Crude rebounds as OPEC hints at longer oil output cuts

Oil climbed as top crude-exporting countries suggest they may extend output curbs beyond this year, adding momentum to a monthly rebound. ...

Shell expands Brazil-operated footprint with new deepwater blocks

Shell Brasil Petroleo, a subsidiary of Royal Dutch Shell plc (Shell), today won four additional deep-water exploration blocks in the Campos and Potiguar basins, bringing its total operated presence offshore Brazil to 18 blocks. ...

Wealthy Argentine minister woos foreign cash for oil

Argentina’s energy minister, a millionaire who spent decades at Royal Dutch Shell Plc, is wooing the world’s biggest oil companies to invest in a nation still recovering from its 2001 default. ...

Statoil awarded four blocks offshore Brazil

Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on March 29. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects. ...

Production starts up at Timimoun gas field in Algeria

Total announces first gas from the Timimoun field in southwestern Algeria. The production complex with a capacity of around 5 MMcmgd at plateau (around 30,000 boed), is jointly operated by Sonatrach (51%), Total (37.75%) and Cepsa (11.25%). ...

SAAB signs contract for fleet of Sabertooths

The first in a planned fleet of Saab Seaeye Sabertooth underwater electric robotic vehicles has been ordered by a leading company in the sector. ...

BHGE CEO presents letter to shareholders

Baker Hughes, a GE company, released its first annual report today in its current corporate structure. What follows is the “Letter to Shareholders” from BHGE Chairman and CEO Lorenzo Simonelli. ...

Canadian GDP unexpectedly shrinks as oil and housing output drop

Canada’s gross domestic product unexpectedly shrank in January, as the economy faces a broad slowdown after surging last year. GDP contracted 0.1% during the month, Statistics Canada reported Thursday in Ottawa, weighed down by sharp declines in oil production and real estate. Economists anticipated a 0.1% gain. ...

Woodside completes Scarborough acquisition

Woodside advises that the acquisition of ExxonMobil’s interest in Scarborough gas field has been completed. The effective date of the transaction is Jan. 1, 2018. ...

Shadow cast over peace talks as fighting flares, oil declines in South Sudan

Clashes flared between Sudan Sudanese troops and rebels, complicating talks to end the civil war that has cut oil production, two days after a regional bloc called for the insurgents’ leader to be freed from house arrest in South Africa. ...

BOEM to open call for information, nominations for proposed Beaufort Sea lease sale

The Bureau of Ocean Energy Management (BOEM) has announced it will publish in the Federal Register a call for information and nominations covering a proposed lease sale in Alaska’s Beaufort Sea Planning Area in 2019. ...

Total reports first gas from Algeria's Timimoun field

Total announces first gas from Timimoun field in southwestern Algeria. ...

Petrofac secures contract with Petroleum Development Oman

Petrofac has been awarded a contract worth $265 million for the development of the Marmul Polymer Phase 3 (MPP3) Project in southern Oman. ...

Rosneft opens International Center for RandD in Qatar

Rosneft has opened an office of the International Center for Research and Development in Qatar, which will become a full-scale representative office of the Company, performing along with scientific and technical activities, and also functions to promote various business areas of the Company in the region. ...

Dutch to close EU's biggest gas field to limit tremors

Fifty-five years after starting natural gas production from Europe’s biggest field, the Netherlands have signed its death warrant. ...

Exxon, Total join majors interested in Iraq's April 15 oil auction

ExxonMobil Corp., Total SA and Lukoil PJSC are among international companies interested to win rights to develop 11 oil and gas border fields as OPEC’s number two producer continues to build production capacity. ...

Oil's back to posting a monthly gain as geopolitical risks rise

The prospect of flaring geopolitical tensions and falling U.S. stockpiles are lifting crude prices, after a five-month winning streak was broken in February. ...

Shale patch making money, hiring and ready to drill for more

An upbeat shale patch is hiring and ready to drill, as producers are comfortably making a profit. ...

Texas-sized gas conundrum emerges in America's busiest oil field

America’s most prolific oil field is now its worst market for natural gas. ...

European majors join race for Mexico oil bonanza in Gulf waters

European oil majors are swarming the shallow-waters of the Gulf of Mexico as the country races to attract investment before an election. ...

Pioneer sells Eagle Ford acreage for $102 million

Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with Sundance Energy, Inc. to sell approximately 10,200 net acres in the western portion of Pioneer’s Eagle Ford shale acreage position for $102 million, subject to normal closing adjustments. ...

Eni awarded new EandP license in the Cuenca Salina basin, offshore Mexico

Eni and its partner Lukoil have been awarded rights to Block 28, located in the medium-deep waters of the Cuenca Salina basin, offshore Mexico. This allows Eni to build up and consolidate a new core area with significant operational synergies in the Country. ...

Iraq says some OPEC, allied producers seek oil cuts into 2019

Some OPEC producers and other countries participating in global output cuts have suggested extending the curbs beyond 2018 and up to the middle of next year, according to Iraq’s Oil Minister Jabbar al-Luaibi. ...

Who's next in the Permian? A short list of targets after Concho deal

Oil-industry watchers have been predicting a wave of buyouts among U.S. shale drillers for years. Has the starting gun finally fired? ...

Almost $194 billion will be spent on upcoming oil, gas projects in Africa to 2025, says GlobalData

Close to $194 billion will be spent between 2018 and 2025 on 93 upcoming oil and gas fields in Africa. Capital expenditure (capex) into conventional, unconventional, and heavy oil projects would form $88.9 billion; $3 billion and $1.9 billion of the region’s capital spend respectively over the eight-year period, according to GlobalData, a leading data and analytics company. ...

Wellsite announces blockchain integration, launch of Crudecoin token sale

Wellsite, a professional network and collaboration platform for the upstream oil and gas industry, today announced a major blockchain initiative for its flagship platform, Wellsite.com, with the launch of a token sale for its cryptocurrency designed for the oilfield services market, Crudecoin. ...

Concho Resources' acquisition forms largest unconventional shale producer in the Permian

Concho Resources Inc. and RSP Permian, Inc., announced they have entered into a definitive agreement under which Concho will acquire RSP in an all-stock transaction valued at approximately $9.5 billion, inclusive of RSP’s net debt. ...

Repsol selects Emerson for multi-year exploration technology contract

Emerson has announced that it has signed a multi-year contract with Repsol to provide its Paradigm EandP software suite across all Repsol global exploration operations to help identify and evaluate new and existing opportunities more accurately. ...

Oil heads for longest slide in a month as fears of glut increase

Oil headed for its longest losing streak in almost a month on signs a global glut persist. ...

Shell suspects ex-executive committed crime in Nigeria deal

Shell referred a former vice president for sub-Saharan to the Dutch authorities, suspecting he may have committed crimes related to an asset sale in Nigeria. ...

Hunting signs collaboration agreement with Titan Oil Recovery, Inc.

Hunting PLC, international energy services company, announced that it has signed a collaboration agreement with U.S.-based enhanced oil recovery company (EOR), Titan Oil Recovery, Inc. ...

Former Maersk Oil CEO to join Shell's U.S. leadership team

Royal Dutch Shell (Shell) today announced a series of changes to the makeup of its U.S. leadership team. ...

EIA: U.S. LNG exports quadtrupled in 2017

U.S. exports of liquefied natural gas (LNG) reached 1.94 Bcfd in 2017, up from 0.5 Bcfd in 2016. As LNG exports increased, shipments went to more destinations. U.S. LNG exports in 2017, all of which originated from Louisiana’s Sabine Pass liquefaction terminal, reached 25 countries. ...

