KUFPEC acquires Total's interest in Gina Krog for $317 million

Kuwait Foreign Petroleum Exploration Company k.s.c. (KUFPEC) announced today that its wholly-owned subsidiary KUFPEC Norway AS has reached agreement to acquire a 15% interest in the Gina Krog field from Total EandP Norge AS. ...

Total starts production at Edradour and Glenlivet fields, West of Shetland

Total has announced start-up of production from the Edradour and Glenlivet gas and condensate fields, located in about 300 to 435 m of water in the West of Shetland area, close to Laggan-Tormore fields, which came on stream in February 2016. ...

Venezuela offers $5 million to aid Harvey victims via Citgo

Venezuela, still reeling from a fresh round of U.S. sanctions that make it harder to raise financing in capital markets, offered $5 million to help victims of Hurricane Harvey in parts of Texas through its subsidiary Citgo Petroleum Corp. ...

Largest U.S. refiner shutting as Harvey hits fuel-making hub in Louisiana

Harvey’s second landfall, hitting southwest Louisiana near the Texas border, expanded the growing list of damaged oil refineries, shutting down two key plants, including America’s largest. ...

Pantheon Resources provides update following suspended operations in Texas

Pantheon Resources plc, the AIM-quoted oil and gas exploration company with a working interest in several conventional projects in Tyler and Polk Counties, onshore East Texas, is providing an operational update following the sustained period of extreme weather in Texas. ...

Energean recieves FDP approval for Karish and Tanin fields, offshore Israel

Energean Oil and Gas has announced that its subsidiary, Energean Israel, a 50/50 JV between Energean and Kerogen Capital, has received approval from the Israeli Petroleum Commissioner for its Field Development Plan (FDP) for the development of the Karish and Tanin natural gas fields, offshore Israel. ...

Baker Hughes secures second major contract for Eni's Coral South FLNG

Baker Hughes, a GE company (BHGE), has announced a second major contract for Eni East Africa’s (EEA) Coral South FLNG development, offshore Mozambique, underlining the company’s position as the world’s first and only integrated fullstream provider of products, services and digital solutions that maximize productivity, efficiency and cost reduction. ...

Storm Harvey's impact on oil markets

While Corpus Christi, Texas, refineries prepare to restart as the storm shifts, several plants in the Port Arthur and Beaumont areas are under threat, pushing gasoline futures to the highest in two years. ...

Gazprom losing hope for dividend boost as ruble hurts profit

Gazprom PJSC’s profit slumped in the last quarter, cooling the prospect of an increased dividend from the world’s largest natural gas producer. ...

Libya's central bank issues revenue warning over oil disruption

Libya’s central bank said recent disruption had slashed production by around 350,000 bpd, while unrest and shutdowns over the past three years have cost the OPEC member more than $160 billion in direct and indirect losses. ...

CGG starts Espirito Santo IV survey offshore Brazil

CGG announces the start of work on Espirito Santo IV, a large BroadSeis 3D multi-client survey in the deep and ultra-deep waters of the Espirito Santo basin offshore Brazil. ...

Exxon Mobil increases Hurricane Harvey relief support to $1 million

Exxon Mobil Corp. announced today that it is has increased to $1 million its support for relief and recovery efforts in Houston and other Gulf Coast communities impacted by Hurricane Harvey. ...

Trelleborg supplies Smartport solution to Prelude FLNG

Trelleborg’s marine systems operation has supplied a suite of products to Shell’s Prelude FLNG facility, the largest offshore facility ever constructed. ...

TechnipFMC awarded EPCI contract for the Husky Energy West White Rose project in Canada

TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract from Husky Energy for the West White Rose Project in Eastern Canada. ...

Faroe Petroleum spuds Goanna exploration well in the Norwegian North Sea

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the commencement of the Goanna exploration well 39/9-22 S (Faroe 30%) in licence PL 881. ...

Lundin Petroleum reports gas discovery at Korpfjell prospect in the Barents Sea

Lundin Petroleum AB has announced that Statoil AS has completed the Korpfjell exploration well 7435/12-1 in PL859 in the southeastern Barents Sea. The well proved a small, non-commercial gas discovery. ...

SPE, Reed Exhibitions launch new technology event for the oil and gas industry

A new three-day biennial global symposium and exhibition aimed at driving radical digital and technological transformation across the upstream oil and gas industry has been launched by SPE and Reed Exhibitions, the partners behind SPE Offshore Europe. ...

N-Sea announces inaugural Cameroonian contract

Subsea IMR provider, N-Sea, has begun work in the Cameroonian offshore market, via a contract win with Dutch offshore lifting and transportation company, Jumbo Offshore. ...

Iraq braves break with tradition to get oil's true worth

OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. ...

Prolonged shutdowns from Harvey could strand shale output

The mutual dependency of pipeline companies and refiners is being magnified as Tropical Storm Harvey takes its toll on the Gulf Coast, putting at risk the U.S. shale boom. ...

Oil's epicenter faces more flooding

It keeps getting deeper for Houston, the epicenter of the U.S. oil industry. ...

Alicat mass flow controllers power MDC’s XpressStick gas delivery module

Alicat Scientific’s MCE mass flow controllers have been integrated into MDC Vacuum Products’ XpressStick MFC Gas Stick. ...

Quartzdyne memory tools continue to gain momentum

Quartzdyne, a leading producer of pressure transducers for the oil and gas industry, is proud of the instant acceptance by end users, along with the increased momentum that has been created, since the release of its Quartz and Piezo Memory Tools earlier this year. ...

Chevron donates $1 million to Texas Hurricane Harvey relief efforts

Chevron Corporation today announced that it is making a $1-million contribution to the American Red Cross for the immediate relief efforts under way to assist victims of Hurricane Harvey that struck Texas over the weekend. ...

SignalFire introduces intrinsically safe wireless flow totalizer

SignalFire Wireless Telemetry has introduced a new intrinsically safe wireless flow totalizer that connects to industry-standard inductive turbine flow meters (such as the AW-Lake TW Turbine) to measure, locally display, wirelessly transmit and archive flow measurements. ...

YPF CEO resigns as oil company readies asset sales, shale focus

Ricardo Darre, CEO of YPF SA, has resigned as Argentina’s largest oil producer prepares to sell at least $1 billion in assets and focus on developing the world’s second-biggest reserve of shale gas. ...

Aker BP drills dry well northwest of Vilje field

Aker BP ASA, operator of production licence 677, has completed the drilling of wildcat well 25/4-11. The well is dry. ...

Lundin Norway delineates Alta discovery in the Barents Sea

Lundin Norway AS, operator of production licence 609, has completed the drilling of appraisal wells 7220/11-4 and 7220/11-4 A on the 7220/11-1 (Alta) oil and gas discovery. ...

Hedge funds lose faith in oil before Harvey hits demand center

Hedge funds lost faith in oil just before the worst storm to hit the U.S. since 2004 struck the heart of energy production in Texas. ...

Gasoline surges, oil declines as Harvey shutters refineries

Gasoline surged to the highest in two years and oil declined as flooding from Tropical Storm Harvey inundated refining centers along the Texas coast, shutting more than 10% of U.S. fuel-making capacity. ...

Libya's oil disruptions widen as two more fields halt output (1)

Two more oil fields in Libya are being closed after an armed group took over pipelines to both deposits, further disrupting the OPEC nation’s plan to boost crude production. ...

Libya's oil disruptions widen as two more fields halt output

Two more oil fields in Libya are being closed after an armed group took over pipelines to both deposits, further disrupting the OPEC nation’s plan to boost crude production. ...

Harvey hits U.S. oil hub with massive winds, torrential rain

Harvey became the strongest hurricane to hit Texas in more than 50 years, making landfall in the heart of the U.S. energy sector and bringing the danger of a life-threatening storm surge. ...

Oil, gas climb as hurricane Harvey heads for Texas coast

Oil edged higher and gasoline futures jumped as traders braced for Hurricane Harvey’s impact on the U.S. refining hub on the Gulf Coast. ...

Ichthys LNG Project’s giant FPSO safely moored in Ichthys field

The INPEX-operated Ichthys LNG Project’s floating production, storage and offloading facility (FPSO) was safely moored in Ichthys field, 220 km off the north coast of Western Australia. ...

Sustained global recovery in land drilling forecast by Westwood Global Energy Group

The recovery in the global land drilling market, led by North America, is being sustained, according to first half figures from Westwood Global Energy Group, energy market research consultancy firm. The drive, both in the U.S. and internationally, for drilling wells with longer laterals and on multi-well pads, is creating demand for high-horsepower, modern rigs that can minimize time between each well. ...

Statoil, YPF sign onshore exploration agreement for Argentina's Vaca Muerta

Statoil and Argentina’s leading energy company YPF have entered into an agreement to jointly explore hydrocarbons in the Bajo del Toro block in the Neuquén basin onshore Argentina. ...

