Sen. Alexander introduces amendment to end wind production tax credit at year-end

U.S. Senator Lamar Alexander (R-Tenn.) today introduced an amendment to the Senate tax reform bill that would end the wind production tax credit at the end of this year, instead of two years from now. ...»

Saipem awarded $400-million EandC contract from Saudi Aramco

Saipem has been awarded a new EandC offshore contract by Saudi Aramco for engineering, procurement, construction (EPC) activities in Saudi Arabia, under the long-term agreement renewed in 2015 until 2021. ...»

Statoil awarded exploration license onshore Argentina

As part of the Argentina’s Gas y Petróleo del Neuquén’s (GyP) 5th bidding round, Statoil has been awarded the Bajo del Toro Este exploration license as operator in the Neuquén basin. ...»

Oil lodges third straight monthly jump as OPEC extends curbs

Oil posted its longest streak of monthly gains since early 2016 after an OPEC-led coalition of major crude producers followed through on a long-awaited extension of supply cuts. ...»

OPEC said to agree on oil-cuts extension to end of 2018

OPEC agreed to extend its oil-production cuts to the end of next year as the job of rebalancing the market is not yet done, according to delegates at a ministerial meeting in Vienna. ...»

U.S. oil owes Mexico crude for success as tankers ferry both

U.S. crude may owe supply from Mexico for helping it capture a share of the world’s biggest oil market this year. ...»

Oil drilling in Alaska refuge hits snag over budget protocol

A bid to open the Arctic National Wildlife Refuge to oil drilling faces a hold up over an arcane budget rule, a development that may mean it can’t be included in the tax overhaul legislation. ...»

Another bullish shale forecast adds to confusion as OPEC gathers

Add another bullish forecast for U.S. oil to the pile of confusion confronting OPEC. ...»

Upland Resources announces farm-in agreement with Corallian Energy in the UK

Upland Resources Limited, the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that its wholly-owned subsidiary, Upland Resources (UK Onshore) Limited (Upland UK), has signed a farm-in agreement with Corallian Energy Limited (Corallian) for a 40% working interest in UK Seaward Production Licence P2235 (UKCS Block 11/24b) containing the Wick Prospect. ...»

Sound Energy reports exploration volume estimates for Sidi Moktar

Sound Energy, the African and European focused upstream gas company, has provided the Company's first volumes estimate of the exploration potential of the Sidi Moktar exploration permits in Central Morocco. ...»

Survey shows half of oil and gas firms confident for the first time in four years

Contractor confidence in the UK Continental Shelf (UKCS) has risen with almost half being more confident about their prospects for the first time since 2013, according to an industry report released today. ...»

LMKR releases updated EandP interpretation software with 3D geomodeling

LMKR today announced release of the newest update to its popular EandP interpretation software; GeoGraphix 2017.1 and GVERSE Geomodeling; a new integrated 3D geomodeling platform. ...»

U.S. demands China cut oil to North Korea after new launch

The U.S. demanded that China cut off all oil exports to North Korea after the country’s latest intercontinental ballistic missile test, warning that Washington will force action if Beijing fails to do so. ...»

Oil holds near $64 as OPEC is said to agree nine-month extension

Brent held near $64 after OPEC agreed to extend production curbs to the end of next year, giving the market what it expected. ...»

DandL Oil Tools designs new anchor in response to demand for smart well technology

DandL Oil Tools, a company that provides downhole tools to both domestic and international oil exploration markets, has unveiled a new patent-pending design for hydraulically and mechanically-set retrievable tubing anchors/catchers named Trilobite Anchors. ...»

World's largest oil consumer needs a lot less oil, thanks to its own output

The U.S. has a message for oil producers poised to make a key decision on crude output on Thursday: The world’s biggest oil consumer doesn’t really need you that much anymore. ...»

Survey ranks Newfoundland and Labrador as world's 4th most-attractive area for investment

The province of Newfoundland and Labrador now ranks as the most attractive Canadian jurisdiction for oil and gas investment, and it is the fourth-most attractive jurisdiction worldwide this year, according to the annual global survey of petroleum-sector executives released on Nov. 28 by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. ...»

World's largest oil consumer needs a lot less oil

The U.S. has a message for oil producers poised to make a key decision on crude output on Thursday: The world’s biggest oil consumer doesn’t really need you that much anymore. ...»

Bravo Target Safety hires local industry veteran to open Fort McMurray facility

Bravo Target Safety, a leading provider of industrial and oilfield emergency response and safety services, today introduced new Regional Manager Michael Coutu and announced that it will soon open a new facility in Fort McMurray. ...»

Survey ranks Newfoundland and Labrador as 4th most-attractive for global investment

The province of Newfoundland and Labrador now ranks as the most attractive Canadian jurisdiction for oil and gas investment, and it is the fourth-most attractive jurisdiction worldwide this year, according to the annual global survey of petroleum-sector executives released on Nov. 28 by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. ...»

Survey ranks Newfoundland and Labrador as 4th most-attractive for global investment

The province of Newfoundland and Labrador now ranks as the most attractive Canadian jurisdiction for oil and gas investment, and it is the fourth-most attractive jurisdiction worldwide this year, according to the annual global survey of petroleum-sector executives released on Nov. 28 by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. ...»

Noia appoints Charlene Johnson as new CEO

The Newfoundland and Labrador Oil and Gas Industries Association (Noia) has announced the appointment of Charlene Johnson as CEO. ...»

New API study: STEM education is the key to diversifying America’s energy workforce

A new American Petroleum Institute study concluded that many of tomorrow’s best-paying careers, including those in the oil and natural gas industry, will require training or education in a STEM discipline, and highlighted opportunities for women and minorities. ...»

Marathon Oil announces $1-billion gross debt reduction

Marathon Oil Corporation has announced that it has entered into a transaction to redeem at par the outstanding $1 billion of 5.125% municipal revenue bonds due in 2037. ...»

Russia sees oil-cut extension as consensus with OPEC emerges

Russia’s Energy Minister Alexander Novak expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia. ...»

Faroe Petroleum announces commencment of Iris/Hades exploration well

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, has announced the commencement of the Iris/Hades (Aerosmith) exploration well, 6506/11-10 (Faroe 20%) in licence PL644/PL644 B. ...»

Fate of energy companies' $220-billion gain is in OPEC's hands

The world’s biggest oil companies have added $220 billion in value since the middle of this year as crude prices rallied to the highest in more than two years. They will be hoping OPEC doesn’t crash the party. ...»

Hess completes sale of interests in Equatorial Guinea

Hess Corporation has announced that it has completed the previously announced sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650 million, effective Jan. 1, 2017. ...»

Wood, Saudi Aramco sign MoU supporting in-country opportunities

Wood has entered into a Memorandum of Understanding (MoU) with Saudi Aramco, signalling its continued commitment to creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia. ...»

Countdown begins for OPEC pact as Russia looks beyond oil deal

Russia’s qualms over how far to prolong oil-output cuts with OPEC may reflect a shifting calculus for an economy feeling increasingly hobbled by shackling one of its biggest growth drivers. ...»

Statoil to focus exploration on home turf in 2018 to curb risk

Norway’s Statoil ASA will focus exploration on its home turf next year as it seeks more oil and gas to run through existing platforms rather than gigantic deposits in frontier areas. ...»

37 years in the making: Exxon opens tap on offshore Canada cache

On the eve of the most momentous OPEC gathering in at least three years, ExxonMobil Corp. turned on the spigot on an oil field that’ll pump a supertanker worth of crude every two weeks. ...»

Frigstad Offshore announces new generation harsh environment semisubmersible drilling rig

Frigstad Offshore has initiated a tender process with shipyards in Asia to price a new generation harsh environment semisubmersible drilling rig. ...»

MMbbl oil hedging surge signals shale boom here to stay

Oil explorers took advantage of a market rally to lock in prices for almost 1 MMbpd’s worth of future output, signaling the shale boom’s staying power as OPEC ponders the extension of its supply curbs. ...»

Million-barrel oil hedging surge signals shale boom here to stay

Oil explorers took advantage of a market rally to lock in prices for almost 1 MMbpd’s worth of future output, signaling the shale boom’s staying power as OPEC ponders the extension of its supply curbs. ...»

Oil pares losses on optimism OPEC will extend cuts through 2018

Oil pared losses on speculation that OPEC may cap Libyan and Nigerian supply and the group’s output cuts won’t be phased out during any extension next year. ...»

OPEC-Russia deal faces one last hurdle: knowing how to stop

OPEC and Russia concur on two things: their oil production cuts are working and they should be extended deeper into next year. ...»

ExxonMobil starts production at Hebron field

ExxonMobil Corporation has announced that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 bopd. ...»

Macri juggling act entangles Argentina's answer to the Permian

One of the world’s biggest shale formations is getting caught up in Argentina’s efforts to balance its books. ...»

Goldman warns oil bulls as uncertainty grips OPEC meet

OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc. ...»

