Colombia plans Mexico-style oil hedge after recent volatility

Colombia is planning to hedge its oil exports to protect the government from the violent swings in revenue it suffered in recent years. ...

With Trump’s Iran hammer about to fall, who may seek a waiver?

When it comes to buying Iranian oil, Donald Trump has laid down the law for the world: Don’t do it. ...

Repsol reduces debt as higher oil prices drive profit, cash

Repsol SA said rising crude prices drove up third-quarter profit, helping the Spanish oil and gas producer curb its debt burden. ...

HPHT 2018: BSEE approval process seen hampering HPHT tool development

World Oil’s HPHT Drilling, Completion and Production Conference was kicked off on Tuesday with a keynote address by Randall Luthi, president, National Ocean Industries Association. ...

BP completes $10.5-billion BHP acquisition, establishes BPX Energy

BP has completed the $10.5-billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio and help drive long-term growth. ...

Magseis acquires Fairfield Geotechnologies' seismic technologies business

Fairfield Geotechnologies today announced that it has entered into a definitive agreement with Magseis ASA (Magseis), whereby Magseis will acquire the Seismic Technologies business from Fairfield comprising data acquisition, nodal and system sale and rental activities, including all shares in Fairfield's wholly owned UK subsidiary WGP Group. The name of the new business will be Magseis Fairfield. ...

Wärtsilä divests its pumps business

The technology group Wärtsilä has divested its pumps business to Solix Group, a Scandinavian investment company with offices in Copenhagen, Denmark and Malmö, Sweden. ...

ConocoPhillips announces executive leadership changes

ConocoPhillips has announced the retirement of Al Hirshberg as executive V.P., Production, Drilling and Projects after more than 35 years of industry service, including eight years with ConocoPhillips. ...

Eco Atlantic gets approval for transfer of 25% interest in Guyana's Orinduik Block

Eco (Atlantic) Oil and Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in Guyana and Namibia, announces today that, further to the Company's announcement of Sept. 13, 2018, the Honourable David Granger, president of the Cooperative Republic of Guyana and the Minister Responsible for Petroleum, has approved the transfer of the 25% working interest (WI) in the Orinduik Block, offshore Guyana. ...

Canadian producers turn to trucks as supply glut grows

The highways of Saskatchewan show just how desperate Canadian oil producers are to get their crude to market. ...

WGLC 2018: Building, maintaining a brand and recognizing opportunities

Today in Houston, Day Two of the Women’s Global Leadership Conference in Energy began with a panel discussion about building your own personal brand. ...

WGLC 2018: Living your best life in the oil, gas industry

Day One of the Women’s Global Leadership Conference (WGLC) was held at the Royal Sonesta Hotel, in Houston, on Oct. 29, 2018. ...

Women's Global Leadership Conference 2018 - Day One

Day One of the Women’s Global Leadership Conference (WGLC) was held at the Royal Sonesta Hotel, in Houston, on Oct. 29, 2018. ...

Women's Global Leadership Conference 2018 - Living your best life in the oil and gas industry - Day one

Day One of the Women’s Global Leadership Conference (WGLC) was held at the Royal Sonesta Hotel, in Houston, on Oct. 29, 2018. ...

Upstream uncertainty tempers otherwise upbeat outlook, Deloitte survey says

Oil, gas and chemicals executives see higher oil and natural gas prices on the horizon, but new findings from Deloitte’s “2018 Oil, Gas and Chemicals Executive” survey reveals that the industry has varying expectations for what the anticipated price recovery will bring. ...

WFW advises Aban Singapore on North Sea blocks acquisitions

Watson Farley and Williams (WFW) advised Aban Singapore Pte. Ltd, a wholly owned subsidiary of India’s Aban Offshore Ltd, on its acquisition, via its wholly-owned subsidiary Caldera Petroleum, of a 100% interest in two oil and gas blocks in the UK North Sea for a non-cash consideration of $75 million. ...

Royston completes first phase of new Stena Drilling engine service work

Power specialist Royston has completed work on the first phase of a new diesel engine maintenance and service program for vessels owned by international drilling contractors, Stena Drilling. ...

BP prepared to unleash cash bet on oil staying high

BP Plc is gearing up to leave European competitors in the dust, at least when it comes to spending the industry’s enormous cash pile. ...

Aqualis Offshore reaches rig move milestone

Aqualis Offshore celebrates mobile offshore unit rig move number 2,000, just over five years after the company was launched. ...

Replacing Iran's lost oil supply a boon for supertanker fleet

Higher OPEC oil production and longer voyages are propelling shipowners back to good times. ...

Turkey explores contested Mediterranean waters

Turkey’s first deep-sea drilling ship, flanked by Turkish war vessels, set sail Tuesday looking for natural gas and oil in contested waters of the Mediterranean, a launch liable to exacerbate longstanding tensions with Greece. ...

Philippines hopeful for South China Sea energy deal

Philippine Energy Secretary Alfonso Cusi is optimistic that a deal to jointly explore disputed areas of the South China Sea for oil and gas will finally move forward when President Xi Jinping visits next month. ...

Chesapeake adds to southeast Texas holdings with $3.9-billion buy

Chesapeake Energy’s acquisition of WildHorse Resource Development for about $3.977 billion will add operations in the Eagle Ford shale and Austin Chalk formations of southeast Texas. ...

Claxton to support MOL Norge’s first well program on the Norwegian Continental Shelf

Claxton, a leading supplier of engineering and services for shallow-water, jackup-depth markets in subsea services group Acteon, has been contracted to support MOL Norge AS on its first well program on the Norwegian Continental Shelf. ...

Denbury to acquire Penn Virginia in $1.7 billion transaction

Denbury Resources Inc. and Penn Virginia Corporation has announced that they have entered into a definitive merger agreement pursuant to which Denbury will acquire Penn Virginia in a transaction valued at approximately $1.7 billion, including the assumption of debt. ...

Digital transformation redefines safety, asset integrity

Digital transformation will redefine safety and asset integrity, and will revolutionize new ways of managing preventive maintenance, in the entire industrial sector. ...

Halliburton releases first fluid efficient, dissolvable frac plug

Halliburton Company has released the Illusion Spire, the first fluid efficient dissolvable frac plug. ...

Brazil gets oil windfall as output poised to soar

Brazil’s President-elect Jair Bolsonaro is staring at an oil windfall. ...

Eni strengthens its presence in Algeria's North Berkine basin

The Chairman and Director General of Algeria’s state oil company Sonatrach, Abdelmoumem Ould Kaddour, and the CEO of Eni, Claudio Descalzi, signed an agreement today that will see Eni take a 49% stake in three oil concessions in the onshore North Berkine basin, located in the Algerian desert. ...

