Apache reports strong results from discoveries in Egypt's Western Desert

Apache Corp. has reported strong appraisal- and development-drilling results from Egypt following the discovery of two new oil fields in the Western Desert. More »

Sabine Oil says lenders may cut credit line significantly

Sabine Oil and Gas Corp., the exploration and production company that merged with Forest Oil Corp. last year, said its banks may cut its fully drawn $1 billion credit line after oil prices plunged. More »

Eni, Reliance ink PSCs for exploration offshore Myanmar

Eni and India's Reliance Industries have signed production sharing contracts (PSCs) for two blocks each, offshore Myanmar. Eni is partnering with with Petrovietnam and Reliance has a JV with the local Myanma Oil and Gas Enterprise. More »

Keppel FELS delivers eleventh jackup to Mexico

SINGAPORE -- Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine, has delivered a KFELS B Class jackup rig to Pemex. More »

Northern Offshore delays delivery of two new jackups

Northern Offshore has negotiated a nine-month delay in the delivery of two high specification jackups, Energy Engager and Energy Encounter, from a shipyard in China, the company reported Tuesday. More »

API urges BOEM not to cut already-restrictive offshore leasing plan

WASHINGTON -- The federal government’s proposal for future offshore oil and natural gas leasing is already too restrictive and should not be reduced any further, according to comments API submitted to the Bureau of Ocean Energy Management (BOEM) on Monday. More »

Rosneft focuses on Russian gas as Latin American prospects appear limited: GlobalData

Despite the recent Memorandum of Understanding between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating LNG projects in Russia, according to GlobalData. More »

Eni inks PSCs for exploration offshore Myanmar

Eni has signed two production sharing contracts (PSCs) for Blocks MD-02 and MD-04, offshore Myanmar. More »

Maersk Oil starts production from new platform in Danish North Sea

Maersk Oil has started production from the new unmanned platform Tyra Southeast-B, the company reported Tuesday. More »

McDermott wins subsea contract for Chevron's Jack and St. Malo expansion

McDermott International has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron U.S.A. Inc. to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. More »

BP cancels one rig contract, extends another, Seadrill Partners says

Seadrill Partners has received a notice of termination from BP Exploration and Production for the contract for the West Sirius, which will be effective after the semisubmersible completes its current well and demobilizes, which Seadrill Partners estimates to be by early May 2015. More »

VAALCO Energy strikes out offshore Angola

VAALCO Energy’s post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola, was drilled to a total vertical depth of approximately 1,829 m, the company confirmed Monday. The objective reservoir, the Mucanzo sand formation in the Pinda Group section, was found to be water-bearing and the well is in the process of being plugged and abandoned. More »

Rosneft focuses on Russian gas as Latin American prospects appear limited, GlobalData says

Despite the recent Memorandum of Understanding between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating LNG projects in Russia, according to GlobalData. More »

BNSF slows oil trains up to 30% to boost safety after accidents

BNSF Railway Co. is cutting the speed of oil-carrying trains in some urban areas to as slow as 35 miles per hour, a 30% reduction, to improve safety following crude-by-rail accidents this month. More »

Eni signs PSC for the exploration of two blocks offshore Myanmar

Eni, following its participation in the competitive International Bid Round launched by the Republic of the Union of Myanmar, has signed two Production Sharing Contracts (PSC) for offshore blocks MD-02 and MD-04. More »

Maersk Oil brings the new platform in Danish North Sea online

Maersk Oil has initiated production has started from the new unmanned platform Tyra Southeast-B, safely, on time and on budget. The platform is expected to add reserves of 50 MMboe over the next 30 years to Danish production. More »

Wood Group wins major Total contract

Wood Group has been awarded a five year, multi-million dollar contract by Total, which includes the option for two, one year extensions. More »

McDermott bags Chevron subsea installation contract in U.S. GoM

McDermott International has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron U.S. to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. More »

Seadrill Partners receives contract termination from BP for West Sirius

Seadrill Partners has received a notice of termination from BP for the contract for the semi-submersible drilling rig, West Sirius, which will be effective after having completed the current well and demobilization, which Seadrill Partners estimates to be by early May 2015. More »

EIG invests $1 billion in Breitburn for strategic acquisitions

Breitburn Energy Partners and EIG Global Energy Partners have announced definitive agreements, whereby Breitburn will sell $350 million of perpetual convertible preferred units and $650 million of senior secured notes. The funds will be used for future growth and strategic acquisitions. More »

Iran’s riches coveted by oil majors after decades of conflict

LONDON (Bloomberg) -- Outside the boardroom of BP Plc’s headquarters on London’s swanky St. James’s Square, a display case houses the geological data from Masjid-i-Solaiman, Iran’s first oil well. More »

Exxon Mobil starts production at Hadrian South in Gulf of Mexico

IRVING, Texas --Exxon Mobil Corporation has begun production at Hadrian South in the deepwater Gulf of Mexico. Daily gross production, from two wells, is expected to reach approximately 300 MMcfg and 3,000 bbl. More »

Saudis seen by Woodmac pricing oil to protect Asia market share

Saudi Arabia is seeking to protect its share of Asia’s oil market by keeping crude prices competitive with those of other suppliers, according to energy consultants Wood Mackenzie Ltd. More »

2H Offshore awarded Johan Sverdrup contract

2H Offshore, an Acteon company, has been awarded a contract by Statoil for tieback conductor, platform conductor and surface riser engineering analysis on Johan Sverdrup field in the Norwegian sector of the North Sea. More »

New Zealand offers 430,000 sq km in Block Offer 2015

New Zealand's Energy and Resources Minister, Simon Bridges, has launched Block Offer 2015, the country's annual tender for oil and gas exploration permits. More »

Aqualis Offshore completes heavy lift jackup move

Aqualis Offshore, part of Oslo-listed Aqualis ASA, has completed the marine warranty services for the dry transportation of the Valiant Driller jackup from Indonesia to India, where it will operate for ONGC. More »

Oil, rail industries develop crude-by-rail safety course for first responders

America’s oil and freight railroad industries have developed a new education module for first responders as part of a holistic effort to better prevent, mitigate and respond to derailments of trains carrying crude oil. More »

OMV names Wintershall’s Rainer Seele as new CEO

The supervisory board of OMV Aktiengesellschaft has appointed Rainer Seele as the new chairman of the executive board and CEO of OMV. Seele has accepted the appointment. More »

Mario Mehren to head Germany’s Wintershall

Mario Mehren, a member of the Board of Executive Directors of Wintershall responsible for EandP Russia, North Africa and South America, has been named president of BASF’s oil and gas division effective July 1, 2015, and in this function he will be head of BASF’s subsidiary Wintershall. More »

Statoil makes eighth discovery in Tanzania's Block 2

Statoil's Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania, the Stavanger-based company reported Monday. More »

Total completes $1 billion of onshore divestments in Nigerian blocks

Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern EandP, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total’s share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion. More »

Statoil makes its eighth discovery in block 2, offshore Tanzania

Statoil announced that the Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. More »

Oil speculators focused on glut miss surge as bombs hit Yemen

Speculators were the least bullish on crude in two years before prices surged as Saudi Arabia and its allies bombed rebels in Yemen, threatening supply disruptions in the largest oil-producing region. More »

Loyz Energy inks two MOUs with India’s Sun Petrochemicals with respect to its concessions

In a strategic move to manage its concession portfolio, Loyz Energy Limited has entered into two binding memorandum of understanding (MOUs) with Sun Petrochemicals Private Limited through its exploration and production division, Sun Oil and Natural Gas (SONG). More »

Petrobras said to start asset sale with fields in Argentina

BUENOS AIRES (Bloomberg) -- Petroleo Brasileiro SA, the state-controlled company at the center of Brazil’s biggest corruption scandal, agreed to sell oil and natural gas fields in southern Argentina to billionaire Eduardo Eurnekian’s Corporacion America, two people with knowledge of the deal said. More »

U.S. oil rigs drop for 16th straight week, Baker Hughes says

HOUSTON (Bloomberg) -- U.S. drillers targeting oil idled rigs for the 16th straight week, extending an unprecedented cutback in drilling, and dragging the total rig count down to the lowest level in more than five years. More »

Halliburton, Baker Hughes merger approved by stockholders

Halliburton Company announced Friday that its stockholders approved Halliburton’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes. More »

Schlumberger introduces coiled tubing real-time selective perforating, activation system

Schlumberger has announced the release of the ACTive OptiFIRE coiled tubing (CT) real-time selective perforating and activation system that enables perforating with CT fiber-optic real-time telemetry. More »

Schlumberger, Chevron Energy Technology sign software agreement

Schlumberger has announced the signing of a long-term software contract with Chevron Energy Technology Company (ETC), a division of Chevron U.S.A. More »

Polarled pipe-laying underway, Statoil says

The Solitaire pipe-laying vessel started the first stage of the Polarled installation project on Thursday, Statoil has reported. The 482-km long pipeline will transport gas from Aasta Hansteen field, in the Norwegian Sea, to Nyhamna, in western Norway. More »

Cray to deliver supercomputer to PGS

Cray Inc. has been awarded a contract to provide Petroleum Geo-Services (PGS) with a Cray XC40 supercomputer and a Cray Sonexion 2000 storage system. More »

