Study shows use of digital twins in well construction, drilling operations

eDrilling, a leading provider of drilling and well performance solutions, has announced the results of a study researching the value of using digital twins in well construction and drilling operations. ...»

Santos announces final investment decision on Arcadia project in Australia

Santos and its GLNG Partners will invest more than A$400 million in the 137-well Arcadia gas project in the Bowen basin, in Queensland’s Central Highlands region. ...»

Brazilian presalt continues to deliver high productivity performance, says GlobalData

Presently, ultra-deepwater Brazilian presalt prevails by delivering high productivity performance assurance to the industry expectations and to the government advantage, according to GlobalData, a leading data and analytics company. ...»

Shell announces start of production at first phase of Kaikias in the Gulf of Mexico

Shell Offshore, Inc. (Shell), a subsidiary of Royal Dutch Shell plc, has announced the early start of production at the first phase of Kaikias, an economically resilient, subsea development in the US. Gulf of Mexico. ...»

Aqualis Offshore completes jacket installation in Bahrain

Marine and offshore engineering consultancy Aqualis Offshore has completed the offshore installation engineering of an 1800T steel jacket structure offshore Bahrain as part of the Bahrain LNG Import Terminal. ...»

Aker BP awards Valhall Flank West contract to PG Flow Solutions

Aker BP, on behalf of the Wellhead Platform Alliance, has awarded PG Flow Solutions a contract to supply a number of pump systems to the Valhall Flank West wellhead platform. ...»

Oil slips as U.S. crude inventories show signs of increasing

Oil fell, compounding a monthly decline, after U.S. crude inventories were said to rise by more than expected. ...»

TechnipFMC awarded subsea contract for Liuhua fields, offshore China

TechnipFMC has been awarded a subsea contract by CNOOC Limited for the Liuhua 16-2, 20-2 and 21-2 Oilfield Joint Development Project in the South China Sea. ...»

Exxon says world needs more oil even as emission concern lingers

Exxon Mobil’s Darren Woods says his company is at the center of a delicate balancing act between those who want a cleaner environment and those seeking economic growth that depends on rising energy demand. ...»

Global oil benchmarks pulled apart in sign of market discord

Long-established relationships between the world’s most important oil prices are being strained by conflicting forces across the globe. ...»

Petronas takes 25% stake in Shell-led Canadian LNG project

Malaysia’s Petroliam Nasional agreed to take a 25% stake in a proposed liquefied natural gas project in Canada led by Royal Dutch Shell. ...»

EIA: Longer wells, higher productivity increase Utica gas output amid rig count fluctuation

In April 2018, natural gas production from the Utica formation, located primarily in Ohio, averaged 5.8 Bcfd, or about 7% of total U.S. dry natural gas production. ...»

EIA: Longer well lateral lengths, higher productivity increase Utica gas production even as rig count fluctuates

In April 2018, natural gas production from the Utica formation, located primarily in Ohio, averaged 5.8 Bcfd, or about 7% of total U.S. dry natural gas production. ...»

Kenya in talks on oil pipeline as output set to begin in 2021

Kenya’s government is negotiating with potential investors in a pipeline that will link oil fields in the north of the country to a port at Lamu, Petroleum Principal Secretary Andrew Kamau said. ...»

Aker BP strikes gas northwest of Hammerfest, in the Barents Sea

Aker BP ASA, operator of Production Licence 659, has concluded the drilling of wildcat well 7221/12-1. ...»

Equinor signs new agreements in Azerbaijan

Statoil Azerbaijan (part of the Equinor group) and Azerbaijan’s state oil company SOCAR have signed a Risk Service Agreement (RSA) related to the appraisal and development of Karabagh oilfield and a Production Sharing Agreement (PSA) for the Ashrafi, Dan Ulduzu, Aypara area. ...»

OPEC strife likely at June meeting, ex-Algeria minister says

Saudi Arabia and Russia have a difficult month ahead, according to Nordine Ait-Laoussine, president of Geneva-based consultant Nalcosa and former energy minister of Algeria. ...»

TEMS International lands its second global contract

Scottish oil and gas service company TEMS International has landed a global contract with an independent American oil and gas EandP company. ...»

Oman Oil said to seek buyers for stake in Khazzan gas field

Oman Oil Co. is planning to sell a 10% stake in a key natural gas field in the sultanate amid a review of the state-owned energy producer’s options for restructuring its business, according to people with knowledge of the matter. ...»

Trudeau's pipeline takeover is bittersweet win for oil sands

Canada’s purchase of Kinder Morgan’s embattled pipeline is good news for the oil patch, so long as it doesn’t become the norm. ...»

Gazprom profit jumps after gas shipments to Europe surge

Gazprom’s profit jumped to the highest in three years as natural gas sales to Europe surged. ...»

Shale's surge crashes into bottlenecks from pipelines to ports

The U.S. shale surge is crashing headlong into a barrage of bottlenecks. ...»

India vows to ignore Trump's sanctions and continue Iran imports

President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers -- and a strategic partner of the U.S. -- plans on ignoring them. ...»

Oilex issues default notice regarding India's Cambay

Oilex Ltd. has advised that it has issued an Event of Default Notice (EoD Notice) to GSPC regarding the Cambay PSC (Cambay) in the amount of equivalent $3,054,832. ...»

Saudi Aramco awards contract for unconventional resources project to Halliburton

Halliburton has announced the signing of the Unconventional Gas Stimulation Services contract with Saudi Aramco to further improve the economics of Saudi Aramco’s unconventional resources program. ...»

TGS, PGS announce new Nansen 3D multi-client project in Norway

TGS and Petroleum Geo-Services (PGS) announce a new multi-client project in the Barents Sea. The new Nansen 3D Geostreamer survey will cover ~6,100 km² in an active APA area of the Hammerfest basin. ...»

Petrofac secures project support, engineering services contract with Husky Oil in China

Petrofac’s Engineering and Production Services (EPS) East division has secured a project support and engineering services contract with Husky Oil China Ltd. (HOCL). The three-year contract is in support of HOCL’s Liuhua 29-1 gas field development project located offshore at the Pearl River Mouth basin. ...»

Gazprom Neft reports first-quarter net profit growth of 12% year-on-year

Gazprom Neft’s revenue in the first three months of 2018 grew by 14.5% year-on-year, to RUB 520.6 billion. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 32.3% year-on-year, to RUB 155.8 billion. ...»

Saudis, Kuwait, UAE are said to plan meeting on OPEC

Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss OPEC matters, about a week after the Saudis and Russia announced a new policy to revive oil production. ...»

