Shale sends U.S. output past historic 10-MMbpd mark

U.S. oil production surged above 10 MMbpd for the first time in four decades, another marker of a profound shift in global crude markets. ...»

Shale sends U.S. output past historic 10-MMbbl mark

U.S. oil production surged above 10 MMbpd for the first time in four decades, another marker of a profound shift in global crude markets. ...»

Chevron boosts quarterly dividend for first time since late 2016

Chevron Corp. raised its quarterly dividend as the world’s third-largest oil explorer by market value emerges from the worst crude market collapse in decades. ...»

Exxon muscled up with $10-billion asset grab before oil rise

Like its ocean-crossing oil tankers, ExxonMobil Corp.’s strategy can take some time to turn. When it does, the impact can be striking. ...»

Shell's deepwater Whale well strikes pay in the Gulf of Mexico

Shell Offshore Inc. has announced one of its largest U.S. Gulf of Mexico exploration finds in the past decade from the Whale deepwater well. The well encountered more than 1,400 net ft (427 m) of oil bearing pay. ...»

U.S. shale growth could support Caribbean oil storage owners

Caribbean oil terminals hurt by dwindling Venezuelan supply and a market that encourages traders to pull oil out of tank may get a shot in the arm from U.S. shale. ...»

Total reports major deepwater discovery in the Gulf of Mexico

Total announces a major oil discovery in the Ballymore prospect, located deep offshore in the U.S. Gulf of Mexico (Eastern GoM). ...»

BP exploration discoveries mark positive start for North Sea in 2018

Oil and Gas UK says two new exploration discoveries in the North Sea by a super-major mark a more positive start to the year for the UK’s offshore industry. ...»

Oil pares strongest January since 2013 on U.S. supply outlook

Oil slipped for a third day in New York, continuing its retreat from a three-year high, on estimates that U.S. crude stockpiles increased last week. ...»

Biggest OPEC producer deals blow to tiny rival in top market

Tiny OPEC producer Qatar is paying the price for top member Saudi Arabia’s oil strategy in Asia. ...»

As oil majors escape the rout, key questions emerge for 2018

For the world’s largest oil explorers, it’s a time of transition. ...»

Western Europe's biggest oil producer is getting another fix

A rally in the price of black gold is giving Norway another fix. ...»

Trelleborg contributes to floatover of topside for world’s largest FPSO spar platform

Floatover equipment from Trelleborg’s engineered products operation has contributed to the successful mating of Statoil’s landmark Aasta Hansteen gas field project’s 24,000-ton topside and the world’s largest Spar FPSO platform, off the coast of Norway at Stord. ...»

Shell to sell stake in Thailand’s Bongkot field for $750 million

Shell Integrated Gas Thailand Pte Ltd. and Thai Energy Company Ltd., affiliates of Royal Dutch Shell Plc, have agreed to an asset sale of their 22.2222% interest in Bongkot field and adjoining acreage offshore Thailand to PTT Exploration and Production Public Company Limited (PTTEP) and PTTEP International Limited. ...»

Saudis deal blow to small rival in top market

Qatar is paying the price for top member Saudi Arabia’s oil strategy in Asia. ...»

Egypt with Eni to fast-track Zohr gas output

Egypt is working with Eni SpA, operator of the giant Zohr gas field, to fast-track output and end the country’s need to import LNG. ...»

Trump tax plan a $190-billion boost to U.S. oil, study shows

When President Donald Trump gives his State of the Union address Tuesday night, he’ll surely tout the sweeping U.S. tax overhaul approved by Congress last month. For the country’s oil explorers, the law should mean an almost $200-billion boost in asset values, one consultant says. ...»

Noble Energy announces partial divestment of Israel's Tamar field

Noble Energy, Inc., has announced that it has signed a definitive agreement to divest a 7.5% working interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. for cash proceeds of approximately $560 million and 38.5 million shares of Tamar Petroleum. ...»

ExxonMobil to triple Permian output by 2025, expand transportation infrastructure

ExxonMobil today announced that it plans to triple total daily production to more than 600,000 boe by 2025 from its operations in the Permian basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. ...»

Total reports first oil at Alberta's Fort Hills project

Total announces that the Fort Hills oil sands project located in Alberta, Canada, 90 km north of Fort McMurray, has achieved first oil. ...»

Wintershall to expand crude oil production at Germany's Emlichheim site

Wintershall is expanding its crude oil production at its Emlichheim site in Lower Saxony (County of Bentheim). ...»

BHGE AM '18: Design challenges of Novatek's Yamal LNG and Arctic LNG 2

In a keynote speech on Day 2 of the 2018 BHGE Annual Meeting (BHGE AM), Mark Gyetyay, CFO and Deputy Chairman of the management board of Novatek, discussed the Yamal LNG and Arctic LNG 2 projects in Russia. ...»

BHGE AM '18: Execs push global responsibility for local projects

On Tuesday morning of the 2018 BHGE Annual Meeting (BHGE AM), an executive panel moderated by Uwem Ukpong, Chief Global Operations Officer of BHGE, examined procuring global capacities to meet local needs. ...»

BHGE AM '18: BP Upstream CEO touts 'collaborating for competitiveness'

Bernard Looney, CEO of Upstream for BP, shared his views on the topic of collaboration to overcome industry challenges and build deeper partnerships on day two of the BHGE 2019 Annual Meeting. ...»

Oil futures lose steam on threat of U.S. crude inventory growth

Oil’s slowing down as danger signs flash ahead. ...»

Ethiopian oil refinery planned as Blackstone pipeline shelved

Ethiopia’s fast-growing economy has Asian investors lining up to build a new $4 billion oil refinery, even as a Blackstone Group LP-backed fuel pipeline project is shelved. ...»

Emerald Bay Energy carries out production testing at Texas' Wooden Horse project

Emerald Bay Energy Inc. has announced that the Company has completed the initial phase of production testing on the Kuhn 4 well at the Company's Wooden Horse project in Southwest Texas. ...»

Saudi business mulls U.S. shale venture in first foreign foray

Saudi International Petrochemical Co. is considering investing in the U.S. shale industry in what would be the company’s first foreign venture as it faces higher costs and a shortage of feedstock at home in Saudi Arabia. ...»

No. 2 OPEC producer loosens oil shackles for premium prices

OPEC’s second-biggest producer is relinquishing some control over its prized oil in exchange for better prices. ...»

Top Norway fund manager is betting on rigs for 200% return

After more than three years of taking a hammering, drillers are set to rise. ...»

PetroChina says profit may triple amid cost cuts, higher oil

PetroChina Co., the country’s biggest oil and gas producer, forecast that full-year profit rebounded off a record low and may have tripled amid cost cutting and higher energy prices. ...»

BP reshapes portfolio to ensure oil assets aren't left undrilled

BP is looking to a future beyond oil as it concedes some crude will be left in the ground. ...»

BHGE AM '18: Shell exec calls for greater energy renaissance

Harry Brekelmans, Royal Dutch Shell PLC's Projects and Technology Director, shared his ideas about what has been accomplished—and how much more needs to be accomplished—in the ongoing energy renaissance, on day one of the BHGE Annual Meeting (BHGE AM). ...»

BHGE AM '18: CEO Simonelli pushes improved project economics in new energy cycle

Lorenzo Simonelli, Chairman and CEO of BHGE, opened up the 2018 BHGE Annual Meeting (BHGE AM) in Florence, Italy, on Jan. 29 with a talk welcoming attendees. The 19th Annual Meeting is a record year for attendance, according to the CEO. ...»

Exxon's $50-billion bonanza returns spending to pre-rout level

ExxonMobil Corp. is set to spend $50 billion over the next half decade in a return to the oil giant’s spending habits before crude suffered its worst price rout in a generation. ...»

