The past, present and future of subsea

Structural Consultant, Justin Jones, recently shared his perspective on how pipeline design has evolved over the past 50 years and his vision on what the future holds, while presenting at Subsea UK’s Back to the Future of Subsea event in Woking. ...»

Crude crisis hits growth forecast in Canada's top oil province

Alberta slashed its economic growth forecast for this year and next as plunging prices for local crude threaten to eat into corporate profits and reduce investments. ...»

Oil explorers expand U.S. drilling as OPEC prepares to talk cuts

Oil explorers expanded drilling in American fields as OPEC and allied crude exporters prepared to discuss production controls and cratering prices. ...»

Shale gluts and ship rules make heavy sweet oil an unlikely star

There’s a rising star in the oil world, and it’s heavy and sweet. ...»

Shell completes sale of Draugen and Gjøa interests to OKEA

A/S Norske Shell has completed the sale of its interests in the Draugen and Gjøa fields in Norway for ~$526 million (4,52 billion NOK) to OKEA AS. ...»

Shell completes upstream Ireland exit for ~$1.3 billion

Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has completed the sale of its shares in Shell EandP Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion (€1.14 billion), to Nephin Energy Holdings Limited (NEHL), a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB). ...»

Oil hinges on Saudi dilemma: Bust budget or anger trump?

The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy. ...»

Trump said to advance seismic surveys in Atlantic

The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil under Atlantic waters. ...»

Total has been granted a drilling permit for well 6406/6

The Norwegian Petroleum Directorate has granted Total EandP Norge AS a drilling permit for well 6406/6-6 A, cf. Section 15 of the Resource Management Regulations. ...»

Rosneft and Chinese Hengli Group signed a cooperation agreement, that includes EandP projects

Rosneft Oil Company and Chinese Hengli Group signed a cooperation agreement as part of the first Russian-Chinese energy business forum. The document was signed by Igor Sechin, CEO, Rosneft Oil Company, and Chen Jianhua, president of Hengli Group. ...»

Alberta's Notley leaves oil industry hanging on output-cut idea

Alberta Premier Rachel Notley reiterated her call for Canadians to support new oil pipelines and improve two energy bills at a speech in Toronto, but made no mention of whether she’ll mandate crude-production cuts. ...»

Exxon will use wind, solar to produce crude Oil in Texas

Exxon Mobil Corp. will use renewable energy to produce oil in West Texas. ...»

EnVen Energy has spudded King Crab and mobilized GL-5

EnVen Energy Corporation has announced that it spud its King Crab well on Ewing Bank Block 873, in its Lobster field. ...»

EnVen Energy spuds King Crab well, in the Gulf of Mexico

EnVen Energy Corporation has announced that it spud its King Crab well on Ewing Bank Block 873, in its Lobster field. ...»

Oil rebounds as Russia said to be willing to join OPEC output cuts

Oil prices bounced back to $51/bbl in New York, erasing an earlier loss, after a report that Russia accepts the need to cut production in conjunction with OPEC. ...»

South Africa to introduce new oil, gas law after 2019 polls

South Africa will introduce new oil and gas laws after elections next year, Mineral Resources Minister Gwede Mantashe said. ...»

Trio of explorers aim to hit East Africa gas jackpot once again

A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery. ...»

Shale patch seen cutting budgets for first time since crash

Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. ...»

Subsea Innovation has been awarded two high-profile contracts

Subsea Innovation Ltd, part of Tekmar Group plc, has announced two high profile contract wins with Royal IHC, as part of a collaborative framework agreement. ...»

Siemens and ADNOC celebrate inauguration of Taweelah Gas Compression Plant

The Abu Dhabi National Oil Company (ADNOC) inaugurated its Taweelah Gas Compression Plant, ensuring uninterrupted gas supplies to major Abu Dhabi industries and the UAE’s Northern Emirates. The plant, located 50 km north of Abu Dhabi, will utilize up to 450 MMscfd of sales gas, delivered to the facility by ADNOC Gas Processing’s recently installed Maqta-Taweelah pipeline. ...»

Germany to buy more U.S. LNG as Trump promotes commodity in Europe

RWE AG plans to buy more U.S. liquefied natural gas after signing two contracts this year in a strategy to bulk up the utility’s sources of the super-chilled fuel. ...»

Energy Web Atlas has named Harry Brookby V.P., data sales

Energy Web Atlas names Harry Brookby as V.P., data sales ...»

i-Tech Services wins first contract under new vessel charter agreement

Following the signing of a long-term vessel charter agreement in the Asia Pacific region earlier this year, i-Tech Services’ MMA Pinnacle has secured its first inspection, repair and maintenance (IRM) contract with an integrated oil and gas services company, based in Malaysia. ...»

BHGE launches Subsea Connect and Aptara TOTEX-Lite subsea system

Baker Hughes, a GE company has announced the launch of its new approach to subsea development: Subsea Connect, including its Aptara TOTEX-lite subsea system. ...»

Alberta works to buy crude rail cars amid record low oil prices

Alberta is working to buy rail cars to help ship more crude as pipeline bottlenecks have the oil-rich province grappling with historic low prices for its energy products. ...»

BP names new Gulf of Mexico platform

BP has announced that the new floating production unit for the Mad Dog 2 project in the deepwater Gulf of Mexico will be named Argos. ...»

Energy Web Atlas names Harry Brookby as Vice President of Data Sales

Energy Web Atlas names Harry Brookby as Vice President of Data Sales ...»

Pemex triples estimate for biggest onshore find in 25 years

Pemex has more than tripled its estimated reserves in its Ixachi field. ...»

President Energy completes acquisition of Las Bases, Puesto Prado concessions

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided details on the completion of the acquisition of its interests in the Las Bases and Puesto Prado Concessions, Rio Negro Province, Argentina (President, Operator and 90%; EDHIPSA, 10%). ...»

Russia reduces oil output ahead of talks with Saudi prince

Russia’s oil output in November fell from near-record levels as President Putin prepares to meet Saudi Crown Prince Mohammed bin Salman this week ahead of OPEC+ talks in Vienna. ...»

DynaEnergetics expands manufacturing facility in central Texas

DynaEnergetics has opened new manufacturing facilities in Blum, Texas. The facility expands the production capacity of the company’s DynaStage well perforating system. ...»

C-Kore identifies subsea problem for Norske Shell, offshore Norway

C-Kore Systems have successfully completed a contract with Norske Shell, where their C-Kore subsea testing tools were used to assist with fault-finding in the Draugen field offshore Norway. ...»

Opinion: Oil field steel import quotas are the wrong solution

Negotiators with the office of the U.S. Trade Representative (USTR) may be preparing to recommend import quotas on the specialized steel that comes from Mexico and Canada. ...»

Canada's oil output is growing despite its pipeline problems

Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. ...»

Petrofac collaborates with supply chain to deliver significant savings on Tullow scope

When Petrofac was appointed as well operator and main contractor for the latest phase of the Thames decommissioning project, the pressure was on to relive the success it delivered in 2016 for Tullow Oil. ...»

Keystone XL eyes February construction start despite legal woes

TransCanada Corp. is asking a federal judge in Montana to authorize early work on its $8 billion Keystone XL oil pipeline even as the decade-long project faces outstanding legal challenges. ...»

Chet Morrison successfully completes EPCIC project offshore Trinidad and Tobago

Morrison was awarded the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract from Trinidad and Tobago’s newest upstream operator, DeNovo Energy Limited (DeNovo). ...»

Chet Morrison successfully completes EPCIC project offshore Trinidad and Tobago

Morrison was awarded the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract from Trinidad and Tobago’s newest upstream operator, DeNovo Energy Limited (DeNovo). ...»

Ensign beats Precision Drilling in bidding war for Trinidad

Ensign Energy Services Inc., the Canadian oilfield-services company partly owned by Murray Edwards, has succeeded in its hostile bid for Trinidad Drilling Ltd. ...»

