Oil scores best January on record as supply cuts revive market

Oil closed lower but still scored its best January gain on record, after a month in which OPEC’s emergency supply cuts started to take root and panic eased about the global economy. More »

ExxonMobil creates new upstream businesses, names new leaders

ExxonMobil Corporation will streamline its upstream organization and centralize project delivery across the company to support previously announced plans to double operating cash flow and earnings by 2025. More »

BHGE's upstream has reported increased revenue, orders in 2018 results

Baker Hughes, a GE company has announced results today for the fourth quarter and total year 2018. More »

Total has made new North Sea discovery

Following Glendronach in September 2018, Total announces a new significant discovery in the North Sea offshore U.K., on the Glengorm prospect located in the Central Graben. More »

Wintershall has named new Middle East, Germany leaders

Helge Beuthan, currently V.P. for global subsurface evaluation, will take over the duties of Dr. Uwe Salge in Abu Dhabi on Feb. 1, 2019. More »

Shell has reported strong performance in fourth-quarter 2018 results

Shell's CFO Jessica Uhl has delivered a video presentation outlining the company's fourth-quarter 2018 results. More »

Faroe has appointed new company directors

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces that Mr. Bjørn Dale has been appointed as Chairman of the company and Mr. Ørjan Gjerde has been appointed as non-executive director of the dompany with immediate effect. More »

DynaEnergetics has completed successful field trials of DS Trinity perforating system

DynaEnergetics, a business of DMC Global Inc. has announced it achieved a 100% success rate on field trials of its new DS Trinity perforating system. More »

C-Kore sensor monitor tool increases safety around well-heads

C-Kore Systems are pleased to announce a new subsea testing tool, the C-Kore Sensor Monitor. More »

Universal Subsea Inc. has developed biodegradable subsea equipment preservation fluid

Universal Subsea, Inc. (USI) has introduced a revolutionary, environmentally friendly, subsea equipment preservation fluid for commercial use globally. More »

Saturn Oil and Gas has commenced drilling of 10-well Viking horizontal program

Saturn Oil and Gas Inc. is has announced the commencement of its first quarter/second quarter 2019 drill program, Jan. 14, 2019. More »

Saturn Oil and Gas has commenced drilling of 10-well Viking horizontal program2019 Viking horizontal program

Saturn Oil and Gas Inc. is has announced the commencement of its first quarter/second quarter 2019 drill program, Jan. 14, 2019. More »

PSAC forecast update shows deteriorating investor confidence

In its first update to the 2019 Canadian Drilling Activity Forecast, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for 2019 to 5,600 wells. More »

Rowan signs contract with Lundin Norway

Rowan Companies plc has announced that the Rowan Viking, an N-Class ultra-harsh environment jack-up rig, has been awarded a seven-well program by Lundin Norway AS in Norway for a minimum duration of 265 days. More »

Marathon names new board chairman

Marathon Oil Corporation's board of directors has appointed Lee Tillman as the company's chairman of Marathon Oil Corporation, effective Feb. 1. More »

U.S. sanctions put pressure on Rosneft’s Venezuelan investment

As U.S. sanctions against PDVSA ripple through the market, there’s one company with more at stake than most: its Russian counterpart, Rosneft. More »

Shell pledges world-class profits as cash surge underpins returns

Shell came through a quarter of volatile oil prices to beat earnings estimates, delivering a surge in cash flow the company said will underpin “world-class” returns to investors. More »

Chicago cold air to rival Antarctica lifts power, gas prices

A cold blast brutal enough to rival temperatures at the South Pole is sending demand for power and natural gas soaring in the U.S. Midwest, pushing prices sharply higher. More »

The Middle East's once-hot LNG market faces a decade-long slump

The Middle East was a bright spot for global liquefied natural gas demand in 2015. Now imports have plummeted so much that it could take a decade to recover. More »

Oil surges to yearly high amid signs of lower Saudi shipments

Oil rose near $55/bbl, the highest since November, as a government report showed a steep drop in imports from Saudi Arabia. More »

Benefits of Alberta's oil curtailment program fading

The sugar high from Alberta’s crude curtailment program may be wearing off. More »

OPEC production cuts signal age of abundance

Three years ago, influential figures in the oil industry were sounding a clear warning: prices were too low, investment was collapsing and by the end of the decade the world would face a shortage. More »

BHGE AM Day 2: Knowledge, technology sharing are the keys to success

During the final day of the BHGE annual meeting on Tuesday, World Oil had a chance to visit with the president and CEO of BHGE North Africa region and the V.P. of Drill Bits. More »

BHGE AM Day 2: Digital and culture step-changes in the future of clean energy

The Baker Hughes, a GE company annual meeting is a two-day conference filled with industry leaders who share best practices, best-in-class products and services, and an unforgettable opera performance in the Teatro del Maggio Musicale Fiorentino. More »

NPD grants drilling permit for wildcat northeast of Edvard Grieg

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-31 S, cf. Section 15 of the Resource Management Regulations. More »

Oil dips most in a month as China slowdown signals demand drop

Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies. More »

How one of Venezuela's last oil buyers may react to sanctions

After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react. More »

Deep Sea Mooring announces multi-year agreement with Diamond Offshore

Vryhof, a partner to many of the offshore industry’s leading companies and its mooring business - Deep Sea Mooring (DSM), today announced the signing of a multi-year agreement with Diamond Offshore. More »

Rovco, Global Marine Group enter invested partnership

Subsea technology company, Rovco has formed an invested partnership with Global Marine Group (GMG) an innovative market leader in offshore engineering, to bring intelligent inspection, repair and maintenance (IRM) solutions to the global offshore market. More »

CNOOC reports discovery on Glengorm prospect, offshore UK

CNOOC Limited reported a new discovery on the Glengorm prospect, located in offshore UK Central North Sea. More »

Diluting Venezuela’s heavy crude just got harder

Venezuela's heavy crude cannot be exported without first being diluted. That will become more difficult following the latest U.S. sanctions on the country. More »

U.S. slaps de-facto ban on Venezuelan crude oil

The Trump administration dealt its toughest blow yet to the authoritarian Venezuelan leader Nicolas Maduro, issuing new sanctions on the nation’s state-owned oil company PDVSA that effectively block his regime from exporting crude to the U.S. More »

BHGE AM: SeaLytics offers real-time monitoring insights to enhance operator performance

During Day One of the BHGE Annual Meeting 2019, with two leaders in BHGE’s OFE business discuss progress on real-time monitoring and customer service. More »

Lundin Norway acquires further interests in Rolvsnes, Goddo on the Utsira High

Lundin Petroleum AB (Lundin Petroleum) has announced that its wholly-owned subsidiary Lundin Norway AS (Lundin Norway) has entered into an agreement with Lime Petroleum AS (Lime Petroleum) a subsidiary of Rex International Holding Limited, to acquire its entire Utsira High acreage position covering the Rolvsnes and Goddo basement area. More »