Rose Petroleum identifies multiple drilling targets in Utah's Paradox basin

Rose Petroleum plc, the AIM quoted natural resources business, is pleased to announce it has now completed the initial structural interpretation of the 3D seismic data it acquired over its Gunnison Valley Unit (GVU), which is part of its larger lease holding in the Paradox basin, Utah. ...»

Jersey Oil and Gas announces approval of Verbier appraisal

Jersey Oil and Gas, an independent upstream oil and gas company ‎focused on the UK Continental Shelf (UKCS) region of the North Sea, is pleased to announce that the co-venturers in respect of UKCS Licence P.2170 (Blocks 20/5b and 21/1d) (P.2170), which contains the Verbier oil discovery and the Cortina prospect, have approved a work program and budget for 2018. ...»

Energean appoints Stena drillship for development drilling at Israel's Karish field

Energean Oil and Gas is pleased to announce that Energean Israel has signed a contract with Stena Drilling for the development drilling of Karish field, offshore Israel. ...»

Otto Energy reports successful well results at South Marsh Island Block

Otto Energy Limited has advised that its OCS-G34266 #F3 well (F3) on South Marsh Island Block 71 (SM 71), was drilled to a final TD of 7,717 ft Measured Depth (MD) on Jan. 26, 2018. ...»

Top Norway fund manager bets on rigs for 200% return

After more than three years of taking a hammering, drillers are set to rise. ...»

Oil declines below $66 as rig count rises, dollar stronger

U.S. oil slipped below $66/bbl, hampered by the biggest rise in the oil rig count since March and a firmer dollar. ...»

Emerson announces acquisition of GeoFields, Inc.

Emerson has acquired GeoFields, Inc., a leading global supplier of software and implementation services for pipeline integrity data collection, management and risk analysis for the oil and gas industry. ...»

Saudi Aramco awards contract for 13 jackets to McDermott International

McDermott International, Inc., has announced a large* contract award from Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of 13 jackets in Zuluf, Marjan, Berri and Abu Safah fields, offshore Saudi Arabia. ...»

Rocky road for Colorado drillers as regulatory clampdown looms

Months after a pair of deadly explosions in the Colorado oil patch, drilling stocks remain hobbled by the specter of a regulatory clampdown. ...»

Crude looks unstoppable as hedge funds take bets to new high

The enthusiasm in the oil markets is breaking records. ...»

U.S. rig count expands most in 10 months as oil prices surge

EandP companies deployed more drilling rigs across U.S. oil fields this week as crude prices pushed to levels not seen in more than three years. ...»

Norway grants drilling permit to Spirit Energy Norge AS

The Norwegian Petroleum Directorate has granted Spirit Energy Norge AS a drilling permit for wellbore 35/9-14, cf. Section 15 of the Resource Management Regulations. ...»

Oil advances as cheap dollar stokes demand for tightening supply

Oil is on course for its third weekly gain this month as the cratering value of the U.S. currency elevated demand for dollar-denominated commodities when spare crude supplies already were shrinking. ...»

U.S. rig count expands most in 10 months as crude oil prices surge

EandP companies deployed more drilling rigs across U.S. oil fields this week as crude prices pushed to levels not seen in more than three years. ...»

Keystone is doable even with new route, TransCanada CEO says

Keystone XL is feasible, though a touch more costly, even after Nebraska regulators imposed an alternative route. ...»

Landowners, fracers in tense face-off in wake of Colorado blast

The fracing frenzy in Colorado is spurring a tense faceoff between shale drillers in the region and residents seeking a better handle on the dangers in their own backyards after a killer pipeline explosion last year. ...»

As Siberian gas awaits U.S. landing, a second ship may be coming

A second tanker carrying Russian natural gas may be on the way to the U.S., following in the footsteps of a ship now sitting near Boston Harbor with a similar cargo. ...»

Cyprus receives €101MM grant for FSRU project

Connecting Europe announced on Jan. 25 that it will support the introduction of natural gas in Cyprus through the CyprusGas2EU project (EU support of €101 MM). ...»

Cryptocurrency mining operation launched by Iron Bridge Resources

Iron Bridge Resources Inc. has announced the formation and launch of a wholly-owned cryptocurrency mining and hosting operation called Iron Chain Technology Corp. (ICT). ...»

Oil's heavy hitters line up to dive into Mexico's deep waters

If you’re a super-major oil explorer, Mexico says it’s got a bargain for you. ...»

Nigeria can't rely on rising oil prices, finance minister says

Africa’s top oil producer is learning to ignore crude prices, Nigeria’s Finance Minister Kemi Adeosun said. ...»

TAQA to transform Eider platform, extend the life of North Sea fields

Abu Dhabi National Energy Company PJSC (TAQA) is transforming its Eider platform and ensuring continued production from Otter field, as part of its strategy to maximize economic recovery and extend the life of its oil and gas fields in the Northern North Sea (NNS). ...»

Optimism reigns in oil market as focus turns to stockpile drop

Oil surged to the highest level in more than three years as investors cheered a record run of declines in American crude stockpiles, showing resolve in the face of surging U.S. shale output. ...»

Qatar passes first test in LNG expansion

Qatar managed to keep liquefied natural gas exports flowing last year even under a Saudi-led embargo, passing its first test in its plans to expand LNG production. ...»

Saudis wobble on timing of Aramco IPO, OPEC cuts

Saudi Arabia has insisted there’s no connection between plans to sell part of its state oil giant and an OPEC strategy that supports crude prices. But within days, it’s hesitated on the time-frame for both. ...»

Enpro Subsea receives PE funding for development of production, intervention technologies

Enpro Subsea has secured investment from EV Private Equity (EV) to grow its production optimization business into new and existing international markets and further develop its range of production optimization and intervention technologies. ...»

Qatar mulls potential partners amid plans to expand LNG production

Qatar managed to keep liquefied natural gas exports flowing last year even under a Saudi-led embargo, passing its first test in its plans to expand LNG production. ...»

Kuwait reduces production target for 2020

Kuwait Foreign Petroleum Exploration Co. reduced its output target for oil and natural gas due to the drop in crude prices that started in 2014, CEO Sheikh Nawaf Saud Al-Sabah said. ...»

Reveal Energy Services validates more than 2,500 hydraulic fracturing stages

Reveal Energy Services has announced the company has validated more than 2,500 hydraulic fracturing stages throughout the U.S. with its pressure-based fracture maps. ...»

Mexico to hold bid rounds as presidential election nears

Mexico is trying to lure as much oil investment as possible before the president who overhauled the country’s energy industry leaves. ...»

Operators benefit from valve resilience in hostile PandA environments

Churchill Drilling Tools, an oilfield service company specializing in drilling innovation, continues to report growing demand, despite the global reduction in drilling operations, for its tools and in particular its flagship product, the dart activated DAV MX CircSub. ...»

Patterson-UTI, Red Mountain Energy release statements following Oklahoma disaster

Drilling contractor Patterson-UTI Energy and operator Red Mountain Energy have released statements addressing Monday's tragic explosion that took place at the site of a drilling operation in Oklahoma, resulting in the deaths of five workers. ...»

Cabot Energy provides production update

Cabot Energy, the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, provides the following update on current production in Canada and guidance on the 2018 investment program. ...»

Oil extends three-year high after record pullback in stockpiles

Oil extended its three-year high as a record stretch of declines in U.S. crude stockpiles added to signs that global markets are burning off a chronic surplus. ...»

China passes South Korea as No. 2 LNG importer

China’s General Administration of Customs just confirmed what liquefied natural gas industry insiders have been speculating for weeks: There’s a new No. 2 in town. ...»