McDermott awarded subsea contract by Shell for Great White Frio development

McDermott International, Inc. has announced a sizeable contract from Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell plc, for new subsea umbilical and flowline installation at the Great White Frio development in Alaminos Canyon Block 857 in the U.S. Gulf of Mexico. ...»

McDermott awarded subsea umbilical and flowline installation contract by Shell for Great White Frio development

McDermott International, Inc. has announced a sizeable contract from Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell plc, for new subsea umbilical and flowline installation at the Great White Frio development in Alaminos Canyon Block 857 in the U.S. Gulf of Mexico. ...»

Aquaterra Energy lands double platform contract for NNPC / FIRST EandP JV in Nigeria

Aquaterra Energy, a leader in global offshore engineering solutions in conjunction with Maerlin Nigeria Ltd, its local partner, has been awarded a contract by FIRST Exploration and Petroleum Development Company Ltd (FIRST EandP) to design, engineer and install two non-identical Sea Swift conductor-supported offshore platforms in the Niger Delta Basin. ...»

Israeli Minister of Energy announces new 2018 Offshore Bid Round

Israel launches its second Offshore Bidding Round (OBR 2018) to grant exploration licenses for natural gas and oil in Israel’s economic waters in the Eastern Mediterranean. OBR 2018 builds upon the growing regional importance of the Eastern Mediterranean as a hydrocarbon province, the progress made with the development of the giant Tamar and Leviathan fields, as well as the Karish and Tanin fields in Israel’s offshore waters, and the rapidly improving domestic and export options for monetizing produced gas. ...»

Tankers going nowhere indicate LNG market becoming more like oil

Some liquefied natural gas sellers aren’t in a rush to deliver their multimillion-dollar cargoes. ...»

Saudi-Russia oil alliance faces big test as prices crash

The most powerful partnership in the global oil market, which rescued the industry from a deep slump, faces its toughest test yet. ...»

Crude gains most in two months on G20 Summit optimism

Crude posted its biggest gain in almost two months as the world’s largest oil exporters prepare to discuss global supplies. ...»

Faroe issues strong response to unsolicited offer from DNO ASA

Further to its earlier announcement, the board of Faroe have now met together with its advisers and considered the announcement released earlier today by DNO of an unsolicited offer for the entire issued and to be issued share capital of Faroe not already owned by DNO at 152 pence per share. ...»

Gazprom Neft implements 2030 digital transformation strategy

Gazprom Neft’s board of directors has reviewed information on further improving the efficiency of the oil business’s operational processes through the use of innovative digital technologies. ...»

Faroe isses strong response to unsolicited offer from DNO ASA

Further to its earlier announcement, the board of Faroe have now met together with its advisers and considered the announcement released earlier today by DNO of an unsolicited offer for the entire issued and to be issued share capital of Faroe not already owned by DNO at 152 pence per share. ...»

Aramco plans to invest $500 billion as oil giant expands abroad

Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification. ...»

Wintershall acquires stake in UAE's largest undeveloped gas and condensate fields

Wintershall will invest in one of the world’s most important centers for oil and gas production ...»

Gazprom Neft implements 2030 digital tranformation strategy

Gazprom Neft’s board of directors has reviewed information on further improving the efficiency of the oil business’s operational processes through the use of innovative digital technologies. ...»

Gazprom Neft implements 2030 digital tranformation strategy

Gazprom Neft’s board of directors has reviewed information on further improving the efficiency of the oil business’s operational processes through the use of innovative digital technologies. ...»

Oil bulls flee as Saudis stir echo of worst rout in decades

Hedge funds haven’t been this pessimistic about global oil prices since Brent crude was spiraling into its worst rout in a generation almost three years ago. ...»

Webtool develops subsea pipeline decommissioning tool

Hydraulic subsea tools specialist, Webtool, is developing a Fast Intervention Tool for subsea pipeline decommissioning in conjunction with Chevron Energy Technology Company. ...»

Saudi output reaches record as Trump presses for cheaper oil

Saudi Arabia is pumping more crude than at any time since its first barrel was extracted 80 years ago, responding to pressure from U.S. President Donald Trump to keep driving oil prices lower. ...»

LNG import boom seen as no relief for Australian gas prices

Plans in Australia to import gas to ease a supply squeeze may fail to bring down domestic prices as it pits the nation against some of the world’s biggest buyers for supplies. ...»

DNO to make cash offer for all shares of Faroe Petroleum

DNO ASA, the Norwegian oil and gas operator, has announced the terms of an offer to be made by DNO ASA for the whole of the issued and to be issued share capital of Faroe Petroleum plc ...»

Maersk Drilling gets four-month extension for Maersk Intrepid

Equinor has exercised two options of two months each for jack-up rig Maersk Intrepid. ...»

Donald Trump and America can't live without OPEC, according to Bloomberg

The U.S. Department of Justice is formally reviewing antitrust laws aimed at curbing OPEC’s power over oil markets, raising the prospect of anti-OPEC legislation landing on President Donald Trump’s desk for signature. ...»

Venezuela fuel shortages worsen as tanker staff said to flee

Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. ...»

Shale boom raises specter of new glut: Gulf Coast oil terminals

The race to export U.S. shale oil overseas is about to get fierce, with at least nine proposed terminals angling for a piece of a very limited pie. ...»

Angola President doesn't see oil price rising to more than $100

Oil is unlikely to return to levels much above $100/bbl and current prices are making it difficult for major producers such as Angola, according to the country’s president. ...»

New rail cars aren't short-term fix for oil crunch, Canadian financial minister says

Canadian Finance Minister Bill Morneau is signaling he won’t cough up money for new rail cars to ship Alberta oil, saying it would take months and wouldn’t solve the current price collapse. ...»

ADNOC’s first investor forum highlights co-investment, partnership opportunities

ADNOC hosted 200 members of the global investment and financial community at its inaugural investor forum in Abu Dhabi, providing attendees with a deeper understanding of ADNOC’s transformation and delivery, value creation plans, 2030 smart growth strategy and pipeline of new partnership and co-investment opportunities across its value chain. ...»

Saudi oil minister suggests Kingdom's output reaches a record

Saudi Arabia is producing oil in excess of 10.7 MMbpd, more than in recent years, Energy Minister Khalid Al-Falih said, giving the strongest indication yet that the kingdom has boosted output to record levels. ...»

Crude's black friday blowout imperils driller budgets, RBC says

Oil markets are offering a “Black Friday Special” that’s probably inducing heartburn for a lot of U.S. drillers, RBC Capital Markets said. ...»

Iran oil waivers: How buyers are lining up after U.S. exemptions

Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy. ...»

Bolsonaro seeks $30 billion Brazil oil boon where others failed

President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he’s facing the same political obstacles as his two predecessors. ...»

Oil careens lower on record Saudi production, global stock slide

Oil careened lower on Friday, with futures in London slipping below $60 for the first time in a year, as a global stock-market sell-off and signs of record Saudi output helped intensify crude’s late-year freefall. ...»

Faroe makes discovery north of the Oseberg field, North Sea

Faroe Petroleum Norge AS, operator of production license 825, is in the process of concluding the drilling of wildcat well 30/6-30. ...»

BP starts up Clair Ridge production offshore UK

BP, on behalf of co-venturers Shell, Chevron and ConocoPhillips, have announced first oil production from the giant Clair Ridge project in the West of Shetland region offshore UK. ...»

President Energy's update on Argentina well sees 600 bopd

President Energy has provided an update on its drilling program at the Puesto Flores/Estancia Vieja Concession, Rio Negro Province, Argentina. ...»

Europa's update on Wressle, North Lincolnshire

Europa Oil and Gas notes an update from Egdon Resources that its application for planning consent for the development of the Wressle oil field on PEDL 180 has received a recommendation for approval. ...»