Trump sanctions Venezuela oil company PDVSA, pressuring Maduro

President Donald Trump sanctioned Venezuela’s state-owned oil company PDVSA and its central bank on Monday, the latest U.S. move intended to raise pressure on the regime of President Nicolas Maduro. More »

Oil bulls get bolder as OPEC cuts lessen odds of a relapse

Oil’s bulls are getting bolder. More »

Saudis pledge even deeper oil cuts in February under OPEC+ deal

Saudi Arabia will pump oil for six months at levels “well below” the voluntary production limit it accepted under OPEC’s oil-cuts accord, Energy Minister Khalid Al-Falih said. More »

Alliance formed to support innovative technology start-ups in oil and gas

EUNIKE Ventures announces the formation of a formal alliance with oil and natural gas operators Anadarko, Equinor Technology Ventures and Hess Corporation to identify start-up technologies that could lead to breakthroughs in the oil and natural gas industry. More »

Lundin Norway acquires further interests in Rolvsnes discovery, Goddo prospect on the Utsira High

Lundin Petroleum AB (Lundin Petroleum) has announced that its wholly-owned subsidiary Lundin Norway AS (Lundin Norway) has entered into an agreement with Lime Petroleum AS (Lime Petroleum) a subsidiary of Rex International Holding Limited, to acquire its entire Utsira High acreage position covering the Rolvsnes and Goddo basement area. More »

RoyalGate Energy extends license in Equatorial Guinea

The company plans to drill in Block Z; Equatorial Guinea’s block Z holds an estimated 3.6 Tcf of gas; RoyalGate is also interested in Angola’s marginal field licensing round. More »

McDermott awarded EPCI subsea tie-back contract for Stonefly development

McDermott International, Inc. has announced a sizeable contract award by LLOG Exploration Company, L.L.C. for deepwater subsea pipeline tiebacks and structures from the Stonefly development to the Ram Powell platform. More »

Oil snaps three-day rally as U.S. rigs climb for first time in 2019

The U.S. rig count rose for the first time this year, signaling further increases in the nation’s burgeoning crude production, as oil fell below $53/bbl. More »

Oil snaps 3-day rally as U.S. rigs climb for first time in 2019

The U.S. rig count rose for the first time this year, signaling further increases in the nation’s burgeoning crude production, as oil fell below $53/bbl. More »

BHGE to reduce CO2-equivalent emissions to net zero by 2050

On the first day of its 20th annual meeting in Florence, Italy, Baker Hughes, a GE company has announced its commitment to reduce its CO2 equivalent emissions 50% by 2030, achieving net-zero CO2 equivalent emissions by 2050. More »

BHGE: Discipline through the downturn becomes opportunity for the upturn

Entering its annual meeting on Monday, Baker Hughes, a GE company (BHGE), is stressing how its fullstream capabilities provide integrated oilfield products, services and digital solutions to the industry. More »

API: Industry sets multiple records to meet historic consumer demand

In a remarkable month, the American Petroleum Institute’s latest Monthly Statistical Report (MSR) shows the U.S. natural gas and oil industry established multiple records in December. More »

Saudis to keep Aramco's hold on oil intact ahead of share sale

Saudi Aramco plans to retain exclusive rights to develop Saudi Arabia’s oil reserves even as the kingdom prepares a multi-billion dollar plan to open up to foreign investment. More »

Shale drilling expands first time this year as oil rebounds

Oil explorers expanded drilling in U.S. fields for the first time this year as rising crude prices buoyed optimism. More »

Oil pushes higher as Venezuelan crisis threatens crude flows

Oil prices moved higher as analysts predicted the mounting political crisis in Venezuela could take a chunk out of global crude flows. More »

Norwegian oil hits barricades as ally Labor hints at break

For establishment politicians in Norway, discussing changes to the country’s oil policies is akin to swearing in church. More »

Trump eyes action to limit states' powers to block pipelines

The Trump administration is considering taking steps to limit the ability of states to block interstate gas pipelines and other energy projects, according to three people familiar with the deliberations. More »

U.S. oil production is only 23 years ahead of schedule, EIA says

A year ago, the U.S. government saw American crude production averaging 11.95 MMbpd in 2042. Shale drillers are set to exceed that this year. More »

Venezuelan unrest shoves aside U.S. supply surge as oil climbs

Oil climbed as growing instability in Venezuela outweighed fresh reminders of the American shale boom. More »

Eni spudded new well in Vandumbu field, offshore Angola

Eni has successfully launched a new production well in the Vandumbu field, about 218 mi (350 km) north-west of Luanda and 81 mi (130 km) west of Soyo, in the West Hub of Block 15/06, in Angola’s offshore. More »

Total's Egina starts production with TechnipFMC’s subsea systems

Total’s Egina field, located 93 mi (150 km) off Port Harcourt, kicked into production just as 2018 was winding to a close. More »

Rowan, Ensco reschedule acquisition deal

Rowan Companies plc has announced that it has convened and adjourned the Company's Court and General Meetings. More »

Weatherford has introduced expanded ForeSite optimization platform

Weatherford International plc has made a major enhancement to the ForeSite production optimization platform. Among the top features of the new release is expanding predictive failure analytics to electric submersible pumping systems (ESPs) and adding complete optimization capabilities for plunger-lifted wells. More »

McDermott awarded EPC contract by BP Trinidad and Tobago' s Cassia

McDermott International, Inc. has announced a significant contract award by BP Trinidad and Tobago, LLC (bpTT) for the engineering, procurement and construction (EPC) of the Cassia Compression Platform, located 35 mi (57 km) southeast off the coast of Trinidad. More »

U.S. ban may offer China and India feast of cheap Venezuelan oil

A possible move by Donald Trump to hurt Venezuela’s oil industry could prove a shot in the arm for the Xi Jinping and Narendra Modi administrations. More »

Talos Energy provides update on Zama appraisal, offshore Mexico

Talos Energy Inc. has provided an update on the Zama appraisal in Block 7 offshore Mexico. Talos is the operator of Block 7 in a consortium (the Consortium) with its partners Sierra Oil and Gas S. de R.L. de C.V. and Premier Oil Plc. More »

Cracks appear in record U.S. oil growth as shale slows for now

Cracks are emerging in the U.S. oil machine. More »

Railroad Commission of Texas has launched online inspection, enforcement database

The Railroad Commission of Texas More »

Halliburton plans to reduce capital spending in fourth-quarter report

Halliburton Company has reported income from continuing operations of $664 million, or $0.76 per diluted share, for fourth-quarter 2018. More »

Neptune Energy appoints CIO

Neptune Energy has announced the appointment of Kaveh Pourteymour as Chief Information Officer, based in London. He will take up the new role in the first half of 2019. More »

