Total and EDF enter exclusive negotiation for the sale of its stake in the Dunkerque LNG terminal

Total has decided to enter into an agreement to sell its 9.99% stake in the Dunkerque LNG terminal, as a part of a broader sale process initiated by EDF (65.01%) earlier this year. ...

Texas oil and gas production statistics for April 2018

Production for April 2018 as reported to the Railroad Commission of Texas (Commission) is 83,157,720 barrels of crude oil and 548,754,930 mcf (thousand cubic feet) of total gas from oil and gas wells. ...

Sabine Oil sells interest in Texas shale assets to Osaka Gas

OG East Texas, LLC has entered into an agreement with Sabine Oil and Gas Corporation to acquire 35% of Sabine’s working interest in the gas properties located primarily in Harrison and Panola Counties, Texas, U.S. ...

Chemstream proves ShaleTech advances start in the lab

HOMER CITY, Pa. -- In the past year, Chemstream has transformed what once was a small area nestled at one end of the company’s headquarters into a spacious, state-of-the-art laboratory. ...

ShaleTech advances start in the lab, touts Chemstream

HOMER CITY, Pa. -- In the past year, Chemstream has transformed what once was a small area nestled at one end of the company’s headquarters into a spacious, state-of-the-art laboratory. ...

Chemstream lab features cutting edge equipment and technology

HOMER CITY, Pa. -- In the past year, Chemstream has transformed what once was a small area nestled at one end of the company’s headquarters into a spacious, state-of-the-art laboratory. ...

Faroe Petroleum claims success in well sidetrack, production test in Nowegian Sea

Faroe Petroleum is pleased to announce a successful sidetrack well and successful production test following the drilling of the downdip appraisal well on Fogelberg located in the Norwegian Sea. ...

As crude tests begin, Ethiopia touts nascent oil, gas industry

Ethiopia’s nascent energy industry is gathering pace, with a unit of China Poly Group Corp. starting test output of crude oil in a volatile border region and the government estimating initial annual income of $1.2 billion when gas exports begin from the area. ...

India hunting for shorter LNG deals with import demand doubling

The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past. ...

South Africa halts oil exploration permits to revamp licensing

South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licensing process. ...

Maersk establishes new name for decommissioning JV

With the senior management team now in place and interest growing from potential customers, the decommissioning joint venture reaches a new milestone with the launch of its new name: Maersk Decom. ...

Iran is running out of options on oil

Iran’s position in the oil market is looking weaker than ever as a bruising OPEC meeting and tightening net of U.S. sanctions leave it with fewer friends and fleeing customers. ...

Enbridge pipeline gets Minnesota nod in win for oil sands

Canada’s oil industry just moved one step closer to getting some relief from its pipeline woes. ...

BP, Chevron pushing gas as fossil fuel answer to global warming

To reduce emissions and provide affordable electricity, the world needs to burn more fossil fuels, not less. ...

Global natural gas prices rise for first time in two years

Global natural gas prices are increasing for the first time in two years with demand for the fuel advancing across the world. ...

Gulf Energy Information, World Oil partner with PBWMC to host day two of ShaleTech

Gulf Energy Information, the media and market intelligence company that produces World Oil and its associated events, is pleased to announce the addition of a special water management segment at ShaleTech 2018. ...

Wintershall awards rig contract for Nova development

Wintershall Norge AS has awarded a rig contract for the Nova development to Seadrill Norway Operations Ltd who will operate the West Mira drilling rig on behalf of Northern Drilling. ...

Petrofac awarded well project management contract on New Zealand's North Island

Petrofac's Engineering and Production Services business has strengthened its presence in Australasia following the award of a Well Project Management contract from Tamarind Taranki Ltd (Tamarind). ...

Marketing efforts underway for Mozambique's Rovuma LNG project

Eni and ExxonMobil said today that marketing efforts are underway for the Rovuma LNG project, which will produce, liquefy and sell natural gas from the gas fields of the Area 4 block offshore Mozambique. ...

FairfieldNodal changes name to Fairfield Geotechnologies

FairfieldNodal has changed its name to Fairfield Geotechnologies (Fairfield Geo). The name change reflects Fairfield Geo’s strategy and continuing evolution as a provider of life-of-field technology, data and solutions. ...

Royale Energy acquires more oil in the Permian basin, California

Royale Energy, Inc., announced today it has entered into a Letter of Intent with an undisclosed company to purchase it’s non-operated interests in Permian basin and California oil fields. ...

Oranto Petroleum farms into Zambian oil blocks

Pan-African explorer Oranto Petroleum is farming into two exploration blocks located onshore Zambia. Blocks 17 and 27 represent Oranto’s first investment in the country. ...

Some top oil buyers are thinking about shunning Iranian oil

At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands. ...

Libya State Oil Co. confident eastern rival can't ship crude

The chairman of Libya’s National Oil Corp. in Tripoli said he’s confident that the U.S. and other world powers would help block authorities in eastern Libya from exporting any crude after militia captured key ports there. ...

Emerging shale oil producer is courting Exxon and Chevron

Algeria’s energy industry is open for business. ...

Crude surges to 3 1/2-year high after U.S. stockpiles plunge

Oil rose to a level last seen in late 2014 after U.S. crude stockpiles tumbled by the most since September 2016. ...

KCA Deutag awarded contract on two platforms in the UK North Sea with Total

Global drilling and engineering contractor KCA Deutag announces that its offshore business unit has been re-awarded a new drilling contract on the North Alwyn and Dunbar platforms by Total E and P UK Limited (“Total”). ...

Equinor granted drilling permit for Cape Vulture appraisal wells

The Norwegian Petroleum Directorate has granted Equinor Energy AS a drilling permit for wells 6608/10-18, 6608/10-18 A and 6608/10-18 B, cf. Section 15 of the Resource Management Regulations. ...

Some top oil buyers are thinking about shunning Iran oil

At least some buyers of Iranian supplies in the world’s biggest oil market are considering acquiescing to U.S. President Donald Trump’s demands. ...

