Drillmec’s Striker-800 cluster drilling rig departs for Argentina

Drillmec announced their Striker-800 cluster drilling rig is headed to Argentina to explore the Vaca Muerta shale play. ...

Nigeria can “easily” boost oil output next year, Kyari says

Nigeria can easily boost its oil production next year to at least 2.5 MMbpd, according to the newly appointed head of the state oil company. ...

Sembcorp Marine wins FPSO FEED Contract from Siccar Point

Siccar Point Energy has awarded an exclusive FEED contract to Sembcorp Marine for the design of a Sevan cylindrical FPSO, for its Cambo field development on the UK Continental Shelf. ...

Fugro secures second geothermal campaign success offshore Malaysia

Fugro has successfully completed the second of three Malaysian seep hunting and geochemical campaigns for Petronas. ...

Charity hosts annual golf tourney to help oilfield families in financial crisis

Oilfield Helping Hands, a non-profit organization helping oilfield families in financial crisis, will be holding its 14th Annual OHH Masters of Charity Golf Tournament on September 20, 2019, at BlackHorse Golf Club, 12205 Fry Road, Cypress, Texas. ...

Liza Destiny arrives offshore Guyana for Hess

This FPSO is a significant component of the Liza Phase 1 development, which involves four undersea drill centers with 17 wells. ...

Equinor swaps shares, $650 million in cash with Lundin to grow Johan Sverdrup share

Equinor has divested a 16 percent shareholding in Lundin for a direct interest of 2.6 percent in the Johan Sverdrup field, and a cash consideration of around USD $650 million. ...

China Big Oil’s upstream bet is paying off

China Big Oil wrapped up a first half that rewarded exploration and production and punished refining. ...

2019 Offshore Safety Awards winners announced

The annual awards ceremony, jointly organized by OGUK and Step Change in Safety and sponsored by Total, celebrates the outstanding individuals and companies going above and beyond to improve safety across offshore operations on the UK Continental Shelf. ...

Croatia awards six onshore exploration licenses in the Pannonian basin

Twenty-five new exploration wells are planned as part of the new cycle of onshore exploration for which Croatia has awarded licenses. ...

IPAA endorses Trump administration’s natural gas and oil production regulatory revision

"IPAA has consistently believed and recommended that a VOC-based program is the appropriate pathway for regulating natural gas and oil production emissions," said IPAA executive vice president Lee Fuller. ...

Tax issues scuttle Tullow’s Uganda farm-down agreement

The termination of this transaction is a result of being unable to agree all aspects of the tax treatment of the transaction with the government of Uganda, which was a condition to completing the sale and purchase agreements. ...

Duterte wants to use South China Sea ruling to warm China relations

Philippine President Rodrigo Duterte’s much-touted meeting with Chinese leader Xi Jinping does not appear to have yielded an agreement on the South China Sea territorial dispute between the two nations or a plan to explore the area for oil and gas. ...

Equinor, Weatherford sign $80 million liner hanger agreement

Weatherford has signed an $80 million liner hanger frame agreement with Equinor, representing the largest liner hanger frame agreement ever signed by the company. ...

Cyprus picks Chinese-led consortium for first LNG terminal contract

Cyprus’ national gas company DEFA has selected a multinational consortium to construct the country’s first LNG terminal. ...

BP focuses on deepwater, shale in historic shift south from Alaska

BP has closed one chapter in its U.S. business, exiting Alaska decades after transforming the state into an oil powerhouse. Now it’s time for a new phase in the company’s American story. ...

Canadian regulators, producers scrutinize Enbridge’s oil-shipping plan

Enbridge’s proposed shift to long-term crude shipping contracts on its Mainline pipeline network is drawing the ire of a growing number of producers, and now Canada’s energy regulator is getting involved, which could delay the process. ...

Thai oil giant seeks Middle East partners to meet growing energy demand

Thailand’s state-controlled oil and gas company PTT is looking to resource-rich countries in the Middle East to help meet the country’s growing energy demand. ...

Trump’s EPA to propose retreat on methane rules for oil wells

The U.S. Environmental Protection Agency is set to unveil a proposal that would step back from federal regulation specifically targeting methane emissions at oil and gas facilities, potentially staving off requirements for a million existing U.S. wells. ...

China, Philippines form alliance for South China Sea oil exploration

The Philippines and China will advance plans for joint oil and gas exploration in the South China Sea, a senior envoy announced before a meeting between President Rodrigo Duterte Chinese leader Xi Jinping in Beijing late Thursday. ...

Interstate Oil and Gas Compact Commission rejects the “Green New Deal”

The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's (R - Texas) resolution urging the federal government to oppose the Green New Deal in the spirit of cooperative federalism. ...

Borr Drilling taps RigNet for managed communications services

RigNet has signed a multi-year agreement with Borr Drilling, a global offshore drilling contractor, to exclusively provide enhanced managed communication services on all of their new jack-up rigs. ...

Royale finds pay in California’s Rio Vista field

Royale's CRC RVGU 4-3 well has encountered a total of 246 ft. of pay defined as probable and possible in the Domengine, Capay, and Mokelumne River formations. ...

Sodexo announces management changes

Sodexo announces two new appointments, based in their Houston office. ...

Perupetro, Searcher Seismic agree on offshore Peru multi-client campaign

Searcher Seismic has reached agreement with Perupetro to produce four new multi-disciplinary projects as part of its Offshore Peru multi-client campaign. ...

Wintershall Dea COO and deputy CEO to quit by the end of the year

Maria Moraeus Hanssen, COO and Deputy CEO of Wintershall Dea, will leave the company on December 31st, 2019 in order to pursue other opportunities. ...

Repsol Sinopec Brazil, Ouro Negro and PUC-Rio expand technological partnership

Repsol Sinopec Brazil, Ouro Negro and the Mechanical Engineering Department of PUC-Rio’s Technical and Scientific Center (CTC/PUC-Rio) are expanding their technological partnership, developing a through tubing logging profiling tool to assess cement quality in lined wells. ...

Encana sells Oklahoma natural gas assets

Encana's Arkoma assets included approximately 140,000 net acres of leasehold and production of approximately 77 MMcfd (98% natural gas). ...

Alaska is the biggest bet yet for Texas’ anti-shale oil billionaire

Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, he’s making his biggest bet yet -- Alaska -- just as shale producers run out of steam. ...

Offshore Europe Preview: OPEX Group’s Roy Buchan says digitalisation is key to increasing production efficiencies

Mr. Buchan is focused on helping operating companies to maximise the value of their operational data through the application of predictive technologies and data science. He recently offered his thoughts on the technical and operational trends affecting the UKCS/North Sea. ...

Offshore Europe Preview: Ardent’s Martin sees opportunities in decommissioning

Stuart Martin is a 35-year veteran of the upstream sector. With Ardent, his career has now come full circle from commissioning assets in the early 1980s to decommissioning the same assets now. ...