Russia, Turkey offered Sudan economic help, oil minister says

Russia and Turkey have offered Sudan economic assistance, the African nation’s oil minister said, as the government tries to salve a fiscal crisis that’s sparked a month of protests. More »

Oil falters as U.S. shutdown, China trade cast pall over economy

Crude prices fell to the lowest level in almost a week as China warned of “serious challenges” to the global economy and the U.S. government shutdown cast a pall over growth. More »

Oil CEOs see market rebalancing as outlook blurred by China risk

The oil market is gradually returning to balance as OPEC reins in output and the U.S. shale boom slows, according to executives gathered at Davos. More »

Seismos, Inc. has announced $10.5 million equity investment

Seismos, Inc., a technology provider for the oil and gas industry offering real-time frac treatment and frac performance evaluation, has secured a $10.5 million equity financing led by Quantum Energy Partners with follow-on participation from Javelin Venture Partners, Osage University Partners, ATP fund, Hicks Oilfield and other existing investors. More »

NOIA 2019 competition highlighting safety in seas

There are three weeks remaining to enter the National Ocean Industries Association (NOIA) 2019 Safety in Seas Awards Competition. More »

4Subsea, Ashtead Technology enter strategic partnership

Under the deal, 4Subsea’s autonomous, retrofittable sensors will be available to the global oil and gas industry via Ashtead Technology. Additionally, 4Subsea will explore utilizing Ashtead’s acoustic sensors for further developing their services offering to the market. More »

Canadian oil sand producers throw new tech at old foe

In their quest to make one of the most expensive methods of producing crude more profitable, Canada’s oil-sands companies have been ramping up efforts to get their thick bitumen to flow through pipelines more easily and cheaply. More »

Oil rises on expectations of market balance, slower shale growth

Oil recovered after its biggest decline in more than a week on signs U.S. shale supply growth is slowing, and expectations that OPEC’s output cuts are well on their way to balancing the market. More »

NPD publishes its December 2018 production figures

Preliminary production figures for December 2018 show an average daily production of 1.8 MMbbl of oil, NGL and condensate, which is a decrease by 26 Mbpd compared to November. More »

MEG eyes spending cut, board shakeup after Husky's bid fails

Fresh off defeating a hostile takeover bid, Canadian oil-sands producer MEG Energy Corp. is slashing capital spending and reviewing the makeup of its board. More »

Halliburton feels U.S. fracing slowdown more acutely

The world’s biggest oilfield service companies are feeling the U.S. fracing slowdown as shale producers slash spending forecasts. More »

AMLO cabinet skipped Davos to focus on graft fight, envoy says

Mexican President Andres Manuel Lopez Obrador asked his cabinet to skip this week’s World Economic Forum in Davos to focus on the government’s efforts to stop gasoline theft and attend to a pipeline explosion, according to the nation’s highest-ranking attendee. More »

Saudi, Russian energy ministers cancel planned Davos meeting

Saudi Arabia and Russia will no longer hold oil talks in Davos this week, scrapping the first face-to-face meeting since both nations agreed in December to cut output. More »

Oil slumps most in a month as IMF, trade dispute darken outlook

Oil slumped by the most in almost a month as economic warning signs flashed from Chinese trade talks to the U.S. housing market. More »

Stress Engineering Services has received ABS Recognized Specialist Certification for CBM services

Stress Engineering Services, Inc., a consulting engineering services company, has achieved an American Bureau of Shipping (ABS) Recognized Specialist certification for its condition based monitoring (CBM) services. More »

Tracerco has launched Hyperion to provide accurate and reliable bulk level, density measurements

Tracerco has added to its award-winning range of advanced nucleonic instrumentation by announcing the launch of Hyperion. More »

Halliburton sees downward pressure on fracing business

Halliburton forecast a drop in fracing earnings in the first quarter as the OFS announced a cut in capital expenditure to match a more disciplined approach from customers. More »

Turkey ship strait delays stalling dozens of oil tankers

Oil tankers exporting Kazakh and Russian crude from ports in the Black Sea are contending with spiraling delays when navigating Turkey’s key shipping straits, stalling the delivery of millions of bbl of supplies to refineries on the Mediterranean Sea. More »

Confident oil industry set to ratchet up spending in 2019

After years of gloom, the oil industry’s out of its slump. More »

DNV GL reports that greater investment expected to fuel OandG industry growth in 2019, but signs of old spending habits may be resurfacing

New research has revealed that companies’ resilience to volatile market conditions will be put to the test in 2019, as business leaders expect the industry to commit to greater investment to meet hydrocarbon demand. More »

BHP has reported its second-half 2018 operations review

BP reports highlights of its second-half 2018 upstream operations review. More »

Texas upstream employment trends indicate talent shortage

As reported by TIPRO earlier this month, employment growth for the Texas upstream sector stalled in the fourth quarter of 2018 following many months of consecutive growth. More »

Enbridge oil pipeline rationing eases little after curtailment

A month into Alberta’s mandatory oil curtailment and rationing on the country’s biggest heavy-crude export pipeline system has eased, but very little. More »

Oil steadies near two-month high as U.S. drilling slows down

Oil steadied near a two-month high in New York amid a pullback in U.S. drilling activity, while ongoing U.S.-China trade talks left an uncertain outlook for demand. More »

PermianChain Technologies has launched blockchain-based OandG trading, investment platform prototype

PermianChain Technologies has launched the prototype of its platform for trading potential oil and gas reserves that have yet to be developed. PermianChain’s blockchain-based approach will make it easier to put a value on reserves before they have been produced, enhancing efficiency and improving understanding of a project’s viability. More »

Fugro has enhanced IRM capability with new ROV support vessel

Fugro is set to commence its first project using new multipurpose ROV support vessel, Edda Sun, with mobilization for the IRM contract planned for March 2019. More »

Pemex's pipeline blast caused by rampant fuel theft, AMLO increases security, again

Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft at Petroleos Mexicanos after a pipeline explosion caused by an illegal tap left at least 89 people dead and many injured. More »

Locus Bio-Energy hires veteran oil industry executive as CEO

Jon Rogers, a highly respected global oilfield executive who served in senior roles at BP and Clariant, has been named CEO of Locus Bio-Energy Solutions, a disruptive technology company whose unique bio-chemical based production and drilling fluid chemistries are increasing oil production and safety, and attracting top industry talent. More »

High Speed Transfers, Damen have agreed to third FCS 2710 vessel

Damen and High Speed Transfers Ltd (HST) have signed a contract for a third FCS 2710 fast crew supply vessel, for delivery in September this year. More »

Trading of LNG derivatives to benefit industry

With natural gas demand growing faster than for any other fossil fuel, LNG futures may be finally taking off. More »

API has projected continued growth of U.S. energy as the world leader verified by fourth-quarter natural gas, oil data