Kazakh oil output dips as list of disrupted producers lengthens

Add Kazakhstan to the list of oil producers whose supply is restricted. ...

Oil gains as harder U.S. stance on Iran overshadows Saudi pledge

Oil rose to a one-month high as the risk of a supply crunch continued to buoy markets, with a U.S. demand that Iran’s customers halt their imports overshadowing Saudi Arabia’s promise to boost output. ...

OPEC supply buffer shrinks as it heeds call to pump more oil

OPEC is heeding consumers’ calls to pump more crude, but that’s only making the oil market more nervous. ...

Oasis Petroleum to divest certain Williston basin assets

Oasis Petroleum Inc. has signed two separate purchase and sale agreements to sell an estimated 4,400 boed of net production and approximately 65,000 net acres of non-core assets in the Williston basin for $283 million. ...

DNV GL survey sees oil and gas professionals preparing for gas overtake

Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. ...

Aquaterra Energy wins well construction work for Johan Sverdrup

Aquaterra Energy, a leader in global offshore engineering solutions, has been selected by Equinor to deliver early well construction operations, via its Well Start solution, for Johan Sverdrup field. ...

IEA: The gas industry's future looks bright over next five years

Strong demand growth from China, greater industrial demand, and rising supplies from the United States, will transform global natural gas markets over the next five years according to the International Energy Agency's latest market forecast. ...

China trade fight puts billions in U.S. energy projects in doubt

China Energy Investment Corp. pledged almost $84 billion in shale gas and chemical manufacturing projects across West Virginia after President Donald Trump’s trade mission to Beijing in November, but when it came time to discuss details officials were a no-show. ...

Oil pauses advance as Saudis plan record July output

Crude oil’s advance slowed as Saudi Arabia was said to plan record crude oil production in July. ...

Icahn won't bid for SandRidge after winning control of board

Activist investor Carl Icahn won’t make a bid to buy oil and gas explorer SandRidge Energy Inc., the company said in a regulatory filing Monday. ...

GE to divest Baker Hughes stake

GE plans to spin off its health-care business and divest its stake in oilfield-services provider Baker Hughes as CEO John Flannery focuses the struggling company on power, aviation and renewable energy. ...

GE to spin off health business, divest Baker Hughes stake

GE plans to spin off its health-care business and divest its stake in oilfield-services provider Baker Hughes as CEO John Flannery focuses the struggling company on power, aviation and renewable energy. ...

Otto Energy sets a date for Nanushuk prospect drilling, on Alaska North Slope

Otto Energy Limited has advised that it has executed a binding term sheet agreement that will see Otto participate in the drilling of a highly prospective Nanushuk oil trend exploration well within its Western Blocks on the Alaska North Slope in early 2019. ...

Petrobras announces start of production at Tartaruga Verde field

Petrobras has announced the start of production at Tartaruga Verde field, in the deep waters of the Campos basin, by means of FPSO Cidade de Campos dos Goytacazes. ...

Maersk Drilling awarded contract extension by Brunei Shell Petroleum

Maersk Drilling has been awarded a contract extension for the jackup rig Maersk Convincer by Brunei Shell Petroleum (BSP). ...

Eni reports discovery at Kalimba prospect, offshore Angola

Eni announces a new oil discovery in Block 15/06, in the Kalimba exploration prospect, in Angola’s deep offshore. The new discovery is estimated to contain between 230 and 300 MMbbl of light oil in place. ...

BHGE awarded subsea, well completions contracts for Australia's Gorgon project

Baker Hughes, a GE company has been awarded a substantial contract from Chevron Australia Pty Ltd. for the supply of subsea production equipment, under a 15-year Master Service Order (MSO), with a second contract for well completion equipment. ...

OPEC's newest member may boost output as much as 65% this year

The Republic of Congo expects to raise oil production by as much 65% this year as two new projects come on stream, Hydrocarbons Minister Jean-Marc Thystere-Tchicaya said. ...

Shell approves North Sea project, seeing "life in old dog"

Royal Dutch Shell Plc approved its second North Sea project in six months, greenlighting a natural gas field that it considered uneconomical to produce from six years ago. ...

Angola in talks with majors to boost oil output by 2020

Angola is targeting an increase of about 250,000 bpd in oil output by 2020 and is already in discussions with oil majors ExxonMobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. ...

Goldman Sachs says U.S. oil drama trumps OPEC's Vienna chaos

The most dramatic events in the oil market last week occurred in North America as opposed to OPEC’s get-together in Europe. ...

Future of oil majors increasingly shaped by fate of global gas

Major oil company’s fortunes are becoming tied more closely to natural gas than ever before. ...

USGS estimates 8.5 Bbbl of oil in Texas’ Eagle Ford Group

The Eagle Ford Group of Texas contains estimated means of 8.5 Bbbl of oil, 66 Tcf of natural gas, and 1.9 Bbbl of natural gas liquids, according to a new assessment by the U.S. Geological Survey. This estimate consists of undiscovered, technically recoverable resources in continuous accumulations. ...

Eni exits Croatia's upstream sector

Eni and INA-INDUSTRIJA NAFTE, d.d. have signed an agreement to enable INA-INDUSTRIJA NAFTE, d.d. to acquire 100% of Eni Croatia b.v., that currently produces about 2,500 boed. ...

Still plenty of discoveries to be made on the Norwegian shelf, NPD says

The Norwegian Petroleum Directorate (NPD) has published the 2018 Resource Report for Exploration. The report shows that production of oil and gas will increase going forward – but that new and larger discoveries have to be made in order to maintain the same level after the mid-2020s. ...

Equinor, Microsoft partner for cloud services delivered from new cloud data centers in Norway

Equinor and Microsoft have entered into a strategic partnership agreement. As part of the agreement, Equinor will provide industry knowledge and business needs to support Microsoft in developing new solutions for the industry. Microsoft will provide expertise to accelerate Equinor’s IT development and establish new data center regions in Stavanger and in Oslo. ...

