New API safety standards developed to enhance OandG industry equipment, operations

The American Petroleum Institute’s Global Industry Services department (API Global) released two new safety standards: API Standard 16AR - Standard for Repair and Remanufacture of Drill-through Equipment and API Standard 18LCM - Product Life Cycle Management System Requirements for the Petroleum and Natural Gas Industries. ...»

PSAC raises Canadian drilling forecast by more than 2,500 wells for 2017

The Petroleum Services Association of Canada (PSAC), in its second update to the 2017 Canadian Drilling Activity Forecast, announced its revision of the forecasted number of wells drilled (rig released) across Canada for 2017 to 6,680 wells. ...»

New API safety standards enhance industry equipment and operations

The American Petroleum Institute’s Global Industry Services department (API Global) released two new safety standards: API Standard 16AR - Standard for Repair and Remanufacture of Drill-through Equipment and API Standard 18LCM - Product Life Cycle Management System Requirements for the Petroleum and Natural Gas Industries. ...»

Halliburton, Trendsetter, C-Innovations form Gulf of Mexico subsea alliance

Halliburton Trendsetter Engineering and C-Innovations today announced the companies have formed a strategic alliance to provide Gulf of Mexico (GOM) customers with technologically advanced, integrated offshore well intervention packages. ...»

Lukoil continues field facilities construction at North Caspian

Lukoil has deployed two convoys of vessels carrying constructive elements of Phase 2 field development facilities for LUKOIL’s Caspian projects. ...»

U.S. nearly doubled rigs drilling for gas since August, but production still lags

The number of rigs drilling for gas has almost doubled since August, but output continues to fall. ...»

Drillers nearly doubled U.S. land count since August, but gas production still lags

The number of rigs drilling for gas has almost doubled since August, but output continues to fall. ...»

Schlumberger contracts with Pemex for multiclient wide-azimuth seismic survey in Campeche Basin

Schlumberger announced today that Petroleos Mexicanos (Pemex) has signed an agreement to license data from the WesternGeco Campeche wide-azimuth (WAZ) multiclient seismic survey in the Salina del Istmo province of the southern Gulf of Mexico. ...»

Schlumberger executes contract with Pemex for multiclient wide-azimuth seismic survey in Campeche Basin

Schlumberger announced today that Petroleos Mexicanos (Pemex) has signed an agreement to license data from the WesternGeco Campeche wide-azimuth (WAZ) multiclient seismic survey in the Salina del Istmo province of the southern Gulf of Mexico. ...»

Helmerich and Payne announces U.S. contracted land count increases by 41 rigs from December 2016

Helmerich and Payne, Inc. (HandP) announced that its U.S. contracted land rig count increased by 41 rigs from Dec. 31, 2016 to March 31, 2017, and by 73 rigs from Sept. 30, 2016 to March 31, 2017. ...»

Patterson-UTI Energy reports 22% increase for U.S. rig count in first quarter

Patterson-UTI Energy reported its average rig count in the U.S. increased 22% to 81 rigs during the first quarter of 2017, up from 66 rigs in the fourth quarter of 2016. ...»

OPEC's efforts to cut production continue to battle U.S. output

Oil rose in New York, trimming a monthly decline, as OPEC-led drillers and Russia cite their adherence to an output-reduction deal in the face of a ramp-up in U.S. crude production. ...»

Oil supermajors are back: Exxon, Chevron triumph in crude resurgence

Exxon Mobil Corp. and Chevron Corp. easily swept aside analyst estimates as the battered giants of the U.S. oil industry shook off two-and-a-half years of low oil prices and reported surging profits in the first quarter. ...»

Eaton develops clamping enclosure design for oil, gas; industrial operations

Power management company Eaton announced that it has developed the first clamping enclosure technology for hazardous areas to help oil and gas and other industrial customers enhance safety and improve productivity. ...»

Cementys launches offshore sensor collar for tendons, risers

Paris-based Cementys is introducing a patent-pending sensor collar that allows the offshore retrofit of sensors onto existing tendons and risers. ...»

Cementys launches offshore sensor collor for tendons, risers

Paris-based Cementys is introducing a patent-pending sensor collar that allows the offshore retrofit of sensors onto existing tendons and risers. ...»

BP finds more than 200 million bbl in new resources with seismic imaging at U.S. GOM

BP announced a major breakthrough in seismic imaging that has identified more than 200 million barrels of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico ...»

BP finds more than 200 million bbl in new resources at U.S. Gulf of Mexico with seismic imaging

BP announced a major breakthrough in seismic imaging that has identified more than 200 million barrels of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico ...»

Materia expands manufacturing facilities in Texas

Materia Inc., a company in development and manufacture of catalysts and advanced polymers, is supporting growth in its Proxima thermoset resins by expanding its manufacturing capacity fivefold in Huntsville, Tx. ...»

Oil's April rollercoaster takes it back to $50/bbl on supply dilemma

After a rally in the first half of April, oil is set to end the month back below $50/bbl. ...»

Sifca to boost West Africa's palm-oil output as demand grows

Ivory Coast’s biggest oil-palm grower plans to meet rising demand for the product in Africa by increasing the capacity of its refineries and pushing output to at least 1 million tons a year by 2022. ...»

GE launches integrated service offering for offshore oil and gas water treatment

GE launched OnBoard, a customizable, total integrated water treatment solution and service plan for offshore oil and gas producers. ...»

Trump to expand offshore drilling, review post-spill rules

President Donald Trump is moving aggressively to expand offshore oil drilling and to reconsider rules that safeguard the activity. ...»

Drillers warned: 'Be careful what you wish for' with Trump's tax plan

While President Donald Trump’s plan to cut corporate income taxes could save oil and natural gas explorers $13 billion a year, it jeopardizes tax breaks that may mean even more to U.S. shale drillers. ...»

Oil slides to one-month low as Libya restarts Sharara field

Oil declined to a one-month low as Libya reopened its biggest field and as the market weighs increases in U.S. product inventories and crude output. ...»

China's oil giants buoyed by higher prices as output stagnates

Oil’s recovery is helping ease the pain of shrinking output by China’s biggest energy producers. ...»

Saudi Aramco CEO says 'peak oil' demand is a misleading theory

The boss of Saudi Arabia’s state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades. ...»

XACT Downhole Telemetry helps operator transmit real-time downhole data from 31,000 ft

XACT Downhole Telemetry, in conjunction with a major operator in the Gulf of Mexico, recently completed a multi-run completion deployment with real-time data coverage from a record-breaking depth of over 30,000 ft onsite in the Gulf of Mexico. ...»

XACT Downhole Telemetry helps operator transmit real-time downhole data during offshore completion

XACT Downhole Telemetry, in conjunction with a major operator in the Gulf of Mexico, recently completed a multi-run completion deployment with real-time data coverage from a record-breaking depth of over 30,000 ft onsite in the Gulf of Mexico. ...»

Anadarko to shut down more than 3,000 Colorado wells after nearby home explosion

Anadarko Petroleum Corp. dropped the most since August after the oil and natural gas explorer said it will shut more than 3,000 Colorado wells as part of an investigation into a deadly house explosion. ...»

Libya's biggest oil field said to reopen

Libya’s biggest oil field, Sharara, reopened as crude began to move through a pipeline connected to the Zawiya refinery, according to a person with direct knowledge of the matter. ...»

Total to invest $500 million to produce shale gas in Argentina

Total SA will spend $500 million over three to four years to develop a shale-gas field in Argentina as the country’s government lures investors by pledging a minimum price. ...»

World's top two shipyards signal more orders as earnings improve

The world’s two biggest shipbuilders reported profit and issued an improved outlook, indicating South Korea’s shipyards may finally be emerging from two years of restructuring. ...»

Dresser-Rand to supply compressor trains for BP project in the Gulf of Mexico

The Dresser-Rand business, part of Siemens Power and Gas Division, received an order from BP to provide rotating equipment for the Mad Dog 2 project in the deepwater Gulf of Mexico. ...»

Aker BP awards framework contract to Schlumberger for 4D seismic data

Aker BP has entered into a framework contract with Schlumberger for acquisition of 4D seismic data. ...»

Nabors' U.S. lower 48 rig count increases by 29% for second straight quarter

The 93 rigs working for the company in the lower 48 represent a 166% increase since its low point in May 2016. ...»

IEA: Global oil supply to lag demand after 2020 unless new investments approved soon

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. ...»

Saudis losing market share to Iran, Iraq on output reductions

Saudi Arabia is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices. ...»

Global oil discoveries and new projects fell to historic lows in 2016

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years. ...»

U.S. LNG expands to Eastern Europe as Poland avoids Russian gas

The U.S. is set to ship its first shale gas to a member of the former Soviet bloc as Europe seeks to cut its dependence on fuel from Russia. ...»

Crude rebounds as supply slips, refiners use record volume

Oil closed higher in New York after a government report showed U.S. crude stockpiles fell for a third week as refinery demand surged. ...»

New U.S. Chamber report demonstrates need for northeastern pipelines

The lack of pipeline infrastructure in the northeast has resulted in some of the highest electricity rates in the nation for families and business—and it will only get worse, according to a new report by the U.S. Chamber’s Institute for 21st Century Energy. ...»

Customized subsea technology used in Western Australia pipeline repair

Engineering teams from UK-based subsea connector specialists Hydratight and Norwegian technologists Connector Subsea Solutions (CSS) have completed a major deepwater pipeline repair in Western Australia. ...»

Native American tribes claim oil tankers threaten endangered orcas

Endangered killer whales in the waters west of Seattle face heightened risk from an increased traffic of tankers that will carry oil from Kinder Morgan Inc.’s $5.4 billion Trans Mountain Pipeline expansion, two Native American organizations claim in a federal lawsuit. ...»