Chevron plans to sell 50% of Caltex Australia for $3.6 billion

Chevron Corp. plans to sell its 50% stake in Caltex Australia Ltd. to institutional investors for about A$4.6 billion ($3.6 billion) as the second-biggest U.S. energy producer accelerates asset sales. More »

Chevron pulls out of Australian gas project with Beach Energy (1)

Chevron Corp. withdrew from a natural gas exploration venture in central Australia, as the second-biggest U.S. energy producer curtails spending. More »

Cnooc surprises with 6.6% gain in annual profit as peers slump

Cnooc, China’s biggest offshore explorer, reported a 6.6% percent increase in annual profit even as the plunge in crude prices hit explorers across the world. More »

Chevron pulls out of Australian gas project with Beach Energy

Chevron Corp. withdrew from a natural gas exploration venture in central Australia, as the second-biggest U.S. energy producer curtails spending. More »

Statoil to set world record with Polarled pipe-laying project

On Mar. 26, the Solitaire pipe-laying vessel initiated on the first stage of the Polarled installation project of the 482 km long pipeline that will transport gas from the Aasta Hansteen field in the Norwegian Sea to Nyhamna in western Norway. More »

Helix, Shell in deepwater well intervention semisubmersible contract extension

Helix Energy has entered into a new multi-year contract with Shell to provide well intervention services in the U.S. Gulf of Mexico utilizing Helix’s Q4000. More »

Statoil to drill wildcat well in PL 029B in North Sea

Statoil Petroleum has recieved a drilling permit from the Norwegian Petroleum Directorate for wildcat well 15/6-13 in PL 029B, near the Gina Krogh field in the central North Sea. More »

Cray to deliver one of the largest supercomputer in the industry to PGS

Cray Inc. has been awarded a significant contract to provide Petroleum Geo-Services (PGS) with a Cray XC40 supercomputer and a Cray Sonexion 2000 storage system. More »

Cray to deliver supercomputer and high-performance storage system to Petroleum Geo-Services

Cray Inc. has been awarded a significant contract to provide Petroleum Geo-Services (PGS) with a Cray XC40 supercomputer and a Cray Sonexion 2000 storage system. More »

Total, DNO keep pumping oil and gas in Yemen after airstrikes

Total and DNO said they continue to pump oil and natural gas in Yemen after Saudi Arabia and its allies bombed rebel targets in the nation. More »

SemGroup to build U.S. Gulf Coast pipeline system for Motiva refineries

TULSA -- SemGroup Corporation will construct, own and operate three new pipelines in Louisiana, collectively named the Maurepas Pipelines. More »

Russia sets terms for Schlumberger’s Eurasia Drilling bid amid sanctions

Schlumberger Ltd. must satisfy a list of conditions, in part linked to sanctions, to gain approval for its $1.7 billion bid to buy Russia’s largest oil driller. More »

Schlumberger introduces coiled tubing real-time multiset inflatable packer

Schlumberger has announced the release of the ACTive Straddle coiled tubing (CT) real-time multiset inflatable packer. More »

Norway has no plans to support oil prices by cutting production

Norway has no plans to reduce output to support crude prices after they plunged 50% in the last nine months. More »

Oil rises to 2-week high as Saudi Arabia bombs targets in Yemen

Oil climbed to the highest in more than two weeks in London as Saudi Arabia and its allies bombed rebel targets in Yemen, which is near the center of global energy trade. More »

Shell to cut staff, change working patterns in North Sea

Shell UK plans to reduce the number of staff and agency contractors who support the company’s UK North Sea operations by at least 250 in 2015. Shell will also introduce changes to UK North Sea offshore shift patterns. More »

Shell to reduce staff in North Sea; changes working patterns

Shell UK plans to reduce the number of staff and agency contractors who support the company’s UK North Sea operations by at least 250 in 2015. Shell will also introduce changes to UK North Sea offshore shift patterns. More »

PetroChina profit falls to lowest in 5 years on crude slump

PetroChina Co., the country’s biggest oil and gas producer, posted the lowest annual profit in five years as falling crude oil prices squeezed earnings. More »

Swiber gains momentum with $405.6 million new contracts

Swiber Holdings has clinched a total of $405.6 million for a series of contracts, including its latest $333 million contract for Engineering, Procurement, Installation and Construction (EPIC) services in India. More »

EMGS inks more 3D EM data sales agreements in Barents Sea

Electromagnetic Geoservices has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea. More »

Dolphin Geophysical sets new benchmark for seismic productivity

Dolphin Geophysical has just mobilised the 'world's largest floating object' by deploying a seismic spread of 12 streamers, 7,050 m in length with 150 m streamer separation, off the coast of Myanmar for Ophir Energy. More »

Schlumberger unit to pay $233 million in Iran, Sudan sanctions case

Schlumberger Oilfield Holdings Ltd., a wholly owned subsidiary of Schlumberger Ltd., has agreed to enter a guilty plea and to pay a $232,708,356 penalty to the U.S. for conspiring to violate the International Emergency Economic Powers Act by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan. More »

Petrobras discovers 200-m hydrocarbon column at Libra C1 extension well

The Libra consortium has finished drilling extension well C1. The drilling results confirmed a hydrocarbon column 200 m deep with good permeability and porosity. More »

API: DOE crude-by-rail report highlights importance of accident prevention

A U.S. Department of Energy (DOE) report on crude oil properties and transportation safety highlights the continued need for efforts to prevent more train derailments, said API Director of Midstream Robin Rorick. More »

ION expands West African data library with acquisition of NamibiaSPAN

ION Geophysical has announced the completion of the seismic acquisition stage of the company's NamibiaSPAN program, which extends the full length of Namibia's offshore continental margin. More »

Billionaire Fredriksen sails into rig storm of up to 3 years

More »

Lower 48 oil economics still robust, Wood Mackenzie says

Wood Mackenzie's breakeven analysis of more than 800 individual assets in the Lower 48 reveals dramatic variations in the viability of company asset bases and sub-plays. More »

Norway to investigate fire on-board Knarr field FPSO

Petroleum Safety Authority (PSA) Norway has decided to initiate an investigation following a fire involving the generation of fumes on the Petrojarl Knarr FPSO. More »

Chevron inks PSC to explore in Myanmar's Rakhine basin

Chevron's subsidiary, Unocal Myanmar Offshore, has entered into a PSC with Myanma Oil and Gas Enterprise to explore for oil and gas in the Rakhine basin. More »

Falling knife slashes shale dealmaking as buyers await bottom

When Whiting Petroleum Corp. put itself up for sale this month, the oil industry appeared on the brink of a deal surge that would dramatically redraw the energy landscape. More »

Lundin spuds appraisal well on Alta discovery in Barents Sea

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has commenced drilling of appraisal well 7220/11-2 in PL609. More »

Chevron's subsidiary inks PSC contract with MOGE, Myanmar

Chevron's subsidiary, Unocal Myanmar Offshore, has entered into a Production Sharing Contract (PSC) with Myanma Oil and Gas Enterprise (MOGE), the national oil and gas company, to explore for oil and gas in the Rakhine basin. More »

CandJ Energy and Nabors Industries complete combination transaction

CandJ Energy Services and Nabors Industries have completed the combination of CandJ with Nabors' completion and production services business. More »

NADL receives termination for jackup Energy Endeavor from Rosneft

Northern Offshore has announced that North Atlantic Drilling Company Ltd. (NADL) has received a cancellation notice for use of the Northern Offshore's jackup Energy Endeavor from Rosneft Oil as part of a multi-rig contract to provide drilling services in the Russian Artic commencing in the 2015 summer drilling season. More »

Turkish Petroleum expands its Paradigm software portfolio with Reverse Time Migration

Paradigm has announced that Turkish Petroleum (TP), the national oil company of the Republic of Turkey and a long-time Paradigm customer, has added Paradigm Reverse Time Migration (RTM) to its product portfolio. More »

Core Grouting Services completes pipeline-free span project in Trinidad, Tobago

Core Grouting Services, an Acteon group company, has successfully completed a pipeline-free span rectification project in Trinidad and Tobago. More »

Halliburton introduces CoilComm service

Halliburton’s Production Solutions business line has introduced the CoilComm service to help maximize well production and the success rates of coiled tubing well interventions. More »

Brazil to auction onshore oil fields to bolster ailing industry

RIO DE JANEIRO (Bloomberg) -- Brazil plans to auction onshore fields in the second half of the year to encourage foreign oil companies to remain active in the country, according to two government officials with direct knowledge of the matter. More »

Halliburton introduces EquiFlow OptiSteam flow control device

HOUSTON -- Halliburton’s Completion Tools business line has introduced the EquiFlow OptiSteam flow control device (FCD) for steam-assisted gravity drainage (SAGD) injectors. More »

Fugro takes delivery of survey vessel Fugro Americas

Fugro has taken delivery of the Fugro Americas, a new-build shallow draft survey vessel. More »

Gazprom Neft to conduct seismic survey in Iraqi Kurdistan

Gazprom Neft Middle East, the operator of Gazprom Neft’s projects in Iraqi Kurdistan, is to conduct a 2D seismic survey on the south-eastern section of the Halabja Block. More »

Chesapeake shaves $500 million from budget on low oil price

Chesapeake Energy Corp. has reduced its 2015 capital budget—including capitalized interest of $500 million—to $3.5–$4.0 billion for 2015, which is a $500 million reduction from its previous guidance of $4.0–$4.5 billion. More »