Crude breaks $65 as record drawdown whittles U.S. oil stockpiles

Crude popped above $65/bbl for the first time in more than three years after U.S. crude stockpiles fell for a 10th week in the longest stretch of declines on record. ...»

Part two of Petrotechnics survey reveals additional OE insights

The second installment of Petrotechnics’ Operational Excellence Index (OEI) has revealed companies in hazardous industries are embracing digital transformation as a means of achieving Operational Excellence (OE), but the rapid pace of innovation and fear of change could pose barriers to widespread adoption. ...»

ConocoPhillips, Statoil enter joint industry project with Visuray Technology

ConocoPhillips and Statoil Petroleum AS have signed a joint sponsorship development agreement with Visuray Technology Limited, to fund the development of novel downhole technology that can evaluate the integrity of cement behind multiple casing strings in oil and gas wells. ...»

ConocoPhillips, Statoil enter joint industry project with Visuray Technology

ConocoPhillips and Statoil Petroleum AS have signed a joint sponsorship development agreement with Visuray Technology Limited, to fund the development of novel downhole technology that can evaluate the integrity of cement behind multiple casing strings in oil and gas wells. ...»

Total acquires interest in Anchor discovery, in deepwater Gulf of Mexico

Total has signed an agreement with Samson in order to acquire Samson Offshore Anchor, LLC, which holds a 12.5% interest in four blocks covering the Anchor discovery, one of the most significant recent discoveries in the Gulf of Mexico (GOM). ...»

Aramco seen swapping Saudi oil for fuel to tap new markets

Saudi Aramco’s trading unit started swapping the kingdom’s crude oil for products refined in other countries, allowing the company to tap new markets, according to its CEO. ...»

Texas oil production leads recovery in 2017, record output predicted in 2018

Twenty-seventeen was an important year of growth and recovery for the upstream oil and gas industry in Texas, according to the Texas Petro Index, which marked its 13th consecutive increase in December by improving to 188.8, nearly 25% higher than then December 2016 TPI of 151.2. ...»

United Oil and Gas announces option agreement to farm into UK's Acle prospect

United Oil and Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce a no cost option agreement to farm into offshore Block 49/29c UK Licence P2264, which contains the Acle prospect (option agreement), jointly owned by Swift Exploration Limited (50%) and Stelinmatvic Industries Ltd. (50%). ...»

Premier Oil exports first cargo of Catcher oil

Premier is pleased to provide the following update on its operated Catcher Area development, which was successfully brought on-stream on Dec. 23, 2017. ...»

Oil rally pauses on signs U.S. crude tanks start to fill again

Oil’s advance slowed after prices hit a new three-year high amid signs that U.S. crude stockpiles increased last week. ...»

Major companies to plan tenfold expansion of cost-cut collaboration

DAVOS (Bloomberg) -- The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to produce hydrocarbons to reduce costs. ...»

Twister, Petronas enter joint development program

Twister B.V. and Petronas have entered into a joint development program for the use of Twister technology for the monetization and processing of acid gas fields containing large amounts of CO2. ...»

Major projects get off the ground as prices surge

The global oil industry’s backlog of big drilling projects is starting to shrink as prices improve. ...»

Iceland's oil dream in peril as China, Norway give up last block

Iceland’s hope of finding oil offshore its coast is fading after China and Norway decided to back out of the island nation’s only remaining exploration license. ...»

LLOG Exploration begins drilling at Buckskin project, in deepwater Gulf of Mexico

LLOG Exploration Company, LLC, has announced that development drilling operations have begun at the Buckskin project in the deepwater Gulf of Mexico. ...»

Petrofac secures key North Sea contract from Chevron

Petrofac’s Engineering and Production Services (EPS) division has been awarded a new Offshore Manning Services contract by Chevron North Sea Limited (Chevron). ...»

Heerema Fabrication Group awarded EPCI contract by Tulip Oil

Tulip Oil Netherlands Offshore B.V. has awarded Heerema Fabrication Group (HFG) an Engineering, Procurement, Construction and Installation (EPCI) contract for the Q10-A unmanned offshore platform. ...»

SDX Energy strikes more gas in Morocco's Hoot formation

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at its ONZ-7 development well on the Sebou permit in Morocco. ...»

Equally impressive: Maersk Discoverer drills in shallow waters

Did you know that on a deepwater rig it is just as challenging to drill in shallow water as in very deep water? ...»

Oil gains before expected reduction in U.S. stockpiles

Oil traded near $64/bbl in New York after briefly spiking, ahead of data that may show a record run of U.S. inventory declines. ...»

Oil giants said to plan tenfold expansion of cost-cut collaboration

The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to pump oil and gas, hoping they can deliver significant cost savings, said people familiar with the matter. ...»

Aker Solutions wins subsea orders for Troll and Askeladd projects

Aker Solutions was awarded contracts from Statoil to provide subsea production systems and services for the Troll Phase 3 and Askeladd natural-gas developments offshore Norway. ...»

World’s largest hedge fund sees Brent at $80 on OPEC cuts

BBL Commodities believes Brent crude will climb to $80/bbl this year as stockpiles drop rapidly on production cuts made by OPEC and its allies. ...»

Extending alliance, oil's big two seek smooth exit from cuts

The pledge Saudi Arabia and Russia made to keep working together on managing the oil market beyond 2018 shows the two energy giants are now looking to engineer an orderly exit from the deal. ...»

Oil wavers on a hint that Saudis, Russia may extend curbs into 2019

Crude futures are little changed, toggling between gains and losses as hints that OPEC may extend its output cuts into 2019 opened concern the curbs may not be working quickly enough. ...»

Aker BP inks frame agreement with Aqualis Offshore

Under the Frame Agreement, Aqualis Offshore will provide marine warranty surveyor and marine services to Aker BP’s fixed platforms, mobile units and subsea fields on the Norwegian continental shelf. ...»

Oil erases gains even as ministers say output cuts will continue

Brent crude declined even after Saudi Arabia and Russia pledged over the weekend to continue oil supply cuts. ...»

Top Indian oil explorer may raise $5.48 billion to buy HPCL

India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp. ...»

Lundin Petroleum announces reserves and contingent resources update

Lundin Petroleum AB has announced that as of Dec. 31, 2017, its proved plus probable net reserves (2P reserves) are 726 MMboe, its proved plus probable plus possible net reserves (3P reserves) are 895 MMboe and its best estimate net contingent resources (contingent resources) are 203 MMboe. ...»

Sound Energy divests Italian portfolio through acquisition by Saffron Energy

Sound Energy, the African and European focused upstream gas company, has announced that it has entered into a binding conditional sale and purchase agreement with Saffron Energy Plc under which it is proposed that Saffron acquires Sound Energy's portfolio of Italian interests and permits through the acquisition by Saffron of the entire issued share capital of the Company's wholly owned subsidiary, Sound Energy Holdings Italy Limited (SEHIL). ...»

Otto Energy reports drilling on South Marsh Island Block, in the Gulf of Mexico

Otto Energy Limited has advised that the OCS G-34266 #F-3 well (F3) on South Marsh Island Block 71 (SM 71), was drilled to a depth of 3,539 ft MD on Jan. 15, 2018, where 10 3/4-in. casing was set and cemented in place. ...»

Libya restarts Wintershall's oil fields to boost national output

Libya’s state energy producer announced the restart of production at Wintershall’s Sara oil fields more than two months after they were closed by protests. ...»

Abu Dhabi gets bids for offshore oil in plan to expand capacity

Abu Dhabi’s government oil producer received bids in the fourth quarter from international energy companies seeking stakes in offshore fields that pump about 25% of the Persian Gulf emirate’s crude. ...»