Canada to buy Kinder's Trans Mountain pipeline for $3.5 billion

Canada will buy Kinder Morgan Canada Ltd.’s Trans Mountain oil pipeline and its controversial expansion project for C$4.5 billion ($3.5 billion) in a bid to ensure it gets built amid fierce opposition. ...»

Return to $100 oil is far from unlikely, Norway minister says

Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back. Now Norway’s changed its tune. ...»

Africa's hidden oil hub grows after traders make millions

For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of bbl of crude in the deep-water harbor north of Cape Town. ...»

Crude drops after Saudi-Russia output revival plan rattles traders

Oil headed for its longest run of losses since February after Saudi Arabia and Russia proposed raising production later this year. ...»

Saudi-Russia policy shift sets stage for tense OPEC meeting

When Saudi Arabia and Russia announced a new policy to revive oil production last week, one thing was missing: most of the other partners in their grand coalition. ...»

Oil's drop below $80 vindicates cautious investors trimming bets

Money managers’ reluctance to get behind the oil rally is finally paying off. ...»

OPEC, allies said to have reached goal of wiping out oil-stock surplus

OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their collective production cuts achieved a key goal of draining the surplus in global stockpiles. ...»

Equinor granted consent to extend life of Oseberg Øst facility

Equinor (formerly Statoil) has been granted consent for continued use of the Oseberg Øst facility until March 31, 2031. ...»

Equinor awards drilling contract for Fram, Askeladd licenses

Equinor (formerly Statoil) has awarded Odfjell a contract for drilling two times three production wells for the Fram and Askeladd licenses by using the Deepsea Atlantic rig. Odfjell has also been awarded a master framework agreement (MFA). ...»

Equinor invests in Fram field, nearly doubling remaining reserves

Equinor (formerly Statoil) and its partners make investments in Fram field that will almost double remaining reserves. ...»

Lukoil, Gazprom agree to jointly develop two fields in Nenets Autonomous District

President of PJSC "Lukoil" Vagit Alekperov and Chairman of the Management Committee of PJSC "Gazprom" Alexey Miller have signed an Agreement of Intent at the Saint-Petersburg International Economic Forum. ...»

Russia tightens grip on Europe's gas supply with Gazprom deal

Russia’s natural gas export monopoly is set to expand its position as the dominant fuel supplier to Europe after a deal between the two resolved a seven-year-old anti-trust dispute. ...»

Saudis signal oil output boost, offering relief to consumers

OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80/bbl, said Saudi Energy Minister Khalid Al-Falih. ...»

Total takes 10% stake in Russia's Arctic LNG 2 from Novatek

Total SA will take 10% stake in a multi-billion-dollar liquefied natural gas project in Russia’s frozen north from Novatek PJSC. ...»

World's top oil trader says no one will avoid Iran sanctions

The world’s top oil trader said it will be near impossible to avoid U.S. sanctions on Iran, suggesting Donald Trump’s attack on OPEC’s third-largest producer may have a bigger impact on the global crude market than many anticipate. ...»

OPEC-Russia said to weigh supply boost by ending excess cuts

OPEC, Russia and their allies are discussing a plan to boost production for the first time since 2016, responding to soaring prices that have made consumers anxious. ...»

Oil extends slide as Russia talks of easing OPEC supply curbs

Oil prices slid for a third day in New York after Russia signaled that phasing out historic supply curbs that eliminated a worldwide glut may be on the table. ...»

Peru repeals Tullow Oil laws signed as Kuczynski quit presidency

Peru’s President Martin Vizcarra repealed decrees permitting London-based Tullow Oil Plc to begin exploration at five offshore oil blocks, in a move criticized by the industry as creating uncertainty for investors. ...»

Democrats urge Trump to "stand up to OPEC" amid rising oil price

Senate Democrats are urging President Donald Trump to rein in OPEC with pump prices at a three-year high, and even send his energy secretary to the cartel’s June meeting to reinforce the message. ...»

China's CNOOC sees likely start of Uganda oil field in 2021

CNOOC Ltd., the Chinese oil company developing Uganda’s crude finds with Total SA and Tullow Oil Plc, said production at its Kingfisher field will probably start in 2021. ...»

Shell reports large, deepwater discovery in U.S. Gulf of Mexico

Shell Offshore, Inc. has announced a large, deepwater discovery in the Norphlet geologic play in the U.S. Gulf of Mexico with its Dover well (100% Shell). ...»

Zennor Petroleum offered five blocks in 30th UKCS license round

Zennor Petroleum Limited has announced that its wholly-owned subsidiaries, Zennor Pathway Limited and Zennor North Sea Limited, have been successful in the UK’s 30th offshore license round. Zennor participated in five applications in the round and has been offered five potential awards. ...»

United Oil and Gas awarded two blocks in the UK North Sea, including Crown Oil discovery

United Oil and Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce that it has been provisionally awarded, in the UK Continental Shelf (UKCS) 30th offshore license round, two highly prospective blocks in the Central North Sea, including the Crown Oil discovery, which could contain up to 16 MMbbl of recoverable oil. ...»

Faroe Petroleum awarded Edinburgh prospect in 30th UKCS license round

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 a new prospective exploration license under the 30th license round on the UK Continental Shelf (UKCS). ...»

Azinor Catalyst awarded two licenses in UK government’s 30th offshore licensing round

Azinor Catalyst Limited, the Seacrest Capital Group-backed EandP Company focused on the UK Continental Shelf, has announced that it has been awarded two licenses in the UK government’s 30th offshore licensing round. ...»

Saudi's $80 oil goal eating into Modi's budget before polls

India’s Prime Minister Narendra Modi has an oil problem. And it’s set to worsen with Saudi Arabia rooting for the commodity to push through the $80 barrier. ...»

Gas supply crunch thwarts EU's plan to kill off coal power

Europe wants its industry to burn more natural gas instead of coal to reduce global warming. The problem is, there isn’t enough gas at the right price. ...»

Exxon CEO's solution on shares: Drill big, drill better

Darren Woods is mounting a strong defense of his plan to rescue Exxon Mobil from its share-price slump with a multibillion dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. ...»

The $100/bbl oil wager comes back to the options market

Some options traders are betting on $100 oil again. ...»

API: Oil and gas industry highlights preparedness for upcoming hurricane season

Today, API along with PMAA, AGA, AFPM, INGAA and NOIA highlighted the steps that the natural gas and oil industry is taking to prepare its operations for the upcoming hurricane season and shared lessons learned and examples of the industry’s resilience from past hurricane seasons. ...»

Equinor awarded nine licenses in the UKCS 30th offshore licensing round

Equinor (formerly Statoil) has been awarded nine new licenses in the 30th offshore licensing round, eight as operator, as announced by the Oil and Gas Authority (OGA) today. ...»