Estimated total natural gas and oil well completions rose 23% in the fourth quarter of 2018 compared to year-ago levels, according to API’s 2018 Quarterly Well Completion Report, Fourth Quarter. More »

Saipem has been awarded two new offshore contracts from Saudi Aramco for $1.3 billion

Saipem has been awarded two EPIC contracts (Engineering, Procurement, Installation, Construction) assigned by the client Saudi Aramco for a total amount of approximately $1.3 billion as part of the Long Term Agreement for offshore activities in Saudi Arabia, renewed in 2015 and in force until 2021. More »

Canadian oil surge fails to lift producers out of the doldrums

Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. More »

Oil gloom turns to boom as China, Fed allay worst fears

Investors are the most optimistic on oil in two months as the worst fears that roiled markets at the end of the year start to dissipate. More »

Nigeria's state oil company seeks $4.1 billion to lift output

Nigeria’s state-owned oil company said it’s in talks with financiers to raise as much as $4.1 billion and will seek to sign service deals to increase production from three leases. More »

How OPEC is helping U.S. oil reach a tipping point

The U.S. Energy Information Administration has published its first detailed monthly oil forecast for 2020 and it shows something that should strike fear into the hearts of OPEC ministers — from the fourth quarter, America will export more oil than it imports. More »

Oil hits 2-month high as China truce signals brighter outlook

Oil prices climbed to a two-month high as China was said to offer a trillion-dollar buying spree to defuse trade tensions with the world’s biggest economy. More »

Oil hasn't started a year this hot since the turn of the century

Oil hasn’t started off this strong in 18 years. More »

Freedom Oil and Gas has announced new leadership with industry veteran

Freedom Oil and Gas Ltd has announced that effective Jan. 14, 2019, J. Russell Porter will be joining the company as president, CEO, and a member of the board of directors. J. Michael Yeager, Freedom's chairman of the board, president and CEO will remain as non-executive chairman. More »

Camber Energy in discussions with investment banking firms regarding merger, acquisition opportunities

More »

U.S. could soon produce more crude than Saudis can at their peak

America’s journey to preeminence in the global oil trade is about to hit another milestone. More »

IEA sees oil demand growth defying economic slowdown

Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity. More »

Oil rebound fizzles as Treasury denies U.S. easing China tariffs

Oil’s after-market rebound waned Thursday after the U.S. Treasury Department disputed a report that the Trump administration might ease trade tariffs against China. More »

Why a Libyan oilfield grab could be a boon or bane for exports (1)

Forces loyal to Libya’s eastern leader Khalifa Haftar have swept into the country’s lawless and oil-rich southern region to expel militants and secure energy facilities. More »

Legality of drilling permits issued during shutdown challenged

The Trump administration’s decision to keep issuing oil drilling permits during the government shutdown is putting those authorizations in legal jeopardy, environmentalists argued in a filing Thursday. More »

Husky Energy soars because investors love a failure

More »

Pragma's Downhole Steam Injection Valve takes next step towards North Sea reality

Aberdeen-based oil and gas production technology business, Pragma Well Technology, has been given the green light by Pharis Energy and OGTC to progress with the manufacture and prototype testing of their Downhole Steam Injection Valve (DSIV) following a successful feasibility study. More »

Wild Well Control has expanded its Montrose Facility, UK

Wild Well Control, a Superior Energy Services well control and engineering services company, has announced the expansion of its Montrose facility at South Ferryden, UK. More »

Crude slips as record U.S. output undermines OPEC+ supply curbs

Oil retreated toward $51/bbl as record production in the U.S. undercut assurances from Russia that it will step up efforts to drain global supplies. More »

Gulfport board faulted, share buybacks sought by investor

One of the largest investors in Gulfport Energy Corp. is urging changes at the natural gas and oil company, saying its board lacks the experience needed to correct its lagging performance. More »

Why a Libyan oilfield grab could be a boon or bane for exports

Forces loyal to Libya’s eastern leader Khalifa Haftar have swept into the country’s lawless and oil-rich southern region to expel militants and secure energy facilities. More »

Russia aims to speed up oil output cuts as Saudis criticize pace

Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia. More »

Vista Proppants has commenced outbound rail transload facility to enhance frac sand delivery

Vista Proppants and Logistics, LLC has commenced operations of a transload terminal facility to facilitate enhanced delivery of frac sand into the Midland and Delaware Basins of the Permian Basin. More »

Shell appoints new upstream director

Royal Dutch Shell plc (Shell) has announced the appointment of Wael Sawan as upstream director with effect from July 1, 2019. More »

Canadian indigenous groups mull pipeline deal to ease oil glut

CALGARY (Bloomberg) -- The Trans Mountain crude pipeline that Prime Minister Justin Trudeau’s government bought from Kinder Morgan last year is getting interest from some indigenous groups hurt by Canada’s oil price crunch. More »

Husky ends hostile MEG bid after lack of investor support

Husky Energy abandoned its $2.07 billion hostile takeover bid for rival Canadian oil-sands producers MEG Energy after failing to win enough support from shareholders. More »

Oil gains as Russia, Saudis signal commitment to production cuts

Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut. More »

Husky said likely to win support to extend MEG bid deadline

Husky Energy Inc. is expected to win support to extend a deadline to persuade shareholders to back its hostile bid for rival oil-sands producer MEG Energy Corp., despite falling short of winning outright support for the offer, according to people familiar with the matter. More »

OandG industry shows commitment to workplace safety in new report

API has released its comprehensive Workplace Safety Report showing that occupational injuries and illness for the natural gas and oil industry occur at a substantially lower rate than the U.S. private sector and are continuing to decline. More »

Petrobras has published its 2018 oil, natural gas production

Petrobras reports that in 2018, its total production of oil and gas, including natural gas liquids (NGL), was 2.63 MMboed, of which 2.53 MMboed produced in Brazil and 101,000 boed abroad. Petrobras’ own production of oil in Brazil was 2.03 MMbpd. More »

Aker BP operates Ivar Aasen from Trondheim, onshore

LYSAKER, Norge -- Aker BP has become the first company on the Norwegian Continental Shelf to operate a staffed platform from an onshore control room. Ivar Aasen in the North Sea is now operated from Aker BP’s offices at Trondheim torg. More »

AkerBP operates Ivar Aasen from Trondheim, onshore

LYSAKER, Norge -- Aker BP has become the first company on the Norwegian Continental Shelf to operate a staffed platform from an onshore control room. Ivar Aasen in the North Sea is now operated from Aker BP’s offices at Trondheim torg. More »

Faroe, Shell and Spirit partner in Edinburgh

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce its partnership with subsidiaries of Royal Dutch Shell plc and Spirit Energy Limited following the award of PL 969 in the recent APA licensing round with the intention to advance the large, cross-border Edinburgh prospect towards a drill decision during 2019. More »