Trump orders review of 1906 monument law to help oil, mining

President Donald Trump ordered a review of as many as 40 large national monuments that have been declared over the past two decades, beginning a process that could lead to the repeal of protections for those lands and new opportunities for oil and mining companies. ...»

OPEC ministers to meet Russia amid push to extend cuts

The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply. ...»

New U.S. chamber report demonstrates need for northeast pipelines

The lack of pipeline infrastructure in the northeast has resulted in some of the highest electricity rates in the nation for families and business—and it will only get worse, according to a new report by the U.S. Chamber’s Institute for 21st Century Energy. ...»

Saudi Arabia seen losing market share to Iran, Iraq on oil cuts

Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the head of research at Abu Dhabi Investment Authority. ...»

Saudi forces foil attempted attack on Aramco oil in Jazan

Saudi Arabia’s security forces foiled an attempt to blow up an oil product distribution center in Jazan, a province bordering Yemen in the kingdom’s southwest, according to the state-run news agency. ...»

U.S. Department of Energy authorizes LNG exports from Golden Pass terminal

The U.S. Department of Energy has announced that it has signed an order authorizing Golden Pass Products LLC to export domestically produced liquefied natural gas (LNG) to countries that do not have a free trade agreement (FTA) with the United States. ...»

Rockhopper Exploration commences Abu Sennan drilling campaign in Egypt

Rockhopper Exploration, the oil and gas company with key interests in the North Falkland basin and the Greater Mediterranean region, has announced the commencement of the 2017 drilling campaign on the Abu Sennan Concession in Egypt, in which the Company has a 22% working interest. ...»

TechnipFMC awarded subsea contract for Exxon's Liza project, offshore Guyana

TechnipFMC has been awarded a contract by an affiliate of Exxon Mobil Corp. for the engineering, manufacture and delivery of the subsea equipment for the proposed Liza deepwater project. ...»

Oil seen dropping below $40 if OPEC fails to extend output cuts

Crude will probably drop to $40/bbl or below unless OPEC and allied producers extend their collective cuts in output beyond June, according to analysts including the Abu Dhabi Investment Authority’s head of research. ...»

Oil supermajors dig out of doldrums as cash poised to surge

Oil majors' struggle against crude’s collapse is starting to ease, giving some companies enough cash to pay shareholders without piling on more debt. ...»

Trump said to order oil drilling study off California coast

President Donald Trump will open the door to new oil and natural gas drilling in Pacific waters off the coast of California with a directive Friday that sets up a certain clash with environmentalists. ...»

Flotek, IBM developing cognitive reservoir performance system

IBM and Flotek Industries announced a global agreement to develop a cognitive reservoir performance system for the oil and gas industry. ...»

Developing new LNG markets, terminals key to industry growth

When Russia’s biggest tanker operator launches four new vessels next year, they won’t just be carrying oil to northern Europe but the hopes of the liquefied natural gas industry. ...»

Flotek/IBM developing cognitive reservoir performance system

IBM and Flotek Industries announced a global agreement to develop a cognitive reservoir performance system for the oil and gas industry. ...»

Packers Plus installs first StackFRAC Titanium XV system in deep gas Jurassic reservoir

Packers Plus announced the installation of a StackFRAC Titanium XV system in a challenging high pressure/high temperature well in a Jurassic reservoir in the Middle East. ...»

Developing new LNG markets/terminals key to industry growth

When Russia’s biggest tanker operator launches four new vessels next year, they won’t just be carrying oil to northern Europe but the hopes of the liquefied natural gas industry. ...»

GE, Halvorsen TEC consortium to supply seawater sulfate removal unit for Johan Castberg

Marking a commercial milestone in process water treatment for the offshore oil and gas industry, Norwegian oil and gas company Statoil has selected a consortium led by GE Water and Process Technologies and Halvorsen TEC to supply a complete seawater sulfate removal unit (SRU) to help protect production wells in Statoil’s Johan Castberg project in the Barents Sea, off Norway. ...»

Noble Energy closes acquisition of Clayton Williams Energy

Noble Energy, Inc., announced that, following the overwhelming approval by the stockholders of Clayton Williams Energy, Inc., of the acquisition of Clayton Williams Energy by Noble Energy, the transaction closed and became effective immediately after market close on April 24, 2017. In conjunction with the closing, Clayton Williams Energy became a wholly owned subsidiary of Noble Energy under the name NBL Permian LLC. ...»

Petrofac enhances Iraq presence with $70 million in new contracts

Petrofac has secured a series of contract awards worth more than $70 million for engineering, operations and maintenance services in Iraq. ...»

NPD doubles resource estimate for Barents Sea

According to the Norwegian Petroleum Directorate’s new calculations, the undiscovered oil and gas resources in the Barents Sea are twice as large as previously assumed. ...»

Samaraneftegaz launches 3D seismic exploration works in new blocks

Samaraneftegaz, a Rosneft subsidiary, started 3D seismic exploration works in six blocks acquired in 2016. Drilling sites for prospecting and exploratory wells will be defined based on the results of these works. ...»

Gazprom Neft drills first multi-hole "fishbone" well on Russian Arctic Shelf

The first-ever, multi-hole “fishbone” well involving multiple horizontal branches has been drilled and commissioned at the Prirazlomnaya offshore rig — the only project on the Russian Arctic shelf at which commercial oil production is currently ongoing. ...»

Lukoil drills first 1,000 m of exploration well 1P at Taymyr

LUKOIL has drilled 1,000 m of its first exploration well on the Vostochno-Taymyrsky license block. About 374 m of core samples from eight formations will be collected and analyzed during drilling. ...»

Permian growth overwhelms pipeline capacity

According to Energy Security Analysis’ North America Watch, production of crude oil from the Permian basin will continue to outpace pipeline capacity in the region. ...»

Exxon's dividend tradition faces challenge as oil sputters

Exxon Mobil Corp. has boosted it’s dividend every April for at least a decade, delivering more than $98 billion directly to shareholders. This year, the payout will likely rise again. The open question is by how much. ...»

Indonesia bets on $200-billion investment to boost energy output

Indonesia plans to overhaul its energy policy to attract investment of as much as $200 billion over the next decade as the former OPEC member seeks to reverse a decline in its crude oil production. ...»

SandP downgrades Abu Dhabi's Taqa, questions state support

Abu Dhabi National Energy Co. had its credit rating cut one level to A- by Standard and Poor’s, which cited what it sees as increased risks to state support for the utility known as Taqa. ...»

Argentina's push to mimic Permian success faces long road ahead

Argentina’s Vaca Muerta, one of the largest shale formations outside of North America, offers tons of promise for the country’s energy future. Just don’t hold your breath waiting for it. ...»

AGR set to deliver reservoir management to the Norwegian Petroleum Directorate

AGR has been awarded a new framework agreement with the Norwegian Petroleum Directorate (NPD). ...»

Schlumberger and Sound Energy expand cooperation in Morocco

Sound Energy, the African and European-focused upstream gas company, has announced the signature of binding heads of terms with Schlumberger, which will expand Sound Energy's relationship with Schlumberger into Meridja and the Tendrara relinquished area(s), in exchange for a full carry on Sound Energy's forthcoming Eastern Moroccan geophysical survey program, estimated at $27.2 million and subject to completion of the Company's recently announced acquisition of these interests from Oil and Gas Investment Fund S.A.S. ...»

Aqualis Offshore contracted to provide Bahrain floatover

Aqualis Offshore has been contracted by South Korean OCEANUS Co. Ltd. to provide specialist floatover services for an LNG regasification platform topside offshore Bahrain. ...»

Oil veteran says OPEC needs year to pull off elusive mission

OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst. ...»

Oil steadies after six-day slide as U.S. stockpiles seen falling

Oil halted a six-day slide before U.S. government data that’s forecast to show crude stockpiles fell for a third week. ...»

Russia reemerges as China's top oil supplier

Russia retook the top spot from Saudi Arabia in crude supplies to China last month as OPEC producers are flirting with the possibility of extending a deal to curb production. ...»

Russia's oil cuts won't be so easy if OPEC deal is extended

For Russian oil companies, the agreement to boost prices by cutting output in conjunction with OPEC was an easy win. Extending the deal will be less straightforward. ...»

New ABS guidance addresses dropped objects

ABS, provider of classification and technical services to the offshore industry, has provided a systematic approach to dropped object management and prevention. ...»

Alberta's McCuaig-Boyd sees glass half-full in oil-sands deals

The $20 billion of oil-sands assets that Canadian producers bought from foreign companies in a recent spate of deals shows they’re doubling down on their operations and the region’s resources, Alberta Energy Minister Marg McCuaig-Boyd said. ...»

Seismic data resellers launch microsite for online buyers’ marketplace

SeismicZone.com online data marketplace launched its first microsite for seismic data owners to market their proprietary data from their own corporate website. ...»

New ABS guidance addresses dropped objetcs

ABS, provider of classification and technical services to the offshore industry, has provided a systematic approach to dropped object management and prevention. ...»

South Sudan blocks open for direct negotiation, following collapse of talks with EandP companies

Representing the Government of South Sudan, the Ministry of Petroleum has announced that it is welcoming the interest of investors for direct negotiations on oil and gas in Blocks B1 and B2. The announcement comes after negotiations broke down with the French oil and gas company Total EandP, due to irreconcilable differences. ...»

Return Energy acquires Rycroft area gas production in Alberta

Return Energy Inc. has acquired, through its wholly-owned subsidiary, Winslow Resources Inc., certain partner interests in its core area of Rycroft, north of Grande Prairie, Alberta, for cash consideration of $750,000 (subject to final adjustments). ...»