Goliat’s oil spill detection capabilities boosted by new agreement

International oil spill player Aptomar has entered into a service agreement with Hammerfest-based maritime electronics company O.M. Rønning Skipselektronikk to further enhance oil spill detection and combating capabilities at Eni Norge’s Goliat field. More »

No deal for shale driller Whiting as company sells shares

Whiting Petroleum Corp. has given up finding a buyer, saying instead it will sell as much as 40.3 million shares and raise $1.9 billion in debt to clean up its balance sheet. More »

Carl Icahn boosts stake in Chesapeake amid stock slump

Billionaire investor Carl Icahn increased his stake in U.S. shale gas producer Chesapeake Energy Corp. for the first time in two years amid the stock’s worst quarterly performance since 2008. More »

Murphy Oil strikes out in GoM, Perth basin

EL DORADO, Arkansas -- Murphy Oil Corp. has announced the results from its recent exploration drilling program. More »

Sterling Energy appoints Eskil Jersing as CEO

Sterling Energy has appointed Eskil Jersing as CEO and Director of Sterling Energy; the appointment is effective immediately. More »

Murphy Oil drills three dry wells in GoM and Perth basin

Murphy Oil Corporation has completed the exploration drilling of three wells; one in Gulf of Mexico and two in Perth basin. The wells have come up dry. More »

Statoil appoints Anders Opedal as COO

Statoil has appointed Anders Opedal as Executive V.P. and takes on a new position as COO in the corporate executive committee (CEC) on Apr. 1. More »

Cue Energy brings New Zealands' Maari MR6A development well online

Cue Energy has initiated production from the Maari MR6A development well, with an initial production rate of approximately 7,800 bopd. More »

Kiln Lane well dissappoints Europa Oil and Gas, Egdon

Europa Oil and Gas has announced the completion of drilling operations at the Kiln Lane-1 conventional exploration well on License PEDL 181 in Northeast Lincolnshire. The drilling was unsuccessful. More »

Oceaneering inks OCTP development contract with ENI and partners off West Africa

Oceaneering International, as part of a consortium with GE Oil and Gas, has secured a contract with ENI Ghana Exploration and Production and its partners, Vitol and GNPC, to supply equipment for the Offshore Cape Three Points (OCTP) block project development located off the coast of West Africa. More »

Europa Oil and Gas and Egdon reveal Kiln Lane well was not successful

Europa Oil and Gas plc announces the completion of drilling operations at the Kiln Lane-1 conventional exploration well (‘Kiln Lane’) on Licence PEDL 181 in Northeast Lincolnshire. The well spudded on Feb 23, 2015 and reached a total depth of 2,291 m on Mar 19, 2015. Sandstones in the Westphalian and Namurian intervals were penetrated in line with the pre-drill geological model and significant oil and gas shows were observed during drilling operations. However, wireline logging and subsequent petrophysical analysis indicates that the sandstones encountered are water wet. The well will therefore be plugged and abandoned and the site restored to agricultural use. More »

Oceaneering announces contract for OCTP development

Oceaneering International, Inc. announced that, as part of a consortium with GE Oil and Gas, it has secured a contract with ENI Ghana Exploration and Production Ltd. and its partners, Vitol and GNPC, to supply equipment for the Offshore Cape Three Points (OCTP) block project development located off the coast of West Africa. More »

Schramm names Bobby Bryan as CEO

Bobby Bryan has been named as the CEO of Schramm, effective immediately. More »

Schlumberger acquires full-azimuth multiclient surveys for deepwater GoM

Schlumberger has completed the acquisition of approximately 2,750 sq km of two new full-azimuth multiclient seismic surveys over the Garden Banks and Green Canyon areas in the Gulf of Mexico. More »

Smallest U.S. oil rig drop in three weeks shows retreat losing steam

The biggest retreat from U.S. oil fields on record is showing signs of subsiding. More »

Sempra Energy submits Port Arthur facilities for pre-file review with FERC

SAN DIEGO -- Sempra Energy’s subsidiary, Port Arthur LNG, has requested that the Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company's proposed Port Arthur LNG natural gas liquefaction and export facility in Port Arthur, Texas. More »

Sempra submits Port Arthur liquefaction-export facilities for pre-file review with FERC

SAN DIEGO -- Sempra Energy’s subsidiary, Port Arthur LNG, has requested that the Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company's proposed Port Arthur LNG natural gas liquefaction and export facility in Port Arthur, Texas. More »

Texas landmen left out of work as oil patch boom turns bust

Thousands of Texans who prowled county courthouses, poring over dusty deeds and maps to cash in on the biggest oil boom in decades, are seeing their work go bust. More »

Texas landmen left out of work as oil patch boom times go bust

AUSTIN, Texas (Bloomberg) -- Thousands of Texans who prowled county courthouses, poring over dusty deeds and maps to cash in on the biggest oil boom in decades, are seeing their work go bust. More »

FMC, Technip enter into JV to launch Forsys Subsea

FMC Technologies and Technip have signed an agreement to form an exclusive alliance and to launch Forsys Subsea, a 50/50 joint venture that will unite the skills and capabilities of the two companies. More »

Return to $100 oil seen unlikely by Saudis amid shale surge

Oil won’t rebound to $100/bbl because increased prices would draw more shale and other output from higher-cost producers to the market, said Mohammed al-Madi, Saudi Arabia’s governor to OPEC. More »

FMC Technologies, Technip enter into JV to launch Forsys Subsea

FMC Technologies and Technip have signed an agreement to form an exclusive alliance and to launch Forsys Subsea, a 50/50 JV that will unite the skills and capabilities of two subsea industry leaders. This alliance will redefine the way subsea fields are designed, delivered and maintained. More »

Schlumberger launches two new full-azimuth multiclient surveys in the U.S. GoM

Schlumberger has completed the acquisition of approximately 2,750 sq km of two new full-azimuth multiclient seismic surveys over the Garden Banks and Green Canyon areas in the Gulf of Mexico. More »

Woodside inks PSCs for Myanmar offshore acreage

Woodside has signed Production Sharing Contracts (PSCs) for offshore blocks AD-2, AD-5, A-4 and A-7, awarded to Woodside in the 2013 Myanmar Offshore Bid Round. More »

CandJ Energy Services approves merger with Nabors

At a special stockholder meeting held on Mar. 20, CandJ stockholders have approved the proposed merger contemplated by the Agreement and Plan of Merger, by and among CandJ, Nabors Industries, Nabors Red Lion, Nabors CJ Merger and CJ Holding. More »

CandJ Energy Services approve merger with Nabors

At a special stockholder meeting held on Mar. 20, CandJ stockholders have approved the proposed merger contemplated by the Agreement and Plan of Merger, by and among CandJ, Nabors Industries, Nabors Red Lion, Nabors CJ Merger and CJ Holding. More »

Southwestern Energy announces sale of conventional assets in East Texas and Arkoma

Southwestern Energy has executed a definitive agreement with a private buyer to sell Southwestern Energy’s conventional oil and gas assets located in East Texas and the Arkoma basin for approximately $218 million. More »

Tenaris launching next-generation coiled tubing

Tenaris is introducing its BlueCoil technology, the next generation of coiled tubing, with improved operational performance over conventional tubing. More »

Smallest U.S. oil rig drop in 3 weeks shows retreat losing steam

The biggest retreat from U.S. oil fields on record is showing signs of subsiding. More »

IPAA files lawsuit against Obama admin fracing rule

The Independent Petroleum Association of America (IPAA) and Western Energy Alliance have filed a lawsuit against the U.S. Secretary of the Interior and the U.S. Bureau of Land Management (BLM), challenging BLM’s issuance of regulations related to hydraulic fracturing on federal and Indian lands. More »

Interior releases final rule for fracing on public, tribal lands

U.S. Secretary of the Interior Sally Jewell has released final standards for hydraulic fracturing on public and American Indian lands. More »

API slams BLM’s new rules on hydraulic fracturing

WASHINGTON, D.C -- New regulations on hydraulic fracturing on federal lands, issued by the Department of Interior’s Bureau of Land Management, will stifle energy growth and lead to costly delays, the American Petroleum Institute (API) said. More »

Obama administration issues fracing rules for federal lands

WASHINGTON, D.C. (Bloomberg) -- The Obama administration issued the first federal regulations for fracing since the drilling technique fueled a domestic energy boom, requiring extensive disclosures of the chemicals used on public land. More »

Russian teapots pose next big threat to global oil prices

The next big threat to oil prices isn’t from OPEC or Bakken shale. It’s Russian samovars, or teapots. More »

OneSubsea delivers world's first subsea multiphase compressor to Statoil

OneSubsea, a Cameron and Schlumberger company, has delivered the world’s first subsea multiphase compressor to Statoil for Gullfaks South field in the North Sea. More »

Shell completes sale of OML18 in Nigeria

Shell Petroleum Development Company of Nigeria Limited (SPDC), a subsidiary of Royal Dutch Shell, has completed the sale of its 30% interest in OML 18 and related facilities in the Eastern Niger Delta. More »

Polarcus awarded 3D project offshore UK

Polarcus Limited has signed a Letter of Intent with an undisclosed client for a 3D marine seismic project on the UKCS utilizing Polarcus' RightBAND technique for broadband data acquisition. More »

Venari Resources expands GoM portfolio with 12 lease sale bids

Venari Resources was the high bidder on 12 deepwater blocks in the Central Gulf of Mexico offshore lease sale held on Mar. 18 by the Bureau of Ocean Energy Management in New Orleans. More »

Halliburton, Baker Hughes said to plan asset sales in April

Halliburton and Baker Hughes plan to begin seeking buyers next month for as much as $10 billion in assets that the oil-services companies need to sell in order to complete their merger, people with knowledge of the matter said. More »

Petrobras sets new pre-salt records in Santos, Campos basins offshore Brazil

Petrobras' output from the Santos and Campos basin pre-salt clusters has reached record levels in February. More »

Clariant acquires chemical storage and packaging facility in Broussard, La.