Well-Safe Solutions selects Dundee for onshore marine support base

Well-Safe Solutions, the Aberdeen-based well abandonment specialist, has chosen to locate its onshore marine base in the Port of Dundee. ...»

Shell restores full cash dividend as it emerges from slump

Royal Dutch Shell Plc will pay its entire dividend in cash for the first time in more than two years as Europe’s biggest oil company seeks to demonstrate it has left the worst of the crude slump behind. ...»

Oil snoozes through Saudi-Iran spat, imminent OPEC meeting

With tensions between Saudi Arabia and Iran ratcheting up and OPEC about to announce its plans for global crude supply, investors would be forgiven for anticipating a few gyrations in oil prices. The opposite has happened: the market is the calmest it’s been for almost nine months. ...»

CNOOC reports start of production at Weizhou 12-2 oil field phase II project

CNOOC Limited has announced that the Weizhou 12-2 oil field phase II project has already commenced production. ...»

Favorable decision on IPPC Permit preliminary screening appeal reported

Ascent Resources plc, the European focused oil and gas exploration and production company, today reports that the appeal against the correctness of preliminary screening procedures in relation to the IPPC Permit has been rejected by the Administrative Court. ...»

AFGlobal to provide lifecycle riser services for IFP Energies Nouvelles

AFGlobal today announced that it has entered into an agreement with IFP Energies nouvelles (IFPEN), the developer of the Clip-Riser technology, to provide inspection, maintenance and repair of IFPEN drilling risers. ...»

OPEC said to await Russia's backing for deal

While OPEC is said to have reached a consensus on the need to extend oil-supply cuts to the end of 2018 when producers meet in Vienna on Thursday, Russia, its chief ally, is so far dragging its feet. ...»

Britain's biggest gas supplier says Brexit puts access at risk

Norway says Britain and the EU need to figure out how to include it in the Brexit process. ...»

TransCanada says growth outlook safe despite Keystone XL limbo

TransCanada Corp. reaffirmed forecasts for profit and dividend growth a week after a Nebraska regulatory decision left the fate of the company’s $8-billion Keystone XL pipeline megaproject clouded. ...»

Plan underway to subdue Russian gas with German LNG terminal

The old trading city of Hamburg in northwest Germany will soon become the center for a drive in Europe’s biggest economy to diversify natural gas imports. ...»

Pemex revolving door turns as CEO becomes finance minister

Like his predecessors, Jose Antonio Gonzalez Anaya didn’t last long as chief executive officer of Petroleos Mexicanos. ...»

Cluff Natural Resources reports extension of Southern North Sea licences

Cluff Natural Resources Plc, the AIM quoted natural resources investing company, is pleased to announce that the UK’s Oil and Gas Authority (OGA) has confirmed that the Company’s two 100% owned Southern North Sea Gas licences, P2248 and P2252--which are estimated to contain combined net P50 prospective resources of 2.4 Tcf of gas--will be extended, subject to the achievement of certain milestones, for a further year. ...»

Talos Energy to combine with Stone Energy Corp.

Talos Energy LLC and Stone Energy Corporation have announced that their boards of directors have unanimously approved the combination of Talos and Stone in an all-stock transaction that will create a premier offshore-focused exploration and production company. ...»

Eni becomes operator of Angola's Cabinda North Block

Eni’s CEO Claudio Descalzi and Sonangol’s Chairman of the Board of Directors Carlos Saturnino signed today an agreement that assigns operatorship of Cabinda North Block to Eni, as well as 48% the block’s rights. ...»

Statoil takes operatorships, equity in Martin Linge field and Garantiana discovery

Statoil and Total have agreed on a transaction whereby Statoil will acquire Total’s equity stakes in Martin Linge field (51%) and the Garantiana discovery (40%) on the Norwegian continental shelf (NCS). ...»

Statoil takes over operatorships, equity in Martin Linge field and Garantiana discovery

Statoil and Total have agreed on a transaction whereby Statoil will acquire Total’s equity stakes in Martin Linge field (51%) and the Garantiana discovery (40%) on the Norwegian continental shelf (NCS). ...»

CNOOC announces start of production at Libra Block

CNOOC Limited announced today Libra Block in Brazil has already started production. ...»

United Oil and Gas farms in to Tullow acreage in Jamaica

United Oil and Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce an agreement to farm-in to the Tullow Jamaica Ltd-operated Walton-Morant licence, offshore Jamaica. ...»

Days before OPEC meeting, Venezuela names general as oil boss

Just a few days before a key OPEC meeting, Venezuela President Nicolas Maduro named a military leader the nation’s new oil supremo as it grapples with U.S. sanctions, overdue bond payments and dwindling production. ...»

GAIL said to receive Gazprom letter on LNG contract start

GAIL India Ltd. received notification from Russia’s Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the Indian buyer is trying to renegotiate, according to people with knowledge of the matter. ...»

OPEC clash with U.S. for oil supremacy near day of reckoning

The clash between OPEC and America’s oil industry is reaching a day of reckoning. ...»

U.S. Chamber’s Global Energy Institute issues statement on Nebraska approval of Keystone XL pipeline

Karen Harbert, president and CEO of the U.S. Chamber’s Global Energy Institute, issued a statement regarding the decision by the Nebraska Public Service Commission (NPSC) to grant a permit that will allow construction of the Keystone XL pipeline in Nebraska. ...»

Oil options cheapest in three years as OPEC meeting approaches

Betting on price swings in oil costs the least in three years before next week’s OPEC meeting. ...»

Aramco sees oil market balanced as UAE dismisses shale threat

Global crude inventories are declining and supply and demand are in balance, according to the head of Saudi Aramco, while the United Arab Emirates energy minister said U.S. shale oil doesn’t threaten OPEC’s efforts to support the market. ...»

Israel, Egypt government ministers said to discuss gas exports

Government ministers from Egypt and Israel held a call last week to discuss the potential sale of Israeli gas to Egypt, according to a person with direct knowledge of the matter. ...»

Abu Dhabi's Adnoc to seek up to $2 billion with IPO of unit

Abu Dhabi National Oil Co. is seeking to raise as much as $2 billion from the initial public offering of its fuel-retailing unit in an IPO that could be the biggest in the United Arab Emirates in 10 years. ...»

SDX Energy spuds KSR-61 development well in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce the spud of its KSR-16 well in the Sebou permit in Morocco. ...»

BASF confirms merger discussions with Letter One

BASF is in discussions regarding a potential merger of BASF Group’s oil and gas activities with Letter One’s oil and gas activities bundled in the DEA Group. ...»

Ashtead boosts rental fleet with £1-million investment

Global subsea equipment specialist, Ashtead Technology, has boosted its rental fleet with an investment of £1 million in the latest iXblue technology over the past 12 months. ...»

Oil rises as Russia and OPEC said to reach outline deal on cuts

Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year. ...»

Oil heads for best weekly gain in month on Keystone disruption

Oil headed for its best weekly advance in a month after an outage on the Keystone pipeline added to speculation crude supply could tighten and as investors await OPEC’s decision on extending output curbs. ...»

Wintershall granted drilling permit for wildcat southwest of Aasta Hansteen

The Norwegian Petroleum Directorate has granted Wintershall Norge AS a drilling permit for well 6604/5-1, cf. Section 8 of the Resource Management Regulations. ...»

Gazprom Neft, Tatneft and Zarubezhneft collaborate to develop carbonate deposits

Gazprom Neft, Tatneft and Zarubezhneft have concluded a Memorandum of Cooperation on the development of the skills and competencies needed for the development of exceptionally challenging projects in opening up carbonate deposits. ...»

Venezuela’s state oil producer to cut costs by 50%

Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50% in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30 million people. ...»

Oil extends rally above $58 as Keystone outage cuts U.S. supply

Oil extended its rally above $58/bbl as supply disruptions on the Keystone pipeline added to optimism that the U.S. glut is waning and that OPEC will prolong its output curbs. ...»

Saudis eye oil sales to world's biggest plants emerging in China

Saudi Arabia’s status as the biggest oil supplier to China has been usurped by Russia. OPEC’s biggest producer is now trying to regain ground in the world’s largest crude importer. ...»

OPEC said to get few answers on shale before decision on production cuts

OPEC will have to decide whether to extend global oil cuts without knowing whether they’re triggering a new flood of rival supply from U.S. shale producers. ...»

Oil industry shows signs of life after Norway wealth fund shock

A week after Norway’s $1-trillion sovereign wealth fund said it wanted to get out of oil and gas investments, the latest spending plans from oil companies show how the country’s not about to quit petroleum. ...»

Eight energy majors commit to reducing methane emissions within natural gas industry

BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall today committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain – from production to the final consumer – to do the same. ...»

North Sea tax measure to unlock upstream UKCS investment, says Oil and Gas UK

Chancellor Philip Hammond today announced a tax measure that will unlock further investment in the UK North Sea by enabling more assets to change hands and allow new owners to provide fresh investment in many mature oil and gas fields. ...»