Lundin Norway completes drilling of Edvard Grieg appraisal well

Lundin Norway AS, operator of production licence 338, has completed the drilling of appraisal well 16/1-27 at Edvard Grieg field in the central part of the North Sea. ...»

Shell and four European energy companies sign financing agreement with Nord Stream 2 AG

Shell and four European companies – ENGIE, OMV, Uniper and Wintershall – signed financing agreements with Nord Stream 2 AG, the company responsible for the planning, construction and future operation of the Nord Stream 2 pipeline. ...»

Lukoil produces 2 million tonnes at Vladimir Filanovsky field

LUKOIL has reached another milestone with 2 million tonnes of oil, produced at Vladimir Filanovsky field in the Caspian Sea. ...»

BP awards FEED contract for Cassia Compression Project offshore Trinidad and Tobago

Fluor Corporation has announced that it was selected by BP Trinidad and Tobago (BP) to perform the front-end engineering and design (FEED) for the Cassia Compression Project off the east coast of Trinidad and Tobago. Fluor booked the undisclosed contract value into backlog during first-quarter 2017. ...»

TGS announces Crean 3D multi-client project in Ireland

TGS announces new multi-client acquisition project, Crean 3D on the Irish Atlantic Margin. ...»

Oil investors raise bets on higher price and lose in selloff

The shale boom is making it hard to be an oil optimist. ...»

Chevron announces planned sale of Bangladesh companies

Chevron announced that its wholly-owned subsidiary, Chevron Global Ventures, has entered into an agreement to sell the shares of its wholly-owned indirect subsidiaries operating in Bangladesh. ...»

Oil rises after five-day slide as markets rally and OPEC cuts

Oil rose for the first time in six days as OPEC to backed prolonging supply cuts and other markets rallied after the first round of French presidential elections. ...»

Mexico seeks new home for its oil amid weak Gulf Coast demand

Shipments of crude to the U.S. from Mexico fell to a new low last week, extending a trend that goes back to when the Energy Information Administration began compiling preliminary weekly import data in June 2010. ...»

Exxon won't get drilling waiver for Russia, Treasury Chief says

Exxon Mobil Corp. won’t be allowed to bypass U.S. sanctions against Russia to resume drilling for oil in a joint venture that seeks to tap billions of barrels of that country’s crude. ...»

Oil falls below $50 as surging U.S. output undermines OPEC cuts

Oil fell below $50/bbl as investors lost faith that an extension of OPEC-led supply cuts will overcome growing U.S. production and ease a global glut. ...»

API: March petroleum demand highest since 2008

Total petroleum deliveries in March moved up 0.2% from March 2016 to average nearly 19.7 MMbpd. These were the highest March deliveries in nine years, since 2008. ...»

Growth in Europe’s demand for Russian gas confirms importance of Nord Stream 2

A working meeting between Alexey Miller, chairman of the Gazprom management committee, and Rainer Seele, chairman of the executive board of OMV, took place in Moscow on April 20th. ...»

White House's Cohn wants to see `more and more' U.S. LNG terminals

If Gary Cohn gets his way, the U.S. could be the biggest exporter of liquefied natural gas in the world. ...»

Schlumberger, Baker Hughes awarded key contracts for Cambay core analysis in India

Oilex Ltd. has announced the award of two key contracts to Schlumberger and Baker Hughes as part of its 2017 work program at the Cambay PSC in India. Schlumberger and Baker Hughes will advise on the optimal well and stimulation design required to achieve potential commercial flowrates. ...»

Pence hails $10 billion in Indonesia deals, from Exxon to GE

Vice President Mike Pence announced 11 major deals valued at more than $10 billion between U.S. and Indonesian companies, mostly in energy and defense. ...»

Goldman says ignore the technical, savor the fundamental on oil

Goldman Sachs Group says there’s no fundamental evidence in the oil market to justify this week’s selloff in prices. ...»

Oil set for biggest weekly loss since early March on U.S. supply

Oil headed for its biggest weekly loss since early March as signals from OPEC that it will persevere with output cuts failed to offset evidence that U.S. supplies are plentiful. ...»

Patterson-UTI Energy completes merger with Seventy Seven Energy

Patterson-UTI Energy announced today that it has closed its merger with Seventy Seven Energy Inc. stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued Patterson-UTI common stock in exchange for each share of Seventy Seven Energy. ...»

BP Gulf oil spill damage valued at $17.2 Billion in new study

BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish, and coral that the public values at $17.2 billion, according to a financial accounting released on the seventh anniversary of the disaster. ...»

Exxon gets backing of GOP-led states in fight over climate probe

Texas Attorney General Ken Paxton and 10 of his Republican counterparts are joining forces in court to help derail a probe into whether Exxon Mobil Corp. misled investors about climate change. ...»

Gulf of Mexico is equally important as Permian for U.S. oil production, Rystad says

Since the early days of U.S. shale development, we have observed impressive efficiency and well productivity gains realized by EandP companies. These gains were triggered by a gradual learning process, optimization of completion techniques and well configuration, and high grading of drilling locations and equipment. ...»

Over 6 Bcm of hydrocarbons reportedly produced from Vietnam's Moc Tinh and Hai Thach fields since 2003

A working meeting between Alexey Miller, chairman of the Gazprom management committee, and Nguyen Vu Truong Son, CEO and member of the board of directors of Vietnam Oil and Gas Group (PetroVietnam), took place in Moscow on April 19th. ...»

Statoil receives consent for exploration drilling in Barents Sea

Statoil is the operator for production license 532 in the Barents Sea and has received consent to drill exploration well 7219/9-2 in a prospect named Kayak. ...»

Trendsetter Engineering, Add Energy awarded contract for high-flow dynamic kill operations

Trendsetter Engineering and Add Energy have combined expertise to provide market leading engineering and hardware support services to the industry’s most challenging problems in a nimble and responsive environment. ...»

Eni-operated Libyan oil field said to reopen after two-year halt

Libya’s El-Feel oil field, operated by a venture between Eni SpA and the state producer, reopened after a two-year halt in operations that crimped the OPEC nation’s output, according to a person familiar with the situation. ...»

Encana reports plans to maximize value of condensate-rich Montney asset

Encana continues to successfully advance its five-year plan, which it expects will deliver industry-leading cash flow growth and returns. The company's Montney asset plays an integral part in this plan and will contribute significant high-value condensate, non-GAAP cash flow and margin growth ...»

Oil trades near two-week low as OPEC plans vie with supply gain

Oil traded near its lowest in two weeks as comments from some OPEC producers that the group will extend output cuts were undermined by signs of rising supply. ...»

Norway's labor seeks to soothe oil industry amid Lofoten shift

Norway’s oil industry has nothing to fear from a return to power of the Labor Party in elections later this year, according to the deputy leader of the biggest opposition group. ...»

Oil stockpiles grow despite OPEC's cuts

When OPEC and Russia meet next month to assess the impact of their oil cuts they face a surprising outcome: stockpiles are even higher than when they started. ...»

Oman oil seeking banks to help sell assets amid Aramco IPO

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public. ...»

OPEC reachs initial deal to extend output cuts

A number of major crude-producing countries reached an agreement to extend output cuts as persistently high stockpiles weigh on prices. ...»

Oil-sands operators bet on local advantage as U.S. partners flee

Now that multinational energy producers have sold their stakes in Canada’s oil sands, local companies are hatching plans to make some real changes. ...»

Major oil producers reach initial deal to extend output cuts

Several major crude-producing countries reached an agreement to extend output cuts as persistently high stockpiles weigh on prices. ...»

Russia seen extending production cuts to support price rally

MOSCOW (Bloomberg) -- Russia is likely to support extending a multinational deal to cut oil output as higher prices boost revenue in the run-up to next year’s presidential election. ...»

EPA chief takes first step in reversing Obama-era methane rule

U.S. environmental chief Scott Pruitt announced plans to roll back an Obama-era methane rule expected to cost oil and natural gas operators $320-$530 million a year. ...»

Wind powered oil recovery concept moves closer to implementation

The DNV GL-led joint industry wind powered water injection project (WIN WIN), has completed its first phase and determined that wind power could be used to power offshore water injection. ...»

Energy Transfer's latest woe is 50,000-bbl spill

Add almost 50,000 bbl of drilling fluids released into Ohio wetlands to the issues that have plagued Energy Transfer Partners LP’s $4.2 billion Rover natural gas pipeline. ...»

Oil falls to two-week low as gasoline supply rises, dollar gains

Oil dropped to a two-week low after a report showed U.S. gasoline supplies gained for the first time in nine weeks as crude output rose. ...»

Abu Dhabi's Taqa seeking to sell energy assets in North America

Abu Dhabi National Energy is generating cash from overseas oil and natural gas operations and wants to sell some higher-cost wells in North America after reporting a record $5.2 billion loss last year. ...»

KLAW launches new marine breakaway coupling

The Marine2, launched by KLAW, is 32% shorter and 25% lighter than alternative marine breakaway couplings on the market and is designed to reduce stress on hoses used on offshore hose reel applications. ...»

Wintershall Noordzee announces first oil at Ravn field in Danish North Sea

Wintershall Noordzee B.V. has commenced production from its first own-operated Danish oil field. Ravn field (Block 5/06) produces oil from a depth of approximately 4,000 m via a newly constructed production platform in the Danish North Sea, some 300 km North of the Dutch town of Den Helder. ...»

McKinsey Energy Insights releases Global Oil Supply and Demand Outlook to 2030

McKinsey Energy Insights (MEI), the data and analytics specialist that provides insight and support to the global energy industry, has released its latest Global Oil Supply and Demand Outlook, which identifies five potential supply and demand scenarios. If the market was to follow MEI’s business as usual scenario, it would expect oil prices to revolve around $60–$70/bbl over the next three years and balance close to $65–$75/bbl by 2030. ...»