Clariant Oil Services has acquired a chemical storage and packaging facility in Broussard, Louisiana. More »

Global Maritime Deep Sea Mooring signs winches deal with GMO

Global Maritime Deep Sea Mooring unit has announced a $770,000 million (AU$ 1 million) investment with local manufacturer Green Monster Offshore (GMO) for two state-of-the art remote operated spooling winches to support offshore pre-lay mooring operations. More »

Ending oil export ban holds economic, geopolitical benefits for U.S.: Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska, has stressed the economic and national security benefits of ending the 1975 federal ban on exporting domestically produced crude oil at a hearing before the Senate Energy and Natural Resources Committee. More »

Woodside restarts production at its Pluto LNG Plant

Woodside has successfully restarted production at its Pluto LNG Plant. More »

Schlumberger launches new ultrahigh-temperature drilling technologies

Schlumberger has launched TeleScope ICE drilling service for ultrahigh-temperature measurements (MWD) and PowerDrive ICE ultrahigh-temperature rotary steerable system (RSS). More »

Halliburton sets coring record for exploratory well in presalt Santos basin

Halliburton was able to recover 71 large-diameter (1.5 in.) samples on just one of the runs, more than double the anticipated rate. More »

Pickens says ExxonMobil may buy Pioneer, Anadarko to add output

HOUSTON (Bloomberg) -- Oil investor T. Boone Pickens said Exxon Mobil Corp. may buy Pioneer Natural Resources Co. or Anadarko Petroleum Corp. to add output. More »

Repeal outdated oil export ban, ConocoPhillips CEO tells Senate committee

ConocoPhillips Chairman and CEO Ryan Lance testified Thursday to the benefits of lifting the outdated ban on U.S. crude oil exports. More »

Cost cutting must not hinder safety improvements, PSA Norway says

Dramatic changes may be affecting Norway’s oil and gas sector, but Petroleum Safety Authority (PSA) Norway director-general Anne Myhrvold makes it clear that savings must not affect continuous safety improvements. More »

Petrobras breaks water column record in Sergipe-Alagoas basin

More »

GustoMSC announces latest addition to CJ-series of jackups

The CJ54 is the latest addition to the successful series of the GustoMSC cantilever drilling jackups (CJ-series). Positioned in between the well-established CJ50 and CJ62, the CJ54 is a cost-effective rig for fields with water depths of up to 450 ft. More »

DEA names new general manager for Egyptian subsidiary

Dr. Hans-Hermann Ecke has been named as the new general manager of DEA Egypt, the Hamburg-headquartered company said Thursday. More »

CGG nets Anadarko contract for 3D survey offshore Colombia

PARIS -- CGG announced Thursday that it has been awarded a contract by a subsidiary of Anadarko Petroleum Corp. to acquire and process a 16,314-km2 3D seismic survey on the Caribbean coast offshore Colombia. More »

UK North Sea tax break a ‘very positive step,’ Enquest CEO says

Enquest Plc, a producer of oil and gas in the North Sea, said the UK’s decision to offer tax cuts to operators in the region was a “very positive step” that will help counter a collapse in prices for the fuel. More »

OPEC has no choice but to keep oil production target, Kuwait says

OPEC has no plans for an extraordinary meeting to discuss ways to shore up oil prices and doesn’t have a choice but to keep its crude production unchanged to maintain market share, Kuwait Oil Minister Ali Al-Omair said. More »

ABB inaugurates new level measurement products factory in Baton Rouge, La.

ABB has inaugurated its new 75,000 sq ft level measurement products factory, located in Baton Rouge, Louisiana. More »

Shell, Eni making no progress on Nigeria oil spills: Amnesty

Royal Dutch Shell is making no progress curbing oil spills in Nigeria and Eni’s operations in the West African country are out of control, according to Amnesty International. More »

Fugro enhances offshore application's accuracy with G2+ positioning service

Fugro has introduced a further advance in the field of GNSS augmentation with its high accuracy G2+ service, designed to benefit offshore operators around the globe who require positioning and measurement accuracy at centimeter level. More »

ABB inaugurates new level measurement products factory in Baton Rouge, U.S.

ABB has inaugurated its new 75,000 sq ft level measurement products factory, located in Baton Rouge, Louisiana. More »

OFS Portal names Christian Welsh as CEO

The Board of OFS Portal has appointed Christian Welsh as CEO, effective from Mar. 23, 2015. Also, William Le Sage has been appointed as the Chairman Emeritus. More »

Furgo enhances offshore application's accuracy with G2+ positioning service

Fugro has introduced a further advance in the field of GNSS augmentation with its high accuracy G2+ service, designed to benefit offshore operators around the globe who require positioning and measurement accuracy at centimeter level. More »

CGG GeoSoftware advances its portfolio with VelPro

CGG GeoSoftware has further enhanced its advanced geoscience software portfolio by acquiring the rights to the VelPro velocity modeling and depth conversion product from In-Depth Solutions. More »

Oil producers face skeptical Congress in drive to end export ban

WASHINGTON, D.C. (Bloomberg) -- Coming into this year, it seemed that the time was right to overturn a ban on exporting U.S. crude oil: Republicans controlled Congress, production was nearing an all- time high and gasoline was falling toward $2/gal. More »

Sonardyne Fusion 6G chosen for Moho Nord field development

YATELEY, United Kingdom -- Sonardyne International Ltd. has been awarded a multi-million pound contract by UTEC, an Acteon company, to supply Fusion 6G acoustic positioning technology for the Moho Nord subsea project, 75 km off the coast of Congo. More »

J2 Subsea launches wireless, seven-function rate manipulator control system

ABERDEEN -- J2 Subsea, an Acteon company, has launched an Xbox 360 wireless controller for a field-proven intelligent valve pack (iVP). More »

Central Gulf of Mexico lease sale yields $539 million in high bids

The U.S. Department of the Interior’s Bureau of Ocean Energy Management held a lease sale Wednesday for the Central Gulf of Mexico that drew $538,780,056 in high bids for tracts on the U.S. Outer Continental Shelf offshore Louisiana, Mississippi and Alabama. More »

Oil supplies at record in Cushing signal lower U.S. prices

Oil supplies at Cushing, Oklahoma, the delivery point for U.S. futures contracts, surged to a record last week, fueling speculation that prices already at a six-year low will fall further as the nation’s storage tanks fill up. More »

EMGC 2015: Industry experts call for clarity on Eastern Med trade laws

NICOSIA, Cyprus -- During the Day 1 lunch presentation at EMGC 2015, Bill R. Alashqar, Managing Director of US Independents for GE Oil and Gas, shared his perspective on the power of networks globally and in the U.S. More »

EMGC 2015: Gas leaders examine roles of Egypt, Cyprus in future trade

NICOSIA, Cyprus -- Gulf Publishing Company opened its third annual Eastern Mediterranean Gas Conference (EMGC) with a welcome from John Royall, President of Gulf Publishing Company. More »

Gulf Keystone resumes output at Kurdistan’s Shaikan field

Gulf Keystone, operator of Shaikan field in the Kurdistan Region of Iraq, has resumed production and truck loading operations at both its production facilities (PF-1 and -2), in line with the pre-payment of $26 million gross received for future Shaikan crude oil sales on Feb. 25. More »

Statoil plans four wells in Russia amid sanctions

Statoil plans to drill four wells in Russia with state oil company OAO Rosneft, showing Norway’s biggest energy producer is deepening its involvement in the country against the backdrop of international sanctions. More »

Saudi crude exports in January reached highest in 11 months

Saudi Arabia’s crude oil exports rose 7.8% in January to the highest level in 11 months, according to the Joint Organisations Data Initiative. More »

Statoil hits gas near Aasta Hansteen field

STAVANGER, Norway -- Statoil Petroleum, operator of production license 218, is in the process of completing the drilling of wildcat well 6706/12-2. More »

Statoil bags new license offshore Indonesia

Statoil was awarded new exploration acreage through the Aru Trough I license offshore Indonesia. More »

BG Group brings North Sea's Knarr field online

READING, United Kingdom -- BG Group announced Wednesday that the Petrojarl Knarr FPSO vessel had started production from Knarr oil field in the North Sea, offshore Norway. More »

Mubadala Petroleum to evaluate hydrocarbon potential offshore Morocco

Mubadala Petroleum has signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to carry out an evaluation of the hydrocarbon potential of a large area offshore Morocco’s Mediterranean coast. More »

BG Group brings Norway's Knarr field online

BG Group has announced the Petrojarl Knarr FPSO vessel had started production from the Knarr oil field in the North Sea, offshore Norway. More »