Siccar Point Energy farms out Lyon prospect

Siccar Point Energy EandP Limited (SPE) is pleased to announce that it has entered into a farmout agreement with Ineos UK SNS Limited (Ineos) covering two exploration licences (P.1854 and P.1935) in the West of Shetlands area, containing the significant Lyon prospect. ...»

Installation of SM 71 F platform complete, offshore Louisiana

Otto Energy Ltd has advised that the operator of the South Marsh Island 71 (SM 71) oil and gas development (Byron Energy Limited) has confirmed that installation of the jacket and decks comprising the SM 71 F platform is now complete. ...»

Industry's growing optimism reflected in 30th offshore licensing round

The Oil and Gas Authority has received 96 applications for 239 blocks in the 30th offshore oil and gas exploration license round. ...»

Lundin announces non-commercial gas discovery on Hufsa prospect

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has completed the drilling of exploration well 7219/12-2 on the Hufsa prospect in PL533 in the southern Barents Sea. A non-commercial gas discovery was made in the main well while the sidetrack was dry. ...»

Rockwell Automation rejects Emerson's sweetened $29-billion bid

Rockwell Automation Inc. spurned a third takeover proposal from Emerson Electric Co., saying a sweetened bid of $29 billion still undervalued the supplier of controls for assembly-line operations. ...»

New China star sells first Russian oil from $9-billion Rosneft deal

A Chinese firm that’s grown from a small local trader to a global deal-making juggernaut sold its first cargo of Russian crude after buying a $9-billion stake in Rosneft Oil Co. ...»

Crude climbs to two-year high as stockpiles fall before OPEC meets

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts. ...»

Europa Oil and Gas provides update on Holmwood well, Weald basin

Europa Oil and Gas (Holdings) plc, the AIM traded Ireland and UK focused oil and gas exploration, development and production company, has provided a planning update regarding the Holmwood oil exploration prospect on licence PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. ...»

BSEE: Investment in partnership is good for energy dominance

Continuing to spread his message of partnership, Bureau of Safety and Environmental Enforcement Director Scott A. Angelle traveled to the west coast. Angelle participated in meetings with BSEE staff, industry, Air Force leadership, and other stakeholders Tuesday and Wednesday in California. ...»

BP to sell Bruce assets to Serica Energy

BP has agreed to sell a package of its interests in the Bruce assets in the North Sea to Serica Energy plc. BP currently operates the assets, which comprise Bruce, Keith and Rhum fields, three bridge-linked platforms and associated subsea infrastructure. ...»

Danos completes water injection piping fabrication for offshore platform in West Africa

Danos has completed water injection piping work for an offshore platform operated by a major oil and gas producer subsidiary off the coast of Equatorial Guinea. ...»

Oil veteran Andy Hall said to brief OPEC on U.S. shale

Andy Hall, the veteran crude trader who closed his hedge fund this year, will brief OPEC officials on the outlook for U.S. shale oil, according to a copy of the agenda seen by Bloomberg News. ...»

Expro secures $5-million well testing contract in UK North Sea

Leading international oilfield services company, Expro, has been awarded a five-year contract extension for surface well testing services across several assets for an operator in the UK North Sea. ...»

ONGC Videsh acquires 15% interest in Cooper Block, offshore Namibia

Eco (Atlantic) Oil and Gas Ltd., is delighted to announce that ONGC Videsh, through its wholly owned subsidiary ONGC Videsh Vankorneft Pte. Ltd. (OVVL), has entered into agreement with Tullow Namibia Limited whereby OVVL will acquire a 15% working interest in the Cooper Block. ...»

Maersk Drilling enters into alliance agreement with Aker BP

Maersk Drilling has entered into a jackup alliance agreement with Aker BP ASA (Aker BP). ...»

Wild swings in Iraq crude production give OPEC another problem

Iraq is lurching between quota busting and production-crimping crisis, clouding OPEC's policy-making picture. ...»

Funds managing $670 billion react to Norway oil “revolution”

Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks. ...»

John Lawrie Group acquired by its management

Metal reprocessing, tubular supply and decommissioning company John Lawrie Group has been acquired by its management in partnership with Rubicon Partners and Grovepoint as it gears up for an expansion of its business in the UK and U.S. ...»

Craig International secures contract with Chrysaor for UKCS

Oil and gas procurement specialist, Craig International, has bolstered its North Sea operations with the announcement of a contract with Chyrsaor. The contract is for an initial year with two one-year options included. ...»

Africa Energy to acquire additional interest in South Africa

Africa Energy Corp. announces the signature of definitive agreements to acquire an effective 4.9% interest in the Exploration Right for Block 11B/12B offshore South Africa. ...»

Colorado oil and gas producer uses Coriolis flowmeters for wellhead allocation

Colorado oil and gas producer Bonanza Creek Energy is utilizing Entrained Gas Management (EGM) to ensure both stable and uninterrupted measurements of oil with high gas content. ...»

Well-centric awarded North Sea well integrity contract with Chrysaor

Well-Centric, a leading independent specialist operating in the well integrity and production technology sectors of the oil and gas industry, has secured a contract worth up to £300,000 per year with independent exploration and production company, Chrysaor. ...»

New gas turbine improves gas protection in dusty environments

Parker Hannifin recently announced the release of its new clearcurrent PRO SP+ cartridge filter at the ADIPEC show in Abu Dhabi. ...»

Wood Group wins FEED contract for first-of-its-kind LNG production platform

The Honghua Group Limited has awarded a $12 million front-end engineering design (FEED) contract to Wood for its LNG platform development in the West Delta area of the Gulf of Mexico. ...»

TransCanada wins approval to build Keystone XL in Nebraska

TransCanada Corp. won Nebraska’s permission to build its long-delayed Keystone XL crude oil pipeline across the state. ...»

Wintershall deploys Emerson's wireless downhole monitoring system

Emerson’s latest Roxar Downhole Sensor System has been deployed on the Maria field offshore Norway, providing the field’s operator Wintershall with improved well integrity monitoring and offshore safety. ...»

New rotating buoyancy module designed to create safe buckling zones

Trelleborg’s offshore operation recently developed a new Rotating Buoyancy Module system for buckling mitigation for subsea pipelines. ...»

$1.8-billion Tenaris mill in Bay City targets Permian operators

Tenaris recently has opened a new $1.8-billion pipe manufacturing mill in Bay City, Texas, and with the new mill, it is targeting service for U.S. shale operators—in particular, those operating in the Permian basin—according to a local Houston newspaper. ...»

WTI holds near $56/bbl after surging on saudi cut-extension plea

Oil held near $56/bbl after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month. ...»

Investors key on geopolitics over crude in Saudi Arabia

Investors in Saudi Arabia’s stock market are more concerned with political headlines coming out of Riyadh than oil prices. ...»

Oil holds near $56 after surging on Saudi cut-extension plea

Oil held near $56/bbl after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month. ...»

Nigerian economic growth quickens as oil output increases

Nigeria’s economic growth accelerated in the third quarter as oil output rose to the highest since the start of last year. ...»

Abu Dhabi oil giant pushes ahead with IPO

Abu Dhabi National Oil Co. plans to sell as much as 20% of its fuel-distribution unit weeks after Saudi Arabia’s corruption crackdown deterred investors from the Middle East’s biggest share sale of the year. ...»

UAE sees “logic” for OPEC to extend oil-output cuts accord

OPEC needs to extend limits on oil output to help cut global supply, but isn’t considering making deeper cuts. ...»

Norway oil bosses insist end isn't nigh after $35 billion shock

Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? ...»

Oil short-sellers return as doubts loom on OPEC's horizon

After bullish bets on Brent crude hit a record and futures surged to two-year highs, hedge funds are pulling back with a sense that the rally reached its limit for now. Wagers on lower prices rose by the most since June as Middle East tensions took a backseat, while uncertainty looms over Saudi Arabia’s push to extend OPEC’s output curbs this month. ...»

Norway's oil bosses insist end isn't nigh after $35-billion shock

Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible. ...»

SNC-Lavalin awarded engineering contract by Ecopetrol in Colombia

SNC-Lavalin has announced that it has been awarded a contract by Ecopetrol in Colombia for conceptual, basic and detailed engineering on high and medium-complexity projects through to 2020. ...»

Keystone pipeline springs leak as extension decision nears

Days before Nebraska regulators are set to rule on TransCanada Corp.’s XL extension to its Keystone pipeline, the existing conduit has sprung a major leak. ...»

Asian investor steps into America's shale gas market

A relentless flow of natural gas from America’s shale basins is drawing bears to the market—and that’s music to the ears of at least one Asia-backed investor. ...»

Caterpillar acquires ultrasonic impact technology capabilities

Through its recent acquisition of Applied Ultrasonics, Progress Rail, a Caterpillar company, now offers ultrasonic impact technology (UIT). ...»

Petrobras reports oil and gas production from October

Petrobras reports that its total oil and natural gas production in October was 2.77 MMboed, with 2.67 MMboed produced in Brazil and 104,000 boed produced abroad. ...»