Eni, Total partner with Sonatrach for offshore exploration in Algeria

The Chairman and Director General of Algeria’s state oil company Sonatrach, Abdelmoumem Ould Kaddour, the CEO of Eni, Claudio Descalzi, and the CEO of Total, Patrick Pouyanné, signed two agreements during the Algeria Future Energy Summit in Algiers today, which include an exclusive partnership for offshore exploration in Algeria. ...

McDermott, Saipem to partner for planned Rio Grande LNG project

International, Inc. has announced that it plans to partner with the Italian oil and gas industry contractor Saipem to bid for NextDecade's planned Rio Grande LNG project in Brownsville, Texas. ...

Senex makes FID on natural gas projects in the Surat basin

Senex Energy announced today that it has made Final Investment Decisions (FID) to develop two natural gas projects in the Surat basin. ...

Equinor reports Skruis discovery in the Johan Castberg license

Equinor and partners ENI and Petoro have completed the Skruis exploration well in the Johan Castberg license. ...

Wellesley reports successful appraisal of Grosbeak discovery

Wellesley Petroleum AS, the exploration company focused on the Norwegian Continental Shelf (NCS) announces the successful appraisal of the Grosbeak Discovery in the Northern North Sea by wells 35/11-21S and 35/11-21A. ...

Oil trades below $68 as investors assess mixed supply outlook

Oil traded below $68/bbl as traders assessed mixed supply signals from producers. ...

Nigeria heads out to sea in search of safer future for oil development

When it comes to the future of its oil industry, Nigeria is looking miles out to sea. ...

Breakaway Somaliland offers Ethiopia a surrogate energy pipeline

A self-declared republic in Somalia asked Ethiopia to reroute its nascent oil and gas exports via a proposed new pipeline, challenging Djibouti’s long-held plans for a conduit. ...

Oil heads for third weekly slump as market selloff accelerates

Oil tumbled toward a third weekly drop as crumbling equity markets across the globe stoked concern about a slowdown in energy demand growth. ...

YPF chiefs raise output outlook as Vaca Muerta begins to deliver

YPF SA will produce more oil and gas than originally planned over the next five years as shale output from the Vaca Muerta formation picks up, according to the Argentine producer’s top two executives. ...

FAR Limited spuds Samo-1 exploration well, offshore The Gambia

FAR Limited advises that drilling has commenced on the Samo-1 exploration well in block A2, offshore The Gambia. The Stena Drillmax arrived on site on Sunday, Oct. 21, and after standard pre-drill operations, the well was successfully spudded. ...

Development plan submitted for SNE field, offshore Senegal

FAR Limited announces that the Development and Exploitation Plan for the SNE oil field offshore Senegal has been submitted to the Government of Senegal by the Joint Venture. ...

Total says oil output in Congo exceeds expectations

Oil production at Total SA’s subsidiary in the Republic of Congo has exceeded expectations, a company official said. ...

President Energy spuds development well at Puesto Flores field, in Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, confirms that the PFE 1001 development well has now spudded at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina ...

Majors rolling in cash, so why don't CEOs want to spend?

The oil industry is rolling in cash again, but it’s not time for a party. Instead company bosses are vying to show the most monk-like devotion to austerity. ...

Major’s rolling in cash, so why don't CEOs want to spend?

The oil industry is rolling in cash again, but it’s not time for a party. Instead company bosses are vying to show the most monk-like devotion to austerity. ...

Husky CEO downplays chance of rival for his $2.3-billion MEG bid

Husky Energy Inc. CEO Rob Peabody is downplaying the possibility that a rival suitor will step in to challenge its C$3-billion ($2.3-billion) bid for MEG Energy Corp. ...

OPEC should boost crude production at next meeting, the IEA says

OPEC must decide to boost oil output at its next meeting to “comfort” a tightening market, said the head of the International Energy Agency. ...

Libya's oil supremo sees output reaching Qaddafi-era levels

Libya, one of the most volatile and politically fragmented oil producers, expects to pump as much crude by the end of next year as it did before the 2011 revolt against former strongman Moammar Al Qaddafi. ...

Schlumberger's Hexacom launches The Oilfield Marketplace

Hexacom, a division of Schlumberger Technology Corporation, today launched The Oilfield Marketplace, an e-commerce platform that connects oil and gas industry professionals with the products, services and information they need to optimize their assets. ...

Conoco collecting $2 billion by the barrel from Venezuelans

ConocoPhillips’ decade-old legal war with Venezuela began paying off this week as the embattled Latin American country started making good on a $2-billion arbitration settlement one barrel of crude at a time. ...

IEA: Major oil, gas exporters face unprecedented challenges in years ahead

Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. ...

Iraq's new oil minister pledges to pump more oil

Iraq will increase oil output and work with other OPEC nations to assure “fair” prices for buyers and producers, according to the nation’s new Oil Minister Thamir Ghadhban. ...

Majors’ pursue China with $24 billion spending spree

A Chinese archipelago that served as a pirate’s den and was governed by President Xi Jinping in the new millennium is luring the world’s energy giants. ...

Endeavor said to weigh sale after getting takeover interest

Endeavor Energy Resources LP, the largest privately held oil producer in the Permian basin, is weighing a sale after receiving takeover interest from major energy explorers, according to people familiar with the matter. ...

Trump approves plan for oil production facility on manmade Arctic island

The Trump administration has authorized Hilcorp Energy Co.’s plan to build an artificial gravel island in the Beaufort Sea north of Alaska and use it to extract crude -- marking the first approval of an oil production facility in federal Arctic waters. ...

Shell adds new, deepwater production in Brazil

New, deepwater production is underway today at Lula Extreme South in the Brazilian Santos basin. Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing. ...

Oil slump highlights anxiety over weak emerging markets in 2019

Just weeks after oil traders were touting $100/bbl, those predictions now seem a distant memory. ...

Blackstone Energy Partners to acquire Ulterra Drilling Technologies

Blackstone Energy Partners announced today that it has entered into binding agreements to acquire a controlling, majority interest in Ulterra Drilling Technologies from affiliates of American Securities, LLC. ...

PDandMS secures further contract renewal with Chrysaor in North Sea

PDandMS Group has secured a contract renewal for up to two years with one of the UK’s leading independent EandP companies, Chrysaor, following successful delivery on the assets since they were purchased in 2017. ...

Rovco expands ROV fleet with new Falcon DR ROV

UK subsea services company, Rovco, has expanded its ROV and hydrographic survey capabilities with the addition of a Saab Seaeye Falcon DR ROV to its fleet. ...

Exxon said to return to favored pick in Ghana partner search

Exxon Mobil resumed talks with Ghana Oil as the major nears a deadline to find a local exploration partner at an offshore field. ...

Oil executives guilty of scheme to replace lost salary, bonuses

Executives at collapsed oil and gas producer Afren were found guilty in an elaborate scheme to boost their annual compensation after shareholders forced them to slash their bonuses. ...