Waters near Florida still being considered for oil drilling

Despite Interior Secretary Ryan Zinke’s Jan. 9 declaration that Florida is "off the table" for offshore oil drilling, that activity is actually still on the table. ...»

OPEC, Russia signal global oil alliance may endure past 2018

OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until the end of the year to clear a global glut and signaled their readiness to cooperate beyond that. ...»

ExxonMobil acquires exploration, production rights for Ghana's Cape Three Points

ExxonMobil today announced that it has signed a petroleum agreement with the government of Ghana to acquire exploration and production rights for the Deepwater Cape Three Points block. ...»

Crude loses upward momentum amid U.S. output growth worries

Crude edged lower amid predictions of a steep hike in U.S. crude output this year. ...»

Giant Kashagan oilfield resumes output after power disruption

Kazakhstan’s giant Kashagan oilfield is resuming production after power disruptions cut output this week. ...»

Nigeria moves closer to energy overhaul with new oil bill

Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry. ...»

Emerald Bay perforates final three wells at MarPat lease in Texas

Emerald Bay Energy Inc. has announced that the Company began operations this morning to perforate the final three wells of the MarPat partnerships. The MarPat wells have shown commercial viability in the Anacocho, Olmos, and Escondido formations. ...»

Prospex Oil and Gas reports significant commercial gas discovery onshore Italy

Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by the operator Po Valley Energy Limited (PVE) that strong flowrates from testing operations have confirmed a significant commercial gas discovery at the Podere Maiar-1d appraisal/redevelopment well. ...»

Oil outpaces ruble giving Russian drillers cause for cheer

Russia’s oil producers are enjoying near record crude prices -- in rubles -- and having their best start to the year since 2015. As the nation prepares to discuss its deal with OPEC allies in Oman this weekend, analysts say the good times will continue. ...»

Oil majors seek diversity but struggle with retention, CEO says

The oil industry is doing a better job of hiring women. Keeping them remains the challenge, says ConocoPhillips CEO Ryan Lance. ...»

Kurdish gas project gets boost amid political tumult

Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics. ...»

ELA Offshore to equip Jumbo MV Fairplayer

ELA Container Offshore GmbH has recently delivered two ELA Offshore Living Quarters, Type Allrounder, to Jumbo Offshore. The TLQs were installed on board their Construction Support Vessel MV Fairplayer. ...»

CGG, SNH promote Cameroon's 2018 Licensing Round

CGG has announced that it has an agreement with Société Nationale des Hydrocarbures (SNH), the National Oil and Gas Company of Cameroon, to promote enhanced multi-client EandP data packages and interpretative products, in support of Cameroon’s 2018 Onshore and Offshore Licensing Round opened and conducted by SNH for eight free blocks on offer, located in sedimentary basins offshore and onshore Cameroon. ...»

Tanker with Russian gas for Boston makes mid-Atlantic U-turn

Three weeks after picking up a controversial cargo in the UK, a liquefied natural gas tanker made a U-turn one day before it was due to deliver it in Boston. ...»

IEA prediction of explosive U.S. oil growth stokes OPEC fears

OPEC’s fear that another surge of shale oil could neutralize its production cuts might be coming true. ...»

Fugro undertakes marine, land surveys for UAE's Hail and Ghasha developments

Fugro has commenced a program of geophysical and geotechnical surveys for Artelia, Abu Dhabi as part of the Hail and Ghasha development, a landmark project by the Abu Dhabi National Oil Company (ADNOC). ...»

Aramco CEO says ready for IPO as listing venues up in air

Saudi Arabian Oil Co. is ready for its initial public offering in the second half, with the government yet to decide where to list the shares, CEO Amin Nasser said. ...»

Deep Sea Mooring commences mooring operations on NCS

Deep Sea Mooring (DSM), a Vryhof company, has commenced operations with the newly awarded contract to provide pre-lay mooring products and services to the Deepsea Bergen semisubmersible drilling rig on the Norwegian Continental Shelf. ...»

Crude pares losses on record withdrawal at biggest storage site

Crude pared losses after U.S. government data showed inventories at the nation’s largest pipeline hub dropped by the most on record. ...»

Keystone XL pipeline gets enough shipper pledges to proceed

TransCanada Corp. has enough customer interest to go forward with the Keystone XL oil pipeline, if the company decides to build it. ...»

Husky falls as close call with iceberg suspends operations

Husky Energy Inc. tumbled the most in two years after the Canadian energy company suspended operations on its SeaRose offshore vessel in the Atlantic, after receiving a reprimand for a close call with an iceberg. ...»

Tullow Oil, Eco Atlantic enter Phase Two for Orinduik Block, offshore Guyana

Eco (Atlantic) Oil and Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announces that at the Company and Tullow Oil (together “the Partners”) on the Orinduik Block, have elected to enter Phase Two of the Initial Period under the Petroleum Agreement and Prospecting License, Orinduik Block, offshore Guyana. ...»

Tullow Oil, Eco Atlantic enter Phase Two for Orinduik Block, offshore Guyana

Eco (Atlantic) Oil and Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, announces that at the Company and Tullow Oil (together “the Partners”) on the Orinduik Block, have elected to enter Phase Two of the Initial Period under the Petroleum Agreement and Prospecting License, Orinduik Block, offshore Guyana. ...»

Nigeria's Shoreline in $530-million deal to boost oil output

Shoreline Group, a Nigerian oil producer, plans to almost double its crude output after agreeing a $530-million finance deal with Vitol Group and local lenders. ...»

An oil giant shrinks in Asia as dirty skies turn cash toward gas

China’s crude oil production will likely extend it’s slide into a third year as state-run giants focus on pumping natural gas to meet President Xi Jinping’s drive to use more of the cleaner-burning fuel. ...»

Ziyen Inc. expands in U.S. with second, third oil leases

Scottish-American software and energy company Ziyen Inc., which has operations in Aberdeen and Inverness, has announced it has secured a further two major oil contracts in the Illinois basin. ...»

OPEC-Russia deal faces a new danger: Too much winning

When OPEC and Russia meet this weekend to review their strategy for clearing a global oil glut, they’ll face an unusual problem: it could be working just a bit too well. ...»

Oil's sustained rise giving oilfield servicers time to prosper

Oilfield-service providers are eyeing a rebirth with higher crude prices sowing the seeds for a prolonged period of growth. ...»

RRC Chairman Craddick: When it comes to NAFTA, mend it—don't end it

Many Texans support NAFTA based on the premise that it allows American workers and businesses to compete on a level playing field with anyone in the world. ...»

Lundin awarded 14 licenses in Norwegian licensing round

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has been awarded a total of 14 exploration license interests in the 2017 Norwegian licensing round (Awards in Predefined Areas, APA). ...»

Faroe Petroleum awarded eight exploration licences in Norway

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce that it has been awarded eight new prospective exploration licences, including four operatorships, in the Norwegian North Sea under the 2017 Norwegian APA (Awards in Pre-defined Areas) Licence Round. ...»

Talos Energy reports initial production from Tornado II

Talos Energy LLC has announced initial production from the Tornado II deepwater well (GC 281 #2ST), located in Phoenix field of the Green Canyon area of the Gulf of Mexico in approximately 2,700 ft of water. ...»

Statoil awarded new production licences on NCS

In connection with the Award in Predefined Areas (APA) for 2017 Statoil has been offered interests in 31 exploration licences on the Norwegian continental shelf (NCS), 17 of these as operator, and 14 as a partner. ...»

Mozambique's gas-rich north faces specter of further attacks

Sporadic attacks by gunmen in northern Mozambique will probably continue although they’re unlikely to hurt investment in the region’s sizable gas resources, Control Risks Ltd. said, after seven people were killed in raids in the past week. ...»