Shale boom buyout king sees redemption after $2-billion meltdown

John Walker sees redemption ahead as oil prices rise and EnerVest gets its finances in order. ...»

Siccar Point secures strategic acreage position in 30th Licensing Round for UKCS

Siccar Point Energy has secured additional strategic acreage in the Oil and Gas Authority’s 30th Licensing Round for the UK Continental Shelf. ...»

Faroe Petroleum commits to Brasse East exploration well

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 the commitment by the PL740 Brasse Joint Venture partners (Faroe 50% and operator and Point Resources 50%) to drill the Brasse East exploration well and award the associated rig contract, with commencement of drilling operations expected in fourth-quarter 2018. ...»

Tiny Pacific island nation battles oil giant for LNG profits

The tiny, impoverished nation of Papua New Guinea came out on the short end of a $19-billion development with ExxonMobil Corp. to build one of Asia-Pacific’s biggest energy projects. But as the company pushes to expand the venture, the government is vowing that round two may require a much bigger payday for the locals. ...»

Exxon to cut natural gas flaring 25% by 2020 in emissions push

ExxonMobil Corp. plans to reduce the amount of natural gas it burns as waste by a quarter within two years to reduce climate-changing emissions, something long demanded by environmental groups and activist investors. ...»

Aqualis Offshore secures its first rig inspection deal in the Caspian

Aqualis Offshore has been awarded a one-year service agreement with Petronas Carigali (Turkmenistan) Sdn. Bhd, to conduct drilling rig integrity inspection services for its drilling programs. ...»

American oil boom seen tempting ships to steer clear of Iran

The latest standoff between the U.S. and Iran may be leaving oil-tanker owners in more of a bind than in previous years. ...»

Mexico drillers sign first farm-out deal without state oil giant

Two upstart Mexican drillers have signed the first farm-out deal in Mexico’s oil sector that doesn’t include state company PEMEX. ...»

Bibby Offshore secures multi-million North Sea contract

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has secured a two-phase multi-million pound contract with a leading oil and gas and production company. ...»

EIA: U.S. remains the world’s top producer of petroleum and natural gas hydrocarbons

The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. ...»

U.S. remains the world’s top producer of petroleum and natural gas hydrocarbons

The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. ...»

Kenya drops budget cap to reach oil-cash deal, lawmakers say

Kenya agreed to drop budget-allocation limits for oil-rich counties in order to break a deadlock in passing a revenue-sharing law that’s delayed production. ...»

Norway's $1-trillion wealth fund moves closer to oil exit

Norway’s $1-trillion sovereign wealth fund cleared a hurdle on its proposed path to exiting oil and gas stocks. ...»

Santos rejects $10.9-billion Harbour offer as too low, too risky

Santos Ltd. rejected Harbour Energy Ltd.’s $10.9-billion final offer and terminated talks, saying its proposal was too low and too risky. ...»

SDX Energy's Kelvin-1X well disappoints in Egypt

SDX Energy's Kelvin-1X well dissapoints in Egypt ...»

SDX Energy's Kelvin-1X well dissapoints in Egypt

SDX Energy's Kelvin-1X well dissapoints in Egypt ...»

Aker BP granted drilling permit for appraisal wells southeast of Alvheim field

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for well 25/4-12 S and well 25/4-12 A, cf. Section 15 of the Resource Management Regulations. ...»

Crude rises as Venezuela sanctions stoke crude supply risk concern

Crude extended its three-year high as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. ...»

Suez, Halvorsen TEC to supply seawater sulfate removal system for Johan Castberg project

...»

Kosmos Energy to re-spud Suriname wildcat

Kosmos Energy has provided an update on current activity in Suriname. ...»

API: Rule to grant relief from tariffs, quotas on steel must be improved

The American Petroleum Institute (API) has joined other trade associations in comments to the Department of Commerce on Section 232’s Interim Final Rule (IFR) to raise concerns over the ability of natural gas and oil companies to receive relief from steel tariffs and quotas. ...»

Harbour Energy sweetens Santos offer, bidding $10.9 billion

Harbour Energy Ltd. made a final sweetened bid of $10.9 billion for Santos Ltd., claiming support from the Australian oil and gas producer’s biggest shareholders. ...»

Oil pares gain as IEA discusses ways to tackle Venezuela risks

Oil traded near $71/bbl, paring earlier gains, as the International Energy Agency said it’s in talks with producing nations to step in should sanctions be imposed on Venezuela, resulting in a supply shortfall. ...»

Hedge funds keep cutting bets on oil rally as oil keeps rallying

As Brent oil prices climb, money managers are feeling less and less bullish. ...»

GEODynamics introduces professional grade perforating systems

GEODynamics’ Engineered Perforating Solutions Division has introduced FracIQ PRO, a revolutionary perforating system tailored for multi-stage plug-and-perf operations. ...»

Azinam to execute multi-well drilling campaign offshore Namibia

Azinam Limited, the Seacrest Capital Group backed explorer focused on offshore Namibia, is pleased to announce that it is planning a multi-well drilling campaign over the next 24 months. ...»

China energy firm CEFC defaults after Rosneft deal fails

As corporate defaults pile up in China’s onshore bond market, a unit of a once-promising energy conglomerate with $4.8 billion of debt and a checkered past said it won’t be able to meet its payment obligation Monday. ...»

Forget about oil at $80. The big rally is in forward prices

Brent crude grabbed all the attention after spot prices hit $80/bbl last week. And yet, almost unnoticed, a perhaps more important rally has occurred in the obscure world of forward prices, with some investors betting the "lower for longer" price mantra is all but over. ...»

UN panel asks biggest oil traders for North Korea information

A United Nations Security Council panel is asking the world’s biggest oil traders to disclose the actions they are taking to stop the sale of crude oil and petroleum products to North Korea in violation of sanctions. ...»

SDX Energy confirms significant discovery in South Disouq, Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well, following the recent conventional natural gas discovery at South Disouq, Egypt ...»

API: U.S. petroleum demand sustains its highest level in 11 years

The American Petroleum Institute (API) reported that the first four months of this year saw U.S. petroleum demand average 750,000 bpd above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 MMbpd of oil. ...»

ION announces new 2D multi-client program offshore Canada

ION Geophysical Corporation has announced a new 2D multi-client program offshore Grand Banks in Newfoundland, Canada. ...»

Simmons Edeco wins major North Sea contract for wellhead and valve maintenance

Simmons Edeco, a supplier of wellhead and valve maintenance, asset integrity solutions and onshore drilling services to the global oil and gas industry, announced that it has been awarded a multi-million pound contract by a major North Sea oil and gas operator. ...»