Loaded with cash, majors struggle with investment options

The majors’ big payday has finally arrived. The question now is how to spend the extra cash. ...

Total CEO steps into the eye of Saudi storm as other bosses balk

Total SA boss Patrick Pouyanne proved once again that he’ll go where other business leaders fear to tread. ...

Maersk Resolute lands one-well extension

Petrogas EandP Netherlands B.V. has exercised an option with Maersk Drilling to extend the current contract of jackup rig Maersk Resolute. ...

Equinor contracts Rowan Stavanger for drilling at Gudrun field

Rowan Norway Limited has been awarded a contract for drilling two wells at Gudrun field by use of the Rowan Stavanger jackup rig. ...

BP gets approval for development of 20-MMboe Alligin field

BP confirmed it has received approval from the Oil and Gas Authority (OGA) to proceed with the Alligin development west of Shetland, which will target 20 MMboe, and is expected to produce 12,000 boed (gross) at peak. ...

Two small towns in Germany seek to realize Trump's LNG dream

Downstream from Hamburg, two small ports on the Elbe River are competing to build Germany’s first liquefied natural gas import terminal and help shake up Europe’s biggest gas market. ...

OPEC's in "produce as much as you can mode," Al-Falih says

Saudi Arabia gave the strongest indication yet it’s trying to stop oil prices from rising, saying that OPEC and allies are in a “produce as much you can mode” to meet demand and replace any looming shortages. ...

Total's Ichthys LNG project begins gas exports

Total announces that the first cargo of liquefied natural gas (LNG) from Ichthys LNG has left Darwin, in the Northern Territory of Australia, following the production start-up at the end of July. ...

Drydocks World completes FPSO upgrade, turret mooring system construction projects

Drydocks World has recently successfully completed two projects for Bluewater Energy Services B.V. and end client Hurricane Energy plc. ...

Shell's up next in $200 billion Australia LNG bonanza

Australia’s $200 billion LNG boom has a final debut in the works: Shell’s Prelude, floating 124 mi off its northwest coast. ...

The world's fourth-biggest oil producer can't keep the lights on

Iraq is fast becoming a global oil powerhouse, gaining stature in OPEC after it surpassed Canada this year as the world’s fourth-biggest producer. But the war-ravaged country has little to show for its feat. ...

Halliburton's outlook overshadowed by weak end to 2018

Halliburton Co.’s optimistic outlook for the U.S. oil and gas industry in 2019 was overshadowed by a worse-than-expected projection for the final three months of this year as activity slows throughout North America. ...

Tenaris employees, elected officials celebrate restart of Conroe plant

Tenaris employees, executives and elected officials gathered at Tenaris’s plant in Conroe, Texas, Friday, Oct.19, to celebrate its reactivation following a three-year suspension of operations. ...

BiSN deploys largest-ever bismuth plug

BiSN, the global leader in metal-to-metal downhole sealing solutions, has achieved a world first in conjunction with AkerBP and Altus Intervention, through the successful deployment of the largest-ever bismuth plug. ...

ROVOP acquires M2 Subsea's entire ROV fleet

ROVOP, the independent provider of underwater remotely operated vehicles (ROVs), has today announced the purchase of the entire fleet of 28 ROV systems from M2 Subsea. ...

Total, CNOOC strengthen long-term cooperation in LNG

Total and CNOOC have signed an amendment to their existing sale and purchase agreement (SPA) for liquefied natural gas (LNG) supply to further strengthen their cooperation in the LNG business. ...

Faroe Petroleum commences drilling of Rungne exploration well

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the commencement of the Faroe-operated Rungne exploration well 30/6-30, in the Norwegian North Sea. ...

Blue Water Energy partners with Apex International in pursuit of MENA assets

Apex International Energy, an independent oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African (MENA) countries, today announced that affiliates of Blue Water Energy LLP have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corp. (IFC) and company management. ...

IEA publishes annual Global Gas Security Review to assess evolution of LNG markets

The evolution of the global natural gas market, which has been driven by the growth in liquefied natural gas (LNG) demand, continues to change the relationship between buyers and sellers, and raises new challenges for the global security of energy supplies. ...

President Energy provides update on drilling at Puesto Flores field, Argentina

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided an update on its current drilling program at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina. ...

Saudi Arabia has no plans to repeat 1973 oil crisis

Saudi Arabia has no intention of using its oil wealth as a political tool in the controversy over the killing of journalist Jamal Khashoggi. ...

BP's tech gurus borrow ideas to drive billions in savings

In Oman, temperatures are so high, roads melt. The searing heat triggers sensors that roughnecks extracting natural gas from a BP well are wearing across their chests. ...

Libya oil boss sees output jump as BP, Eni may re-start soon

BP and Eni could re-start work on a project in Libya in the first quarter next year, setting the stage for the OPEC member to boost production by up to 100,000 bopd. ...

Railroad CEO sees boom-time oil loads as pipeline pinch roils Canada

Boom times are back for at least one company in Canada’s oil heartland. ...

Crude set for weekly loss as supplies allay Saudi tensions

Oil headed for a weekly loss as plentiful supplies helped offset worries that tensions between Saudi Arabia and the U.S. over the disappearance of a journalist could lead to the use of crude as a political weapon. ...

EMGS mobilizes vessel for potential acquisition contract

Electromagnetic Geoservices (EMGS) is engaged in the final stages of a contractual exchange for a data acquisition survey in South America. ...

Lukoil signs MOU with Uzbekneftegaz

The President of Lukoil, Vagit Alekperov and Uzbekneftegaz’s acting chairman of the board, Bahrom Ashrafhanov signed a memorandum of understanding to develop cooperation and share experience in the implementation of geological exploration in the Republic of Uzbekistan's territory. ...

Ex-Schlumberger chairman to acquire large pipe servicer

Sentinel Energy Services plans to acquire Strike LLC and take the dominant U.S. pipeline services company public. ...

Equinor sells its share of Tommeliten field

Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten field on the Norwegian Continental Shelf for $220 million. ...

Earthstone buys Midland basin assets for $950 MM

Earthstone Energy has entered into an agreement with Sabalo Holdings to buy producing and non-producing oil and gas assets in the northern Midland basin. ...

JupiterMLP to build 1 MMbpd Permian-to-Gulf Coast oil pipeline

JupiterMLP has secured funding from Charon System Advisors to build a 1 MMbpd oil pipeline from the Permian basin to the Port of Brownsville, Texas. ...

Ex-Schlumberger chairman to acquire large shale pipe servicer

Sentinel Energy Services plans to acquire Strike LLC and take the dominant U.S. pipeline services company public. ...

Asia oil buyers see chance for U.S. waivers on Iran sanctions

Asian buyers of Iranian oil are gaining confidence they will win U.S. consent for some imports to continue even after American sanctions snap back next month. ...

