Dutch outbid British for gas as freeze exposes supply limits

Traders in Europe’s two biggest natural gas markets were scrambling for fuel on Wednesday, sending prices soaring as freezing weather exposed supply issues. ...

Chevron director questions future of oil industry

Chevron Corp.’s youngest director questioned the future of an industry the world’s third-largest oil explorer helps lead. ...

ExxonMobil reports seventh discovery offshore Guyana

ExxonMobil Corporation has announced its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. ...

Petrobras announces start of binding phase for divestment of Enchova, Pampo clusters

Petrobras, further to the Material Fact disclosed on July 28, 2017, and press release disclosed on Oct. 4, 2017, informs the start of the binding phase regarding the assignment of all of its exploration, development and production rights in Enchova and Pampo clusters, located in Rio de Janeiro state. ...

ExxonMobil pursues Ghana’s deepwater exploration acreage

Analysis of Ghana’s upstream oil and gas industry shows that the country currently has 21 licensed blocks, of which 14 are in the ultra-deepwater terrain, five are in shallow water, and two in deepwater, according to GlobalData, a leading data and analytics company. ...

Oklahoma toughens oil fracing rules as shale earthquakes climb

Oklahoma is tightening its rules for fracing after studying a new cluster of earthquakes in one of the hottest U.S. regions for drilling. ...

Energy slump is still holding back Canada's investment plans

Canadian business investment is being weighed down for a fourth straight year by weakness in Alberta’s energy industry. ...

Bibby Offshore successfully completes multi-million-pound contract for BP North Sea

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has successfully completed a contract worth more than £2million for BP in the North Sea. ...

Oil set for first monthly drop since August on U.S. supply fears

Oil is poised for its first monthly decline in half a year as January’s rally fades on growing fears over booming U.S. shale supply. ...

Oil-rich Nigeria's fuel scarcity weighs on Buhari's popularity

Lines of cars and trucks snaking around blocks in the center of the Nigerian capital, Abuja, highlight the state’s failure to fix a problem that’s bedeviled Africa’s biggest oil producer for decades: fuel shortages. ...

Mexican candidate's plan to build refineries raises eyebrows

Industry observers have serious doubts about the Mexican presidential front-runner’s plan to build new refineries that could cost $6 billion to $10 billion. ...

Koch said to cut oil-trading jobs from Asia, Europe, U.S.

Koch Supply and Trading is cutting jobs from its global oil business as one of the largest private U.S. companies contends with trading conditions that also proved tough for several rivals. ...

Trading `BOON' Pickens: Oil tycoon's spinoff fund seeks listing

Legendary oil tycoon T. Boone Pickens has closed his hedge fund, but the octogenarian’s name may live on on the New York Stock Exchange. ...

OPEC head to meet U.S. shale oil producers for dinner next week

The head of OPEC plans to dine with U.S. shale company executives on Monday in Houston, the second consecutive year that the secretary general has met with some of the cartel’s top rivals. ...

Crude slumps as `explosive' shale growth threatens supply cuts

Crude dropped the most in more than two weeks as the International Energy Agency warned about seemingly unstoppable U.S. shale production. ...

U.S. said to weigh Venezuelan oil sanctions before April vote

The U.S. is leaning toward imposing oil-sector sanctions on Venezuela before the country holds April 22 elections that opposition leaders have vowed to boycott, according to a senior State Department official. ...

Baker Institute expert: Mexico must address decline in its natural gas production

Private and state-owned companies, from producers to pipeline operators, and a solid governmental regulatory apparatus must now help guarantee the consistent supply of natural gas, said Adrian Duhalt, postdoctoral fellow in Mexico energy studies in the institute’s Mexico Center and Center for Energy Studies. ...

You don't need Asia to get $12 for your LNG

You don’t need to send your liquefied natural gas to Asia to get high prices. ...

Subsea 7 awarded EPCI contract for Wintershall's Nova field

Subsea 7 S.A. has announced the award of a sizeable contract by Wintershall for the Nova (formerly known as Skarfjell) oil and gas field development. ...

Wood Mackenzie says Delaware Wolfcamp still leads the pack – for now

The Delaware Wolfcamp has been the focus of much of the increase in Lower 48 drilling activity in the past 18 months. While breakevens continue to trend down and the play has attracted a number of new entrants, there are clear signs that growth is plateauing. ...

Aker Solutions wins subsea order for Nova project

Aker Solutions won an order from Wintershall Norge AS to provide the subsea production system, umbilicals and services for the Nova oil and gas field offshore Norway, highlighting the value of early engagement in projects. ...

Hidden pitfalls could impair America's hottest oilfield

The world’s hottest oil field, the Permian basin of West Texas and New Mexico, isn’t without its risks. ...

Oil halts three-day rally as U.S. stockpile data is awaited for cues

Oil slipped following a three-day rally as investors awaited U.S. inventory data after prices were lifted by an unexpected disruption in an OPEC member and a stock-market boom. ...

G3 Exploration reports progress at GGZ Block in southwest China

G3 Exploration Ltd., an independent specialist in the exploration and development of coal bed methane gas (CBM), with roots in China and a focus on international expansion, is pleased to provide a progress update of the exploration and development activities for its Baotian-Qingshan (GGZ)2 Block, situated in the Guizhou Province, China. ...

Exxon's remote Pacific gas workhorse shut after earthquake

Exxon Mobil shut its LNG export plant in Papua New Guinea after an earthquake cut supplies from the company’s upstream fields. ...

OPEC, Russia seen beating expectations on oil production cuts

OPEC, Russia and other oil producers participating in output cuts have beaten market expectations in meeting their commitments. ...

UK set to become net crude oil exporter

For all the talk of aging oil fields and shrinking production, the UK is about to achieve a surprising feat: it’s on the brink of becoming a net crude oil exporter for the first time in 14 years. ...

Statoil reports spud of first well at Oseberg Vestflanken 2

In the early hours of Sunday, Feb. 25 drilling started at Oseberg Vestflanken 2. On the Capital Markets Day on Feb. 7 the project could boast break-even reduction from $34 to $16/bbl. ...

Africa Energy Corp. announces two-year renewal for exploration offshore South Africa

Africa Energy Corp. has received notice from the Petroleum Agency of South Africa granting a two-year renewal of the Exploration Right for Block 2B offshore the Republic of South Africa. ...

U.S. ban on key oil material could choke Venezuelan production

The outlook for declining oil production in Venezuela may get grimmer if the U.S. bans supply of a key commodity used to help Venezuelan crude flow from oilfields to the coast. ...

Deep Sea Mooring commences offshore Trinidad project for Maersk Drilling

Deep Sea Mooring (DSM), a Vryhof company, has commenced operations in providing mooring equipment, design and marine supervisory services to Maersk Drilling in Trinidad. ...

Expro boosts downhole camera capabilities

Leading international oilfield services company, Expro, has enhanced its cased hole services offering, signing a global agreement with downhole video and camera technology specialist Vision iO. ...

Ghana weighs locking in oil prices to keep lid on inflation

Ghana may start locking in future prices for oil and petroleum imports from the end of March as it seeks to contain inflation, said Finance Minister Ken Ofori-Atta. ...

Shell sees potential LNG supply shortage as global demand surges

The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. ...