QEP Resources said to work with Evercore on sale process

QEP Resources Inc. -- the energy explorer Elliott Management Corp. proposed to buy last week -- is working with Evercore Inc. to explore a sale, according to people familiar with the matter. Its shares rose as much as 5.4% on the news. More »

Camber Energy has reported its January 2019 update

Camber Energy, Inc., based in Houston, Texas, an independent oil and gas company engaged in the development of crude oil, natural gas and natural gas liquids, has provided a monthly update on its workover activities. More »

Oil slides as U.S. production surge stokes fears of global glut

Oil prices gave up their gains Wednesday as U.S. production surged and fuel inventories climbed, stoking fears about an oversupply of crude. More »

Subsea Integration Alliance awarded integrated EPCIC contracts offshore Australia by Esso Australia

Subsea Integration Alliance today announced the award of integrated subsea engineering, procurement, construction, installation and commissioning (EPCIC) contracts. More »

Airborne Oil and Gas awarded contract by TOTAL in West Africa

Airborne Oil and Gas B.V. has been awarded a contract from TOTAL to supply a TCP (Thermoplastic Composite Pipe) Jumper for a deepwater project in West Africa. More »

Equinor has made a gas, condensate discovery south of the Kristin field

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well. More »

Tullow has published it trading statement and operational update

Tullow Oil plc issues this statement to summarize recent operational activities and to provide trading guidance in respect of the financial year to Dec. 31, 2018. More »

CNOOC's Huizhou project starts production in the South China Sea

CNOOC has announced that Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project has commenced production. More »

Canadians back Trudeau's pipeline, but some voters are wary

A wide margin of Canadians support an oil pipeline that Prime Minister Justin Trudeau’s government is pushing to build -- though it remains unpopular among some voting blocs key to his reelection. More »

Colorado Supreme Court rules against plaintiffs in Martinez v. COGCC

Statement by Dan Haley, President and CEO of the Colorado Oil and Gas Association, on today’s Colorado Supreme Court ruling. More »

Oil resumes rally as stockpiles ween lower, China eyes tax cuts

Oil climbed as investors anticipated another decline in U.S. crude inventories and China promised to slash taxes to avert an economic slowdown. More »

Support for start-ups is helping to drive Total’s digital transformation

CES is truly the place to be for start-ups and more established businesses interested in gaining recognition for their disruptive innovations. More »

‘Realistic’ new model points the way to more efficient and profitable fracing

A new computational model could potentially boost efficiencies and profits in natural gas production by better predicting previously hidden fracture mechanics. It also accurately accounts for the known amounts of gas released during the process. More »

Vryhof has secured $75 million in 2019 contracts

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Norwegian Petroleum Directorate awards record licenses in APA 2018

Thirty-three companies have been offered ownership interests in a total of 83 production licenses on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2018. This is the largest number ever awarded in one licensing round. More »

NPD awards record licenses in APA 2018

Thirty-three companies have been offered ownership interests in a total of 83 production licenses on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2018. This is the largest number ever awarded in one licensing round. More »

Equinor invests $269 million to increase Gullfaks production, North Sea

The Gullfaks partners have decided to drill seven new wells and thereby improve oil recovery by 17 MMbbl with good profitability. More »

Authorities discuss plans to build gas pipeline from Israel to Egypt

Talks are in progress to build an underwater natural gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep. More »

Permian boom holds good news and bad news for OPEC

The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. More »

U.S. envoy insists no more waivers for buyers of Iran's oil

The U.S. plans to grant no new waivers to buyers of Iranian oil as it intensifies efforts to eliminate the Middle Eastern producer’s exports of crude, a senior official said. More »

OPEC+ plans review in Baku in March, Ministers' meeting in April

OPEC and its allies plan to hold a meeting in March to assess their oil-production accord in Azerbaijan, and then ministers will gather to set policy in April, according to the organization’s top official. More »

Ex-Halliburton Chairman Lesar to start new oil-services company

Dave Lesar, fresh from retiring as executive chairman of Halliburton Co. at the end of 2018, is working on a new venture in the oil patch with funding from private equity firm CSL Capital Management. More »

'Gas, of course' proclaims NPD director general

The Aasta Hansteen gas field began production on Dec. 16 as the first development in the northern Norwegian Sea. More »

Attollo has launched Innovation Incubator

Attollo Offshore has launched its Aberdeen-based Innovation Incubator. More »

Will Asia-Pacific's OandG sector join the global recovery in 2019?

The need to fill new and old gas infrastructure will see the drilling of exciting offshore prospects across Australia, Brunei, Malaysia, Myanmar, Pakistan and Papua New Guinea. More »

Halliburton has appointed new Western Hemisphere president

Halliburton Company has announced that Mark Richard, previously senior V.P. of the Northern Region, has been promoted to succeed Jim Brown as president of the Western Hemisphere effective Feb. 1, 2019. More »

Lundin Petroleum announces increased reserves and contingent resources

Lundin Petroleum AB is pleased to announce that as at Dec. 31, 2018, its proved plus probable net reserves (2P reserves) are 745 MMboe, its proved plus probable plus possible net reserves (3P reserves) are 901 MMboe and its best estimate net contingent resources (contingent resources) are 225 MMboe. More »

SDX has reported progress in Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has provided an update on operational developments in Egypt. More »

New exploration captures support Eni’s aggressive Middle East growth strategy

Following recent announcements of Eni S.p.A.’s acquisition of new exploration acreage in Bahrain, the UAE and Oman, Will Scargill, senior oil and gas analyst at GlobalData offers his view on their place within the company’s wider strategy. More »

BP, Eni to pursue major new exploration opportunity in Oman

BP and Eni have signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards a significant new exploration opportunity in Oman. More »

Russia eyes island storage for Arctic LNG amid China demand boom

Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs. More »

Oil retreats with equities as rally to bull market seen overdone

Oil extended its retreat as investor appetite for risk shrank and uncertainty persisted over how much OPEC will need to cut output to counter booming U.S. shale supplies. More »

Saudi and Canadian cuts are leaving world hungry for heavy crude

Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind. More »

Oil collapse helped DNO clinch hostile takeover, Faroe CEO says

Oil’s collapse at the end of last year was critical to DNO ASA clinching the hostile takeover of Faroe Petroleum Plc after a contentious battle for control, the target company’s boss said. More »

Russia starts gradual oil output cuts as OPEC+ deal kicks in

Russia is gradually reducing oil production in line with the OPEC+ deal and is on track to get about a fifth of the way toward its pledged cut this month. More »

Chevron touts nimble shale as electric cars dim big oil's future

Chevron Corp. will spend about half its capital budget on projects that yield quick returns over the next three years, underscoring the importance of shale as it prepares for growing uncertainty in how the world consumes energy. More »

Eni, Thailand's PTTEP win Abu Dhabi oil exploration rights

Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi, committing to invest at least $230 million to assess the offshore blocks. More »

Two big producers just called a bottom for oil: $60/bbl

Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick. More »

What all that oil really means for the Saudis

In case you didn’t know it, Saudi Arabia is sitting on top of a lot of oil. The first independent assessment of reserves in about 40 years has just proved it. More »

Saudis say OPEC+ oil cuts provided `lifeline' to U.S. shale

Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers. More »

U.S. LNG ready to take center stage in 2019

The coming year is expected to make the U.S. the third largest exporter of liquefied natural gas (LNG) in the world, creating jobs stateside while reducing emissions and providing reliable energy to countries around the world. More »

Total has appointed new IR senior V.P.