BP sells Alaska business to Hilcorp for $5.6 billion

BP agrees to sell all Alaska operations and interests to Hilcorp for $5.6 billion, including the Prudhoe Bay field and the Trans Alaska pipeline. Hilcorp is the largest private operator in Alaska, specializing in mature oil and gas assets. ...

Total strengthens its international partnership with Qatar Petroleum

Total and Qatar Petroleum have signed agreements under which Qatar Petroleum will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. ...

DNV GL awards thyssenkrupp first additive manufacturing Approval of Manufacturer certificate

The newly issued certificate makes the thyssenkrupp TechCenter Additive Manufacturing the world’s first producer of 3D printed parts for maritime applications to obtain manufacturer approval from DNV GL. ...

Halliburton Landmark introduces DecisionSpace 365 cloud applications at annual innovation forum

Halliburton released ten new DecisionSpace 365 EandP cloud-native applications that leverage advances in digital technology to help operators reduce exploration risk, improve reservoir characterization and boost drilling efficiency. ...

MODEC reports oil spill in Espadarte field offshore Brazil

MODEC informed Petrobras that cracks were identified at the hull of FPSO Cidade do Rio de Janeiro, at the Espadarte field, in the Campos Basin, 130 km off the coast of Brazil. ...

Significant gas and condensates find onshore Niger Delta for Eni

The find amounts to about 1 Tcf gas and 60 MMbbl of associated condensate in the deep drilled sequences. The discovery has further potential that will be assessed with the next appraisal campaign. ...

Kosmos boss looks to 1990s playbook in Africa oil hunt

Tracey Henderson is returning to the corner of Africa where two decades ago she started to make her name in the oil world. ...

Heavy oil premiums shrink as Asian fuel oil profits collapse

A plunge in fuel oil margins driven by impending environmental rules for shipping is beginning to take its toll on heavier grades of crude. ...

Hess taps Petrofac to decommission four Central North Sea wells

The agreement includes provision of Well Operator and Well Engineering Project Management services for four wells within the Rubie and Renee fields, 200 km north east of Aberdeen. ...

CGG begins new Brazil pre-salt 3D broadband survey

With an initial focus on Brazil’s 15th License Round blocks, the data is being acquired by the Geo Caribbean, and a portion of the survey will provide 3D data coverage where no other 3D data currently exists. ...

TechnipFMC CEO comments on onshore, offshore spinoffs

During a conference call regarding the announced TechnipFMC split Monday afternoon, chairman of the board and CEO Douglas J. Pferdehirt said, “There are very few synergies between upstream and downstream. We are seeing the beginning of a shaping of our industry. We believe that what we are creating, others will follow. “ ...

TechnipFMC to split, spinning off onshore, offshore segments

TechnipFMC announced its board of directors has unanimously approved its plan to separate into two independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider; and SpinCo, an engineering and construction business. ...

ExxonMobil, Mosaic Materials to explore carbon capture technologies

Mosaic Materials has progressed research on a process that uses porous solids to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further evaluation of opportunities for industrial uses of the technology at scale. ...

Permian boom collides with New Mexico governor’s climate-change push

On the Texas side, oil and gas producers can drill and frack with relatively few bureaucratic hurdles. In New Mexico, companies need additional approvals from either the U.S. Bureau of Land Management or the state’s Land Office and Oil Conservation Division. ...

Ecopetrol deploys subsea exploration drones off La Guajira peninsula

Ecopetrol will employ unmanned underwater gliders to navigate an extensive area of the Colombian Caribbean to acquire information related to physical-chemical variables of the ocean. ...

Oil jumps after Trump says China wants to restart trade talks

Oil jumped after U.S. President Donald Trump said that China wanted to restart trade talks, potentially easing escalating tensions between the two countries. ...

Husky starts production at Dee Valley thermal project

Husky Energy has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000 bpd thermal bitumen projects to be brought onstream from 2018 to 2022. ...

Iran sold oil on tanker wanted by U.S., but doesn’t know where it’s going

Iran said it sold an oil cargo on board a contested tanker sailing the Mediterranean Sea but didn’t know where the vessel was going amid U.S. efforts to block delivery of the crude. ...

Verisk to acquire Genscape, expanding Wood Mackenzie’s data capabilities

Genscape operates the world’s largest private network of in-field monitors and distributes alternative energy data, delivering market intelligence across the commodity and energy spectrum. This transaction will enhance Wood Mackenzie’s research and consultancy across the natural resources sectors. ...

Oil tariff hits just as six tankers head to China with U.S. crude

Six ships, carrying about 12 MMbbl of U.S. crude, are headed to China just as Beijing prepares to impose its first ever levy on American oil next month. ...

PDC Energy, SRC Energy combine in $1.7 billion all-stock transaction

PDC Energy and SRC Energy announced a definitive merger agreement under which PDC will acquire SRC in an all-stock transaction valued at approximately $1.7 billion. ...

Nigerian court orders Shell oil lease to be renewed

A Nigerian high court ordered the government to renew Shell Petroleum Development Co.’s operating license for the Oil Mineral Lease 11 field, which was withdrawn earlier this year, Lagos-based Punch newspaper reported. ...

New U.S. LNG export plans threatened as trade war drags on

Liquefied natural gas may have dodged the latest round of Chinese tariffs on U.S. goods, but plans for new American terminals to ship the fuel abroad are under threat as the trade war escalates. ...

New Citgo chief won’t sell out, making debt reduction a top priority

Citgo Petroleum isn’t for sale, says the man named the company’s new leader by the opposition to Venezuelan President Nicolas Maduro. His priority moving forward is to prepare for a return to normalcy. ...

China places first-time tariff on U.S. crude

Crude plunged to a two-week low after China announced tariffs on U.S. crude oil for the first time as the trade war between the world’s biggest economies escalated. ...

Oil sinks as China places first-time tariff on U.S. crude

Crude plunged to a two-week low after China announced tariffs on U.S. crude oil for the first time as the trade war between the world’s biggest economies escalated. ...

Permian basin prices up as Gulf Coast Express Pipeline nears completion

Natural gas spot prices at the Waha hub in western Texas, located near Permian Basin production activities, closed at $1.55/MMBtu on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service. ...

Cap on sulphur emissions to drive global demand for LNG as shipping fuel

The new IMO regulation will have an impact on up to 70,000 ships around the world once it comes into effect on January 1, 2020. Vessel operators are expected to turn to cleaner fuels to meet their targets and global environmental commitments. ...

Tenaris receives $1.9 billion tubulars and services contract from ADNOC

The award forms part of an initiative by ADNOC to secure smart procurement solutions that add value to its upstream oil and gas drilling business and promote in-country investment and service provision. ...