Iran may keep same oil output If others extend cuts, Kuwait says

Iran will probably be allowed to keep its oil production unchanged if OPEC decides to extend its six-month agreement on output cuts beyond June, Kuwaiti Oil Minister Issam Almarzooq said. ...»

TechnipFMC, DOF Subsea JV delivers Skandi Búzios, commences contract with Petrobras

TechnipFMC and DOF Subsea announce that the Skandi Búzios, a pipelay support vessel (PLSV) owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its eight-year charter contract with Petróleo Brasileiro S.A. (Petrobras), as scheduled on April 13, 2017. ...»

Norway's oil problem sets election stage after spending binge

Norway can’t afford an abrupt cut in spending if the economy of western Europe’s biggest oil and gas producer is to continue growing, according to the man who most polls suggest will be prime minister after elections this year. ...»

Energy Transfer's latest pipeline woe is a 50,000-bbl spill

Add almost 50,000 bbl of drilling fluids released into Ohio wetlands to the issues that have plagued Energy Transfer Partners LP’s $4.2 billion Rover natural gas pipeline. ...»

Trelleborg provides buoyancy to new deepwater ROV

Trelleborg’s applied technologies operation has engineered and manufactured a custom syntactic foam buoyancy package for the Schmidt Ocean Institute for use on its new remotely operated vehicle (ROV), SuBastian. ...»

OPEC chief sees oil producers closer to re-balancing market

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market the group’s Secretary-General Mohammad Barkindo said. ...»

Australia's LNG export deals face review amid gas crisis at home

Australia’s competition regulator said the possible sale of natural gas intended for the country’s domestic market to overseas customers instead must be reviewed amid high wholesale prices at home. ...»

Huisman celebrates 10-year anniversary of Chinese production facility

Huisman, a lifting, drilling and subsea solutions company, celebrated the 10-year anniversary of its Chinese production facility, Huisman China, on April 17. ...»

Lukoil invests in environmental protection activities in Yamal-Nenets Autonomous District

LUKOIL will spend more than 500 million rubles on environmental protection activities in the Yamal-Nenets Autonomous District in the next three years. ...»

Brunei Shell Petroleum recognized for 50 years of service with Sikorsky helicopters

Sikorsky today recognized Brunei Shell Petroleum (BSP) for 50 years of continuous service with Sikorsky helicopters. The recognition event took place at the inaugural 2017 Rotorcraft Asia show. Sikorsky is a Lockheed Martin company. ...»

FMS, Interocean Marine Services align to form FMS Interocean

An international mooring firm has boosted its multi-million-pound inventory value after securing an additional £5million of offshore equipment, as part of an alliance deal with a global marine services company. ...»

Oil falls to one-week low on signs of rebound in U.S. production

Oil dropped to the lowest in more than a week on signs U.S. output is rebounding, undermining OPEC’s efforts to clear a global glut. ...»

Sound Energy announces mobilization of rig to Sidi Moktar, Morocco

Sound Energy, the African and European focused upstream gas company, is pleased to announce the mobilization of a rig to the Company's Sidi Moktar asset, onshore Morocco. ...»

Operators finally embrace digital technologies to improve production efficiency

The counterbalanced pumping unit is still working hard lifting oil out of the ground. However, algorithms now adjust flow based on computer monitoring. ...»

Patterson-UTI's Siegel takes advice from Roy Disney, to prove share sellers wrong

You wouldn’t think an oilman would draw inspiration from Roy Disney, whose uncle turned a cartoon mouse into a U.S. icon, when things get tough. But that’s exactly what Mark Siegel, the chairman of Patterson-UTI Energy Inc., said he did on Dec. 13, when his company’s value plunged the day after it announced a $1.4 billion deal for rival Seventy Seven Energy Inc. ...»

Blackstone bets there's gas money to be made in the oil patch

The oil boom in the Permian basin, America’s most prolific crude play, has become a gas boom. ...»

Saudi oil exports hit 21-month low as kingdom sticks to cuts

Saudi Arabia cut exports to a 21-month low in February as local refineries took advantage of more abundant supplies and processed a record amount of crude. ...»

Citigroup sees $60 oil as OPEC combats roaring U.S. shale

Citigroup predicts oil will probably rally to the mid-$60s by the end of the year. ...»

AADE ’17: Constructing better wells can increase integrity during fracturing, reduce production problems

As the North American shale revolution has evolved, spawning new technologies and strategies for drilling and completing horizontal wells with longer laterals and increased frac staging, the upstream oil and gas industry is still learning how to construct wells for maximum, long-term production. ...»

SDX Energy strikes pay at South Disouq concession in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, announced that drilling on the carried SD-1X well at its South Disouq concession, where it hold s a 55% equity interest and is operator in the Nile Delta area of Egypt has reached its first target depth. ...»

BP kills Alaska well after capping oil, natural gas leaks

A BP well on Alaska’s North Slope is no longer leaking crude oil or natural gas, a spokeswoman said Monday. Environmentalists, describing the well as "out of control,” called on the state to investigate. ...»

Exxon, Shell join Ivanka Trump to defend Paris climate accord

As President Donald Trump contemplates whether to make good on his campaign promise to yank the United States out of the Paris climate accord, an unlikely lobbying force is hoping to talk him out of it: oil and coal producers. ...»

Crude falls as rising rig count seen boosting U.S. production

Crude declined below $53/bbl as the ramp-up of shale drilling spurred speculation that surging American output will offset OPEC-led efforts to cut a global supply surplus. ...»

North Sea crude production growth to halt after 2017

In 2017, North Sea crude and condensate production will increase by roughly 50,000 bpd to an average of almost 2.9 MMbpd according to ESAI Energy’s newly published Europe Watch report. ...»

SDX Energy strikes pay at its South Disouq concession in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, announced that drilling on the carried SD-1X well at its South Disouq concession, where it hold s a 55% equity interest and is operator in the Nile Delta area of Egypt has reached its first target depth. ...»

Crude losses ease as dollar drop offsets U.S. drilling boom

Oil eased losses as growth in U.S. drilling was partially offset by a weaker dollar. ...»

ABS breaks ground on new global headquarters in Houston

ABS, provider of classification and technical services to the marine and offshore industries, has broken ground on its new global headquarters. ...»

Blackstone to buy Permian Basin pipelines for $2 billion

Blackstone Group LP agreed to acquire pipeline company EagleClaw Midstream Ventures for about $2 billion in cash, the latest deal in the prolific Permian Basin of West Texas. ...»

Canadian oilfield services still struggle, even as producers ramp up

The worst may not be over for everyone in Canada’s oil patch even as crude prices show signs of stability. ...»

Daewoo shipbuilding's bailout plan cleared by pension fund

Daewoo Shipbuilding and Marine Engineering Co., the world’s largest shipbuilder, won a reprieve from major bondholder National Pension Service and other lenders, helping avert a payment crisis that had threatened to almost shut the company. ...»

Queensland may expand land quarantine to fix local gas shortfall

The state of Queensland may expand the amount of land available for gas exploration to overcome looming gas shortages and high prices on the east coast of Australia. ...»

BP North Slope well leaking gas after crude oil spray stops

A well operated by BP Exploration Alaska Inc. on Alaska’s frigid North Slope is no longer spraying crude oil after leaks were discovered Friday morning. ...»

BP Trinidad and Tobago starts up onshore compression project

BP Trinidad and Tobago announced the start-up of the Trinidad onshore compression (TROC) project - one of seven major upstream projects BP expects to bring online in 2017. ...»

North Sea crude production growth halts after 2017

In 2017, North Sea crude and condensate production will increase by roughly 50,000 bpd to an average of almost 2.9 MMbpd according to ESAI Energy’s newly published Europe Watch report. ...»

Oil patch servicers still struggle as Canadian producers ramp up

The worst may not be over for everyone in Canada’s oil patch even as crude prices show signs of stability. ...»

Bullish oil bets gain on signs OPEC cuts to outdo U.S. boom

OPEC is finally making some headway in its race against the tide of surging U.S. supplies, and speculators are giving the group greater credence. ...»

Aramco CEO sees oil market closer to balance, despite U.S. boom

The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. CEO Amin Nasser said. ...»

Iran boosts gas output capacity with new projects at giant field

Iran, holder of the world’s biggest natural gas reserves, boosted output by inaugurating six projects at the giant South Pars offshore field. ...»

Billionaire bets on old-school energy in $3-billion Conoco deal

With a $3-billion purchase from ConocoPhillips, billionaire oilman Jeffrey Hildebrand is once again trying to succeed in a corner of the oil and gas world others are leaving behind. ...»

Schlumberger enters JV with YPF to begin shale oil pilot project in Vaca Muerta

Schlumberger President of Operations, Patrick Schorn, and YPF Chairman, Miguel Ángel Gutiérrez, have signed an agreement to start a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, Neuquén. ...»

CNOOC signs PSC with Husky Oil for Block 16/25 in South China Sea

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed production sharing contract (PSC) with Husky Oil Operations Limited for Block 16/25 in the South China Sea. ...»

Rosneft acquires assets in Khanty-Mansiysk Autonomous District for $700 million

Rosneft closed the acquisition of a 100% stake in the Kondaneft project, which is developing the Kondinsky, Zapadno-Erginsky, Chaprovsky and Novo-Endyrsky license areas in the Khanty-Mansiysk Autonomous District. ...»

ABS research establishes firm foundation for jackup moves

ABS, provider of classification and technical services to the offshore industry, has issued the ABS Guidance Notes on Geotechnical Performance of Spudcan Foundations, encompassing the results from multiple targeted jackup research initiatives. ...»