White House backed drillers over EPA on plugging methane leaks

White House officials pushed the EPA to maximize savings for the oil industry despite the agency’s concern that weakening regulations would allow more methane to escape into the atmosphere. ...

Russia is said to offer Exxon new projects as sanctions loom

Russia has begun discussions with Exxon Mobil on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country. ...

Customized treatment program increases safety and profitability

Locus Bio-Energy Solutions has introduced AssurEOR line, for use in upstream applications. The new products have shown effective at improving production and safety. ...

Exxon makes major bet on Brazil as Petrobras eases its grip

Exxon Mobil has gone from being a tiny bit player in Brazil to the second-largest holder of oil exploration acreage, trailing only state-controlled Petroleo Brasileiro. ...

Exxon exploration chief eyes Africa for next elephant oil find

Exxon Mobil is targeting western and southern Africa for the world’s next big oil bonanza as the explorer scours the globe to repeat its success in Guyana. ...

Oil trades near one-month low after U.S. crude stockpiles surge

Oil traded near the lowest level in a month after a bigger-than-expected gain in American stockpiles overshadowed tensions between the U.S. and Saudi Arabia over a missing critic of the kingdom. ...

BP delivers Thunder Horse expansion under-budget and ahead of schedule

BP announced that it has started up the Thunder Horse Northwest Expansion project in the deepwater Gulf of Mexico, four months ahead of schedule and 15% under budget. ...

Crude trades near one-month low after U.S. crude stockpiles surge

Oil traded near the lowest level in a month after a bigger-than-expected gain in American stockpiles overshadowed tensions between the U.S. and Saudi Arabia over a missing critic of the kingdom. ...

Rwanda looking for private investment for oil search

Rwanda is considering partnering with oil and gas companies for the next stage of exploring Lake Kivu for more hydrocarbons, a government official said. ...

U.S. shale oil production surges

U.S. government data showed shale oil production is forecast to reach a fresh record in November. ...

Service companies chase international boom as U.S. shale drilling moderates

The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard. ...

Service companies chase international boom as U.S. shale moderates

The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard. ...

Colorado’s Prop 112 would cut surface drill sites by 54%

BP’s new U.S. onshore headquarters in Denver serves as a testament to Colorado’s regal mountains, its expansive forests, its nature-loving culture. ...

U.S. persuades Iraq to quash Siemens power deal in favor of GE

The Trump administration intervened to quash a $15 billion deal for Siemens Corp. to develop power stations in Iraq, instead persuading Baghdad to sign an agreement with General Electric Co., two administration officials said. ...

Permian drillers are said to sell new lighter crude oil grade

There’s a new kind of oil coming out of West Texas. ...

Oil falls after U.S. stockpiles swell for fourth straight week

Oil posted the biggest decline in two months after U.S. government data showed expanding crude stockpiles. ...

MEG Energy unanimously rejects Husky Energy's $2.34 billion acquisition offer

MEG Energy Corp. rejected a $2.34 billion hostile takeover offer from Husky Energy Inc. and announced a plan to seek other buyers, kicking off a bidding war for its prized Canadian oil-sands assets. ...

MEG Energy unanimously rejects Husky Energy's $2.34 billion acquisition offer

MEG Energy Corp. rejected a $2.34 billion hostile takeover offer from Husky Energy Inc. and announced a plan to seek other buyers, kicking off a bidding war for its prized Canadian oil-sands assets. ...

MEG starts bidding war after rejecting $2.34 billion Husky offer

MEG Energy Corp. rejected a $2.34 billion hostile takeover offer from Husky Energy Inc. and announced a plan to seek other buyers, kicking off a bidding war for its prized Canadian oil-sands assets. ...

Sulzer signs deal with Nidec Industrial Solutions

As part of a growing portfolio of services, Sulzer has signed an agreement with Nidec Industrial Solutions that will introduce customers to the high performance, energy efficient drives with class-leading maintenance services. ...

Clariant upgrades facility in Midland, Texas

Clariant has announced the inauguration of a new state-of-the-art laboratory at its facility in Midland, Texas. ...

Wärtsilä Hybrid Centre will boost sustainable shipping

The technology group Wärtsilä has inaugurated its new Hybrid Centre, the first of its kind in the world. ...

ARDCO introduces AMT Dump Beds for multi-purpose truck

ARDCO announces the launch of its new AMT Dump Beds for the articulating multi-purpose truck (AMT), offering payloads of 10 to 20 tons, volume upgrades for lighter materials, and tire options to suit extreme conditions where other articulated dump trucks simply can’t perform. ...

Shell sells upstream interests in Denmark for $1.9 billion

Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion. ...

Egypt seen planning new oil, gas contracts to attract investors

Egypt is working on a new model for future oil and gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy. ...

Argentina plans to close LNG importing facility

Argentina plans to close a facility for importing LNG, after booming production in Vaca Muerta turned the country into a seasonal exporter. ...

Iraq wants to know how buyers use its oil

Iraq would like to know how and where its oil will be used, as demand rises for Middle Eastern cargoes to replace shipments from Iran. ...

Houston Ducks Unlimited to host inaugural legacy gala

The Houston Ducks Unlimited (DU) chapter will host its inaugural Legacy Gala, Wednesday, Oct. 24, at the River Oaks Country Club in Houston to honor Bruce Culpepper and Shell Oil Company. ...

UTEC extends surveying capabilities with new autonomous underwater vehicle launch and recovery system

UTEC, a global surveying company in subsea services group Acteon, successfully commissioned its new launch and recovery system (LARS) for the fleet of seven autonomous underwater vehicles (AUV) it uses for seabed surveys in the oil and renewables industries. ...

Titan Torque invests in the future with state-of-the-art EnerQuip torque machine

Titan Torque has doubled its operational capacity – and signaled its long-term confidence in the offshore oil and gas industry – with a major investment in a new torque system from EnerQuip. ...

Schneider Electric delivers profitable safety

Schneider Electric has demonstrated how it enables customers to extend real-time control from only operational efficiency to include operational safety, security and profitability. ...

TechnipFMC selected for Commonwealth LNG project

Commonwealth LNG signed a contract with TechnipFMC, for engineering services and development of the proposed LNG export terminal in Cameron Parish, Louisiana. ...

Nine Energy buys Magnum Oil Tools for $493 MM

Nine Energy has acquired Magnum Oil Tools International, a downhole technology provider serving the global oil and gas industry for over a decade. ...

Gibson Energy jumps as Canadian crude woes seen boosting tank provider

Gibson Energy surged the most in more than a year after announcing a plan to build 1 MMbbl of new oil-tank space in Western Canada. ...