Africa Oil Corp. acquires shares of Eco Oil and Gas

Africa Oil Corp. today announced that it had acquired 29,200,000 common shares of Eco (Atlantic) Oil and Gas Ltd. for CAD$0.48 per common share. ...»

Drilling permit for Norwegian wildcat well granted to OMV Norge

The Norwegian Petroleum Directorate (NPD) has granted OMV (Norge) AS a drilling permit for well 6506/11-10, cf. Section 8 of the Resource Management Regulations. ...»

Gazpromneft-Khantos establishes Upstream Control Centre using digital twin technology

Gazprom Neft subsidiary Gazpromneft-Khantos has launched an Upstream Control Centre as part of its “Digital Field” program. ...»

Oil climbs as Saudi Arabia seeks to dispel doubts over Russia

Oil climbed, paring losses earlier this week, as Saudi Arabia moved to dispel doubts over Russia’s readiness to extend output curbs. ...»

Caution urged on potential investors in Venezuela

Jay Newman, the former hedge fund manager who helped billionaire Paul Singer win a 15-year fight against Argentina, has a word of caution for investors looking to replicate his success amid the chaos unfolding in Venezuela. ...»

Norway idea to exit oil stocks is `shot heard around the world'

Norway’s proposal to sell off $35 billion in oil and gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change. ...»

Saudi Arabia says OPEC should extend cuts in meeting this month

Saudi Arabia’s Energy Minister said OPEC and its allies should announce an extension of their output curbs when they gather at the end of this month. ...»

Sonangol's ex-chair said to leave $2 billion in reserves

Isabel dos Santos, Africa’s richest woman, said Sonangol will be left with a financial reserve of $2 billion after she leaves as chair of Angola’s state-owned oil company. ...»

Highland's Ocean Rig bet: Fail in Caymans? Try the Marshalls

A battle of so-called bankruptcy tourists has erupted in New York court, with unclear consequences for global companies and their bondholders. ...»

For sale: $20 billion of unwanted oil shares seek new owner

Major oil companies are under pressure, unloved and on sale. ...»

Noble Group default now “probable,” says Fitch as rating cut

A default by Noble Group now “appears probable,” according to Fitch Ratings, which cut the commodity trader’s credit rating, adding pressure on executives to restructure terms with their lenders. ...»

Deloitte, FOROIL deploy Digital Oil Recovery to increase recovery from brownfields

Deloitte has announced an exclusive go-to-market collaboration with FOROIL to help upstream clients dramatically increase production and reserves from brownfields – conventional oilfields with more than seven years’ operating history – using historic production data, breakthrough mathematical modeling and high-performance computing. ...»

Consent granted for start-up of production from Maria field

The Norwegian Petroleum Directorate has granted consent for start-up of production from the Maria field in the Norwegian Sea. ...»

Rosneft drills world's longest well in Sakhalin

Rosneft, as a member of Sakhalin-1 Consortium, successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. ...»

Quantico Energy Solutions introduces new drilling optimization solution

Quantico Energy Solutions announced today the release of QOpt, a drilling optimization solution that maximizes rate of penetration (ROP) and reduces the overall cost to drill a well. ...»

MOL Norge selects AGR for well and drilling engineering

Global energy services and software company AGR has been awarded a Frame Agreement with the Hungarian Operator MOL. ...»

Norbit acquires field monitoring specialists Aptomar

Norwegian technology group Norbit has acquired field monitoring specialist Aptomar. ...»

Well-Safe Solutions secures its first contract with TAQA Bratani

Well-Safe Solutions has signed its first contract after launching in July this year. ...»

Oil trades near $55 as investors wait for clarity on OPEC action

Oil slid toward $55/bbl as traders who were once certain OPEC and Russia would extend their output cuts beyond March aren’t so sure anymore. ...»

Statoil plans to step up exploration after driving down costs

Statoil ASA plans to step up drilling in Norway for a second consecutive year, in the first indication it has given of its exploration plans for 2018. ...»

Shale boss Hamm gives oil forecasters a reality check

The boom in U.S. shale-oil production requires "more sophisticated" forecasting than ever, billionaire oilman Harold Hamm said in an interview. ...»

ADES wins contract for ADMARINE III jackup with Egypt's GPC

ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, is pleased to announce that it has been awarded a new contract for its ADMARINE III offshore jackup rig. ...»

EMGS announces two multi-client surveys offshore Indonesia

Electromagnetic Geoservices ASA (EMGS) has announced that it has received Letters of Intent for two contracts under which EMGS will perform prefunded multi-client acquisitions offshore Indonesia. ...»

Norway's $1 trillion wealth fund wants out of oil and gas stocks

Norway’s $1 trillion sovereign wealth fund proposed dumping about $35 billion in oil and gas stocks, including Shell and Exxon Mobil, to protect the economy of western Europe’s biggest petroleum producer. ...»

Santos seen luring more bids after rejecting $7.2 billion offer

A bid for Santos Ltd. may trigger counter offers for the Australian oil and gas producer that has stakes in some of the world’s cheapest liquefied natural gas. ...»

Arctic refuge drilling moves closer to reality with Senate vote

Oil drilling in the Arctic National Wildlife Refuge took a significant step forward Wednesday, as the Senate energy committee approved legislation to compel lease sales in the 1.5-million-acre coastal plain along Alaska’s northeast coast -- tying it to tax reform. ...»

Shale goal in sight: Pump with a profit, without hurting growth

Shale drillers are promising to add a new wrinkle to their world-shaking oil boom: they may finally make money. ...»

BSEE director: Deepwater Gulf of Mexico is key to energy dominance

Oil and gas production from deepwater projects play a significant role in the Nation's energy program. Bureau of Safety and Environmental Enforcement Director Scott Angelle stressed the substantial contribution from deep water and how future exploration and development will be critical to the achievement of energy dominance. ...»

Statoil granted drilling permit for appraisal well west of Oseberg field

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 30/8-5, cf. Section 8 of the Resource Management Regulations. ...»

Industry bodies strengthen partnership with new agreement

The leading trade body for the UK’s offshore oil and gas industry, Oil and Gas UK, have signed a Memorandum of Understanding with the Society of Petroleum Engineers’ Aberdeen branch. ...»

OPEC meeting approaches with no clear plan on how to extend cuts

Fifteen days from now, nations that pump more than half the world’s oil gather in Vienna to discuss extending the production cuts that helped lift prices to two-year highs. The outcome is far from certain. ...»

Eni's giant gas field prompts Egypt to end imports in 2018

Egypt will stop importing liquefied natural gas in 2018 and may eventually export gas after it starts producing this year at the giant Eni SpA-operated Zohr field off the country’s Mediterranean coast, Oil Minister Tarek El-Molla said. ...»

ADNOC signs framework agreement with CNPC to expand partnership

The Abu Dhabi National Oil Company (ADNOC) has signed a framework agreement, with the China National Petroleum Corporation (CNPC) covering various areas of potential collaboration including potential offshore opportunities and the sour gas development projects. ...»

GE's back-to-back drop is worst since 2009, turnaround planned

General Electric Co.’s stock plunge deepened as its top leaders failed to soothe shareholder concerns about the turnaround plan for the beleaguered icon of American business. ...»

ADES, Vantage Drilling form JV to provide deepwater drilling services in Egypt

ADES International Holding Ltd., the London-listed company providing offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries, has announced that its subsidiary ADES S.A.E has entered into a long-term joint venture (JV) agreement with a subsidiary of Vantage Drilling International. ...»

With Arctic drilling under attack, Norway oil chiefs fight back

The man overseeing western Europe’s biggest crude spigot is fighting back against the oil doubters. ...»

Oilman Harold Hamm set to talk crude outlook with EIA—the agency he blasted

The U.S. Energy Information Administration is set to discuss trends in crude production, and it’s invited one of its most vocal critics to join the party. ...»

GE's back-to-back drop is worst since 2009, turnaround panned

General Electric Co.’s stock plunge deepened as its top leaders failed to soothe shareholder concerns about the turnaround plan for the beleaguered icon of American business. ...»

Breakup of Saudi-Russian alliance would collapse crude prices, Citigroup says

The Saudi- and Russia-led supply limits that have lifted crude to a 2 1/2-year high must be prolonged for an extended period or prices will collapse, said Ed Morse, global head of commodities research at Citigroup Inc. ...»

Oil retreats as IEA casts dark cloud over 2018 market outlook

Crude took a step back now that 2018 isn’t looking so hot anymore. ...»

U.S. to dominate oil markets after biggest boom in world history

The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted. ...»

Emerging oil bonds deemed too expensive to rise with crude

In a sign emerging-market Eurobonds may have reached their peak, oil exporters’ foreign debt is getting little to no lift from the spike in crude prices. ...»

Buying Texas oil at New Mexico prices: Majors go west for shale

The state, which covers a smaller part of the oil-soaked shale formation, is the fourth-largest U.S. producer and luring industry giants including ExxonMobil, Chevron Corp., EOG Resources Inc. and Occidental Petroleum Corp. Their investments -- while small compared with Texas -- are increasing as activity in the rest of the Permian starts to slow down. ...»