U.S. asks Japan to halt purchase of Iran oil in harder stance

The U.S. has asked Japan to completely halt oil imports from Iran, going beyond the reductions that were demanded when sanctions were imposed earlier this decade, according to people with knowledge of the matter. ...

Shell completes sale of stake in Thailand’s Bongkot field

Shell has announced that its affiliates, Shell Integrated Gas Thailand Pte Ltd. and Thai Energy Company Ltd., have completed the sale of their 22.2222% interest in Bongkot field and adjoining acreage offshore Thailand. ...

Argentina resurrects oil intervention panic with cabinet switch

Javier Iguacel has left the road for the oilfield, and that may mean a complete about-face on Argentine energy policies. ...

Oil explorers get best results in Norway since 2010 bonanza

Oil companies in Norway have more to rejoice about than just higher crude prices: they’re now boasting the best exploration results in almost a decade. ...

OPEC reaches decision on output boost

Brent crude gained in London as OPEC ministers were said to agree upon a deal in principle too boost production. ...

Shell seen rediscovering swagger in Texas shale fields

Shale oil hasn’t always been Royal Dutch Shell’s best friend, but they’re working on the relationship. ...

Russia-Saudi plans for super-OPEC could reshape global oil order

When the group overseeing the so-called OPEC+ deal met last night, proceedings were dominated by two nations: Saudi Arabia and Russia. It was probably a snapshot of the oil market’s future. ...

Noia Oil and Gas Conference 2018 comes to a close

The Newfoundland and Labrador Oil and Gas Industries Association (Noia) 34th annual oil and gas conference was held this week at the St. John’s Convention Centre. Themed Redefining Oil: The Time is Now, the conference heard from a variety of speakers with the themes of regulatory clarity and investment support. ...

Mubadala Petroleum completes acquisition of 10% interest in Egypt's Shorouk Concession

Mubadala Petroleum announces that it has completed the acquisition from Italy’s Eni of a 10% participating interest in the offshore Shorouk Concession in Egypt, which contains the super giant Zohr gas field. ...

Halliburton introduces advanced solids control and separation system

Halliburton has announced the release of its BaraOmni hybrid separation system, a next-level separation technology that effectively removes ultra-fine low gravity solids (LGS), resulting in better performing, longer lasting fluid systems to help operators significantly reduce costs. ...

Libya oil exports to resume at key ports as OPEC meets on supply

Libya’s state oil company plans to start exporting again “soon” from two of the country’s biggest oil ports after eastern military commander Khalifa Haftar retook control of the terminals following clashes with a rival military force. ...

Saudis take oil consumers' side as OPEC nears pivotal talks

With fewer than 24 hours to go before a pivotal meeting, Saudi Arabia urged OPEC to help consumers by boosting oil supply as opposition from arch-rival Iran showed signs of wavering. ...

HydraWell signs contract with Chevron for UK plug and abandonment services

HydraWell has signed a contract with Chevron North Sea Limited for the provision of equipment and personnel for plug and abandonment (PandA) services on the UK continental shelf. ...

Echo Energy reports significant oil discovery in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced a significant light oil column has been interpreted in its third well, onshore Argentina. ...

Shale Support purchases two natural mines in Louisiana

Shale Support, a leading provider of frac-sand and logistical solutions to the oil and gas proppant market, today announced it has closed on a deal purchasing two natural mines in Kinder and Central Louisiana. ...

IPAA supports onshore permitting, regulatory reform legislation

Independent Petroleum Association of America (IPAA) President and CEO Barry Russell in a letter praised the House Committee on Natural Resources for advancing smart, thoughtful solutions that would remove bureaucratic regulatory burdens to safe and responsible oil and natural gas development on public lands. ...

Unfractured wells growing as Permian pipeline scarcity worsens

Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. ...

U.S. sanctions on Iranian oil stir up a corner of the market

Effects of the U.S. sanctions on Iran are spreading beyond the world of crude to some corners of the oil market. ...

Unfracked wells growing as Permian pipeline scarcity worsens

Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. ...

Exxon, Hess report eighth oil discovery offshore Guyana

ExxonMobil announced that it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. ...

Oil industry stands on threshold of historic step change in demand for its products

The oil and gas industry stands on the threshold of an historic step change in the demand for its products, driven by growth in every major market, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO. ...

OPEC races to salvage oil deal after Iran, Saudi clash

OPEC officials meeting in Vienna raced to salvage an oil-production deal on Wednesday after Iran said it was likely to reject any agreement that raised output from the group. ...

Icahn expected to speed push for SandRidge sale after board win

Carl Icahn’s takeover of SandRidge Energy Inc.’s board means the shale gas explorer’s days are likely numbered. ...

Mozambique says Exxon, Eni exploration contracts nearly ready

Mozambique’s oil and gas regulator said exploration contracts for the nation’s fifth licensing round in 2015, which awarded blocks to companies including ExxonMobil Corp. and Eni SpA, are close to being finalized. ...

Shell sells Draugen, Gjøa interest in Norway

Royal Dutch Shell plc, through its affiliate A/S Norske Shell, has reached an agreement with OKEA AS to sell its entire 44.56% interest in Draugen and 12.00% interest in Gjøa in Norway for $556 million (NOK 4,520 million). ...

Shell sells equity in Malaysia LNG Tiga for $750 million

Shell completes Malaysia LNG Tiga equity sale Shell Gas Holdings (Malaysia) Limited, a subsidiary of Royal Dutch Shell plc, announced today that it has completed the sale of its 15% shareholding in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) to the Sarawak State Financial Secretary (SFS) for an agreed consideration of $750 million. ...

Pioneer sees oil at $100 if there's no supply boost

OPEC ministers have arrived in Vienna for one of the cartel’s most contentious meetings in years as Iran opposes proposals to boost production. ...

Pioneer sees oil at $100 if there's no supply boost: OPEC update

OPEC ministers have arrived in Vienna for one of the cartel’s most contentious meetings in years as Iran opposes proposals to boost production. ...