Ocean Power Technologies trials autonomous monitoring buoy with Premeir Oil

This deployment of a PB3 PowerBuoy will serve Premier as an autonomous intelligent platform, providing communications and remote monitoring services at Premier’s Huntington field in the central North Sea. ...

Permian Basin prices up in recent weeks as the Gulf Coast Express Pipeline nears completion

Natural gas spot prices at the Waha hub in western Texas, located near Permian Basin production activities, closed at $1.55/MMBtu on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service. ...

Schlumberger open-sources data ecosystem, contributing to industrywide data development

Schlumberger announced that it will open-source its data ecosystem, and contribute to The Open Group Open Subsurface Data Universe™ (OSDU) Forum to accelerate the delivery of the OSDU Data Platform. ...

Half of Venezuela’s oil rigs may vanish if U.S. sanctions waivers lapse

Almost half the rigs operating in Venezuela will shut down by Oct. 25 if the Trump administration doesn’t extend a 90-day waiver from its sanctions, according to data compiled from consultancy Caracas Capital Markets. ...

Oil edges down as rate-cut anticipation balances demand fears

Oil ended lower as weak U.S. factory data highlighted demand concerns, and prospects of a Federal Reserve interest rate cut. ...

LAGCOE introduces Energy Innovators Pitch Challenge for 2019 event

In partnership with The Idea Village and sponsored by Shell Game Changer, this event will connect the best new energy innovators with funding to help further the development of exciting new products and technologies for the energy industry. ...

Cuadrilla halts UK frac operation following “micro seismicity”

Cuadrilla confirmed that micro seismicity had been detected at its shale gas exploration site at Preston New Road, near Blackpool, Lancashire, England. ...

EIA: 2018 OPEC net export revenues highest since 2013, but likely to decline

The U.S. Energy Information Administration estimates that OPEC members earned almost $711 billion in net oil export revenues in 2018. The estimate is up 29% from 2017, but about 40% lower than the record high of almost $1,200 billion in 2012. ...

BP awards FMS eight-figure North Sea mooring contract

FMS, a leading independent supplier of mooring equipment to the global oil and gas industry, has secured a three-year contract with BP for the provision of mooring equipment for its North Sea operations. ...

Wild Well Control adds new 10,000 psi-rated capping stack to WellCONTAINED program

The 10,000 psi-rated stack is rated to water depths of 10,000 ft, and will play a vital role in supporting quick and effective service for subsea well control events in Northern Europe. ...

MODEC awards Trelleborg fast-track contract for ENI Mexico Area 1 FPSO

Trelleborg’s offshore operation has been awarded a fast track contract to produce over 80 laminated elastomeric bearings for MODEC, a leading specialist for offshore floating solutions. ...

New system reveals near-field opportunities in the UK North Sea

An industry task group has created the Reserves Progression self-verification check list tool, to help operators improve overall recovery rates and extend the productive life of the UK Continental Shelf (UKCS). ...

Nissan Chemical America receives its first oilfield nanotechnology patent

The company says its nanoActiv EFT is the first micellar dispersion additive that applies nanoparticle technology to increase initial oil and gas production. ...

Storage tanks in Europe are brimming with cheap LNG

“Northwest Europe has had most of the gains in LNG deliveries this year owing to the ability to sell cargoes into highly liquid markets,” said Leyra Fernandez Diaz, a gas analyst at Energy Aspects Ltd. ...

Mexico opens door to going naked on oil hedge

Mexico usually buys put options from a small group of investment banks, starting as early as May, in what’s considered one of Wall Street’s largest -- and most secretive -- annual oil deals. ...

Traders spot opportunity with LNG prices at rock bottom

After prices plunged to their lowest on record for this time of year, traders say buyers from Japan to India have started to snap up cargoes in anticipation of a pickup in winter demand. Procurement for the colder season is only expected to intensify over what’s left of the summer. ...

Future in doubt for Eurpoe’s biggest gas export hub

The GasTerra venture, handling more than a fifth of all the gas produced in Europe, had already been faced constraints after tremors damaged nearby buildings. But shutting down is a step further — raising questions about import dependency for Europe. ...

Putin’s budget has lowest break-even oil price in over a decade

Oil prices may be recovering, but Russian President Vladimir Putin isn’t taking any chances, running a budget that balances at the lowest crude price in more than a decade. ...

Foreign oil firms bailing on Canada in $30 billion exodus

Capital keeps marching out of Canada’s oil industry, with Kinder Morgan’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years. ...

Future Energy Professionals program offers STEM experience at LAGCOE 2019

LAGCOE’s Future Energy Professionals program provides industry education to students to ensure a constant and qualified workforce pipeline for generations to come. ...

Pembina to buy Kinder Morgan’s oil assets for $3.3 billion

Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry, agreeing to buy Kinder Morgan Inc.’s Canadian unit and the U.S. portion of a key pipeline for about C$4.35 billion ($3.3 billion). ...

C-Kore logs subsea testing success for Dana Petroleum

C-Kore Systems has completed a successful subsea testing deployment in the North Sea, on the Greater Guillemot Area field. ...

Chevron Technology Ventures pitches in on Well Conveyor development

The Slim Battery-powered Conveyor will be the smallest diameter downhole tractor available on the market, offering access to the increasing number of slim, horizontal and highly deviated wells, which up to now have not been serviceable with wireline conveyance. ...

Equinor expands its cooperation with YPF for offshore exploration in Argentina

The preliminary agreement sets the core terms and conditions for YPF’s transfer of 50% of its share in the CAN 100 offshore block, and will enable both companies to expand their alliance and move forward with the exploration process in the Argentinian offshore. ...

ADNOC smart procurement program awards multi-billion-dollar OCTG contracts

ADNOC announced the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives value through its smart approach to procurement. ...

Schlumberger deploys its DELFI cognitive EandP environment for Woodside Energy

Woodside will leverage this secure cloud-based software environment to increase consistency, reduce study cycle time and foster innovation in its subsurface characterization and development activities. ...

Rival Downhole Tools secures five-year drilling motor supply agreement

"The domestic motor market is exceedingly competitive and extremely transactional. This type of long-term commitment speaks to the value of the team we've built and the quality of our products and services," says Neil Fletcher, CEO, Rival. ...

New session at Offshore Europe to focus on extending life of fields

Subsea UK will host a session at this year’s Offshore Europe looking at how underwater operations can extend the life of fields and maximize economic recovery from the UKCS. ...

Chevron Technology Ventures pitches in on Well Conveyor wireline tractor development

The Slim Battery-powered Conveyor will be the smallest diameter downhole tractor available on the market, offering access to the increasing number of slim, horizontal and highly deviated wells, which up to now have not been serviceable with wireline conveyance. ...

Total seeks to finalize Papua LNG talks this month

The Total SA-led liquefied natural gas joint venture in Papua New Guinea is seeking to finish a new round of negotiations with the government by the end of August, while insisting that the original agreement signed with the state in April is fair and equitable to both sides. ...

