploration is to divest substantially all of its assets in Texas for combined net after tax proceeds of nearly $390 million, subject to customary purchase price adjustments. More »

Total starts production at Bolivia’s Incahuasi gas field

Total has brought Incahuasi gas and condensate field, the group’s first operated development in Bolivia, on stream. The field has a production capacity of 50,000 boed. More »

Fugro completes Ghana metocean data acquisition for Hess

Fugro has completed a 33-month period of metocean data acquisition for Hess Ghana Exploration Limited. More »

VAALCO Energy announces retirement of CEO Steve Guidry

VAALCO Energy announced Wednesday that Steve Guidry, the company’s CEO, will retire from the company and board of directors effective Sept. 1, 2016. More »

Iran adopts oil contract as glut no barrier to production boost

Iran approved an outline for a new oil contract model, taking the OPEC member a step closer to welcoming foreign investment in its energy industry and boosting production even more into an oversupplied market. More »

Husky, CNOOC resolve Liwan gas dispute by lowering prices

The end of a dispute over prices from an offshore Chinese energy project resolves an overhang on shares of Husky Energy Inc. and prospects for natural gas development in the Asian nation. More »

Citi sees oil bears ‘gone wild’ at $40 as outages to persist

While oil bears go “wild” at crude’s retreat to $40/bbl, there’s some comfort on the way for the bulls, according to Citigroup Inc. More »

Oil traders don’t see dip to $40 leading to market rout

Oil analysts from Citigroup Inc. to Bank of America Merrill Lynch are confident that the new bear market in crude will be short-lived. The options market increasingly agrees with them. More »

U.S. Silica to acquire logistics solutions provider Sandbox Enterprises

U.S. Silica Holdings, Inc., has entered into a definitive agreement to acquire Sandbox Enterprises LLC, a provider of logistics solutions and technology for the transportation of proppant used in hydraulic fracturing in the oil and gas industry. More »

U.S. Silica to acquire Sandbox Enterprises, a logistics solutions provider

U.S. Silica Holdings, Inc., has entered into a definitive agreement to acquire Sandbox Enterprises LLC, a provider of logistics solutions and technology for the transportation of proppant used in hydraulic fracturing in the oil and gas industry. More »

Oil drops amid global growth concerns and oversupply worries

Oil settled at the lowest level in almost four months, following a drop in U.S. stocks as global growth concerns resurface. More »

Halliburton installs its 1,000th multilateral junction

Halliburton today announced the installation of its 1,000th multilateral junction. More »

BHP Billiton selects Seven Lakes to equip operations with field data capture application

Seven Lakes Technologies, a developer of innovative enterprise software and solutions for the Oil and Gas industry, announced Tuesday that BHP Billiton Petroleum has selected Seven Lakes' FDG mobile solution for its North American field operations to transform the quality of complex data inputs including wells, routes and pumpers. More »

OPEC output disrupted in July on Nigeria attacks, Libya dispute

OPEC’s crude oil output was disrupted in July by militant attacks in Nigeria and political disputes in Libya, according to a Bloomberg News survey. More »

Lowest offshore project commitments since 1998: Rystad

Rystad Energy's latest market analysis shows that EandP companies have been hesitating to engage in greenfield projects amid the current market downturn, resulting in the lowest offshore project commitment since 1998. More »

Average shale wellhead break-even prices are below $40, Rystad says

Rystad Energy's latest North American Shale Report shows that the average wellhead breakeven price has decreased on average by 22% year-over-year from 2013 to 2016. More »

Transocean Ltd. to acquire Transocean Partners

More »

India seeking merger model for possible state oil champion

India is open to discussing a merger of some of its state-run oil producers and refiners to create a larger, stronger national firm, according to the country’s oil minister. More »

Mid-Con Energy announces Permian bolt-on acquisition

Mid-Con Energy Partners, through its wholly owned subsidiary Mid-Con Energy Properties, has entered into a definitive agreement to acquire oil and natural gas properties in Nolan County, Texas, for an aggregate purchase price of approximately $19.5 million. More »