Big oil buyers ditch paper for Blockchain to track tanker sales

Every day, dozens of oil tankers -- some as long as five football fields -- set sail for ports around the world carrying millions of barrels of crude and a piece of paper that generations of sea captains have held as dear as their cargo. ...

Libya oil field's halt disrupts crude exports from key port

Libya’s oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months. ...

Giant oil ships from the U.S. to cut time, money and traders

Big oil tankers sailing from the U.S. are set to bring along some benefits for refiners in Asia while allowing them to sidestep traders serving the world’s top crude-buying region. ...

Exxon shuts Papua New Guinea output to inspect quake damage

Exxon Mobil has shut production platforms and a processing plant in the highlands of natural gas exporter Papua New Guinea after an earthquake struck the Pacific nation. ...

Emerald Bay Energy provides update on Kuhn 5 well, in South Texas

Emerald Bay Energy Inc. has provided the following update on the Company’s plans to drill the Kuhn 5 well at the Wooden Horse property in South Texas. As previously announced, the Kuhn 5 well location was chosen as Buda target. ...

Libya oil field halted amid still-fragile recovery

A Libyan oil field halted production due to a labor dispute, underscoring the still-fragile nature of the North African country’s recovery from a domestic conflict. ...

Schlumberger, Subsea 7 announce intent to form joint venture

Schlumberger and Subsea 7 S.A., have announced that they have entered into exclusive negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, which was established in 2015. ...

Polarcus secures extension of South American campaign

Reference is made to the stock exchange release issued on Dec. 16, 2015 in which Polarcus Limited announced an award for a 3D marine seismic project in South America. ...

Peterson, Port Cameron partner to develop deepwater staging port in Louisiana

Leading international energy logistics provider Peterson has signed a teaming partnership agreement with Port Cameron LLC, to develop a state-of-the-art port and supply base facility in the Gulf of Mexico. Peterson will provide logistics consultancy services to support the planning and initial development of Port Cameron, a 500-acre deepwater staging port situated in Cameron, Louisiana, serving the Gulf of Mexico. ...

Chesapeake surges as CEO keeps focus on cuts, asset sales

Chesapeake Energy Corp. shares jumped the most in almost two years, putting it on top of the SandP 500, after the shale explorer pledged to continue its push to cut spending and sell more assets in the year ahead. ...

Exxon, BHP axe lengthy sale of 50-year-old Australian oil fields

Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. ...

LNG rollercoaster seen getting wilder until China builds storage

The rollercoaster that drags liquefied natural gas prices higher as demand jumps in the northern hemisphere winter is going into overdrive. ...

Oil heads for second weekly gain after surprise stockpile drop

Oil headed for a second weekly increase as a surprise pullback in U.S. crude inventories compounded signs that a global glut is easing. ...

Kenya pipeline boosts oil-storage capacity by 22% with tanks

Kenya Pipeline Co. will spend 5.3 billion shillings ($52 million) building four new tanks that will increase its storage space by more than a fifth, Managing Director Joe Sang said. ...

What women really want on the job? Ask oil's only female CEO

Flexible working hours and maternity leave are all well and good, but what women really want is a fair chance to climb the corporate ladder. ...

Westwood highlights exploration hits, misses of 2017

A new report from Westwood Global Energy Group, the energy market research consultancy, has highlighted 10 potentially commercial discoveries in 2017 considered likely to be more than 100 MMboe. ...

EIA: Tight oil remains the leading source of future U.S. crude oil production

EIA’s recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the early 2040s, when it will surpass 8.2 MMbpd and account for nearly 70% of total U.S. production. ...

Borr Drilling goes from empty-handed to the largest jackup driller in just 16 months

Borr Drilling announced its intention to acquire Paragon Offshore after inking a binding tender agreement to purchase all outstanding shares for $232.5 million. With the acquisition, Borr gets their hands onto 31 jackups and one semisubmersible unit. ...

Rystad Energy: Borr Drilling goes from empty-handed to the largest jackup driller in just 16 months

Borr Drilling announced its intention to acquire Paragon Offshore after inking a binding tender agreement to purchase all outstanding shares for $232.5 million. With the acquisition, Borr gets their hands onto 31 jackups and one semisubmersible unit. With these and its existing fleet of 26 jackups, Borr will become the largest jackup owner in the world, with 57 jackups in total. ...

Egypt resolving dispute, holding up $15-billion Israel gas deal

Egypt said it was settling financial disputes with an Israeli electricity company and a key pipeline operator to turn a $15-billion deal to import gas from the Jewish state into reality. ...

GE, Noble Corp. launch world's first digital drilling vessel

Following the partnership formed by GE and Noble Corporation plc, the two companies launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency. ...

Abrado Wellbore Services awarded multi-string section milling PandA project in Trinidad

Abrado announced today that it has been awarded a multi-million-dollar dual-string section milling plug and abandonment project in Trinidad utilizing its proprietary Medusa cutting technology. ...

Supermajor awards Abrado Wellbore Services for multi-string section milling PandA project in Trinidad

Abrado announced today that it has been awarded a multi-million-dollar dual-string section milling plug and abandonment project in Trinidad utilizing its proprietary Medusa cutting technology. ...

Too hungry to pump oil, PDVSA crews skip work to hunt for food

At 6:40 a.m., Pablo Ruiz squats at the gate of a decaying refinery in Puerto La Cruz, Venezuela, steeling himself for eight Sisyphean hours of brushing anti-rust paint onto pipes under a burning sun. For breakfast, the 55-year-old drank corn-flour water. ...

U.S. oil boom tempts Saudis to consider American crude sale

Even Saudi Arabia wants in on the U.S. oil boom. ...

Halliburton facilities, business lines first in Angola to achieve API Q2 registration

Halliburton announced today that its Angolan facilities, Luanda – SONILS base, which incorporates the Cabinda – Malembo base and Soyo – Kwanda base facilities, and all of the company’s product service lines in those locations have received the American Petroleum Institute (API) Specification Q2 Registration. ...

Offshore oil recovery beginning in world's harshest environments

Explorers are once again testing the waters in their search for oil, according to Transocean Ltd., the world’s biggest offshore rig contractor by market value. ...

Essar Oilfields awarded drilling contract in India's Cambay basin

Essar Oilfields Services India Limited (EOSIL) today announced that it has been awarded a Rs 28-crore contract by Gas Authority of India Limited (GAIL) to drill three firm plus two optional wells in Gujarat’s Cambay basin. ...

Baker Hughes surges as GE says it's keeping stake through pact

Baker Hughes has cleared one obstacle on its recovery path. ...

SDX Energy's KSS-2 well disappoints in Morocco

SDX Energy Inc., the North Africa focused oil and gas company, announces that the KSS-2 well on the Sebou permit in Morocco was drilled to a TD of 1,293 m, encountering 8 net m of high quality reservoir interval in the Gaddari and Guebbas sequences with an average porosity of 30%. However, while the intervals came in on prognosis, they had low gas saturation and were not deemed to be commercial. ...

Schlumberger wins engineering, supply contract for Noble Energy's Leviathan platform

Schlumberger today announced the award by Noble Energy of an engineering and supply contract for a 2,000-ton single-lift process module to be installed on the Leviathan platform in the Eastern Mediterranean. ...