Pemex, Lewis Energy sign contract for assessment and development of Olmos field

Petróleos Mexicanos and Lewis Energy México signed the first Integrated Exploration and Extraction Contract (CSIEE) for Olmos field, which is located in the state of Coahuila. The purpose is to assess and develop the Eagle Ford field in Mexico. ...

SDX Energy spuds Ibn Yunus-1X well in Egypt's South Disouq

SDX Energy Inc., the North Africa focused oil and gas company, has announced that it has spud its Ibn Yunus-1X exploration well at South Disouq, Egypt. ...

Oil slumps as worries mount that U.S. stockpiles resumed growth

Oil erased earlier gains as investors worry that American crude stockpiles may have resumed their expansion. ...

Deepwater oil starting to hold its own with shale, Chevron says

Chevron Corp. is studding the ocean floor with heavy-duty pumping gear as part of an effort to make deepwater oil discoveries competitive with shale. ...

Impact Selector International releases latest advancement in wireline tools

The SMART Sense from Impact Selector International is the latest advancement in wireline tools, providing real-time monitoring of downhole cable head tension during wireline operations. ...

Schlumberger introduces new perforating gun system

Schlumberger has introduced the Tempo instrumented docking perforating gun system at the SPE/ICoTA Coiled Tubing and Well Intervention Conference and Exhibition. This combination of a plug-in gun design with real-time advanced downhole measurements enables and monitors the well’s dynamic underbalance to create clean perforations that boost reservoir productivity. ...

Latin American giant's hunger for foreign gas ebbs amid oil boom

As the global natural gas trade expands amid a boom in supplies from the U.S. to Australia, at least one major energy consumer may be sitting on the sidelines: Brazil. ...

Eastern Mediterranean Gas Conference 2018 highlights development in Zohr Field

More than 150 of the industry’s top executives, government officials, and regional experts met in Nicosia, Cyprus this week to discuss and share their perspectives on energy development in Cyprus and the Eastern Med. The region’s key leaders, involved in determining the natural gas policies of the Eastern Med, attended EMGC for two-days of in-depth discussions on the region’s latest developments, challenges and opportunities. ...

Wood wins new contract with Lucite International

Wood has been awarded a new five-year contract by Lucite International UK Ltd, to provide industrial services at the Cassel site in Billingham, Teesside, UK. ...

For some wounded American drillers, the oil rout never ended

More than a year after exiting bankruptcy, SandRidge Energy Inc. is stuck in stock-market purgatory. ...

Oil's Seven Sisters enter a "golden age," Goldman Sachs says

The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said. ...

Wintershall strikes gas southwest of Aasta Hansteen field

Wintershall Norge AS, operator of production licence 894, is in the process of concluding the drilling of wildcat well 6604/5-1. The well has been drilled about 115 km southwest of Aasta Hansteen field in the northern part of the Norwegian Sea. ...

Spirit Energy discovers oil northwest of Gjøa field in the North Sea

Spirit Energy Norge AS, operator of production licence 682, is in the process of completing the drilling of wildcat wells 35/9-13 and 35/9-14 and appraisal well 35/9-14 A on the Måløy slope in the North Sea. ...

UTEC provides operator with real-world, virtual access to Canada's largest FPSO

UTEC, a global survey company in subsea services group Acteon, has delivered a bespoke Virtual Asset Management tool to an offshore Operator in Eastern Canada, to allow its team to remotely access its Floating, Production Storage and Offloading (FPSO), from their desktop. ...

Trump said to name Energy Department official as top aide

The White House plans to name Wells Griffith, an Energy Department official who worked on Donald Trump’s campaign, as one of the president’s top energy and environmental advisers, three people familiar with the decision said Saturday. ...

OGIC invests more than £300,000 into new UK projects

The Oil and Gas Innovation Center (OGIC) has invested more than £300,000 into three new projects which have the potential to cut operational costs and improve efficiency in the oil and gas industry. ...

TechnipFMC awarded integrated EPCI contract for Who Dat field

TechnipFMC has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCITM) contract by LLOG Exploration. ...

Chrysaor farms in to Grevling discovery in Norwegian North Sea

Chrysaor, the leading oil and gas independent has, through its Norwegian subsidiary, Chrysaor Norge A.S., entered into an agreement with OKEA to acquire a 15% interest in the PL038D licence. ...

Lundin Norway successfully completes Luno II appraisal well

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has successfully completed the Luno II appraisal well 16/4-11 in PL359 on the Utsira High, in the Norwegian North Sea. ...

Brent holds near $70 as Middle East tensions trump stock market slide

Brent held near $70/bbl after Saudi Arabia intercepted multiple ballistic missiles fired by Houthi forces in Yemen. ...

Global trading giants dip toes in China oil futures on debut day

Two of the world’s biggest oil traders gave China’s crude futures contract a go on its long-anticipated trading debut. ...

Oil companies push U.S. drilling to pace last seen in 2015

Crude companies boosted drilling activity in U.S. oil fields to levels not seen in three years amid rising confidence that worldwide demand will keep energy prices elevated. ...

Argentina to tender shale train to develop Vaca Muerta drilling

Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview. ...

Alberta looks beyond oil as crash leaves balanced budget far off

Alberta is looking beyond its oil industry as it works to end years of red ink. Still, a recovery to balanced budgets is a long ways off. ...

NOV develops iron roughneck upgrade for cost-effective performance improvements in the Permian

Operators in the Permian basin cannot always expend the additional capital necessary to procure entirely new equipment—and often, they don’t need to. Upgrades to common rig equipment can provide performance increases without the cost and downtime associated with newbuilds. ...

Shell divests stake in Iraq’s West Qurna 1 oil field

Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of ITOCHU Corporation. ...

TechnipFMC, Magma Global enter collaboration agreement for hybrid flexible pipe

TechnipFMC has agreed to terms of a collaboration agreement with Magma Global Ltd. to develop a new generation of hybrid flexible pipe (HFP) for use in offshore applications. ...

Mubadala Petroleum reaches FID for Pegaga gas field, offshore Malaysia

Mubadala Petroleum and its partners PETRONAS Carigali Sdn Bhd (PETRONAS Carigali) and Sarawak Shell Berhad have reached the Final Investment Decision for the Pegaga gas field development in Block SK 320, offshore Malaysia. The project will now proceed to the construction and installation stage. ...

Energean takes FID on Karish and Tanin gas project, offshore Israel

Energean Oil and Gas PLC has announced that its board of directors has approved the Final Investment Decision (FID) to proceed with the $1.6-billion Karish and Tanin Development Project, offshore Israel. ...

U.S. Commerce Secretary to China: Import more U.S. gas to cut trade gap

What would it take for China to reduce its trade gap with the U.S.? Buy more natural gas, says Secretary of Commerce Wilbur Ross. ...

Oil gains as Trump picks Iran hawk Bolton as security adviser

Oil advanced on concerns that President Trump’s new security adviser could inflame political tensions in the Middle East. ...

Oilfield Helping Hands hosting fundraising event to honor victims of Oklahoma well fire

Oilfield Helping Hands (OHH) will be holding its Oklahoma Spring Sporting Clays Tournament special fundraising event on April 6, 2018, in Mcloud, Okla. to benefit the families of those lost in a well fire in Quinton, Okla., on January 22, 2018. ...

Crude drops as Trump tariffs on China spark trade war concerns

Crude took a turn lower amid an equity selloff largely pinned to growing apprehension about a potential trade war with China. ...

Shell wooed by British Columbia with tax cuts for LNG project

British Columbia Premier John Horgan lightened the tax burden on proposed liquefied natural gas projects as his government seeks to convince Royal Dutch Shell Plc to move ahead with a C$40 billion ($31 billion) development in the western Canadian province. ...