Bankers' fading fear of oil lending is latest boon for shale

Wall Street banks’ growing optimism about the energy industry is the latest boost for U.S. oil and natural gas producers already enjoying higher prices. ...»

Gazprom builds 15 exploratory, development wells in Bangladesh in four years

A working meeting between Alexey Miller, chairman of the Gazprom Management Committee, and Abul Hassan Mahmood Ali, minister of foreign affairs of the People’s Republic of Bangladesh, took place in Moscow. The parties expressed their appreciation for the Company’s efforts in Bangladesh. ...»

BP starts up Trinidad onshore compression project

BP Trinidad and Tobago LLC (bpTT) has announced the start-up of the Trinidad onshore compression (TROC) project, one of seven major upstream projects BP expects to bring online in 2017. ...»

Fairway Energy Partners' Houston crude storage facility commences commercial operations

Fairway Energy Partners, LLC (Fairway) today announced that it has commenced initial commercial operation at its Pierce Junction Crude Oil Storage Facility. ...»

Gazprom Neft begins development of oil stratum at Novoportovskoye field

Gazprom Neft has completed drilling of its first production well within the NP-8 stratum at its Novoportovskoye field. ...»

USGS estimates 304 tcfg in Bossier, Haynesville formations of U.S. Gulf Coast

The Bossier and Haynesville Formations of the onshore and U.S. waters portion of the U.S. Gulf Coast contain estimated means of 4 billion bbl of oil, 304.4 tcfg, and 1.9 billion bbl of natural gas liquids, according to updated assessments by the U.S. Geological Survey. ...»

Gazprom Neft begins development of new oil stratum at Novoportovskoye field

Gazprom Neft has completed drilling of its first production well within the NP-8 stratum at its Novoportovskoye field. ...»

Mohawk Energy introduces new patch accessories

Mohawk Energy, a developer of tubular expansion technologies, today announced the launch of ThruPatch custom accessories. ...»

Delmar Systems announces changes to Houston engineering staff

Delmar Systems, Inc. has announced two changes within the engineering group based in Delmar’s office in Houston, Texas. ...»

BP Trinidad and Tobago starts up Trinidad onshore compression project

BP Trinidad and Tobago LLC (bpTT) has announced the start-up of the Trinidad onshore compression (TROC) project, one of seven major upstream projects BP expects to bring online in 2017. ...»

Lukoil brings platform topside to Caspian Sea

Lukoil commenced transportation of the topside of a fixed offshore ice-resistant platform (LSP-2), intended for Phase 2 of Vladimir Filanovsky field in the Caspian Sea. ...»

GEODynamics releases new perforating technology for diversion

GEODynamics, Inc.’s Engineered Perforating Solutions Division has begun field testing of the latest addition to the family of multi-stage-plug-and-perf products. ...»

Aker BP receives consent to drill exploration well offshore Norway

Aker BP ASA is the operator of production licence 442 in the North Sea. Aker BP has made a discovery in a prospect named Frigg Gamma Delta, around 20 km east of the Frigg field. ...»

Wood Group awarded new automation contract with TPC Group

Wood Group has been awarded a new three-year contract valued at $8 million to deliver process automation engineering services to TPC Group, a leading producer of value-added products derived from C4 hydrocarbons. ...»

SEG releases revision to SEG-Y data-exchange format

The Society of Exploration Geophysicists has released a major update to the venerable SEG-Y workhorse seismic data exchange standard. ...»

Oil from U.S., Saudis: Top buyers get what they want

Buyers in the world’s biggest oil market are finding they can almost always get what they want, at a time when they weren’t expected to get what they need. ...»

Turkey sees no need for Cyprus to approve Israel gas pipeline

A Turkey-Israel gas pipeline deal could be built through Cyprus’ economic waters even without Cypriot consent, a Turkish official said, dismissing what some experts see as a key obstacle to an energy deal between the two Mediterranean countries. ...»

China takes crude crown as output lags behind rising demand

China’s record oil imports in March helped it top the U.S. as the world’s biggest buyer during the first quarter. ...»

ConocoPhillips announces agreement to sell San Juan basin assets

ConocoPhillips announced it has entered into a definitive agreement to sell its interests in the San Juan basin to an affiliate of Hilcorp Energy Co for up to $3.0 billion. ...»

Oil stocks rose despite OPEC cut, IEA says

Global oil inventories increased despite OPEC’s near-perfect implementation of production cuts. ...»

IEA says stockpiles climbed despite OPEC cuts

Oil held losses after the IEA said global inventories expanded in the first quarter, even as OPEC and its allies cut supply. ...»

Oil holds loss as IEA says stockpiles climbed despite OPEC cuts

Oil held losses after the IEA said global inventories expanded in the first quarter, even as OPEC and its allies cut supply. ...»

OPEC says oil inventories fell, sees stronger shale rebound

OPEC said oil inventories shrank in developed nations as its production cuts took effect, yet forecast that rivals in the U.S. shale industry are growing stronger. ...»

Crude little changed as U.S. supplies decline, output rises

Crude was little changed after a government report showed U.S. stockpiles dropped from a record while production increased. ...»

EIA: GOM oil production, already at annual high, expected to continue increasing

U.S. crude oil production in the Federal Gulf of Mexico (GOM) set an annual high of 1.6 MMbpd in 2016, surpassing the previous high set in 2009 by 44,000 bpd. ...»

Goldman Sachs still confident in crude

“We forecast that inventories will continue to decline driven by the combination of production cuts and the strong demand growth,” the analysts wrote, referring to oil. The bank reiterated its outlook for U.S. West Texas Intermediate to rise to $57.50/bbl and Brent crude to $59/bbl in the second quarter. ...»

No easy fix for Venezuela oil as production declines

A turnaround for Venezuela’s oil industry, the lifeblood of the South American country’s ailing economy, would take at least two years under the best of circumstances. ...»

Emerson donates reservoir characterization software to Indian universities

Emerson Automation Solutions has donated licenses of its reservoir characterization and engineering software, Roxar RMS and Roxar Tempest, to two prominent Indian universities, the Graphic Era University (GEU) in Dehradun and the Maharashtra Institute of Technology (MIT) in Pune. ...»

Enterprise sets record for volumes at Texas Gulf Coast marine terminals

Enterprise Products Partners L.P. has announced that the combined exports and imports of hydrocarbons across its marine terminals, including 18 deepwater docks along the Texas Gulf Coast, totaled a record 146 MMbbl on a gross basis during the first quarter of 2017. ...»

Shell publishes 2016 sustainability report

Royal Dutch Shell has published its sustainability report for 2016 which describes how it is working responsibly to help meet the world’s growing demand for more and cleaner energy. ...»

Oman Oil said to seek strategic advice amid Aramco IPO plans

Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks on strategic options for its business, according to people familiar with the matter, following plans by larger peer Saudi Arabian Oil Co. to sell shares to the public. ...»

Lukoil completes 3D seismic acquisition at West Qurna-2, Iraq

Lukoil has completed a field 3D seismic survey at West Qurna-2 field in Iraq. The survey covered an area of about 450 km2. ...»

Billionaire creates BHP-style Indian resources major

Anil Agarwal has sealed the merger of his mining and energy businesses in India, creating a BHP Billiton Ltd.-like resources conglomerate, even as a recent investment in Anglo American Plc raises questions about how far the billionaire’s ambitions stretch. ...»

Abu Dhabi's Mubadala raises $1.5 billion ahead of IPIC merger

Mubadala Development Co., the Abu Dhabi sovereign wealth fund merging with International Petroleum Investment Co., raised $1.5 billion through a dual-tranche bond after receiving almost four times that amount in bids, people familiar with the matter said. ...»

Aker BP produced 145,300 boed in first quarter of 2017

...»

Options traders place `butterfly' bets that oil rally is not over

Options trading is signaling that the longest rally in U.S. crude oil since December has a few dollars to go. ...»

Oil set for longest gain since 2012 as Saudis seen extending cut

Oil advanced for an eighth day in London, the longest gain since 2012, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as stockpiles show signs of shrinking. ...»

BHP CEO rejects oil spinoff for third time after Singer demand

The previous two times BHP Billiton boss Andrew Mackenzie ran his ruler over the company’s $29-billion oil unit he decided it was still a good fit for the world’s biggest miner. ...»

AADE 2017: Senior drilling engineers urged to continue student mentorship

Every great drilling engineer, at one time, most likely had a great mentor, who provided him or her with help and support when it was needed most. ...»

Harvest Natural Resources sells Gabon interests, Delta Petroleum note paid

HNR Energia B.V., a wholly-owned subsidiary of Harvest Natural Resources, Inc. closed the sale of all of its Gabon interests in accordance with a previously announced sale and purchase agreement dated Dec. 21, 2016 among Harvest, HNR Energia B.V. and BW Energy Gabon Pte. Ltd, a private Singapore company. ...»

OriginClear announces pilot program for Sinopec shale gas site in China

OriginClear Inc. has announced it is entering into a partnership with a regional organization in the Chinese province of Shandong for remediation of a shale gas site operated by the government-owned Sinopec Group, Asia's largest oil and gas company. ...»

Messoyakhaneftegaz exloring potential for underground gas storage

Messoyakhaneftegaz, a joint enterprise between Gazprom Neft and Rosneft, has obtained a licence from Rosnedra (the Federal Subsoil Resources Management Agency), for geological investigations and a suitability assessment at the Zapadno-Messoyakhsky licence block regarding the construction and commissioning of an underground gas storage facility. ...»

Drillinginfo announces alliance with MineralSoft

Drillinginfo, an oil and gas SaaS and data analytics company, announced today a new strategic collaboration with MineralSoft, a software platform designed to make managing mineral, royalty and non-operated working interests easier and more profitable. ...»