Wintershall launches first own-operated exploration well in Argentina

Wintershall believes that Argentina has potential. Alongside the U.S., Argentina is one of the most important growth regions in the field of unconventional oil and gas production. More »

Quicksilver Resources to restructure via Chapter 11 filing

Quicksilver Resources has announced that the company and its U.S. subsidiaries have each filed a voluntary petition under chapter 11 as the first step in a financial restructuring. More »

Schlumberger releases new ultrahigh-temperature drilling technologies

LONDON -- Schlumberger has launched its TeleScope ICE ultrahigh-temperature MWD service, and its PowerDrive ICE ultrahigh-temperature rotary steerable system (RSS). More »

North Sea seeks help as investment slumps

LONDON (Bloomberg) -- The North Sea, which brought upheaval to global oil markets in the 1980s just as shale has in this decade, is desperately seeking tax relief in Wednesday’s British budget. More »

Tourmaline CEO hunts for energy deals as big rivals dump assets

CALGARY (Bloomberg) -- Mike Rose started Tourmaline Oil Corp., now Canada’s third-largest natural gas producer, by scooping up land the last time energy companies were in a slump. Seven years on, he’s at it again. More »

Poland may have more tight gas than proven conventional reserves

WARSAW (Bloomberg) -- Poland’s estimated recoverable reserves of so-called tight gas are probably higher than its proven conventional deposits of the fuel, according to the Polish Geological Institute. More »

Nexen to cut about 400 jobs in response to oil slump

CALGARY, Alberta -- Nexen Energy, a wholly owned subsidiary of China’s CNOOC, has announced organizational changes that will reduce the company’s workforce by about 400 employees. More »

Nexen to cut about 400 jobs on oil slump

Nexen Energy ULC has announced organizational changes that will reduce its North American workforce by approximately 340 employees. Nexen UK has also initiated a consultation process to adjust its staffing levels by approximately 60 employees. More »

NewAge assumes operatorship of Etinde field, offshore Cameroon

LONDON -- NewAge (African Global Energy) Ltd. has taken over operatorship, from Euroil (a subsidiary of Bowleven plc), of the Etinde Exploitation Authorization Area, formerly Block MLHP7, offshore Limbe in southwest Cameroon. More »

Archer’s modular rig starts PandA work at Statoil’s Heimdal platform

Archer has commenced operations to permanently plug and abandon (PPandA) 12 gas wells on Statoil’s Heimdal platform in the Norwegian North Sea. More »

Lundin's Gemini wildcat disappoints offshore Norway

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, operator of PL338C, has completed the drilling of wildcat well 16/1-24. The well is dry. More »

JDR expands service footprint in West Africa

JDR, a provider of technology connecting the offshore energy industry, has expanded its footprint by establishing a new service and maintenance facility in Port Harcourt and Lagos, Nigeria in partnership with Royal Niger Emerging Technologies. More »

API urges Obama admin to keep existing ozone standard

The Obama administration should keep the current ozone standards of 75 parts per billion, which are not only the strictest standards ever imposed; they have yet to be fully implemented, API Senior Director of Regulatory and Scientific Affairs Howard Feldman told reporters in a conference call Monday to preview API’s comments to EPA. More »

KrisEnergy begins drilling at Rossukon-2 exploration well, Gulf of Thailand

KrisEnergy Ltd. has announced that the Key Gibraltar jack-up rig has commenced drilling of the Rossukon-2 exploration well in G6/48 in the Gulf of Thailand, where the Rossukon oil accumulation was discovered in 2009. More »

MicroSeismic engaged for seismicity monitoring program in British Columbia

MicroSeismic has been engaged by a major drilling operator in British Columbia to help strengthen its seismicity monitoring (SM) program. More »

Oil trades near 6-year low as U.S. supplies seen worsening glut

Oil traded near the lowest price in six years before U.S. government data forecast to show that crude inventories in the world’s biggest consumer extended a record high. More »

Iran can add million barrels of oil a day if sanctions halt

Iran could raise oil exports by 1 MMbopd without international sanctions, its oil minister said as talks resumed with the U.S. over the nation’s nuclear program. More »

MEO confirms Beehive prospect farm-out at 30% participating interest

MEO Australia Ltd.'s wholly owned subsidiary has been formally notified by the international exploration company (the Farminee) that it has received final board approval to proceed with the exercise of its option to farm into Beehive prospect, located in WA-488-P off the north coast of Western Australia. More »

MEO confrims Beehive prospect farm-out at 30% participating interest

MEO Australia Ltd.'s wholly owned subsidiary has been formally notified by the international exploration company (the Farminee) that it has received final board approval to proceed with the exercise of its option to farm into Beehive prospect, located in WA-488-P off the north coast of Western Australia. More »

Algeria seeks global oil producers’ accord to halt price decline

Algeria is seeking to coordinate a global response from oil-producing nations to tumbling prices, Algeria Press Service reported, citing Energy Minister Youcef Yousfi. Crude fell to a six-year low in New York on Monday. More »

Lundin drills dust in Gemini exploration well, offshore Norway

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, operator of PL338C, has completed the drilling of wildcat well 16/1-24. The well is dry. More »

GE launches global research, technology innovation and manufacturing in Saudi Arabia

GE has announced $100 million investment in new programs that will further the company’s localization efforts, build innovation capacity, and create jobs in advanced manufacturing and software analytics. More »

NUTECH signs alliance with UKOG

NUTECH has signed an alliance and consulting services agreement with London listed UK Oil and Gas Investments (UKOG). More »

Heatric wins Bergading heat exchanger contract

Heatric Ltd. has been awarded a contract to supply its unique printed circuit heat exchangers (PCHEs) for the Bergading Central Processing Platform (CPP) in the North Malay basin, Malaysia. More »

JDR expands service footprint in Africa

JDR, a provider of technology connecting the offshore energy industry, has expanded its footprint by establishing a new service and maintenance facility in Port Harcourt and Lagos, Nigeria in partnership with Royal Niger Emerging Technologies. More »

Nexen chooses AGSL software for Golden Eagle Project

Asset Guardian Solutions Ltd. (AGSL) has been awarded a contract by Nexen Petroleum UK Ltd., a wholly owned subsidiary of CNOOC Ltd. to protect and improve management of process control software. More »

Fire extinguished on drillship in Gulf of Mexico

HOUSTON -- A fire on Seadrill’s West Neptune drillship, operating in the Gulf of Mexico, has been extinguished. More »

Anadarko cancels contract for Belford Dolphin drillship

Dolphin Drilling, a subsidiary of Fred. Olsen Energy, has received a termination for convenience notice from Anadarko Petroleum Corp. for the contract for the Belford Dolphin drillship. More »

Platform P-61 starts up at Papa Terra field, Petrobras says

Petrobras has announced the start-up of platform P-61 in Papa Terra field, in the southern tip of the Campos basin, 110 km off the coast of Brazil and at a water depth ranging from 400 m to 1,400 m. More »

Gulf of Mexico environment returning to pre-Macondo conditions, report finds

In the five years since the Deepwater Horizon oil spill, scientific data and studies are showing that the Gulf environment is returning to its baseline condition, according to a new report BP released Monday. More »

3D study charts the size, shape of North Sea workers

The changing shape of North Sea offshore workers over the last three decades is revealed in the findings of a ground-breaking high-tech study just concluded in Aberdeen. More »

Eni signs framework agreement to develop Egypt's oil and gas resources

The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, has signed with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the country, while preserving the return of Eni’s investments. More »

Woodside shuts in Pluto LNG after cyclone sets rig adrift

Woodside has temporarily shut-in production at its Pluto LNG Plant in Western Australia, the company announced Monday. More »

CONSOL revises 2015 budget downwards

CONSOL Energy has announced a revised 2015 EandP capital expenditure forecast of $920 million, excluding business development, permitting, and land acquisitions, which is a decrease from the initial $1.0 billion EandP capital plan announced in January. More »

GE nets $850-million order for Ghana’s Offshore Cape Three Points Block

GE has announced the booking of an $850 million order across its oil and gas business for the supply of equipment to the Offshore Cape Three Points (OCTP) Block, Ghana. More »

ABB wins $155 million order to power Johan Sverdrup

ABB has won an order worth $155 million from Norway’s Statoil to supply systems and equipment to two HVDC converter stations linking the recently discovered Johan Sverdrup offshore field with the onshore grid. More »

Italy’s Eni reports success in Indonesia, Libya

Eni has completed post-drilling studies on the Merakes-1 gas find, in Indonesia’s deepwater East Sepinggan Block, which indicate significant upside gas potential. Eni is the operator of the block with an 85% interest. More »

Rosneft terminates West Navigator contract with NADL

North Atlantic Drilling Ltd. (NADL) has received a notice of termination from Rosneft of the service order for the West Navigator in connection with the Framework Agreement. More »

Statoil inks contract with ABB for power supply from shore

Statoil, on behalf of the Johan Sverdrup partnership, has awarded a contract to ABB for land-based power supply to phase 1 of the Johan Sverdrup field development. More »

Total spuds Shango exploration well in Norwegian North Sea

ABERDEEN, United Kingdom -- Total EandP Norge has spud the Shango exploration well, 25/6-5S, in the Norwegian North Sea, co-venturer Faroe Petroleum has reported. More »

Eni signs framework agreement for the development of Egypt's oil and gas resources