Interior announces results of Gulf of Mexico region-wide oil, gas lease sale

In support of President Donald J. Trump's America-First Offshore Energy Strategy, Interior Assistant Secretary for Land and Minerals Management Joe Balash has announced that region-wide Gulf of Mexico Lease Sale 250 generated $124,763,581 in high bids for 148 tracts covering 815,403 acres in federal waters of the Gulf of Mexico. ...

Statoil awarding Askeladd development contracts

Statoil is awarding a contract for pipelaying to Subsea 7 and for marine operations to Ocean Installer in the Askeladd field development. ...

Rosneft completes drilling of first appraisal well in the Black Sea

Rosneft has completed the drilling of the first super-deep exploration and appraisal well Maria-1 on the Zapadno-Chernomorskaya license area in the Black Sea. ...

Rosneft completes drilling of first appraisal well in the Black Sea

Rosneft has completed the drilling of the first super-deep exploration and appraisal well Maria-1 on the Zapadno-Chernomorskaya license area in the Black Sea. ...

LAGCOE names Galtway Marketing as strategic and creative agency partner

LAGCOE (Louisiana Gulf Coast Oil Exposition), the non-profit energy industry organization focused on educational programs, along with its technical exposition and conference, announced today its partnership with Galtway Marketing. ...

Aramco says all facilities safe after report of Yemeni attack

All oil, natural gas and refining facilities in Saudi Arabia are safe and operating normally, state-run Saudi Aramco said, after Shiite rebels in neighboring Yemen were reported to have fired a missile at a company facility near the border. ...

C6 Technologies completes world's first application of innovative well intervention technology

C6 Technologies AS, the oilfield technology company specializing in the development of innovative solutions for well intervention and conveyance, today announces the successful completion of a world's first application of its ComTrac technology, in conjunction with its parent company, Archer. ...

EMGC '18: Cyprus to import gas via FSRU to meet EU GHG targets

Day 2 of Gulf Publishing Company's Eastern Mediterranean Gas Conference (EMGC 2018) in Cyprus kicked off with a keynote presentation by Dr. Symeon Kassianides, chairman of The Natural Gas Public Co. (DEFA) of Cyprus. Dr. Kassianides spoke about the proposal to establish a floating storage and regasification unit (FSRU) to import gas to Cyprus for use in power generation. ...

Yemen's Houthis say they fired missile at Aramco Najran facility

Yemen’s Shiite rebels said they fired a ballistic missile aimed at a Saudi Aramco facility in the border area of Najran, according to a news agency under their control. ...

Shell mulls 15-year deal for Israeli, Cypriot gas, partner says

Royal Dutch Shell Plc is weighing a 15-year contract to buy natural gas for its liquefied natural gas plant in Egypt from offshore fields in Cyprus and Israel. ...

Emerald Bay to sell first 700 bbl of oil produced from Kuhn 3, Kuhn 4 wells

Emerald Bay Energy Inc. has announced that the Company is selling the first loads of oil production from the Kuhn 3 and Kuhn 4 wells. Since pumping began at Kuhn 3 last week the well has produced over 500 bbl of oil and is averaging 62 bpdof oil production. At Kuhn 4, over 200 bbl of oil was produced during the intermittent testing of the 1-ft interval in the Buda formation. ...

Oil trades near $65 with U.S. inventories below five-year average

Oil traded near $65/bbl after U.S. crude inventories unexpectedly fell, dropping below their five-year average for the first time since 2014. ...

Oil trades near $65 with U.S. inventories below 5-year average

Oil traded near $65/bbl after U.S. crude inventories unexpectedly fell, dropping below their five-year average for the first time since 2014. ...

BP squeezed out of Abu Dhabi offshore oil as China, Italy win

When oil-rich Abu Dhabi put a string of offshore fields up for auction, suitors from China to Italy vied for a slice of the pie. ...

PetroChina profit pops as oil rally counters gas, write-downs

PetroChina said profit almost tripled last year as earnings from exploration and production overcame asset write-downs and losses from importing natural gas. ...

Sarcos to form exoskeleton technical advisory group

Sarcos Robotics, a global leader in the production of robots that combine human intelligence and dexterity with the strength, endurance and precision of machines to improve efficiency and reduce occupational injuries for complex or non-repetitive tasks, announced the formation of an industry focused Exoskeleton Technical Advisory Group (X-TAG). ...

SDX Energy completes, tests Sebou permit well

SDX Energy Inc., the North Africa focused oil and gas company, has announced that the SAH-2 well, on the Sebou permit (SDX 75% working interest) in Morocco has been completed and tested at a restricted rate on a 40/64-in. choke. The well achieved an average flowrate of conventional natural gas of 12.9 MMscfd, with a maximum flowrate during this test of 13.5 MMscfd. ...

NOIA: Gulf of Mexico Lease Sale 250 results reflect slowly improving market conditions

National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement following today’s Gulf of Mexico Lease Sale 250: ...

Fewer OPEC barrels are reaching U.S. shores amid supply cuts

U.S. refiners are taking less OPEC-produced oil than ever before as the group’s members continue trimming output. ...

FSU to add 145,000 bpd to global oil supply by 2021, says GlobalData

Analysis of crude oil production in Former Soviet Union (FSU) shows that about $123 billion in capital expenditure (capex) would be spent by FSU on oil projects over the next four years, to ensure that production grows to around 14.2 MMbpd in 2021, according to GlobalData, a leading data and analytics company. ...

Russia seen needing Ukraine's gas pipelines to Europe after 2019

Russia is going to need Ukraine for natural gas shipments for a while yet. ...

TechnipFMC selects RTI’S connectivity technology for semi-autonomous underwater ROVs

Real-Time Innovations (RTI), the Industrial Internet of Things (IoT) connectivity company, today announced that the Schilling Robotics business unit of TechnipFMC, a global leader in Oil and Gas projects, technologies, systems and services, has selected RTI Connext DDS as the connectivity framework for its underwater remotely operated vehicles (ROVs). ...

Lumina unveils new geophysical-modeling tool

Leonardo, the new geophysical-modeling tool from Lumina, is now available. The tool allows users to imagine, model and test 2D earth models more quickly and more easily than ever before, using a paint-oriented approach. Paint your earth model and push a few buttons for instant 2D synthetic seismic sections, a wide variety of attributes and AVO responses. ...

AnTech launches industry’s first real-time, at-bit geosteering service for coiled tubing drilling

Specialist Directional Coiled Tubing Drilling Service company AnTech Ltd., has announced the launch of RockView -- a technology that makes real-time, high-resolution geosteering possible for the first time. ...

Crescent Petroleum, Dana Gas to increase gas production from Khor Mor field by 25% in 2018

Pearl Petroleum, the company consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a 10-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG) to supply and sell the additional quantities of gas that it plans to begin producing later this year in order to boost much needed local domestic electricity generation. ...

EMGC '18: Eni Chief sees rapid development of Eastern Med gas with Zohr

Opening Day 1 of Gulf Publishing Company's fifth annual Eastern Mediterranean Gas Conference (EMGC) on March 21 was Yiorgos Lakkotrypis, Minister of Energy, Commerce, Industry and Tourism for the Republic of Cyprus. ...

Brent hits six-week high as U.S.-Saudi talks raise risk for Iran

Brent crude extended gains as investors assessed geopolitical risks, with speculation that the U.S. president and Saudi Arabia’s crown prince discussed countering the influence of Middle East producer Iran. ...

OPEC said to discuss changing gauge of success for oil cuts

OPEC and its allies held further discussions about changing the way they measure the impact of their production cuts, including proposals that would affect how quickly they hit their target, according to delegates from the group. ...