Oil Drops as Swelling U.S. Crude Inventories Signal Ample Supply

Oil declined on concerns that U.S. crude stockpiles are expanding at a rate not seen since early 2017 as American drillers lift output to unprecedented levels. ...

Modern facies analysis brings greater accuracy to reservoir models

Deriving facies models from the outcomes of seismic inversions, and their derivatives, has become standard practice in reservoir characterization workflows. ...

FAA-approves Avitas UAS for use beyond visual line-of-sight

Avitas Systems received FAA approval to fly an unmanned aerial system beyond visual line of sight in Loving County, Texas. ...

FAA-approves Avitas UAS system for use beyond visual line-of-sight

Avitas Systems received FAA approval to fly an unmanned aerial system beyond visual line of sight in Loving County, Texas. ...

Crude oil prices slip before supply data

Oil retreated before weekly U.S. inventory data as the disappearance of a critic of the Saudi Arabian regime threatened to spark a diplomatic crisis. ...

Saudi Arabia breaks 45-year taboo with veiled oil weapon threat

For 45 years, it’s been considered out of bounds for Saudi Arabia. But suddenly, Riyadh made what many read as a veiled threat to use the kingdom’s oil wealth as a political weapon. ...

Ichthys first LNG cargo is said possible as soon as this week

The Inpex Corp.-operated Ichthys LNG export project in northern Australia may load its first cargo as soon as this week. ...

Occidental surprises investors again with Qatar lease loss

Occidental Petroleum dropped the most in over a year after deciding to hand over an oil field in Qatar to the government, an announcement that appeared to catch some investors off-guard. ...

Production starts at Equinor's Oseberg Vestflanken 2

The Oseberg Vestflanken 2 field in the North Sea is now on stream. Remote-operated from the Oseberg field centre, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf. ...

Saturn Oil and Gas Inc. increases land position and provides operational update

Saturn Oil and Gas Inc. has successfully bid on certain targeted parcels at the recent Crown land sale, earlier this month. ...

Shell, Equinor commit to tanzania LNG as they await host accord

Royal Dutch Shell Plc and Equinor ASA said they’re committed to a project that will allow the export of natural gas from Tanzania. ...

Saipem plans renewables push as oil clients keep lid on spending

Saipem SpA is looking beyond black gold, to green. ...

Oil sheds gains after Trump turns down heat in Saudi dispute

Oil surrendered most of its early gains after tensions appeared to ease between the U.S. and Saudi Arabia amid growing international outrage over the disappearance of one of the kingdom’s most prominent critics. ...

Fragile pipelines pose an increasing risk in gas-hungry U.S.

The kind of dramatic scenes that played out in suburban Massachusetts last month following a series of explosions and fires may serve as a warning of what lies ahead for the U.S., where an increasing reliance on natural gas is running up against aging infrastructure. ...

Canada's energy deal logjam seen buckling amid dismal oil prices

The recent collapse in Canadian oil prices may have a silver lining. ...

McDermott awarded EPC contract for CBandI storage tanks in South Texas

McDermott International, Inc. has announced a sizeable* contract award for CBandI Storage Tanks for the engineering, procurement, fabrication and construction of three external floating-roof tanks in Taft, Texas. ...

Aker BP acquires King Lear discovery

Aker BP has entered into an agreement with Equinor Energy to acquire its 77.8% interest in the King Lear gas/condensate discovery in the Norwegian North Sea for a cash consideration of $250 million. ...

Oil rises as Saudi Arabia vows to hit back against any sanctions

Oil rose as traders assessed a threat by Saudi Arabia, the world’s biggest crude exporter, to retaliate against any punishment over the disappearance of a government critic. ...

SUEZ opens one of the world's largest RandD labs in Texas

SUEZ has opened one of the world’s largest, most advanced analytical laboratories to serve its growing client base, including the booming refining and petrochemical market, as well as oil and gas operations along the Gulf Coast and beyond. ...

Colorado House Majority Leader says Proposition 112 unlikely to pass

A ballot measure that could curb oil and gas development in Colorado is unlikely to pass in November, according to Colorado House Majority Leader KC Becker, a Democrat representing liberal Boulder county. Still, the measure’s success thus far will force the statehouse to take action on the issue in 2019. ...

Oil majors offload Gulf of Mexico fields to hunt bigger finds

Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust. ...

IEA cuts oil demand forecasts, but sees prices staying high

The International Energy Agency cut forecasts for oil demand this year and next because of growing threats to global economic growth, yet warned that dwindling spare oil supplies will keep prices high. ...

C-Kore Systems launches new in-line testing tools

C-Kore Systems are proud to announce a new ‘in-line’ version of their C-Kore subsea testing tools. ...

100 MMbbl: The world hits daily oil, liquids record

The world is pumping out more oil and other petroleum liquids than ever before. ...

Yemen's oil comeback has far to go as three-year war rages on

OMV AG’s return to an oil field in Yemen marked a small step toward a comeback in production for the Middle East’s poorest country, where a proxy war between Saudi Arabia and Iran has choked energy output and shuttered a key export terminal and pipeline. ...

TGS, Schlumberger announce new multi-client nodal seismic project

TGS and Schlumberger today announced a new multi-client nodal seismic project in the U.S. Gulf of Mexico. ...

World Oil Award 2018 Winners Honored at Houston Gala

More than 350 of the upstream oil and gas industry’s brightest minds gathered Thursday to find out, and celebrate, the winners of the 2018 World Oil Awards. The awards ceremony, now in its 17th year, seeks to recognize and honor the upstream industry’s top innovations and innovators. ...

Oil set for worst two-day drop since July as stock turmoil spreads

Oil headed for the biggest two-day drop since July as fears over a worsening trade war rattled global markets. ...

Petrobras, Murphy EandP form JV with Gulf of Mexico assets

Petrobras informs that today its subsidiary, Petrobras America Inc., has entered into a definitive agreement with Murphy Exploration and Production Company – USA, a wholly owned subsidiary of Murphy Oil Corporation, to form a joint venture company comprised of producing oil and gas assets in the Gulf of Mexico. ...

BP says goodbye to low prices as it plans projects for oil over $60

BP Plc boss Bob Dudley, among the first to say oil will stay lower for longer, is becoming more confident. ...

Chariot Oil and Gas announces Prospect S well result, offshore Namibia

Chariot Oil and Gas Limited, the Atlantic margins focused oil and gas exploration company, has announced the result of the well on the Central Blocks license, offshore Namibia. ...

Wildcatters still a gamble for investors despite oil's rise (1)

Higher oil prices may seem like the pot of black gold at the end of the rainbow for wildcat explorers in frontier plays. But even with talk that prices of $100/bbl could again be in sight, investors are wary before taking the gamble. ...

Wildcatters still a gamble for investors despite oil's rise

Higher oil prices may seem like the pot of black gold at the end of the rainbow for wildcat explorers in frontier plays. But even with talk that prices of $100/bbl could again be in sight, investors are wary before taking the gamble. ...