CNOOC, Husky sign PSCs for exploration blocks in the South China Sea

CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed two production sharing contracts (PSCs) with Husky Oil Operations (China) Limited for Block 22/11 and 23/07, in the South China Sea. ...»

Germany brushes aside U.S. objection to Russia gas pipeline link

Germany brushed aside U.S. concerns about a major natural gas pipeline that will deliver Russian gas to Europe, suggesting President Donald Trump’s administration appears to be protecting its own interests. ...»

For sale: Stalled pipeline project, angry protesters included

Justin Trudeau’s pipeline nightmare may be only getting started. ...»

No end in sight for European gas rally as oil hits $80

Higher European natural gas prices are here to stay. ...»

Echo Energy reports gas discovery at first of four exploration wells in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the successful completion of the ELM-1004 exploration well drilling at the Company's Fracción C asset, onshore Argentina, and a gas discovery for the first well in its four-well exploration campaign. ...»

Oil investors say more needed to tackle climate change

Some of the world’s biggest fund managers are increasing pressure on oil companies, expressing fear that a lack of action over tackling climate change could risk their investments. ...»

Crude rides best weekly winning streak since 2011

Crude is set for the longest run of weekly gains in seven years as concern over supply disruptions grows and a global glut dissipates. ...»

Oil rides best weekly winning streak since 2011

Crude is set for the longest run of weekly gains in seven years as concern over supply disruptions grows and a global glut dissipates. ...»

BP, Conoco said to be in talks for asset swap deal

BP Plc and ConocoPhillips are in discussions for an asset swap deal that would see the UK energy major gain a greater foothold in a key project in the North Sea and the U.S. explorer gain Alaskan assets, according to people familiar with the talks. ...»

Oil's rally stokes fears that demand will suffer

Oil’s rise to $80/bbl is stoking concerns that the price rally will erode demand, but OPEC’s giants so far aren’t worried. ...»

UIL Energy upgrades prospective resources at Walyering field in Australia

The Directors of UIL Energy Ltd. have announced the progress achieved at Walyering gas field, located in the southern part of EP447, in Australia's Perth basin. ...»

Lukoil completes integrated geophysical model for Denisov license area in northern Russia

Lukoil has built an integrated geological and geophysical model of fields and exploration structures of the Denisov depression in Timan-Pechora oil and gas province. ...»

TCarta delivers satellite derived bathymetry data for Total's seismic work offshore Myanmar

TCarta, a global provider of marine geospatial products, has delivered satellite derived bathymetry (SDB) to Total. Total will use the water-depth data for preparing seismic survey works off the coast of Myanmar. ...»

Goldman Sachs chides hedge funds by arguing the case for oil

Money managers who are reducing their bullish bets on oil are following a “dangerous” strategy, according to Goldman Sachs Group Inc. ...»

U.S. threatens sanctions if Nord Stream 2 project proceeds

The U.S. stepped up its opposition to the Nord Stream 2 natural gas pipeline linking Russia and Germany, saying the project raises security concerns and that it could draw U.S. sanctions. ...»

Faroe Petroleum completes sale of Fenja field interest

Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the completion of the previously announced sale of its 17.5% working interest in the Fenja development, located in PL586 in the Norwegian Sea. ...»

Total stops Iran gas project as risk from sanctions too high

Total will not risk investing in Iran following the return of U.S. sanctions, unless it can secure a waiver. ...»

Crude rises to $80/bbl for first time since 2014

Oil rose to $80/bbl for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of sanctions on Iran. ...»

More pain may come for Nigeria's loss-making oil behemoth

It’s meant to be a cash cow, but the state oil company of Africa’s biggest producer is bleeding money. ...»

U.S. oil gets cheaper versus Mideast crude after Iran sanctions

The oil price spread that will determine the type of crude bought by Asia in the wake of U.S. sanctions on Iran is currently in favor of American supply. ...»

Canada willing to cover any Kinder losses on pipeline expansion

Justin Trudeau’s government is prepared to take the extraordinary step of reimbursing Kinder Morgan Canada Ltd. for any financial losses if it proceeds with the expansion of an oil pipeline to the Pacific. ...»

BP awards Vroon Offshore Services multi-ship contract

Vroon Offshore Services Aberdeen has been awarded a long-term contract with BP. Under the multi-million-pound contract, Vroon Offshore will provide emergency response and rescue vessels (ERRVs) to support BP’s on-going and future operations in the North Sea and West of Shetland. ...»

Russia's OPEC deal dilemma worsens as idled crude capacity grows

Russia will face a tough choice in talks with OPEC next month as an increasing number of its valuable oil wells lie idle. ...»

AKOFS Offshore secures letter of intent from Equinor for light well intervention services

AKOFS Offshore, a company owned by Akastor ASA, has entered into a Letter of Intent with Equinor (formerly Statoil) for provision of year round light well intervention services (LWI) on the Norwegian Continental Shelf. ...»

Wintershall submits PDO for Nova field, in the Norwegian North Sea

Wintershall has, together with its partners Capricorn, Spirit Energy, Edison and DEA, submitted the Plan for Development and Operation (PDO) for its operated North Sea Nova field (formerly Skarfjell) to the Norwegian Ministry of Petroleum and Energy. ...»

BW Offshore contracts PG Flow Solutions for Polvo FPSO extension project

BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps to the FPSO operator’s life extension project for the Polvo FPSO. ...»

IEA cuts 2018 oil demand forecast as $70-crude takes a toll

The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption. ...»

Australia's "spaghetti junction" prompts teamwork to cut costs

The energy industry in Australia, looking back on an era of waste and profligacy, is now preaching the gospel of thrift and collaboration as it tries to attract more investment in an age of fiscal discipline. ...»

Iran plans first foreign oil pact since Trump left nuclear deal

Iran plans to sign a $1.16-billion agreement with the UK’s Pergas Resources International Ltd. to work on a southern oil field, marking the Persian Gulf nation’s first energy venture with a foreign company since U.S. President Donald Trump ripped up the Iran nuclear deal. ...»

Aker Solutions secures Troll phase 3 topside modification contract

Aker Solutions secured a contract valued at over NOK 1 billion from Equinor to deliver a module for the Troll A platform that will help increase output at one of Norway's largest natural gas fields. ...»

Repsol said to end hunt for oil growth in clean energy tilt

Repsol will no longer seek growth for its oil and gas business in preparation for the global transition to cleaner energy. ...»

Hamriya Free Zone Authority recognizes top petrochemical, oil and gas companies of Hamriya Free Zone

Hamriyah Free Zone Authority recognized top petrochemical, oil and gas companies of Hamriyah Free Zone during the “HFZA – Gulf Energy Information Petrochemical, Oil and Gas Event,” held in May 2018 at Hamriyah Free Zone Authority Head Office in Sharjay, UAE. ...»