Saudi retreat from U.S. oil market cuts exports to 30-year low (1)

For a generation, the huge, whitewashed storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude. ...»

Women represent growing segment of oil and gas workforce

Ryu Bokyoung is confident she can do anything a man does in the sprawling Ulsan refinery in South Korea, be it scaling 100-m steel towers or working through the night when repairing the plant. The challenges that come with being a woman in the traditionally male-dominated oil industry have never stopped her. ...»

UAE joins gathering consensus to extend oil output cuts

OPEC and allied oil producers should extend their production cuts beyond March to help re-balance the market, the United Arab Emirates said, adding weight to a gathering consensus for longer reductions in output among participants in the global accord. ...»

Breakup of Saudi-Russian ‘bromance’ would collapse crude prices, Citigroup says

The Saudi- and Russia-led supply limits that have lifted crude to a 2 1/2-year high must be prolonged for an extended period or prices will collapse, said Ed Morse, global head of commodities research at Citigroup Inc. ...»

GE-Baker Hughes romance may be ending after four-month run

Little more than four months after General Electric Co. married its oil and natural gas unit to Baker Hughes’s technical services business, GE’s eyes are wandering. ...»

Woodside tumbles most in 16 months after Shell to sell stake

Woodside Petroleum Ltd. fell the most in 16 months after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion. ...»

Eni signs EandP sharing agreement for Block 52, offshore Oman

The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production (OOCEP), a subsidiary of state company Oman Oil Company SAOC (OOC), and Eni today entered into an Exploration and Production Sharing Agreement (EPSA) for Block 52, located offshore Oman. ...»

Eni signs an EandP sharing agreement for Block 52, offshore Oman

The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production (OOCEP), a subsidiary of state company Oman Oil Company SAOC (OOC), and Eni today entered into an Exploration and Production Sharing Agreement (EPSA) for Block 52, located offshore Oman. ...»

SBM Offshore starts Liza FPSO conversion

Following SBM Offshore’s completion of the Front End Engineering and Design (FEED) and a final investment decision on the Liza Phase 1 Development project by ExxonMobil in June 2017, SBM is has announced the next step in its scope for the FPSO. ...»

EQT completes acquisition of Rice Energy

EQT Corporation has announced that it has completed its acquisition of Rice Energy Inc. ...»

IEA sees U.S. shale surge as biggest oil and gas boom in history

The supply surge from U.S. shale will beat the biggest gains seen in the history of the industry, the IEA predicted. ...»

IEA sees U.S. shale as biggest oil and gas boom in history

The supply surge from U.S. shale will beat the biggest gains seen in the history of the industry, the IEA predicted. ...»

Saudi retreat from U.S. oil market cuts exports to 30-year low

For a generation, the storage tanks at America’s largest oil refinery in Port Arthur, Texas, have stored almost nothing but Saudi crude. ...»

ADIPEC '17: Execs discuss the changing world of LNG

On the opening day of ADIPEC, executives from the LNG sector gathered for a heavy-hitting "C-Suite Dialogues" afternoon panel discussion to answer the question: "What is the future for natural gas and LNG in a low-carbon, low-cost landscape?" ...»

Hess Corp. issues statement on impact from incident at Shell Enchilada platform

Hess Corporation has released a statement about the impact on its operations resulting from a fire at the Shell Enchilada platform in the Gulf of Mexico. Shell advised in a statement on Nov. 12 that a plan for repairing the damaged portions of the asset is being developed. ...»

Africa Oil, Eco announce strategic partnership for exploration in West Africa, Guyana

Africa Oil Corp. has announced that it has entered into a strategic partnership with Eco (Atlantic) Oil and Gas Ltd. for exploration in West Africa and Guyana. ...»

DNV GL introduces innovative approach to independent verification of oil, gas assets

DNV GL has introduced remote witnessing in independent verification surveys, providing operators with more flexibility and efficiency without compromising safety. ...»

Fugro welcomes multi-role survey vessel to its fleet

The newly named MV Kobi Ruegg has joined Fugro’s vessel fleet and is set to begin her first project in the Egyptian sector of the Mediterranean Sea. ...»

UK, Norway join forces to optimize late-life field assets and field abandonment

The Industry Technology Facilitator (ITF) and Norwegian Energy Partners (NORWEP) are hosting joint technology hackathon events later this month to collectively tackle operator late life and decommissioning challenges. ...»

Shell further reduces its interest in Woodside

Shell’s subsidiary, Shell Energy Holdings Australia Limited (SEHAL), has entered into an underwriting agreement with two investment banks, for the sale of 71.6 million shares in Woodside, representing 64.0% of its interest in Woodside and 8.5% of the issued capital in Woodside. ...»

Halliburton launches new high-speed telemetry service

Sperry Drilling, a Halliburton business, has announced the release of JetPulse high-speed telemetry service, which provides consistent, high-data rate transmission of drilling and formation evaluation measurements. ...»

Russia's economy slowed more than forecast despite oil rally

Russia’s economy slowed more than forecast despite a bull-market rally in oil, its chief export, ending three quarters of accelerating growth that followed the country’s worst recession this century. ...»

Rising oil portends long pause as India prepares for rate review

After long undershooting its predictions, data on Monday showed consumer prices rose the most in seven months. The pace may only accelerate due to rebounding global oil prices. ...»

OPEC boosts 2018 demand forecast, signaling faster rebalancing

OPEC boosted forecasts of demand for its crude in 2018, signaling that the rebalancing of the global market could gather pace. ...»

Hedge funds add bullish oil bets as Mideast's tension heats up

Hedge-fund bets on rising Brent crude hit a fresh record as tension in the oil-rich region escalated, sending prices to their highest in more than two years. ...»

Birth of another LNG giant shows majors' edge over traders

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. ...»

Saudi Aramco CEO says size of share offering still to be decided

Saudi Arabian Oil Co. is still waiting for a decision on how many of its shares will be offered to the public, or where the listing will be made outside of the kingdom, according to CEO Amin Nasser. ...»

Crude oil trades near $57 as OPEC signals rebalancing could speed up

Oil traded near $57/bbl as OPEC boosted its projections for demand while the group’s top official signaled that producers should continue to curb output. ...»

Crude oil output cuts “only viable option” for market, OPEC head says

ABU DHABI and CAIRO (Bloomberg) -- The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore stability, OPEC Secretary-General Mohammad Barkindo said. ...»

Arctic oil drilling under attack as Norway dragged to court

A group of activists is trying to put a stop to Norway’s Arctic oil exploration and forcing the country to defend itself in the first court case of its kind. ...»

Crude output cuts “only viable option” for market, OPEC head says

ABU DHABI and CAIRO (Bloomberg) -- The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore stability, OPEC Secretary-General Mohammad Barkindo said. ...»

Oil output cuts “only viable option” for market, OPEC head says

ABU DHABI and CAIRO (Bloomberg) -- The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore stability, OPEC Secretary-General Mohammad Barkindo said. ...»

Venezuelan oil output heads to 29-year low as cash crunch grows

Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. ...»

Oil above $80 before Christmas? Some options traders think so

With oil prices trading near their highest level in two years, some traders are betting that the price rise could have more room to run. ...»

Central Park's got nothing on Exxon's super-long shale oil wells

ExxonMobil Corp. is drilling shale wells that stretch farther than the length of New York’s Central Park. ...»

DNV GL secures master services agreement with Chrysaor Holdings

DNV GL has secured a combined engineering services agreement with Chrysaor Holdings Ltd. to deliver a unique range of services to the company in support of its North Sea Operations. ...»

Statoil signs letter of intent for construction of the Johan Castberg hull

Statoil is signing a letter of intent with Sembcorp Marine Rigs and Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea. ...»

Emerald Bay begins Kuhn 4 completion operations ahead of schedule

Emerald Bay Energy Inc. has announced that completion operations have begun on the Kuhn 4 well at the Company’s Wooden Horse play in South Texas. ...»

Oil set for best weekly run this year as Saudis roil market

Oil is heading for a fifth weekly advance as political upheaval in the world’s biggest crude exporter countered an expansion of U.S. output to the highest level in more than three decades. ...»

PDVSA said to open Swiss office after Venezuela hit by sanctions

Venezuela’s state-run oil company is opening an office in Switzerland, the latest step in the cash-strapped firm’s struggle to survive amid tighter U.S. sanctions and declining production. ...»

Iraq's Kurdistan oil payments at risk over independence tensions

Iraq’s Kurdish region handed over almost $80 million to foreign oil producers over the past two days, but future payments may be at risk. ...»

Oil turns from Modi's blessing to burden, threatening economy

Narendra Modi’s first term as leader of the world’s fastest-growing oil market coincided with the biggest price crash in a generation. Crude’s rebound into a bull market is set to test the Indian Prime Minister as he gears up for re-election in 2019. ...»