Siberian chill lifts gas enough to revive LNG trade in Europe

Europe’s liquefied natural gas dry spell may end thanks to a surprising cold snap. ...

Oil declines as spare U.S. supplies menace OPEC's anti-glut plan

Oil dropped as expanding U.S. stockpiles knocked the steam out of the OPEC-led effort to drain a worldwide glut. ...

Abrado completes rig-less dual-string section-milling PandA job in GOM

Abrado announced today that it has completed the first well in a multi-well PandA campaign for an independent GOM operator, using its proprietary Medusa expandable casing section-milling technology. ...

Billionaire Texas oilman Hildebrand steps down as Hilcorp Energy CEO

Hilcorp Energy Co. announced that its billionaire owner Jeff Hildebrand has stepped down as chief executive officer of the largest closely held U.S. oil explorer. ...

Danos completes offshore facility turnaround in Equatorial Guinea

Danos has successfully completed a turnaround comprising four client offshore facilities in Equatorial Guinea. ...

Sparrows Group re-awarded two five-year contracts from TAQA

Sparrows Group has been re-awarded two five-year contracts with TAQA to deliver crane operations, maintenance, rigging loft and fixed lifting inspection services to its UK Continental Shelf (UKCS) assets. ...

GEODynamics introduces specialized perforating systems for remedial cementing, circulation

GEODynamics has introduced ISOLOC plug and abandonment, specialized-perforating systems for remedial cementing and circulation. ...

Japaul Nigeria to receive $350-million funding from Milost

Japaul Oil and Maritime Services Plc, a Nigerian oil-services company, said it signed an agreement with private equity firm Milost Global Inc. for $350 million in shares and loans for business expansion. ...

Cyprus sees gas deal with Egypt as Cairo weighs Israeli supply

Cyprus is nearing an agreement to sell natural gas to Egypt, marking the second potential supply deal in as many days with the North African country vying to position itself as a regional energy hub after the startup of the giant offshore Zohr field. ...

Investors bail on landlocked Canada oil as pipeline woes deepen

Canada’s energy companies can’t get any love, even from many Canadians. ...

LOOP completes first VLCC crude oil loading operation

LOOP LLC has successfully completed the first very large crude carrier (VLCC) crude oil loading operation at its Deepwater Port, 18 mi offshore of Port Fourchon, La. ...

Trinidad Drilling considers sale as Canadian EandP activity slumps

Trinidad Drilling Ltd., which provides contract drilling services in North America and the Middle East, is considering selling itself as years of slumping drilling activity in Canada weighs on revenue. ...

Shell shows interest in BHP assets amid plans to expand in shale

Royal Dutch Shell Plc said it’s potentially interested in BHP Billiton Ltd.’s oil assets on sale in the Permian basin in the U.S. as it seeks to boost its role in shale. ...

Anadarko announces Mozambique LNG sale and purchase agreement

Anadarko Petroleum Corporation (NYSE: APC) today announced Mozambique LNG1 Company Pte. Ltd., the jointly owned sales entity of the Mozambique Area 1 co-venturers, has entered into a long-term LNG Sale and Purchase Agreement (SPA) with Électricité de France, S.A., (EDF). ...

BHP sees faster shale sale in race to exit $10-billion unit

BHP Billiton Ltd. is accelerating plans to exit its $10-billion U.S. shale unit, flagging that deals could be announced before the end of the year. ...

U.S. oil costly again as it's stored less and shipped more

Dwindling volumes at the biggest U.S. oil storage hub and the potential for bigger cargoes to sail overseas is giving American crude a premium sheen once again. ...

Brent drops from two-week high as U.S. warns of "phenomenal" surge

Brent crude fell from a two-week high as the market weighed forecasts for a surge in U.S. production against OPEC’s success in accelerating the pace of draining a global glut. ...

Eco Oil and Gas announces acquisition of minority interest in Guyana subsidiary

Eco (Atlantic) Oil and Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is pleased to announce that Eco (Guyana) Oil and Gas (Barbados) Ltd. (Eco Barbados), a wholly owned subsidiary of the Company, has agreed to acquire the remaining 6% interest in Eco (Atlantic) Guyana Inc. (Eco Guyana), following which Eco Guyana will become a wholly owned subsidiary of the company. ...

Wood wins five-year engineering services contract supporting INPEX in Australia

Wood has been awarded the brownfield engineering services contract for the INPEX-operated Ichthys offshore facilities, located 220 km off the coast of Western Australia and onshore liquefied natural gas (LNG) processing facilities in Darwin, Northern Territory. ...

Wood wins five-year engineering services contract supporting INPEX in Australia

Wood has been awarded the brownfield engineering services contract for the INPEX-operated Ichthys offshore facilities, located 220 km off the coast of Western Australia and onshore liquefied natural gas (LNG) processing facilities in Darwin, Northern Territory. ...

OPEC member hopes for alliance with Russia that lasts “forever”

OPEC’s fourth-largest oil producer is leading an effort to prolong cooperation with Russia and other allies far beyond the expiry of their joint supply cuts this year. ...

Egypt's potential gas surplus could feed global LNG glut

Egypt faces a possible over-abundance of natural gas after two Israeli companies proposed a $15 billion supply deal. ...

OPEC, Russia said to see oil glut dissipating at a faster rate

The latest discussions between OPEC and its oil-producer allies concluded that the supply glut is dissipating at a faster pace than previously anticipated, say people familiar with the matter. ...

Natural gas industry surprised it could be so much cleaner

The natural gas industry may be one of its own worst enemies. ...

Oil climbs above $62 amid producer promises to support markets

Crude climbed above $62/bbl for the first time in more than a week as an alliance of some of the world’s largest oil producers signaled further cooperation to tighten supplies through the end of the year. ...

Interior sets date for largest oil, gas lease sale in U.S. history

In support of President Donald J. Trump's ‘America-First Offshore Energy Strategy,’ Deputy Secretary of the Interior David Bernhardt announced that the Department will offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida for oil and gas exploration and development. ...

Noble Energy announces execution of gas sales agreements for export of gas to Egypt

Noble Energy, Inc., has announced that it has signed agreements to sell significant quantities of natural gas from Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. ...

Merkel defends Russian gas link expansion protested by Poland

German Chancellor Angela Merkel threw her country’s weight behind the Nord Stream 2 gas pipeline from Russia, boosting the chances that the controversial link will become reality. ...

Harvest Natural Resources sues ex-oil chief over bribe demands

Former Venezuelan oil minister Rafael Ramirez, already accused of corruption by his own country, now faces a lawsuit from a Houston energy firm alleging that it lost almost half a billion dollars over its refusal to pay bribes for contracts. ...

The Philippines in talks with China for joint sea exploration

The Philippines and China are in talks to jointly pursue oil and gas exploration in disputed waters of the South China Sea, Foreign Affairs Secretary Alan Peter Cayetano said Friday. ...

Indonesia eyes European, U.S. oil giants for investment bids

Indonesia will hold roadshows in the U.S. and Europe later this month to lure investments from the world’s top energy companies as the former OPEC member seeks to reverse a decline in oil and gas production. ...

Abu Dhabi broadens oil partnerships in $1.5-billion Cepsa deal

Abu Dhabi’s selection of a Spanish company to help it develop offshore oil fields is a sign of the Gulf producer’s push to diversify its partnerships while working to boost production capacity and secure long-term markets for crude. ...