Panoro Energy announces results of Tortue appraisal well, offshore Gabon

Panoro Energy has announced the successful drilling of the DTM-3 appraisal well located at Tortue field, within the Dussafu License, offshore Gabon. ...»

Rosneft starts drilling offshore production wells in Vietnam

Rosneft Vietnam B.V. has started drillling of LD-3P (Lan Do field) production well as part of Block 06.1 development. ...»

United Oil and Gas announced the completion of a 3D seismic survey for Tullow Oil, offshore Jamaica

United Oil and Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce the completion of a 3D seismic acquisition survey over the Walton-Morant licence, offshore Jamaica, which includes the high-graded Colibri target. ...»

Titanium Exploration Partners announces sale of assets to Red Rocks Energy Partners

Titanium Exploration Partners, LLC, is pleased to announce the sale of certain conventional assets in Oklahoma’s SCOOP play to Red Rocks Energy Partners, L.P. ...»

Nissan Chemical America Corp. expands production of well additive in Texas

Nissan Chemical America Corporation (NCA) is undergoing a $1.4-million expansion of its Pasadena, Texas, production facility. The goal of this plant improvement project is to increase production capacity to meet the rising sales demand of nanoActiv products from the oil and gas industry. ...»

Gas giants swap roles as biggest buyer turns to Australia

The gas market is being flipped upside down. ...»

Oil at $100/bbl won't hurt global economy as much as it did in 2011

The global economic impact of oil hitting $100/bbl won’t be as big as when that happened in 2011 thanks to changes in the U.S. ...»

Titanium Exploration Partners announced sale of certain conventional assets to Red Rocks Energy Partners

Titanium Exploration Partners, LLC, is pleased to announce the sale of certain conventional assets in Oklahoma’s SCOOP play to Red Rocks Energy Partners, L.P. ...»

Titanium Exploration Partners announced sale of certain conventional assets to Red Rocks Energy Partners, L.P.

Titanium Exploration Partners, LLC, is pleased to announce the sale of certain conventional assets in Oklahoma’s SCOOP play to Red Rocks Energy Partners, L.P. ...»

Oil rises to $79 in London on Mideast risk from Iran to Gaza

Oil climbed to a three-year high near $79/bbl in London on heightened political risks in the Middle East following unrest in Gaza and the return of sanctions against Iran. ...»

Iran oil exports face insurance snag no matter what Europe wants

If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude. ...»

Nissan Chemical America Corp. expands production facility in Pasadena, Texas

Nissan Chemical America Corporation (NCA) is undergoing a $1.4-million expansion of its Pasadena, Texas, production facility. The goal of this plant improvement project is to increase production capacity to meet the rising sales demand of nanoActiv products from the oil and gas industry. ...»

Europe seen taking the limelight from China's booming LNG demand

Europe is starting to steal some of the limelight from China’s booming liquefied natural gas demand as imports pick up after several lackluster years. ...»

Geopolitical fear factor leads Brent premium to widest this year

Geopolitical risks from Iran to Israel have led the global benchmark’s premium over West Texas Intermediate crude to widen, with the spread set to close at the largest since 2015. ...»

Ophir enters farm-out deal with Kosmos for exploration license in Equatorial Guinea

Ophir announces that it has entered into a farm-out agreement with Kosmos Energy covering the EG-24 exploration license in Equatorial Guinea. ...»

Ophir Energy enters farm-out agreement with Kosmos for exploration license in Equatorial Guinea

Ophir announces that it has entered into a farm-out agreement with Kosmos Energy covering the EG-24 exploration license in Equatorial Guinea. ...»

Total signs MOU for integrated gas project In Oman

Total has signed a Memorandum of Understanding (MOU) with the Government of Oman to develop natural gas resources in Oman. This MOU covers both upstream and downstream businesses. ...»

Statoil officially implementing name change

On May 15, 2018, the annual general meeting (AGM) in Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA. ...»

UAE sees OPEC oil capacity "buffer" offsetting Iran curbs

OPEC has enough spare production capacity to cushion oil markets as the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. ...»

India's oil demand surges for eighth straight month in April

India’s oil consumption surged 4.5% in April as industrial activity gathered pace in Asia’s third-largest economy and sales of trucks and buses soared. ...»

The 130-year-old bankruptcy that created a $5-billion oil giant

The hottest oil stock from the U.S. shale boom has never pumped a single barrel of crude. ...»

BHGE said to hold talks with Abu Dhabi on drilling stake

Baker Hughes, a GE company (BHGE), is in talks with Abu Dhabi National Oil Co. to set up a partnership that could lead to the U.S. firm taking a minority stake in the state-owned energy giant’s drilling unit, according to people with knowledge of the matter. ...»

Rovco attracts £1.2-million investment to launch live 3D subsea technology

Subsea services company, Rovco is on track to rapidly grow its share of the global subsea market after securing a £1.2-million investment, enabling the firm to launch its advanced live 3D subsea survey system and triple its workforce. ...»

Highlands Natural Resources reports spudding of six new wells

Highlands, the London-listed natural resource company, is pleased to announce that the six initial new wells being funded by Highlands' partners at the East Denver oil and gas project have now been spud. ...»

Lukoil signs new development plan for West Qurna-2 field in Iraq

Lukoil and the Basra Oil Company signed a development plan for West Qurna-2 field that provides for an oil production plateau of 800,000 bpd. According to the plan, the oil production of 480,000 bpd will be reached in 2020 and 800,000 bpd is expected in 2025. ...»

A U.S. shale gas cargo is heading to Israel for the first time

Israel is about to receive a cargo of U.S. liquefied natural gas, the first to arrive in the Middle Eastern nation from America’s shores since exports began in 2016. ...»

OPEC member complains U.S. president is driving up prices

It’s not often that an OPEC producer accuses the U.S. of driving up oil prices. ...»

IPAA supports Interior’s efforts to remove regulatory hurdles to offshore safety

Following the publication in the Federal Register of Bureau of Safety and Environmental Enforcement’s (BSEE) proposed revisions to the Blowout Preventer Systems and Well Control Rule, IPAA Senior V.P. of Government Relations and Political Affairs Dan Naatz praised the bureau’s work on revising flawed regulations and advancing safer offshore industry operations. ...»

PDVSA learns that Conoco pain may be worse than U.S. sanctions

ConocoPhillips may finish what U.S. sanctions started. ...»

U.S. gas exports set to gain as Iran deal dies

Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. ...»