Ashtead Technology acquires Welaptega

Global subsea equipment solutions specialist, Ashtead Technology has further bolstered its rapidly-expanding inspection, maintenance and repair (IMR) services and capabilities with the acquisition of Canadian-based underwater inspection company, Welaptega. ...»

China names oil and gas veteran to top energy post

China has named a leading business executive to its top energy post, eschewing a practice of appointing career politicians as the nation pushes through an overhaul of its massive energy sector. ...»

Gazprom BoD reviews prospects of shale gas, LNG sectors

The Gazprom Board of Directors took note of the information about the prospects of the shale gas and liquefied natural gas (LNG) sectors around the world, as well as the opportunities and threats facing the company. ...»

Is a shale-sized oil boom hiding in Britain’s Atlantic Bedrock?

On a sunny October morning, members of the The Geological Society pack an ornate lecture theater at their imposing headquarters on London’s Piccadilly. ...»

Justice Department is said to be reviewing anti-OPEC legislation

The Department of Justice is formally reviewing antitrust legislation aimed at reining in OPEC’s power over oil markets, according to a department official. ...»

Western Canadians slam lack of aid to oil in Trudeau's budget

Justin Trudeau’s federal budget update stirred some anger in Canada’s oil-rich West. ...»

Enbridge counters claim `air barrels' sent through pipeline

Enbridge Inc. is pushing back at criticism that its procedures for nominating barrels of oil shipped through the company’s pipeline system is partly to blame for depressed Canadian crude prices. ...»

Equinor made a gas discovery northwest of Atlantis

Equinor Energy AS, operator of production licence 615, has completed the drilling of wildcat well 7324/3-1. ...»

Gazprom and CNPC held the 14th JCC meeting

The 14th meeting of the Joint Coordinating Committee (JCC) of Gazprom and CNPC moderated by Vitaly Markelov, deputy chairman of the Gazprom management committee, and Hou Qijun, V.P., CNPC, took place in Guangzhou, People’s Republic of China. ...»

Gazprom and CNPC held the 14th meeting of JCC

...»

Equinor is stepping up the LPG activity in South-East Asia

Equinor and Global Petro Storage (GPS) have entered into a long-term agreement for a terminal and storage for LPG (Liquified Petroleum Gas) volumes in Port Klang in Malaysia. ...»

Minister orders termination of all contracts with Subsea 7

At the South Sudan Oil and Power Conference in Juba, the Minister of Mines and Hydrocarbons announced the decision to mandate all petroleum operators to cancel all contracts with U.S.-based oil service company Subsea 7, due to noncompliance of Equatorial Guinea’s local content regulations. ...»

OPEC's worst nightmare: Permian is about to pump a lot more

OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 MMbpd. ...»

Major storm shuts all of Eastern Canada's crude oil production

A huge low-pressure system that swept through Canada’s Atlantic seaboard last week shut all of the region’s oil production. Only one field has restarted service in the storm’s wake, while another is battling an oil leak. ...»

Chevron reports first oil at Big Foot, in deepwater GOM

Chevron Corporation has announced that the Chevron-operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. ...»

Fugro achieves significant cost savings through innovative ROV deployment technique

Fugro says its innovative use of platform deployed ROV (PDROV) technology has demonstrated substantial reductions in the costs of subsea jacket inspections and significant operational improvements. ...»

Johan Castberg construction begins at Stord, says Equinor

Norwegian minister of petroleum and energy, Kjell-Børge Freiberg, will start cutting the first sheet for the topside of the Johan Castberg vessel at Kværner's yard at Stord. ...»

Johan Casterg construction begins at Stord, says Equinor

Norwegian minister of petroleum and energy, Kjell-Børge Freiberg, will start cutting the first sheet for the topside of the Johan Castberg vessel at Kværner's yard at Stord. ...»

Faroe Petroleum commences drilling of 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, has announced the commencement of the Faroe-operated Brasse East exploration well 31/7-3 S, in the Northern North Sea (Faroe 50% working interest). ...»

Fast4Ward gaining speed - SBM Offshore signs for hull #2 as keel is laid for hull #1

...»

Dana Gas, Crescent Petroleum report 30% increase in gas output in Kurdistan

Dana Gas, alongside its partner Crescent Petroleum, has announced achievement of a 30% increase in production capacity at Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of Pearl Petroleum. ...»

MMEC Mannesmann opens regional headquarters in Abu Dhabi

MEC Mannesmann GmbH (MMEC), a global leader in engineering, procurement and construction (EPC), has announced the opening of its branch office in Abu Dhabi that will function as a regional headquarters. ...»

Aubin announces senior management changes

Aubin, the chemical solutions provider to the energy industry, has realigned its senior management team to enhance the company’s technology development and support its continued business growth. ...»

Interior Department moves to expand drilling in Alaskan oil reserve

The Trump administration is moving to expand the territory open for oil exploration in Alaska’s National Petroleum Reserve. ...»

BOEM seeks input on potential Beaufort Sea lease sale

BOEM has announced it will prepare an Environmental Impact Statement (EIS) in support of a potential 2019 oil and gas lease sale in the Beaufort Sea, off Alaska’s northern coast. ...»

Husky suspends operations at White Rose field, offshore Newfoundland

According to Husky Energy, operations remain suspended at the SeaRose floating production, storage and offloading (FPSO) vessel with all production wells secure after a period of extreme weather late last week. ...»

U.S. sanctions Russian companies to choke off oil for Syria

The Trump administration sanctioned an Iranian company and three Russian companies in an effort to choke off oil sales to Syria. ...»

PermianChain Technologies introduces blockchain network to improve investment

PermianChain Technologies is introducing the Permian Token (XPR), a crypto asset-class that will underpin holding rights to the value of potential but undeveloped oil and gas reserves. ...»

Oil falls to lowest level in a year on concerns of looming supply glut

Oil tumbled below $54/bbl for the first time in a year amid concern OPEC’s plans to cut production won’t be enough to stem a surge in stockpiles and a selloff in global equities. ...»

PermianChain Technologies introduces blockchain network to improve investment efficiency

PermianChain Technologies is introducing the Permian Token (XPR), a crypto asset-class that will underpin holding rights to the value of potential but undeveloped oil and gas reserves. ...»

TransGlobe Energy announces test results for Egyptian discovery well

TransGlobe Energy released test results for the South Ghazalat 6X oil discovery well in the Arab Republic of Egypt. ...»

Alberta seeks refineries, could cut oil output, Notley says

Alberta will pursue building new refineries as the oil-rich Canadian province looks to weather a crude price crunch, while a forced production cut also remains an option. ...»

Trump agency moves to expand drilling in Alaskan oil reserve

The Trump administration is moving to expand the territory open for oil exploration in Alaska’s National Petroleum Reserve. ...»

Oil downside risk at four-year high on OPEC inaction fears

Energy traders are bracing for an OPEC-induced sell-off like it’s 2014 all over again. ...»

Oil resumes slide as fears persist over looming supply surplus

Oil dropped again on persistent fears that a surplus will re-emerge next year despite OPEC’s plans to cut production. ...»

Deep divisions hinder Canadian oil patch in fight of its life

Amid the worst crude-price environment in its history, the Canadian oil industry is being hamstrung by internal divisions that are making it harder to rally around potential solutions. ...»

Ensign in 'pole position' to buy trinidad after ultimatum

Ensign Energy Services Inc. may have taken the upper hand in the battle to acquire Trinidad Drilling Ltd., after giving shareholders a tighter deadline to accept its cash offer or settle for a lower all-stock bid from Precision Drilling Corp. ...»

Oil regains ground as capacity warnings counter Russia questions

Oil prices regained ground after an earlier slide, as traders weighed countervailing signals about how much OPEC and its allies can afford to trim production. ...»