Norwegian Petroleum Directorate releases 2017 resource report

The significant remaining resources in discoveries and fields make it possible to create values for the Norwegian society for many decades to come, according to the Norwegian Petroleum Directorate’s new report. ...

Venezuela oil minister, PDVSA head to switch roles, Maduro says

Venezuelan oil minister Nelson Martinez and state oil company president Eulogio Del Pino will switch roles as the South American country’s production wanes and money dries up. ...

Hurricane Harvey strengthens as refinery risk lifts gasoline

Hurricane Harvey strengthened on its path toward the Texas coast, forecast to become the worst storm to strike the region in more than a decade. ...

Core analysis and review confirms Cambay potential in India

Oilex Ltd. is pleased to announce that the C-23z core analysis has been completed. The analysis, by Schlumberger and Baker Hughes has confirmed that the EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flowrates are potentially achievable. ...

Oil slides as market eyes crude production, approaching Harvey

Oil slipped as rising U.S. crude production placed a bearish lens over the state of the U.S. market, even though recent government data showed a decrease in inventories. Meanwhile, tropical storm Harvey is expected to strengthen and become the first hurricane to strike Texas since 2008, sending gasoline crack spreads higher. ...

Schlumberger completes multi-purpose vessel seismic acquisition survey in Malaysia

Schlumberger has announced that WesternGeco has completed a hybrid seismic acquisition survey using their newly deployed multi-purpose vessel (MPV)—a first in the industry. ...

Statoil strikes gas northeast of Heidrun field, North Sea

Statoil Petroleum AS, operator of production licence 124, is about to complete the drilling of wildcat well 6507/8-9. ...

KrisEnergy announces appointment of new CEO

KrisEnergy Ltd., an independent upstream oil and gas company, announces that Kelvin Tang, Chief Operating Officer (COO) and president of the Company’s Cambodian operations, has been appointed CEO with effect from Sept. 1, 2017. ...

John Crane Asset Management wins Culzean field maintenance contract with Maersk Oil

John Crane Asset Management Solutions has secured a contract to supply Maersk Oil with data services to support the planned maintenance strategy at one of the largest new developments in the UK North Sea. ...

It's been a tough month for some of America's most-loved oil plays

The good news for U.S. producers: the chief executive officer of Europe’s second-biggest oil and gas company thinks American shale assets are “quite expensive” following a recovery in the price of crude. The bad news: they’re growing more affordable. ...

CAN Group retains North Sea integrity contract

CAN Group has retained a key contract in the UKCS to provide topsides inspection and integrity support services for Apache North Sea’s assets in the UKCS. ...

TFKable announces new CEO, regulatory approval for JDR acquisition

Group TELE-FONIKA Kable, a global producer of wires and cables, today announces that regulatory approval for its acquisition of JDR Cable Systems Ltd., a supplier of subsea umbilicals and power cables to the offshore energy industry, has been granted. ...

DNO increases Tawke stake, announces settlement of Kurdistan receivables

DNO ASA, the Norwegian oil and gas operator, has been assigned the 20% interest in the Tawke license held by the Kurdistan Regional Government as part of a landmark settlement of outstanding receivables owed to the Company for past crude oil deliveries. ...

Core analysis and review confirms Cambay potential

Oilex Ltd. is pleased to announce that the C-23z core analysis has been completed. The analysis, by Schlumberger and Baker Hughes has confirmed that the EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flowrates are potentially achievable. ...

Algeria muddles through slump as history deters debt

The new realities of global oil markets are yet to convince economic policy makers in Algeria that it’s time for a radical rethink. ...

PetroChina rewards investors with full profit payout on crude oil rise

PetroChina plans to pay out its entire half-year net income to shareholders as the country’s biggest oil and gas producer benefited from higher global crude prices. ...

Slump no obstacle to 300% return for Norwegian driller

While other offshore rig operators are still struggling to survive the worst oil-market slump in a generation, one Norwegian company has managed to turn things around. ...

PetroChina rewards investors with full profit payout on oil rise

PetroChina plans to pay out its entire half-year net income to shareholders as the country’s biggest oil and gas producer benefited from higher global crude prices. ...

Oil slump no obstacle to 300% return for Norwegian driller

While other offshore rig operators are still struggling to survive the worst oil-market slump in a generation, one Norwegian company has managed to turn things around. ...

Oil climbs as stockpile drop allays worries over summer's end

Oil markets were happy to hear that summer isn’t over just yet, as the U.S. government reported another decline in crude and gasoline stockpiles. ...

Atwood Oceanics announces new agreement with Australian offshore employees

Atwood Oceanics, Inc. has announced that the offshore employees of its Australian operating subsidiary have approved a new, four-year Enterprise Bargaining Agreement (EBA). ...

Texas oil producers driving oil markets, leaving OPEC confounded

Sizable year-over-year improvements in the rig count, drilling permits, and the value of Texas-produced crude oil and natural gas, along with renewed industry employment growth combined to push the Texas Petro Index upward in July to 176.9, the eighth straight monthly increase since a punishing 24-month contraction, which ended in November 2016 with a revised TPI of 149.2. ...

FairfieldNodal to acquire UK-based provider of marine geopysical services

FairfieldNodal has announced that it is in advanced discussions with Thalassa Holdings to acquire WGP Group Ltd., a premier provider of marine geophysical services headquartered in the UK. ...

Schlumberger, Halliburton IOUs preserve Venezuela link, for now

For Schlumberger Ltd. and Halliburton Co. the road to payment for services in Venezuela is increasingly long and winding. ...

Kosmos Energy reports successful DST of Tortue-1 in Mauritania

Kosmos Energy has announced that it has successfully completed the drill stem test (DST) of the Tortue-1 well, demonstrating that Tortue field is a world-class resource and confirming key development parameters, including well deliverability, reservoir connectivity, and fluid composition. ...

EnQuest revises 2017 production forecast

Operator EnQuest has revised its 2017 production forecast as the Kraken FPSO takes longer than expected to commission. ...

Eni Norge granted drilling permit for wildcat southwest of Goliat field

The Norwegian Petroleum Directorate (NPD) has granted Eni Norge AS a drilling permit for well 7122/10-1 S, cf. Section 8 of the Resource Management Regulations. ...

Venezuela scorns threat of sanctions: "We kneel for no one"

President Nicolas Maduro said Venezuela’s authoritarian regime is prepared for additional retaliation from the U.S., one of the crisis-torn nation’s principal trade partners, including wide-reaching sanctions on its beleaguered economy and oil industry. ...

Shale producers are dropping rigs and adding hedges, ESAI Energy says

Despite a slowdown in the number of rigs being added in the shale basins, output targets will be met or exceeded as producers are adding to their hedged positions, according to ESAI Energy’s recently released North America Watch. ...

Premier Oil confirms sale of its interest in Wytch Farm field in England

Premier Oil confirms that it has reached agreement with a third party for the disposal of its entire 33.8% interest in Wytch Farm field in Dorset, England. ...

Cambodia, KrisEnergy seal terms for nation's first oil field development

The Royal Government of Cambodia and KrisEnergy Ltd. have announced the signing of fiscal and technical agreements for the nation’s first oil field development in Cambodia Block A in the Gulf of Thailand. ...

Shell starts production at Gbaran-Ubie Phase 2 in Nigeria

Shell Petroleum Development Company of Nigeria Ltd joint venture has started production at Gbaran-Ubie Phase 2, a key project in Nigeria’s Niger Delta region. ...

BHP's new chairman heralds era of tougher focus on spending

BHP Billiton’s moves to ditch its U.S. shale assets and halt a rush into the potash market signal an era of more disciplined spending under the top miner’s incoming chairman. ...

Commissioner Christian tours East Texas RRC cleanup operations

Commissioner Wayne Christian (R -Texas) today toured oil and gas cleanup sites in East Texas while visiting the Railroad Commission of Texas (RRC) district office in Kilgore. ...

Chevron's CEO said to step down soon

John Watson, who has led Chevron Corp. since 2010, is planning to step down as the oil major seeks a new CEO, the Wall Street Journal said, citing people familiar with the matter. ...

Chevron's Watson said to step down soon, Wall Street Journal reports

John Watson, who has led Chevron Corp. since 2010, is planning to step down as the oil major seeks a new CEO, the Wall Street Journal said, citing people familiar with the matter. ...

Energy Transfer suit claims Greenpeace incites eco-terrorism with Dakota Access interference

Energy Transfer Partners LP accused Greenpeace International, Earth First! and other groups of inciting terrorist acts and vandalism to generate publicity and raise money for their causes while hampering the Dakota Access pipeline majority owner’s ability to raise money for projects. ...

Colorado Petroleum Council responds to Gov. Hickenlooper's safety proposals

Colorado Petroleum Council (CPC) today released a statement in response to Gov. Hickenlooper’s proposals on industry safety. ...