Fugro reports successful licensing of seep, geochemical data before Canada's bid round

Fugro and partner, amplified geochemical imaging (AGI), have reported recent success selling licences for data from a frontier region offshore Canada. ...»

Shale's public enemy No. 1 says short the Permian and Eagle Ford

The geologist who earned the wrath of shale drillers a decade ago with forecasts that natural gas was about to run out is now warning that the Permian basin has just seven years of proven oil reserves left. ...»

Senator eyes oil tax to punish Canada over Alaska drilling clash

As Alaska’s congressional delegation worked feverishly last year to achieve the decades-long dream of drilling for oil in the Arctic National Wildlife Refuge, they came across a formidable opponent: Canada. ...»

Noble Energy to progress development of Alen field, offshore Equatorial Guinea

Noble Energy, Inc. today announced that it has executed, along with the Government of the Republic of Equatorial Guinea and necessary third-parties, a Heads of Agreement establishing the framework for development of natural gas from Alen field located offshore Equatorial Guinea. ...»

Shale's big boost won't bust the budget, drillers tell investors

The shale boom’s back in full swing, with fracing crews the busiest since 2014. The novelty this time around: Oil executives stressing their prudence, along with their production. ...»

Noble Energy announces agreement to progress development of Alen Natural Gas, offshore Equatorial Guinea

Noble Energy, Inc. today announced that it has executed, along with the Government of the Republic of Equatorial Guinea and necessary third-parties, a Heads of Agreement establishing the framework for development of natural gas from Alen field located offshore Equatorial Guinea. ...»

Crude near $71 as geopolitical conflicts seen at bay—for now

Crude traded little changed as Middle East conflicts are not seen escalating and output from other major producers is seen making up for any lost by Iran. ...»

Eni announces the start-up of third production unit at Zohr

Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 Bcfd. Zohr is now producing 1.1 Bcfd in ramp-up, equivalent to approximately 200,000 boed, of which 75,000 boed net to Eni at current working interest ...»

Abu Dhabi's Taqa shifts to growth mode after years of cutbacks

Abu Dhabi National Energy Co., the state-controlled oil and gas producer, is looking again at boosting spending after three years of cutting back, according to Chairman Saeed Mubarak Al-Hajeri. ...»

Trump's Iran move may kick worst U.S. gas market while it's down

President Donald Trump’s decision to scrap the Iran nuclear deal and restore sanctions was great for oil bulls. But for natural gas drillers in America’s hottest shale play, it could be a disaster in the making. ...»

Hey, oil giants: looking to sell renewables? Funds are all ears

If more oil companies want to follow Enbridge’s lead and sell renewable energy assets, there are plenty of institutional investors ready to pounce. ...»

Crude gains as Israel and Iran clash after Trump's sanctions move

Oil moved above $71/bbl on the risk of supply disruptions due to Middle East conflict, and the U.S. renewed sanctions on Iran. ...»

Iran crisis changes OPEC equation as Saudis signal supply boost

The international nuclear agreement with Iran might not be the only deal U.S. President Donald Trump has unraveled. ...»

Bibby Offshore secures subsea services contract with Spirit Energy

Bibby Offshore, a subsea services provider to the oil and gas industry, has secured a fixed term framework agreement with leading independent oil and gas operator, Spirit Energy. ...»

Eni completes ramp-up of production at Ochigufu field, offshore Angola

Eni has completed the ramp-up of Ochigufu field, in Angola’s deep offshore, reaching the production plateau of 24,000 bpd less than two months from start-up. ...»

Statoil awards five-year IMR services contract to Subsea 7

Statoil is awarding Subsea 7 Norway AS a five-year contract for IMR services to be carried out by the Seven Viking vessel for subsea operations on the Norwegian continental shelf (NCS). ...»

Iran sanctions may be a blessing for U.S. crude exports

A revival of U.S. oil sanctions on OPEC’s third-largest producer may set the stage for record-high U.S. crude exports by the end of this year. ...»

U.S. government raises crude output forecast for 2018-2019

The U.S. government boosted its forecast for domestic crude output both this year and next year amid a surge in prices. ...»

Echo Energy begins drilling first of four exploration wells onshore Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the commencement of drilling of the first exploration well in a four-well, back-to-back campaign in the Company's Fracción C asset, onshore Argentina. ...»

Here's how the biggest oil buyers can tackle Trump's Iran action

For the world’s biggest oil buyers, the imposition of U.S. sanctions on Iran will be a case of deja vu. ...»

Iran sanctions add to Venezuela collapse, jolting oil market

While the world ponders the fate of Iran’s exports, the oil market is exposed more than ever to the effects of Venezuela’s spectacular production collapse. ...»

Oil rises as Trump tells buyers to cut back on Iranian crude

Oil rose to a three-year high after the U.S. told buyers of Iranian crude they have six months to curb their purchases or face tough penalties. ...»

Trump says he'll exit Iran nuclear deal and reinstate sanctions

President Donald Trump said the U.S. will withdraw from the landmark 2015 accord to curb Iran’s nuclear program and reinstate financial sanctions on the Islamic Republic, opening an uncertain new chapter for the Middle East. ...»

U.S. seen cutting oil imports to lowest since Eisenhower

The U.S. will cut its reliance on foreign oil to the lowest in more than 60 years as domestic crude output surges to record levels. ...»

Fat arbitrage opportunity arises for oil traders in West Texas

Oil producers may be getting in their own way in the race to pump crude from the fertile Permian basin. ...»

Physical oil prices seen catching up with surging futures market

The end of some of the weakest physical crude prices in years could be in sight. ...»

SDX Energy spuds South Disouq exploration well in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that it has spud its Kelvin-1X exploration well at South Disouq, Egypt ...»

Energean receives Class approval for FPSO design for Karish-Tanin

Energean Oil and Gas announced that it has received Class approval from DNV-GL, the global quality assurance body, for the Basic Design of the new-build Floating Production Storage and Offloading (FPSO) that will be deployed at its deepwater Karish-Tanin development, offshore Israel. ...»

America's gas gusher seen boosting stockpiles by most since 2015

Soaring U.S. natural gas output probably expanded stockpiles of the fuel by the most seasonally in three years as mild spring weather curbed demand. ...»

Trump decision puts Iran's $200-billion energy wish-list at risk

With Donald Trump set to announce a decision today on whether to re-impose U.S. sanctions on OPEC member Iran, $200 billion in potential energy deals hang in the balance. ...»

Aqualis Offshore secures consultancy services agreement with Maersk Drilling

Maersk Drilling AS has awarded Aqualis Offshore UK Ltd. a global framework agreement for the delivery of offshore consultancy services and specific supplier personnel services. ...»