Brendan Warn has been appointed senior V.P., investor relations of Total, effective January 1, 2019. He succeeds Mike Sangster. More »

Petrofac secures engineering design services contract in Brunei

Petrofac, as technical service provider, and its partner Serikandi Oilfield and Services Sdn Bhd, have secured a multi-annual Engineering Design Services contract to support Brunei Shell Petroleum (BSP) and Brunei LNG (BLNG) in Brunei. More »

The NCS is barely halfway through its oil and gas story, according to NPD

The Norwegian Petroleum Directorate’s forecasts show that, after a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then approach the record year of 2004. More »

Equinor completes acquisition of the UK Rosebank project

Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf. More »

Seadrill CFO to step down June 2019

Seadrill Limited has announces today that its CFO, Mark Morris, will step down from his position following the completion of the company's financial restructuring. He will remain in post until the end of June 2019 to enable the company to find a suitable replacement. More »

Scottish global hub aims to transform decommissioning

The National Decommissioning Centre (NDC), a global technology RandD hub, is today opened by Lord Duncan, UK Government Minister for Scotland and Paul Wheelhouse MSP, Scottish Energy Minister, in Newburgh, in North-East Scotland’s Energetica Corridor. More »

India oil demand rises from four-year low as cash ban impact fades

India’s oil demand growth in 2018 rebounded from the slowest pace in four years as the country recovered from the shock of a cash ban and the roll out of a national sales tax. More »

Tendeka secures major AICDs contract to boost oil recovery in Middle East

Independent global completions service company Tendeka has secured a further multi-million-pound contract with a major national oil company in the Middle East. More »

Oil majors to increase offshore spending

After four years of cutbacks, oil companies are poised to develop new offshore fields, although the benefits won’t be spread equally across the OFS sector. More »

Alberta keeps oil cuts at January Level as prices surge

Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged. More »

Oil winning streak longest since 2010 as outlook brightens

Oil extended its winning streak to the longest in almost a decade as the Federal Reserve’s wait-and-see approach on interest rate hikes added to a rosier outlook. More »

APICORP forecasts $60-70/bbl by mid-2019

Oil prices are likely to trade between $60/bbl to $70/bbl range by mid-2019, barring sharp economic slowdown. More »

SPE Offshore Europe 2019 has announced keynote program

Artificial intelligence, energy diversification and the transformation of the workforce will be among the major talking points at SPE Offshore Europe 2019. More »

Rowan has executed contract with ConocoPhillips for the Rowan Norway

Rowan Companies plc has announced that the Rowan Norway, an N-Class ultra-harsh environment jack-up rig, has been awarded a contract in Norway by ConocoPhillips Skandinavia AS ("COPSAS") for an estimated duration of seven months that is expected to commence in second-quarter 2019. More »

Lukoil has confirmed Eridu field geological model

Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. More »

Tendeka secures AICDs contract to boost oil recovery in Middle East

Independent global completions service company Tendeka has secured a further multi-million-pound contract with a major national oil company in the Middle East. More »

Advisian Digital and Aurora Labs unveil 3D printing solution

Advisian Digital, the data science, software and technology business of the WorleyParsons Group, and Aurora Labs, the industrial 3D printing (3DP) technology company, have launched AdditiveNow, an additive manufacturing (3DP) solution center for the oil, gas, resources and major infrastructure sectors. More »

Zion moves forward with seismic campaign in Israel, as previously outlined

Zion Oil and Gas confirmed today that it will move forward with the operational plan in Israel that the firm outlined previously in its Nov. 29, 2018, press release. More »

Texas drilling permits, completions statistics for December 2018

The Railroad Commission of Texas (Commission) issued a total of 811 original drilling permits in December 2018 compared to 885 in December 2017. More »

API's annual State of American Energy highlights leadership

API President and CEO Mike Sommers has addressed more than 400 government, labor and industry leaders on America’s economic leadership at API’s ninth annual State of American Energy address. More »

Aker BP awards Optime Subsea long term well access contract

Aker BP have selected Optime Subsea as a provider of well access system and -services on the Norwegian Continental Shelf (NCS) for the next 2 years, with extension options. More »

Chesapeake Energy has reported 2018 fourth-quarter results, operational update

Chesapeake Energy Corporation has reported selected financial and operational results for the 2018 fourth-quarter. More »

MOL Norge AS has drilled a dry well in south North Sea

The well has been drilled about 45 km east of the Valhall and Ekofisk fields and 20 km north of the Norwegian-Danish border in the Mandal High area. More »

Faroe instructs shareholders on next steps for DNO’s final offer

The Board of Faroe has made the following statement further to the announcement by DNO ASA on Jan. 8, 2019 that it has increased its unsolicited offer to 160p per share and made its offer final, and the announcement by DNO that following further purchases of Faroe shares, DNO owns or has received acceptances for a total of 195,526,068 Faroe shares, representing approximately 52.44% of the ordinary issued share capital of Faroe. More »

Trump taps acting EPA chief, former lobbyist, to head the agency

President Donald Trump nominated Andrew Wheeler to head the EPA on Wednesday, seeking to elevate the former coal lobbyist who has led the agency on an acting basis for six months. More »

Oil bounces back to bull market fueled by OPEC cuts, trade talks

Oil stormed back into bull market territory, as investors who’d abandoned crude just a month ago were lured back by an OPEC-led campaign to bring runaway supplies in check. More »

Indigenous group blockades Shell’s Canadian LNG plant

British Columbia Premier John Horgan gave little sign his government was ready to intervene in a contentious blockade obstructing Shell’s $31 billion LNG export project. More »

BP discovers another giant gas field in the Caspian

BP just spent $28 billion bringing a giant natural gas project in Azerbaijan online, and that may only be the start. More »

Norway cuts 2019 oil output forecast to lowest in 30 years

Norway’s oil regulator reduced its forecast for production this year, predicting crude output could drop to the lowest in three decades before recovering in 2020. More »

CandJ Energy Services, Seismos partner on hydraulic fracturing characterization

CandJ Energy Services is teaming with Seismos to collaborate on the industry's first real-time hydraulic fracture characterization solution. More »