Lukoil launches production facilities at Gissar in Uzbekistan

Lukoil has reached a progress milestone at its southwest Gissar project in Uzbekistan as it successfully launched the main production and process facilities there. ...

Total snubs `expensive' U.S. shale with North Sea-focused deal

When Total SA warned last month it was ready for acquisitions, U.S. shale assets weren’t at the top of its shopping list. ...

LAGCOE releases 2017 New Technology Showcase winners

LAGCOE, a nonprofit energy industry organization focused on educational programs and organizer of a leading technical exposition and conference, has announced its 2017 New Technology Showcase winners. ...

Libya's biggest oil field back up as pipeline reopens to port

Libya’s biggest oil field is set to boost production after the pipeline to an export terminal was reopened following three days of forced disruption. ...

Probe Technologies announces partnership with Turnbridge Capital

Probe Technologies Holdings, Inc., a supplier of logging and reservoir monitoring technology to the global oil and gas and geothermal industries, announced that Turnbridge Capital has completed a growth recapitalization of the company alongside its experienced management team. ...

Microsoft, Halliburton announce digital transformation partnership

HOUSTON -- Microsoft and Halliburton today announced plans to enter into a strategic alliance to drive digital transformation across the oil and gas industry. The relationship will combine Microsoft's expertise in cloud and digital transformation with Halliburton's exploration and production (EandP) science, software and services. ...

Probe Technologies announces investement with Turnbridge Capital

Probe Technologies Holdings, Inc., a supplier of logging and reservoir monitoring technology to the global oil and gas and geothermal industries, announced that Turnbridge Capital has completed a growth recapitalization of the company alongside its experienced management team. ...

Weatherford appoints Karl Blanchard as COO

Weatherford International plc has announced the appointment of Karl Blanchard as executive V.P. and COO. In this role, he will oversee all region and product line operations; quality, health, safety, security and environment; sales; engineering, research and development; and supply chain. ...

Post Oak Energy Capital makes $100-million commitment to Sierra EF

Post Oak Energy Capital announced that it committed $100 million of equity to Sierra EF, a subsidiary of Sierra Resources, LLC. Affiliates of GSO Capital Partners, and the Sierra management team also have contributed capital to the company and will continue to invest alongside Post Oak. ...

Post Oak Energy Capital Makes $100 Million Equity Commitment to Sierra EF

Post Oak Energy Capital announced that it committed $100 million of equity to Sierra EF, a subsidiary of Sierra Resources, LLC. Affiliates of GSO Capital Partners, and the Sierra management team also have contributed capital to the company and will continue to invest alongside Post Oak. ...

Oil search raises output goal on record Papua New Guinea gas

Oil Search Ltd., the Papua New Guinea-focused energy explorer, raised its full-year production target because of record output from the country’s liquefied natural gas project. ...

Crude trades near $47 as U.S. stockpiles seen extending drop

Oil traded near $47/bbl before data forecast to show a further reduction in U.S. crude inventories, which would signal that a global surplus is receding. ...

BHP in talks on U.S. shale sales after activist campaign

BHP Billiton is in talks with potential buyers of its U.S. shale assets -- acquired in a contentious $20 billion deals spree in 2011. ...

Petrofac sells stake in Pánuco contract to Schlumberger

Petrofac and Schlumberger announced that Petrofac has sold its 50% interest in Petro-SPM Integrated Services S.A. to Schlumberger. ...

Ensco drillship wins contract with Noble Energy in Mediterranean Sea

Ensco plc announced today that the ultra-deepwater drillship ENSCO DS-7 has been awarded a contract by Noble Energy to drill two wells and complete four production wells at the Leviathan field development in the Mediterranean Sea. ...

Ten sailors missing after U.S. warship crashes into oil tanker

Ten sailors are missing and five were injured after a U.S. warship collided with a petroleum tanker near Singapore on Monday, the second crash involving an American naval vessel in Asia in a matter of months. ...

Oil drops in New York, London as bulls charge for exits

Oil in London slipped, with the U.S. benchmark joining the decline, as traders betting on higher prices were seen closing out positions after Friday’s rally. ...

Maersk stands to get another $7.5 billion for energy divestments

Now that its oil and gas unit has been sold, A.P. Moller-Maersk A/S is planning separate divestments for the three remaining bits of what used to be a combined energy division, with estimates valuing those businesses at $7.5 billion in total. ...

Sanchez Energy to sell Eagle Ford asset for $105 million

Sanchez Energy Corporation has announced that it has entered into a definitive agreement to sell its Javelina asset in the Eagle Ford shale for approximately $105 million in cash. ...

NXG Drilling Services expands with move to Aberdeen

NXG Drilling Services has invested more than £2 million in two new northeast operations to cope with increased demand for its tools and equipment solutions. ...

Empyrean Energy provides update on Dempsey well in California's Sacramento basin

Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the United States, is pleased to announce that it has been informed by Sacgasco Limited, the operator of the Dempsey 1-15 well in the Sacramento basin, onshore California, that the field appraisal drilling component of the Dempsey 1-15 well has been successfully concluded. ...

Fortuna FLNG offtake awarded to Gunvor

The Ministry of Mines and Hydrocarbons (MMH), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial (GEPetrol) have nominated Gunvor Group (Gunvor) as their preferred LNG buyer for offtake from the Fortuna FLNG project. ...

Aker BP granted drilling permit for wildcat north of Frøy field

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for wellbore 25/2-19 A, cf. Section 8 of the Resource Management Regulations. ...

Natural Gas bears stage biggest retreat in 11 months amid rally

The rapidly disappearing glut of natural gas in the U.S. is scaring the bears away. ...

Brent oil steals show as hedge funds leave U.S. crude aside

While enthusiasm in the U.S. oil market dwindles, things are looking a little brighter across the pond. ...

Rosneft, Trafigura finalize $12.9 billion deal for Essar Oil

Rosneft and partners including Trafigura Group finalized their $12.9 billion purchase of India’s Essar Oil Ltd. ...

Oil holds near 1-week high as biggest Libyan oilfield disrupted

Oil traded near the highest closing level in a week as OPEC member Libya halted production in its biggest oilfield. ...

Total chases growth with $5 billion purchase of Maersk

Total agreed to buy the oil and gas unit of A.P. Moller-Maersk, the French company’s biggest acquisition since 1999. ...

Shell said to mull buying Israel, Cyprus gas for Egypt plant

Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub. ...

Shell loads oil in Libya for first time in five years

Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback. ...

Hilcorp, BP comment on BOEM's environmental impact statement for Alaskan project

The Bureau of Ocean and Energy Management (BOEM) has released the draft Environmental Impact Statement regarding the Liberty Project for public comment. It is an important step in developing a project which will strengthen Alaska’s energy future, according to the partners on the project. ...

SEG announces results of 2017-2018 board of directors election

The Society of Exploration Geophysicists (SEG) today announced results of its 2017-2018 board of directors election. ...

Ensco, Atwood file definitve proxy materials for merger agreement

Ensco plc and Atwood Oceanics, Inc. announced today the filing of definitive proxy materials with the U.S. Securities and Exchange Commission in connection with the previously announced merger agreement under which Ensco will acquire Atwood in an all-stock transaction. ...

Oil rises as equities rally, physical market seen tighter

Oil surged as much as 2.6% amid a broader market rally and signs that physical oil supplies are tightening. ...

Highlands Natural Resources provides update for East Denver Niobrara project

Highlands, the London-listed natural resources company, has announced that it has successfully drilled and set surface casing in both the Wildhorse 5-64 15-16-1BHZ and Powell 5-64-15-16-1CHZ wells. ...

Statoil recieves consent to use West Elara for drilling, completion at Valemon field

Statoil has been given consent to use the West Elara mobile drilling facility to drill and complete production wells 34/11-B-6 and 34/11-B-16 at Valemon field. Planned drilling start-up is September or October 2017. ...

Chevron, Chrysaor sign software contracts with Aberdeen’s Arnlea

Arnlea, an oil and gas asset management software business, has secured contracts with operators Chevron and Chrysaor. ...

Statoil receives consent for exploration drilling at Gina Krog

Statoil has received consent to drill an exploration well at Gina Krog field in the North Sea. Gina Krog is an oil and gas field located 250 km west of Stavanger and 30 km north-west of the Sleipner A facility in the North Sea. ...

ConocoPhillips receives consent for removal of minor structures at Ekofisk

ConocoPhillips has received consent for preparations for and the start of the removal of minor structures from the Ekofisk field facilities, including the installation of a temporary crane on Ekofisk 2/4 FTP. ...

BOEM publishes draft EIS for Hilcorp oil, gas project in Beaufort Sea

The Bureau of Ocean Energy Management (BOEM) today announced a draft Environmental Impact Statement (EIS) analyzing the possible environmental impacts of the activities proposed in an offshore oil and gas development and production plan (DPP) submitted to BOEM by Hilcorp Alaska LLC. on Sept. 18, 2015. ...