Noble, Delek sign $15 billion deal to export Israel gas to Egypt

Noble Energy Inc. and Delek Drilling-LP, the lead partners in Israel’s largest gas fields, said they signed a $15 billion agreement to export gas to Egypt’s Dolphinus Holdings. ...

Once OPEC's oil-price dove, Saudi Arabia takes a harder line

For decades, Saudi Arabia was the voice of moderation within OPEC, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. ...

U.S. oil exports go up a gear as supertanker sets sail for China

The flood of U.S. oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments. ...

Noble group flags $5 billion loss as debt-deal endgame nears

Noble Group warned that it will report another vast loss including from the operations meant to sustain a revamped business. ...

Mexico officially joins IEA as 30th member country

Mexico officially became the International Energy Agency's 30th member country on Feb. 17, 2018, and its first member in Latin America. ...

Oil CEOs urge Norway to throw a lifeline to carbon capture

Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage technology that is stagnating amid concerns about whether it can ever be cost-effective. ...

Oil heads for weekly rise as stocks recover, dollar flounders

Oil headed for its first weekly increase since last month as rebounding equity markets eased concern about economic growth and a weakening dollar boosted the allure of commodities priced in the U.S. currency. ...

Fieldwood Energy files for Chapter 11 bankruptcy relief

Fieldwood Energy LLC announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas as part of a "prepackaged" chapter 11 case. ...

Lukoil reports year-end 2017 reserves estimate

Lukoil announced today the results of the oil and gas reserves assessment and independent audit as of Dec. 31, 2017. According to the SEC (U.S. Securities and Exchange Commission) standards, the Company's proved hydrocarbon reserves totaled 16.0 Bboe, 75% of which were oil reserves. ...

Foothills Exploration reports successful completion, flow testing of horizontal well in Utah

Foothills Exploration, Inc., an independent oil and gas exploration company engaged in the acquisition and development of oil and gas properties in the Rockies, reported today the successful drilling, completion and flow testing of the Stagecoach 111-20H horizontal well, now producing natural gas in commercial quantities. ...

Aker Solutions to collaborate with Cognite, strengthening digital offering

Aker Solutions agreed on a long-term collaboration with software company Cognite to accelerate the development of digital solutions that will drive major efficiencies through the entire life of an energy asset. ...

Hydrawell to execute PandA at Absheron field, in the Caspian Sea

Total EandP Absheron B.V. (Total), acting as operator for and on behalf of a consortium presently composed of Total EandP Absheron B.V. (50%) and Socar Absheron LLC (50%) has tasked HydraWell to execute a part of plug and abandonment campaign at Absheron field, in the Caspian Sea. ...

OPEC considers moving the goalposts - here's where they might go

After a year of production cuts, OPEC and Russia are finally near their goal of shrinking the world’s swollen oil inventories. So why are they planning to change their target? ...

There's more to majors than oil, Total tells $1 trillion fund

Norway’s $1 trillion sovereign wealth fund wants to sell out of oil and gas stocks, arguing that would reduce overall risk to the country since petroleum is already the top export. ...

Deloitte: Industry exercises caution with MandA, though trend is changing

Deloitte forecasts that although the oil and gas industry may be in love with the recent rise in commodity prices it is still exercising some caution when it comes to MandA activity, but that is changing. ...

Cenovus CEO sees more Deep basin asset sales, but no full exit

Cenovus Energy Inc. CEO Alex Pourbaix said the oil-sands producer will consider selling more of its holdings in Alberta’s Deep basin -- but not exiting the play entirely -- to speed up efforts to repair its balance sheet. ...

New software puts real-time drilling monitoring in reach

Software puts real-time drilling monitoring in reach Proactive Real Time Systems (PRTS) has launched its new software product called the Real-Time Advisory System (RTAS). ...

Venezuela plight has U.S. rushing for heavy UK crude

Oil refineries in the U.S. Gulf of Mexico are buying the most crude from the UK North Sea in more than seven years as they scramble to replace lost supplies from Venezuela. ...

Neptune Energy completes acquisition of Engie EandP

Neptune Energy Group has announced the completion of the acquisition of Engie EandP International SA (EPI). ...

Noble Energy exits Gulf of Mexico with $710-million sale of assets

Noble Energy, Inc., has announced that its board of directors has authorized a $750-million share repurchase program. In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC for a total value of $710 million. ...

Rail crunch leaves oil, wheat stranded out on Canada's prairies

A shortage of rail cars in Canada is leaving grain and oil shipments stranded on the prairies, sending crude prices plummeting and leaving farmers in a cash crunch. ...

NERA announces funding for subsea equipment reliability project

National Energy Resources Australia (NERA) is supporting the Transforming Australia Subsea Equipment Reliability (TASER) project, led by Wood and in collaboration with Chevron, Shell and Woodside, by providing AUD $145,000 of funding over two years. ...

OGIC to strengthen innovation ties with China

A selection of Scotland’s leading oil and gas research and development institutions will be heading to China next month (March 5-10) to strengthen ties, share knowledge and increase business opportunities with leading innovation houses in Beijing. ...

Africa's top oil producer poised to give OPEC an output headache

Add independent Nigerian drillers to the list of oil producers itching to supply more crude at a time when OPEC and allies like Russia are trying to restrict output and prop up prices. ...

Oil trades near one-week high as stockpile gains slow down

Oil in New York traded near a one-week high as improving sentiment in equities spilled over into crude and American stockpiles increased slower than forecast. ...

Saudis says OPEC may need new way to count oil stockpiles

OPEC will soon discuss with Russia a new way to measure oil stockpiles, with the Saudi Energy Minister saying that finding reliable inventory data has been a challenge to more than a year of oil-output cuts meant to curb the global glut. ...

Russians, Saudis may go beyond oil alliance with LNG project

Russia and Saudi Arabia are seeking ways to amplify the success they’ve had working together to manage the oil market by reaching new energy deals, including one on liquefied natural gas. ...

Keystone XL on hold, TransCanada turns to natural gas system

While TransCanada Corp. continues to weigh whether to build its long-delayed Keystone XL oil pipeline, the company announced another major expansion of its natural gas system in Alberta. ...

East Canada’s Noia says more clarity required on new environmental assessment legislation

Following its successful Annual General Meeting (AGM) held yesterday, the Newfoundland and Labrador Oil and Gas Industries Association, Noia, states the Association will continue to seek clarity on proposed environmental assessment legislation announced by the federal government on Feb. 8, 2018. ...

OPEC, Russia to discuss new oil-inventory measurements in April

OPEC will soon discuss with Russia a new way to measure oil inventories as producers meet to review their supply-cuts agreement that expires at the end of 2018. ...

Zion Oil and Gas encounters oil onshore Israel

Zion Oil and Gas, Inc., announces that during the current open hole wireline logging and subsequent reaming (cleaning the well bore) operations, Zion encountered free-flowing hydrocarbons while circulating drilling mud. ...

Linn Energy announces sale of West Texas properties for $119.5 million

Linn Energy, Inc., announces that it has signed a definitive agreement to sell its interest in conventional properties located in west Texas to an undisclosed buyer for a contract price of $119.5 million, subject to closing adjustments. ...