Shale giant says Permian oil faces shut ins on pipe shortage

The biggest U.S. shale region will have to shut wells within four months because there aren’t enough pipelines to get the oil to customers. ...

SDX Energy reports gas discovery in Egypt's South Disouq Concession

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a gas discovery has been made at its SD-4X well in the South Disouq Concession, Egypt (SDX 55% working interest and operator). ...

Wintershall awarded new acreage in Norway's 24th licensing round

Wintershall Norge AS has announced that the company has been awarded new acreage in the 24th licensing round on the Norwegian Continental Shelf (NCS). ...

Equinor awards light well intervention contract to Akofs

Akofs Offshore has been awarded a contract for light well intervention services using the Akofs Seafarer vessel for all Equinor-operated licences in the period 2020 to 2025. ...

OPEC's plunging spare capacity poised to boost forward oil curve

What happens if the Organization of Petroleum Exporting Countries can’t pump enough oil? ...

Icahn is said likely to have won control of SandRidge board

Activist investor Carl Icahn is expected to have won control of embattled oil and gas driller SandRidge Energy Inc.’s board based on preliminary results, according to people familiar with the matter. ...

Reveal Energy Services signs first operator volume agreement

Reveal Energy Services has announced the signing of its first operator volume agreement. Arsenal Resources, a pure-play natural gas operator in the Marcellus’ West Virginia core, has agreed to validate the completion designs of its 2018 wells with Reveal Energy Services’ simple, accurate, affordable pressure-based fracture maps. ...

Diamond Offshore Drilling signs helical license extension with Trelleborg

Following the successful manufacture of four strings of Helically Grooved Buoyancy for Diamond’s ‘Blackship’ vessels, combined with an extremely positive market reception to performance validation data, Diamond Offshore Drilling have extended the exclusive license for Trelleborg’s offshore operation to this patented technology until 2029. ...

EMGS announces multi-client revenues related to 24th license round awards

The Norwegian Ministry of Petroleum and Energy (MPE) has announced the awards of new production licenses in the 24th licensing round on the Norwegian continental shelf. ...

Rockhopper Exploration provides update on operations in Egypt

Rockhopper Exploration, the oil and gas company with key interests in the North Falklands basin and the Greater Mediterranean region, has provided the following operational and corporate update in relation to its Egyptian portfolio. ...

Saudi dilemma: Output boost could hurt its oil-based economy

Saudi Arabia’s plan to halt the oil-price rally could hurt its economy, depriving the kingdom of billions of dollars in income that it needs more than other OPEC members. ...

OPEC faces a bigger problem in Washington than Trump tweets

OPEC is facing a renewed political assault in Washington, directly from President Trump’s Twitter account, and from Congress. ...

Equinor offered seven licenses in Norway's 24th licensing round

The Ministry of Petroleum and Energy has offered Equinor seven licenses in the 24th licensing round – five operatorships and two partner positions. ...

In Icahn-SandRidge tiff, bitter words hide overlapping targets

The oil industry’s ugliest battle is heading for a climax in Oklahoma City on Tuesday. But SandRidge Energy Inc. is probably bound for the auction block anyway. ...

Shell seen reclaiming dominance in Texas shale country

Shale oil hasn’t always been Royal Dutch Shell Plc’s best friend, but they’re working on the relationship. ...

Baytex Energy, Raging River Exploration announce merger valued at $5 billion

Baytex Energy Corp. and Raging River Exploration Inc. have announced that their respective boards of directors have unanimously agreed to a strategic combination of the two companies. ...

Santos, Conoco award FEED contracts for Barossa project, offshore Australia

Santos announced further progress on the front end engineering and design (FEED) phase of the Barossa offshore project with the award of three major engineering contracts. ...

Empyrean Energy completes oil migration study offshore China

Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the U.S., has announced that a comprehensive oil migration study encompassing China's Block 29/11, for which it holds 100% exploration rights, has now been completed and has established potential oil migration pathways into the Jade, Topaz and Pearl prospects. ...

President Energy reports 50% output increase at Puesto Flores field

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides an update in relation to its workover program at Puesto Flores field in Rio Negro Province, Argentina. ...

OPEC aims for modest output hike to overcome Iran's dissent

OPEC is discussing a production increase before its meeting in Vienna in an attempt to bridge the gap between Russia’s push for a big rise and Iran’s insistence that no change is needed. ...

U.S. oil's pricing allure risks being dulled by China tariff

China’s planned levies on U.S. crude as part of an escalating trade dispute threatens to dim the attractiveness of American supplies in the world’s biggest oil-importing nation. ...

Industry needs to demonstrate "license to operate," says new OE2019 chair

The energy industry has to continuously demonstrate its excellence in order to maintain a ‘license to operate’, says the newly appointed conference chair of SPE Offshore Europe 2019 Michael Borrell, senior V.P., North Sea and Russia at Total. ...

Iran says three OPEC members to veto Saudi-proposed supply boost

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. ...

Rick Perry wants to help Argentina be more like Texas

The U.S. government is getting in on a shale boom 5,000 mi (8,000 km) from home. ...

Rosneft says it is "comfortable" with $70-$80 oil

Rosneft PJSC’s said crude at $70 to 80/bbl was a “comfortable level” and expressed satisfaction with the results of Russia’s joint supply cuts with OPEC, just a week before talks that could phase them out. ...

Equinor acquires interest in Brazil's Roncador field

Equinor and Petrobras have completed their transaction announced in December 2017, whereby Equinor has acquired a 25% non-operated interest in Roncador oil field in Brazil’s Campos basin. ...

Lukoil commissions third well at Vladimir Filanovsky field

Lukoil completed the construction and commissioned the third well at the second development stage of Vladimir Filanovsky field in the Caspian Sea. ...

ANWR could boost U.S. oil supplies, but it's going to be a while

Don’t hold your breath waiting for oil from ANWR. ...