Wellesley Petroleum granted drilling permit for wildcat north of Statfjord field

The Norwegian Petroleum Directorate (NPD) has granted Wellesley Petroleum AS a drilling permit for well 33/9-22 S, cf. Section 8 of the Resource Management Regulations. ...

Blackstone bets on shale boom lasting with Harvest deal

Blackstone Group LP’s reach for $10 billion in energy assets is the firm’s latest bet that the U.S. shale boom is just hitting its stride. ...

Oil set for third weekly drop as rising U.S. output blunts cuts

Oil headed for a third weekly drop as U.S. crude output rose to a two-year high and Chinese refining slowed, signs that the world’s two biggest consumers may stymie OPEC-led efforts to trim a global glut. ...

Crude market shows enduring strength beyond seasonal peak

The market for physical barrels of crude is strengthening beyond the traditional seasonal peak in demand, a positive indicator for futures prices that remain near $50. ...

Crude market shows enduring strength beyond usual seasonal peak

The market for physical barrels of crude is strengthening beyond the traditional seasonal peak in demand, a positive indicator for futures prices that remain near $50. ...

Former Anadarko CEO back in the oil game

James Hackett, the former chief executive of Anadarko Petroleum Corp. who retired to attend Harvard Divinity School, is back to running an oil company. ...

Victoria Oil and Gas provides update on Logbaba drilling operations in Cameroon

As of Aug. 16, Well La-107 has been successfully drilled to its planned TD of the 6-in. hole section at 3,180 m MD (3,166 m TVD) where the base of the Logbaba formation was encountered. ...

Qatar's growth prospects dim as Saudi-led boycott takes its toll

Qatar’s economy will expand this year at the slowest pace since 1995, according to economists surveyed by Bloomberg this month, as the impact of a Saudi Arabia-led boycott is felt on trade and investor confidence. ...

KBR awarded pre-FEED contracts for BP’s Tortue project

KBR, Inc., has announced that it has been awarded pre-front end engineering design (FEED) and project support services contracts by BP for the development of the Tortue/Ahmeyim field offshore Mauritania and Senegal. ...

Apache Corp. completes strategic exit from Canada

Apache Corporation has announced that it has completed the previously disclosed sale of its Apache Canada Ltd. subsidiary to Paramount Resources Ltd. ...

Maersk Drilling reports major contract wins for three rigs

Maersk Drilling has been awarded a contract by Shell for the deepwater semisubmersible rig Mærsk Developer. The contract covers the drilling and completion of three wells, and the suspension of one well, all located in block E of the East Coast Marine Area (ECMA) offshore Trinidad. ...

GOM lease sale yields $121 million in high bids on 508,096 acres

U.S. Secretary of the Interior Ryan Zinke has announced that the region-wide Gulf of Mexico lease sale generated $121,143,055 in high bids for 90 tracts covering 508,096 acres in federal waters of the Gulf of Mexico. A total of 27 companies participated in the sale, submitting 99 bids totaling $137,006,181. ...

Libya gets better at maintaining oil flow as industry stabilizes

Libya’s getting better at resolving stoppages in its oil industry, underpinning a growing perception that the OPEC member is closer to becoming a stable producer again. ...

Worst may be behind for energy borrowers

Don’t expect too much bad news when banks complete their assessment in October of the amount of credit they will continue offering to distressed energy companies. ...

Gas tankers earning more taking scenic routes amid glut

When the tanker Provalys left Louisiana for Chile last month with a full load of U.S. liquefied natural gas, it sailed around South America instead of taking a shortcut through the expanded Panama Canal. Not only may the route be cheaper without canal transit fees, but advances in technology mean less of the fuel would end up lost at sea during the journey. ...

Saudi crude exports fall just as domestic stockpiles dwindle

Saudi Arabia, the world’s biggest crude exporter, shipped the least oil in almost three years in June, just as domestic stockpiles are dwindling. ...

U.S. oil output climbs to two-year high

Oil held losses near the lowest close in more than three weeks as investors weighed expanding U.S. crude output against an extended decline in stockpiles during a period of strong seasonal demand. ...

Wood Mackenzie reports results of GOM lease sale

The U.S. Gulf of Mexico region wide Lease Sale 249 was held today, Aug. 16, 2017. It attracted 99 bids from 27 participating companies, with high bids totaling $121 million. ...

ESAI Energy outlook sees global product demand growth decelerating by 2022

In its recent five-year outlook on petroleum products, ESAI Energy projects global product demand growth to decelerate significantly by 2022. In its outlook, ESAI Energy highlights the effects of a changing global vehicle fleet on gasoline and diesel demand. ...

Hunting announces appointment of new CEO

Hunting is pleased to announce the promotion of Arthur James (Jim) Johnson as CEO with effect from Sept. 1, 2017. Jim will succeed Dennis Proctor, who will retire as CEO and as a director of Hunting on the same date. ...

Trump's push for natural gas exports opposed by manufacturers

President Donald Trump’s effort to boost U.S. energy is facing push back from manufacturers who say exporting more natural gas may undercut his “America First” jobs focus. ...

API: Trump's executive order an important step in streamlining energy infrastructure

API President and CEO Jack Gerard called President Trump's executive order to streamline energy infrastructure an important step in speeding up projects, creating jobs, and improving government efficiencies in delivering energy Americans demand. ...

COSCO Shipping transports Shell's Appomattox hull

COSCO Shipping Specialized Carriers successfully loaded Shell's 40,335-mt Appomattox hull on board the M/V Xin Guang Hua nearby Geoje Island, South Korea, on Aug. 6, 2017. ...

Greka Drilling awarded two new contracts from PetroChina CNPC

Greka Drilling Limited, the largest independent and specialized unconventional oil and gas driller in Asia, has announced that it has been awarded two new drilling contracts with PetroChina Huabei Oilfield Limited (a subsidiary of CNPC). ...

Whatever happened to Indonesia's mighty oil and gas industry?

Once a cornerstone of the economy, Indonesia’s oil and gas sector is in a slump, even as the country’s appetite for energy soars. ...

Rockcliff Energy acquires additional Haynesville shale rights

Rockcliff Energy has announced that, in addition to its pending acquisition of Samson's East Texas and North Louisiana properties, it has acquired approximately 60,000 net acres of Haynesville shale rights. ...

Shale will beat OPEC as U.S. oil thrives at $40, Citigroup says

U.S. shale oil will prevail over OPEC as the two rivals compete in an oversupplied world market, Citigroup Inc.’s head of research said. ...

Ecuador says it will cap output at higher level in deal with OPEC

A month after dealing a blow to OPEC, Ecuador says it will cap output at a more comfortable level than it had initially pledged. ...

Libya's oil output boosted as port reopens, field produces more

Libya’s biggest oil field, Sharara, is increasing production and the Zueitina port is again allowing tankers to load, paving the way for the OPEC nation’s crude output to rebound. ...

Oil halts slide near $48 on signs U.S. stockpiles extended drop

Oil halted its slide near $48/bbl as industry data showed U.S. crude stockpiles declined again, further trimming an inventory surplus. ...

Woodside expects Qatar to target new LNG buyers with supply wave

Woodside Petroleum, Australia’s largest LNG producer, expects rival Qatar to target the emerging markets of India and Pakistan with a new wave of supply next decade. ...

API: Trump's executive order an important step toward streamlining energy infrastructure

API President and CEO Jack Gerard called President Trump's executive order to streamline energy infrastructure an important step in speeding up projects, creating jobs, and improving government efficiencies in delivering energy Americans demand. ...

DNV GL applies data analytics techniques to reduce downtime

Opportunities for digitalization are currently being embraced by the oil and gas sector. However, there are few practical use cases of it yet. Lundin Norway and DNV GL have developed the first step in a solution for predicting unplanned shutdowns of Lundin Norway’s Edvard Grieg production platform. ...

Whiting Petroleum to sell assets in North Dakota's Bakken for $500 million

Whiting Petroleum Corporation has agreed to sell its Fort Berthold Indian Reservation area assets, located in Dunn and McLean Counties, N.D., to RimRock Oil and Gas Williston, LLC. The cash purchase price is $500 million, subject to customary adjustments. ...

Oil trades at three-week low amid rising shale output

Oil traded at a three-week low after a forecast on U.S. shale growth added to mounting worries that the rebalancing process is stalling. ...

Transocean to acquire Songa Offshore SE

Transocean Ltd. has reached an agreement with Songa Offshore SE, whereby it will, subject to certain conditions, make a Voluntary Exchange Offer to acquire 100% of the issued and outstanding shares of Songa Offshore, including shares issued before expiry of the offer period as a result of the exercise of warrants, convertible loans and other subscription rights. ...

Lamprell reports amicable settlement with Schlumberger

Lamprell announces that it has reached an amicable settlement with Cameron International Corporation, a subsidiary of Schlumberger, in respect of the issues associated with the jacking equipment supplied by Cameron in 2016. ...