Enpro Subsea and Kosmos Energy commit to subsea ‘smart standardization’ in GoM

Enpro Subsea has announced that it has reached an MSA with Kosmos Energy aimed at providing enhanced subsea architecture and smart standardization via Enpro’s patented flow access module (FAM) technology. ...»

Saturn Oil and Gas announces 1,000 bopd production rate, operational update

Saturn Oil and Gas Inc. is pleased to announce that with the success of the recent drill program the company has achieved a production rate of 1,000 bopd. ...»

Saipem 7000 semi-submersible at Damen Verolme Rotterdam for DPS upgrade

The Saipem 7000, one of the largest semi-submersible crane and pipelaying vessels in the world, has arrived at Damen Verolme Rotterdam (DVR) for a major upgrade of its current DP3 system to meet the new closed ring DP3 configuration and ABS EHS-P notation. ...»

Slovakia seen strengthening energy security, IEA says

The Slovak Republic has made significant progress on several fronts of energy policy, and together with its neighbors and with the support of the European Union, has strengthened cross-border connections for natural gas, oil and electricity. ...»

Oil short-selling jumps in record streak as faith in OPEC wanes

Hedge funds are betting OPEC will struggle to reverse oil’s precipitous plunge. ...»

Libya oil boss sees country exempted from future OPEC cuts

Libya’s top oil chief expects OPEC and allied producers to exempt the strife-torn North African country from any future cuts in crude output. ...»

ADNOC announces additional partnerships

ADNOC will accelerate delivery of its new integrated gas strategy, as well as its plans to increase its oil production capacity to 4 MMbpd by 2020. ...»

Cimarex to acquire Resolute Energy for $1.6 billion

Cimarex and Resolute Energy have entered into a definitive agreement where Cimarex will acquire Resolute in a cash and stock transaction valued at $35.00/share, or a total purchase price of approximately $1.6 billion. ...»

Bloomberg Opinion: The oil price is now controlled by just three men

OPEC has lost what control of the oil market it ever had. The actions (or tweets) of three men — Presidents Donald Trump and Vladimir Putin and Crown Prince Mohammed Bin Salman — will determine the course of oil prices in 2019 and beyond. ...»

The oil price is now controlled by just three men

OPEC has lost what control of the oil market it ever had. The actions (or tweets) of three men — Presidents Donald Trump and Vladimir Putin and Crown Prince Mohammed Bin Salman — will determine the course of oil prices in 2019 and beyond. ...»

ACCC clears way for Quadrant Energy acquisition

Santos announced on 22 August 2018 the proposed acquisition of 100% of Quadrant Energy (Quadrant) for $2.15 billion, plus potential contingent payments. ...»

Santos Shell JV wins Queensland domestic gas acreage

Santos is pleased to have been appointed as preferred tenderer to explore new acreage in Queensland’s key gas-producing Surat and Bowen Basins, in a 50-50 joint venture with Shell. ...»

Anadarko announces leadership changes

Anadarko Petroleum Corporation has announced Bob Gwin, formerly executive V.P., finance and CFO, has been named president. ...»

Conoco enters into exclusive talks to sell U.K. assets to Ineos

ConocoPhillips is in exclusive talks to sell its U.K. oil and gas fields, said to be valued at as much as $3 billion, to British billionaire Jim Ratcliffe’s Ineos Group. ...»

PetroTal announces increased production from Bretaña field, operations update

PetroTal Corp. is pleased to announce that it has successfully increased oil production from the Bretaña Norte discovery well at Bretaña field in Block 95, Peru. ...»

Canadian crude rallies as U.S. demand and rail shipments rise

Canadian heavy crude prices rallied Friday as U.S. refinery demand rises and increased volumes are shipped by rail car. ...»

PetroTal announces encreased production from Bretaña field, operations update

PetroTal Corp. is pleased to announce that it has successfully increased oil production from the Bretaña Norte discovery well at Bretaña field in Block 95, Peru. ...»

Jumbo wins transportation and installation contract for the Leviathan development

Technip is preparing for a project, including a subsea production system connecting high-rate subsea wells to a fixed platform, located approximately 6.21 mi offshore Israel. ...»

Canadian energy sector losing patience with the country’s lack of support

The plunge in global crude prices is being exacerbated in Canada by a lack of pipeline capacity, sending the country’s oil prices to a near record discount to the U.S. and energy stocks reeling. ...»

Total signs MoU with Papua New Guinea for LNG project

Total and its partners ExxonMobil and Oil Search have signed a Memorandum of Understanding (MoU) with the Independent State of Papua New Guinea defining the key terms of the gas agreement for the Papua LNG Project. ...»

Oil rises, paring sixth weekly loss on expectation of OPEC cuts

Oil rose, paring a sixth weekly loss, amid growing confidence that OPEC and its partners will reduce production to avert a glut next year. ...»

Heavy Canadian crude falls to record low

Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts. ...»

Cairn offers a UK Norway update, discovery and farm out

Based on preliminary analysis, the Operator estimates the Agar-Plantain discovery holds recoverable resources of 15 MMbbl to 50 MMbbl. ...»

Scottish-American start-up Ziyen Inc. moves into oil production

Scottish-American oil and energy company Ziyen Inc., which has operations in Aberdeen, has achieved first oil as it prepares to enter a new round of funding. ...»

Faroe reports successful Agar/Plantain exploration well

Faroe Petroleum is pleased to announce a successful result with the Agar/Plantain exploration and appraisal well in license P1763, located in the UK Continental Shelf. ...»

DNV GL: Continuing demand growth for Middle East and North Africa oil and gas

The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century ...»

Rystad: Middle East driving global growth in conventional oil output

Middle Eastern oil production is expected to grow by 2.7 MMbpd by 2025, according to latest Rystad Energy analysis. ...»

Middle East driving global growth in conventional oil output

Middle Eastern oil production is expected to grow by 2.7 MMbpd by 2025, according to latest Rystad Energy analysis. ...»

BHGE and GE announce a series of long-term agreements

BHGE and GE jointly agreed to amend their commercial and technological relationships. ...»

Offshore reserves could provide $1.6 billion in tax revenues for South Carolina

The South Carolina Petroleum Council has released a new study showing its economy could benefit from nearly $1.6 billion in tax revenues as a result of offshore leasing in the Atlantic OCS. ...»

Offshore natural gas and oil reserves could provide billions of dollars in revenue for South Carolina

The South Carolina Petroleum Council has released a new study showing its economy could benefit from nearly $1.6 billion in tax revenues as a result of offshore leasing in the Atlantic OCS. ...»

Nissan Chemical's nanoActiv EFT increases initial oil and gas production

Nissan Chemical America Corporation (NCA) introduces enhanced flowback technology (EFT) to complement its existing line of nanoActiv products. ...»

Gardner Denver expands water jetting systems rental program

Gardner Denver Petroleum and Industrial Pumps is pleased to introduce Fluid Transfer Technology of Barberton, Ohio, and O’Connell Jetting of Benicia, California, as the newest members of the rental partnership program for Gardner Denver. ...»

James Baker named global co-head of Piper Jaffray

Piper Jaffray Companies has named James Baker as global co-head of investment banking and capital markets. ...»

Energy CEOs despair in Canada as pipeline woes compound misery

The Canadian oil patch is losing patience with the country’s lack of support for the industry. ...»

James Baker named global co-head of Piper Jaffray investment banking, capital markets

Piper Jaffray Companies has named James Baker as global co-head of investment banking and capital markets. ...»

James Baker named as global co-head of Piper Jaffray investment banking and capital markets

Piper Jaffray Companies has named James Baker as global co-head of investment banking and capital markets. ...»

Azinor catalyst well success promising proof of industry approach

Oil and Gas UK has praised news that Azinor Catalyst has struck oil at Agar-Plantain as promising proof of industry’s competitive approach to exploration activity. ...»