ROME, Italy -- The Egyptian Minister of Petroleum and Mineral Resources, Sherif Ismail, signed today with Eni’s CEO, Claudio Descalzi, a Head of Agreement aimed at the development of the oil and gas resources of the country while preserving the return of Eni’s investments. More »

Rosneft terminates West Navigator service for North Atlantic Drilling

North Atlantic Drilling Ltd. (NADL) has received a notice of termination from Rosneft of the service order for the West Navigator in connection with the Framework Agreement. More »

Total spuds Shango exploration well in the Norwegian North Sea

Faroe Petroleum has announced that spudding of the Shango exploration well 25/6-5S, operated by Total EandP Norge, in the Norwegian North Sea has begun. More »

Oil slumps to six-year low as U.S. production seen filling tanks

MELBOURNE (Bloomberg) -- Oil dropped to the lowest intraday price since March 2009 amid speculation that record U.S. crude supply may start to strain the country’s storage capacity. More »

Saudi Oil adviser sees prices firmer on stronger demand

RIYADH (Bloomberg) -- Global crude use is recovering, and prices are steadier as demand matches supply, the senior adviser to Saudi Arabia’s oil minister said. More »

Exxon CEO calls for U.S. policy reform, end to oil export ban

The U.S. government needs to adjust its energy policies to ensure that America can realize all the benefits of the new era of energy abundance, Rex W. Tillerson, chairman and CEO of Exxon Mobil Corp. said Thursday. More »

Whiting draws acquisition interest from Exxon, Continental Resources

Whiting Petroleum, the North Dakota oil explorer, has attracted interest from Exxon Mobil and Continental Resources as it explores a sale of the entire company, people with knowledge of the situation said. More »

U.S. Embassy warns of plot targeting oil workers in Saudi Arabia

U.S. oil workers operating in the eastern province of Saudi Arabia may be targets for kidnapping or other attacks, according to a warning issued Friday by the U.S. Embassy in Riyadh. More »

U.S. oil rigs slide for 14th straight week, dropping to 866

U.S. oil explorers idled rigs targeting oil for the 14th straight week, prolonging the biggest retrenchment in drilling on record. More »

Statoil awards facility services contract to Coor

Statoil has awarded the contract for offshore facility services on Statfjord and Snorre fields to Coor Service Management, Statoil announced Friday. More »

New Mexico blast kills one oil worker, injures second

An oilfield worker has been killed and another injured following an explosion at a site in southeastern New Mexico on Wednesday. More »

Chariot completes seismic survey offshore Namibia

Chariot Oil and Gas Limited has completed its 2D seismic survey in its Central Blocks 2312 and 2412A offshore Namibia, in conjunction with its partners AziNam (20%), NAMCOR (10%, carried interest) and Ignitus (5%, carried interest). More »

Exxon CEO in call for U.S. policy reform, end to oil export ban

The U.S. government needs to adjust its energy policies to ensure that America can realize all the benefits of the new era of energy abundance, Rex W. Tillerson, chairman and CEO of Exxon Mobil Corp. said Thursday. More »

Tourmaline Oil consolidates Deep basin assets

Tourmaline Oil has entered into a transaction to acquire Perpetual Energy's interests in the West Edson area of the Alberta Deep basin. The interests include Perpetual's land interests, production, reserves and facilities that are currently joint with Tourmaline. More »

Buzzard soars high marking 500 MMbbl of production

Nexen Petroleum, a subsidiary of CNOOC, has announced that Buzzard field has passed a significant landmark by producing its 500 millionth barrel of oil. More »

CGG open to Technip partnership after spurning takeover approach

CGG CEO Jean-Georges Malcor said he would welcome a commercial partnership deal for seismic oil surveys with Technip, after spurning a takeover approach from the French oil-services provider four months ago. More »

Tourmaline Oil consolidates Perpetual Energy's Deep basin assets for $256.5 million

Tourmaline Oil has entered into a transaction to acquire Perpetual Energy's interests in the West Edson area of the Alberta Deep basin. More »

IEA sees China, India filling strategic reserves with cheap oil

China and India are set to fill up their strategic petroleum reserves this year, taking advantage of lower oil prices, according to the International Energy Agency. More »

EMGS inks 3D EM data sales agreement in Barents Sea

Electromagnetic Geoservices (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea. More »

Buzzard soars high marking 500 million barrels production

Nexen Petroleum, a subsidiary of CNOOC has announced that the Buzzard field has passed a truly significant landmark by producing its 500 millionth barrel of oil. More »

OMV to drill well in PL537 in Barents Sea

OMV Norge has received a consent from the Petroleum Safety Authority (PSA) Norway to drill a well 7324/8-2 Bjaaland in PL537, located in the Barents Sea. More »

Oil CEOs said to ask Obama administration to lift export ban

About a dozen U.S. drilling executives, including ConocoPhillips CEO Ryan Lance, were in Washington this week trying to persuade White House officials and lawmakers to lift the 40-year ban on U.S. oil exports, according to two people familiar with the meetings. More »

Texas LNG starts talks with customers in Eastern Europe, Asia

Texas LNG, a closely held company planning a $1.3 billion liquefied natural gas project in the U.S., has started talks with potential customers, targeting companies in Eastern Europe, Latin America and Asia. More »

Mexico cuts production and reserve forecasts after prices slid

Mexico’s National Hydrocarbons Commission lowered the country’s estimates for proven oil reserves and state-run Petroleos Mexicanos cut its 2015 production forecast after crude prices collapsed and its budget was reduced. More »

Oilfield safety a concern as companies cut costs during downturn

HOUSTON (Bloomberg) -- A deadly oil well explosion in Texas’s Permian Basin this week offers a cautionary note of the industry’s challenges as companies cut costs during a market downturn. More »

Petrobras starts early production system at Buzios field

Petrobras started up its early production system in the Santos basin’s Buzios field on Tuesday. More »

Petrobras starts up early production system at Buzios field

Petrobras started up its early production system in the Santos basin’s Buzios field on Tuesday. More »

Exxon resumes drilling at Alaska’s Point Thomson

Exxon Mobil has resumed drilling at Point Thomson on Alaska’s North Slope as construction continues toward bringing the initial production system online. More »

Drilling halted at North Sea’s Veslefrikk field, Statoil says

The license partners have decided to temporarily halt drilling on Veslefrikk field in the North Sea, Statoil said Thursday. More »

GDF Suez announces Central North Sea oil discovery

GDF Suez EandP UK Ltd. and its co-venturers announced a new discovery in the UK Central North Sea on Thursday. More »

Statoil halts drilling at North Sea’s Veslefrikk field

The license partners have decided to temporarily halt drilling on Veslefrikk field in the North Sea, Statoil said Thursday. More »

Iraq talking with oil companies on proposed contract changes

Iraq is in talks with oil companies about possible changes in production contracts to create incentives for companies if the price of crude rises and shield government revenue if it falls, Oil Minister Adel Abdul Mahdi said. More »

Ferguson Group expands fleet size in Malaysia

The Ferguson Group Singapore—global specialists in the provision of offshore DNV 2.7-1/EN12079 containers, tanks, baskets, reefers, workspace modules and accommodation solutions—is meeting the market requirements with further investment in its SE Asia fleet. More »

DNV GL calls for collaboration over Arctic emergency response, rescue strategies

As offshore field developments in the North and Norwegian Seas face maturity, operators on the Norwegian Continental Shelf (NCS) are looking to the more remote areas of the Barents Sea for further development. More »

Sanchez Production Partners announces departure of president, CEO

HOUSTON -- Sanchez Production Partners (SPP) has announced that Stephen R. Brunner, SPP’s President and CEO, left the partnership on Wednesday. More »

DOF Subsea wins Chevron IMR contract

Chevron Australia has awarded DOF Subsea Asia Pacific a three years Master Services Agreement, IMR contract to work on projects on the Australian North West Shelf. More »

MCP to build world’s largest 4G network at sea for Statoil

Statoil has signed a six years contract with Maritime Communications Partner (MCP) to deploy and operate their high speed 4G-network on the Norwegian Continental Shelf (NCS). More »

Husky Energy brings Alberta's Sunrise Energy Project online

CALGARY, Canada -- Husky Energy has started oil production at the Sunrise Energy Project in northern Alberta. More »

Wellsite Rental names Nicole Hover as mid-continent Sales Manager

Wellsite Rental Services has named Nicole Hover as Sales Manager for its mid-continent region. More »

Three workers killed in Permian wellsite explosion

Three oilfield workers were killed after an explosion early Tuesday morning at a West Texas well site owned by Parsley Energy Inc. More »

Exxon’s Baytown refinery reduces rates; ship channel section remains shut

HOUSTON (Bloomberg) -- Exxon Mobil Corp. cut processing rates at its Baytown, Texas, refinery due to vessel traffic delays along the Houston Ship Channel as a stretch of the largest U.S. export gateway was shut for a third day following a crash. More »

Exelon explores development of Texas LNG export terminal

Annova LNG filed a request with the Federal Energy Regulatory Commission (FERC) Wednesday to initiate a review of the potential development of a mid-scale natural gas liquefaction and transfer facility at the Port of Brownsville, Texas. More »

Russia to keep oil output steady to 2035 despite price drop

MOSCOW (Bloomberg) -- Russia plans to maintain oil output at current levels for the next two decades, Energy Minister Alexander Novak said, shrugging off sanctions and the slump in crude prices. More »