ONGC reports explosion on Sagar Bhushan drillship

A blast was reported on ONGC drillship Sagar Bhushan at 9.15 a.m. yesterday, at Cochin Shipyard where it has been dry docking since Dec. 7, 2017. ...

Norway, Russia sent record gas volumes to Europe in 2017, Rystad says

Gas exports to Europe from both Russia and Norway climbed to record levels in 2017, according to fresh analysis by Rystad Energy. Russian and Norwegian gas exports to Europe (including Turkey) reached 194 Bcm and 122 Bcm, respectively, in 2017. ...

Rosneft increased proved hydrocarbon reserves by 6% in 2017

As of Dec. 31, 2017, the Rosneft's SEC (United States Securities and Exchange Commission) proved hydrocarbon reserves achieved 39,907 MMboe. The hydrocarbon reserves increased by 2,135 MMboe or by 6% compared to the reserves at the end of 2016. ...

NOV develops top-drive upgrade for cost-effective performance upgrades in the Permian

Demand in the Permian basin for cost-effective ways of improving performance continues to increase. While a simple solution might involve purchasing entirely new equipment, in many cases this isn’t feasible due to both current constraints on capital expenditures and unacceptable downtime caused by long lead times for newbuilds. To address this issue, National Oilwell Varco (NOV) developed an upgrade package—the TDS-11SAE—for its top drives to elevate their performance beyond standard levels. ...

Weatherford releases production optimization software

Weatherford International plc today announced a new software release for its ForeSite production optimization platform, which combines physics-based models with advanced machine-learning data analytics to improve performance across conventional and unconventional oil and gas assets. ...

What LNG traders want to know most is if China surprises again

China’s winter liquefied natural gas binge sent prices to three-year highs, left European terminals largely idle and pulled in ships halfway around the world from Louisiana to the Pacific region. ...

Oil near seven-week low on signs U.S. stockpiles rose a third week

Oil traded near its lowest closing level in seven weeks in New York as signs of rising U.S. crude stockpiles fanned concern of a new surge in shale-oil production. ...

Hurricane Energy announces successful trial fit testing of buoy, FPSO turret at Lancaster field

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to provide an operational update on activities related to the Early Production System at Lancaster field (Lancaster EPS). ...

Sparrows Group awarded three-year crane and deck services contract by BP in Angola

BP has awarded Sparrows Group a three-year contract to manage crane operations and maintenance, and deck services off the coast of Angola. ...

Weatherford announces production optimization software for gas lift, ESP systems

Weatherford International plc today announced a new software release for its ForeSite production optimization platform, which combines physics-based models with advanced machine-learning data analytics to improve performance across conventional and unconventional oil and gas assets. ...

Woodside crafts new LNG expansion plan after striking Exxon deal

Australia’s Woodside Petroleum finally got what it wanted from Exxon Mobil. And it only cost $744 million. ...

Russia, Saudis may go beyond their oil alliance with LNG deal

Russia and Saudi Arabia are seeking ways to amplify the success they’ve had working together to manage the oil market by reaching new energy agreements, including one on liquefied natural gas. ...

TAG Oil reports potential oil pay in New Zealand's Taranaki basin

TAG Oil Ltd. has provided a positive update on its Pukatea-1 exploration well, which was spudded on Jan. 24, 2018. The Pukatea-1 well is located in TAG Oil’s operated Puka permit (PEP 51135, 70% TAG Oil) in the Taranaki basin of New Zealand. ...

Crude resumes slide as shale threat to OPEC-led restraint grows

Crude fell for the seventh time in eight days as gushing U.S. shale oil production threatened to drown an OPEC-led effort to snuff out a worldwide glut. ...

Statoil awards Kværner the contract for the Johan Castberg topsides

The contract includes the construction and installation of the topside structure for the floating production, storage and offloading vessel (FPSO) to be located on the Johan Castberg field in the Barents Sea. The contract has a total value of about NOK 3.8 billion. ...

BNK Petroleum spuds WLC 14-1H well in Tishomingo field

BNK Petroleum Inc. has announced that the Company has drilled and set casing on the Glenn16-2H well and begun drilling the WLC 14-1H well in Tishomingo field. ...

Venezuela's oil output crash is costly for U.S. refiners

U.S. Gulf Coast refiners are paying the price for shrinking Venezuelan crude output. ...

Aker Solutions to deliver modules for Johan Castberg FPSO

Aker Solutions will as a subcontractor of Kvaerner deliver modules for the floating production, storage and offloading (FPSO) vessel for the Statoil-operated Johan Castberg development, the largest oil discovery in the Norwegian Barents Sea. ...

America's supertanker terminal set to export oil for first time

The flood of crude leaving the U.S. could be about to get a major boost: the nation’s top imports terminal is testing one of the industry’s biggest tankers to load an export cargo for the first time. ...

IEA says OPEC almost cleared oil glut but shale risk looms

OPEC and its allies have almost achieved their goal of clearing an oil glut, but their efforts could be derailed by rising supplies from the U.S. and other rivals, the IEA said. ...

Exxon sues the suers in fierce bid to defeat climate lawsuits

As climate-change lawsuits against the oil industry mount, Exxon Mobil Corp. is taking a bare-knuckle approach rarely seen in legal disputes: It’s going after the lawyers who are suing it. ...

Crude halts decline as demand seen burning through shale output

Crude edged higher after the worst weekly decline in two years as OPEC shrugged off the threat that U.S. shale drillers will swamp the market with excess supplies. ...

Oil bulls run scared in global volatility as U.S. rivals Saudis

Oil enthusiasts are retreating as volatility takes hold of global markets and American gushers rival Saudi Arabia’s. ...

Major milestone achieved for BP-operated Tortue/Ahmeyim gas project

BP today confirmed that a key agreement between the governments of Mauritania and Senegal, which will enable the development of the BP-operated Tortue/Ahmeyim gas project to continue to move towards a final investment decision, has been signed by the two governments. ...

BP begins production from Egypt’s Atoll gas field ahead of schedule

BP today announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate. ...

Sound Energy announces eight-year Sidi Moktar petroleum agreement

Sound Energy, the Morocco focused upstream gas company, has announced the award of an eight-year petroleum agreement relating to the area currently covered by the Sidi Moktar onshore exploration permits in the Essaouira basin, central Morocco (Sidi Moktar). ...

Indian companies pay $600 million for stake in Abu Dhabi oil concession

Indian companies agreed to pay $600 million for a stake in one of Abu Dhabi’s biggest offshore oil concessions, securing a share in the emirate’s crude production for the first time. ...

Booming Asian gas demand ripples all the way to Norway

Asia’s rapacious thirst for liquefied natural gas is sucking supplies from surprising places. ...

Faroe Petroleum divests 17.5% stake in Fenja development

Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce that it has executed a transaction with Suncor Energy Norge AS (Suncor) for the sale of a 17.5% working interest in the Fenja development, located in PL586 in the Norwegian Sea. ...

Echo Energy announces onshore Argentina work program

Echo Energy plc, the South and Central American focused upstream oil and gas company, is pleased to announce its 2018 work program, onshore Argentina. ...

Wood wins new contract delivering mega-project for Saudi Aramco

Wood has secured a new multi-million-dollar, five-year contract to support Saudi Aramco in the delivery of one of its mega-projects in the Kingdom of Saudi Arabia. ...