VAALCO acquires additional working interest in Gabon’s Etame Marin Permit

VAALCO Energy has signed a purchase and sale agreement to acquire an additional 3.23% participating interest in the Etame Marin Permit, offshore of the Republic of Gabon, from Sojitz Etame Limited, which represents the full interest owned by Sojitz in the concession. More »

DNV GL wins in-service verification work for Wintershall

Wintershall Noordzee has awarded DNV GL a five-year contract to provide in-service verification work for two North Sea platforms. More »

Looking beyond a bear market, analysts see $57 crude next year

Oil closed in a bear market Monday, but don’t abandon hope. Analysts are looking beyond the current slide to next year for a rebound. More »

Russia oil output posts 24th month of year-on-year gains in July

MOSCOW (Bloomberg) -- Russian oil output rose 1.8% in July, extending a run of year-on-year gains to 24 months. More »

MicroSeismic awarded monitoring contract in Argentina's Neuquén basin

MicroSeismic, Inc., has announced plans to install the first permanent BuriedArray for a major operator in Argentina. More »

MicroSeismic awarded microseismic monitoring contract in Argentina

MicroSeismic, Inc., has announced plans to install the first permanent BuriedArray for a major operator in Argentina. More »

Nigeria resumes paying former militants as oil output drops

ABUJA, Nigeria (Bloomberg) -- Nigeria resumed payments to former militants in the oil-rich Niger River delta and the military targeted gangs involved in sabotage of pipelines, as the government responded to sustained attacks on infrastructure that dragged crude production back to an almost 30-year low. More »

Oil falls below $40 for first time since April amid global glut

Oil dropped below $40/bbl in New York for first time since April on concern that the global supply glut is returning. More »

EnerMech to deliver turret project on BP's Glen Lyon FPSO

Mechanical engineering specialist EnerMech is in the process of delivering a £5million-plus contract to support the turret delivery team on BP’s Glen Lyon FPSO, which has arrived for hook-up operations West of Shetland. More »

Honeywell to provide automation and safety systems for new Canadian LNG facility

Honeywell Process Solutions (HPS) today announced it will provide full automation and safety systems and serve as integrated main automation contractor (I-MAC) for a new LNG facility being built in Eastern Canada to process North American natural gas for international export. More »

Halliburton introduces new flowback service to improve well performance

Halliburton has announced the release of the CALIBR engineered flowback service, which applies advanced diagnostics and a collaborative workflow to continuously manage flowback operations to improve well productivity. More »

Oil slides after biggest monthly loss in year as U.S. adds rigs

Oil fell after its biggest monthly decline in a year as U.S. producers increased drilling and crude and fuel stockpiles remained at the highest seasonal level in at least two decades. More »

Offshore safety continues to improve, Oil and Gas UK report shows

Personal safety performance across oil and gas operations on the UK Continental Shelf (UKCS) continued to improve in 2015, according to the 2016 Oil and Gas UK Health and Safety Report published Monday. More »

Statoil sells W.Va. assets to Antero in $96-million deal

Statoil has agreed a further sale of non-core assets from its U.S. onshore portfolio, the third in the southern Marcellus in the last two years. More »

BP Trinidad and Tobago, Atlantic LNG sanction compression project

BP Trinidad and Tobago and Atlantic LNG have sanctioned the Trinidad Onshore Compression (TROC) project. More »

BP Trinidad and Tobago, Atlantic LNG sanction onshore compression project

BP Trinidad and Tobago and Atlantic LNG have sanctioned the Trinidad Onshore Compression (TROC) project. More »

Aqualis Offshore oversees transport of world’s largest jackup

Aqualis Offshore has been contracted by Noble Corporation to oversee the load-on, transportation and load-off operations of the first journey of the world’s largest jackup rig, the Noble Lloyd Noble. More »

Iran’s oil contract due Wednesday to lure billions of investment

Iran is expected to approve a new model for oil contracts on Wednesday, paving the way for billions of dollars of foreign investment to help rebuild its energy industry. More »