China's CNPC pays $1.18 billion for concessions in Abu Dhabi

China boosted its hold on Middle Eastern crude supply in a $1.18 billion deal for stakes in two oil and natural gas concessions in Abu Dhabi. ...

Oil hits three-week high as glut shrinks faster than expected

Crude advanced to a three-week high as the OPEC-led alliance of major oil producers accelerated the timeline for curbing a worldwide supply glut. ...

Vitol chairman seeking joint ventures with Middle East producers

Ian Taylor, the legendary oil trader who stepped down as CEO of Vitol Group this month to become chairman, is seeking joint ventures and long-term structured deals with some of the Middle East’s largest oil-producing nations. ...

India seen raising natural gas price to highest in two years

India is poised to lift its domestic natural gas price to the highest in at least two years, boosting earnings of producers like Oil and Natural Gas Corp., according to a survey of analysts and industry participants. ...

Abrado performs single spacer direct displacement for GOM operator

Abrado announced today that it has completed its first true single spacer direct displacement for a major shelf operator in the Gulf of Mexico using its VeriClean 200X chemical system. ...

Ex-Occidental chief in $2.66-billion deal for EnerVest shale

Steve Chazen, who made Occidental Petroleum Corp. a heavyweight of the shale boom, is looking to replicate that success in south Texas with a $2.66-billion deal. ...

Faroe's hunt for oil deals could see it double in size

Faroe Petroleum Plc is hunting for offshore oil and gas assets in Norway and the UK, with an appetite that could equal the current size of the company itself -- about $550 million. ...

Add Energy, PT Synergy Engineering secure maintenance build contract for Tangguh LNG expansion

Add Energy, the international energy consultancy provider, in partnership with their Indonesia partner, PT Synergy Engineering, have been awarded a maintenance build contract for work on Tangguh LNG expansion project in Indonesia. ...

CNOOC announces start of production at Weizhou 6-13 field, in the South China Sea

CNOOC Limited has announced that Weizhou 6-13 field has commenced production ahead of schedule. ...

AISUS wins first contract in the Middle East

AISUS, an offshore inspection company, has announced its first major contract win in the Middle East with North Oil Company (NOC). The six-figure agreement marks a significant milestone for the firm and provides the foundation on which the company plans to build its growing business in the Middle East. ...

Hurricane Energy reports delivery of key subsea components for Lancaster EPS

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has provided an operational update in relation to the Early Production System on Lancaster field (Lancaster EPS). ...

Noble Group sued by top shareholder as trader defaults on debt

Noble Group is being sued by one of its top shareholders in a fresh blow to the embattled commodities trader as it defaults on debt obligations. ...

Blue skies above China need space below ground to store natural gas

While China seeks more natural gas to meet booming demand from President Xi Jinping’s clean-air drive, one part of the fuel’s supply chain isn’t growing fast enough to avoid a repeat of this winter’s supply crunch. ...

BSEE increases safety inspection time offshore, saves American taxpayers $20 million

Beginning April 1, the Bureau of Safety and Environmental Enforcement (BSEE) is increasing physical inspection time offshore, while reducing taxpayer burden by nearly $20 million over 3.5 years, providing significant cost-savings to the American public. ...

Statoil becomes operator of Martin Linge field, Garantiana discovery

Statoil and Total have completed their previously announced transaction, whereby Statoil has acquired Total’s equity stakes in and taken over the operatorships of Martin Linge field and the Garantiana discovery on the Norwegian continental shelf. ...

Statoil becomes operator of Martin Linge field and Garantiana discovery

Statoil and Total have completed their previously announced transaction whereby Statoil has acquired Total’s equity stakes in, and taken over the operatorship of, the Martin Linge field and the Garantiana discovery on the Norwegian continental shelf. ...

As Saudi prince visits U.S., shale transforms oil relationship

From Franklin Roosevelt to George W. Bush, American presidents saw oil as the cornerstone of the relationship between Saudi Arabia and the U.S. -- a steady supply from the Middle East’s largest exporter was considered crucial to the economy’s well-being. ...

Total buys into oil fields offshore Abu Dhabi for $1.45 billion

Total has signed two new 40-year concession agreements with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the Abu Dhabi National Oil Company (ADNOC). ...

Iraq mulls building an island to boost oil-exporting capacity

OPEC’s second-biggest producer is ramping up efforts to expand capacity to pump and export oil, with plans that include the injection of seawater into crude deposits and the construction of export facilities on a man-made island in the Persian Gulf. ...

BNK Petroleum reports successful frac stimulation at Oklahoma's Tishomingo field

BNK Petroleum Inc. has announced that the Company has finished the fracture stimulation of the Glenn 16-2H well in the Company’s Tishomingo field, in the SCOOP area of Oklahoma. ...

Oil slips as U.S. shale fears untempered by Russian reassurance

Oil slipped as U.S. explorers resumed their drilling binge, raising concerns over whether output cuts by OPEC and its allies will be enough to clear a glut despite a pledge from Russia that it’s committed to the curbs. ...

Merkel looks to LNG to cut Germany's dependence on Russia

Angela Merkel’s government is seeking to build a LNG industry in Germany to reduce the nation’s dependence on supplies from Russia and Norway. ...

Netflix for oil setting stage for $1 trillion battle over data

A battle for big data is brewing in the oil patch. ...

Russia affirms pledge to see OPEC deal through to the end

Russia is committed to seeing its pact with OPEC through to completion, whether that means starting discussions about a phaseout or prolonging output cuts into 2019. ...

Crude spike on Friday blamed on 'sideways trading'

Crude ended Friday higher after a curious, late-morning spike left analysts scratching their heads. ...

Texas Alliance contacts Trump regarding NAFTA negotiations, steel tariffs

The Texas Alliance of Energy Producers continues to monitor NAFTA trade negotiations and steel tariffs. It was just last month the TAEP Board passed a resolution asking the U.S. government to recognize the importance of oil and gas exports under NAFTA. ...

Singapore's non-oil exports slide the most since 2016

Singapore’s non-oil domestic exports slumped the most since October 2016, signaling growth risks to one of Asia’s most trade-dependent economies. ...

On bleak day, pipeline operators say tax policy is no big deal

On the worst stock-market day for U.S. pipeline operators in two years, Wall Street analysts and pipeline insiders saw reason to smile. ...

Eni Congo sponsors $30 million search for oil, renewable energy

Eni SpA’s unit in the Republic of Congo will sponsor a $30 million research center that will search for oil and renewable energy, government spokesman Thierry Moungalla said. ...

ExxonMobil partners with Pakistan for third LNG terminal

ExxonMobil is working with a group of Pakistan’s large businesses on a proposal to build and supply the country’s third import terminal for liquefied natural gas, according to the nation’s minister for maritime affairs. ...

Government policy crucial for future of upstream sector in Southeast Asia, says GlobalData

As the upstream sector recovers from the 2014 oil price crash and resulting budget cuts, a number of Southeast Asian governments are adapting policies in the sector in the hope of capturing a share of new investment, according to GlobalData, a leading data and analytics company. ...

Congo grants Total extension to oil-exploration license

The Democratic Republic of Congo granted Total SA a one-year extension to a license allowing it to explore for oil along the Ugandan border. ...

Aramco said to get cool response on IPO from U.S. investors

Saudi Arabia’s willingness to delay the initial public offering of state oil company Aramco to 2019 has several motivations, from regulatory risk to competing projects in the government’s crowded agenda. ...

Shell, Eni misled Nigeria on oil Spills, Amnesty says

Royal Dutch Shell Plc and Eni SpA may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities, rights group Amnesty International said. ...