Philippines weighs China energy deal in disputed South China Sea

The Philippines is considering potential ways to jointly develop oil and gas resources with China in a disputed part of the South China Sea, according to Foreign Affairs Secretary Alan Peter Cayetano. ...

To win oil-glut fight, OPEC must "dig in for the long haul"

When OPEC and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years. ...

Packers Plus, BP Oman achieve unprecedented operational efficiencies in HPHT wells

Packers Plus Energy Services Inc. has announced recent developments with BP Oman Exploration (Epsilon) Ltd. Collaborations include development of a customized completion system, successful installation and subsequent stimulation of two high pressure/high temperature (HPHT) wells in Oman's Khazzan field. ...

Emerson launches new drilling jar clamp for increased safety, well integrity

Emerson Automation Solutions has launched the latest product within its polymer completions solutions range – the PolyOil JAR Handling Clamp – for increased safety and well integrity. ...

Rockhopper Exploration provides Abu Sennan drilling campaign update

Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland basin and the Greater Mediterranean region, has provided the following update concerning the Abu Sennan drilling concession, onshore Egypt. ...

Azinor Catalyst spuds well on Partridge Prospect in the UK North Sea

Azinor Catalyst Limited, the Seacrest Capital Group-backed EandP Company focused on the UK Continental Shelf, is pleased to announce that the 14/11a-2 well on the Partridge Prospect, was spudded at approximately 6:30 a.m. on Aug. 15, 2017, using the Ocean Guardian semisubmersible drilling rig. ...

Oil production in U.S. shale plays increases to record level

Oil output from major U.S. shale plays is poised to reach a fresh record next month. ...

Oil production increases in U.S. shale plays to near record level

Oil output from major U.S. shale plays is poised to reach a fresh record next month. ...

OPEC's long-sought success spoiled by 2018 oil supply worry

Oil investors are already worrying over the potential fallout when OPEC’s deal to cut output expires, marring emerging signs that the accord to shrink a glut is finally succeeding. ...

Management Controls announces change of control, increased investment

Management Controls, Inc., a contractor services management (CSM) company for heavy process industries, has announced a change of control with founder Bob Harrell retiring and passing the company reins to long-time investor George Broady and his son, entrepreneur Vincent Broady. ...

Management Controls, Inc. announces change of control, increased investment in Track platform

Management Controls, Inc., a contractor services management (CSM) company for heavy process industries, has announced a change of control with founder Bob Harrell retiring and passing the company reins to long-time investor George Broady and his son, entrepreneur Vincent Broady. ...

Jersey Oil and Gas announces commencement of drilling on Verbier prospect

Jersey Oil and Gas, an independent upstream oil and gas company ‎focused on the UK Continental Shelf (UKCS) region of the North Sea, has announced that drilling operations have commenced on well 20/05b-13 on UK Seaward Licence P.2170, Blocks 20/5b and 21/1d. ...

Renowned oil trader sees worsening oil market outlook

The outlook for the oil market next year has "deteriorated in recent weeks," renowned oil trader Andy Hall told investors in a letter dated Aug 1. that announced the closure of his flagship hedge fund Astenbeck. ...

BP announces start-up of two major upstream projects

BP has confirmed the start of production from another two of the seven major upstream projects that it expects to come online in 2017. Five of these seven projects have now started up. ...

TGS and iLandMan integrate land and well data systems

Oil and gas software firm iLandMan is now offering nationwide well data and status information thanks to a new integration with geoscience data company TGS. ...

Abrado Wellbore Services completes first Gulf of Mexico run with new marine riser scraper tool

Abrado announced today that it has completed its first run with the new Maximo marine riser scraper tool for a major operator in the Gulf of Mexico. ...

Visuray introduces advanced diagnostic tool for well inspections

Following the successful launch of the VR90 downhole X-ray diagnostic tool in 2015, Visuray has developed an improved version of the tool known as the VR90s advanced diagnostic tool. The VR90s tool is the second product offering from the Visuray Downhole X-Ray platform family. ...

BNK Petroleum reports completion of fracture stimulation in Oklahoma's SCOOP

BNK Petroleum Inc. has announced the completion of the fracture stimulation of the Hartgraves 1-6H well (100% working interest), which is located in BNK’s Tishiminogo field, in the SCOOP region of Oklahoma. ...

Oil stuck in loop leaves bored hedge funds awaiting clarity

Oil hasn’t been so tedious in a long time, and hedge funds just don’t know what to do with it. ...

Oil giants dangle $19 billion in investments for Norway tax breaks

Norway’s oil industry says it has some major investments in store if the government can just come through with some tax incentives. ...

Fortis Petroleum spuds exploration well targeting Hyrokkin prospect

Fortis Petroleum has announced that the company has been informed by AkerBP ASA, the Operator, that the Maersk Interceptor jack-up rig spudded the 25/4-11 exploration well targeting the Hyrokkin prospect, on Aug. 11, 2017. ...

Zambia commissions first oil survey

President Edgar Changa Lungu heralded the beginning of Zambia’s new oil industry, when he commissioned the launch of a full tensiometer survey by Tullow Oil in Luapula province. The survey is the first of its kind to be undertaken in Zambia. ...

The Buchan Alpha oil production vessel arrives at Veolia, Peterson decommissioning facility

The Repsol Sinopec Resources UK, Buchan Alpha oil production vessel, weighing 12,000 tonnes, arrived safely in Lerwick, Shetland, on Aug. 12-13. Decommissioning of the facility is being managed by Veolia and Peterson and is believed to be the first major North Sea floating production vessel facility to be disposed of in Scotland. ...

Nabors agrees to acquire Tesco Corp. in all-stock transaction

Nabors Industries Ltd. has announced that the company has signed an arrangement agreement to acquire all of the issued and outstanding common shares of Tesco Corporation. This transaction will create an extensive rig equipment and drilling automation provider by combining Canrig, Nabors rig equipment subsidiary, with Tesco's rig equipment manufacturing, rental and aftermarket service business. ...

Britain's natural gas plants get boost from electric cars

Britain’s goodbye to fossil-fuel cars by 2040 could boost the need for more natural gas-powered stations. ...

Natural gas plants get boost from electric cars

Britain’s goodbye to fossil-fuel cars by 2040 could boost the need for more natural gas-powered stations. ...

Sanctions hurt North Korea but oil cut needed for knock out

For North Korea’s fledgling economy, the latest round of sanctions will cut deep. ...

Libya's oil output disrupted by security threats, shut terminal

Libya’s biggest oil field has reduced crude production by more than 30% in recent days and the Zueitina export terminal ceased loadings over the weekend, throwing the OPEC country’s output back on a downward spiral. ...

Carrizo Oil and Gas announces closing of Delaware basin acquisition

Carrizo Oil and Gas, Inc., has announced that it completed the closing of the transactions contemplated by the purchase and sale agreement with ExL Petroleum Management, LLC, and ExL Petroleum Operating Inc. ...

Venezuela's Citgo turns to Canada for oil as crisis deepens

Venezuela’s oil-supply woes are so dire that its U.S. refineries are turning to Canada for help. ...

Andeavor to develop Conan crude oil gathering pipeline system in Delaware basin

Andeavor is pleased to announce that it received sufficient commitments from third party shippers to warrant construction of the Conan crude oil gathering pipeline system in the Delaware basin. ...

Ocean Power Technologies establishes Houston presence

Ocean Power Technologies, Inc. has announced that it has established a presence in Houston, Texas to more effectively support the company’s oil and gas business development activities. ...

Fourchon LNG kicks off federal regulatory process for $888-million LNG facility

The Greater Lafourche Port Commission (GLPC) and tenant Energy World USA (EWUSA) have announced that wholly-owned Fourchon LNG LLC has filed its formal letter to request initiation of the pre-filing review process with the U.S. Federal Energy Regulatory Commission (FERC). ...

Oil poised for weekly loss amid weaker demand outlook

Oil slipped, heading for the biggest weekly loss in a month, as the outlook for demand dimmed amid an already shaky market. ...

Highlands Natural Resources begins drilling at its East Denver Niobrara Project

Highlands, the London-listed natural resources company, is pleased to announce that it has successfully mobilized and assembled a horizontal drilling rig at its East Denver Niobrara Project, a shale oil and gas project in Colorado, and commenced drilling its first well on Aug. 10, 2017. ...

GeoPark, Wintershall strike oil in Neuquen basin, Argentina

GeoPark Limited and Wintershall Energía S.A., a subsidiary of the BASF group, the fourth-largest gas producer in Argentina with over 15 blocks, have announced the discovery of a new oil field in the CN-V block (GeoPark 50% WI, Wintershall 50% WI) in the Neuquen basin, Mendoza Province of Argentina. ...

Petrobras discovers oil accumulation in Campos basin pre-salt layer

Petrobras has reported the discovery of oil accumulation in the Campos basin’s pre-salt layer, in the area of Marlim Sul field. ...