Aker wins umbilicals order for Dalma project in UAE

Aker Solutions has won an order from ADNOC to deliver subsea umbilicals for the Dalma gas development project located offshore UAE in the shallow waters of the Persian Gulf. ...

BP deck operations contract a first for Sparrows Group in UKCS

Sparrows has been providing crane maintenance and operations services to BP in the North Sea for more than 45 years. ...

Subsea 7 bringing experienced engineers to oil and gas

Subsea 7 is continuing its Engineering Conversion Program, based in Aberdeen, to help experienced engineers from civil engineering and military roles to transfer skills and build new careers in the subsea oil and gas industry. ...

Shale bond buyers get picky as more producers default

After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make. ...

Saudi oil fields are in the firing line as Gulf conflicts continue

Flaring tensions in the Persian Gulf have seen some of the world’s biggest crude deposits, along with processing and transport infrastructure and vessels, targeted by explosives-laden drones and bombings. ...

Hong Kong billionaire’s Husky bet loses over 80% in a decade

Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting -- and some analysts are calling on him to stop the bleeding. ...

Subsea 7 Engineering Conversion Program brings experienced engineers to oil and gas

Subsea 7 is continuing its Engineering Conversion Program, based in Aberdeen, to help experienced engineers from civil engineering and military roles to transfer skills and build new careers in the subsea oil and gas industry. ...

EIA: U.S. leads global oil and production, with record growth in 2018

The Energy Information Administration reported that U.S. petroleum and natural gas production increased by 16% and by 12%, respectively, in 2018, and these totals combined established a new production record. ...

Indianola Energy upstream strategy earns $100 million equity commitment

The company announced a $100 million equity commitment to pursue a new upstream strategy, designed to provide both capital and an execution team to help producers accelerate value on undeveloped acreage in highly-proven resource plays across North America. ...

Wood to sell nuclear business for $300 million as it cuts debt

Wood Plc has agreed to sell its nuclear business for 250 million pounds ($302 million), as it cuts debt associated with the 2017 acquisition of Amec Foster Wheeler and a prolonged oil-price slump. ...

First liquid achieved at Freeport LNG Train 1

McDermott International, along with its partners, Chiyoda International and Zachry Group, today announced that Train 1 of the Freeport LNG project on Quintana Island in Freeport, Texas, has begun producing LNG. ...

Equinor and partners log Barents Sea discovery

Equinor and partners OMV and Petoro have made an oil discovery in the Sputnik exploration well in the Barents Sea. Recoverable resources are preliminarily estimated at 20-65 MMboe. ...

Oil climbs as Huawei sanctions delay offers sign of trade war truce

Oil climbed as the U.S. delayed sanctions against Huawei Technologies, offering a hint of progress in its trade war with China, and a drone attack in Saudi Arabia highlighted simmering Middle East tensions. ...

2019 World Oil Awards finalists announced

For 18 years, these prestigious awards have recognized and honored the upstream energy industry’s leading innovators and innovations and recognized step changes in technology that have made a lasting impact. ...

EIA: Natural gas deliveries to U.S. LNG export facilities set a record in July

In the first seven months of 2019, natural gas feedstock deliveries to LNG export facilities have been the fastest growing among all U.S. natural gas consumption sectors ...

Hibernia production halted again following spill

“The nature and frequency of these incidents in our offshore area are obviously concerning,” said Scott Tessier, CEO of the Canada - Newfoundland and Labrador Offshore Petroleum Board. ...

South Sudan discovers new oil, plans output by year-end

South Sudan has made a new crude find in the northern oilfields of Adar and plans production by the end of the year, Information Minister Michael Makuei Lueth said. ...

U.S. oil poses threat to Mideast sellers with Asia trading debut

The rivalry between U.S. and Middle Eastern oil producers has jumped up a notch as American crude makes its way right to the heart of Asia, the world’s most-prized energy market. ...

Petrofac and SOCAR JV secures Caspian engineering and technical services contract

The 12-month contract, with option to extend, will support activity in the Absheron natural gas field, located in the Caspian Sea approximately 100 kilometers south of Baku. ...

Husky to resume full production at White Rose offshore Newfoundland

Husky Energy announced it will resume production from the remaining two drill centers shut in following a November 2018 oil spill offshore Newfoundland and Labrador. ...

Equinor completes $965 million GoM acquisition from Shell

The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction, in which Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell for $965 million in cash. ...

Total says it’s committed to $23 billion Mozambique LNG project

“I would like to reaffirm the importance of Mozambique LNG for Total, where we will become the operator,” Patrick Pouyanné, Chief Executive Officer of the Paris-based oil major said Friday. “This is a unique asset which perfectly fits our strategy and our skills." ...

Oil refiners preparing to gain on IMO 2020 vessel fuel rules

Profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs. Margins have expanded around 40% since late April as International Maritime Organization rules that prohibit ships from using dirty fuel from Jan. 1 are set to bolster diesel demand, while cutting fuel oil use. ...

Oil rises as Saudi drone attack stokes export concerns

Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardize crude exports. ...

U.S. oil export race accelerates as Enterprise makes leap ahead

The race to develop oil terminals that can fully load supertankers on the U.S. Gulf Coast remains congested, even as one of North America’s largest pipeline operators decided to push its project ahead. ...

Saudi oil field targeted by drone attack, production unaffected

Yemeni rebels attacked oil and gas facilities at the Shaybah field in southeast Saudi Arabia, but failed to disrupt production. ...

Frac companies get fresh hope UK government will loosen rules

A change of British government has given the much-maligned fracing industry another opportunity to make out its case for stimulating the controversial technique to tap unconventional natural gas reserves. ...

GulfDrill JV inks $656 million jackup contract with Qatar Petroleum

Seadrill and Gulf Drilling International have entered into a 50:50 joint venture, GulfDrill, which will initially manage and operate five premium jackups in Qatar with Qatar Petroleum commencing throughout 2020. ...

API: Total U.S. petroleum demand in July highest since 2005

Total U.S. petroleum demand averaged 20.8 MMbpd in July 2019, which represented a 0.9% year-over-year increase and the highest demand for the month since 2005, per the American Petroleum Institute. ...

China’s biggest energy company shuns Venezuela oil on tighter U.S. sanctions

China’s biggest energy company is backing away from direct purchases of Venezuelan crude as the Trump administration tightens sanctions against the South American nation. ...

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said. ...

Norway’s offshore production beats July forecast, still down for the year

The Norwegian Petroleum Directorate’s preliminary production figures for July 2019 show an average daily production of 1,799,000 bbl oil, NGL and condensate, which is an increase of 402,000 bpd compared to June. ...

Canadian petroleum agency approves Hibernia platform restart following spill

The Canada-Newfoundland and Labrador Offshore Petroleum Board issued approval to Hibernia Management and Development Company Ltd. to resume production operations at the Hibernia platform. ...