Shell sells New Zealand interests to OMV for $578 million

Royal Dutch Shell plc (Shell), reached an agreement today to sell its shares in Shell entities in New Zealand, to OMV for $578 million. ...

Russian LNG exporter warns against vilifying country's gas

Russia’s political tensions with Europe and the U.S. should not be a reason to denounce the nation’s energy supplies, according to LNG exporter Novatek. ...

Top trader Vitol has new CEO as Taylor becomes chairman

Vitol Group named Russell Hardy as CEO, replacing Ian Taylor at the helm of the world’s biggest independent oil trader. ...

Oil holds near $61 as shale growth balanced by IEA supply view

Oil held above $61/bbl as investors weighed surging U.S. crude production against a warning from the IEA of an impending shortfall in global supplies. ...

Clyde and Co secures landmark oil and gas floating pledge agreement in Mexico

Global law firm Clyde and Co has advised Petrolera Perseus, a Mexican oil company, on the first ever floating pledge agreement over the interest of oil and gas license contracts in Mexico. ...

As oil rally fades, Trump's Iran hawk pick seen aiding bulls

For those in the oil market, it may seem like there’s no end to U.S. events determining the course of prices these days. Donald Trump’s sudden firing of Rex Tillerson is unlikely to prove an exception. ...

Oil, gas leaders warn Trump he risks harming the industry

Oil and gas executives, worried new steel tariffs will crimp their business and that Donald Trump will pull the U.S. out of the North American Free Trade Agreement, are delivering those concerns directly to the president. ...

BP said to offer Egyptian oil assets for sale as focus shifts

BP Plc has begun a process to sell mature oil fields in Egypt as it shifts investment in the country to natural gas, according to people with knowledge of the matter. ...

DOF Subsea, Enpro Subsea partner on independent and integrated flow intervention services

Enpro Subsea and DOF Subsea HAVE announced a Memorandum of Understanding (MoU) which will leverage each company’s expertise and portfolio of assets to deliver enhanced production solutions throughout the life of field. ...

Eni strengthens record production from Nooros field offshore Egypt

Eni has strengthened its record production from the Nooros gas field, offshore Egypt, which reached a production of 32 MMcmd equivalent to around 215,000 boed. ...

Libyan oil is back, vying with Saudis and Iraq

Things are looking up for Libya oil traders. ...

Over $57 billion to be spent on Oceania’s upstream projects by 2025, GlobalData says

An average capex of $7.1 billion per year is forecast to be spent on 31 upcoming oil and gas fields in Oceania between 2018 and 2025, according to GlobalData, a leading data and analytics company. ...

Spirit Energy receives consent to use Maersk Interceptor at Oda field.

The Petroleum Safety Authority of Norway has given Spirit Energy consent to use the Maersk Interceptor mobile drilling facility to drill production wells at Oda field. ...

Xodus delivers Tunisian decommissioning study for TPS

Xodus Group has delivered a decommissioning and abandonment study for wells, surface and subsea facilities in Tunisia on behalf of Thyna Petroleum Services (TPS). ...

Norway's leading oil major rebrands to broaden its energy reach

Statoil will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production. ...

Statoil name change scrubs “oil” to tackle energy transition

Statoil will change its name to Equinor as it seeks to broaden its energy reach beyond oil and gas production. ...

Canadian crude is finding a new way to Asia without a pipeline

Canadian oil producers found a way to access the growing Asian energy market without the controversial Trans Mountain pipeline. ...

BSEE launches risk-based inspection program

The Bureau of Safety and Environmental Enforcement this week announced the implementation of a new Risk-Based Inspection Program that employs a systematic framework to identify facilities and operations that exhibit a high-risk profile. ...

Noble Energy closes sale of 7.5% working interest in Tamar field

Noble Energy, Inc. has announced the closing of the previously announced divestment of a 7.5% working interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. ...

May seeks alternatives for Russian gas after spy scandal

The spy poisoning scandal in the UK is spilling into energy. ...

Oil sinks toward $60 as inventory, production gains weigh

Oil slid toward $60/bbl in New York as U.S. crude inventories rose the most since January and production continued inexorably higher. ...

Canadian oil curve indicates glut relief may be on the way

A lingering Canadian heavy crude glut may be nearing its end. ...

Petroteq announces PetroBLOQ's strategic entry into key international markets

Petroteq Energy Inc., a company focused on the development and implementation of proprietary technologies for the energy industry, is pleased to announce the planned opening of marketing offices in key strategic international markets, initially targeting Switzerland, Russia and Ukraine. ...

Chariot Oil and Gas begins drilling Rabat Deep 1 well in Morocco

Chariot Oil and Gas Limited, the Atlantic margins focused oil and gas exploration company, has commenced drilling on the Rabat Deep Permits in Morocco. ...

SDX Energy strikes oil in Egypt's West Gharib Concession

SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce that an oil discovery has been made at its Rabul 5 well in the West Gharib Concession in Egypt. ...

Shell risks losing gas race as rival targets shared resource

After a decade planning the world’s largest floating gas export plant, Royal Dutch Shell Plc’s supplies could get tapped by a competitor first. ...

OPEC acknowledges scale of shale boom as supply outstrips demand

OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives. ...

Zoltav Resources provides exploration program update

Zoltav Resources, the Russia-focused oil and gas exploration and production company, is pleased to provide an update on the Company’s exploration program to assess the resource potential of the Carbonian and Devonian structures in the Western fields of the Bortovoy Licence, Saratov. ...

Oil halts decline as Tillerson's departure boosts Iran risks

Oil halted recent losses as investors weighed a potential increase in geopolitical tensions from the fallout of Rex Tillerson’s ouster as U.S. secretary of state. ...

Oil slides on speculation U.S. surge will undermine OPEC cuts

Oil slid in New York amid concern that global demand might not absorb swelling U.S. supplies. ...

EIA: Venezuela’s crude oil production declines amid economic instability

Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years. ...

Oil sands upgraders may make a comeback amid pipeline crisis

Turning Canada’s heavy oil sands into a more marketable kind of crude is making a comeback, or rather half a comeback. ...

Mubadala Petroleum acquires 10% stake in Egypt's Shorouk Concession

Mubadala Petroleum and Italy’s Eni signed an agreement to purchase a 10% stake in the Egyptian Shorouk Concession. ...

DNV GL to build independent platform for energy storage system monitoring, analytics

DNV GL has recently started the development of an independent platform for integrated monitoring and performance reporting of energy storage systems (IMPRESS). ...

New York loses bid to block Millennium gas line project

A U.S. appeals court ruled against New York’s bid to block a pipeline that will shuttle natural gas to a $900-million power plant under construction there, setting a potential precedent for other battles over gas conduits. ...

Wood secures three contracts with Woodside in Senegal

Wood has been awarded three contracts to perform subsea and flow assurance studies for Woodside in Senegal, West Africa, supporting the proposed SNE Field Development in the Rufisque, Sangomar and Sangomar Deep Offshore blocks located offshore Senegal. ...

MAN Diesel and Turbo to supply compressor technology for offshore gas production in Vietnam

PTSC Mechanical and Construction Ltd. has commissioned MAN Diesel and Turbo to supply a total of two compressor trains for the Sao Vang and Dai Nguyet gas fields’ development project in Vietnam. ...

Geologists link ash from dinosaur-era volcanoes with shale oil, gas

Nutrient-rich ash from an enormous flare-up of volcanic eruptions toward the end of the dinosaurs' reign kicked off a chain of events that led to the formation of shale gas and oil fields from Texas to Montana. ...