India's oil consumption grows at fastest pace in 14 months

Oil demand in India rose 10.3% in the first month of 2018, the fourth straight monthly gain. ...

As oil falters, fuel that drove bull run continues cruising

Oil investors rattled by the threat of U.S. output can find some cheer from diesel demand in Asia. ...

OPEC president says shale surge won't thwart plan to clear glut

Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president. ...

NAPE ‘18: Texas Railroad Commissioner Ryan Sitton forecasts strong U.S. supply growth to meet demand

As murmurs of peak oil demand pervade the oil and gas industry, Texas Railroad Commissioner Ryan Sitton sees a different trend—rising production from the U.S. to meet inflating demand from non-OECD countries like China and India. ...

API: Florida Petroleum Council says offshore exploration beneficial to Florida's economy

Florida Petroleum Council Executive Director David Mica today pointed to Florida’s significant economic opportunity to safely and responsibly develop Florida’s offshore energy resources in advance of the Bureau of Ocean Energy Management public hearing on the Interior Department’s proposed five-year offshore natural gas and oil leasing plan. ...

ExxonMobil adds 2.7 Bbbl to reserves, replaces 183% of 2017 production

ExxonMobil Corporation has added 2.7 Bboe of proved oil and gas reserves in 2017, replacing 183% of production. ...

Total-led consortium enters Lebanon with two deepwater EandP contracts

Total-led international consortium (Total 40%, ENI 40%, Novatek 20%) signed two Exploration and Production Agreements (EPA) with the Republic of Lebanon, covering Blocks 4 and 9, located in the deep waters offshore Lebanon. ...

Eni enters Lebanon with two deepwater EandP contracts

Eni has signed two Exploration and Production Agreements (EPA) with the Republic of Lebanon, covering Blocks 4 and 9, located in the deep waters offshore Lebanon. ...

China ends 25-year wait as yuan oil futures to start trading

After a wait of about a quarter of a century, the world’s biggest oil buyer is finally getting its own crude-futures contract. ...

Oil set for worst week in year as rout inflames U.S. supply fear

Oil headed toward its worst week in almost a year as the global risk-asset rout further rankled investors already concerned over growing U.S. supply. ...

Enpro Subsea wins frame agreement, supporting Tullow Oil in West Africa

Production optimization specialist company Enpro Subsea has been awarded a frame agreement contract to support leading multinational exploration and production (EandP) company Tullow Oil as part of the operator’s strategic activities in Ghana. ...

New subsea technology could generate £3 billion from the North Sea, Wood Mac says

Wood Mackenzie and the Oil and Gas Technology Centre announced today that developing new subsea technology and approaches to field developments could help unlock an additional 400 MMbbl of oil and gas and generate £3 billion of additional value. ...

Cenovus reports fatality at Christina Lake oil sands site

Cenovus Energy Inc. is deeply saddened to report that there has been a fatality at the company’s Christina Lake oil sands site, which is located about 350 km northeast of Edmonton. ...

ICON delivers its first field development work in West Africa

Australian offshore engineer, ICON Engineering, has delivered its first field development work in West Africa, supporting the planning for a wellhead platform and processing facilities. ...

U.S. oil reserve would fall by nearly half under budget deal

The U.S. is poised to sell half of its emergency oil reserves to help pay its bills, something critics say defies the reason the stockpile was created decades ago as a hedge against supply disruptions. ...

Fracing earthquakes pop up in unexpected corner of shale patch

The oil prospectors of Oklahoma, it appeared, finally had a solution to their earthquake problem. ...

Fracking earthquakes pop up in unexpected corner of shale patch

The oil prospectors of Oklahoma, it appeared, finally had a solution to their earthquake problem. ...

U.S. oil reserve would fall nearly in half under budget deal

The U.S. is poised to sell half of its emergency oil reserves to help pay its bills, something critics say defies the reason the stockpile was created decades ago as a hedge against supply disruptions. ...

Weatherford collaboration software enables single-trip casing exit at Russia's Sakhalin

Weatherford International plc today announced the successful execution of a shallow-angle casing exit in Sakhalin Island, Russia, using the AccuView real-time remote support system. ...

CGG, Ardiseis complete highest-density seismic survey ever acquired

CGG, its technology partner, and Ardiseis, subsidiary of the Arabian Geophysical and Surveying Company (ARGAS), the Middle East’s seismic acquisition specialist, have announced the successful completion of the world’s highest-density broadband seismic survey ever acquired onshore or offshore. ...

Weatherford collaboration software enables single-trip casing exit at Russia's Sakhalin field

Weatherford International plc today announced the successful execution of a shallow-angle casing exit in Sakhalin Island, Russia, using the AccuView real-time remote support system. ...

Sound Energy provides operational update on Morocco work program

Sound Energy, the Moroccan upstream gas company, is pleased to provide details of its 2018 work program and an update on the Company's acquisition of geophysical and geological data in Eastern Morocco. ...

Sound Energy provides operational update on Morocco work program

Sound Energy, the Moroccan upstream gas company, is pleased to provide details of its 2018 work program and an update on the Company's acquisition of geophysical and geological data in Eastern Morocco. ...

DNO ramping up Kurdistan investments, reports strong 2017 results

DNO ASA, the Norwegian oil and gas operator, today announced a 50% hike in 2018 spending in the Kurdistan region of Iraq to $250 million net to the Company on the back of higher revenues and regular export payments. ...

Aker Solutions wins services contract from Petrobras in Brazil

Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market. ...

Poland bets on LNG, Norway gas as divorce with Russia looms

Russia’s oldest natural gas buyer is ready to break up after more than 74 years. ...

Mozambique approves Anadarko's $20-billion natural gas plan

Mozambique’s council of ministers approved the development plan for Anadarko Petroleum Corp.’s liquefied natural-gas project in the north of the nation, an investment estimated at about $20 billion. ...

Crude declines as growth in shale production scares investors

Crude resumed its decline as growth in U.S. shale output acts as a downside price risk. ...

New bill halves share of oil income for Kenya communities

Kenya halved the amount of revenue it will distribute to local communities once commercial oil production starts, setting up a potential dispute with residents of its economically deprived northern Turkana region. ...

North Sea pipeline resumes after second halt in two months

The North Sea’s Forties Pipeline System -- one of the world’s most important crude oil conduits -- resumed overnight after a short halt, coming on the heels of a more significant stoppage in December. ...

Eni reports "Zohr like" discovery offshore Cyprus

Eni has made a lean gas discovery in Block 6, offshore Cyprus with Calypso 1 NFW. ...

Oil majors reward investors after crude's rally revives profit

As oil’s existential crisis recedes, it’s bringing happier times for some shareholders. ...

Oil extends biggest drop in two months as dollar and shale weigh

Oil fell for a fifth day as surging U.S. output and a rising dollar sent crude to its biggest drop in two months. ...

U.S. gas drillers are missing out on Asia's oil-driven boom

If you’re producing natural gas in the U.S., you’re probably missing out on Asia’s boom. ...

New rail terminal opened in Louisiana to support proppant transport for shale

Shale Support Holdings, LLC, a leading provider of frac sands and logistical solutions to the oil and gas proppant market, has announced its newest exclusive terminal located in Gibsland, La. ...