Oil heads for weekly gain as trade war headlines whipsaw market

Oil headed for a weekly increase as hopes that the U.S. and China could resume negotiations to resolve their trade dispute capped a week of volatile trading. ...

Well-safe Solutions awards contracts for dedicated PandA rig

Well-Safe Solutions has awarded two multi-million-pound contracts to continue the transformation of the Well-Safe Guardian, the decommissioning company’s first asset, into a bespoke plug and abandonment unit. ...

Upwing Energy awarded 10 new downhole rotating device patents

Upwing Energy has been awarded 10 new patents, for critical enabling technologies in the company’s downhole rotating tools, and proprietary methods used to increase hydrocarbon production and recovery. ...

EIA: Natural gas production at record-high levels despite low prices

U.S. natural gas production continued to increase in August despite relatively low natural gas spot prices, setting a new daily production record of 92.1 Bcfd on August 5, 2019, according to data from OPIS PointLogic Energy. ...

Weatherford automated connection integrity system reaches deployment milestone

Weatherford’s Vero automated connection integrity system, which applies artificial intelligence to validate well integrity and minimize safety risks, has completed 15,000 tubular connections in 50 operations worldwide since its market debut. ...

U.S. threatens sanctions over Iran tanker after court ruling

The U.S. is disappointed with the UK after a Gibraltar court allowed the release of an Iranian tanker, and threatened sanctions against ports, banks and anyone else who does business with the ship or its crew, two administration officials said. ...

U.S. oil sanctions leave Russian exporters $1 billion richer

U.S. sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters. ...

Iran oil tanker released by Gibraltar, setting up race with the U.S.

Iran is racing to return an oil supertanker to international waters after a Gibraltar judge said he couldn’t wait for the U.S. to take action that would prolong the six-week seizure of the vessel for allegedly violating trade sanctions. ...

Oil declines as trade war casts dark cloud, stockpiles rise

Oil fell for a second day as the U.S.-China trade war escalated against the backdrop of swelling American crude inventories. ...

Green energy has a plethora of failures

The annals of green energy are filled with failures. Many ideas struggled to move from the lab to the factory. ...

GE stock drops as whistleblower levels accounting accusations

Harry Markopolos, who had raised concerns over investment manager Bernie Madoff before his Ponzi scheme was exposed, said GE has understated liabilities in its insurance unit and hasn’t properly accounted for its investment in Baker Hughes. ...

U.S. DOJ seeks to seize Iranian tanker held in Gibraltar

The U.S. Department of Justice is seeking to seize supertanker Grace 1, arrested last month in Gibraltar on suspicion of hauling Iranian crude oil to Syria in violation of European sanctions. ...

MODEC issues $1.1 billion in bonds to refinance FPSO in Brazil

This project bond was issued for the FPSO Cidade de Mangaratiba MV24 which has been deployed and is currently in operation at the Iracema Sul oil field, operated by Petrobras, in the "pre-salt" region offshore Brazil. ...

Equinor’s $7.7 billion Mariner field starts up in the UK North Sea

The Mariner reservoirs have up to 3 billion boe in place, a 50% increase on what was originally assumed, and the estimated recovery rate has already been increased by 20 percent. Mariner is expected to produce annual average plateau rates of around 55,000 boed and up to 70,000 boed day at peak production. ...

Angola to offer 10 frontier offshore blocks in new license round

ANPG, the national concessionaire for Angola, holds mineral rights for the exploration, development and production of liquid and gas hydrocarbons. The blocks, which are all considered frontier, currently have no hydrocarbon production. ...

‘Back-loaded’ hurricane season in store for U.S. Gulf of Mexico

At risk is $17 trillion in U.S. real estate along the coasts, as well as some of America’s most valuable commodities. More than 45% of U.S. refining capacity and 51% of gas processing is along the Gulf of Mexico coastline. ...

Canadian energy stocks ‘decoupling’ from oil price movements

The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. ...

Saudis defending coveted India oil market with Reliance deal

Saudi Aramco’s proposed purchase of part of India’s Reliance Industries Ltd. will allow it to regain its grip on the world’s fastest-growing oil market where suppliers including the U.S. and Russia are making inroads. ...

U.S. seeks further detention of seized Iranian tanker, Gibraltar says

The U.S. is seeking to block authorities in Gibraltar from releasing the supertanker Grace 1, which was seized last month on suspicion of hauling Iranian crude oil to Syria in violation of European sanctions. ...

TGS completes acquisition of Spectrum

Kristian Johansen, CEO of TGS, said “The acquisition fits well with our asset-light business model and provides significant momentum to deliver on our long-term strategy. Further, the combination of TGS and Spectrum has been well received by our clients who will benefit from our comprehensive data library, quality and service.” ...

Interventek secures Trendsetter well intervention safety valve contract

The shear-and-seal subsea safety valves will be delivered by early 2020 for integration into Trendsetter’s MkII 15K Light Riser Intervention System. The system is scheduled for its first deployment for a major international oil and gas operator, around March 2020, as part of a subsea well intervention project in Latin America. ...

Oil retreats after biggest jump in five weeks as stockpiles rise

Oil declined after its biggest surge in five weeks as an industry report showed American crude stockpiles expanded, paring a rally that was fueled by signs the U.S.-China trade deadlock may be easing. ...

Petrobras contract penalties swing Vantage Drilling to profit

Vantage Drilling reported net income of $590.7 million for the second quarter of 2019, thanks to payments of more than $700 million by Petrobras for terminating drilling vessel contracts. ...

UK introduces first training standards for industrial drone operators

The ECITB-approved Industrial Drone Operations Training Course was developed to ensure that the next generation of drone operators attain and develop the skills and knowledge they need to operate safely in heavy industrial environments that have specific operational hazards and constraints. ...

Equinor to start Utgard production in September

Equinor estimates the expected total Utgard sales volume at 1.71 million m3 condensate, 2.73 billion m3 gas and 0.56 million tons of NGL. ...

World’s largest tanker starts 12,400-mile journey to meet IMO regulations

The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that’s intrigued the shipping market and fuel traders for months. ...

EPA plans to end methane emission rules that oil companies want to keep

The Trump administration is readying a plan to end direct federal regulation of methane leaks from oil and gas facilities, even as some energy companies insist they don’t want the relief. ...

Oil rises most in 7 months as tariff delay brightens outlook

Crude oil jumped the most since early January as the trade deadlock between the world’s biggest economies showed signs of easing, calming fears that global economic growth would be endangered. ...

Idling LNG tankers hint at increasing appeal of floating storage

Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some traders are starting to use vessels for storage. ...

LAGCOE 2019 announces conference speakers and session tracks

The theme for LAGCOE 2019 is the Future of Energy Starts Here, chosen to emphasize the profound and exciting changes that are shaping and will continue to shape oil and gas in the future. ...

