U.S. oil rigs fall for 21st week as supply shows signs of easing

Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an unprecedented retreat in drilling that has curbed domestic output and helped crude prices rally. More »

Saudi Aramco names Nasser as acting president, CEO

Amin H. Nasser has been named as the acting president and CEO of Saudi Aramco, following the appointment of Khalid A. Al-Falih, Nasser's predecessor, as Saudi Arabia's minister of health. More »

Chevron’s Watson sticks to plan for raising output through slump

Chevron Corp.’s plan to lift output 20% in three years is on track, CEO John Watson said, despite an oil-price slump that bled $5 million a day from the company’s U.S. oil and gas wells. More »

Lower Canadian costs offer competitiveness with U.S. LNG, Wood Mac says

The huge gas resource base in North America offers significant potential for LNG exports, but currently it is the U.S., not Canada, that is building an LNG export industry, according to Wood Mackenzie’s latest analysis. More »

SOCAR assumes operatorships as Statoil completes Shah Deniz sale

SOCAR, the State Oil Company of the Azerbaijan Republic, assumed operatorship of the Azerbaijan Gas Supply Company (AGSC) and commercial operatorship of the South Caucasus Pipeline Company (SCPC) on May 1, positions which were both previously held by Statoil. More »

Chariot secures extension of Mauritania exploration license

Chariot and its partners—Cairn Energy and the SociétéMauritanienne des Hydrocarbures et de Patrimoine Miner (SMHPM)—have secured a one-year extension on the current exploration phase of license C-19 in Mauritania. More »