Oil set for further loss in London as OPEC clash on supply looms

Oil headed for a second weekly decline in London as OPEC members were set to clash on raising production at a meeting next week. ...

Rice University engineers advance NMR models for oil and gas

New work by Rice University chemical engineers may make it easier to characterize unconventional oil or gas shale formations. ...

Iran oil exports slide in early ship data after Trump sanctions

Iran’s oil exports fell sharply in the first two weeks of June, indicating that U.S. President Donald Trump’s re-imposition of sanctions may be discouraging some buyers. ...

Magnolia Petroleum sees potential sale of North Dakota assets to avoid bankruptcy

Magnolia Petroleum plc, the U.S. focused oil and gas EandP company, has announced that it has signed a non-binding agreement with a third party for the sale of all its wells in which it has varying interests in North Dakota, being approximately 31 wells, for a total consideration of $1.5 million. ...

Danos wins contract for Shell's Appomattox platform in deepwater GOM

Danos is pleased to announce that Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell, has awarded a contract to Danos to provide coatings for Shell’s deepwater Appomattox platform in the Gulf of Mexico. ...

Oil trades near $67 as Saudi Arabia sees "inevitable" supply boost

Oil steadied just below $67/bbl as Saudi Arabia’s energy minister said an OPEC agreement to raise production is “inevitable.” ...

Oil play ditched years ago draws EOG, Conoco as Permian fallback

The next frontier for U.S. oil’s resurgence may come on familiar terrain. ...

China and India want to buy more U.S. oil to counter OPEC

Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market. ...

CGG delivers final PSTM products for Dunquin multi-client survey, west of Ireland

CGG has completed the Pre-Stack Time Migration (PSTM) of its 2,500-km2 Dunquin multi-client survey acquired in Block 44 of the Porcupine basin, west of Ireland, in 2017. ...

Noble Group plunges to record low as rescue deal is elusive

Shares of Noble Group slumped to a record low as efforts to get shareholder agreement on a controversial $3.5 billion debt restructuring deal take longer than expected. ...

Libyan oil exports impaired as some in OPEC seek more supply

Two of Libya’s biggest oil ports stopped loading crude after armed forces clashed nearby, taking more bbl off the market just as OPEC mulls proposals to boost production. ...

GPS 2018: CAPP says growth of Canadian oil production remains constrained

During the opening day, Tuesday, of this year’s Global Petroleum Show in Calgary, the Canadian Association of Petroleum Producers (CAPP) released its 2018 Crude Oil Forecast, Markets and Transportation report. ...

Corridor Resources to suspend work on Old Harry Project, in the Gulf of St. Lawrence

Corridor Resources Inc. has announced that it has completed its integrated geotechnical analysis of the Old Harry prospect comprised of data from a controlled source electromagnetic survey (CSEM) and reprocessed two dimensional (2D) seismic. Old Harry is a large (43,000-acre), undrilled structure with four-way closure located in approximately 470 m of water in the Gulf of St. Lawrence, straddling the border of Newfoundland and Quebec. ...

Republic of Congo announces promotion of License Round Phase 2

The Ministry of Hydrocarbons of the Republic of Congo has announced the promotion of the Congo-Brazzaville License Round Phase 2 2018/19 at Africa Oil Week, Nov. 5-9, 2018. ...

ONGC moves 29 offshore rigs ahead of Indian monsoon season

The Oil and Natural Gas Corporation Limited (ONGC) has successfully moved 29 mobile offshore drilling rigs prior to the Indian monsoon season. ...

IHS Markit: “Stunning” Permian oil production to more than double from 2017-2023

Oil production in the Permian basin, already a major force in global supply growth, will rise nearly 3 MMbpd by 2023—a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit says. What the report describes as a “stunning” level of growth will comprise more than 60% of net global production growth during that timeframe. ...

Trump renews Twitter assault on OPEC, pushing to cut oil prices

Donald Trump renewed his Twitter assault on OPEC, pushing the case for lower oil prices a week before the cartel meets to set production policy. ...

OPEC "at it again" by inflating oil prices, Trump says in Tweet

President Donald Trump set his sights once again on OPEC, which he accused of inflating oil prices. ...

Iran sees OPEC sticking to supply limits as no need for more oil

OPEC nation Iran said it expects the group to stick with its pact to restrain oil supply as world markets don’t need more crude. ...

MEI projects Marcellus, Utica and Permian to supply 55% of U.S. gas by 2030

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight to the global energy industry, forecasts that the Marcellus, Utica, and Permian shale plays will supply 55% of the North American gas market by 2030. ...

McKinsey Energy Insights projects Marcellus, Utica and Permian to supply 55% of U.S. gas by 2030

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight to the global energy industry, forecasts that the Marcellus, Utica, and Permian shale plays will supply 55% of the North American gas market by 2030. ...

CGG completes multi-client survey in Zambezi Delta basin, Mozambique

CGG has completed acquisition of 15,400 km2 of 3D marine seismic data in the outer Zambezi Delta basin, west of the Beira High. The survey area covers blocks Z5-C and Z5-D and surrounding non-held acreage. ...

Saudis are said to float range of ideas for higher OPEC output

Saudi Arabia has proposed several crude output hike plans to OPEC members, including one with a two-step increase, as the kingdom seeks ways to narrow differences with Russia and the rest of the cartel. ...

IEA says Iran, Venezuela oil output could slump by almost 30%

Iran and Venezuela could lose almost 30% of their oil output next year due to U.S. sanctions and economic upheaval, requiring extra supplies from OPEC's Gulf members. ...

Russia is said to seek full cuts rollback for most of OPEC

Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels, rolling back most of their output cuts within three months. ...

Global Petroleum Show opens in Calgary with revamped format

The Global Petroleum Show opened with an improved lineup of features that include a business and technical conference, and a new GPS Awards Gala. GPS organizers are hoping for/expecting attendance of 50,000 for the three days ending on June 14. ...