McDermott wins contract for GOM field development

McDermott was awarded a contract for concept and engineering services for Talos Energy for the Zama field. The development is the first offshore Mexico block awarded to a private operator. The contract is for engineering services, including concept selection and follow-on pre-FEED. ...»

Putin says $70 crude suits Russia fine

President Vladimir Putin said he discussed the price of oil with U.S. counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices. ...»

Citi says oil's record plunge is a U.S. phenomenon

American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market. ...»

Oil and gas diverge as inventories move in different directions

Crude oil and natural gas prices are moving in opposite directions, with traders in both markets spooked by inventories. ...»

Cheniere bets $15 billion on world gas demand despite tariff

A Cheniere LNG manager climbs metal steps under a blazing sun until he’s standing atop a 180-ft-high tank in Corpus Christi, Texas. It’s big enough, he proudly points out, to hold a jumbo jet placed diagonally. ...»

Repsol to re-use existing North Sea platform

Oil companies have pushed through draconian cost cuts during the recent industry slump, but they’re not done yet. ...»

Conoco considering North Sea asset sale by year end

ConocoPhillips plans to invite bids by the end of the year for its remaining North Sea assets, which could be valued at up to $3 billion in a sale, according to people with knowledge of the matter. ...»

Packers Plus creates the Toe-XT Hydraulic Sleeve, replacing two tools

The latest innovation from Packers Plus Energy Services Inc. brings simplicity and reliability to operators for stimulating the first stage of oil and gas wells. ...»

Faroe-operated rungne exploration well results show good, bad

Faroe Petroleum has announced the results of the Faroe-operated Rungne exploration well 30/6-30 in the Norwegian North Sea. ...»

Canada’s oil industry to spar over forced output cuts

Canada’s oil sector is divided over whether to force a temporary cut to production, with some major producers pushing the controversial idea in a bid to ease a supply glut and halt a steep plunge in prices, according to seven people familiar with the matter. ...»

U.S. shale boom lowered trade deficit by $250 billion

The boom in U.S. oil and gas production over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping reduce the country’s net petroleum imports, a new report by business information provider IHS Markit says. ...»

Golden Software enhances 3D data visualization in Surfer 16

Golden Software, a developer of affordable scientific graphics software, has enhanced the visualization capabilities in version 16 of its Surfer gridding, contouring and 3D surface mapping package. ...»

ADNOC to invest $1.4 billion to upgrade Bu Hasa Field

he Abu Dhabi National Oil Company (ADNOC) has announced a $1.4 billion investment to upgrade and expand its Bu Hasa field, which will increase crude oil production capacity to 650,000 bpd. ...»

ADNOC to extend long-term gas supply agreement for LNG production

The Abu Dhabi National Oil Company (ADNOC) has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total. The new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire on March 31, 2019. ...»

Penspen secures $70 million contract with ADNOC Onshore

Penspen, a leading global provider of engineering and project management services to the energy industry, has been awarded a contract by Abu Dhabi National Oil Company (ADNOC) Onshore, with a value exceeding $70 million. ...»

Lukoil drilled its second well in Yury Kochagin field

PJSC LUKOIL completed the construction of the second production well from the wellhead platform at the Yury Korchagin field in the Caspian Sea. ...»

Lukoil drilled the second well in the eastern part of the Yury Kochagin field

PJSC LUKOIL completed the construction of the second production well from the wellhead platform at the Yury Korchagin field in the Caspian Sea. ...»

OPEC will cut output as required to stabilize market

OPEC will cut or adjust production as needed to balance the market, the group’s president, UAE Energy Minister Suhail Al Mazrouei, said Wednesday. ...»

Natural gas soars 20% in U.S. on concerns about winter supplies

Natural gas soared the most in nine years as forecasts for lingering U.S. cold spurred concern that supplies may not be adequate to meet demand over the winter. ...»

Crude crash will test majors’ devotion to spending discipline

For more than a year, the world’s biggest oil companies have been saying that by keeping a tight rein on spending today, they’ll be fortified against the next crude-price collapse. What they didn’t expect was for that caution to pay off so soon. ...»

ExxonMobil drillship on location - Cyprus Block 10

The Stena Icemax drillship has arrived on location in Cyprus’ offshore Block 10, and is preparing to bore down into the seabed, Energy Minister Giorgos Lakkotrypis said, early this week. ...»

Exxon drillship on location - Cyprus Block 10

The Stena Icemax drillship has arrived on location in Cyprus’ offshore Block 10, and is preparing to bore down into the seabed, Energy Minister Giorgos Lakkotrypis said, early this week. ...»

Unique Group and Innovo complete decommissioning project in the Middle East

Unique Group, one of the world’s leading integrated subsea and offshore solution providers, together with Innovo, an engineering, construction and equipment rental company, have successfully completed a multi-million dollar decommissioning contract for Italian global marine, oil and gas contractor, Saipem, on a key offshore platform in the Middle East region. ...»

Unique Group and Innovo complete decommissioning project in the Middle East

Unique Group, one of the world’s leading integrated subsea and offshore solution providers, together with Innovo, an engineering, construction and equipment rental company, have successfully completed a multi-million dollar decommissioning contract for Italian global marine, oil and gas contractor, Saipem, on a key offshore platform in the Middle East region. ...»

Fluor JV creates one of the world's largest plant designs for megaproject in Kazakhstan

Fluor Corporation has announced that its JV team, KPJV, has developed one of the world’s largest, single 3D intelligent plant design models for Tengizchevroil LLP’s future growth project. ...»

President Energy shares positive Argentina outlook

President Energy provides an update on its business in Argentina and in particular the Puesto Flores/Estancia Vieja Concession, Rio Negro Province. ...»

The Israeli Energy Minister announces Israel’s 2nd offshore bid round

Israel has announced the launching of its second bid round to grant exploration licenses for natural gas and oil in Israel’s economic waters, in the Eastern Mediterranean ...»

Paradigm Group expands with Offices in China and the Middle East

Paradigm Group, the global Dutch innovation and technology company, for the upstream oil and gas industry, has recently opened offices in both China and the Middle East to cater for an increase in international sales and service demand. ...»

ADNOC signs ultra-sour gas concession with Eni

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project. ...»

ADNOC signs ultra-sour gas concession Eni

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project. ...»

Wood awarded multimillion dollar contract extension for Upper Zakum project

Wood has secured a mult-imillion dollar contract extension from ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), for services to the the UZ750 mega project offshore Abu Dhabi. ...»

ADNOC signs framework agreement with Uzbekistan gas producer

ADNOC signed a framework agreement with Uzbekneftegaz, a joint stock company of Uzbekistan's oil and gas industry, under which ADNOC will provide strategic advice in relation to upstream and downstream operations. ...»

ADNOC CEO says oil and gas industry a critical enabler of economic growth

The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and group CEO, ADNOC. ...»

ADNOC signs First Hail, Ghasha and Dalma ultra-sour gas concession with Italy’s Eni

The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project. ...»

Wood awarded multimillion dollar contract extension for Upper Zakum oil field project

Wood has secured a mult-imillion dollar contract extension from ADNOC Offshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), for services to the the UZ750 mega project offshore Abu Dhabi. ...»

ADNOC signs framework agreement with Uzbekistan gas producer Uzbekneftegaz

ADNOC signed a framework agreement with Uzbekneftegaz, a joint stock company of Uzbekistan's oil and gas industry, under which ADNOC will provide strategic advice in relation to upstream and downstream operations. ...»

Chevron, Exxon Mobil mulling bids for Endeavor Energy

Chevron and Exxon Mobil are among the companies considering first-round bids this month for closely held oil producer Endeavor Energy Resources. ...»

Shale oil's good, but it's not here to stay

U.S. shale may be the darling of the oil industry right now, but the boom isn’t going to last, according to the International Energy Agency. ...»