Ashtead boosts rental fleet with £2.8-million investment

Global subsea equipment specialist, Ashtead Technology, has invested £2.8 million in new technology over the past month in response to anticipated market demand. ...

Oil fluctuates amid concern American supplies will exceed demand

Oil fluctuated in New York amid concern that, while global demand is strong, it might not absorb swelling U.S. supplies. ...

At $232 billion, world's third-largest oil major is severely undervalued

With its earnings outlook improving and pipeline assets expected to be restructured, analysts are forecasting a rally in PetroChina’s Hong Kong shares. ...

Natural gas exporters want oil-linked pricing to maintain supply

The debate over how to price natural gas is settled, at least for exporters, and oil-indexing should prevail. ...

At $232 billion, world's 3rd-largest oil major is severely undervalued

With its earnings outlook improving and pipeline assets expected to be restructured, analysts are forecasting a rally in PetroChina’s Hong Kong shares. ...

Oil bust was actually good for a town called 'Shale City'

As the price of oil goes, so goes Williston, North Dakota. Now, though, the community located deep in the state’s Bakken shale play is working to break free from the industry’s boom-and-bust cycles. ...

BSEE sponsored report on subsea bolting technology released

In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016 ...

BSEE releases panel investigation report into subsea jumper leak

The Bureau of Safety and Environmental Enforcement (BSEE) has released the panel investigation report on the May 11, 2016 subsea jumper leak on a platform operated by Shell Offshore, Inc. ...

Hess announces $1-billion share repurchase program

Hess Corp. has announced that its board of drectors has authorized the purchase of $1.0 billion of Hess common stock by the end of 2018. The newly authorized program is in addition to the $500 million share repurchase program Hess announced in late 2017. ...

API: New studies project offshore energy development to bolster U.S. economy

Opening the U.S. Outer Continental Shelf (OCS) to offshore oil and natural gas development would be an economic catalyst—promoting U.S. jobs, investments, and increased tax revenue—for states across the country, according to new economic studies. ...

Petrobras announces sale of Piranema and Piranema Sul fields

Petrobras has announced that it has started the opportunity disclosure stage regarding the transfer of Petrobras’ total stake in the Piranema and Piranema Sul fields. ...

Wood provides construction and project management services in Niobrara

Wood is providing construction and project management services to Discovery DJ Services across a multi-phase installation of an oil and gas gathering system, and natural gas and liquid processing facility in the Niobrara shale region (DJ Basin) of Colorado. ...

Statoil granted drilling permit for well 34/8-19 S in production license 120

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 34/8-19 S, cf. Section 15 of the Resource Management Regulations. ...

Oil short-selling rears its ugly head as shale boom fears mount

Short-selling is creeping back into the oil market as fears increase that the U.S. will be awash with oil again. ...

Statoil invests NOK 5 billion for further development of Snøhvit field

Statoil and its partners have decided to invest just over NOK 5 billion in the further development of the Snøhvit field in the Barents Sea, which will provide feedstock for the LNG plant at Melkøya in Hammerfest. The development of Askeladd is part two of the multi-phased Snøhvit development. ...

Nigeria state oil company hasn't explained missing billions

An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue. ...

U.S. oil export surge means OPEC's output cuts may be doomed

Oil risks sliding back under $60/bbl as a surge in U.S. shipments to Asia threatens to undermine a deal between OPEC and its allies. ...

Eni strikes $1.8 billion in oil and gas deals with Abu Dhabi

Eni won rights at two blocks offshore Abu Dhabi and sold Adnoc a stake in Zohr field. ...

CERAWeek '18: Senators Murkowski, Cornyn express broad optimism for U.S. energy

During the final day of CERAWeek, Daniel Yergin, vice chairman of conference organizer IHS Markit, sat down with U.S. Senators John Cornyn (R-Texas) and Lisa Murkowski (R-Alaska, chairman of the U.S. Senate Energy and Natural Resources Committee), to discuss what’s ahead in Washington. ...

Operators shrink U.S. rig fleet for first time since January

U.S. oil companies curtailed activity for the first time since January as escalating output from shale fields stunted a recovery in crude prices. ...

Pneumatic fluids, cuttings separator increases fluid recovery, waste reduction

Today, strict global onshore and offshore disposal standards are applicable industry-wide. One of the requirements specifies that free fluid must be removed from all cuttings. This can result in increased costs for operators due to higher treatment, disposal and transportation costs. ...

Proserv enters into restructuring agreement

Energy services company Proserv has entered into a restructuring agreement with its principal lenders which will strengthen the long term financial structure of the company. ...

Watch out, OPEC: Busiest U.S. oil play heads for record spending

Bad news for OPEC: the epicenter of the shale boom is headed for record spending this year. ...

Oil hits three-week low amid heightened supply, dollar strength

Crude spiraled to the lowest level in three weeks as rising U.S. supply and dollar strength eclipsed bullish demand outlooks. ...

Shell says oil is here to stay as cleaner power lacks sizzle

There’ll be at least one home still welcoming fossil fuels in the face of a growing threat from cleaner resources, according to Royal Dutch Shell Plc. ...

UK industry output jumps amid oil rebound, record factory run

UK industrial production posted its biggest monthly increase in more than a year in January, figures Friday showed. ...

Aging oil fields defy gravity to pump more crude

Bob Dudley, in his 38 years in the oil industry, has never seen anything like what happened with BP Plc’s old fields last year: They gushed more crude. ...

CERAWeek ’18: Siemens adds three new partners to Charter of Trust cybersecurity initiative

While threatening cyber activity has reportedly cost the U.S. billions of dollars in recent years, Siemens is taking additional steps to protect critical infrastructure related to the energy sector through its new cybersecurity initiative, Charter of Trust. ...

Oil and gas economy up 25%, according to Texas Petro Index

Oil and gas producers in Texas kicked off the New Year with a bang, propelling the Texas Petro Index upward for the 14th straight month by continuing to increase production in response to higher wellhead prices. ...

Saudi oil chief seeks empowerment of women going beyond driving

Saudi Arabia is striving to achieve real female empowerment, especially in the workplace, going beyond recent changes that allowed women to drive cars for the first time, said the country’s energy minister. ...

Wood wins new contract to develop world's largest crude oil to chemicals project for Saudi Aramco, SABIC

Wood has been selected to develop the world's largest fully integrated crude oil to chemicals (COTC) complex in the Kingdom of Saudi Arabia, on behalf of Saudi Aramco and SABIC as the first PMC contractor. ...

Dramatic changes to the supply of frac sand could lead to efficiency gains in the Permian basin

A major report from Energent, part of Westwood Global Energy Group, the energy market research consultancy, predicts dramatic changes to the frac sand supply chain to the Permian basin, the world’s most important oil growth region. ...

Total closes Maersk Oil acquisition, becomes second-largest operator in North Sea

Total announces the closing of the Maersk Oil acquisition signed on Aug. 21, 2017. It brings to Total around 1 Bboe of 2P/2C reserves and resources, mainly in the OECD countries, and a production of about 160,000 boed in 2018, ramping up to more than 200,000 boed by the early 2020s. ...

Africa Oil completes investment in Impact Oil and Gas

Africa Oil Corp. has announced that it has completed the previously announced (Feb. 7, 2018) investment in Impact Oil and Gas Limited, a private UK company with exploration assets in South and West Africa. ...

Statoil invests in offshore digital technology

An integrated operations support center and a drilling operations center will help reach Statoil’s ambition of increasing value creation from operated fields in Norway by more than $2 billion from 2020 to 2025 before tax. ...