CAMRO study shows Colorado stands to lose $26 billion if bans on energy development pass

The Colorado Alliance of Mineral and Royalty Owners (CAMRO) released a report prepared by Netherland, Sewell, and Associates showing that untapped minerals in Colorado’s Wattenberg field could have an expected ultimate recovery of nearly $180 billion over the life of the field. ...

OPEC likely to agree to a production increase next week

OPEC will probably overcome internal disputes to agree on a production increase next week to temper rallying prices. ...

Colorado Association of Mineral and Royalty Owners study shows Colorado could be on the hook for $26 billion if bans on energy development pass

The Colorado Alliance of Mineral and Royalty Owners (CAMRO) released a report prepared by Netherland, Sewell, and Associates showing that untapped minerals in Colorado’s Wattenberg field could have an expected ultimate recovery of nearly $180 billion over the life of the field. ...

OPEC likely to agree production increase next week

OPEC will probably overcome internal disputes to agree on a production increase next week to temper rallying prices. ...

America's LNG exports may double prices by 2040 as demand surges

Exports of U.S. LNG may double prices by 2040, but rising output and better trade balances will soften the blow to consumers. ...

MENA Supply: Robust performance amid tense geopolitical environments

The Arab Petroleum Investments Corporation (APICORP), the multi-lateral development bank focused on the energy sector, published its latest research report, which focuses on the performance of the different countries in the MENA region’s oil supply, in the context of regional geopolitics. ...

Serinus Energy finds gas pay at Romanian confirmation well

Serinus Energy announced drilling at its Moftinu 1007 well has concluded, achieving a TD of 1,463 m. ...

Kenyan parliament approves oil law setting out revenue sharing

Kenyan lawmakers approved a new law that sets out how revenue from future oil production will be shared. ...

ExxonMobil commences development drilling offshore Guyana

ExxonMobil commenced drilling on its Liza Phase 1 development offshore Guyana. ...

Serinus Energy finds gas pay at Romania confirmation well

Serinus Energy announced drilling at its Moftinu 1007 well has concluded, achieving a TD of 1,463 m. ...

Oil trades near $66 as OPEC split deepens over production boost

Oil traded near $66/bbl as producing countries disagreed over relaxing output curbs and OPEC highlighted the uncertainty over the strength of demand later this year. ...

Next up in China's clean-air push is a gas pipeline behemoth

China’s push to eradicate smog by using more natural gas is set to get a boost as it pushes ahead with a plan to merge under one company a national pipeline network that would unify transport and investment decisions. ...

OPEC highlights oil demand uncertainty before crucial meeting

OPEC emphasized the deep uncertainty over the strength of demand for its oil just a week before contentious talks on whether to raise production. ...

Johan Castberg: Norway’s new Barents Sea cash machine wins approval

Formal approval by the Norwegian parliament of Equinor’s plan to develop the Johan Castberg field in the Barents Sea signals the start of an ambitious project that is poised to generate some NOK 264 billion ($33 billion) in profits. ...

Weatherford is said to plan sale of laboratories business

The Swiss oilfield services company Weatherford International Plc is considering a sale of its laboratory business, according to people with knowledge of the matter. ...

Saudi oil output said to rise above 10 MMbpd

Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week where they may propose raising production even further and phasing out 18 months of voluntary cuts. ...

Subsea 7 secures contract from Shell for Penguins Project

Subsea 7 has announced the award of a contract by Shell for the Penguins Redevelopment Project, located approximately 150 mi northeast of the Shetland Islands. ...

OPEC resistance to Saudi supply plan grows with Iraqi defiance

Iraq said OPEC should resist pressure to increase oil supplies, strengthening opposition to plans by Saudi Arabia as the group prepares to meet next week. ...

GeoPark announces new Argentina acquisition, YPF partnership

GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil and Chile, today announced further expansion in the Neuquen basin in Argentina with the acquisition of Los Parlamentos Block in partnership with YPF S.A. (YPF), the largest oil and gas producer in Argentina. ...

TGS, PGS announce more 3D multi-client acquisition offshore East Canada

TGS and Petroleum Geo-Services (PGS) announce that a second vessel, the Ramform Sterling, will be allocated to the 2018 East Canada acquisition program. ...

Ghana to buy contracts to protect it from high oil prices

Ghana will buy contracts to protect it from higher oil-product prices in the third quarter as the West African nation seeks to curb volatility in what consumers pay at the pump amid rising costs of the fuel in international markets. ...

Once cash rich, India's demands erode 90% of ONGC's warchest

India’s Oil and Natural Gas Corp., which once had $4.3 billion of funds, is now bleeding cash. ...

Pertamina awards EPC contract for gas capacity increase to Bonatti

Pertamina Algeria EP has awarded to Bonatti the contract worth 85 Million Euro for the provision of engineering, procurement, and construction of a gas capacity increase project for MLN field, which will upgrade the existing facilities to treat the future expected gas flow and enhance the oil production. ...

Total announces extension of Tin Fouyé Tabankort gas, condensate field in Algeria

Sonatrach, Total, Repsol and Alnaft (the National Agency for the Valorisation of Hydrocarbon Resources), have signed a new concession contract for a period of 25 years to extend the exploitation of the Tin Fouyé Tabankort (TFT) gas and condensate field. ...

Echo Energy reports positive well test results at Cañadon Salto field, Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, announces the succesful completion of the extended well test following the workover on well CSo-85 located in the mature Cañadon Salto field in the Company's Fracción D asset, in Joint Venture between Echo and its Argentine partner Compañía General de Combustibles S.A. (CGC). ...

Oil slips on signs Russia boosted crude output before OPEC meets

Oil extended declines as Russia was said to increase output before it meets with OPEC, adding to signs that a global coalition of producers is unwinding a pact to restrain supply. ...

Hedge fund with 69% return sees more to come from oil recovery

A hedge fund run by a former associate of billionaire John Fredriksen has gained 69% in two years betting on shunned oil-related assets -- and it’s not nearly done exploiting the recovery. ...