API President and CEO Jack Gerard to depart in August

After 10 years running one of Washington’s most influential associations covering all aspects of the oil and natural gas sector, API President and CEO Jack Gerard announced he will not make another long-term commitment to API and will step down when his current contract ends in August 2018. ...»

Subsea Expo to explore overseas opportunities for UK companies

With UK subsea exports valued at almost £4 billion, Subsea UK is encouraging British firms to target international expansion to sustain long term growth. ...»

Archer secures contract for Apache's Forties, Beryl fields

Archer Limited announces that effective from Jan. 1, 2018, Apache have awarded a new three-year contract to Archer for the provision of Platform Drilling Management Services which include operations and maintenance on their Forties and Beryl fields. ...»

Kuwait says exit from oil cuts not on table as prices rise

OPEC and other global oil producers including Russia won’t be discussing how to end output cuts when they meet this weekend in Oman even as crude prices have recently been rising, Kuwait’s oil minister said. ...»

Oil extends slide on speculation hedge-fund buying went too far

Oil continued to slide from a three-year high on speculation that a record long position built up by money managers leaves prices vulnerable to a pullback. ...»

Flow of unwanted oil from China is set to turn into a deluge

The pace at which China exports the fuel it doesn’t want is set to jump by more than four times in 2018, according to the nation’s biggest energy producer. ...»

Trump's offshore oil plan will struggle to lure rigs from Guyana

The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude. ...»

Maersk wins contract with Quadrant Energy for two Starfish new-builds

Commencing March 2018, Maersk Master and Maersk Mariner, Maersk Supply Service’s two first Starfish-class anchor handling vessels built in 2017, will be on contract with Quadrant Energy in Western Australia. ...»

Hess, targeted by Elliott, to cut 300 jobs to trim costs

Hess Corp., the oil producer targeted by hedge fund Elliott Management Corp., plans to shed about 300 jobs in 2018 as it seeks to cut costs by $150 million a year. ...»

TGS announces three new onshore seismic projects in North America

TGS announces three new onshore seismic projects; Sanderson, West Hackberry and Dawson in prolific North American basins. ...»

DNO receives 10 awards in Norway's APA licensing round

DNO ASA, the Norwegian oil and gas operator, today announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 10 exploration licenses under Norway's Awards in Predefined Areas (APA) 2017 licensing round. ...»

Energy Web Atlas releases new features for real-time LNG intelligence service

Gulf Publishing Company has announced several enhancements to the Energy Web Atlas (EWA) applications. The ESRI-based geographic information system (GIS) platform allows users to examine real-time project information, export and manipulate data, and serves as a comprehensive source of actionable project intelligence. ...»

LMKR launches subscription program for instant access to latest software

LMKR announced the launch of the GVERSE GO, a pay per use subscription program that allows instant access to LMKR's software while paying only for what you use. ...»

ExxonMobil, MagnaBond to collaborate on new well integrity evaluation technologies

ExxonMobil Upstream Research Company announced today that it has signed a three-year joint development agreement with MagnaBond, LLC, to develop new technologies that could enhance cost-effective evaluation of well cementing, casing and tubing. ...»

RPSEA releases Oil and Gas Technology Roadmap

RPSEA has released its Technology Roadmap, a plan that outlines the challenges and research needs of the U.S. onshore and offshore oil and gas industry for the coming decade. ...»

Oil slips from three-year high as market seen vulnerable to pullback

Oil slipped from a three-year high amid speculation that a surge in hedge-fund buying had pushed prices up too quickly. ...»

What's ahead for western Europe's biggest oil nation

After suffering through the worst crisis in a generation, Norway’s oil industry is now back on its feet. ...»

India pitches bigger oil resource pie in bid to lure investments

India has increased the size of its oil and natural gas resources by 50% because of better data, according to the country’s oil regulator. ...»

Fluor secures contract for Shell Penguins offshore UK project

Fluor Corporation announced today that the company was awarded a contract by Shell for the engineering, procurement and fabrication of Shell’s Penguins floating production storage and offloading (FPSO) vessel in the North Sea. ...»

United Oil and Gas announces farm-in to southern UK licences

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 Corallian Energy Limited (Corallian) interests in its southern UK oil and gas assets. ...»

BP's $60-billion GOM spill tab rises as lawsuits wind down

BP raised the amount it will pay this year for the Deepwater Horizon accident as thousands of lawsuits related to the biggest oil spill in U.S. history start to wind down. ...»

ExxonMobil encounters hydrocarbons onshore Papua New Guinea

ExxonMobil today announced that it encountered hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea. ...»

ONGC confirms six dead, one missing after chopper crash

Following an extensive search operation, jointly conducted by ONGC, Coast Guard and Indian Navy, six bodies including one of the two Pilots of ill-fated Pawan Hans Chopper have so far been recovered. The search is on for one more person who is still missing. ...»

Oil trades near three-year high as OPEC members reassure on cuts

Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers for OPEC-led output cuts to continue, despite recent price gains. ...»

SDX Energy spuds fifth development well on Sebou permit in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, has spud its ONZ-7 development well on the Sebou permit in Morocco. ...»

Morocco to tender for $4.6-billion natural gas project

Morocco, which depends on imports for almost all of its energy needs, will soon tender for companies to build a $4.6-billion natural gas project, Energy Minister Aziz Rabbah said. ...»

As crude rallies, Husky may emerge as top oil-sands stock pick

Husky Energy Inc., the best oil-sands stock last year, may emerge as a top pick for investors who are looking to capitalize on surging crude prices and already have shares of the largest Canadian producers. ...»

Petrobras, Total complete transfer of rights in Lapa and Iara concessions

Petrobras and Total announce that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017. ...»

Shell announces redevelopment of Penguins field in UK North Sea

Royal Dutch Shell plc (Shell) has announced a final investment decision on the redevelopment of the Penguins oil and gas field in the UK North Sea. ...»

Record betting on oil's rally begs question: How far can it go?

Another week of rising oil price and another record for money manager bets on gains. But can it last? ...»

Iraq joins UAE in calling to keep cuts despite oil gains

Iraq joined the United Arab Emirates, Qatar and Oman in calling for OPEC and allied producers to stick with their agreement to cut oil output until the end of the year, despite recent price gains. ...»

Fracers arise from oil-price rout on a course to dominate 2018

Less than two weeks in, 2018 is shaping up to be the year of the fracer. ...»

All 32 people aboard burning oil tanker presumed dead, Iran says

All 32 crew members on board an Iranian oil tanker that’s been burning for a week near China’s eastern coast are presumed dead, an Iranian official said. ...»

Crude's rally falters as run-up to $70 just doesn't stick

Oil remained on shaky ground as a bullish run-up in prices appears to have risk of deflating. ...»

Investors raise bets on surging commodities as oil tops $70

Investors are betting there’s more to come from commodities after a surge in industrial metals and oil prices. ...»

Energy companies seek clarity on offshore drilling in the Sunshine State

Interior Secretary Ryan Zinke has declared he is "taking Florida off the table" for new offshore oil drilling, but that concession leaves plenty of opportunities for rigs around the Sunshine State. ...»

Oil tycoon T. Boone Pickens closes main hedge fund

Legendary oil tycoon T. Boone Pickens is closing his hedge fund, saying trading oil has lost its luster. ...»

NOV's Tektonic drill bits increase ROP, durability with Permian Series cutters

Difficult drilling conditions in the Permian basin demand a drill-bit philosophy geared toward efficiency and durability. Three record runs recently occurred in the Permian basin that showcased the performance of National Oilwell Varco's Tektonic bits with Permian Series cutters. ...»

President Energy announces workover success at Puesto Flores field, Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina is pleased to announce successful results from its third and fourth workover wells at Puesto Flores field, Rio Negro Province, Argentina (President 90% and Operator: Ediphsa 10%). ...»