North Sea expected to see 30 crude, natural gas projects start operations by 2020, says GlobalData

Despite the low cycle that the market is facing, a total of 30 crude and natural gas projects are expected to start operations in the North Sea by 2020. ...»

Packers Plus optimizes completions for Montney operator with hybrid cemented technology

Packers Plus Energy Services Inc. has announced the ongoing success of cemented hybrid completions in Canada, using TREX Cemented Diffusor Sleeves and Hydraulic Toe Sleeves in combination with other completion methods. ...»

China opens delayed Myanmar pipeline for faster MENA oil

A crude pipeline to southwestern China through its neighbor Myanmar began operations after years of delays, allowing the world’s second-biggest oil user to receive supplies faster from the Middle East and Africa. ...»

Lloyd's Register wins inspection contract for Armada Olombendo FPSO, Angola

Lloyd's Register has won an inspection contract with Bumi Armada Berhad for their Armada Olombendo FPSO. ...»

Hansa Heavy Lift transports subsea equipment for offshore gas fields in Indonesia

Hansa Heavy Lift has successfully transported two dozen reels, as well as a range of subsea equipment for the Jangkrik Complex Project, off the coast of Indonesia. ...»

Drillers in biggest U.S. gas play get more bang for their buck

Natural gas drillers in America’s biggest shale play are getting more bang for their buck than ever before. ...»

Lundin Petroleum's international spinoff approved

In addition to shareholder approval, Lundin Petroleum received the regulatory consents and approvals to complete the internal reorganization of the Lundin Petroleum Group to spin-off its assets in Malaysia, France and the Netherlands into IPC. The reorganization was completed on April 7, 2017. ...»

Shell knew Nigeria ex-minister's company would get oil-deal cash

Royal Dutch Shell Plc said it knew some of the $1.1 billion paid to the Nigerian government in 2011 for an exploration license would go to a company linked to the country’s former oil minister, changing its previous stance on a deal that’s under investigation for alleged corruption. ...»

Wood Group secures design contract for Statoil's Snorre Expansion Project

Wood Group has been awarded a contract with Statoil to provide front end engineering design (FEED) to the subsea flowline system of the Snorre Expansion Project in the Norwegian North Sea. ...»

EMandI recieves first ODIN services agreement from Seadrill

EMandI has received a master services agreement from Seadrill, which will form the basis of its long-term relationship with Seadrill, one of the largest drilling contractors in the world. ...»

Lundin Petroleum completes Edvard Grieg appraisal well

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has completed the Edvard Grieg Southwest appraisal well 16/1-27. ...»

Oil steady before U.S. supply data after longest gain of 2017

Oil traded near $53/bbl after its longest winning streak this year as estimates showed a decline in record-high U.S. crude stockpiles. ...»

Libyan oil output said to drop to six-month low on field halt

Libya’s oil production fell by 30% to the lowest level since September as the OPEC producer’s biggest field stopped pumping just one week after reopening from an earlier halt. ...»

Saudi Arabia said to cut oil output to lowest since January

Saudi Arabia pared its oil production last month to the lowest since January, staying below the output level it pledged to maintain as part of a global deal to reduce crude supplies, according to a person with knowledge of the data. ...»

Pipeline built to survive extremes can't bear slow oil flow

Here at the top of the world, January brought a glimpse of the anxious future facing Alaska’s once-mighty oil pipeline. ...»

Singer's BHP gambit shines light on little-known oil giant

The usual suspects have planted their flags along the dusty byways of the Permian basin, declaring where they’ve staked claims. There are names like Royal Dutch Shell Plc, Anadarko Petroleum Corp., Pioneer Natural Resources Co. And, on signs fronting a barbed-wire fence, BHP Billiton Ltd. ...»

BSEE sponsors subsea bolt performance workshop, consensus study

The National Materials and Manufacturing Board of the National Academies of Sciences, Engineering and Medicine will conduct a workshop April 10-11 to discuss the causes of bolt material failures and possible options for reducing the risks associated with bolts in subsea oil and gas operations. ...»

API survey: U.S. shale drilling expenditures up in 2015

The domestic oil and natural gas industry spent an estimated $122.8 billion in drilling approximately 28,809 oil and natural gas wells in 2015, according to API’s 2015 Joint Association Survey on Drilling Costs. ...»

Algeria's Sonatrach, Total sign partnership agreement

Sonatrach, Algeria’s state energy company, and Total, have signed a comprehensive agreement strengthening the existing partnership between the two companies. ...»

EXCO Resources divests South Texas oil, gas properties for $300 million

EXCO Resources, Inc. has announced the execution of a definitive agreement with a subsidiary of Venado Oil and Gas, LLC, an affiliate of KKR, to divest its oil and natural gas properties in South Texas. ...»

Putin awards Glasenberg "Order of Friendship" after Rosneft deal

Russian President Vladimir Putin awarded state honors to executives at Glencore Plc, the Qatar Investment Authority, and Intesa Sanpaolo SpA months after the $11 billion deal to buy a minority stake in state oil company Rosneft PJSC. ...»

Oil set for longest gain this year

Crude headed for its longest run of gains this year as Libya’s biggest oil field suffered another outage while Russia signaled it’s weighing an extension of OPEC-led production cuts. ...»

Wood Group secures new engineering contract with Premier Oil in UK

Wood Group has been awarded a contract by Premier Oil to deliver front end engineering design (FEED) to the Tolmount offshore field development in the Southern North Sea. ...»

Tillerson travels to Moscow after Syria strike

After enduring weeks of criticism that he’s been silent and sidelined in the Trump administration, Rex Tillerson travels to Moscow newly emboldened by the U.S. decision to drop 59 Tomahawk missiles on an airbase in Syria. ...»

Junk-bond investors can't make up their mind about oil prices

At the start of this year, credit investors undertook a conscious uncoupling from oil prices. As the cost of a barrel of West Texas Intermediate leaped in the wake of the production cut agreement announced by OPEC in November, a measure of junk-rated bonds lagged behind. ...»

Oil set for longest gain this year as biggest Libyan field halts production

Crude headed for its longest run of gains this year as Libya’s biggest oil field suffered another outage while Russia signaled it’s weighing an extension of OPEC-led production cuts. ...»

Summer driving expectations excite oil investors

Summer may be a few months away but oil investors are already getting their hopes up that American drivers will do their part to rebalance the market. ...»

India oil demand shrinks for third month amid demonetization drag

India’s oil consumption fell for a third straight month, with the use of bitumen and naphtha declining and diesel demand growth flat, amid the continuing effects of demonetization. ...»

Icahn spat leads to billion-dollar fortune for gas pioneer Souki

Charif Souki has been chasing his fortune in the energy business for two decades. It took getting fired by billionaire Carl Icahn for him to hit paydirt. ...»

BHP urged by Elliott to spin off U.S. oil unit in overhaul

BHP Billiton is being targeted for an overhaul by occasional activist Elliott Management Corp., which urged the world’s biggest mining company to spin off about $22 billion of U.S. oil assets and list them in New York. ...»

Old guard calls foul on sweeter LNG deals luring new buyers

Buyers in the world’s largest liquefied natural gas markets are concerned upstarts are winning better deals than traditional customers who helped underwrite the industry. ...»

Libya halts Sharara oil loadings as biggest field stops pumping

Libya’s biggest oil field stopped producing just one week after it reopened, forcing the OPEC member to declare force majeure at a key export terminal, the latest disruptions to the country’s output and shipments of crude. ...»

U.S. rig count climbs by 311 from March 2016

Baker Hughes announced today that the average U.S. rig count for March 2017 was 789, up 45 from the 744 rigs counted in February 2017, and up 311 from the 478 rigs counted in March 2016. ...»

Crude caps second weekly gain after U.S. strike against Syria

Crude capped a second weekly gain after briefly spiking on the first armed strike by President Donald Trump’s administration. ...»

AAPG’s ACE ’17: Plentiful supply can meet strong demand, but forecasts rarely certain, admits BP exec

Gone forever are the days when the world stressed over what would happen when humanity began running out of oil—a fear based on M. King Hubbert’s theory of peak oil—or the point in time at which the maximum rate of petroleum extraction occurred. ...»

DNOW announces exclusive international distribution agreement with Kimray Inc.

NOW Inc.’s U.S. subsidiary, DNOW L.P., is proud to announce its exclusive international distribution agreement with Kimray Inc. ...»

DNOW announces exclusive international distribution agreement with Kimray Inc.

NOW Inc.’s U.S. subsidiary, DNOW L.P., is proud to announce its exclusive international distribution agreement with Kimray Inc. ...»

Statoil granted drilling permit for wildcat southeast of Snøhvit field

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7121/8-1, cf. Section 8 of the Resource Management Regulations. ...»

Aker BP granted drilling permit for wildcat in licence 150 B

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for well 24/9-11 S, cf. Section 8 of the Resource Management Regulations. ...»

NOW Inc. announces exclusive international distribution agreement with Kimray Inc.

NOW Inc.’s U.S. subsidiary, DNOW L.P., is proud to announce its exclusive international distribution agreement with Kimray Inc. ...»

ABB enters into long-term frame agreement with Aker BP

Aker BP plans to execute field development projects on Aker BP-operated fields in a safe and very cost effective manner. The ambition is to increase the productivity, quality, flow and time efficiency throughout the value chain, and thereby increase the value creation and competitiveness. ...»

Aker Solutions secures engineering and procurement contract with Aker BP

Aker Solutions secured a framework agreement for as many as 10 years from Aker BP to provide engineering and procurement services for new offshore field installations. ...»