ICON completes world's deepest CAN-ductor deployment and recovery

The world's deepest installation of a CAN-ductor (Conductor Anchor Node suction pile with integrated conductor) well foundation has been completed after being successfully recovered from Woodside Energy's Ferrand-1 deepwater exploration well. ...

Donald Trump is rerouting the world's oil tankers

U.S. President Donald Trump is redirecting global oil flows. ...

OPEC moves to calm oil-supply fears as India slams high prices

OPEC again sought to reassure markets after one of its biggest customers complained about the pain of high prices. ...

China swoops in on Canadian oil that's $50/bbl below U.S. crude

Chinese oil buyers are making a beeline for a bargain across the Pacific. ...

Ikon Science to release latest in reservoir monitoring

Ikon Science announce that RokDoc 6.6 is to be released during the SEG 2018, including the launch of a new RokDoc 4D Reservoir Monitoring product. This release demonstrates Ikon’s continuing focus on enabling EandP companies to improve efficiencies, reduce costs and maximize ROI. ...

Texas Alliance, IPAA announce two new joint projects

The Texas Alliance of Energy Producers (Alliance) and the Independent Petroleum Association of America (IPAA) have announced their joint effort on two new projects for the benefit of the oil and gas industry. The first project is the 2018 White Paper on water use in the energy industry. ...

Top oil traders say Iran sanctions hit harder than expected

Sanctions on Iranian oil exports are hitting much harder than most people predicted as the administration of U.S. President Donald Trump takes a tough line on enforcement, said executives from the world’s largest energy traders. ...

Trump still doesn't like the price of oil, even as it falls

President Donald J. Trump is again saying oil prices are too high, even after West Texas Intermediate crude dropped from a four-year high last week. ...

Chevron exits Norway as wider retreat looms from North Sea

Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere. ...

Dow Microbial Control introduces new winterized water treatment microbiocides

Providing the market with a cold-weather solution, Dow Microbial Control, a business unit of DowDuPont Specialty Products, has launched two new products within its AQUCAR Water Treatment Microbiocides portfolio. ...

Dow Microbial Control introduces new winterized water treatment microbiocides for hydraulic fracturing

Providing the market with a cold-weather solution, Dow Microbial Control, a business unit of DowDuPont Specialty Products, has launched two new products within its AQUCAR Water Treatment Microbiocides portfolio. ...

PDC Logic becomes Taurex Drill Bits in major company rebrand

PDC Logic LLC has gone through a major rebrand, including a new name. The company has announced that PDC Logic is now Taurex Drill Bits, LLC. The change comes on the heels of ownership and management changes that have led to expanded growth initiatives for the company. ...

Growth opportunities ahead as demand for oil to hit record high, UAE Minister says

There are opportunities for expansion, investment and growth in the oil and gas industry, as demand for energy continues to rise, particularly from the high-growth economies of Asia, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC). ...

BHGE, AFRC partner to push limits of advanced manufacturing for oil and gas

The University of Strathclyde’s Advanced Forming Research Centre (AFRC) and Baker Hughes, a GE company (BHGE), have joined forces to explore how some of the latest advanced manufacturing tools and processes can drive more efficient, smarter ways to reduce cost and increase productivity across BHGE’s operations. ...

Next UK fracer shrugs off shutdown risk seeing need for gas

The head of the company set to drill Britain’s first fracing well in a decade shrugs off the risk that protesters and government’s main opposition will shut down his project before it can start. ...

Decline rates from maturing oil wells in the Permian are on the rise

Oil producers in the Permian basin and elsewhere could soon find themselves facing the oilfield equivalent of trying to walk up the down escalator. ...

Alberta eyes help for energy industry in Canadian crude rout

Alberta Premier Rachel Notley said the province may soon announce more plans to help the local energy industry reap more value from its resources amid a slump in Canadian crude prices. ...

Equinor launches power-from-shore solution for Johan Sverdrup

Today the Norwegian Minister of Petroleum and Energy, Kjell-Børge Freiberg, officially opened the power-from-shore solution which will provide the Johan Sverdrup field in the North Sea with electricity for more than 50 years. Power from shore makes Johan Sverdrup one of the most carbon-efficient fields worldwide. ...

Oil link to Saudi stocks stronger with crude-dependent economy

Saudi Arabian stocks and Brent crude are trading with the strongest link in 15 months as the increasing price of the commodity could lead to faster economic growth for the world’s biggest oil exporter. ...

Oil rises as storm halts output, IEA warns producers are entering "red zone"

Crude rose as storm Michael strengthened and shut some U.S. oil output, while the International Energy Agency called on producers to pump more as the market is “entering the red zone.” ...

Noia accepting nominations for 2019 Industry Achievement Awards

Noia has informed its members, the oil and gas industry, and the public that nominations are now being accepted for the 2019 Industry Achievement Awards. Nominations will remain open until 5 p.m. Friday, November 16, 2018, for both the Outstanding Contribution Award and the Rising Star Award. ...

Aqualis Offshore completes Bahrain floatover

Aqualis Offshore has completed the floatover installation of the REGAS topside offshore Bahrain as part of the Bahrain LNG Import Terminal. ...

DNO ramps up Peshkabir field output to 50,000 bopd

DNO ASA, the Norwegian oil and gas operator, today announced production at Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget. ...

Oil explorers to spend $900 million in Mozambique

Exploration companies in Mozambique will spend at least $900 million, boosting the nation’s hopes of becoming a major exporter. ...

Majors about to bury skeptical investors in piles of cash

Investors still haven’t forgiven oil companies for being ill-prepared for a crude-price collapse four years ago. Perhaps more than half a trillion dollars will change their minds. ...

C-Innovation opens new Port Fourchon dock facility

C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, has opened a new dock facility in Port Fourchon, La., to expand the capabilities of its Subsea Services group. ...

Equinor reduces estimated investments in Norway by some NOK 30 billion

Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion ($3.6 billion) since the development plans were submitted to Norwegian authorities. ...

Petrofac secures $50 million contract extension in Iraq

Petrofac’s Engineering and Production Services (EPS) East business has secured a four-year renewal of a contract for maintenance management services for an international oil company client in Iraq. ...

Equinor has reduced estimated investments in Norway by some NOK 30 billion

Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion ($3.6 billion) since the development plans were submitted to Norwegian authorities. ...

National Oil Corporation, BP and Eni to resume exploration in Libya

A letter of intent (LOI) was signed in London by National Oil Corporation chairman Eng. Mustafa Sanalla, BP group chief executive Bob Dudley and Eni CEO Claudio Descalzi. ...

BMT secures marine monitoring contract for BP's Mad Dog Phase 2

BMT has won a contract to provide multiple marine monitoring systems for BP’s new Mad Dog Phase 2 semisubmersible floating production facility in the Gulf of Mexico. ...