OPEC sees demand for its crude declining as rivals surge

OPEC sees demand for its own crude falling even faster than expected in 2019 as a slowing global economy crimps demand and rival supplies surge. ...»

Canadian oil pain sparks call for government-backed output cut

The pipeline bottlenecks that have strangled Canadian crude prices have at least one major energy producer calling for oil-rich Alberta to mandate output reductions. ...»

Abu Dhabi signals global ambition with 2 MMbbl oil hike

Abu Dhabi signaled its ambitions to send more oil and gas around the world as it woos investors to fields at home and hunts for assets abroad. ...»

Trump criticizes Saudi Arabia for plan to reduce oil production

President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally. ...»

ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address

The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and Group CEO, ADNOC. ...»

Oil halts record losing streak as Saudis advocate supply cuts

Oil climbed the most in 2 1/2 weeks, halting an unprecedented decline, as Saudi Arabia pledged to curb output and urged allied crude producers to follow suit. ...»

Saudis see need for major supply cut amid fears of glut

Saudi Arabia said OPEC and its allies should reverse about half the increase in oil output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices. ...»

Trump reprimands Saudi Arabia for plan to reduce oil production

President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally. ...»

Trump blasts Saudi Arabia for plan to reduce oil production

President Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally. ...»

Tidewater chooses UniSea to digitalize and standardize business processes

UniSea AS has been selected by Tidewater Inc as their partner in the digitalizing and standardizing of Tidewater’s business processes related to HSEQ and operations. ...»

Simmons advises Motley Services, LLC through $148 million aquisition

Motley Services, LLC, a portfolio company of District 5 Investments, LP (D5), has been acquired by KLX Energy Services Holdings, Inc. for $148.2 million ...»

ABB wins $79 million order for Bab onshore project in Abu Dhabi

ABB wins $79 million order for Bab onshore project in Abu Dhabi. ...»

Fluid Delivery Solutions, LLC appoints executive chairman

Fluid Delivery Solutions, LLC has appointed Richard “Dick” J. Alario as executive chairman of the board of directors. ...»

ADNOC and Saudi Aramco sign framework agreement on strategic natural gas and LNG cooperation

ADNOC signed a framework agreement with Aramco to explore potential opportunities for collaboration in the natural gas and LNG sectors. ...»

Empyrean Energy assesses China’s Pearl River Mouth basin prospects

Empyrean Energy is pleased to announce that Gaffney, Cline and Associates has completed its independent audit of the company’s oil-initially-in-place estimates over the Jade, Topaz and Pearl. ...»

Rockhopper Exploration produces commercial volumes of oil from Bahariva formation

Rockhopper Exploration plc has provided the following operational and corporate update in relation to its Egyptian portfolio. ...»

Wood secures $53 million of contracts supporting ADNOC Onshore

Wood has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC). ...»

A milestone for energy governance as South Africa joins IEA family

HE Minister Jeff Radebe, minister of energy of the Republic of South Africa, and Dr. Fatih Birol, executive director of the International Energy Agency, jointly announced South Africa’s decision to join the IEA as an association country. ...»

Weatherford unveils technology to transform well construction

Weatherford International plc has introduced Vero automated connection integrity, which applies artificial intelligence to minimize safety risks and validate well integrity with absolute certainty. ...»

Canada's oil patch feels double pain with cuts, price collapse

Canada’s oil producers can’t catch a break. Even as local production cuts help alleviate pipeline bottlenecks, heavy crude plunged below $18/bbl for the first time since 2016 -- dragged down by global oil prices. ...»

In OPEC heartland, billions spent to boost oil output

OPEC members are considering cutting production, but in the group’s Middle East heartland producers are spending billions to add output capacity for the long term. ...»

Shale cash gusher sees EOG join $1 billion-a-quarter club

The well-heeled, buttoned-down world of international oil now has competition from cowboy boots and jeans. ...»

Canada’s Trinidad Drilling offers robust fourth-quarter outlook

In releasing and summarizing its third-quarter 2018 results on Friday, Calgary-based Trinidad Drilling offered a rather robust outlook for the fourth quarter. ...»

Apache founder and former CEO Raymand Plank dies at 96

Houston-based Apache Corporation confirmed to various wire services that its Founder and former Chairman, Raymond Plank, died Nov. 8 at his Wyoming home, at the age of 96. ...»

Global oil and gas leaders discuss evolving energy landscape

Twenty-six of the world’s leading oil and gas sector leaders gathered in Abu Dhabi on Sunday, for a high-level industry forum focused on the evolving dynamics of the energy landscape, and the opportunities for hydrocarbon-produced energy to support global growth, today, and in the future. ...»

Amid Iranian oil waiver, U.S. - China talks divided before Trump-Xi meeting

The U.S. secretaries of state and defense met with their Chinese counterparts for an annual strategy session in Washington on Friday, with both sides highlighting deep differences on diplomacy and security weeks before Presidents Donald Trump and Xi Jinping plan to meet at a summit in Argentina. ...»

OPEC, allies move closer to oil cuts as bear market adds urgency

OPEC and its allies started laying the groundwork to cut oil supply in 2019, reversing an almost year-long expansion, with Saudi Arabia reasserting its role as swing producer by announcing fewer shipments from next month. ...»

Total inaugurates the Kaombo project and reiterates its commitment to Angola

The Angolan State Minister for Economic and Social Development, Manuel Nunes Junior, the Chairman and CEO of Total, Patrick Pouyanné, and the Chairman of the Board of Directors of Sonangol, Carlos Saturnino, inaugurated the Kaombo project ...»

Angola: Total inaugurates the Kaombo project and reiterates its commitment to the country

The Angolan State Minister for Economic and Social Development, Manuel Nunes Junior, the Chairman and CEO of Total, Patrick Pouyanné, and the Chairman of the Board of Directors of Sonangol, Carlos Saturnino, inaugurated the Kaombo project ...»

Angola: Total inaugurates the Kaombo project and reiterates its commitment to the country with new investments

The Angolan State Minister for Economic and Social Development, Manuel Nunes Junior, the Chairman and CEO of Total, Patrick Pouyanné, and the Chairman of the Board of Directors of Sonangol, Carlos Saturnino, inaugurated the Kaombo project ...»

ADNOC signs agreement granting Total a 40% stake in unconventional gas concession

ADNOC has signed an agreement with Total, granting it a 40% stake in the Ruwais Diyab Unconventional Gas Concession. ...»

HPHT 2018: Industry and BSEE work together to further U.S. offshore development

Recently, at World Oil’s HPHT Drilling, Completion and Production Conference, National Ocean Industries Association (NOIA) President Randall Luthi said in a keynote address that his Washington, D.C.-based lobbying group is committed to providing the oil and gas industry with reliable access to the nation’s government officials. He stressed that NOIA strives to ensure fair regulatory and economic environments for offshore operators. ...»

Oil's rapid run of declines kicks up pressure as OPEC gathers

It’s all eyes on OPEC as U.S. oil prices fell for 10 consecutive days, wiping out any gains for the year. ...»

U.S.-China talks highlight deep divide before Trump-Xi meeting

The U.S. secretaries of state and defense met with their Chinese counterparts for an annual strategy session in Washington on Friday, with both sides highlighting deep differences on diplomacy and security weeks before Presidents Donald Trump and Xi Jinping plan to meet at a summit in Argentina. ...»

Iran vaults up Erdogan's Trump agenda as oil waiver disappoints

The Trump administration’s sanctions on Iran are the latest irritant in relations between Turkey and the U.S. even as the two NATO allies move past their worst diplomatic crisis in decades. ...»

Saudi think tank studying hypothetical world without OPEC

A Saudi think tank is studying what happens to oil markets in a world without OPEC. ...»

Senegal targets bigger royalties, stakes in new oil code

Senegal is considering raising royalties and taking a bigger stake in oil and natural gas projects as part of the West African nation’s overhaul of its oil code, according to a document obtained by Bloomberg. ...»