Alpha Petroleum enters into FEED study agreement for Teekay Offshore’s Varg FPSO

Alpha Petroleum Resources Limited, an upstream oil and gas operator focused on the UK sector of the North Sea and backed by private equity firm Petroleum Equity, has entered into a Front-End Engineering and Design (FEED) study agreement with Teekay Offshore Partners L.P. for its Varg Floating Production Storage and Offloading (FPSO) unit. ...»

Oil spikes as U.S. strike against Syria roils global markets

Oil jumped as the U.S. cruise-missile attack against Syria roiled global financial markets. ...»

Trump said to ready order to expand offshore oil drilling

President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity. ...»

Missiles hitting producer of 0.04% of global oil rocks crude

While Syria makes only 0.04% of global petroleum supplies -- less than Cuba, New Zealand or Pakistan -- it calls one of the world’s biggest producing regions its neighborhood. ...»

Trelleborg awarded contract for Catcher FPSO project

Trelleborg’s engineered products operation recently completed a milestone project for BW Offshore for the complete in-house design and fabrication of floating production, storage and offloading (FPSO) elastomeric bearing structures. ...»

Lamprell delivers jackup rig to be deployed offshore Thailand

Lamprell, a provider of fabrication, engineering and contracting services to the energy industry, is pleased to announce the completion of the Shelf Drilling Krathong jackup drilling rig and its delivery to Shelf Drilling Ltd., on schedule and within budget. ...»

Cairn announces results of sixth appraisal well at SNE field, offshore Senegal

Cairn has announced the results of the VR-1 well offshore Senegal. Rig performance continues to be excellent and operations have been safely and successfully completed ahead of schedule and under budget following the drilling and logging operations. ...»

Rystad Energy: Oilfield services see employment resurgence after downturn

Rystad Energy research shows a massive workforce reduction in the oilfield service industry during 2014 to 2016, but service companies within the shale business are now starting to recruit again and are expected to do so in offshore later this year. ...»

Shell announces conditional sale of LPG business in Hong Kong, Macau to DCC Energy

Shell has announced the conditional sale of its Liquefied Petroleum Gas (LPG) business in Hong Kong and Macau to DCC Energy for a total enterprise value of $150.3 million. ...»

Lukoil produces 40 Bcmg in Uzbekistan

Lukoil has reached a production landmark of 40 Bcmg at its projects in Uzbekistan. Most of this volume (about 82%) was produced from Khauzak-Shady and Kuvachi-Alat fields in the Bukhara Province. ...»

Wood Group wins Echidna field development contract with Karoon Petróleo and Gás

Wood Group was awarded a multi-year contract from Karoon Petróleo and Gás to provide owner’s engineering services to support the full field development for the Echidna field offshore Brazil marking the first project between the two companies. ...»

Crude rises as traders weigh OPEC cuts versus record U.S. supply

Crude rose as investors weighed record U.S. stockpiles against OPEC-led efforts to reduce the global oversupply. ...»

Kuwait best off, Nigeria worst, in Fitch's 2017 oil break-even forecast

Kuwait’s in the best position of major oil exporting nations in the Middle East, Africa and parts of Europe to have a balanced government budget this year with oil forecast to average $52.50/bbl, according to Fitch Ratings Ltd. ...»

Saudi Aramco said to raise $3 billion in debut 'sukuk' sale

Saudi Aramco is planning to raise 11.25 billion riyals ($3 billion) from its debut Islamic bond, according to a person with knowledge of the offering, boosting the size of the sale because of investor demand. ...»

Middle Eastern oil giant burning through cash pile

It was meant to be a given that a rebound in oil prices would slow the depletion of Saudi Arabia's foreign-currency reserves. That hasn't happened yet, and economists are wondering why. ...»

Canadian oil disruption sends ripples from Alberta to Louisiana

An ongoing disruption at Canada’s second-biggest oil sands upgrader has sent prices soaring from Alberta to Louisiana. ...»

Origin said to call for bids on oil, gas assets alongside IPO

Origin Energy Ltd., Australia’s largest electricity company, will formally seek bids for its conventional oil and gas assets while continuing preparations for an initial public offering of the unit, according to people with knowledge of the matter. ...»

Flood of U.S. oil to Asia comforts tanker market damaged by OPEC cuts

OPEC all but trashed the tanker market with its output cuts. That the damage hasn’t been even worse is thanks in large part to a flood of U.S. crude exports, particularly to Asia. ...»

Source Energy said to seek C$175 million in IPO, price cut

Source Energy Services Ltd., Canada’s largest distributor of fracing sand, or proppant, is seeking to raise C$175 million ($130 million) in an initial public offering, reviving the deal after it was postponed last month as oil prices fell, according to people familiar with the sale. ...»

Oil spread that rules trading flow seen aiding OPEC's rivals

A crude-price spread that rules over the flow of supply to the world’s biggest oil market will probably favor producers outside the Middle East at least until OPEC meets next month. ...»

China binging on African oil like never before after OPEC cuts

China is set to import record amounts of crude oil from West Africa this month as OPEC’s supply cuts pave the way for other nations to gain a greater foothold in the fast-growing Asian market. ...»

Oceaneering announces Anadarko Constellation umbilical contract

Oceaneering International has announced that it has secured a contract from Anadarko Petroleum to supply the umbilical for Anadarko’s Constellation subsea tieback in the U.S. Gulf of Mexico. ...»

RGU launches new online learning portal for the oil and gas industry

Robert Gordon University (RGU) has today launched a new set of online short courses to help professional development and address skills needs within the oil and gas industry. ...»

Source Energy said to seek C$175 million in IPO, in price cut

Source Energy Services Ltd., Canada’s largest distributor of fracing sand, or proppant, is seeking to raise C$175 million ($130 million) in an initial public offering, reviving the deal after it was postponed last month as oil prices fell, according to people familiar with the sale. ...»

BP cuts CEO’s maximum pay by $3.7 million to appease investors

BP Plc plans to cut CEO Bob Dudley’s maximum pay by as much as $3.7 million over the next three years as the oil producer tries to avoid a repeat of last year’s shareholder revolt. ...»

Qatar Petroleum, Exxon Mobil sign EandP PSA contract with Cyprus

DOHA -- Qatar Petroleum and Exxon Mobil signed an exploration and production sharing contract with the government of the Republic of Cyprus for offshore Block 10. ...»

Eni discovers gas, condensate offshore Libya

SAN DONATO MILANESE, Milan -- Eni has made a new discovery of gas and condensates offshore Libya in the ‘Gamma Prospect‘, in the Contract Area D, 140 km offshore from Tripoli, in Libya. ...»

AAPG kicks off 100-year anniversary celebration at ACE 2017 in Houston

HOUSTON -- AAPG President-elect Charles Sternbach opened the society’s Annual Convention and Exhibition in Houston on Monday morning ,in the Discovery Thinking session, saying that “geology is a science” but “exploration is a business.” In 1917, the AAPG was originally conceived as a “technology transfer” society, with learnings captured in the field translated to paper media and distributed to the geological community for application in analogous situations. ...»

Trelleborg launches new buoyant cable, flowline protection

Trelleborg’s offshore operation launches Buoyant Uraduct, a protection system for subsea cables, umbilicals, flowlines and hoses. ...»

DSME, DNV GL partner for efficient LNG carrier design

DSME and DNV GL presented the results of a joint development project (JDP) for the design of an innovative, efficient LNG carrier based on today’s technology, at the Gastech 2017 conference in Tokyo, Japan. ...»

Trendsetter Engineering awarded contracts for Noble’s Leviathan field

Trendsetter Engineering, Inc. is thrilled to announce the recent award of multiple contracts to design and manufacture subsea production equipment for Noble Energy’s Leviathan Project, a large natural gas field development in the Eastern Mediterranean Sea off the coast of Israel. ...»

Rosneft starts drilling of northernmost well at Russian shelf

Rosneft started drilling of the Tsentralno-Olginskaya-1 well at the Khatangsky license area. The well is the northernmost at the Russian Arctic shelf. Russian President Vladimir Putin launched exploration drilling via video link-up with Rosneft CEO Igor Sechin who was on the shore of the Khatanga bay. ...»

Craig International secures five-year procurement contract with Premier Oil

Craig International has signed a five-year procurement contract for all Premier Oil’s maintenance and repair operations in the UK North Sea. ...»

Qatar Petroleum, Exxon Mobil sign EandP sharing contract with Cyprus

DOHA -- Qatar Petroleum and Exxon Mobil signed an exploration and production sharing contract with the government of the Republic of Cyprus for offshore Block 10. ...»

IMCA report indicates proposed Jones Act changes could damage U.S. GOM deepwater industry

The International Marine Contractors Association (IMCA) has issued a report about the potential impact of the Jones Act proposals published by the U.S. Customs and Border Protection agency (CBP) on Jan. 18. ...»

Premier Oil announces $65.6-million sale of Pakistan business

Premier has announced that it has signed a share purchase agreement with Al-Haj Energy Limited (Al-Haj) for the sale of Premier Oil Pakistan Holdings BV, which comprises Premier’s Pakistan business for a cash consideration of $65.6 million. ...»

Qatar Petroleum, Exxon Mobil sign exploration and production sharing contract with Cyprus

DOHA -- Qatar Petroleum and Exxon Mobil signed an exploration and production sharing contract with the government of the Republic of Cyprus for offshore Block 10. ...»

API releases new study on impacts of restricting fossil fuel production

API released a new study examining the negative impacts of policies that restrict the production of fossil fuels. ...»

Eni discovers gas, condensates offshore Libya

SAN DONATO MILANESE, Milan -- Eni has made a new discovery of gas and condensates offshore Libya in the ‘Gamma Prospect‘, in the Contract Area D, 140 km offshore from Tripoli, in Libya. ...»