Global Maritime announces major contract win for work on Equinor's Njord field

Global Maritime has been awarded a contract with Equinor until 2020 for marine operations. The contract value is estimated to be around $7-9.5 million, one of the largest in Global Maritime’s history. Global Maritime will oversee project management, engineering, equipment procurement and offshore management with everything handled from their Stavanger and Oslo offices. ...

Oil declines on hopes for U.S. waivers on Iran, Saudi assurance

Oil fell to the lowest in a week in London on renewed hopes the U.S. may soften the blow of sanctions on Iran’s crude exports, and as Saudi Arabia promised to fill any shortfall. ...

Egypt to receive first Israeli gas as early as March

Egypt will begin importing natural gas from Israel under a $15-billion deal as early as March if an undersea pipeline connecting the Mediterranean neighbors is found to be in good condition, moving the country closer to its goal of becoming an energy-exporting hub. ...

Baker Hughes to pay $550 million for stake in Adnoc drilling

Baker Hughes, agreed to buy a 5% stake in Adnoc Drilling, a deal that values the unit of government-run Abu Dhabi National Oil Co. at about $11 billion. ...

China slams brakes on U.S. crude oil imports

Although Beijing hasn’t sanctioned U.S. oil imports yet, Chinese buyers aren’t taking any chances. ...

Saudi prince sees deal with Kuwait to restart oil fields "soon"

Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude. ...

Scottish universities to partner in major energy sector education program in Mexico

The North-east of Scotland is set for an international boost, as its universities have been named as two of only four European institutions to be chosen by the Mexican Government to work in collaboration with Mexican universities to address the future needs of the country’s energy sector. ...

Saudi crown prince to Trump: We've replaced all Iran's lost oil

Saudi’s crown prince, facing U.S. pressure to tame surging oil prices, insisted that the kingdom is fulfilling promises to make up for Iranian crude supplies lost to American sanctions. ...

Stress Engineering Services delivers advanced monitoring and inspection solutions to Noble Corporation plc

Stress Engineering Services, Inc. has delivered a state-of-the-art real-time drilling riser and wellhead monitoring system (RFMS) for Noble Corporation’s ultra-deepwater drillship Noble Tom Madden. ...

Scottish universities to partner in major energy sector education programme in Mexico

The North-east of Scotland is set for an international boost, as its universities have been named as two of only four European institutions to be chosen by the Mexican Government to work in collaboration with Mexican universities to address the future needs of the country’s energy sector. ...

Savannah makes 5th consecutive discovery in Zomo-1, South Niger

Savannah Petroleum PLC has announced the result of the Zomo-1 exploration well as an oil discovery. ...

Arnlea secures $5.23 million contract, 2022 extension with Total

Total has extended its contract with innovative software business Arnlea to the end of 2022. ...

$5.23 million Total contract as Arnlea secures 2022 extension

Total has extended its contract with innovative software business Arnlea to the end of 2022. ...

U.S. oil's four-week winning run is hiding signs of weakness

While U.S. oil has been swept up in a global rally for the past four weeks on growing fears of a supply crunch, a closer look at the futures market signals American crude is weakening. ...

Liquids pipeline to convert to oil in an effort to alleviate Permian bottlenecks

The developer of the private equity-backed EPIC natural gas liquids pipeline will temporarily convert the conduit to carry crude oil as bottlenecks in America’s hottest shale play threaten to curtail production. ...

Block Energy signs MOU for gas offtake from West Rustavi license in Georgia

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has announced that it has signed a Memorandum of Understanding (MOU) with Bago Ltd (Bago), one of the largest private gas suppliers and purchasers in Georgia, for a proposed offtake agreement for gas produced at the Company’s West Rustavi permit. ...

Aker Solutions wins subsea order for giant Mero field, offshore Brazil

Aker Solutions has signed a contract with Petrobras to provide a subsea production system and related services for the Mero 1 project within the Mero field development, one of the largest oil discoveries in Brazil's pre-salt area. ...

Pipeline constraints hurt Canadian crude prices

Canadian oil hit a record low relative to U.S. crude, hurt by reduced capacity at American refineries and a jump in production from new oil-sands megaprojects that has overwhelmed the nation’s pipeline system. ...

Crude tumbles most in seven weeks as American stockpiles swell

Oil dropped from the highest price in almost four year amid signs of a growing crude surplus in the world’s biggest economy. ...

LMKR releases updates to GeoGraphix and GVERSE field planner

LMKR announced the release of GeoGraphix 2017.3, the latest upgrade to the GeoGraphix software that comes with extensive updates focused on increasing productivity. ...

ConocoPhillips announces $350-million divestiture in East Timor

ConocoPhillips has announced it has entered into an agreement to sell to the government of Timor-Leste its 30% interest in the Greater Sunrise fields. ...

Oil producers need to pump more or put demand growth at risk

Rising oil prices may hurt demand in some of the world’s fastest-growing nations unless producers take steps to boost supplies, according to the International Energy Agency. ...

Pragma, Saudi Aramco collaborate to develop extreme expansion technology

Pragma Well Technology Ltd., a FrontRow Energy Technology Group company focused on advanced production technologies, has secured a contract with Saudi Aramco worth over $700,000. ...

Petrofac secures North Sea contract extension with Chevron

Petrofac’s Engineering and Production Services (EPS) division has secured a 12-month engineering services contract extension from Chevron North Sea Limited (Chevron). ...

Equinor confirms Norwegian oil discovery, more than doubling Norne reserves

Equinor has, together with partners Eni and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 MMbbl of recoverable oil. The discovery more than doubles the remaining oil reserves to be produced through Norne field. ...

BP, Aker BP form strategic technology venture alliance

BP has announced that it has signed a ventures cooperation agreement with Aker BP to explore possible areas of cooperation in the development and deployment of advanced technologies in their businesses. ...

Aker Solutions to provide brownfield services for BP in Angola

Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola. ...

Oil CEOs jostle for global natural gas crown under Putin's gaze

Two oil company bosses shared a stage with one of the most powerful men in the market, and all they wanted to do was brag about natural gas. ...

Trump's request for OPEC to max-out oil output may backfire

If OPEC is the central bank of oil, then the Trump administration is commanding it to run the printing presses at full speed. ...

Putin tells Trump to "look in the mirror" when placing blame for high oil prices

Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices. ...

Laredo Energy VI weighs sale worth up to $300 million

Laredo Energy VI LP, a private-equity backed natural gas explorer in the Eagle Ford Shale of south Texas, is exploring a sale that could value the company at as much as $300 million, according to people familiar with the matter. ...

Saudis, Russia open oil taps while the market shrugs

Russia and Saudi Arabia are pumping an extra 1 MMbpd of oil and could do even more. Yet the market doesn’t seem to care. ...