U.S. gas drillers are missing out on Asia's oil-driven cash boom

If you’re pumping natural gas in the U.S., you’re probably missing out on Asia’s boom. ...

Venezuela oil sanctions more likely as Tillerson tours region

U.S. Secretary of State Rex Tillerson signaled the U.S. is closer to imposing sanctions on Venezuela’s oil sector, raising the pressure on President Nicolas Maduro as his talks with opposition leaders remained at an impasse. ...

Hexion announces first mobile Permian basin resin coating plant

The Oilfield Technology Group (OTG) of Hexion Inc. (Hexion) today announced its new Voyager mobile resin coating service. Initially located in the Permian basin, the innovative Voyager service is the first mobile manufacturing solution that provides in-basin resin coated proppant manufacturing for application in the oil and gas industry. ...

TGS announces new seismic project in the Anadarko basin

TGS announces expansion of its 2018 onshore seismic activity with the Canton 3D seismic survey in the Anadarko basin. ...

Africa Oil Corp. provides update on operations in Kenya's South Lokichar basin

Africa Oil Corp. (AOC) is pleased to provide the following update on activities in the South Lokichar basin (Blocks 10BB and 13T in Kenya). ...

Statoil granted drilling permit for wildcat on Norway's PL 167

The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 16/1-29 S, cf. Section 15 of the Resource Management Regulations. ...

Statoil increases value of Johan Sverdrup

Statoil and partners further increase the value of the Johan Sverdrup field as a result of continued high quality in project execution, good drilling efficiency and further maturation of the resource base. ...

Oil drops as volatility concern counters reported inventory draw

Oil extended declines as persistent volatility in global markets prompted caution among traders, even as U.S. inventories reportedly fell. ...

Europe's frozen relationship with Gazprom shows signs of thawing

A rapprochement is emerging between the European Union and its biggest natural gas supplier. ...

ONGC said to plan $4.8-billion Indian Oil, GAIL stake sale

Oil and Natural Gas Corp. plans to sell its holding in two state-run energy companies within a year to repay debt it raised to fund the purchase of the Indian government’s stake in Hindustan Petroleum Corp., according to people with knowledge of the matter. ...

Wall Street analysts to Exxon: What's with the silent treatment?

For at least a decade, Exxon’s top executives haven’t taken questions from Wall Street analysts during quarterly conference calls. Instead, Exxon only fields its vice president for investor relations, a unique practice among the top 10 SandP 500 Index companies and rival oil majors Royal Dutch Shell, Chevron, BP and Total. ...

Oil world turned upside down as America sells oil in Middle East

The UAE, a model petro-state where crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil. ...

U.S. crude output to jump above 11 MMbpd sooner than expected

The U.S. government sees nationwide oil production jumping above 11 MMbpd much quicker than anticipated. ...

Crude pares losses as smoke clears from equities implosion

Oil pared some of its losses as a historic collapse in stock markets began to peter out. ...

Iran orders armed forces to sell all energy, business assets

Iran’s armed forces, some of which are under U.S. sanctions, must divest from energy assets and other businesses to help save the Persian Gulf nation’s economy, President Hassan Rouhani said. ...

Total, Mitsui O.S.K. Lines sign long-term charter contract for pioneer LNG bunker vessel

Total Marine Fuels Global Solutions (TMFGS) and Mitsui O.S.K. Lines, Ltd. (MOL) have signed a long-term charter contract for a large LNG bunker vessel of 18,600 m³, to be delivered in 2020. ...

Petrofac awarded follow-on well decommissioning project

Petrofac has been appointed to provide outsourced well operator services on the next phase of Tullow Oil’s Thames Decommissioning project, following the award of a new multi-million-dollar contract. ...

Gazprom Neft reports 26% year-on-year increase in net profit for 2017

Gazprom Neft today publishes preliminary consolidated IFRS financial statements for the 12 months ended Dec. 31, 2017. ...

High flowrate obtained at Gazprom Neft's Vostochno-Messoyakhskoye field

Messoyakhaneftegaz, the Rosneft—Gazprom Neft joint venture, has completed construction of its first deep-strata horizontal production well at Vostochno-Messoyakhskoye field, with initial inflow of 250 tonnes of oil per day, confirming the high potential of developing the deep strata of Messoyakha fields. ...

Quantico Energy Solutions, Target announce technology alliance

Quantico Energy Solutions, a leader in artificial intelligence (AI) solutions for the Upstream segment of the oil and gas industry, and TARGET, an oilfield services company specializing in digital transformation technology and enablement, today announced a strategic alliance to leverage their respective technology offerings in data management, geoscience consulting and artificial intelligence solutions for the global oil and gas industry. ...

Royal IHC hits first milestones for Subsea 7 reel lay vessel

Royal IHC has successfully passed the first significant milestones in the design and build process of an integrated reel lay vessel for Subsea 7. ...

Emerald Bay Energy begins testing the Eagle Ford formation at Kuhn 3

Emerald Bay Energy Inc. announced that the Company moved a service rig on location today to perforate the Eagle Ford formation in the Kuhn 3 well at the Company’s Wooden Horse property in Southwest Texas. ...

Promised land for gas drillers turns into glutted beach

Natural gas producers who last week were basking in the strongest price environment in almost a quarter century are getting crushed. ...

Halliburton takes fracing fight from oil field to patent office

Halliburton isn’t content to limit its battle for market share with Schlumberger to the oil field these days. ...

Halliburton takes fracking fight from oil field to patent office

Halliburton isn’t content to limit its battle for market share with Schlumberger to the oil field these days. ...

BP dodges oil-industry gloom as profit jumps with production

BP dodged the disappointment that afflicted other oil-company earnings as it did a better job of exploiting the upswing in crude prices. ...

Total acquires exploration rights in the Guyana basin

Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. ...

Exxon stock rout deepens to worst since 2015 after earnings miss

ExxonMobil Corp. is on course for its steepest two-day stock rout in almost 2 1/2 years. ...

Oil slides as stock markets crumble, shale drilling accelerates

Oil’s decline accelerated as the deepening slump in equity and debt markets undermined the outlook for energy demand against the backdrop of swelling U.S. crude production. ...

U.S. potential ban on Venezuelan oil may hit Valero, Chevron hardest

If the U.S. bans oil imports from Venezuela, Valero Energy Corp. and Chevron Corp. may end up paying the price. ...

Aramco's Asia light oil pricing steady in sign of slower demand

Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand. ...

Iran can boost output fast if OPEC ends cuts, oil minister says

Iran can swiftly increase production of crude if OPEC decides to scrap limits on global output when the group meets next in June, Oil Minister Bijan Namdar Zanganeh said. ...

Brent slips to one-month low as U.S. drilling grows, stocks drop

Oil’s rally is unraveling on fears over an increase in U.S. production and as a deepening slump in equities undermines market support. ...

Permian seen second to Saudis for spare oil-output capacity

The U.S.’s Permian basin is looking like Saudi Arabia, with as much as 1 MMbbl of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. ...

Fraying Israel-Turkey ties threaten planned natural gas venture

A U.S.-backed initiative to build an undersea natural gas pipeline between Israel and Turkey looks increasingly troubled as Turkish President Recep Tayyip Erdogan escalates his public denunciations of the Jewish state. ...

India's ONGC said to expect delays in its biggest project

Oil and Natural Gas Corp. is facing a delay of at least a year in starting production from its biggest project, according to people with knowledge of the matter. ...