Colombia’s Ecopetrol reports profit growth despite falling commodity prices

Ecopetrol recorded net profits of $ 6.2 billion in the first half of 2019, the highest since 2013 for the first half. Profits grew 1.6% while the price of Brent crude decreased 7% in that period. ...

OPEX secures CNOOC North Sea predictive analytics contract

Predictive analysis services provider OPEX Group has secured a new multi-million-pound contract with CNOOC Petroleum Europe Limited, for digital services across the company’s UKCS assets. ...

Aramco remains world’s most profitable company even as oil falls

Saudi Aramco showed Monday it’s still the world’s most profitable company -- and paid out almost all its net income in dividends -- despite the dwindling price of oil. ...

API addresses industry, regulatory concerns with new bolting standards

API TR 21TR1 seeks to address industry and regulatory concerns regarding connector bolts in all equipment deployed in offshore and other oil and natural gas exploration and production. ...

Iran expects tanker held by UK to be released soon

Iran expects an oil tanker seized by the UK in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about the safety of shipping routes in the Middle East. ...

Guyana may not be ready for its pending oil riches, but ExxonMobil is

This tiny nation on the north coast of South America is about to become the world’s newest petrostate—and potentially the richest. ...

New Permian pipeline makes first delivery at Corpus Christi export terminal

Trafigura and Buckeye announced today that Trafigura has received its first delivery of Permian crude oil from Plains All American’s Cactus II pipeline at the Buckeye Texas Partners terminal in Corpus Christi, Texas. ...

Saipem taps DNV GL for digital twin system

Saipem, the energy and infrastructure solution provider, is implementing DNV GL’s hull planned maintenance system, ShipManager Hull, on five vessels of the Saipem fleet. ...

Oil snaps three-day gain as selloff counters crude inventories

Oil snapped a three-day gain as a sell-off in risk assets added to lingering trade tensions to dent the demand outlook, countering a forecast decline in U.S. crude stockpiles. ...

Aramco taking $75-billion stake in Reliance Industries’ oil, chemicals unit

The world’s biggest crude producer will soon own a part of the world’s biggest oil refinery. ...

Saudi Aramco offers no surprises in first earnings results call

Saudi Aramco’s senior executives can breathe a collective sigh of relief after the company’s first-ever earnings call with investors. The half-hour event was a pretty gentle affair with few questions that were likely to embarrass a company with a potentially lucrative share sale in the works. ...

API: Improved endangered species rules will ensure habitat conservation, species protection

API says the streamlining of these regulations will ensure that public-private projects can further promote the conservation of habitat and protection of endangered species, while focusing resources on environmental improvements across the country. ...

McDermott awarded Gulf coast PDH project FEED contract

McDermott International announced it has been awarded a sizeable contract by PetroLogistics ll to perform the front-end engineering design services for a propane dehydrogenation (PDH) facility planned for the U.S. Gulf Coast. ...

EIA: Australia is on track to become world’s largest LNG exporter

Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019. ...

Halliburton wins Senegal deepwater drilling, completion and testing services contracts

Woodside Energy Senegal awarded Halliburton nine conditional contracts for drilling and completion services for SNE Field Development Phase 1 offshore Senegal. ...

Tullow makes “significant” oil discovery offshore Guyana

Tullow Oil has made its first discovery in its Orinduik license offshore Guyana, exceeding pre-drill forecasts and paving the way for more exploration wells in the near future. ...

COOEC Offshore and Expro form international riserless well intervention alliance

China-based COOEC Offshore has formed an alliance with international oilfield services company Expro, expanding their Riserless Well Intervention (RWI) capabilities and resources. ...

Aramco taking $75 bn stake in Reliance Industries’ oil, chemicals unit

The world’s biggest crude producer will soon own a part of the world’s biggest oil refinery. ...

Wintershall Dea starts Dvalin production drilling offshore Norway

Wintershall Dea has begun drilling four production wells on the Dvalin gas field in the Norwegian Sea, getting ready for the start of production in 2020. ...

Oil declines as trade tensions continue to stoke demand fears

Oil dropped as U.S. President Donald Trump said planned trade talks with China next month could be called off, stoking concerns the deepening dispute will damage global growth. ...

Oil power shifts as Russia’s wealth strengthens its OPEC leverage

the Bank of Russia’s total stockpile of cash, gold and other securities is about to surpass Saudi Arabia’s, highlighting the Kremlin’s leverage in talks between major oil producers about how much to reduce production. ...

Sanchez Energy declares bankruptcy, secures new financing commitments

Sanchez Energy has voluntarily filed for bankruptcy, following an "extensive review of strategic alternatives to align its capital structure with the continued low commodity price environment." ...

Venezuela importing the most fuel since U.S. sanctions started

Venezuela is importing fuel at a rate not seen since the U.S. imposed crippling sanctions on the country and cut off its main supply of foreign gasoline. ...

Pakistan makes two arrests in LNG contract graft investigation

Pakistan’s anti-graft agency arrested its former finance minister and the former chief executive of Pakistan State Oil Ltd. as part of the Prime Minister's crackdown on political leaders allegedly involved in corruption. ...

Oil rises as investors weigh Saudi action against demand concern

Oil surged to start the U.S. session as investors weighed the latest steps from Saudi Arabia following a selloff earlier in the week. ...

Western Midstream names new leadership to “grow alongside Occidental” following acquisition

"Occidental sees great value and opportunity in the excellent Western Midstream asset base and is committed to value-enhancing opportunities for both companies," said Vicki Hollub, president and CEO of Occidental. ...

Texas AandM, petrochemical companies partner to train emergency responders

In a new approach to help protect their facilities and the citizens who live nearby, several petrochemical companies are partnering with the Texas AandM Engineering Extension Service (TEEX) to provide emergency response training to the agencies surrounding their plants to protect community safety. ...

Tiny Pacific island eyes LNG market debut with supply deal

New Caledonia, a French territory in the South Pacific, is joining the global liquefied natural gas boom with a plan to use the cleaner-burning fossil fuel in power generation. ...

Texas regulator shifts stance as gas flaring hits record

A split vote by Texas regulators over the flaring of natural gas indicates the controversial practice may be curtailed. ...

Coal being replaced by natural gas to generate electricity

The coal industry is in terminal decline and companies are suffering. ...

IEA says outlook for global oil demand is fragile

The outlook for global oil demand is “fragile” amid growing signs of an economic slowdown, which squeezed consumption growth during the first five months of this year. ...

Texas regulator issues fines for 270 oil and gas safety violations

The Railroad Commission of Texas assessed $864,689 in fines involving 270 enforcement dockets against operators and businesses at the Commissioners' conference this week. ...

Oil rebounds from seven-month low as Saudis seek to stem slide

Oil rebounded from the lowest level since January after Saudi Arabia contacted other producers to discuss options to stem a rout that’s been driven by the worsening U.S.-China trade war. ...