Weir Oil and Gas expands Permian presence with new customer service center

Fort Worth-based Weir Oil and Gas today broke ground on a 92,000-ft2 customer service center that will be located at the David Mims Business Park on Interstate 20. The new center reflects the company’s strong commitment to the Permian basin region, consolidating three existing Permian-area service center locations into one central location. ...»

As oil prices rise, global majors eye Mexico's deep waters

As the price of oil rises, an international rush is on for Mexico’s untapped deepwater riches. ...»

China's appetite for U.S. energy falls shy of binding deals

China showed its appetite for big ticket investments in U.S. energy production and exports during President Donald Trump’s visit, but left the event with almost no binding deals. ...»

America First Energy Conference examines U.S. energy dominance, policy

The Heartland Institute, a national non-profit research and education organization, hosted the America First Energy Conference in Houston, Texas, on Thursday, Nov. 9th. ...»

Alpha Completions Group expands commissioning services into South Korea

Alpha Completions Group expands services into the Asia-Pacific region, with the recent opening of Alpha Project Services in Geoje, South Korea. ...»

Saudi Aramco signs $4.5 billion worth of agreements for oil, gas mega-projects

Saudi Aramco has signed agreements with several oil and gas service contractors for oil and gas mega-projects designed to enhance the company’s energy sustainability, diversify the economy, expand gas production, and localize domestic content. The agreements are valued at nearly $4.5 billion in total. ...»

Total acquires Engie’s upstream business, becomes second-largest global LNG player

Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. ...»

Crude approaches 28-month high as Saudi crackdown intensifies

Crude resumed its march toward levels last seen in 2015 as escalating tensions in Saudi Arabia raised concerns about stability in the region. ...»

Multi-well pad solution for oil and gas producers boosts real-time data

Drilling advancements, including horizontal drilling techniques, have transformed oil and gas operations from simplistic single-well pad fields to more complex multi-well pads. In turn, operators and equipment builders can modify their control systems approach to optimize these changing applications. ...»

Coast Guard, BSEE respond to oil platform fire

The Coast Guard and the Bureau of Safety and Environmental Enforcement (BSEE) are responding to a report of an oil platform fire in the Gulf of Mexico, Wednesday. ...»

Noble Energy signs agreement to divest 30,200 'non-core' acres in DJ Basin

Noble Energy, Inc. has announced that it has signed a definitive agreement with SRC Energy Inc. to divest approximately 30,200 net acres from the company's non-core DJ basin position in Weld County, Colo. . ...»

Total acquires Engie’s upstream LNG business, becomes second largest global LNG player

Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. ...»

Joint-industry collaboration to boost drone, digital twin technologies in offshore sector

Sembcorp Marine, DNV GL, A*STAR’s Singapore Institute of Manufacturing Technology (SIMTech) and National Additive Manufacturing Innovation Cluster (NAMIC) today signed a memorandum of understanding (MOU) to develop disruptive applications in additive manufacturing, drone and digital twin technologies that could revolutionize solutions for Singapore’s offshore and marine (OandM) sector and boost its global competitiveness. ...»

BP's Dudley inaugurates Oman's Khazzan field

The first phase of development of Oman’s giant Khazzan gas field was officially inaugurated by BP CEO Bob Dudley and Sayyid Haitham bin Tarik Al’Said, minister of heritage and culture for Oman. ...»

TransCanada's hurry up-and-wait Keystone XL status outweighs result

The company is awaiting a key approval from regulators in Nebraska on whether the long-delayed Keystone XL oil pipeline can proceed. That would be one of the last dominos to fall in an almost decade-long push to build a pipeline to bring more crude from Canada’s oil sands to U.S. Gulf Coast refineries. In the meantime, the company posted third-quarter results that met analysts’ estimates, and said it placed two smaller conduits into service. ...»

China Energy Investment plans to invest billions in U.S. shale gas development

West Virginia was the biggest recipient of the $250 billion of investments signed during President Donald Trump’s visit to China. ...»

Statoil unveils Norway’s first platform to be remote-operated from land

The opening of the Valemon control room was celebrated today at Sandsli in Bergen. Valemon will be the first platform in Statoil’s portfolio to be remote-controlled from land. ...»

Schlumberger launches advanced digital integration of rock, fluid analysis services

Schlumberger today inaugurated the newly expanded reservoir rock and fluid analysis laboratory located in Houston, Texas. The new lab enables petrotechnical experts to better leverage physical and digital rock and fluid analysis for comprehensive reservoir characterization. ...»

Halliburton opens new oil and gas training and research center in Nigeria

Halliburton announced today that it worked with the Akwa Ibom state government to inaugurate and open Nigeria’s first oil and gas training center fully-equipped with oilfield operations tools. ...»

Conoco's $1-billion boost signals staying power of U.S. oil

ConocoPhillips has sent a clear signal to global energy markets: For all the recent talk of caution among U.S. drillers, the industry’s still in growth mode. ...»

Oil steady as U.S. output peak counters Middle East concerns

Oil steadied near $57/bbl in New York as data showing U.S. crude output at the highest in at least three decades countered concerns sparked by a political purge in top exporter Saudi Arabia. ...»

Work to resume on $3-billion U.S. gas pipeline

Williams Partners LP was cleared by a federal court to resume construction on a $3-billion pipeline that will help shuttle shale gas across the eastern U.S. ...»

China steps toward U.S. LNG deal as Sinopec inks Alaska pact

China took steps toward its first investment in U.S. LNG as Sinopec agreed to advance a $43 billion project that’s been sidelined by American majors. ...»

UK to offer $2 billion loan guarantee for Saudi Aramco

The UK government agreed to a $2 billion loan guarantee for Saudi Arabian Oil at a time that the country has been courting the Saudi energy giant for the world’s largest initial public offering. ...»

As oil booms, biggest importer signals demand will boom too

Oil investors discouraged by Wednesday’s data showing a retreat in Chinese crude imports can find cheer in another figure released in the world’s top buyer on the same day. ...»

Abrado expands into Africa with opening of new partner operations base

Abrado Wellbore Services, a multi-string section milling and wellbore clean-out specialist company, has secured its first projects in the West Africa region. ...»

Crude tumbles after shock increases in stored oil and production

Traders dumped oil futures after a surprise increase in U.S. crude stockpiles and surging output dashed confidence that a worldwide glut is fading. ...»

New research shows growing interest in industrial IoT adoption, companies in early stages

Bsquare, a provider of Industrial Internet of Things (IIoT) solutions, today released the findings from its first annual IIoT Maturity Study, which explores the current IoT adoption progress of business buyers in manufacturing, transportation, and oil and gas (OandG). ...»

New research shows growing interest in indusrial IoT Adoption, companies in early stages

Bsquare, a provider of Industrial Internet of Things (IIoT) solutions, today released the findings from its first annual IIoT Maturity Study, which explores the current IoT adoption progress of business buyers in manufacturing, transportation, and oil and gas (OandG). ...»

IPAA welcomes House bipartisan SECURE American Energy Act

IPAA recently signed a letter, along with seven other industry trade associations, in support of the SECURE American Energy Act. ...»

Gulf Publishing Company welcomes Brian Nessen, group publisher for pipelines and infrastructure

Brian Nessen, an experienced business-to-business media and trade show executive, has joined Gulf Publishing Company as group publisher. ...»

Eland Oil and Gas provides operational update regarding Nigeria's Opuama field

Eland Oil and Gas PLC, an oil and gas production and development company operating in West Africa with an initial focus on Nigeria, has announced that its joint-venture subsidiary Elcrest Exploration and Production Nigeria Ltd (Elcrest), has successfully handed over the Opuama-7 well to the Opuama field production team and the well is currently flow testing into the production facilities and on to export. ...»

Africa Oil concludes 2017 exploration, appraisal campaign in Kenya

The 2017 exploration and appraisal drilling campaign concluded following the drilling of the Amosing-7 appraisal well. The PR Marriott Rig-46 has been demobilized. Two discoveries were made during the campaign. ...»

OPEC to disappoint oil bulls at November meeting, Citigroup says

Oil bulls banking that OPEC and its allies will later this month agree to extend supply cuts for all of 2018 are set to be disappointed, Citigroup Inc. says. ...»

EIA: Pennsylvania’s natural gas production reaches new high

Pennsylvania’s natural gas production reached a new high of 15 Bcfd in October 2017, an increase of 25% from year-ago levels and an increase of 80% from January 2013. ...»

Oil's surge toward $70 seen dragging it down later

SINGAPORE (Bloomberg) -- Oil bulls, beware of higher prices. ...»

OPITO launches digital delivery of safety-critical training to global oil, gas industry

A digital transformation of oil and gas safety-critical emergency response training is set to save the industry more than a million hours of training time per year, driving time and cost efficiencies across the sector, a gathering of world-wide industry leaders heard today. ...»

Oil steadies near $57/bbl before U.S. crude inventory data

Oil steadied in New York before weekly data on crude inventories in the U.S., the world’s biggest oil consumer. ...»