Andeavor announces development of Conan crude oil gathering pipeline system in Delaware basin

Andeavor is pleased to announce that it received sufficient commitments from third party shippers to warrant construction of the Conan crude oil gathering pipeline system in the Delaware basin. ...

IEA cuts estimates for crude needed from OPEC in 2017, 2018

The International Energy Agency cut estimates for the amount of crude needed from OPEC this year and in 2018 after lowering its historical assessments of consumption in some emerging nations. ...

Threat of Venezuelan oil ban pits oil boss Hamm against refiners

The prospect of a U.S. blockade of crude oil imports from Venezuela has ignited fierce lobbying in Washington pitting domestic energy producers such as oil tycoon Harold Hamm, who favor a get-tough approach, against refiners that depend on those supplies. ...

Patterson-UTI reports stable summer rig count, credits demand for high-spec rigs

Patterson-UTI Energy has reported that for the month of July 2017, the company had an average of 162 drilling rigs operating, including 159 in the U.S. and three rigs in Canada. ...

Ocean Power Technologies establishes Houston presence to support oil and gas business development

Ocean Power Technologies, Inc. has announced that it has established a presence in Houston, Texas to more effectively support the company’s oil and gas business development activities. ...

Continental jumps nearly 10% as gushers boost output

Continental Resources Inc. surged the most in eight months after record-setting drilling results in Oklahoma prompted the shale explorer to lift its full-year production estimate. ...

OPEC finally catches a break as oil curves show cuts biting

The key sign of OPEC’s success may finally be here. ...

Baker Hughes releases field-proven coiled tubing simulation software

Baker Hughes, a GE company, announced today the introduction of its CIRCA coiled tubing simulation software, which enables coiled tubing service providers to maximize equipment performance and improve operational efficiency in well interventions. ...

Saudi, Iraq oil ministers agree to stronger oil-cuts commitment

OPEC’s two biggest producers agreed to strengthen their commitment to production cuts and maintain balance in world crude markets, Saudi Energy Minister Khalid Al-Falih said after talks with his Iraqi counterpart Jabbar al-Luaibi, according to the kingdom’s state news agency SPA. ...

Aker BP awards lease of semisubmersible to Odfjell Drilling

Aker BP ASA has awarded an agreement to Odfjell Drilling for the lease of the semisubmersible drilling rig Deepsea Stavanger for a period of approximately 9 months, with commencement in February 2018. ...

Euronav says shale boom ends OPEC's power to crush tanker demand

For decades, the world’s largest oil shippers lived in fear of OPEC turning off the taps and causing demand for their vessels to plunge as cargoes dwindled. That’s not how it’s played out this time, according to one of Europe’s biggest supertanker operators. ...

Russian gas link offshoot taps investors as sanctions swirl

German natural gas network operator Gascade Gastransport GmbH is in talks with investors to raise money for a new pipeline that will carry more Russian fuel directly to Europe. ...

M2 Subsea secures vessel alliance in Gulf of Mexico

M2 Subsea, the global independent provider of ROV services, has formed an alliance with vessel operator, Harvey Gulf Marine International, to provide subsea ROV services in the Gulf of Mexico. ...

Gazprom Neft to borrow $2 billion in 2018 in bet on lower rates

Gazprom Neft PJSC, the oil arm of Russia’s natural gas exporter, plans to borrow the equivalent of $2 billion next year, seeing crude markets stabilizing and the country’s central bank continuing to lower rates. ...

Atwood Oceanics announces contract for ultra-deepwater rig offshore Africa

Atwood Oceanics, Inc., has announced that one of its subsidiaries agreed to a one well contract at an undisclosed dayrate for operations offshore Northwest Africa with Kosmos Energy Ventures for the ultra-deepwater rig, the Atwood Achiever. ...

Teledyne CARIS releases new version of Bathy DataBASE

Teledyne CARIS has announced the release of Bathy DataBASE (BDB) 4.4. This new version addresses the important areas of feature generalization and automation of product generation for chart compilation, as well as the increasing emphasis on bathymetric Lidar surveys. ...

Crude rises above $50 after OPEC boosts oil demand outlook

Oil climbed above $50/bbl after OPEC boosted estimates of demand for its crude amid stronger-than-expected fuel consumption and a weaker outlook for rival supply. ...

Oil gains as market weighs crude supply drop, gasoline build

Oil edged higher as traders weighed a decline in U.S. crude stockpiles with an unexpected increase in gasoline supplies. ...

Niche U.S. oil driller gets a shot at world's biggest reserves

Venezuelan President Nicolas Maduro praised foreign companies wise enough to make deals with what he called “our beloved PDVSA.” ...

No-name U.S. oil driller gets a shot at world's biggest reserves

Venezuelan President Nicolas Maduro praised foreign companies wise enough to make deals with what he called “our beloved PDVSA.” ...

Oil declines as supply concerns loom with summer season ending

Oil slid on concerns that supplies may rise once the summer driving season ends, with traders shrugging off an industry report showing U.S. stockpiles declined. ...

EIA: U.S. expected to become a net exporter of natural gas this year

EIA’s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The United States has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. ...

Parkmead acquires interest in UK North Sea licence containing Farne Extension prospect

Parkmead, the UK and Netherlands focused independent oil and gas group, is delighted to announce that it has completed the previously announced acquisition of a 50% interest in the UK North Sea Licence P.2209. from Verus Petroleum (SNS) Limited, which contains the Farne Extension prospect and a further four prospective leads. ...

ION acquires first seismic survey offshore Panama in 30 years

ION Geophysical Corporation has announced acquisition is in progress on a new 2D multi-client program offshore Panama. Supported by industry funding, this is the first seismic survey acquired there in approximately 30 years. ...

Repsol Norge awards four-year PandA contract to Archer

Archer Limited announces a four-year contract for PandA rig operations. The contract scope includes permanent plugging and abandonment of the wells on the Gyda platform operated by Repsol Norge AS. ...

Iraq, UAE, Kazakhstan affirm commitment to output cuts, OPEC says

OPEC said Iraq, the United Arab Emirates and Kazakhstan -- who have lagged in their implementation of a deal to cut production -- affirmed their commitment to the accord at a meeting in Abu Dhabi. ...

HydraWell secures major UK frame agreement

The UK operation of an undisclosed super-major has awarded HydraWell a frame agreement to provide technology and services for all of the operator’s plug and abandonment (PandA) and well repair operations on the UK continental shelf. ...

Pantheon Resources provides update on East Texas operations

Pantheon Resources plc, the AIM-quoted oil and gas exploration company with a working interest in several conventional projects in Tyler and Polk Counties, onshore East Texas, has provided the following update. ...

Newly launched decommissioning company appoints CEO, makes first acquisition

Well-Safe Solutions, a specialist well abandonment company, has acquired Intervention Project Management (IPM) for an undisclosed sum. ...

No-name U.S. oil driller gets shot at world's biggest reserves

Venezuelan President Nicolas Maduro praised foreign companies wise enough to make deals with what he called “our beloved PDVSA.” ...

Gas sellers warn hard-bargaining buyers: market is turning

A worldwide glut of natural gas has buyers of the fuel driving hard bargains and pushing for shorter supply contracts. The only problem with that, according to their sellers: The market’s about to turn against them. ...

Egypt moves to end state monopoly of natural gas market

Egypt is opening the door to private participation in its natural gas sector, moving to end the state’s monopoly as it pushes ahead with reforms meant to encourage investment and revive the economy. ...

EIA raises both 2017, 2018 U.S. crude production forecasts

U.S. producers are seen pumping away, even with the price of West Texas Intermediate crude lingering below $50/bbl, according to the latest government estimates. ...

ENGIE EandP UK reports first gas at Cygnus Bravo in the southern North Sea

First gas has been exported from Cygnus Bravo, the satellite wellhead platform in the Southern North Sea’s Cygnus development, operated by ENGIE EandP UK Limited. ...

SNC-Lavalin, Dragados, Pennecon awarded construction contract for West White Rose

SNC-Lavalin, Dragados Canada and Pennecon Ltd. are pleased to announce that their General Partnership (GP) has been awarded a construction contract from Husky Energy as part of the company’s West White Rose Project in Newfoundland and Labrador. ...

Chevron, Total withdraw foreign staff in Venezuela amid political turmoil

Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s Statoil ASA has withdrawn its expatriate staff. ...

Keystone XL path up for grabs as Nebraska Commission weighs in

The future of TransCanada Corp.’s Keystone XL pipeline could hinge on whether a Nebraska commission believes the project is in the public’s interest or a private land grab as property owners claim. ...

Chevron, Total said to withdraw foreign staff in Venezuela amid political turmoil

Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s Statoil ASA has withdrawn its expatriate staff. ...

Iran seeks reappointment of OPEC veteran Zanganeh as oil minister

Iran’s President Hassan Rouhani proposed the reappointment of its longest-serving oil minister, Bijan Namdar Zanganeh, who fought to restore crude production and closed a landmark deal with Total SA to develop the Persian Gulf country’s share of the world’s biggest natural gas field. ...