Rockhopper Exploration, Diamond Offshore sign Letter of Intent for Sea Lion Phase 1

Rockhopper Exploration plc, the oil and gas company with key interests in the North Falkland basin and the Greater Mediterranean region, is pleased to provide the following update relating to Sea Lion Phase 1, in the North Falkland basin (RKH 40% working interest). ...

Faroe Petroleum commences drilling of Fogelberg appraisal well

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 Fogelberg appraisal well and contingent sidetrack 6506/9-4S and4A in the Norwegian North Sea (Faroe 28.3%). ...

Otto Energy provides update on SM 71 project in the Gulf of Mexico

Otto Energy Limited has advised that the Ensco 68 drilling rig has been repositioned over the SM 71 F1 well and operations to complete the F1 as a producing well in the D5 Sand have begun. This marks the end of drilling operations which began in early December 2017. ...

Qatar Petroleum signs agreement for exploration in South Africa

Qatar Petroleum entered into an agreement with Total of France to acquire a 25% participating interest in the Exploration Block 11B/12B, offshore South Africa. ...

TechnipFMC, Island Offshore enter into strategic collaboration agreement

TechnipFMC has signed an agreement with the Island Offshore group to acquire a 51% stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS. ...

One of the oldest oil fortunes weighs fossil fuel exit

The guardian of one of the world’s first oil fortunes, made by striking exploration deals across the Middle East a century ago, said it’s holding talks about the sale of its investments in fossil fuels. ...

Strengthening dollar, weakening stocks add to shale oil worries

After its best January since 2006, the oil market is set to wrap up the week on a slump as a stronger dollar and weaker stocks added to concerns over booming shale production. ...

'Oil-for-loan' deals partly to blame for Venezuela's economic spiral

China’s role in Venezuela, including oil-for-loan deals, is partly to blame for the South American country’s shrinking economy and the international community will probably shoulder the costs, U.S. Treasury Under Secretary for International Affairs David Malpass said. ...

United States Oil Fund generates returns for investors as backwardation booms

This year is proving to be a lot better for investors of the biggest exchange-traded fund that tracks crude oil prices. And it’s being helped by backwardation. ...

Lukoil commissions first production well at Phase 2 of Filanovsky field

Lukoil has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea. ...

Oil below $70 as U.S. shale surge looms over bullish banks

Brent crude traded below $70/bbl as the specter of expanding U.S. supply was weighed against Wall Street banks’ growing faith in a price rally. ...

Chevron posts strongest year of crude discoveries since 2011

Chevron Corp. had its best year of oil and natural gas discoveries in more than half a decade as rebounding energy prices lifted drillers out of the worst slump in a generation. ...

Billions from Trump tax cuts supercharge fossil fuel sector

Oilmen, wildcatters and particularly refiners are reaping billions in gains from President Donald Trump’s tax overhaul, helping boost the staying power of old-style energy even as the world searches for cleaner fuels. ...

ExxonMobil disappoints as profit and production fall short

Exxon Mobil Corp. fell short of analysts’ fourth-quarter expectations in two key metrics: per-share profit and overall production. ...

OPEC, Russia sustain production as Saudi Arabia masks Venezuelan drop

Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry. ...

Pemex focuses on infrastructure improvements to bolster oil output

With its money-losing refineries producing the least fuel in 27 years and only a handful of private partnerships announced since Mexico’s energy reforms, sealing a $2.6 billion venture with Mitsui and Co. will come as a relief to Petroleos Mexicanos. ...

Kinder pipeline battle spirals as Alberta halts power-deal talks

Alberta is striking back at British Columbia after the neighboring Canadian province proposed restricting shipments of oil-sands crude in a bid to halt Kinder Morgan Inc.’s Trans Mountain project. ...

YPF said to favor finance chief Daniel Gonzalez as new CEO

Daniel Gonzalez Casartelli, a former banker who is leading asset sales at YPF SA as chief financial officer, is favored to become the next CEO of the Argentine oil and gas producer, people with knowledge of the situation said. ...

Exxon Mobil disappoints as profit and production fall short

Exxon Mobil Corp. fell short of analysts’ fourth-quarter expectations in two key metrics: per-share profit and overall production. ...

Big banks accept OPEC was right as they embrace oil near $80

Wall Street’s biggest banks have changed sides and are embracing a surge in oil prices. ...

East Canada’s NOIA says effective environmental assessment critical to offshore development

With legislative changes imminent, the Newfoundland and Labrador Oil and Gas Industries Association, Noia, continues to advocate for renewed environmental assessment processes and calls on the federal government to designate the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) as Responsible Authority (RA) for these assessments. ...

Bowleven contracts jackup rig for Etinde appraisal in Cameroon

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of its Etinde asset, in which the Company holds a 25% offshore interest. ...

Cosasco announces exclusive partnership with Sensorlink

Cosasco has signed an exclusive partnership Sensorlink AS, which manufacturers and supplies high resolution, non-intrusive corrosion and erosion monitoring technologies for the oil and gas, chemical, power and water treatment industries. ...

New company offers drilling fluids management and consulting services

Panther Fluids Management is a newly formed company providing drilling fluids management services and general consulting services for drilling operators. ...

Eni wins rights to Block 24 in deepwater Mexico

Eni and its partner Qatar Petroleum have been awarded rights to Block 24 located in the deep waters of the Cuenca Salina basin in Mexico. ...

Statoil contracts West Hercules semisubmersible for exploration drilling in the Barents Sea

The West Hercules semisubmersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another five exploration wells. ...

BHP said to mull shale split to speed $10-billion sale

BHP Billiton Ltd., seeking to accelerate the sale of its U.S. shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian basin, according to people with knowledge of the producer’s plans. ...

Goldman says oil to surpass $80 with market likely balanced

Goldman Sachs Group Inc. hiked its short-term crude oil price forecast by as much as 33%, saying the market is now likely balanced. ...

Iraqi oil-export ambitions seen putting strain on OPEC accord

OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon. ...

North Dakota Bakken oil rises again in shadow of mighty Permian

The Bakken shale is roaring back to life, and Kevin Black sees the evidence almost every day as he looks out the window of his blue Ford F-150 pickup truck. ...

Dutch suggest 44% cut to output at EU's biggest gas field

The Dutch mining regulator recommended cutting production at Europe’s biggest natural gas field by 44% to prevent earthquakes in the north of the country, a move that caused prices for the commodity to jump the most in six weeks. ...

Energean signs $180-million senior facility agreement to develop Prinos basin

Energean Oil and Gas has announced that it has signed a reserves-based senior facility agreement, amounting to $180 million. ...

Shell wins nine key blocks in Mexico deepwater bid round

In the deepwater bid round for the Mexican Gulf of Mexico, Shell Exploración y Extracción de México, S.A. de C.V., (Shell) won four exploration blocks on its own, one with its partner Pemex Exploración y Producción and four with its partner Qatar Petroleum International Limited. ...

Shell's best profit in three years marred by cash-flow drop

The oil-price rally worked both ways for Royal Dutch Shell as improved exploration and production lifted profit to a three-year high while refining and trading fell short of expectations as margins shrank. ...

Cnooc aims for highest spending in four years amid oil recovery

Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets. ...