Shale monster besets OPEC's resurgence through next decade

OPEC sees no respite from shale’s onslaught before the second half of the next decade. Until then, the cartel will stick with the one weapon it still has to prevent another oil price collapse: austerity. ...»

Gas driller Wilbur Ross once tried to save exploring bankruptcy

Exco Resources Inc., the natural gas driller that investor Wilbur L. Ross tried to help rescue before he became U.S. commerce secretary, is considering bankruptcy. ...»

TransCanada eyeing new names that lose "Canada"

TransCanada Corp., which diversified heavily into the U.S. with its $10.2-billion Columbia Pipeline Group Inc. acquisition last year, is seeking trademarks on new company names that would excise its home country. ...»

Simmons Edeco opens first operations base in Denmark

Simmons Edeco, supplier of wellhead and valve maintenance, asset integrity solutions and onshore drilling services to the global oil and gas industry, announced that it has opened its first base of operations in Denmark. ...»

OPEC fightback sees U.S. stocks crumble

OPEC’s finally getting some credibility back behind its swagger, ahead of the oil group’s meeting later this month in Vienna. ...»

OPEC sees no opposition to cuts extension, focuses on duration

OPEC sees no opposition to prolonging its production cuts beyond March and discussions are now focusing on the duration of the extension, said the group’s top official. ...»

ExxonMobil partners with Singapore universities to focus on energy innovation, lower-emissions technologies

ExxonMobil announced today that it is partnering with two Singapore universities to open a Singapore Energy Center in 2019 to focus on new discoveries and significant improvements to technologies that could improve energy production, and enhance energy efficiency and other efforts to mitigate the risk of climate change. ...»

Tenable, Siemens partner to secure critical infrastructure

Tenable, Inc., the Cyber Exposure company, and Siemens, a global engineering and technology leader, announced a strategic partnership to help energy, utilities and oil and gas companies close the industry readiness gap with a new solution for industrial asset discovery and vulnerability management. ...»

OPEC sees U.S. shale oil powering ahead after cuts boost prices

OPEC said shale oil production will grow considerably faster than expected over the next four years after the group’s output cuts triggered a crude-price recovery that helped U.S. producers. ...»

Expro secures well test contract with INEOS Breagh in the Southern North Sea

Leading international oilfield services company, Expro, has been awarded a two year contract to provide well testing services for INEOS, a global manufacturer of petrochemicals, speciality chemicals and oil products. ...»

Oilpatch dealmakers agree to pay more later amid MandA slump

ExxonMobil Corp.’s deal in January for a swath of Permian basin drilling real estate came with a sweetener for the sellers. The heirs of oil tycoon Perry Bass will get $1 billion in cash by 2032 -- if drilling goes well for Exxon. ...»

Italy said to mull sale of Eni stake to state-owned CDP

Italy is considering the sale of part of its stake in energy giant Eni SpA and its holding in air-traffic controller Enav SpA in a bid to raise about 2 billion euros ($2.3 billion) by the end of this year to reduce debt, according to people familiar with the matter. ...»

Chevron not giving up on Canada, plans shale push

Chevron Corp. is planning a significant drilling program in the Duvernay shale formation, marking a vote of confidence in Canada’s energy industry in a year when it joined other majors in selling assets there. ...»

Kruse Energy to conduct multi-million-dollar auction for BJ Services

BJ Services is North America's largest pure-play pressure pumping services company. With an increased focus on its hydraulic fracturing and cementing services, the company has decided to close its U.S. coil tubing division, choosing to sell all its coil tubing assets in a Kruse Energy auction on November 15-16, 2017. ...»

Oil at 28-month high as Saudi anti-graft sweep rattles markets

Oil reached levels last seen more than two years ago as Saudi Arabian King Salman’s anti-corruption drive shook the world’s biggest crude exporter just weeks before major producers gather to discuss prolonging historic production caps. ...»

East Canadian association urges members to press officials about “crippling” legislation

The following note was sent on Friday, Nov. 3, to members of the Newfoundland and Labrador Oil and Gas Industries Association (Noia), by Noia Chairman Andrew Bell. ...»

Oil and Gas Index shows Texas producers continuing to recover

Upstream oil and gas activity in Texas sustained a modest expansion into the 10th straight month in September, according to the Texas Petro Index, which rose to 181.4, 21.4% higher than in September 2016 and 22.4% higher than in November, when the TPI hit bottom at 148.2. ...»

Lundin Norway granted drilling permit for wildcat in PL 533

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for wellbore 7219/12-3 S, cf. Section 8 of the Resource Management Regulations. ...»

Statoil to increase production, gas exports from Fram field

The partners in the Fram licence have decided to invest in a new project to increase production from Fram field in the North Sea. The decision is taken in agreement with the partners in the Troll licence. ...»

Oranto Petroleum to explore South Sudan with BGP

South Sudan’s newest oil and gas entrant Oranto Petroleum has begun its exploration program through an agreement with BGP Inc. South Sudan. The deal comes just eight months after Oranto signed its exploration and production sharing agreement (EPSA) with the government, and kicks off its three-year first exploration commitment period. ...»

Chrysaor awards three-year contract for Central North Sea assets to Sparrows Group

Chrysaor has awarded Sparrows Group a three-year crane management services contract for the three operating assets it took ownership of from Shell in November. ...»

Emerald Bay moves forward with operations at Wooden Horse in South Texas

Emerald Bay Energy Inc. has announced that the Company is moving forward with plans to complete and test the recently drilled Kuhn 4 well, and as noted in the October 11, 2017 press release, the Company is encouraged by multiple potential payzones. ...»

President Energy announces significant upgrades to prospective resources in Argentina

President Energy Plc, the upstream oil and gas company is pleased to announce the results of a new integrated basin study and geochemical survey over the exploration assets of the Company centered on its Puesto Guardian Concession, Matorras and Ocultar Licenses, which have resulted in significant upgrades to the Company’s Prospective Resources. ...»

Mexico announces biggest onshore oil discovery in 15 years

Petroleos Mexicanos announced its biggest onshore discovery in 15 years, just three months after Mexico reported the first major find by private companies, bolstering the nation’s efforts to revive its oil industry. ...»

TechnipFMC awarded subsea contract offshore Sabah, Malaysia

TechnipFMC has been awarded a subsea contract by Murphy Sabah Oil for the Phase 1A Block H Gas Development Project. The project is located in offshore Sabah, Malaysia at a water depth of approximately 1,300 m. ...»

U.S. shale oil trumps risk of supply shock after Saudi purge

The oil market’s more concerned about U.S. shale supplies than any repercussions from a crackdown that’s enveloped royals and billionaires in Saudi Arabia. ...»

Statoil receives consent to use Askeladden mobile facility at Gullfaks Sør field

Statoil has received consent to use the Askeladden mobile drilling facility for well activities on the Gullfaks Sør field (Gullfaks satellites). ...»

IEA welcomes Greece's progress with energy sector reform

Greece has made noticeable progress with its energy-sector reforms in recent years. The country moved forward on plans to restructure state-owned companies and liberalize electricity and gas markets, an impressive program that will lead to more competitive and financially viable energy markets offering choices and low prices to consumers, according to the International Energy Agency's latest in-depth review of Greece's energy policies. ...»

FairfieldNodal adds to Delaware basin database

FairfieldNodal’s Red Tank acquisition project in the Delaware basin continues to progress on schedule. There are 380 sq mi of fast-track data now available, completing this portion of the project. Final PSTM data will be available mid-December 2017, and a PSDM product is expected in early first-quarter 2018. ...»

Oil Search acquires $400-million in Alaskan oil assets

Oil Search signed an agreement to acquire a number of oil assets in the Alaska North Slope from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC. ...»

LNG may battle oil for buyers this winter as discount disappears

A shrinking discount for liquefied natural gas versus oil will stoke competition for buyers in some markets heading into the winter heating season, said Madeline Jowdy, senior director of global gas and LNG at Pira Energy Group in New York. ...»

Venezuelan oil too big to fail, at least for China and Russia

Venezuela’s sudden demand to renegotiate its billions in debt could complicate life for its two biggest oil patrons, China and Russia. ...»

Oil extends surge as OPEC signals deal, supply threats mount

Oil closed at its highest in more than two years for a second day as support grew for OPEC to prolong output cuts, while supply threats abounded. ...»

Nigerian militants end cease-fire, say oil attacks to restart

A militant group in Nigeria’s southern Niger River delta, whose attacks on oil installations in 2016 cut output to the lowest in three decades, said it ended a self-imposed cease-fire and will resume its violent campaign. ...»

Nigeria militants end cease-fire, say oil attacks to restart

A militant group in Nigeria’s southern Niger River delta, whose attacks on oil installations in 2016 cut output to the lowest in three decades, said it ended a self-imposed cease-fire and will resume its violent campaign. ...»

Venezuela will seek to restructure debt, blaming sanctions

President Nicolas Maduro said Venezuela will seek to restructure its global debt after the state oil company makes one more payment, blaming U.S. sanctions for making it impossible to find new financing. ...»