Crude’s path to $70 defied pressures that still threaten prices

Oil’s rise to $70/bbl for the first time in three years had clear triggers as supplies tighten and demand climbs. ...»

Hope wanes for “elephant” oil discoveries in Norway's Arctic

After a disappointing year for drillers, Norwegian authorities are reviewing their hopes for the Nordic country’s hottest exploration area. ...»

Simmons Edeco recognized for international growth

Simmons Edeco, a leading supplier of wellhead and valve maintenance, asset integrity solutions and onshore drilling services to the global oil and gas industry, announced that it has received the Great International Growth Award 2017 at the tenth annual Spirit of Enterprise Awards in Great Yarmouth, England. ...»

Polarcus awarded 3D marine seismic project in South America

Polarcus Limited has announced that the company has received a letter of award for the acquisition of a 3D marine seismic project in South America. ...»

ADES extends three major contracts in Gulf of Suez

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 successfully extended two existing contracts for Admarine II, Admarine IV and renewed its lease for Admarine VI, all of which are in the Gulf of Suez area. ...»

Petro Matad provides update on Mongolian 3D seismic program

MONGOLOIA -- Petro Matad, the AIM-quoted Mongolian oil explorer is pleased to provide an update on its 3D seismic acquisition program. ...»

Gas Plus Khalakan provides update on Shewashan operations in Iraq

Gas Plus Khalakan, the operator of the Shewashan oil field in the Kurdistan Region of Iraq, is pleased to provide an end 2017 update on the operations and activity that has occurred on the Shewashan oil field. ...»

Wentworth Resources provides operational update on Tanzania, Mozambique

Wentworth, the Oslo Stock Exchange and AIM-listed independent, East Africa-focused oil and gas company, is today providing an update to shareholders. ...»

BNK Petroleum spuds well in Oklahoma's Tishomingo field

BNK Petroleum Inc. has announced that the Company has begun drilling the Glenn 16-2H well in Tishomingo field with Power Rig #7. ...»

Oil reaches $70/bbl for first time in three years

Oil topped $70/bbl in London for the first time in three years as production cuts by OPEC and rising demand whittle away a global surplus. ...»

Stone Energy reports successful drilling results from Mt. Providence well

Stone Energy Corporation has announced drilling success at the deepwater Mt. Providence development well at Mississippi Canyon Block 28. ...»

Beach Energy discovers new gas field in Australia's Otway basin

Beach Energy Ltd. has announced a new gas field discovery at Haselgrove-3 ST1 in the onshore Otway basin, in South Australia. Flow test results from the primary target Sawpit Sandstone indicate a high deliverability reservoir and provide encouragement to move towards commercialization of a large gas resource. ...»

America’s gas stockpiles drop most on record after polar blast

The “bomb cyclone” that left the eastern U.S. shivering last week led to the biggest drop ever recorded for natural gas stockpiles. ...»

NOIA encourages member companies to submit nominations for the Safety in Seas Awards

NOIA member companies are encouraged to participate in honoring our industry’s commitment to offshore safety by entering the 2018 Safety in Seas Awards Competition. ...»

EIA forecasts flat crude oil prices, increasing global production through 2019

EIA’s January Short-Term Energy Outlook forecasts Brent crude oil to average $60/bbl in 2018 and $61/bbl in 2019, slightly higher than the $54/bbl average in 2017. In both 2018 and 2019, EIA expects total global crude oil production to be slightly greater than global consumption, with U.S. crude oil production increasing more than any other country. ...»

Falkland oil project eyes green light this year as prices rise

An oil project off the tip of South America is on track to get the go-ahead by the end of this year as the companies involved in the development work to secure $1.5 billion in financing. ...»

U.S. becomes a net gas exporter for the first time in 60 years

America’s trade imbalance just got a bit smaller. The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957. ...»

Iran awaits Trump verdict on oil sanctions deal

World oil markets are about to get a clearer idea of what Donald Trump’s presidency means for one of the biggest crude exporters, Iran. ...»

Kazakhstan overtakes Iraq as OPEC pact's biggest over-producer

Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output. ...»

ADES extends three major contracts in the Gulf of Suez

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 successfully extended two existing contracts for Admarine II, Admarine IV and renewed its lease for Admarine VI, all of which are in the Gulf of Suez area. ...»

Wentworth Resources provides update on East African operations

Wentworth, an East Africa-focused oil and gas company, has provided the following update to shareholders. ...»

Petro Matad completes 3D survey in Mongolia's Tugrug basin

Further to the Company’s announcement on Oct. 4, 2017, Petro Matad, the AIM quoted Mongolian oil explorer has provided an update on its 3D seismic acquisition program. ...»

UAE says OPEC is committed to supply cuts through 2018

OPEC will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates Energy Minister Suhail Al Mazrouei said Thursday. ...»

Rig-count chaos: shale drillers are confusing U.S. oil analysts

Call it a rig-less recovery. ...»

Gazprom Neft drills first-ever multi-lateral well in Russia

Gazprom Neft subsidiary Gazpromneft-Yamal has completed construction of Russia’s first ever multi-lateral well with four horizontal cased-hole side tracks, at its Novoportovskoye field. ...»

TWMA secures three-year contract with Total

TWMA, provider of specialized drilling waste management services, has been awarded a three-year contract with Total to provide drilling waste management services in the UKCS. ...»

Oil rises from three-year high as U.S. stockpiles seen plunging

Oil extended gains from the highest close in more than three years as U.S. industry data signaled crude stockpiles dropped an eighth week. ...»

OPEC will try to talk prices down if oil tops $70, Goldman says

OPEC would try to talk down an oil rally above $70/bbl to cushion the impact on the global economy and rival supplies, according to Goldman Sachs Group Inc. ...»

Trump pulls Florida from offshore drilling plan after objections

The Trump administration is ruling out plans to sell new drilling rights off the coast of Florida, including eastern Gulf of Mexico waters coveted by oil companies, amid pressure from Republican Governor Rick Scott. ...»

Otto Energy spuds development well on the Gulf of Mexico's South Marsh Island lease

Otto Energy Limited has advised that the OCS G-34266 #F-3 well (SM 71 F3), operated on behalf of the joint venture by Byron Energy Ltd. within the South Marsh Island 71 (SM 71) lease in the Gulf of Mexico shelf, is currently, at 3 p.m. on Tues., Jan. 9, 2018, CST, drilling ahead at 668 ft MD. ...»

Lundin reports dry well at Hurri prospect in the Barents Sea

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling of the Hurri exploration well 7219/12-3S located in PL533 in the southern Barents Sea. The well was dry. ...»

Lundin reports dry well at Hurri prospect in the Barents Sea

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed the drilling of the Hurri exploration well 7219/12-3S located in PL533 in the southern Barents Sea. The well was dry. ...»

Halliburton provides major software grant to Sultan Qaboos University

Halliburton has announced a multi-million dollar software grant to the Colleges of Science and Engineering at Sultan Qaboos University in Oman. The grant provides access to leading industry software in geoscience, drilling and reservoir management so that students can gain practical experience to prepare for successful careers in the oil and gas industry. ...»

Oil spending may stir investor merger push

Ben Dell doesn’t just want to change how oilfield executives are paid. He thinks there could be a lot fewer of them around. ...»

Citi says Trump to loom large as war and shocks spur $80 oil

This year may be anything but staid for the oil market as Citigroup predicts wildcards including war, Middle East tensions, Donald Trump and Kim Jong Un driving crude toward $80/bbl. ...»

Oil jumps as industry data shows U.S. crude stock monster draw

Oil popped in after-hours trading as an industry report showed the biggest draw in U.S. crude stockpiles for this time of year since 1999. ...»