Crude oil slides to five-week low as U.S. supply glut expands

NEW YORK (Bloomberg) -- Crude oil slumped to a five-week low on the morning of March 11 in New York after a government report showed U.S. inventories rose for a ninth week amid rising production. More »

Leviathan partners says Palestine Power may cancel gas deal

TEL AVIV -- Palestine Power Generation Co. may cancel a deal to buy gas from Israel’s largest offshore field due to regulatory and development delays, the partners in the Leviathan field said in a filing on Wednesday. More »

Gazpromneft Orenburg spuds wildcat in Kuvayskoye license area

Gazpromneft Orenburg has begun geological prospecting in the Kuvayskoye area. More »

Wood Mackenzie assesses shallow-water opportunities in Mexico's Round One

New analysis by Wood Mackenzie looks at Mexico's Round One shallow water opportunities, a licensing round that includes nine shallow-water fields with a total of 356 MMboe of 2P reserves. These fields, which have not yet been put into production, are organized in five different contractual areas within the Salinas Sureste basin. More »

Antelope Oil Tool launches new cementation centralizer

Antelope Oil Tool has developed the CentraMax series, a unique centralizer design that provides a solution to enhance standoff and efficiency in cementing operations. More »

Cairn Energy disputes $1.6 billion Indian tax order

Cairn Energy has instructed counsel to file a Notice of Dispute under the UK-India Investment Treaty in order to protect its legal position and shareholder interests having received a draft assessment order from the Indian Income Tax Department. More »

New Guinea Energy sells its 50% interest in PPL269 to Santos

New Guinea Energy's wholly owned subsidiary, Kirkland Ltd., has completed the sale of its 50% interest in PPL269 located in Papua New Guinea to Barracuda Ltd., a subsidiary of Santos Ltd. More »

Azonto Petroleum abandons Accra Block offshore Ghana

Azonto Petroleum has decided not to continue with its deepwater exploration acreage in the Accra Block offshore Ghana. More »

Shale on sale as oil crash tilting seller markets to buyers

A decision by Whiting Petroleum, the largest producer in North Dakota’s Bakken shale basin, to put itself up for sale looks to be the first tremor in a potential wave of consolidation as $50-a-barrel prices undercut companies with heavy debt and high costs. More »

Azonto Petroleum abandons offshore Accra Block in Ghana

LONDON -- Azonto Petroleum has decided not to continue with its deepwater exploration acreage in the offshore Accra Block in Ghana. More »

Nam Cheong sells two vessels for $58 million

Nam Cheong Ltd, a global offshore marine player and an OSV builder, has sold two vessels worth approximately $58 million to two repeat customers. More »

Cairn Energy sees 50% lower rig cost sustaining Senegal drilling

Cairn Energy Plc expects a slump by half in the cost of oil rigs to sustain the UK producer’s exploration in Senegal even after crude prices sank in previous months. More »

Chevron accelerating asset sales to $15 billion on oil slide

Chevron Corp. will increase asset sales by 50% to $15 billion and curtail new investment for the next two years after plunging oil prices squeezed cash flow for the second-biggest U.S. energy producer. More »

Proppant market exceeds 135 billion lb: industry survey

HOUSTON -- PropTester, Inc. and KELRIK, LLC released the 2014 Proppant Market Report (PMR), a detailed overview of the global proppant market, which showed that the industry supplied over 135 billion lb of sand, ceramic, and resin coated proppants in 2014, a 50% increase over 2013. More »

Oil Search concludes record-breaking survey in Kurdistan

Oil Search Limited and Wireless Seismic announced Tuesday that in December, following seven months of continuous operations, Asian Oilfield Services (ASIAN) completed a large 3D seismic survey over the Taza Block in the Kurdistan Region of Iraq using Wireless Seismic’s real-time, radio-based RT System 2 seismic data acquisition system. More »

U.S. cuts 2015 WTI forecast as oil production rises

The Energy Information Administration reduced its 2015 forecast for West Texas Intermediate oil prices as production is poised to rise further. More »

Rio Grande LNG doubles site size, completes pre-FEED

NextDecade, LLC has signed an option-to-lease agreement with the Port of Brownsville, Texas, that will expand the company’s site to 1,000 acres for its proposed Rio Grande Liquefied Natural Gas (RGLNG) export terminal, doubling its initial agreement. More »

Ineos to acquire shares of UK shale gas licenses from IGas

LONDON (Bloomberg) -- Ineos plans to acquire stakes of at least 50% in seven shale gas licenses in northwest England for 30 million pounds ($45 million) as it looks tap unexploited reserves and get cheaper feedstock for its petrochemical plants. More »

TAG Oil's founder and chairman named interim CEO

Canadian-based, New Zealand oil and gas producer TAG Oil has announced that Alex Guidi, the company's chairman and founder, has been appointed interim CEO. More »

OPEC seen by Attiyah keeping oil policy unless others cut output

The Organization of Petroleum Exporting Countries won’t change policy at its next meeting unless other producers cut first, Qatar’s former energy minister said. More »

Beach Energy reports Western Flank oil discovery

Beach Energy has reported a new Birkhead formation oil discovery at Stanleys-1 in PRL 171 and provided initial results from the first development well of the second Bauer field pad drilling campaign. More »

RAK Petroleum reports discovery offshore Côte d'Ivoire

RAK Petroleum announced Monday that the Marlin North-1 well drilled by Foxtrot International LDC offshore Côte d'Ivoire flowed gas and oil from the Turonian and Lower Senonian intervals, neither of which had previously tested hydrocarbons on Block CI-27. More »

Wintershall, ADNOC present drill core to Germany’s Economics Minister

Wintershall and its partner ADNOC have presented the German Federal Minister of Economic Affairs, Sigmar Gabriel, in Abu Dhabi with the first piece of a drill core from the joint natural gas and condensate field Shuwaihat. More »

Norway looks to reduce cost of rig moves

The Petroleum Safety Authority Norway has set up a working group to examine possible means of reducing costs on the Norwegian Continental Shelf associated with rig movements between the shelves in the North Sea. More »

CARBO mothballs Georgia proppant facility amid oil slump

CARBO Ceramics has decided to mothball its proppant manufacturing facility in McIntyre, Georgia, in response to lower oil prices. More »

Verisk Analytics to buy Wood Mackenzie for $2.8 billion

Verisk Analytics Inc., a supplier of data to insurers and banks, agreed to buy Wood Mackenzie for about 1.85 billion pounds ($2.8 billion) in cash, gaining a business providing information to the energy, chemicals and mining industries. More »

OPEC output dips in February, Platts survey finds

Oil production from OPEC remained below the group's 30 MMbpd ceiling for a second consecutive month in February as lower volumes from Libya and Nigeria more than offset increases from several other countries, a Platts survey of OPEC and oil industry officials and analysts showed Friday. More »

Premier Oil announces first gas from Indonesia's Pelikan field

Premier Oil started gas production from Pelikan field in the Natuna Sea Block A, offshore Indonesia, on Monday. More »

Verisk Analytics to acquire Wood Mackenzie for $2.8 billion

JERSEY CITY, United States -- Verisk Analytics, Inc. has signed a definitive agreement to acquire Wood Mackenzie from Hellman and Friedman and other Wood Mackenzie shareholders. More »

OPEC output dips 20,000 bpd to 29.92 MMbpd in February: Platts Survey

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) remained below the group's 30 MMbpd ceiling for a second consecutive month in February as lower volumes from Libya and Nigeria more than offset increases from several other countries, a Platts survey of OPEC and oil industry officials and analysts showed on Mar. 06. More »

Oil trades near $50 as supply expansion in U.S. seen slowing

Oil traded near $50/bbl after the U.S. government forecast that the nation’s supply growth will slow next month, prompting speculation a global glut will ease. More »

Premier Oil brings Indonesia's Pelikan field on-stream

LONDON -- Premier Oil has initiated gas production from the Pelikan field in the Natuna Sea Block A, offshore Indonesia on Mar. 09. More »

U.S. shale oil growth slows as price crash idles drilling rigs

HOUSTON (Bloomberg) -- The biggest slowdown in oil drilling on record is showing signs of reining in the U.S. shale boom. More »

Alfa Laval wins $30 million offshore pumping systems order in Angola

Alfa Laval has won an order to supply Framo pumping systems for FPSO projects in Angola. The order, booked in the Marine and Offshore Pumping Systems segment, has a value of approximately $30 million (SEK 260 million) and delivery is scheduled for 2015 and 2016. More »

KrisEnergy picks up Vietnam Block 105 from Eni

KrisEnergy has increased its working interest in Block 105 and is taking over operatorship of the production sharing contract. More »

Ceona wins its first rigid pipelay project in Gulf of Mexico

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Brent crude falls on Chinese data; WTI gains on slower supply gain

Oil fell in London for a fourth day after China reduced crude imports. Futures advanced in New York after an industry survey was said to report a slowdown in crude stockpile increases at Cushing, Oklahoma. More »

Dune Energy declares bankruptcy after merger fails

Dune Energy Inc., a Houston-based oil and gas explorer with operations in Texas and Louisiana, sought bankruptcy protection following a failed merger, making the company the latest victim of falling oil prices. More »