Venezuela's restructure heightens Rosneft's $6-billion risk

The risks associated with Rosneft PJSC’s $6 billion advance to Venezuela’s oil company for future crude shipments have deepened after the Latin American nation announced plans to restructure crushing debts. ...»

Eni CEO meets with Ghana's president

The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, and Eni CEO Claudio Descalzi met today in Accra to discuss Eni’s activities in the country, where operational activities are complemented by programs to enhance access to energy, socioeconomic development, health promotion and development of renewable energy sources. ...»

Lundin Petroleum granted drilling permit for North Sea appraisal well

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for wellbore 7219/12-2 A S, cf. Section 8 of the Resource Management Regulations. ...»

Russian-Iranian framework established for gas sector cooperation

A number of documents were signed in Tehran on the margins of the visit to the Islamic Republic of Iran by Russian President Vladimir Putin. The documents are aimed at fostering Russian-Iranian cooperation in the gas sector. ...»

Oil extends rally on expectations OPEC will lengthen output cuts

Oil extended gains from the highest close in more than two years on signs that OPEC will extend production cuts when it meets at the end of this month. ...»

China Poly to see Ethiopian gas exports by 2019, minister says

China Poly Group plans to start exporting natural gas from Ethiopia’s eastern Ogaden basin by mid-2019 as it continues to explore near the border with Somalia, Petroleum Minister Motuma Mekassa said. ...»

Proposed U.S. tax overhaul jibes with oil industry

The tax overhaul proposed in the U.S. House is a better bet for oil and gas companies than solar developers or electric car buyers, keeping with President Donald Trump’s decidedly fossil-fuel friendly views. ...»

Oil supermajors battle for dominance after metamorphic downturn

The world’s biggest oil companies are jostling for supremacy as they emerge from a life-changing downturn. ...»

U.S. to exit global anti-corruption effort aimed at oil cash

The Trump administration said it will exit a global anti-corruption effort that compels oil, gas and mining companies to disclose the payments they give governments worldwide. ...»

Iraq's oil export talks with Turkey vexed by $4-billion Kurd debt

Baghdad’s talks with Turkey about ramping up oil exports from northern Iraq, including the semi-autonomous Kurdish region, is complicated by a $4 billion debt that the Kurds owe to Turkey, according to Iraq’s oil minister. ...»

GE slide evokes memory of 2009 financial crisis

It must be feeling an awful lot like 2009 for General Electric Co. shareholders. That’s not a good thing. ...»

Oil hits 28-month high as OPEC behemoths back extending limits

Oil closed at the highest level in more than two years as OPEC’s two biggest members publicly endorsed an extension of production caps that have eroded a worldwide glut. ...»

Exxon spends $1 billion each year in quest to turn emissions into electricity

One of the world’s biggest oil companies is pumping more than $1 billion a year into alternative forms of energy from algae engineered to bloom into biofuels and cells that turn emissions into electricity. ...»

Petrobras begins negotiation with BP towards strategic alliance

Petrobras informs that has signed a Letter Of Intent (LOI) with BP to jointly identify and evaluate business opportunities involving assets or ventures in Brazil and abroad, which include cooperation on upstream, downstream, gas transportation and marketing, LNG, oil trading, lubricants, aviation fuel, power generation and distribution, renewables, technology and low carbon initiatives, with the purpose of developing a potential strategic alliance between the companies. ...»

Engie EandP increases resource estimate on Cara discovery

Engie EandP, the operator of the Cara-license (PL 636) in the Norwegian sector of the North Sea, is increasing the resource estimate. Engie EandP now estimates that the Cara discovery contains 56 to 94 MMboe. ...»

Iraq's oil exports decline as Kurdish fight cuts output

Iraq’s crude exports fell 7% in October after the Kurdish region held an independence referendum that sparked fighting with federal troops, interrupting pipeline sales. ...»

Top OPEC ministers say longer cuts needed but duration undecided

While OPEC and its allies agree their output-cut deal needs to be prolonged as bloated inventories won’t shrink to normal levels by March, they’re yet to reach consensus on how long the pact must be extended, according to ministers from three of the top producers. ...»

Oil trades near $54/bbl as U.S. crude stockpiles resume decline

Oil traded near $54/bbl as traders remained cautious on how quickly a global oil glut is diminishing. ...»

TransCanada to pressure Alberta on Keystone capacity

TransCanada Corp. is pressing the Alberta government to buy capacity in its Keystone XL pipeline, seeking the same type of support the province had pledged for its canceled project to the Atlantic coast, people familiar with the matter said. ...»

Oil-sands buyout spree paying off as acquisitions boost output

The acquisition spree that returned much of Alberta’s oil sands to Canadian hands is so far working out as the buyers projected, with results at Canadian Natural Resources Ltd. and Cenovus Energy Inc. beating expectations on the back of higher output and lower costs. ...»

Even the smallest economy in oil-rich gulf is too big to fail

Its economy is 5% the size of Saudi Arabia’s, but analysts are betting the kingdom won’t let its neighbor’s financial woes morph into a Gulf crisis. ...»

Shell takes Exxon Mobil's cash-flow crown as profit beats estimate

Shell has taken Exxon Mobil’s cash-flow crown, a year after completing the biggest deal in its history. ...»

Maersk Drilling secures North Sea contract with Nexen Petroleum U.K. Limited

Maersk Drilling has been awarded a contract by Nexen Petroleum U.K. Limited following a competitive tender exercise for the drilling of three wells and options for nine additional wells at UK’s largest producing oil field, the Buzzard field in the central North Sea. ...»

New standards for transport, storage of carbon dioxide announced

Two international standards for storage and transport of carbon dioxide (CO2) will be launched today. The standards were developed by experts from 16 countries. ...»

Shell completes sale of UK North Sea asset package to Chrysaor for up to $3.8 billion

Shell has completed the sale of a package of UK North Sea assets to Chrysaor for a total of up to $3.8 billion, including an initial consideration of $3.0 billion and a payment of up to $600 million between 2018-2021 subject to commodity price, with potential further payments of up to $180 million for future discoveries. ...»

Rosneft, National Iranian Oil Company sign strategic oil and gas agreement

During the visit of the Russian President Vladimir Putin to the Islamic Republic of Iran, Rosneft Oil Company and National Iranian Oil Company signed an agreement termed the “Road Map and Key Terms of Strategic Cooperation in the Field of Oil and Gas.” ...»

Africa's oil industry needs to harness innovation, technology, PwC says

The oil and gas industry in Africa continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators. ...»

Africa unites to garner investment at Africa Oil Week in Cape Town

The African oil industry met this week to discuss the potential, but also the challenges, that the industry faces as the continent moves towards the commercialization of its huge gas and oil reserves. ...»

Caliche Development announces natural gas liquid storage project in Beaumont

Caliche Development Partners, LLC announced today that service is set to begin in third-quarter 2018 for the initial NGL storage project at its recently-acquired subsidiary, Coastal Caverns, Inc. ...»

Africa unites to attach investment at Africa Oil Week in Cape Town

The African oil industry met this week to discuss the potential, but also the challenges, that the industry faces as the continent moves towards the commercialization of its huge gas and oil reserves. ...»

EIA: Widening Brent-WTI price spread unlikely to change East Coast crude oil supply

In September and October 2017, the difference between domestic and foreign crude oil prices has risen to the highest level since 2015. In the past, price differences between West Texas Intermediate (WTI) and Brent crude oil led to changes in crude oil supply for petroleum refineries in the U.S. East Coast region. However, recent price changes are not expected to affect East Coast crude oil supply unless the gap continues and widens. ...»

Caliche Development Partners announces natural gas liquid storage project in Beaumont

Caliche Development Partners, LLC announced today that service is set to begin in third-quarter 2018 for the initial NGL storage project at its recently-acquired subsidiary, Coastal Caverns, Inc. ...»

Clariant expands support for local North American oil services customers

Clariant, a world leader in specialty chemicals, announces a low single-digit million amount investment to strengthen two of its North American Oil Services sites in order to further support customer growth in key oil basins. ...»

Oil and Gas UK welcomes multi-billion-dollar North Sea deals

Commenting on two major North Sea deals completed within the past 24 hours, Deirdre Michie, chief executive at the industry trade association Oil and Gas UK, said the deals are "hugely significant." ...»

Oil majors find their way back to normality as earnings surge

Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business. ...»

U.S. oil rises to 10-month high as stockpiles drop

Oil rose to the highest level since early January in New York on expectations that government data will confirm another drop in U.S. crude inventories as the global surplus recedes. ...»

Crude output threatened as Norway explorers neglect North Sea

Oil explorers are neglecting their old hunting grounds in the North Sea, threatening to deepen an expected slump in Norway’s output in the middle of the next decade, the country’s industry regulator warned. ...»

Shell sells UK North Sea asset and Gabon onshore interests

Shell has completed the sale of a package of UK North Sea assets to Chrysaor for a total of up to $3.8 billion. ...»