Spirit Energy strikes out north of Oda field

Spirit Energy Norway AS, operator of production license 405, has completed the drilling of wildcat well 8/10-7 S. More »

EDF unit is said to draw Neptune, Warburg for oil and gas assets

Electricite de France SA’s Italian unit has attracted potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy for its oil and gas business, people familiar with the matter said. More »

Saudis raise oil-reserves estimate ahead of Aramco's planned IPO

Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously. More »

TransCanada drops 'Canada' from its name after 67 years

TransCanada Corp. is taking the Canada out of its name. More »

Venezuela is said to map Caribbean as tension with Exxon grows

Venezuela will remap its Caribbean oil and gas prospects in a move that could further stoke a century-long border dispute with Guyana and collide with Exxon Mobil Corp.’s venture in the region, people with knowledge of the plan said. More »

Maersk Supply Service awarded long-term contract in Australia

Maersk Supply Service has been awarded a contract with Chevron Australia, which will see two of its newbuild anchor handling tug supply vessels support the Chevron-operated Gorgon Stage Two drilling program. More »

Lundin Norway targets Oppdal, Driva prospects

Lundin Petroleum AB (Lundin Petroleum) has announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed exploration well 2/6-6S, targeting the Oppdal and Driva prospects in PL860 in the North Sea. More »

Brent above $60 as trade talks buoy longest rally since 2017

Brent oil extended its longest rally in a year and a half, rebounding above $60/bbl, on hopes of a resolution in the U.S.-China trade dispute. More »

Prime Downhole receIves cash infusion to develop unconventional basins

Post Oak Energy Capital, LP, through investment partnerships it manages, today announced that it has led a $50 million equity commitment to Prime Downhole Holdings, LLC. The Prime management team will co-invest alongside Post Oak. More »

China eases back on Mideast, African Oil after buying binge

China’s crude oil purchases from the Middle East and West Africa dropped to a four-month low in December, following a buying binge the previous month that saw the Asian country’s stockpiles swell. More »

Oil CEO trades $4 million award for $1,500 as crude drops

One of the oil industry’s highest-paid executives is taking a pay cut as his company braces for possibly difficult times ahead after its stock plunged last year. More »

Oil climbs to 3-week high as trade talks fuel demand optimism

Oil closed at a three-week high as U.S. negotiators touted progress in trade talks with China and investors gained faith that OPEC will shrink output. More »

Sphera has acquired Petrotechnics to enhance end-to-end operational risk

Sphera, the largest global provider of integrated risk management software and information services with a focus on operational risk, environmental health and safety and product stewardship, has announced the acquisition of Petrotechnics, a leading global provider of operational risk software for hazardous industries. More »

Danos, Equinor sign major contracts

Danos has secured a contract with Equinor for production operation support on its Titan SPAR platform, located in the deepwater Gulf of Mexico. More »

BP plans significant growth in deepwater Gulf of Mexico

BP has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region. More »

Prime Downhole recieves cash infusion to develop unconventional basins

Post Oak Energy Capital, LP, through investment partnerships it manages, today announced that it has led a $50 million equity commitment to Prime Downhole Holdings, LLC. The Prime management team will co-invest alongside Post Oak. More »

Aqualis Offshore sets-up office in Australia

Marine and engineering consultancy Aqualis Offshore has set up an office in Perth, Western Australia, to support oil and gas developments in the Australasia region. More »

Emerge Energy Services, Chesapeake sign sand supply agreement

Emerge Energy Services LP has announced that its subsidiary Superior Silica Sands LLC has signed a new agreement with Chesapeake Energy Corporation covering frac sand supplied from Superior's San Antonio mine in South Texas. More »

Top oil lobbyist warns of rising political risk in Norway

Norway’s oil industry is in full recovery mode, but the country’s top petroleum lobbyist is worried about growing opposition ahead. More »

German support for Russian gas pipeline wanes

Support in Germany for a major new Russian gas pipeline is slipping as frustration with the Kremlin’s brinkmanship grows and pressure from U.S. President Trump starts to bite. More »

U.S. BLM issues offshore drilling permits despite shutdown

The partial U.S. government shutdown has docked fishing boats in Alaska, delayed public meetings on a proposed wind farm off the Massachusetts coast and blocked pharmaceutical companies from seeking approval for new drugs. More »

Spirit Energy gets approval for North Sea, Oda start-up

The authorities have approved the application for start-up of the Oda field in the North Sea. Operator Spirit Energy expects start-up in February/March 2019. More »

Spirit Energy get approval for North Sea, Oda start-up

The authorities have approved the application for start-up of the Oda field in the North Sea. Operator Spirit Energy expects start-up in February/March 2019. More »

Equinor's digital operations support centers help boost production

Two centers have been opened at Sandsli in Bergen by the petroleum and energy minister, Kjell-Børge Freiberg. More »

Canadian heavy crude surges as rail shipments keep climbing

Heavy Canadian crude surged to the strongest level in more than a year as rail shipments keep rising even as production was curtailed. More »

TAM International names new V.P.

TAM International, Inc., an independent oilfield services company providing inflatable and swellable packers to the oil and gas industry, announces the promotion of Barton Sponchia to V.P. Western Hemisphere. More »

Oil caps longest gain in 17 months on new trade talks, OPEC cut

Oil notched its longest stretch of daily gains in more than 17 months as fresh trade talks between the U.S. and China added to optimism that a global supply glut will be averted. More »

Elliott makes $2 billion offer for oil driller QEP Resources

Elliott Management Corp. made a $2 billion proposal to acquire the portion of QEP Resources Inc. that it doesn’t already own as the activist investor expands its private equity prowess into the energy space. More »

U.S. Eagle Ford oil growth to stall in 2019 amid weak prices

Drillers in the Eagle Ford, Texas’s other shale oil patch, will likely scale back activity in 2019 as lower crude prices eat into cash flows. More »

South Sudan restarts oil output at key field halted by conflict

South Sudan resumed production at its Unity oilfields, where operations were halted five years ago when a civil war erupted. More »

ExxonMobil begins drilling Haimara-1 exploration well, offshore Guyana

ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. More »

BP is said to plan sale of North Sea Shearwater stake

BP Plc is considering selling its stake in the Shearwater assets in the North Sea as it focuses on new projects in the area and expands in U.S. shale, according to people familiar with the matter. More »

Norway oil lobby hikes spending forecasts, sees 16% jump in 2019

Norway’s oil lobby raised its forecast for investments in the country’s petroleum industry as cost cuts during a three-year downturn made projects more profitable and able to withstand even the recent slump in crude prices. More »

Goldman slashes oil forecasts as new supply seen plentiful

Goldman Sachs Group cut its oil price forecasts for 2019, citing a re-emerging surplus and resilient U.S. shale production. More »