“Drunken sailor” oil spending may stir investor merger push

Ben Dell doesn’t just want to change how oilfield executives are paid. He thinks there could be a lot fewer of them around. ...»

U.S. crude output on track to rival giants Russia, Saudi Arabia

The U.S. may challenge Saudi Arabia and Russia in the next two years in the race to become the world’s largest oil producer. ...»

API's Jack Gerard delivers 2018 State of American Energy speech

API's president and CEO Jack Gerard delivered a speech at today's 2018 State of American Energy event. ...»

Ineos Shale challenges Scottish government's oil, gas extraction ban

Ineos Shale has announced that, with its co-venture partner Reach, it has lodged a petition for judicial review of the recent decision by the Scottish Government to “effectively ban” onshore unconventional oil and gas extraction in Scotland by introducing a new planning policy of "no support." ...»

NPD reports successful seismic acquisition on Gardarbank High

During the autumn of 2017, the Norwegian Petroleum Directorate (NPD) has acquired about 4,500 km of 2D seismic on the Gardarbank High, east/northeast of Bjørnøya and south of Hopen. ...»

Wood delivers subsea contract for Celtic Interconnector project

Wood is providing EirGrid Group, Ireland’s state-owned transmission system operator and France’s counterpart Réseau de Transport d’Electricité (RTE), with subsea engineering services to the Celtic Interconnector project. ...»

C-Innovation forms subsea projects group to offer fully integrated subsea solutions

C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, has formed a turnkey subsea projects group. ...»

OPEC's oil cuts claim a victim as supertanker earnings crash

OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents. ...»

Kreuz Subsea wins major contract in India

Kreuz Subsea, a leading global integrated subsea services business, has announced it has been awarded its most financially significant contract in the company’s history. ...»

ADNOC awards FEED contracts for offshore gas mega project

The Abu Dhabi National Oil Company (ADNOC) has awarded the two Front End Engineering Design (FEED) contracts for ADNOC’s planned offshore ultra-sour gas mega project, which consists of Hail, Ghasha and Dalma fields. ...»

Anadarko discussing Mozambique LNG supply with Chinese buyers

Anadarko Petroleum is in talks to sate China’s increasing appetite for liquefied natural gas from its planned development in Mozambique. ...»

Iran says OPEC doesn't like oil over $60 as it nears $70

A key OPEC minister has warned that the group risks overheating the oil market as crude prices head toward $70/bbl. ...»

IPAA responds to FERC ruling that rejects plan to aid coal, nuclear power

IPAA has responded to today's FERC decision to reject Secretary of Energy Rick Perry's plan to prop up coal and nuclear power. ...»

Uruguay announces promotional activities for Round 3 bidding

After successful announcements in Houston and London of Uruguay Round 3, for which 17 offshore areas for exploration and production of hydrocarbons are being offered, the process of qualification of oil companies has already started. ...»

Magnolia Petroleum participates in three SandRidge Energy-operated wells in Oklahoma (1)

Magnolia Petroleum plc, the AIM-quoted U.S. focused oil and gas exploration and production company, is pleased to announce that it has received notice from SandRidge Energy, the operator of the Gilchrist 2016 1-36H well (‘Gilchrist’) in Oklahoma, that three additional increased density wells are to be drilled on the same spacing unit to maximise the recovery of reserves. ...»

Magnolia Petroleum participates in three SandRidge Energy-operated wells in Oklahoma

Magnolia Petroleum plc, the AIM quoted US focused oil and gas exploration and production company, is pleased to announce that it has received notice from SandRidge Energy, the operator of the Gilchrist 2016 1-36H well (Gilchrist) in Oklahoma, that three additional increased density wells are to be drilled on the same spacing unit to maximize the recovery of reserves. ...»

UTEC secures major survey contract in Australia

UTEC, a global survey company in subsea services group Acteon, has been awarded a contract by Technip Oceania Pty Ltd, part of TechnipFMC in Australia, to provide survey and positioning services on the Greater Enfield Project, offshore Western Australia. ...»

Subsea NE appoints new regional chairman

The regional advocacy group for the North-east of England’s subsea sector has appointed Bruce Heppenstall as its new chairman. ...»

Iraq wants Kurdish Kar Group to halt oil operations in Kirkuk

Iraq’s parliament wants the Kurdish Kar Group to halt work at its oil operations in the disputed northern region of Kirkuk, which the central government reclaimed from the OPEC country’s semi-autonomous Kurdish authorities in October. ...»

Petrofac secures rotating equipment contract with Chrysaor

Petrofac has been awarded a Rotating Equipment Management Services contract in support of Chrysaor’s operations in the UKCS. ...»

Recharged shale boom still faces shortage of frac services

A recharged U.S. shale boom will grow in 2018, with diversified companies such as Concho Resources and Devon Energy gaining an edge in overcoming a lack of completion crews for drillers. ...»

Endress+Hauser forms alliance to provide digital oilfield technology

Endress+Hauser is pleased to announce the alignment of partnerships with Angus Measurement Services, TechnipFMC and its authorized service provider, Vector Controls. ...»

U.S. takes gas from UK site that got first Siberian cargo

Not many people had expected the U.S. to turn to Europe for natural gas this winter. ...»

Oil steadies above $61 following pullback in U.S. drilling

Oil rose after drilling activity in the U.S. eased, adding to signs the global crude surplus is abating. ...»

Iranian tanker at risk of sinking as buyer seeks other supply

Hanwha Total Petrochemical Co. bought alternative supply after a fire on board an Iranian oil tanker that was destined for the South Korean company. ...»

Majors find hurdles buried in Trump's “America-First” tax plan

For the majors, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas. ...»

API: New offshore energy plan will strengthen U.S. energy security

API welcomed the Interior Department’s new proposal for a five-year offshore oil and natural gas leasing plan to allow greater access to energy resources in the U.S. Outer Continental Shelf, putting the U.S. on the right track towards increased energy production, economic growth, and job creation. ...»

ExxonMobil announces sixth oil discovery offshore Guyana

ExxonMobil Corporation has announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. ...»

Wood Mac: Five things to look for in 2018

Looking back, 2017 was the year when a glint of optimism returned to the upstream oil and gas industry. Will we see companies grow in confidence in 2018? With oil prices upwards of $60/bbl, investment stabilizing, and new project sanctions on the rise, we think so. ...»

Cabot Energy reports Canadian sidetrack well results

Cabot Energy, the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, provides the provisional results from the drilling and flow test of the 10-32 sidetrack well in the Rainbow area in Canada, which was drilled in December 2017. ...»

Four ways the OPEC deal could end early

OPEC and Russia have surprised the industry with the success of their grand alliance as oil surges to a three-year high. ...»

Saudi Aramco cuts oil pricing to U.S. amid record-low supply

Saudi Arabia cut February pricing for most of its crude sales to the U.S. for a second month even as the world’s largest oil exporter ships record-low volumes to American buyers in an effort to help trim a global glut. ...»

Oil eases from three-year high after climbing on supplies

Oil retreated from its highest closing price in three years as some of the gains driven by a plunge in U.S. crude stockpiles melted away. ...»

Natural gas in U.S. soars 60-fold amid icy squeeze in Northeast

Natural gas surged to 60 times the going rate as howling blizzard conditions stoked demand for the furnace fuel across the U.S. Northeast. ...»

Bromance to break-up: four ways the OPEC deal could end early

OPEC and Russia have surprised the industry with the success of their grand alliance as oil surges to a three-year high. ...»

SDX Energy provides update on drilling operations in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, is today providing an update on its operations in Morocco. ...»