BHGE, McDermott, LTHE awarded contract for ONGC's largest deepwater project

Baker Hughes, a GE company, McDermott International, Inc. and LandT Hydrocarbon Engineering (LTHE), a subsidiary of Larsen and Toubro (NSE: LT), were awarded the subsea contract for India’s Oil and Natural Gas Corporation’s (ONGC) largest deepwater project, the development of block DWN-98/2 in the Krishna Godavari basin. ...

Tendeka unveils new suite of applications to reduce use of water, pumping time

Independent global completions service company Tendeka, has launched the MajiFrac Solution, a new portfolio of applications which aims to reduce water use and pumping time during completion operations in unconventional shale plays in the U.S. ...

Lundin acquires interest in PL 359, containing the Luno II discovery

Lundin Petroleum AB has announced that its wholly-owned subsidiary Lundin Norway AS has entered into an agreement with Equinor Energy AS, under which Lundin Norway will acquire Equinor's entire 15% working interest in the Lundin Norway operated license PL 359, containing the Luno II oil discovery. ...

Iran's oil buyer and rival, UAE may be cracking down on trade

The United Arab Emirates, which has a history of talking tough on Iran while still buying its oil, appears to be taking steps to comply with looming U.S. sanctions against the Islamic Republic’s energy industry. ...

Rising oil bill may erase Egypt's savings from gas milestone

No sooner has Egypt achieved its milestone of regaining self-sufficiency in natural gas than another corner of the energy market threatens to deal a new blow to fragile government finances. ...

G3 Exploration gets approval for development of Chengzhuang Block in China

G3 Exploration Ltd., an independent specialist in the exploration and development of coal bed methane gas (CBM) with roots in China and a focus on international expansion, has announced that the China National Development and Reform Commission (NDRC) has issued its final approval for the Overall Development Plan (ODP) on the Chengzhuang Block (GCZ). ...

Canadian oil pain grows as crude discount to WTI Hits $40

Canadian heavy crude’s discount to WTI futures increased to the widest in almost five years, raising the specter of local oil producers curtailing operations. ...

Troubled $4.6 billion gas pipeline hits new snag

A $4.6 billion natural gas pipeline that’s already been delayed by about a year is facing yet another setback after a court vacated a key permit. ...

China boosts West African oil imports to offset trade war impact

China is set to boost its crude imports from West Africa to the highest in at least seven years this month as the trade war with the U.S. prompts the Asian nation’s refiners to find alternatives. ...

Bruised Canadian energy sector sees LNG project as first of many

While the LNG Canada facility that was greenlighted Tuesday won’t be operating for years, the battered Canadian energy industry is already hoping that it will be the first of many such plants on the country’s Pacific Coast. ...

NOV opens new service center for customers in the Eagle Ford

National Oilwell Varco (NOV) has announced the opening of a new service center in Pleasanton, Texas. The new center, which is the ninth Quality Tubing facility of its kind, is strategically located to service coiled tubing customers in the Eagle Ford shale play. ...

Fluor JV contracted for LNG Canada project

Fluor Corporation has announced that LNG Canada has made the final investment decision to build its liquefied natural gas (LNG) export facility in Kitimat, British Columbia, Canada. ...

Oil from Kuwait to U.S. stops for the first time since Gulf War

Kuwait has all but stopped shipping crude to the U.S. for the first time since the aftermath of Saddam Hussein’s invasion in 1990, eroding an economic link between Washington and the Arab petro-monarchy. ...

Iraqi crude exports extend gains in September as buyers shun Iran

Iraq exported more than 4 MMbpd for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of U.S. sanctions. ...

Iraq crude exports extend gains in September as buyers shun Iran

Iraq exported more than 4 MMbpd for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of U.S. sanctions. ...

YPF is said to shut gas wells as Argentine economy flops

YPF SA, Argentina’s state-run energy producer, is closing the tap on some of its natural gas wells as the nation’s second recession in three years curbs demand, according to people with direct knowledge of the matter. ...

TVO inks agreement with SubseaDesign for tethered BOP system

Trendsetter Vulcan Offshore (TVO), a developer of innovative solutions for the offshore industry, has signed an agreement with SubseaDesign AS in Norway, providing SubseaDesign sole rights to market and commercialize TVO’s patented Tethered BOP design for use in the Norwegian sector of the North Sea. ...

Shell-led LNG project bucks trend by not waiting for buyers

The developers of a $31 billion project to export Canadian LNG are building now and will seek buyers, later. ...

Russian oil output rises to record as OPEC cuts rolled back

Russia’s oil production hit a post-Soviet high last month as the country rolled back the output cuts it had agreed on with OPEC. ...

Iran's tracked oil exports hit 2 1/2-year low before sanctions

Oil exports from Iran fell to their lowest level in 2 1/2 years before the impending return of U.S. sanctions. ...

Equinor takes over as operator of Rosebank project, offshore UK

Equinor has signed an agreement to acquire Chevron’s 40% operated interest in the Rosebank project, one of the largest undeveloped fields on the UK Continental Shelf (UKCS). Once concluded, the transaction will strengthen Equinor’s UK portfolio, which includes the Mariner development, attractive exploration opportunities and three producing offshore wind farms. ...

Encana to sell its San Juan assets to DJR Energy

Encana Corporation has announced that its wholly-owned subsidiary, Encana Oil and Gas (USA) Inc., has reached an agreement to sell its San Juan assets, located in New Mexico for $480 million to Denver-based DJR Energy, LLC. ...

PDO for Norway's Nova development gets green light

Wintershall Norge AS and its partners have now received approval by the Ministry of Petroleum and Energy for the plan for development and operation (PDO) for the Nova development, about 120 km northwest of Bergen, Norway. ...

Power to the Permian? Spotty at best

America’s fastest-growing source of energy has a power problem. ...

Oil extends longest quarterly rally in a decade on supply risks

Oil extended gains in London after the longest quarterly rally in a decade as a slowdown in American drilling added to concern that supply losses around the world will lead to a tight market. ...

Chariot Oil and Gas to spud Prospect S, offshore Namibia

Chariot Oil and Gas Limited, the Atlantic margins focused oil and gas exploration company, has announced that the Ocean Rig Poseidon, a sixth generation deepwater drillship, has commenced its mobilization with estimated arrival at the Prospect S well location in Namibia in the next 24 hours. ...

Fate of shared oil fields unclear after Saudi-Kuwait royal talks

The Saudi crown prince held talks with Kuwait’s ruler about increasing cooperation on oil policies. ...

Trump gets oil traders' attention over call with Saudi king

Donald Trump spoke with King Salman bin Abdulaziz of Saudi Arabia, days after the U.S. president’s latest criticism of OPEC over high oil prices. ...