Oil explorers hungry for "super-spec" rigs expand U.S. drilling

Oil drillers added more rigs in the U.S. this week, undaunted by pipeline bottlenecks that are hindering efforts to ship crude from the nation’s busiest field. ...

API welcomes BLM clarification for U.S. oil, gas development on public lands

API today welcomed the Bureau of Land Management’s (BLM) issuance of a new policy directing its field offices to expedite its review and approval processes for natural gas and oil exploration and production projects on federal lands, consistent with the intentions of Congress when it enacted the Energy Policy Act of 2005. ...

Equinor reports discovery at Utsira High, northwest of Johan Sverdrup

Equinor and partners Lundin and Spirit Energy have struck oil in the PL 167 license at the Utsira High in the North Sea. The discovery is currently estimated to contain 15-35 MMbbl of recoverable oil equivalent. ...

Indian Essar Oil Limited rebrands as Nayara Energy Limited

Indian Essar Oil Limited has been rebranded as Nayara Energy Limited. The decision was finalized at an extraordinary general meeting of its shareholders. ...

Oil heads for weekly gain as investors seek clues on OPEC output

Oil headed for its first weekly gain since mid-May as investors weighed mixed signals from OPEC members about whether the group and its allies will increase output. ...

Citigroup sees oil forcing up inflation faster than historically

The recent surge in the price of oil is set to propel global inflation faster than historically and by more than investors are anticipating, in part because key central banks are unlikely to respond by tightening monetary policy, according to Citigroup Inc. ...

Oil rigs operating off Africa rebound to highest in two years

Oil exploration in Africa is showing signs of recovery after the number of rigs off the continent rose to the highest in almost two years, with more scheduled in coming months. ...

TGS announces its seventh onshore seismic project for 2018

TGS announces its seventh onshore seismic project for 2018, Dawson Phase II 3D seismic survey in Canada. ...

Petrofac secures Irish Sea contract extension

Petrofac has secured a two-year contract extension on Eni UK Limited’s Liverpool Bay Development, valued in the region of $65 million. ...

Equinor deepens position in Brazil's pre-salt region

Equinor, ExxonMobil and Petrogal Brasil presented the winning bid (75.49% profit oil) for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity. ...

OPEC finds rewards from oil-supply cuts weren't evenly split

OPEC’s members all benefited from last year’s supply deal, but the rewards weren’t evenly divided. ...

Africa oil giant needs $12 billion to avoid missing LNG boat

On a tropical island just off the coast of Nigeria, hundreds of engineers work around the clock to produce liquefied natural gas at a plant the size of Lower Manhattan. ...

Energy Web Atlas, ESRI partner to enhance energy data offering

Gulf Energy Information, a leading provider of market intelligence and technical information for the international energy industry, announced today that the Energy Web Atlas has become an official partner of ESRI, the leader in Geographic Information Systems (GIS) and spatial analytics. ...

Petroteq acquires additional acreage in Utah's Uintah basin

Petroteq Energy Inc., a company focused on the development and implementation of proprietary technologies for the energy industry, has announced that it has acquired additional acreage in the resource rich Uintah basin. ...

Pipeline and Gas Journal, Geospatial Information and Technology Association to produce annual conference

Gulf Energy Information, and its market-leading pipeline media, Pipeline and Gas Journal, and the Geospatial Information and Technology Association (GITA) have announced an agreement between the two organizations to produce the Pipeline Technology Forum™, including the 27th GITA Oil and Gas Pipeline Conference. ...

Oil boom bottlenecks are costing U.S. investors $1 billion a day

More than $1 billion a day. That’s the price tag for a Permian basin pipeline crunch that’s increasingly affecting investors as much as it is West Texas oil drillers. ...

American oil fight to heat up as U.S. keeps more for itself

The U.S. is set to get a bit more possessive about its own oil, sparking a bidding war with eager buyers in the other side of the world. ...

Repsol shows faith in oil's rally with dividend, spending boost

Repsol SA, Spain’s largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50/bbl. ...

BHP is said to get shale bids valuing unit up to $9 billion

BHP Billiton Ltd. has received first-round bids for its U.S. shale portfolio from oil majors including BP Plc and Chevron Corp., valuing the unit at $7 billion to $9 billion, people familiar with the matter said. ...

Beheadings signal threat to Mozambique's $30 billion in investment

When a group of suspected Islamist militants beheaded 10 villagers in Mozambique’s gas-rich north late last month, it ratcheted up concerns that spreading attacks in the remote region could threaten a potential $30 billion in investment. ...

Echo Energy completes drilling of ELA-1 exploration well in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, announces the succesful completion of drilling of the ELA-1 exploration well at the Company's Laguna Los Capones Asset (surrounded by the Fracción C licence area), onshore Argentina. ...

Wentworth Resources granted extension of Rovuma asset in Mozambique

Wentworth, the independent, East Africa-focused oil and gas company, announced an update to the Company’s onshore Rovuma asset in Mozambique (Appraisal License). ...

ExxonMobil completes purchase of Carcara field interest, offshore Brazil

ExxonMobil said it has completed the purchase of half of Equinor’s interest in the BM-S-8 Block, offshore Brazil, which contains part of the 2-Bbbl, pre-salt Carcara oil field. ...

Aramco raises Asia oil pricing to four-year highs on demand

Saudi Arabia raised pricing for buyers in Asia to the highest since 2014 as demand builds in the country’s biggest market amid threats to rival suppliers. ...

Aramco raises Asia oil pricing to 4-year highs on demand

Saudi Arabia raised pricing for buyers in Asia to the highest since 2014 as demand builds in the country’s biggest market amid threats to rival suppliers. ...

Shale country dangles 100% pay raises as labor market runs dry

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian basin shale-oil boom. ...

Lukoil and Kazmunaygas conclude agreement on Caspian project

Astana, Kazakhstan -- President of Lukoil Vagit Alekperov and Chairman of the Management Board of the National Company KazMunayGas Sauat Mynbayev signed a principles agreement on Zhenis license area, in Astana today. ...