Shell to sell its Canadian Natural Resources stake for $3.3 billion

Royal Dutch Shell has agreed to sell out of oil-sands producer Canadian Natural Resources. ...»

Permian basin may have more to give

Call it Permian, version 3.0. That’s how Tim Dove, who leads Pioneer Natural Resources, refers to new well designs his company says are now pumping 35% more oil than their predecessors. ...»

Shell to sell Canadian Natural Resources for $3.3 billion

Royal Dutch Shell has agreed to sell out of oil-sands producer Canadian Natural Resources. ...»

SDX Energy reports gas discovery on Lalla Mimouna permit in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a conventional natural gas discovery has been made at its LMS-1 exploration well on the Lalla Mimouna permit in Morocco (SDX 75%). ...»

BP, Alaska Gasline Development Corp. sign binding gas sales agreement

The Alaska LNG Project reached a historic milestone today as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a gas sales agreement, including price and volume. ...»

Bakken shale getting back "in-the-money"

With breakthroughs in drilling technology reducing costs and crude oil prices near $70/bbl, wells in North Dakota are turning into cash cows. ...»

Oil faces a month of mayhem as geopolitical risks proliferate

Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. ...»

Iran opposes higher oil prices, signaling divide with Saudis

Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member and political rival Saudi Arabia, which is showing a willingness to keep tightening crude markets. ...»

Total at risk of losing gas field stake to CNPC if it quits Iran

Total SA, the only Western energy major investing in Iran, will lose its stake in the South Pars natural gas field to its Chinese partner if the Paris-based company withdraws from the country, the head of National Iranian Oil Co. said. ...»

Siemens and WorleyParsons to collaborate on energy, infrastructure projects in South America, Caribbean

Siemens signed an agreement with WorleyParsons to explore greater collaboration on energy and power infrastructure projects, grid optimization, integration of renewable technologies, and energy efficiency and storage technologies in North East South America and the Caribbean (NESAC) region. ...»

Crude market awaits Trump call on Iran curbs

U.S. oil rose above $70/bbl for the first time since November 2014 as traders braced for a re-imposition of U.S. sanctions on Iran. ...»

Shale drillers face new test of will as crude tops $70

For the oil industry, $70 offers a test of wills. ...»

One of Exxon's top women takes on the fast-moving world of shale

ExxonMobil Corp.’s Sara Ortwein has delivered some of the energy industry’s biggest engineering feats over a 38-year career. Her newest challenge: Winning in the nimble, fast-moving world of shale. ...»

Qatar steps in to buy Rosneft stake as China deal collapses

Qatar emerged as a major shareholder in Rosneft PJSC on Friday after a $9-billion deal to sell a stake in Russia’s state-run oil producer to China’s troubled CEFC Energy Co. collapsed. ...»

Statoil begins offshore mobilization for Norway's Johan Sverdrup

Up to 2,400 men and women have started to mobilize for the hook-up and completion of Johan Sverdrup field in the North Sea. ...»

Rystad Energy says 100 new offshore projects to be sanctioned this year

The current tailwind in the oil market is likely to propel 100 new offshore projects to be sanctioned in 2018, according to Rystad Energy. This compares to only 60 projects in 2017 and below 40 in 2016, as shown in the latest Oilfield Service Report by Rystad Energy. ...»

Norwegian Petroleum Safety Authority concludes investigation of December incident

The Norwegian Petroleum Safety Authority (PSA) has concluded and published their investigation of the fatal incident on Maersk Interceptor on Dec. 7, 2017. ...»

Cash-rich Thai explorer eyes assets worth up to $1 billion

Thailand’s PTT Exploration and Production Pcl is ready to shell out as much as $1 billion on an overseas petroleum asset this year, and possibly more, as it tries to prop up growth amid falling reserves. ...»

TransCanada plans to clear Montana land for Keystone XL in fall

TransCanada Corp. will take the initial steps of clearing brush in Montana this fall for construction of the highly-contentious Keystone XL pipeline. ...»

Man who ran Venezuelan oil giant for decade predicts fast demise

Rafael Ramirez, the once all-powerful Venezuelan oil czar, says the state producer he ran for almost 10 years is on the brink of collapse. ...»

Total to boost exploration efforts in South Africa as fuel network grows

French energy giant Total SA plans to boost oil exploration and open more fuel stations in Africa’s most industrialized country. ...»

Jumbo completes work on first LNG import terminal in Bangladesh

In 2017, Jumbo was awarded a contract by Geocean for the Moheshkhali Project. ...»

GlobalData says Russia’s new oil tax bill promises a big change, but has limited scope

The scope of Russia’s profit-based tax (NDM) pilot scheme will still be limited in the context of Russia’s upstream sector, according to GlobalData, a leading data and analytics company. ...»

Oil steady near $68 amid bets Trump will exit Iran accord

Oil traded near $68/bbl amid growing expectations that U.S. President Donald Trump will withdraw from a nuclear accord with Iran, threatening crude exports from OPEC’s third-largest producer. ...»

OTC '18: Japanese official details country’s LNG role, clarifies nation’s energy mix

At an Offshore Technology Conference (OTC) topical breakfast in Houston on Wednesday, Takuma Iino Deputy Director of the Petroleum and Natural Gas Division at Japan's Ministry of Economy, Trade, and Industry, said that LNG has become even more important in the country’s energy mix. ...»

McDermott, CBandI receive approval for proposed combination

McDermott International, Inc. and CBandI announced that both companies have received the necessary stockholder approvals to complete the proposed business combination. ...»

Apache Corporation capitalizes on shorter completion cycles in the U.S.

Apache reported earnings of $124 million, or $0.32 per share. Net cash provided by operating activities in the quarter was $615 million. Before working capital changes, Apache generated $799 million in operating cash flow. Adjusted earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses (adjusted EBITDAX) was $1.1 billion. ...»

BP said to weigh acquisition of BHP shale assets

BP Plc is weighing an acquisition of some of BHP Billiton Ltd.’s energy assets as the British oil major seeks more U.S. shale, according to people familiar with the matter. ...»

Oil-rich Persian Gulf set to add another member to triple-digit debt club

Bahrain, one of only three Middle East oil exporters that needs crude above $100 to break even, will soon be part of another short list: the triple-digit debt club. ...»

Crude flows to export terminal in Scotland halted

The flow of Brent crude oil to an export terminal in Scotland was halted this week, a development that will further erode already weak shipments from the North Sea. ...»

Russia stands by OPEC deal even after two months of overproducing

Russia reaffirmed its pledge to an alliance with OPEC, despite two months of breaching its target under a global oil-output deal. ...»