Occidental completes acquisition of Anadarko

Occidental Petroleum today announced the successful completion of its acquisition of Anadarko Petroleum in a transaction valued at $55 billion, including the assumption of Anadarko’s debt. ...

Talos logs two Green Canyon deepwater strikes

Talos Energy reported successful drilling operations in its Bulleit and Orlov prospects in the Green Canyon deepwater Gulf of Mexico block as part of its second quarter 2019 earnings results. ...

Chevron warns future Venezuela events may hurt earnings

The last major U.S. oil producer in Venezuela is warning that developments in the crisis-torn South American nation could hurt its earnings. ...

Pemex commits $10 billion to onshore and offshore field development

Pemex received approval from Mexico’s National Hydrocarbon Commission (CNH) for a $10-billion, 25-year investment commitment to develop onshore and offshore exploration opportunities. ...

Saudis to suppress oil supply in September to stabilize market

Saudi Arabia plans to keep oil exports below 7 MMbpd next month as the OPEC country allocates less crude than demanded by customers to help stabilize the market, according to Saudi officials. ...

Alberta’s oil limits finally seem to be working

Alberta’s oil production curbs finally appear to be draining inventories, at least for now. ...

Saudis have few good options in talks with OPEC+ allies

Saudi Arabia is considering means to end the slump in oil prices, but the options available to them are scarce. ...

Qatar invests $550 million in Permian midstream operator

An affiliate of Qatar Investment Authority has acquired a significant stake in Oryx Midstream Services, from an affiliate of Stonepeak Infrastructure Partners, committing to a $550 million development investment. ...

PJ Valves secures three FPSO supply contracts

PJ Valves, the specialist manufacturer and supplier of valves for the global energy industry, has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria. ...

Oil slump deepens on unexpected jump in U.S. fuel stockpiles

Oil plunged, re-entering bear-market territory, as a surprise increase in American fuel stockpiles fueled worries about a growing glut, feeding into an increasingly dismal economic view. ...

Speedcast to provide fully-managed communications onboard Seadrill’s West Bollsta newbuild

Speedcast announced that the company has been awarded a new multi-year communications and IT solutions contract on the West Bollsta semi-submersible rig, a newbuild operated by Seadrill off the coast of Norway. ...

RigNet signs long-term contract extension with Valaris

Under the agreement, RigNet will continue to provide Managed Communication Services including VSAT technology and RigNet’s Gulf of Mexico 5GE network and the fleet-wide rollout of RigNet’s global multi-band LTE service. ...

Amplus Energy awarded marginal field re-evaluation contract in Angola

Amplus Energy Services has been awarded a multi-million-dollar contract to re-evaluate the development of marginal fields in Angola. The aim of the contract is to develop economically viable field development solutions for a major operator in Angola. ...

Colorado’s PDC Energy said to be in merger talks with rival SRC Energy

PDC Energy is in talks to combine with rival explorer SRC Energy, in a potential deal that would create a larger oil and gas player in Colorado, according to people familiar with the matter. ...

Oil trader sees demand growth slowing due to trade wars, disruption risks

Growth in global oil demand is slowing and won’t exceed 650,000 bpd this year before picking up pace up in 2020, according to Vitol Group’s chief executive officer. ...

Continental Resources loses $15 billion in market capitalization

Excessive spending without producing investor returns causes Continental to tumble 51%. ...

U.S. Democratic candidates demonize oil industry

Bernie Sanders says the industry is a criminal enterprise. Joe Biden is vowing to take action against it. ...

Dallas B2B marketing agency celebrates anniversary by supporting those with special needs

Triad B2B Agency of Dallas, Texas is celebrating its 25th anniversary with a series of community outreach activities and special communications initiatives. ...

EIA forecasts narrowing Brent, WTI spread on reduced pipeline constraints

In its current Short Term Energy Outlook, the U.S. Energy Information Administration anticipates a narrower differential between Brent and WTI crude prices for the rest of the year and into 2020. ...

DNV GL to call for offshore verification to move with the times at SPE Offshore Europe

Offshore verification needs to move with the times and improve its contribution to safety according to global risk management company, DNV GL. ...

Centurion wins work camp contract in Western Australia

Centurion announced that its Accommodation and Modular Solutions (AMS) segment has secured an ongoing multimillion dollar contract with a new customer in Western Australia. ...

Borr Drilling lands three jackup contract with PEMEX

Borr Drilling has secured an integrated services contract to provide three jackup rigs to PEMEX under its “Cluster 2” agreement. The first rig, the "Grid", has arrived on site and is currently commencing its contract, while the second rig, the "Gersemi", is expected to commence shortly thereafter. ...

Achilles launches 6,000 member oil and gas supplier network for Europe

Achilles Information, a supply chain risk and performance management provider, has launched the most comprehensive supplier network available for the oil and gas industry: Oil and Gas Europe. ...

Peterson expands Caribbean presence with new Repsol project

Energy logistics company Peterson has been awarded a major contract with Repsol Exploracion Guyana, S.A., selected as the main logistics contractor for the Carapa 1 exploration and drilling project, providing Repsol with integrated supply base operations management, logistics and pipe yard operations. ...

Shell taps Deep Down for Trinidad and Tobago umbilical support order

Deep Down, an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services announced today that it has received an order for umbilical support services directly from Shell Trinidad and Tobago. ...

Brunei Shell awards rig inspection contract to AqualisBraemar

Brunei Shell Petroleum Company has awarded AqualisBraemar a frame agreement to conduct rig inspection services for the operator, valid for three years with an option to extend the contract for additional periods of three times one year. ...

Oxy begins bond sale to fund Anadarko deal

Occidental Petroleum is selling bonds to help finance its $38 billion acquisition of Anadarko, as debt issuers show faith in Tuesday’s market rebound. ...

Norwegian wealth fund’s bid to divest oil stocks loses momentum

After revealing it wanted to dump all oil stocks in 2017, Norway’s $1.1 trillion wealth fund’s actual divestment could now be very small. ...

As shale drillers stumble, Big Oil says it can do Permian better

Exxon Mobil and Chevron aren’t fazed by the drilling mistakes and funding hurdles smaller shale producers are running into in the Permian basin. ...

Saipem to establish a spoolbase in the US Gulf of Mexico

The new facility will support the Saipem Constellation, the latest addition to the Saipem fleet, suitable for the installation of rigid and flexible pipes in ultra deep waters as well as for heavy lifts of up to 3,000 tons. ...

UK to Join U.S. in coalition to protect ships in Persian Gulf

The UK is “spearheading” an international mission to protect shipping in the Persian Gulf, which will see the Royal Navy work with the U.S. to protect vessels amid an ongoing confrontation with Iran. ...