Canadian oil has record day after Enbridge scraps new rules

Canadian crude surged by the most ever after Enbridge Inc. said it won’t implement a new procedure to stop shippers from claiming more space than they can use on a key pipeline linking Alberta’s oil sands with U.S. refineries. ...

Oil slides as U.S. is said to ask OPEC for supply increase

(Bloomberg) --Crude declined after the U.S. government was said to have asked Saudi Arabia and other OPEC producers to raise oil supply. ...

HIPS and SIPS 11.0 simplifies bathymetric processing workflow

Teledyne CARIS is pleased to announce the release of HIPS and SIPS 11.0. This release introduces several improvements making it easier for users to start new projects and process data, as well as an enhanced user experience while interacting with survey data. ...

Europa Oil and Gas nearly doubles estimate of prospective resources on FEL 3/13, offshore Ireland

Europa Oil and Gas, the UK and Ireland focused exploration, development and production company, is pleased to report its updated prospect inventory resulting in a near doubling of its estimate of gross mean un-risked prospective resources on FEL 3/13 in the South Porcupine basin, Atlantic Ireland, to 2.9 Bboe. ...

U.S. said to ask OPEC for 1-MMbpd output hike

The U.S. government has asked Saudi Arabia and other OPEC producers to increase oil production by about 1 MMbpd. ...

Shell says Nigeria attacks recur even as oil output recovers

Nigeria’s oil wells may be flowing again, but the country’s largest operator says attacks continue to put a brake on output. ...

U.S. said to ask OPEC for one million barrel a day output hike

The U.S. government has asked Saudi Arabia and other OPEC producers to increase oil production by about 1 MMbpd. ...

Shell says Nigeria attacks persist even as oil output recovers

Nigeria’s oil wells may be flowing again, but the country’s largest operator says attacks continue to put a brake on output. ...

OPEC holds production steady as ministers discuss next move

OPEC is holding oil production steady even as it debates an increase. ...

Gas glut in Permian sparks dilemma over how much to burn

Texas is facing a burning question that’s pitting the state’s economy against its environment, and oil drillers against each other. ...

Halliburton releases new ultra-deep resistivity service

Halliburton has released the EarthStar ultra-deep resistivity service, a logging-while-drilling technology that helps operators map reservoir and fluid boundaries over 200 ft (61 m) from the wellbore, more than doubling the depth of investigation of current industry offerings. ...

Victoria Oil and Gas increases reserves estimates for Logbaba field in Cameroon

Victoria Oil and Gas Plc, the Cameroon based gas and condensate producer and distributor, has provided the following update, based on internal estimates, on the reserves position for Logbaba field in Cameroon. ...

Johan Sverdrup drilling platform installed

After initial preparations, the actual installation job took only three hours. This makes it likely the fastest ever installation of a large, fully completed topside. ...

As Trump riles Europe on trade, Putin offers more natural gas

As Donald Trump’s trade policy risks worsening economic conflict with the European Union, Russia’s Vladimir Putin is strengthening ties with the region. ...

New Zealand's suspension of offshore licensing unlikely to have immediate effect, says GlobalData

In April 2018, the New Zealand government announced that it would no longer grant new offshore oil and gas exploration permits. According to leading data and analytics company GlobalData, the suspension of new offshore licensing is unlikely to have an immediate impact on the oil or gas sector, but does signal the possibility of increased restrictions in the future. ...

Qatar Petroleum acquires 30% equity in two ExxonMobil affiliates in Argentina

Qatar Petroleum has entered an agreement with ExxonMobil to become a 30% equity holder in two ExxonMobil affiliates in Argentina, which hold different interests in hydrocarbon licenses for seven blocks in the world-class Vaca Muerta play in the onshore Neuquén basin. ...

Azinam secures deepwater drillship for Prospect S, offshore Namibia

Azinam Limited, the Seacrest Capital Group backed explorer focused on offshore Namibia, has announced that the Ocean Rig Poseidon sixth generation deepwater drillship has been contracted by the license partnership to drill one firm and one optional well, with the first well targeting Prospect S, located in Petroleum Exploration Licence (PEL) 71, offshore Namibia. ...

Mayan Energy provides development update for Stockdale field gas discovery in Texas

Mayan Energy has announced its plans for the development of the gas discovery at the Morris #1 well at Stockdale field, Wilson County, Texas. The Company has a 60% working interest (WI) and 45% net revenue interest (NRI) in Stockdale field. ...

Equinor announces sailaway of Johan Sverdrup drilling topside

The Johan Sverdrup drilling topside is now sailing from the Aibel yard in Haugesund, on its way to the North Sea. The topside is the first, and biggest, structure to be completed and 85% fully tested onshore before being installed offshore in a single lift. ...

Gazprom Neft, Skolkovo to establish digital lab for modeling of multi-phase systems

The Science and Technology Center of Gazprom Neft and the Skolkovo Institute of Science and Technology signed a collaboration agreement at the Skolkovo Startup Village — the largest startup-conference in Russia and CIS for technology entrepreneurs. The parties have agreed on the further development of joint research and innovation/entrepreneurship activity. ...

U.S. oil poised for weekly loss as record output weighs on price

Oil in New York headed for a second weekly loss, with the American marker near its weakest level in more than three years against global benchmark Brent crude as U.S. output surged. ...

Hurricane Energy commences well completion operations at Lancaster field

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 development of Lancaster field. ...

Hedge funds battle physical oil traders over Permian logjam

The widest gap in three years between U.S. and global oil prices is shaping up as a battle between trading giants who see an opportunity to export millions of barrels at great profit and financial players betting pipeline bottlenecks will make Texas crude even cheaper. ...

Shell markets gas with offset package as neutral for climate

Shell is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel. ...

Rosneft testing oil production increase ahead of OPEC talks

Russia’s largest oil company is testing its capacity to bring back production it cut under a deal between Moscow and OPEC, telling investors it boosted output this week by about 70,000 bpd. ...