PRT Offshore commissions In-line Compensator in Gulf of Mexico

PRT Offshore’s innovative In-line Compensator (ILC) has been successfully deployed and operated from a deepwater drillship in 3,500 ft of water in the Gulf of Mexico. ...»

Trump seen urging all U.S. coastal waters be opened to drilling

The Trump administration is proposing to open almost all U.S. coastal waters to oil drilling, including those off California and Florida. ...»

North Korea sneaking in oil with secret ship transfers

Donald Trump’s desire to squeeze Kim Jong Un’s regime risks being undermined by the furtive maneuvers of oil tankers at sea. ...»

Forties oil pipeline crack now under investigation

The UK Health and Safety Executive is investigating the causes of a crack in a key North Sea oil pipeline that disrupted production at more than 80 fields for weeks. ...»

Norway beats back lawsuit seeking to curb Arctic oil drilling

Norway beat back an unprecedented lawsuit by environmental groups that sought to curb oil drilling in the country’s Arctic waters. ...»

Statoil joins Aker BP, Lundin and NOV in subsea JIP

Statoil is the latest addition to a Joint Industry Project (JIP) attempting to revolutionize subsea boosting pumps. ...»

The PSA issues notice of order following investigation of Tambar incident

The PSA’s investigation of the fatal accident of Dec. 7, 2017 on Maersk Interceptor has identified serious shortcomings in systems and processes for materials handling. Maersk Drilling Norge has accordingly been given notice of an order. ...»

Wave of LNG projects set to begin, even as projected glut looms

The liquefied natural gas industry needs to start planning for shortages even as analysts project a glut starting next year, according to Sanford C. Bernstein and Co. ...»

North Korea keeps sneaking in oil with secret ship transfers

Donald Trump’s desire to squeeze Kim Jong Un’s regime risks being undermined by the furtive maneuvers of oil tankers at sea. ...»

Saudi Aramco said to seek adviser for global gas deals

Saudi Arabian Oil Co. is seeking to hire a bank to advise on plans to buy natural gas assets, according to people familiar with the matter, ahead of what could be the world’s biggest share sale. ...»

Oil rises from 3-year high after best start to year since 2012

Oil climbed from the highest in three years as optimism on the global economy, cold weather and political unrest bolstered a market that’s finally shaking off a prolonged surplus. ...»

Key oil market indicator shows market tightest in three years

One of the key gauges of oil market strength hasn’t looked this good for bulls since 2014. ...»

Hamriyah Free Zone Authority partners with Gulf Publishing Company

To further promote the petrochemical, oil and gas sector of the Hamriyah Free Zone, the Hamriyah Free Zone Authority (HFZA) has signed a strategic partnership with Gulf Publishing Company (GPC), the world’s largest independent media company devoted exclusively to the global energy industry for more than 100 years. ...»

OPEC holds production steady as compliance exceeds promised cuts

OPEC’s crude production held steady in December as the group approached a fresh year of output curbs in full compliance with its supply deal. ...»

Oil surges past shale-drilling tipping point as glut shrinks

Oil climbed above $61/bbl for the first time in two and a half years, surpassing a crucial threshold for spurring new shale drilling. ...»

NOIA comments on revisions to offshore production safety systems rule

National Ocean Industries Association (NOIA) President Randall Luthi issued a statement on revisions to the Production Safety Systems Rule. ...»

EIA: Crude oil prices increased, Brent-WTI spread widened in 2017

Crude oil prices ended 2017 at $60/bbl, the highest end-of-year price since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/bbl in 2017, up $7/bbl from the 2016 average, and ended the year $6/bbl higher than at the end of 2016. Brent prices have moved up $10/bbl since the end of 2016 and ended the year at $65/bbl, widening the Brent-WTI spread to $5/bbl at the end of the year, the largest difference since 2013. ...»

Maersk Drilling announces four-year contract with Tullow Ghana

Maersk Drilling has been awarded a four year contract for the deepwater drillship Maersk Venturer by Tullow Ghana Ltd. ...»

Tiger Rentals acquires Production Management Industries

Tiger Rentals Group, LLC, a global oilfield and industrial equipment rental and services company, has completed the acquisition of the equity of Production Management Industries (PMI) from Superior Energy Services. ...»

Andeavor enhances its Permian position through acquisition of Rangeland Energy II

Andeavor has announced that it has agreed to acquire 100% of the equity of Rangeland Energy II, LLC. Rangeland owns and operates assets in the Delaware and Midland basins, including a recently-constructed crude oil pipeline, three crude oil storage terminals and a frac sand storage and truck loading facility. ...»

Oil rises to two-year high on U.S. stockpiles, Iran unrest

Oil climbed to the highest level in more than two years on estimates that U.S. crude stockpiles fell for a seventh week, while unrest continued in OPEC’s third-biggest producer. ...»

U.S. gas market faces long-awaited test as cold spurs demand

A polar blast across the eastern U.S. is proving to be a crucial test for the nation’s natural gas market: Can record demand spurred by the cold outweigh surging production from America’s shale basins, sparking a sustained rally? ...»

Pipeline fire causes Nigeria to lose almost half its power output

A fire at a Nigerian pipeline interrupted gas supplies to companies generating more than 3,000 MW in Africa’s most populous nation, the government said. ...»

Russia-China oil friendship makes crude costlier for Europe

Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market. ...»

Oil's famous five: People who could define the market in 2018

After ending 2017 at a two-year high, oil prices could go either way this year, and these five individuals could play defining roles. ...»

For oil investors, this may be as good as it gets in 2018

The new year’s $60-plus crude prices may be as good as it gets for oil traders if Moody’s Investors Service has it right. ...»

White House threatens new Iran sanctions as arrests continue

The Trump administration threatened new sanctions on Iran as the number of civilians arrested in spontaneous nationwide protests that began last week neared 1,000. ...»

International Petroleum Corp. provides update of Canadian acquisition, Malaysia operations

International Petroleum Corp. has provided corporate updates on the previously announced acquisition in Canada and on activities in Malaysia. ...»

Premier Oil reports first oil from Catcher Area

Premier Oil has announced that first oil from the Catcher Area was safely achieved at 15.45 hours on Dec. 23, 2017. ...»

Premier Oil reports first oil at Catcher field

Premier Oil has announced that first oil from the Catcher Area was safely achieved at 15.45 hours on Dec. 23, 2017. ...»

Otto Energy announces well completion, drilling plans

Otto Energy Limited has advised that the OCS G-34266 #F-2 well (SM 71 F2), operated on behalf of the joint venture by Byron Energy Ltd. within the South Marsh Island 71 (SM 71) lease in the Gulf Of Mexico shelf, will be completed for near term production in the B65 sand. ...»

Oil steadies above $60 as protests spread in OPEC producer Iran

Oil steadied after a second annual increase, supported by concern that protests in Iran could lead to a supply disruption in OPEC’s third-biggest member. ...»

Russia natural gas output jumps to record in expansion drive

Russia’s natural gas production rose to its highest ever last year, driven by increasing sales to Europe and rising domestic demand. ...»

Oil majors' exit leaves Norway tending to its own petroleum future

Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries. ...»

Russia tightens oil grip in top market as China opens second pipeline

A second Sino-Russian oil pipeline began operations on New Year’s Day, doubling China’s capacity to import crude from the East Siberia-Pacific Ocean system. ...»

A guide to Mideast markets in 2018

For as long as Gulf economies rely on oil, crude will be a factor in determining how investors trade regional markets. But right now, politics is king. ...»

EIA releases natural gas data through October 2017

The December Natural Gas Monthly, with data through October 2017, has been released. ...»

Hardbanding Solutions extends the life of work string tubing

Hardbanding Solutions by Postle Industries has developed a remarkable patent-pending product and effective procedure to restore work string tubulars that have worn below the minimum allowable connection diameter. ...»