Abrado wins California multi-well PandA contract from Chevron

Abrado Wellbore Services has secured a multi-million dollar contract from Chevron’s Environmental Management Company to support the plug and abandonment of more than 30 wells offshore California. ...

Capricorn Norge drills an Upper Jurassic duster offshore Norway

Capricorn Norge AS completed drilling the first exploration well in Norway’s production license 842, about 13 kilometers northeast of the Norne field. ...

Researcher says oil needs to fall below $20 to compete in transport’s future

Wind and solar power can produce seven times more useful energy for cars, dollar for dollar, than gasoline with oil prices near current levels, according to BNP Paribas SA. ...

TGS awarded five-year well data contract extension by BSEE

TGS has been awarded a five-year contract for Digital Well Log Data Processing with the BSEE. ...

Hexion announces in-basin resin coating partnership with Black Mountain Sand

The Oilfield Technology Group (OTG) of Hexion and Black Mountain Sand today announced their partnership created to provide in-basin production of resin-coated proppants. ...

BP can’t find a home for contaminated Russian crude

Russia’s contaminated oil crisis isn’t over yet -- at least not for the traders trying to find a home for the cargoes they unwittingly bought. ...

Big oil’s big bet on natural gas creates a big headache

The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But they’re taking a hit as prices tank. ...

Saudi Aramco cuts oil prices to Asia, raises rates in Europe and Mediterranean

Saudi Arabia, the world’s biggest oil exporter, lowered pricing for September sales of all crudes to Asia while raising prices to buyers in northwest Europe and the Mediterranean region. ...

Oil drops as demand fears overshadow Iranian tanker seizure

Oil resumed its decline as a sharp drop in the Chinese yuan compounded fears that a deepening trade war will depress demand. ...

Petronas signs Gabon’s first exploration permits in five years

Malaysia’s state-owned oil company has signed an agreement with Gabon for two exploration permits after the African country enacted a new oil law last month, the government said in a statement citing Noel Mboumba, Gabon’s petroleum minister. ...

U.S. Oil Giants Exxon, Chevron get boost from tax cut in Canada

A corporate tax rate cut in the oil-rich province of Alberta, boosted Exxon’s second-quarter profit by almost $500 million, according to a statement Friday. Chevron noted a $180 million non-cash tax benefit from the measure in its report. ...

Lagoon Water Solutions buys recycling facility from Continental Resources

Water midstream provider Lagoon Water Solutions closed on an $85 million purchase of Continental's eastern STACK water recycling facility, gathering system and three related disposal wells in Blaine County, Oklahoma. ...

Trendsetter Engineering and Intelligent Wellhead Systems form joint venture

Trendsetter Engineering and Intelligent Wellhead Systems announced the establishment of a joint venture to introduce new technology and services aimed at improving the safety and efficiency of offshore drilling, completion, intervention and abandonment operations. ...

Saipem Sonsub begins final tests on industry’s first underwater intervention drone

Saipem Sonsub has launched its Hydrone-R underwater intervention drone to start endurance and qualification tests prior to its commercialization by year’s end. ...

Oil market struggles to regain investor confidence after previous declines

West Texas Intermediate crude fell the most in 4 1/2 years on Thursday as President Donald Trump reignited demand worries with a threat of new tariffs on imports from China. ...

MODEC introduces two next-generation newbuild FPSO hulls

MODEC introduced two new built FPSO hulls, addressing lack of deck area and crude storage capacity common among typical designs based on converted oil tankers. ...

Diamond Offshore introduces big data analytics to BOP monitoring and testing

Diamond Offshore Drilling announced the launch of its Stack-View service, applying 24/7 real-time monitoring, data visualization, and advanced analytics to identify trends and detect anomalies in BOP performance across its rig fleet. ...

Oil industry has a millennial problem as talent pipeline trickles

Oil companies have a problem, and his name is Robert Paver. This 22-year-old graduate, along with his fellow students of earth sciences at the University of Oxford, should be natural recruits for an industry that has a long and lucrative history in the U.K. But instead of contemplating a career at an offshore driller, he’s planning to become a management consultant. ...

Chevron earnings jump on Permian output, Anadarko breakup fee

Chevron posted strong production growth from the Permian Basin combined with a stabilization in its refining operations to beat earnings estimates in the second quarter. ...

Pipelines make room to meet increased demand for Canadian crude

U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them. ...

Concho stock plummets 22% casting cloud over Permian

Stock closes at $75.97 for its largest one-day drop since 2008, wiping out $4.4 billion of market value. ...

Weatherford launches single-trip openhole cementing and sidetrack system

Weatherford has launched a single-trip openhole cementing sidetrack system capable of initiating sidetrack operations without the need of a cement plug. ...

Guyana, Bakken bets are paying off for Hess

Focusing on offshore Guyana and Bakken shale opportunities is paying off for Hess, who foresee significant production expansion in the coming years. ...

DOE authorizes LNG exports of up to 1.53 Bcfd at Mississippi liquefaction project

The DOE's Office of Fossil Energy approved exports of domestically produced LNG from the Gulf LNG Liquefaction Project located in Jackson County, Mississippi. ...

Trendsetter Vulcan Offshore deploys next generation wellhead fatigue mitigation system

Trendsetter Vulcan Offshore has contracted with independent oil and gas company Tamarind Resources to provide its next-generation wellhead fatigue mitigation systems for deployment offshore New Zealand. ...

Upcoming license rounds show great promise for Brazil, says ANP’s Kury

Recent resumption of exploration programs puts Brazil on track to be one of the world's leading oil producers over the next 10 years, said Felipe Kury, director of Brazil’s National Petroleum, Natural Gas and Biofuels Agency. ...

McDermott secures offshore EPCI contract from Saudi Aramco

McDermott International has been awarded a contract by Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) of a production deck module in Saudi Arabia's fields located offshore in the Arabian Gulf. ...

Transocean taps RigNet for rig analytics, data acquisition support across its fleet

RigNet has signed two multi-year agreements with Transocean to provide rig analytic applications through Intelie Live, the company’s real-time analytics platform, to help improve operational integrity and efficiency. ...

Energy Transition Hub among new features for SPE Offshore Europe 2019

A new Energy Transition Hub will feature at SPE Offshore Europe 2019 from 3-6 September, with exhibition and conference space dedicated to the evolution of the oil and gas industry to a low carbon future. ...

Shell invests in PowerNap subsea tie-back in Gulf of Mexico

Shell Offshore has elected to invest in its PowerNap deep-water project in the U.S. Gulf of Mexico, a subsea tie-back to the Shell-operated Olympus production hub. ...

OPEC production lowest since 2014 as U.S. squeeze on Iran continues

OPEC’s output, already at the lowest since 2014, slid again last month as U.S. sanctions took a further toll on exports from Iran. ...

Whiting shares drop, cuts staff and output target

Whiting shares dropped 23% on Thursday after it fired one-third of its workforce, scaled back its production target and posted quarterly loss. ...