Canadian fracer rivalry heating up amid plunging share prices

The outlook for Canadian fracing companies is up in the air. ...»

Keystone XL's decade-long slog toward reality just got longer

TransCanada Corp.’s $8 billion Keystone XL pipeline may face another eight months of delay after a court ruling raised issues with a 4-year-old environmental review. ...»

Oil teeters near record losing streak after entering bear market

Oil touched the lowest level since February as it headed for the longest losing streak on record. ...»

Tech, oil bear market drop U.S. stocks; bonds rise; markets wrap

U.S. stocks fell amid a fresh batch of weak earnings from the technology sector and concern that a bear market in oil prices may mean trouble for the economy. ...»

Ampelmann opens new office in Dubai, and appoints Tim Mulders as business developer

Ampelmann, the global leader in offshore access solutions, has opened its second office in the Middle East in a move to further expand its presence in the region. ...»

Alexey Miller and Germany’s Minister for Economic Affairs and Energy Peter Altmaier discussed cooperation issues

A Gazprom delegation headed by Alexey Miller, chairman of the company’s management committee, paid a working visit to the Federal Republic of Germany. ...»

EIA: New Gulf of Mexico projects expected to reverse gas production declines

Natural gas production in the U.S. Federal Gulf of Mexico (GOM) has been declining for almost two decades. EIA expects nine new natural gas production projects to start in 2018 and another seven to start in 2019. ...»

Topaz signs long-term agreement with Reach Subsea

Topaz Energy and Marine, a leading offshore marine logistics company has signed a long-term agreement with Reach Subsea under which Reach will charter the newbuild subsea vessel, Topaz Tiamat. ...»

Longest oil slump in four years signals growing worldwide surplus

Oil notched its longest losing streak in four years as expanding U.S. stockpiles overshadowed supply concerns from the Persian Gulf to Latin America. ...»

Russian oil may gain a lot by giving a little on OPEC U-turn

Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise. ...»

Norway oil, gas terminals shut after tanker collides with ship

The operators of the Sture oil terminal and the Kollsnes gas processing plant shut down the facilities on Norway’s west coast on Thursday as a precautionary measure after a crude tanker collided with a military vessel nearby. ...»

OHH Permian Basin Chapter to host first meeting under new leadership

Oilfield Helping Hands (OHH), a non-profit organization that helps oilfield families in financial crisis, will hold its first Permian Basin Chapter meeting under new leadership. ...»

Aquaterra Energy secures another Johan Sverdrup win

Aquaterra Energy, a leader in global offshore engineering solutions, has today been awarded a contract by Equinor to deliver early well construction operations for the next sixteen wells of the Johan Sverdrup field development. ...»

PetroNeft reports drilling results at Cheremshanskoye field, Russia

PetroNeft has announced that cased-hole testing of the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in Licence 67 has confirmed the excellent results from the open-hole testing reported on Aug. 28. ...»

PetroNeft reports drilling results at Cheremshanskoye field, Russia

PetroNeft has announced that cased-hole testing of the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in Licence 67 has confirmed the excellent results from the open-hole testing reported on Aug. 28. ...»

Exxon's $2 billion Canada move shows confidence when others flee

Two years after Exxon Mobil removed billions of bbl of oil-sands crude from its reserves, its Imperial Oil unit is investing again, saying low Canadian crude prices make it a perfect time to build. ...»

Iran sanctions may not cause oil shortage, Nigeria minister says

U.S. sanctions on Iran won’t necessarily translate into a global shortage of oil, according to Nigerian Petroleum Minister Emmanuel Ibe Kachikwu. ...»

Trump says "fragile" oil market behind decision on Iran waivers

President Donald Trump said the “fragile” global oil market was a key reason his administration decided to extend waivers this week to eight countries allowing them to continue importing Iranian oil in violation of new U.S. sanctions. ...»

Colorado oil producers rise as voters reject drilling limits

Colorado oil producers rise as voters reject drilling limits ...»

South Sudan oil outlook hinges on shaky peace deal, WoodMac says

South Sudan’s optimism about restoring oil output to 350,000 bpd depends on the success of a recent peace deal and both are unlikely, according to Wood Mackenzie Ltd. ...»

End is near for "frac holiday" as Permian readies for 2019 boom

The oil fields of West Texas don’t sit still for long. ...»

Croatia launches second onshore license round

Croatia has launched the country’s second onshore license round offering seven onshore blocks all located in Croatia’s prolific Pannonian basin. This is the second of three planned onshore license rounds. ...»

Vantage to acquire Williston basin assets from QEP Resources

Vantage Energy Acquisition Corp. has announced that it has entered into definitive agreements with QEP Energy Company to acquire the entirety of QEP’s Williston basin assets in North Dakota and Montana. ...»

Vantage Energy Acquisition Corp. to acquire Williston basin assets from QEP Resources

Vantage Energy Acquisition Corp. has announced that it has entered into definitive agreements with QEP Energy Company to acquire the entirety of QEP’s Williston basin assets in North Dakota and Montana. ...»

Wood, Nobel Oil enter engineering and support JV in Azerbaijan

Wood and Nobel Oil have entered into a joint venture (JV) agreement to provide engineering and operations support services to the oil and gas market in Azerbaijan. ...»

Ashtead signs global master lease agreement with Oceaneering

Independent provider of subsea equipment rental, sales and services to the offshore industry, Ashtead Technology Limited has announced that it has secured a global master lease agreement with a wholly-owned subsidiary of global oilfield services provider, Oceaneering International Inc. ...»

Spirit of Colorado applauds defeat of Proposition 112

Spirit of Colorado, an independent expenditure committee tasked with defending Colorado’s economic well-being, tonight delighted in the defeat of Proposition 112, the job-killing “setbacks” measure, which would have ended oil and gas development in Colorado. ...»

China's Canadian oil binge to wind down as U.S. refiners ramp up

China is finally getting a taste of Canadian crude, if only for a couple of months. ...»

Election Day Special: Lion’s share of U.S. oil output comes from Trump states

Today, Nov. 6, voters across the United States got to the polls to elect a wide assortment of federal, state and local officials. Given the potential for shifts in balances-of-power, much is at stake on a variety of issues and policies, including those affecting oil and gas. ...»

Exxon chief says size doesn't matter in potential MandA deals

The world’s biggest public energy company doesn’t worry about size when it comes to potential deal-making. ...»

OMNIS partnership announces opening of Madagascar License Round

In the framework of the development of Madagascar's oil and gas potential, the Malagasy State through OMNIS continues to promote projects that attract new private investment in the short, medium and long term. OMNIS, together with TGS and BGP, has worked to create an attractive environment for offshore exploration. ...»

South Africa joins IEA as association country

South Africa today joined the International Energy Agency as an Association country, bringing one of the most dynamic countries on the African continent into the IEA family, and giving a major boost to global energy governance. ...»

Chevron names presidents of North America, Asia Pacific EandP

Chevron Corporation has named Steven W. Green as president of Chevron North America Exploration and Production, effective March 1, 2019. ...»

Teledyne CARIS releases enhanced tools for lidar surveys

Teledyne CARIS has announced the release of Bathy DataBASE 5.2, which introduces enhanced tools for validating and creating chart features from lidar surveys, as well as new bathymetry compilation techniques. ...»

Fugro, L3 ASV partner to develop next-generation autonomy

Fugro has signed a joint development agreement with L3 ASV, a leader in the field of unmanned and autonomous vessel technology, to create the next generation of autonomous vessels for the commercial survey market. ...»

Crude could touch $100/bbl if supply crunch worsens

Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup. ...»

Iraq to boost oil sales to China by 60%

Iraq aims to supply China with 60% more crude next year, according to the head of the state-run Oil Marketing Co. ...»

Africa enjoys oil boom as drilling spreads across the continent

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. ...»