Rosneft started drilling of northernmost well at Russian shelf

Rosneft started drilling of the Tsentralno-Olginskaya-1 well at the Khatangsky license area. The well is the northernmost at the Russian Arctic shelf. Russian President Vladimir Putin launched exploration drilling via video link-up with Rosneft CEO Igor Sechin who was on the shore of the Khatanga bay. ...»

Gazprom to purchase first medium-term contract for Uzbek gas

A number of documents were signed today in Moscow with the purpose of advancing Russian-Uzbek cooperation in the gas sector. The signing ceremony took place in the presence of Russian Federation President Vladimir Putin and Uzbekistan President Shavkat Mirziyoev. ...»

Gazprom bid feeds David-and-Goliath anxiety in Danish parliament

The biggest party in Denmark’s parliament is voicing serious concerns about a bid by Gazprom PJSC to build a pipeline from Russia to Europe that would pass through Nordic and Baltic waters. ...»

Seadrill in free fall amid struggle to avoid bankruptcy

Seadrill Ltd., once the crown jewel of billionaire John Fredriksen’s business empire, is now at the mercy of short-term speculators as the biggest funds avoid the offshore driller amid a struggle to avoid bankruptcy. ...»

Saudi Aramco cuts oil pricing for Europe, where Russia dominates

Saudi Arabia lowered oil pricing for European customers, a sign the world’s biggest crude exporter is seeking to expand market share in the region dominated by Russia. ...»

Patterson-UTI's monthly average U.S. rig count increases by eight

Patterson-UTI Energy reported today the company had an average of 88 drilling rigs operating in the U.S. and two rigs in Canada for the month of March 2017. ...»

Statoil’s Trestakk development plan approved by Norway

Norwegian authorities have approved the Plan for Development and Operation (PDO) of the Trestakk discovery on the Halten Bank in the Norwegian Sea. Investments are calculated at NOK 5.5 billion, almost half of the original estimate. ...»

British PM May makes pitch for UK Aramco listing

UK Prime Minister Theresa May pitched London as a listing destination for Saudi Aramco’s initial public offering during her trip to Saudi Arabia. ...»

Oil extends gain above $51 as focus returns to U.S. inventories

Oil rose to the highest in almost a month as investor focus returned to U.S. crude inventories. ...»

China surpasses Canada as top U.S. crude buyer amid record sales

China became the biggest buyer of U.S. crude in February, surpassing Canada, at a time when OPEC is cutting back output. ...»

NPD reports 6,000 wells on the Norwegian shelf

Well number 6,000 was registered as completed in the Norwegian Petroleum Directorate's Fact Pages in late March. This was production well 31/2-Y-21 AY2H on Troll field, in the North Sea. ...»

Statoil awards Transocean two multi-million-dollar rig contracts

Statoil and license partners have decided to use the semisubmersible rig Transocean Spitsbergen on three exploration wells in the UK, and then on a six-well production drilling campaign on the Aasta Hansteen licence in Norway. ...»

Lukoil begins exploration in Taymyr ahead of schedule

PJSC LUKOIL began drilling of the first 5,500 m prospecting and appraisal well (1P) in the Vostochno-Taymyrsky license area, Krasnoyarsk Territory, six months before the scheduled deadline. ...»

TGS announces further expansion of north-west African Atlantic Margin 2D seismic survey

TGS announces a further expansion of its NWAAM multi-client library in the MSGBC basin with plans to acquire more than 11,000 km of long-offset broadband 2D seismic data together with magnetic and gravity data, in Senegal and Gambia. ...»

Saudi Arabia to switch crude oil pricing for Europe

Saudi Arabia is to tweak the benchmark it uses to sell its crude in Europe, in a concession to refiners in the region that have long complained about their ability to hedge using the current measure. ...»

Oil advances on speculation U.S. crude, fuel stockpiles declined

Oil climbed on forecasts that U.S. crude inventories have dropped from a record high as refineries boosted operating rates. ...»

Buhari's change of tack in Nigeria Delta boosts oil output

When militants in Nigeria’s southern Niger River delta started attacking oil installations, President Muhammadu Buhari promised to crush them by force. A year and $7 billion in lost oil exports later, his decision to switch tack by negotiating with the fighters seems to be working. ...»

DNV GL announces new recommended practice for subsea forgings

Steel forgings are essential building blocks for subsea components, but tailor-made solutions to meet end-users’ specific requirements have caused long delivery times. A joint industry project (JIP), led by DNV GL, has now taken the next step in subsea standardization by harmonizing requirements for quality management of forgings. ...»

Sercel launches high-resolution seismic streamer

CGG has announced that Sercel has launched Sentinel HR, a high-resolution solid streamer designed to meet the specific imaging needs of shallow-target applications, such as oceanology, civil engineering and reservoir characterization, as well as high-resolution 3D (HR3D) seismic surveys for detailed mapping of geological features. ...»

INTECSEA launches next generation floater

INTECSEA has launched a range of low-motion (LM) floaters, which are suitable for all water depths. The LM-FPSO transforms the economics of harsh, remote offshore fields with savings of $500 million - $1.2 billion (USD) per project. ...»

2H Offshore completes installation of production riser on Moho Nord

2H Offshore, an Acteon company, has successfully completed the installation of the first of 17 production top tension risers (TTRs) for Total EandP Congo’s Moho Nord field. ...»

2H Offshore completes installation of first production top tension riser on Moho Nord

2H Offshore, an Acteon company, has successfully completed the installation of the first of 17 production top tension risers (TTRs) for Total EandP Congo’s Moho Nord field. ...»

India's ONGC Videsh to Spend Over $3 Billion on Iran gas block

The overseas arm of India’s biggest oil and gas explorer intends to spend more than $3 billion on Iran’s Farzad-B natural gas block. ...»

Canadian oil disruption, OPEC output cuts open door for Mexico

Canadian crude shipments to the U.S. are poised to shrink just as the effects of OPEC-led output cuts are being felt in the Caribbean. ...»

Gas giants share OPEC's shale pain as U.S. supply flows east

OPEC isn’t the only decades-old energy hegemony being turned on its head by U.S. shale. ...»

GOSCO, Lloyd’s Register form JV to deliver services to Ghana's energy sector

Lloyd's Register has signed an agreement with GOSCO to form a joint venture dedicated to providing well project management, well engineering and associated site survey, geotechnical and rig inspection services, in the territorial waters of the Republic of Ghana. ...»

Emerson expands reservoir management software capabilities

Emerson Automation Solutions has launched the latest version of its reservoir management software suite, Roxar Tempest 8.0. The latest version adds new history-matching capabilities, enhanced field productivity with greater simulation performance, and an integrated workflow from geosciences to production. ...»

Taqa extends rally on speculation Abu Dhabi may help after loss

Shares in Abu Dhabi National Energy Co. soared for a second day amid investor speculation the government will step in after the oil company known as Taqa reported a record $5.2-billion loss. ...»

OPEC deal pushes Russian oil output down 1.6% from peak

Russia cut its crude production in March, moving closer to fulfilling its agreement with OPEC as the deadline approaches. ...»

Teledyne CARIS launches newest edition of flagship HIPS and SIPS suite

Teledyne CARIS has announced the release of HIPS Essential, the newest edition to the flagship HIPS and SIPS suite of products. ...»

EnerMech secures major contracts for crane operation, maintenance in the Caspian region

Mechanical services group EnerMech has strengthened its market positon in the Caspian region by securing contracts with major operators valued at more than £40 million. ...»

Oil trades near $50 as Libya output rebound offsets OPEC cuts

Crude traded near $50/bbl as a rebound in Libyan oil production and U.S. supply gains countered optimism that OPEC would continue to restrain output. ...»

Packers Plus, CGC complete first well with ball-activated technology in Southern Argentina

Packers Plus Energy Services Inc. recently worked with Compañía General de Combustibles (CGC) to complete a 10-stage StackFRAC HD multi-stage system, the first well completed with ball-activated technology in southern Argentina's Santa Cruz province. ...»

Petro River to drill exploration wells with significant potential in Oklahoma

Petro River Oil Corp., an independent oil and gas exploration company utilizing the latest 3D seismic technology, has announced the spudding of one of the four exploration wells in its Pearsonia West Concession. ...»

Providence Resources to commence mobilization for 3D seismic data acquisition

Providence Resources, an Irish-based oil and gas exploration company, today provides an update regarding Frontier Exploration Licence (FEL) 3/04, located in the southern Porcupine basin. ...»

Petronas to consider Shell site for Canadian LNG project

Malaysia’s Petroliam Nasional Bhd may be looking at building a $27-billion liquefied natural gas export terminal in northwestern Canada on the site of an abandoned Royal Dutch Shell Plc energy project, according to the company’s CEO. ...»

U.S. petroleum exports climb to record as crude output grows

When it comes to petroleum, the U.S. is the land of plenty. ...»

BP sells key North Sea pipeline to Ineos for $250 million

BP Plc agreed to sell the Forties pipeline, one of the most important pieces of oil infrastructure in the UK North Sea, to Ineos AG for $250 million. ...»

Qatar to drill in biggest gas field after 12-year freeze

Qatar Petroleum plans to start a new development in the offshore North field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran. ...»

Down 10%, Mexico oil reserves gone in nine years without new finds

Mexico’s existing oil reserves are dwindling so fast the country could go dry within nine years without new discoveries. ...»

OPEC's Barkindo sees progress in oil cuts as stockpiles shrink

Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo. ...»

State oil companies stay in oil sands as Conoco, Shell exit

Four years ago, Canada’s government tried to keep state-owned companies out of Alberta’s oil sands. Now, they may be around for a while. ...»