Claxton awarded new contract for Statoil’s Gina Krog

Claxton Engineering Services, an Acteon company, has been awarded a contract with Statoil to supply conductor and internal centralizers to a minimum of 14 wells on the Gina Krog development, offshore Norway. More »

Jericho Oil closes on its initial Oklahoma acquisition

Jericho Oil Corporation has closed on its previously announced acquisition of a 50% working interest in 1,850 acres in northeastern Oklahoma. More »

Whiting Petroleum said to hire bank to pursue potential sale

Whiting Petroleum Corp., the largest oil producer in the Bakken shale formation, has hired a bank to pursue a possible sale, people familiar with the matter said. More »

iSURVEY Singapore awarded contract with Solstad Offshore

iSURVEY Pte Ltd, Singapore, has been awarded a marine construction support contract by Solstad Offshore Asia Pacific to provide positioning and survey support for its 2015 platform installation program in Thailand, on board the DLB Norce Endeavour. More »

Tap Oil awarded two blocks offshore Australia

Tap Oil Limited has been awarded 100% of Blocks W14-7 and W14-16 in the prospective Barrow and Dampier sub-basins on Australia’s North West Shelf. More »

Volatility lies ahead for LNG market, BG Group says

READING, United Kingdom -- For the LNG market, 2015 will be marked by increasing volatility as new waves of supply start to add volume together with new markets opening up, according to BG Group’s annual Global LNG Market Outlook. More »

Statoil orders new emergency vessel for Mariner field

Statoil (UK) Limited has awarded a contract to Sentinel Marine Limited to provide a new multi role Emergency Response and Rescue Vessel (ERRV) to support operations on Mariner field on the UK Continental Shelf (UKCS). More »

CNOOC commences production at Qinhuangdao 32-6 oilfield, Bohai Bay

CNOOC has commenced production at its Qinhuangdao 32-6 comprehensive adjustment project. More »

BP in second deepwater gas find offshore Egypt

LONDON -- BP Egypt announced another gas discovery in the North Damietta Offshore Concession in the East Nile Delta on Monday. More »

Oil glut seen easing in second half of year by head of OPEC

The global crude-oil market will return to balance in the second half of this year as demand growth picks up and high-cost producers trim output amid lower prices, OPEC Secretary-General Abdalla El-Badri said. More »

Goldman says $40 oil call may be too low as demand surprises

Goldman Sachs Group Inc. said it didn’t expect oil demand to recover so quickly and its forecast for crude at $40/bbl may be too low. More »

Lloyd's Register Consulting completes safety contract on the Vette FPSO project

LONDON -- Lloyd’s Register Consulting has completed prime safety work packages for Aibel on the Vette FEED contract for the Sevan-type cylindrical FPSO. More »

Acorn International presents Independent Study of Marine Environmental Conditions in Ghana

HOUSTON -- Acorn International, a premier environmental and social risk management service provider, has presented an Independent Study of Marine Environmental Conditions at an official launch ceremony in Ghana on Feb. 25. More »

Winters launches a complete line of industrial pressure switches

TORONTO, Canada -- Winters Instruments has launched a complete line of industrial pressure switches viz. 2WPS, 3WPS, 4WPS and 9WPS. More »

Iraq troops enter Tikrit, drive Islamic State from oilfields

Iraqi forces entered the central city of Tikrit earlier this week, in an attempt to drive out Islamic State militants, and regained control of two oilfields in the region, a local official said. More »

Oil falls for second day as dollar strengthens after jobs report

Crude futures dropped for a second day in New York as the dollar strengthened after a monthly jobs report, reducing the investment appeal of commodities. More »

Rigs seeking U.S. oil slide to 3-year low in record retreat

U.S. energy explorers shut rigs targeting oil for the 13th straight week, extending the biggest retrenchment in drilling on record and dragging the total count to the lowest level since 2011. More »

Shale drillers storing oil underground, waiting for price recovery

HOUSTON -- Oil drillers expecting prices to rebound after the biggest drop in six years have come up with an alternative to storing their crude in tanks: They’re keeping it in the ground. More »

Enbridge to optimize regional oil sands infrastructure expansions

Enbridge has revealed plans to optimize a previously announced expansion of its Regional Oil Sands System. More »

GE opens new facility in Australia to support subsea projects

GE has announced the official opening of a new oil and gas facility in Broome, Western Australia, specifically designed to service subsea projects. More »

Statoil delays Castberg, Snorre projects to cut costs

STAVANGER, Norway -- The licensees in the Johan Castberg and Snorre 2040 licenses have decided to spend more time on the projects, Statoil announced Friday. More »

BP finalizes $12-billion deal to develop Egypt’s West Nile Delta

BP announced Friday that it has signed the final agreements of the West Nile Delta project to develop 5 Tcf of gas resources and 55 MMbbl of condensates with an estimated investment of around $12 billion by BP and its partner. More »

Gazpromneft Khantos acquires two new licenses

Gazpromneft Khantos has acquired two new licenses, for Maloyugansk and Zapadno-Zimnee fields, in Russia’s Khanty Mansiysk Autonomous Region. More »

BNSF train hauling 103 crude cars derails in Illinois

GALENA, Illinois (Bloomberg) -- A BNSF Railway Co. train carrying 103 cars of crude oil derailed in rural Illinois, and U.S. regulators said a fire had broken out. There were no reports of injuries. More »

Statoil to drill UKCS Catcher and Mariner wildcats

STAVANGER -- Statoil is preparing to drill two UKCS wells in the Spring -- one in the Catcher area of the Central North Sea and the other in the Northern North Sea to the west of the Mariner field. More »

Blackbird Energy reports gas and liquids discoveries in Montney shale

CALGARY -- Blackbird Energy has announced that its first two operated horizontal Montney wells at Elmworth, Alberta, have been successfully completed and tested. More »

Statoil exec sees a year of cash flow challenges, cost containment

For the remainder of 2015, the global EandP industry should expect to see operators wrestling with cash flow challenges, negotiating price discounts with suppliers and looking to sell assets to raise cash, said Jason Nye, Statoil’s senior V.P. for U.S. Offshore Development and Production, North America. His comments came during a presentation to The 5th Norwegian Finance Day, held Wednesday by the Norwegian Consulate General at the Federal Reserve Bank in Houston. More »

Colorado operator misses bond payment, marking junk's swift fall

DENVER -- A Colorado oil producer is giving debt investors a lesson in the risks of lending to companies that staked their future on the U.S. shale boom. More »

ConocoPhillps’ chief economist sees gradual market recovery

HOUSTON -- The recovery of the global oil market from sharply lower oil prices will be gradual, and it will be driven mostly by a supply response, said ConocoPhillips Chief Economist Marianne Kah. Her comments came during a presentation to The 5th Norwegian Finance Day, held Wednesday by the Norwegian Consulate General at the Federal Reserve Bank in Houston. More »

Shell contracts first LNG-fuelled supply vessel for deepwater Gulf of Mexico

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Canadian Natural Resources triples profits by pumping more oil

Canadian Natural Resources, the nation’s largest heavy crude producer, boosted its dividend by half a cent after reporting an almost tripling of its profit as it pumped more oil to counter the effect of plunging prices. More »

Woodside gets green light for Apache Corp. deal

The Australian Competition and Consumer Commission (ACCC) has announced that it will not oppose Woodside’s proposed acquisition of Apache Corporation’s interests in the Wheatstone, Balnaves and Kitimat Projects. More »

Honeywell wins contract for third HLJOC platform offshore Vietnam

Honeywell Process Solutions announced Thursday it has been selected to handle critical project management and engineering for a third oil and natural gas platform that will tap energy reserves off the coast of Vietnam. More »

Exxon looks to U.S. shale fields to drive global growth

In a world of $55/bbl oil, Exxon Mobil Corp. is relying on shale fields in Texas, Oklahoma and North Dakota to help fund the next wave of big overseas projects it needs to thrive in the future. More »

Tendeka celebrates 10,000 FloSure AICD installations

Tendeka has reached a landmark in the growing demand for its FloSure autonomous inflow control device (AICD) range, with more than 10,000 now having been installed globally. More »

Oil gains on Libya turmoil while Cushing supply growth slows

Oil rose in London after Libya suspended its obligation to deliver supplies from 11 oil fields amid clashes between guards and Islamist militants. Prices gained in New York as inventory growth at the largest U.S. storage hub slowed. More »

Lamprell delivers second jackup to Greatship Group

Lamprell has announced the completion of construction on a further jackup rig, the Greatdrill Chaaru, and its delivery to Greatship Global Energy Services Pte. Ltd. More »

Rosneft, Golar LNG to partner on FLNG

Rosneft and Golar LNG Ltd. have entered into a Memorandum of Understanding that foresees cooperation between the companies in the area of floating liquefaction and transportation of natural gas. More »

Goldman sees LNG as biggest commodity after crude this year

Global trade in LNG will exceed $120 billion this year, taking it past iron ore as the most valuable commodity after oil, Goldman Sachs Group Inc. said. More »

Northern Petroleum inks farm-out agreement with Shell

Northern Petroleum's wholly owned subsidiary, Northern Petroleum (UK) Ltd., has signed a farm-out agreement, which includes the agreed terms of a joint operating agreement, with Shell Italia EandP, a wholly owned subsidiary of Royal Dutch Shell, in respect of its Cascina Alberto permit, which is located onshore, north west Italy. More »