Kreuz Subsea, Seamec consortium mobilize Kreuz Glorious for two-year ONGC project

Global integrated subsea services business, Kreuz Subsea and consortium partner Seamec Ltd, have successfully completed the mobilization of the Kreuz Glorious vessel to commence a two-year project with India’s Oil and Natural Gas Corporation (ONGC). ...»

Welcome to pipelines on wheels as LNG giant turns to trucks

Natural gas is in such hot demand in China right now it’s allowing a quirky market to flourish: transporting the fuel on trucks. ...»

Halliburton CEO expects Permian bottlenecks gone by end of 2019

Halliburton expects bottlenecks in America’s busiest oil field to be relieved by the end of next year. ...»

SPC approves ADNOC’s 2019-2023 business plan, $132.33 billion CAPEX

Abu Dhabi’s Supreme Petroleum Council (SPC) approved, the Abu Dhabi National Oil Company’s (ADNOC) new integrated gas strategy and plans to increase its oil production capacity to 4 MMbpd at the end of 2020 and 5 MMbpd by 2030. ...»

Supreme Petroleum Council approves ADNOC’s 2019-2023 business plan and $132.33 billion CAPEX to deliver growth across value chain

Abu Dhabi’s Supreme Petroleum Council (SPC) approved, the Abu Dhabi National Oil Company’s (ADNOC) new integrated gas strategy and plans to increase its oil production capacity to 4 MMbpd at the end of 2020 and 5 MMbpd by 2030. ...»

Danos secures contract for Shell's Ursa platform

Danos announced today that Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell plc, has awarded a contract to Danos for the coatings maintenance campaign for the Ursa tension leg platform (TLP). ...»

Kreuz Subsea and Seamec consortium mobilize Kreuz Glorious for two-year ONGC project

Global integrated subsea services business, Kreuz Subsea and consortium partner Seamec Ltd, have successfully completed the mobilization of the Kreuz Glorious vessel to commence a two-year project with India’s Oil and Natural Gas Corporation (ONGC). ...»

Total, Sempra Energy sign MOU for development of North American LNG export projects

Sempra Energy and Total S.A. have announced that they have entered into a Memorandum of Understanding (MOU) that provides the framework for cooperation in the development of North American liquefied natural gas (LNG) export projects. ...»

Equatorial Guinea is said to expect $2.4 billion oil investment

Equatorial Guinea expects oil companies to spend $2.4 billion on the nation’s oil and gas industry by the end of next year. ...»

Saudis raise some Asia crude pricing as U.S. sanctions Iran oil

Saudi Arabia raised pricing for the crudes it sells to Asia, a sign that OPEC’s biggest producer sees robust demand as it boosts output to offset the impact of sanctions on Iran. ...»

Al-Kaabi takes helm of Qatar energy policy

Saad Sherida Al-Kaabi was appointed minister of state for energy issues and vice chairman of Qatar Petroleum after 32 years at the company. ...»

Encana founder blames Trudeau for Newfield deal, U.S. focus

Encana’s founder Gwyn Morgan said he’s disappointed by the $5.5 billion purchase of Newfield, which dashes his hopes that the company would represent Canada on the world stage. ...»

Iraq's Kurds add pipeline capacity to export Kirkuk oil

Iraq’s semi-autonomous Kurds upgraded their oil export pipeline to accommodate future production from their region and from the contested Kirkuk area controlled by Baghdad. ...»

Majors churn out cash and give it back to investors

Oil companies saw soaring profits during the third quarter. The main takeaway is that while results are above or in line with expectations. ...»

Oilfield Helping Hands to partner with BJ Services

Oilfield Helping Hands (OHH), a non-profit organization that helps oilfield families in financial crisis, announces a new partnership with BJ Services’ Team BJ Foundation. ...»

Siemens completes shallow water test of subsea power grid

Siemens has successfully concluded the first phase of its subsea power grid shallow water test in Trondheim, Norway. ...»

Weatherford completes sale of Kuwait land drilling rigs

Weatherford has completed the sale of its land drilling operations in Kuwait to ADES International for $135 million. ...»

Iranian oil sanctions set to kick in

Midnight on Sunday, Nov. 4 will mark a dividing line in the world of oil. Beyond that point, anyone unloading a tanker from Iran risks the full wrath of the U.S. government. ...»

U.S. said to give eight nations waivers under Iran sanctions

The U.S. has agreed to let eight countries keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5. ...»

Oil slides to six-month low as supply fears subside

Oil fell to a six-month low as the U.S. softened its crackdown on Iranian exports and American supplies surged, assuaging fears of an impending shortage. ...»

Colorado drilling clash vote too close to call

A ballot measure that could curb oil and gas development in Colorado has attracted attention from some heavyweight names, including former Denver Broncos quarterback John Elway. ...»

Canadian oil producers look past grim days to brighter future

Canadian oil producers are suffering from the worst domestic glut in a decade. ...»

Chevron doubles profit as record production meets oil price increase

Chevron reported third-quarter profit doubled from a year earlier as production increases met rising oil prices. ...»

Exxon beats estimates with production boost from Permian basin

Exxon Mobil beat estimates for the third quarter, ending a series of disappointing results that have underscored the company’s need to rebuild its oil production business unit. ...»

Exxon beats estimates with production boost from Permian

Exxon Mobil beat estimates for the third quarter, ending a series of disappointing results that have underscored the company’s need to rebuild its oil production business unit. ...»

Russian oil output nears all-time high with October ramp-up

Russian oil production moved closer to an all-time high before the nation meets with OPEC partners to discuss future supply. ...»

U.S. said to give eight nations oil waivers under Iran sanctions

The U.S. has agreed to let eight countries keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5. ...»

Wartsila acquires Spanish Burriel Navarro

The technology group Wärtsilä has acquired Burriel Navarro, S.L, a company operating in underwater services in the main ports of Spain. ...»

KG basin will play crucial role in India natural gas move

At a time when production at traditional offshore assets on the west coast is set to decline over the next decade, the upcoming deepwater and ultra-deepwater projects in the Krishna-Godavari (KG) basin at the Bay of Bengal will play a crucial role in India’s move towards a natural gas-based economy. ...»

KG basin will play cruicial role in India natural gas move

At a time when production at traditional offshore assets on the west coast is set to decline over the next decade, the upcoming deepwater and ultra-deepwater projects in the Krishna-Godavari (KG) basin at the Bay of Bengal will play a crucial role in India’s move towards a natural gas-based economy. ...»

Polarcus awarded 3D project in West Africa

Polarcus Limited has received an award for a 3D marine seismic acquisition project in West Africa. ...»

Equinor has awarded jacket contract to Kvaerner for $108 million

Equinor and the Johan Sverdrup licence have awarded a jacket contract for the processing platform for Johan Sverdrup phase 2 to Kværner. ...»

Emerson upgrades reservoir engineering suite

Emerson has announced the release of Roxar Tempest 8.3, its integrated reservoir engineering suite that offers tools for advanced reservoir management and flow simulation. ...»

Emerson upgrades reservoir engineering suite

Emerson has announced the release of Roxar Tempest 8.3, its integrated reservoir engineering suite that offers tools for advanced reservoir management and flow simulation. ...»

OPEC output climbs to highest since 2016 on Saudi, Libyan gains

OPEC’s crude production inclimbed to the highest level since 2016 as increases by Saudi Arabia and Libya offset losses stemming from impending U.S. sanctions on Iran. ...»

JFE-CA and JFE-TC open new RandD lab in Houston

JFE Connections America and JFE Technical Center are pleased to announce the opening of our new research and development lab in North Houston, at 6415 N. Sam Houston Pkwy W., Houston, Texas 77086. ...»

Shell sets the bar high amid "impressive" cash boom

Oil is trading well below its price of a decade ago, but you’d have no idea looking at Royal Dutch Shell Plc’s giant pile of cash. ...»