OPEC veteran Zanganeh called upon to return as Iran oil minister

Iran’s President Hassan Rouhani proposed the reappointment of its longest-serving oil minister, Bijan Namdar Zanganeh, who fought to restore crude production and closed a landmark deal with Total SA to develop the Persian Gulf country’s share of the world’s biggest natural gas field. ...

Suretank Brazil aims to revolutionize chemical transportation for oil and gas

Suretank Latin America has entered into a partnership agreement with Pinamak aimed at dramatically reducing operating costs in the transportation of chemicals to offshore platforms. ...

Baker Hughes to provide support for Gulf of Papua project

Baker Hughes announced an it has signed an agreement with Twinza Oil to provide support on the Pasca A gas condensate field, offshore Papua New Guinea in the Gulf of Papua. ...

Topaz Energy and Marine awarded $100-million Dragon Oil contract

Topaz Energy and Marine, a leading offshore support vessel company, has announced a new $100-million contract with Dragon Oil, the upstream oil and gas subsidiary of Emirates National Oil Company (ENOC) whose principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. ...

Cosasco secures corrosion contracts worth $3 million with Middle East operator

Cosasco, specializing in corrosion and erosion monitoring and chemical injection and optimization, has been awarded contracts totaling $3 million with LandT Hydrocarbon Engineering (LTHE) to deliver corrosion monitoring systems to a supermajor in the Middle East. ...

China gas sellers sidestep state giants to ride demand surge

China’s independent energy firms are seeking to circumvent its state-backed giants as they cash in on swelling natural gas use, buoyed by President Xi Jinping’s drive for cleaner fuels and nimbler companies. ...

CNOOC announces the start of production at Hangingstone in Alberta

CNOOC Limited has announced that the Hangingstone project in Canada has already commenced production. ...

Baker Hughes signs agreement with Twinza to provide support for Gulf of Papua project

Baker Hughes announced an it has signed an agreement with Twinza Oil to provide support on the Pasca A gas condensate field, offshore Papua New Guinea in the Gulf of Papua. ...

Saudis are said to cut September oil sales to prized Asia market

Saudi Arabia cuts crude sales for next month to buyers in the world’s biggest oil market to help shrink a global glut. ...

GATE Energy acquires PDI Solutions

Houston-based GATE Energy announces the acquisition of PDI Solutions, LLC, headquartered in Schriever, La. PDI Solutions is a leading provider of a wide array of services in the operations, maintenance (OandM), and inspections arena with focus in both the upstream and midstream markets. ...

Woodside strikes gas for the third time in Myanmar

Woodside has advised that the Pyi Thit-1 exploration well in Block A-6 in the Southern Rakhine basin, located offshore Myanmar, has intersected a gross gas column of approximately 65 m. A net gas pay interval of approximately 36 m has been interpreted within the primary target sandstone reservoir. ...

Post Oak Energy Capital leads $100-million capital commitment to Nadel and Gussman NV

Post Oak Energy Capital, LP, through investment partnerships it manages, today announced that it led a $100-million equity commitment to Nadel and Gussman NV, LLC. Affiliates of Nadel and Gussman, LLC and the management team will co-invest alongside Post Oak. ...

BP announces Mancos shale discovery in New Mexico

BP announced today it has brought online a highly productive natural gas well in the Mancos shale, highlighting the potential of the New Mexico field to be a significant new source of U.S. natural gas supply. ...

Statoil reports gas discovery at Gemini North in the Barents Sea

Statoil and partners OMV and Petoro have made a small gas discovery in the Gemini North well, northeast of the Wisting discovery in the Barents Sea. The well also proved oil. ...

TWMA secures North Sea contract with Azinor Catalyst

TWMA, a provider of drill cuttings and slop handling, management and treatment solutions, has been awarded a contract estimated to be worth around £1million with UKCS-focused EandP company, Azinor Catalyst Limited. ...

Energy explorers search Pakistani "wildcat areas" as fields dry

Pakistan’s state-owned companies are spending record amounts on energy exploration, including in areas more known for separatist insurgency, as old fields start to dry up. ...

Libya's largest oil field "back to normal" after disruption

Libya’s biggest oil field Sharara is “back to normal” after a disruption caused by protests, the country’s National Oil Corp. said. ...

ADNOC in advanced talks with potential partners for new offshore oil concession

The Abu Dhabi National Oil Company (ADNOC) has announced that it is in advanced discussions with more than a dozen potential partners who have expressed a significant interest in the offshore concession, currently operated by the Abu Dhabi Marine Operating Company (ADMA-OPCO) that expires next March. ...

Petrofac to help improve management performance through research study

Petrofac has been awarded a research study from the Energy Institute’s Process Safety Committee in a bid to help improve maintenance management performance across the oil and gas industry. ...

Cairn Energy announces results of SNE North-1 exploration well, offshore Senegal

The well encountered oil and gas in the primary objective and oil in the deeper secondary objective, in a separate accumulation to the SNE field. ...

Oil trades near $49 as prices still capped by sufficient supply

Oil traded near $49/bbl in New York amid speculation that plentiful supplies will continue to thwart any further rallies. ...

Hedge funds lend oil a hand in the choppy road to the $50s

Oil seems to have hedge funds in its corner as futures stagger toward $50/bbl. ...

Russian oil giant lends support to Venezuela oil company

Russia’s largest oil company disclosed another advance payment to Venezuela’s state producer after the U.S. sanctioned President Nicolas Maduro on Monday. ...

Dream of $65 billion hidden off Norway is fading away

Norway’s oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming. ...

Shale boom slows as investor enthusiasm for Permian fades

Oil explorers reduced rigs drilling in U.S. oilfields this week, fueling optimism that a shale slowdown and OPEC production cuts will be enough to deflate a glut and strengthen crude prices. ...

API applauds Senate action to restore quorum at FERC

API applauded the Senate’s action today to confirm Rob Powelson and Neil Chatterjee to be commissioners at FERC – restoring a quorum at the agency. ...

Statoil granted drilling permit for wildcat in Norwegian North Sea

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7317/9-1, cf. Section 8 of the Resource Management Regulations ...

Oil "God" Andy Hall closes down main hedge fund after major loss

If an oil trader so good that he was known as “God” can’t win in today’s markets, it’s hard to imagine who can. ...

Oil set for weekly drop after 2017's best week amid supply focus

Oil is poised for a weekly decline as rising output from the U.S. and OPEC stokes fears that recent declines in inventories might just be temporary. ...

New decommissioning company targets £200-million investment

Well-Safe Solutions, set up by a group of oil industry stalwarts - including Alasdair Locke, Mark Patterson, and Paul Warwick - will provide a ground-breaking approach to the safe and cost-efficient decommissioning of subsea wells. ...

Trump's reboot of sanctions ushers in "new normal" for Russia

As Russia hunkers down for “ decades” of U.S. sanctions, the chill in geopolitics is threatening to turn into a deep freeze for an economy retooling after the crash in oil prices. ...

BNK Petroleum commences Hartgraves 1-6H fracture stimulation in Oklahoma

BNK Petroleum Inc. has announced that fracture stimulation completion operations on the previously drilled Hartgraves 1-6H well have commenced. ...

Keystone XL foes duck the c-word in red state pipeline battle

You won’t hear the C-word (as is climate) coming from Keystone XL foes as they argue against TransCanada Corp.’s push to get the final state approval needed to build the pipeline. ...

U.S. energy agency to take on $50 billion pipeline backlog as Senate acts

The main U.S. energy regulator can get back to work approving natural gas pipelines after the Senate moved to fill two of four vacancies at the agency. ...

Supply chain alliance helps secure FERC confirmation of pipeline projects

Businesses across the energy supply chain helped to get a quorum at the FERC, which ended with the confirmation of two pipeline nominees by the U.S. Senate. ...

$50 oil "magic" boosts offshore drillers' hopes of competing with shale

The “magic” of $50 oil is now in the sights of deep-sea drillers as they try to lure customer spending from shale wells on land. ...

Iraq's Kirkuk province spurns plan to ship oil to Iran

Iraq’s northern province of Kirkuk refuses to cooperate with any plans to ship its oil to neighboring Iran because the central government didn’t consult with it on the matter, Kirkuk provincial officials said. ...

ION announces second 3D multi-client reimaging program offshore Mexico

ION Geophysical Corporation has announced a new 3D multi-client broadband reimaging program offshore the Western Gulf of Mexico, using the Mexican National Hydrocarbons Commission (CNH) data library. ...

PSAC increases its 2017 drilling forecast following strong second quarter

The Petroleum Services Association of Canada (PSAC), in its third update to its 2017 Canadian Drilling Activity Forecast, announced that it was increasing its forecasted number of 6,680 wells to be drilled (rig released) across Canada for 2017 to 7,200 wells drilled. ...