Aramco said to lead raft of Saudi-UK deals in prince's visit

Saudi Arabia’s national oil company signed a batch of deals with UK companies including Royal Dutch Shell Plc as Crown Prince Mohammed bin Salman visits the nation in an effort to demonstrate the kingdom is open for business. ...

Drilling permit granted to Lundin Petroleum for well 16/1-28 S in production license 338 C

Well 16/1-28 S will be drilled from the COSLInnovator drilling facility at position 58°48’51.49’’ north, 02°16’14.20’’ east in the central part of the North Sea. COSLInnovator is now drilling the appraisal well 16/4-11 for Lundin in production licence 359. ...

Saudi oil minister says Aramco IPO could be delayed to 2019

Saudi Arabia’s energy minister hinted the initial public offering of the state oil company Aramco could be delayed until 2019, pushing back a central plank of Crown Prince Mohammed bin Salman’s plan to modernize the economy. ...

CERAWeek '18: Rick Perry says U.S. set to unleash American energy—and technology—around the world

America’s development of hydraulic fracturing technology has enabled a new wave of oil and gas abundance in the U.S., and according to U.S. Energy Secretary Rick Perry, the country must focus on maximizing exports for this energy, as well as its technologies. ...

CERAWeek ’18: Pemex CEO stresses the importance of partnerships in Mexico

On Tuesday, during CERAWeek, IHS Markit’s senior V.P., Carlos Pascual, sat down with Pemex CEO Carlos Treviño and Petronas President and Group CEO Wan Zulkiflee, to discuss the increasingly critical future of upstream partnerships. Treviño said that “the new name of the game, for Pemex, is ‘partnerships.’” ...

Devon Energy to sell Barnett shale assets for $553 million

Devon Energy Corp. announced today it has entered into a definitive agreement to sell the southern portion of its Barnett shale position for $553 million. ...

Exxon says watch for oil shocks as demand becomes market driver

Soaring demand is the main reason for the rebound in oil prices -- but if the economy falters, crude could tumble back to $40/bbl, according to ExxonMobil Corp. ...

Perry jokes that he would be happy to tell FERC what to do

U.S. Energy Secretary Rick Perry may still be smarting a bit from the Federal Energy Regulatory Commission’s rejection of his “grid resilience” proposal that would have given a boost to nuclear and coal power plants. ...

Pouyanne takes risk on Middle East oil as big rivals favor U.S.

Patrick Pouyanne, the pugnacious boss of Total SA, sees risks differently. ...

Apache Corp. appoints David Pursell as senior V.P. of planning, energy fundamentals

Apache Corporation has announced that David Pursell has been named senior V.P. of planning and energy fundamentals, effective March 12. ...

ExxonMobil outlines aggressive growth plans to more than double earnings

ExxonMobil today outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. ...

Oil dips on forecast for rising stockpiles, Trump trade-war risk

Oil dropped for the first time in four sessions on a reported expansion in U.S. crude inventories and the risk of an intensifying global trade war sparked by President Donald Trump. ...

Equatorial Guinea energy outlook takes a double hit this week

OPEC member Equatorial Guinea suffered a double blow this week to its ambition of revitalizing its energy industry. ...

Norway's $1-trillion wealth fund reveals thinking on oil risk

The man running the world’s biggest wealth fund said snapping up oil stocks now could pay off down the line. It’s just not a good idea for Norway. ...

Saudis seek to tap shale basin rivaling Texas' Eagle Ford

Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas. ...

Oil rally stalls as American crude stockpiles seen rising

Oil halted its rally as the market anticipates another increase in U.S. stockpiles. ...

Cenovus CEO optimistic rail will help clear Canadian crude glut

Rail companies will start shipping more western Canadian crude by mid-year, helping clear a glut that’s devastated prices, Cenovus Energy Inc. CEO Alex Pourbaix said in an interview. ...

Oil bosses take different sides of shale boom-and-bust outlook

Two top oil company executives are taking contrasting views on how fracing is changing the industry’s life cycle. ...

U.S. oil output accelerating as OPEC meets With shale

U.S. crude production is poised to accelerate this year, reaching the highest annual average on record. ...

Conoco CEO says OPEC should extend output curbs beyond 2018

OPEC needs to embrace its role as the world’s “baffle" on oil prices if it wants to keep crude markets stable, ConocoPhillips CEO Ryan Lance said on Tuesday. ...

CERAWeek signals strong oil demand, yet EIA begs to differ

While the mood at this week’s CERAWeek by IHS Markit conference in Houston is bullish and officials are saying demand is on track and will eat away at global supplies to tighten oil markets, the U.S. government is forecasting the opposite scenario. ...

AMLO wants public's view on Mexico oil law, state candidate says

Mexico’s leftist front-runner Andres Manuel Lopez Obrador intends to seek a public consultation on the nation’s landmark energy reform, raising the possibility that the opening of the oil industry could be overturned, according to his Veracruz gubernatorial candidate. ...

OPEC Secretary General: Declaration of Cooperation ‘solid as the Rock of Gibraltar’

OPEC Secretary General Mohammed Barkindo asserted that the oil cartel’s ongoing efforts to limit global crude production, along with 11 non-OPEC countries, could serve as a long-term strategy to reduce boom-and-bust oil prices, while speaking at CERAWeek in Houston on March 5. ...

Hexion completes Canadian proppant manufacturing plant expansion

The Oilfield Technology Group (OTG) of Hexion Inc. today announced the completion of its resin-coated proppant manufacturing plant expansion in Canada. ...

Hunting introduces advanced semi-premium connection

Hunting Energy Services, a subsidiary of Hunting PLC, the international energy services company, today announced the introduction of its TEC-LOCK semi-premium connection technology. ...

OPEC-Shale dinner serves small talk on oil, not much else

OPEC officials and U.S. shale producers met for second consecutive year for dinner and "compared notes" after a difficult period of low oil prices -- with few signs the two sides are growing more fond of each other. ...

South Sudan oil linked to militias needs oversight, groups say

South Sudan’s state-owned oil company needs increased oversight to protect vital revenue in a country reeling from a civil war and at risk of famine, according to two groups monitoring the activity. ...

Angola's oil exports plunging as IEA warns worst is yet to come

Oil exports from Angola are slumping and the International Energy Agency says aging fields and a lack of interest from foreign investors mean the worst is yet to come. ...

Oil rises a second day as equity gains offset supply concerns

Oil rose in tandem with global equity markets, shrugging off concerns over a new wave of crude production from the U.S. as fears of a global trade war eased. ...

Saudi Arabia's former oil minister says don't worry about demand

Saudi Arabia’s former oil minister has some advice for anyone worried about a possible drop in future demand for crude: Chill. ...

Saudi bourse courts foreigners as it readies for oil giant's IPO

Saudi Arabia’s stock market is on a charm offensive as it prepares for what could be the world’s largest initial public offering. ...

OPEC Beware: Asia seen favoring U.S. shale oil as volumes soar

OPEC should beware as U.S. shale producers are set to steal a bigger slice of the world’s biggest oil market and threaten the cartel’s foothold in Asia, according to a top industry consultant. ...

Emerson, Total sign long-term global agreement for Paradigm EandP software solutions

Emerson announced today a long-term global agreement with Total S.A. to provide all Total geoscientists with access to Emerson’s Paradigm exploration and production (EandP) software portfolio, to help the global energy leader maximize performance of reservoir subsurface modeling and formation evaluation. ...

Norway illustrates potential of mature basins with record-breaking license awards, says GlobalData

Analysis of Norway’s upstream oil and gas industry shows that the country currently has 887 licensed blocks, of which 529 blocks are in the shallow water terrain and 358 are in deepwater terrain, according to GlobalData, a leading data and analytics company. ...