Eni reports oil discovery in Egypt's Faghur basin

Eni announces an oil discovery on the A-2X exploration prospect in the South West Meleiha license, in the Egyptian Western Desert, some 103 km north of the oasis of Siwa. ...»

ION commences new 2D multi-client program offshore West Africa

ION Geophysical Corporation has announced acquisition began on a new 2D multi-client program offshore Ghana in partnership with Geoex and Ghana Geophysical. ION and its partners will acquire up to 7,200 km of data in advance of the license round anticipated in late 2018 to help refine understanding of the hydrocarbon potential of the area. ...»

Weir introduces fleet maintenance technology to address remote location challenges

Weir introduced its second-generation RFID technology to enable frac iron fleet maintenance in the field in remote locations plagued with low internet or cellular connections. ...»

IMF boost to Saudi break-even oil price offers OPEC policy clues

Whenever Saudi Arabian officials are asked what oil price the kingdom want, they almost always reply that they have no preference. Recent reports that the world’s largest exporter was aiming for $80/bbl elicited the same response: there’s no target. ...»

Iran's surge in oil exports doesn't mean output is on the rise

Iran is seeing bumper oil exports. But that doesn’t mean production is on a similar trend. ...»

Oil struggles near $68 as inventory gain overshadows Iran fears

Oil’s recovery, buoyed by potential supply risks, was capped by rising U.S. inventories while President Donald Trump neared a decision on whether to reimpose sanctions on Iran. ...»

OTC '18: BOEM’s director says agency continues to carry out Trump’s offshore agenda

Dr. Walter Cruickshank, acting director of the federal Bureau of Ocean Energy Management, delivered an update on the state of offshore activity and regulation during a luncheon at OTC in Houston. ...»

Santos announces sale of non-core Asian assets

Santos today announced the sale of its non-core Asian portfolio to Ophir Energy plc (Ophir) for $221 million. ...»

Oil-price skirmish heats up as China trader seeks Saudi cuts

The trading unit of one of the world’s biggest refiners is displeased with Saudi Arabia’s oil pricing, which may benefit the U.S. and Russia. ...»

BOEM’s director says agency continues to carry out Trump’s offshore agenda

Dr. Walter Cruickshank, acting director of the federal Bureau of Ocean Energy Management, delivered an update on the state of offshore activity and regulation during a luncheon at OTC in Houston. ...»

Saudi Arab Light crude price to Asia at highest since 2014

Saudi Arabia set the price of its benchmark crude in Asia at the highest level since August 2014, after China’s biggest refiner asked for fewer bbl because of high prices. ...»

Trelleborg launches helically grooved drill riser

Trelleborg has introduced a new-style drill riser buoyancy module that significantly reduces drag and flow-induced motion. ...»

Halliburton introduces non-intrusive pipeline and wellbore diagnostics

Halliburton introduced a non-intrusive diagnostic technology that accurately detects blockages or leaks and profiles deposits in pipelines and wellbores without the need for intervention. ...»

Siemens introduces lithium-ion battery for offshore operations

Siemens is applying its electrification experience in the marine industry to offshore oil and gas, to reduce emissions and risk in unforgiving operational environments. ...»

InterMoor launches acoustic release mooring connectors

InterMoor, a leading provider of mooring services, foundation solutions and offshore installations in subsea services group Acteon, has announced the market introduction of its new Inter-M Release mooring connector. ...»

Siccar Point Energy confirms Cambo well spud, Shell deal completion

Siccar Point Energy has started drilling a final appraisal well on Cambo field, north-west of Shetland, with results expected this summer. ...»

Oil's lifeline turns into $7-billion drag as crude prices jump

There’s a downside to oil prices being up that could cost the industry more than $7 billion. ...»

OPEC's reason for sticking with cuts rests on shaky ground

OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky. ...»

BP surges to 2010 high as analysts rave about beat, cash flow

MOSCOW (Bloomberg) -- BP Plc analysts praised results which beat estimates thanks to strength in both the upstream and downstream divisions, helping to send the shares to an almost eight-year high. ...»

Saudi Arabia's economic revamp is still an oil story

Saudi Arabia’s efforts to shore up public finances and revive economic growth are still pretty much dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports. ...»

Reeling from job cuts, Mexican oil country pins hopes on a rebel

In the wetlands of Tabasco in southeast Mexico, indigenous farmers stand guard outside oil wells. They have no official status -– but anyone who wants to do business there has to pay to get past. ...»

Oil investors show they want more than just profit

Big Oil’s investors took a bruising for nearly three years as oil prices bumped along decade lows. Now they want payback. ...»

Rosneft appeals to market with $2-billion buyback, debt cut

Rosneft PJSC plans to start a $2-billion share buyback this year, while also cutting spending and debt. ...»

WandT Offshore, BHGE announce strategic partnership for 14 GOM projects

WandT Offshore Inc. and Baker Hughes, a GE company (BHGE), announced a strategic partnership related to WandT’s joint exploration and development program, which includes 14 drilling projects, most of which are operated by WandT in the Gulf of Mexico (GOM). ...»

WandT Offshore, BHGE announce strategic partnership for 14 GOM projects

WandT Offshore Inc. and Baker Hughes, a GE company (BHGE), announced a strategic partnership related to WandT’s joint exploration and development program, which includes 14 drilling projects, most of which are operated by WandT in the Gulf of Mexico (GOM). ...»

Lukoil completes installation of wellhead platform topside at Korchagin field

Lukoil has completed the installation of the wellhead platform's topside as part of Yury Korchagin field Phase 2 development in the Russian sector of the Caspian Sea. ...»

Universal Subsea Inc. introduces new subsea isolation cap at OTC

Sean Thomas, P.E., general manager at Universal Subsea Inc., presented the company’s business plan and patent-pending Wellhead Defender subsea isolation cap at the Rice Alliance Startup Roundup at OTC on April 30. ...»

Encana skirts North American pipeline mess to protect prices

Encana Corp. has so far avoided the pipeline bottlenecks that are damping prices for Permian crude and Canadian natural gas, thanks to the company’s hedging program and transportation agreements. ...»

As oil hits $75, Shell wants deepwater costs at $40 or below

The Big Oil playbook has been straightforward for decades: Higher prices mean offshore projects that are further, deeper, more complex than ever before. It’s different this time, according to Royal Dutch Shell Plc. ...»

Iran's oil exporters have record month before possible sanctions

Iran’s crude exporters had a banner April, with shipments soaring to a record right before the possible re-imposition of U.S. sanctions on their oil sales. ...»

BP profit beats estimates even as fines boost debt

BP Plc capped a shaky Big Oil earnings season on a more upbeat note, as shareholders reacted positively to the highest profit in years even as the continuing burden of oil-spill payments pushed debt higher. ...»