API welcomes nominations of Kevin McIntyre, Richard Glick to FERC

API welcomed the administration’s nominations of Richard Glick to be a commissioner and Kevin McIntyre to be the chairman of FERC and called on the Senate to promptly approve these nominations so that the agency can continue its work to approve important infrastructure projects across the country. ...

DNV GL carries out its first offshore drone survey on semisubmersible vessel

DNV GL surveyors have carried out the classification society’s first offshore drone survey on the semisubmersible vessel Safe Scandinavia in the North Sea. This 25,383 GT tender support vessel (TSV) is owned and operated by Prosafe, supporting Statoil’s drilling operations off the coast of Norway. ...

DNV GL carries out its first offshore drone survey on semisubmersible vessel Safe Scandinavia

DNV GL surveyors have carried out the classification society’s first offshore drone survey on the semisubmersible vessel Safe Scandinavia in the North Sea. This 25,383 GT tender support vessel (TSV) is owned and operated by Prosafe, supporting Statoil’s drilling operations off the coast of Norway. Using camera-equipped drones, DNV GL’s drone pilots checked the TSV’s fairleads and their connection with the vessel’s two columns as part of the intermediate survey. ...

Pioneer tumbles most since 2008 after "train-wreck" oil wells

Pioneer Natural Resources Co. dropped as much as 16% after “train-wreck” oil wells dashed the company’s growth objectives and shale assets had higher-than-expected natural gas content. ...

Indonesia seeks Chevron, ConocoPhillips proposals in investment push

Indonesia wants Chevron Corp. and ConocoPhillips to submit proposals to renew their licenses to operate oil and gas fields as the former OPEC member seeks to reverse a decline in energy investments. ...

Sound Energy confirms final approval of Matarka licence in Morocco

Sound Energy, the African and European focused upstream gas company, has confirmed final approval of the Matarka licence in eastern Morocco. ...

Abu Dhabi oil producer said to seek $7 billion in funding

Adnoc asked banks for proposals to manage the sale of a project bond and is also seeking a loan as the government-owned energy producer considers raising as much as $7 billion for its businesses. ...

Wild shale race may be harming the Permian's oil trove

The frantic shale race may be causing some long-term damage to assets in the Permian and other major U.S. oilfields. ...

Oil's going, going, gone: crude's worth revealed at auctions

Oil producers who for years tracked top OPEC member Saudi Arabia to help set the price of their crude could now be looking to go solo. ...

As Venezuela spirals, U.S. oil confronts a $10 billion threat

The tanker Paramount Helsinki docked in Pascagoula, Mississippi, last week bearing the lifeblood of Chevron’s refinery there: 532,000 bbl of thick Venezuelan oil. ...

Venezuela to prepare workaround if U.S. bans oil imports

Venezuela’s state-owned oil company and its partners have quietly started working on a Plan B to find markets for the country’s crude oil if the White House ratchets up sanctions and bans imports. ...

Crowley supports Stampede platform tow-out and installation in the U.S. Gulf

Crowley Maritime Corp.’s ocean class tugboats and 455-series, high-deck strength barges recently played an integral role in the safe, successful tow-out and installation of Hess’ Stampede tension-leg platform (TLP) in the deep waters of the U.S. Gulf of Mexico. ...

Oil market's hidden signals show shale producers hedging again

Look under the hood of the oil market and one thing becomes apparent -- shale producers seem to be hedging again. ...

Oil falls as U.S. crude output rises, outweighing stockpile drop

Oil declined as traders gave more weight to government data showing an increase in U.S. output than to numbers reporting falling stockpiles. ...

Petronas awarded shallow water block in Mexico's Salina basin

Petronas’ subsidiary PC Carigali Mexico Operations, S.A. de C.V., has been awarded shallow water Block 6 in the Gulf of Mexico’s Salina basin. ...

OMV granted drilling permit for appraisal well at Wisting discovery, in the Barents Sea

The Norwegian Petroleum Directorate has granted OMV (Norge) AS a drilling permit for well 7324/8-3, cf. Section 8 of the Resource Management Regulations. ...

Rosneft celebrates 15 years of safe offshore operations in Vietnam

Rosneft celebrates 15 years of safe offshore operations in Vietnam Rosneft Vietnam B.V., a Rosneft subsidiary operating Block 06.1 on Vietnam shelf celebrates 15 years of safe offshore operations. ...

Global glut has LNG suppliers looking to build smaller and cheaper

The failure of a $27-billion project last week may offer a lesson to natural gas exporters: Go small or go home. ...

Who needs $100 oil? Majors seen making more cash at $50, Goldman says

Oil majors are raking in more cash now than they did in the heyday of $100 oil, according to Goldman Sachs Group Inc. ...

Centrica North Sea awards three-year UK PandA deal to HydraWell

Centrica North Sea Limited has awarded HydraWell a three-year frame contract to provide plug and abandonment (PandA) technology and services for the operator’s “A Fields” in the southern part of the North Sea. ...

Expro secures well abandonment contract for UK North Sea multi-field campaign

Expro has been awarded a substantial contract from global oil and gas company Maersk Oil for the provision of subsea and well test services on two offshore units in the North Sea. ...

NEL leads European multi-phase flow measurement standardization program

NEL, the flow measurement RandD specialist, is leading a major research program that will enhance flow measurement standardization across Europe between multi-phase flow metrology testing facilities. The new three-year project is part of the European Metrology Program for Innovation and Research (EMPIR), the main European program for the scientific study of measurement. ...

Samson to sell its Texas, Louisiana assets for $525 million

Samson will sell its Texas and Louisiana assets for $525 million to an affiliate of Rockcliff Energy II. ...

Shale drillers show few signs of slowing as profits expand

The shale surge that’s tied down global oil prices shows no signs of abating, as four of the biggest U.S. drillers said they’re not backing away from lofty production targets for 2017. ...

Samson to sell its Texas and Louisiana assets for $525 million

Samson will sell its Texas and Louisiana assets for $525 million to an affiliate of Rockcliff Energy II. ...

London, New York vie for Saudi Aramco IPO

Saudi Arabia aims to sell about 5% of Saudi Aramco in an initial public offering next year, and stock exchanges from the UK to Japan are vying for what may be the world’s richest IPO. ...

Sacgasco to commence drilling of Dempsey natural gas well in California

Sacramento basin-focused natural gas developer and producer, Sacgasco Limited has advised that it plans to commence drilling of the Company’s 1+ Tcf Dempsey 1-15 well in the Sacramento basin in California on Aug. 1, 2017. ...

Oil majors seen vulnerable to fresh slump despite growth at $50

Europe’s oil industry is once again pumping out cash even as crude languishes at half the price of three years ago. Yet companies remain vulnerable to a renewed downturn. ...

CNOOC announces start of production at BD gas field in Indonesia

CNOOC Limited has announced that BD gas field in Indonesia has already commenced production. ...

Ambush on Nigerian oil team may hamper Buhari's recovery plan

An attack by Islamist militants on an oil exploration team in Nigeria’s northeast has hurt the government’s agenda to find new crude reserves and quashed hopes of a quick recovery of the West African nation’s least developed region. ...

Battle over abandoned oil wells in Canada may go to the Supreme Court

A battle over whether energy-company creditors should help pay for cleaning up thousands of abandoned oil wells in Canada may be heading to the country’s Supreme Court. ...

Packers Plus optimizes completions in the Permian with cemented sleeve technology

Packers Plus Energy Services Inc. has announced recent success with an operator in the Permian basin using TREX Cemented Completions Solutions, a suite of new, high-quality technologies designed to optimize cemented well completions for customers worldwide. ...

McKinsey Energy Insights forecasts global gas supply to grow 1.4% by 2030

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, has released its latest Global Gas Market Outlook, in which the company predicts that natural gas will represent 23%—up from 22% in 2016—of the global energy mix by 2030. ...

Sound Energy recieves approval for proposed gas export pipeline in Morocco

Sound Energy, the European and African focused upstream gas company, is pleased to announce that it has received written confirmation, from the Wilaya of the L'Oriental region in Morocco (a local authority in Eastern Morocco), that preliminary approval has been provided for the proposed route of the gas export pipeline that will be necessary to transit gas from Sound Energy's Eastern Moroccan interests to the Gazoduc Maghreb Europe (GME) pipeline. ...

ConocoPhillips completes sale of San Juan basin assets

ConocoPhillips has completed its previously announced transaction with an affiliate of Hilcorp Energy Company to sell its San Juan basin assets for up to $3 billion of total consideration, comprised of $2.7 billion in cash and contingent payments of up to $300 million. ...

Oil holds gains above $50 as U.S. stockpiles seen extending drop

Oil held gains above $50/bbl before U.S. government data forecast to show crude stockpiles extended declines. ...

BP breaks even in tough environment after debt hits record

BP moved to calm investor concerns after debt rose to a record high. ...