Wood Mackenzie: Will a shifting global market embrace U.S. crude?

As tight-oil production continues to grow, the U.S. is positioning itself as a major player in the global crude market, claiming a place it last held more than a century ago. With onshore lower 48 output expected to exceed 11 MMbpd by 2023, the U.S. is poised to become the world’s largest oil producer. ...

NOV introduces new well-service fluid ends and valves to Permian basin

As the intensity of completing unconventional wells continues to grow, so too do the demands on fracturing equipment. Longer laterals, rising stage counts, and increased pressures and proppant loadings per stage make hydraulic fracturing an extremely difficult—and consumptive—enterprise, particularly in the challenging wells seen in regions like the Permian basin. ...

IEA: Record oil output from U.S., Brazil, Canada and Norway to keep global markets supplied

Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency's latest annual report on oil markets. ...

Anadarko announces approval of Mozambique LNG development plan

Anadarko Petroleum Corporation today announced it has received official approval from the Government of Mozambique for the Golfinho/Atum field development plan. ...

President Energy reports a 66% increase in Neuquén basin 2P net reserves

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announces the results of the latest Argentine yearly reserves certified as at Dec. 31, 2017, conducted by JR Consultores led by Juan Rosbaco, a leading Argentine Reserves auditor. ...

Trump steel tariffs a 'troubling' sign for Canadian oil industry

The threat of American tariffs on Canadian steel sent shivers through the northern nation’s oil industry, sparking fears of higher costs for everything from pipelines to drilling equipment. ...

Libya's biggest oil field said to reopen after brief halt

Libya’s Sharara oil field, the country’s biggest, began pumping after the reopening of a pipeline to the Zawiya refinery. ...

Ex-exec at Sonangol denies any wrongdoing at state firm

Isabel Dos Santos, the billionaire fired as chairwoman of Angola’s state oil company last year, denied any wrongdoing in the transfer of $38.2 million from the company. ...

Greece's Energean raises $1.27 billion for Israeli gas fields

Energean OandG signed a financing agreement with Morgan Stanley for $1.27 billion to finance development of two natural gas fields off the coast of Israel. ...

IEA sees American energy dominance squeezing OPEC into 2020s

The U.S. will dominate global oil markets for years to come, satisfying 80% of global demand growth to 2020 as the shale boom keeps OPEC under pressure. ...

Saudis cut Asia light oil pricing for first time in eight months

Saudi Arabia cut pricing for Arab Light crude to Asia for the first time in eight months, a sign that the world’s largest oil exporter is fighting harder for sales in its biggest market. ...

Maersk's Danish exit comes with a $1.2 billion ball-and-chain

A.P. Moller-Maersk is about to exit the Danish offshore oil industry that it created half a century ago. ...

First LNG commissioning cargo departs from Cove Point terminal

A transport ship carrying the first cargo of liquefied natural gas produced for export departed Thursday, March 1, from the Dominion Energy Cove Point LNG terminal, where the newly constructed liquefaction facility is undergoing final commissioning. ...

U.S. oil drillers lift rig count to 800 for the first time since 2015

U.S. oil explorers raised the rig count to 800 for the first time in almost three years amid booming domestic and overseas demand for crude and petroleum-based fuels. ...

Drillers lift U.S. rig count to 800 for the first time since 2015

U.S. drillers raised the rig count to 800 for the first time in almost three years amid booming domestic and overseas demand for crude and petroleum-based fuels. ...

Explorers lift U.S. rig count to 800 first time since 2015

U.S. drillers raised the rig count to 800 for the first time in almost three years amid booming domestic and overseas demand for crude and petroleum-based fuels. ...

Gastar Exploration closes sale of non-core acreage in Oklahoma

Gastar Exploration Inc. has announced that it has completed the previously announced sale of its interest in the West Edmond Hunton Lime Unit (WEHLU) for $107.5 million. ...

Total acquires stake in Libya's Waha Concessions

Total has acquired Marathon Oil Libya Limited, which holds a 16,33% stake in the Waha Concessions in Libya. ...

Aker BP strikes oil near Alvheim in the North Sea

Aker BP is about to complete drilling of the Frosk exploration well 24/9-12 located near Alvheim in the North Sea. The well has proved oil. ...

Oil set for weekly drop on growing fears over shale, tariffs

Oil is set for the first weekly decline since early February as fears over booming shale output mingled with a broader selloff in risk assets as U.S. President Donald Trump’s tariffs threatened to spark a global trade war. ...

Libya's oil gushing again as output, exports hit multi-year highs

Libyan oil is gushing again with production and exports surging to the highest in year ...

Fracers in UK pick cold as time to make point on gas supply

Britain’s natural gas fracing industry is using a cold snap that’s gripped large swathes of Europe this week and laid bare weaknesses in the UK’s energy supply to make its pitch. ...

Chevron says climate change fallout no quick threat to oil

Climate change is critical to future energy markets but its effect on Chevron oil and gas business will be minimal for decades to come, according to a company report. ...

Russia to rescue as Europe draws more gas in Siberian chill

Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbor. ...

Abrado completes section-milled window utilizing a downhole mud motor

Abrado announced today that it has successfully completed the first casing section milled window utilizing a mud motor to power its patented Medusa expandable dual-string casing section-milling technology to successfully abandon a Gulf of Mexico well. ...

PetroChina said to agree to 2018 deal to lift Libya oil

PetroChina Co. agreed to an annual contract to buy Libyan crude after similar deals by oil majors like Royal Dutch Shell Plc and BP Plc, underscoring a recovery in the North African country’s production even as its political uncertainty persists. ...

OPEC oil production drops to 10-month low on UAE, Venezuela

Crude production from OPEC countries fell to a 10-month low in February, mainly due to maintenance at a field in the United Arab Emirates and continued output declines in Venezuela. ...

ExxonMobil to join Stanford strategic energy alliance

ExxonMobil Corporation today announced that it will become the first founding member of the new Stanford Strategic Energy Alliance, an initiative that will examine ways to improve energy access, security and technology while reducing impacts on the environment. ...

Statoil contracts West Phoenix to drill in UK, Norway

Statoil and its partners have contracted the West Phoenix rig for exploration drilling on the UK and Norwegian continental shelves from the summer of 2018. ...

Congo state oil company names new head amid debt-relief plans

Republic of Congo President Denis Sassou Nguesso appointed a new head of the state oil company as it struggles to pay creditors. ...

U.S. shale surge offsets lowest Saudi oil imports since 1980s

America’s role in the global oil market was flipped on its head in 2017. As shale producers cranked out more and more crude, the U.S. relied less and less on some of its traditional sources of oil. ...

UAE oil output said to drop most in year on works

Oil output in the United Arab Emirates slumped the most in a year last month as maintenance at fields in the Persian Gulf reduced supplies from the Middle East’s fourth-biggest crude producer. ...

Libya crude output is said to be stable despite key field's halt

Libya is keeping oil output steady as higher production from two of its biggest oil fields offsets the impact of a shutdown at a deposit operated by Italy’s Eni SpA. ...

Foreign direct investment in Canada plunges on oil exodus

Foreign direct investment into Canada plunged last year to the lowest since 2010, hampered by an exodus of capital from the nation’s oil sector and worries about the fate of the North American Free Trade Agreement. ...

Big freeze stretches UK gas supplies as prices skyrocket

The freezing weather entrenched across much of Europe is stretching Britain’s supply of natural gas with fresh snowfall forecast for much of the country. ...

China is said to probe chairman of emerging energy star CEFC

Ye Jianming, the founder and chairman of rapidly expanding Chinese conglomerate CEFC China Energy, has been investigated by government authorities. ...