Venezuela taps obscure driller to replace big-name oil firms

With brand-name drillers unwilling to jump in, Venezuela is resorting to a newly formed U.S. company for help in shoring up production from its crude reserves, the largest in the world. More »

OPEC strategy still a winner for members despite oil slump

Given oil’s plummet at the end of last year, OPEC’s strategy to stabilize the market might look a bust. But where it matters most for the cartel’s members -- petroleum revenues -- it’s still a winner. More »

Bloomberg Opinion: Saudis slash oil output. Get ready for Trump tweets

The list of things that President Donald Trump criticizes in his tweets varies from one day to the next. More »

If you can't pipe it, refine it: Alberta seeks oil glut solution

What’s worse: Too much oil, or too much gasoline? T More »

Brent Crude surges in best week since 2016 as U.S. economy shines

Brent crude surged to its best weekly gain in more than two years, as encouraging economic news out of the U.S. helped oil markets turn the page on 2018’s price collapse. More »

Texas snaps 2-year streak of oilfield job growth as crude slides

Jobs in the Texas oil patch dropped for the first time in almost two years, according to the state’s workforce commission. More »

Bloomberg Opinion: Oil bosses aren't hiring, but they're glad you are

Friday’s blowout jobs numbers provided a welcome shot in the arm for oil prices. Up 4% as of writing this, West Texas Intermediate topped … $49/bbl — only a fifth lower than where it was a year ago. More »

Texas Railroad Commissioner Chairman Craddick has announced staff changes

Railroad Commission of Texas Chairman Christi Craddick has announced Jason Modglin as the new Director of Public Affairs for the Chairman’s office. More »

New Petrobras CEO rejects government intervention, vows increased oil production

The new head of Brazil’s state-controlled oil company criticized its history of government interference and vowed to pursue policies that will boost profit, echoing a wider pledge by President Jair Bolsonaro to reduce the state’s role in Latin America’s largest economy. More »

FERC's McIntyre dies, leaving second vacancy on Energy Regulator

Kevin McIntyre, a commissioner and former chairman of the top U.S. energy regulator, has died. More »

Oil set for biggest weekly gain since 2016 on Saudi supply cut

Brent crude headed for its biggest weekly gain since December 2016 as Saudi Arabia’s production cuts outweighed concerns over the health of the global economy. More »

Oil edges up as traders weigh economic risks against OPEC cuts

Oil ended another topsy-turvy day by closing near a two-week high, as traders weighed signs that OPEC is following through on production cuts against hints of an economic slowdown. More »

Kevin Neveu Elected as 2019 IADC Chairman

The IADC board of directors has elected Kevin Neveu, president and CEO of Precision Drilling, as its 2019 chairman. Julie Robertson, chairman of the board, president and CEO of Noble Corp, was elected as vice chair. More »

Eni acquires 70%, operatorship of the Oooguruk oil field in Alaska

Eni has entered into an agreement to acquire 70% and operatorship of the Oooguruk oil field in Alaska from Caelus Natural Resources Alaska LLC. More »

Equinor, Var Energi AS complete successful appraisal well in the Barents Sea Goliat license

The resource estimates on Goliat continues to increase. Vår Energi AS has together with license partner Equinor completed an appraisal in PL 229 in the Barents Sea through the successful drilling of the 7122/7-7 S Goliat West appraisal well. More »

DNO offer fails to secure sufficient acceptances, moves to mandatory offer

The board of Faroe notes the announcement by DNO ASA on Jan. 3, 2019 that it has received acceptances of its unsolicited offer for the entire issued and to be issued share capital of Faroe not already owned by DNO at 152p per share in cash of 48, 986, 566 Faroe shares, representing approximately 13.1% of the existing issued share capital of Faroe. More »

DNO hands over operatorship of Oman Block 8 following license expiry

DNO ASA, the Norwegian oil and gas operator, today announced that its subsidiary DNO Oman Block 8 Limited has relinquished operatorship and participation in Oman Block 8 to the Sultanate of Oman's Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production LLC (OOCEP). More »

Rockhopper Exploration progresses in the North Falkland, Greater Mediterranean

Rockhopper has made progress in many areas of interest, with plans for further growth in 2019. More »

OPEC output drastically reduced as Saudi cuts begin

Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month. More »

Oil retreats as concern over Chinese economic growth deepens

Oil retreated from a two-week high amid increasing concerns over economic growth in China, the world’s second-biggest consumer of crude. More »

Record Russian output putting pressure on natural gas markets

European natural gas prices look set to fall for the first time in four years in 2019 as buyers keep a close eye on flows from Russia that reached a record last year. More »

Oil keeps Oman on debt binge with $6.2 billion plan for 2019

Oman’s government, whose budget deficit is among the largest of all the sovereigns tracked by Fitch Ratings, will tap capital markets for a fourth straight year to plug a fiscal gap vulnerable to lower oil prices. More »

With Zinke out, ex-lobbyist said to become acting interior head

As Ryan Zinke left his post heading the Interior Department on Wednesday, the agency’s No. 2 official, David Bernhardt, joined President Donald Trump at a meeting of cabinet officials. More »

Faroe counters low-ball DNO offer with third-party valuation

Faroe Petroleum Plc said its value far surpasses a bid by DNO ASA, citing an independent assessment in a last-ditch effort to persuade shareholders to reject the hostile offer just hours before the deadline. More »

Oil jumps as U.S. equities regain ground, OPEC output declines

Oil prices closed higher on the first trading day of 2019 as U.S. equities recovered from early losses and data showed OPEC getting an early start on a promised production cut. More »

Ukraine has launched its first round of international OandG online auctions

Ukraine has launched its first oil and gas licensing round online. More »

Ukraine has launched its first round of international OandG auctions

Ukraine has launched its first oil and gas licensing round online. More »

Halliburton President and CEO Jeff Miller appointed as chairman of the board

Halliburton Company has announced its board of directors has appointed Jeff Miller, the company’s president and CEO, as chairman of the board, effective Jan. 1, 2019. More »

Shell has extended Rowan's Gorilla VI jack-up contract in Trinidad

Rowan Companies plc announced that the Rowan Gorilla VI (a Super Gorilla class jack-up) has been extended by Shell in Trinidad. More »

Faroe announces results of Brasse East exploration well

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces the results of the Brasse East exploration well 31/7-3 S and the Brasse appraisal sidetrack 31/7-3 A in the northern North Sea. More »

Total starts production at giant Egina Field, Nigeria

Total has started up production on Dec. 29, 2018 from the Egina field, located in around 5,249 ft (1,600 m) of water depths, 93 mi (150 km) off the coast of Nigeria. More »

Total starts production from giant Egina field, offshore Nigeria

Total has started up production on Dec. 29, 2018 from Egina field, located in around 1,600 m of water depths, 150 km off the coast of Nigeria. More »

Faroe Petroleum announces results of Brasse East exploration well, Brasse appraisal sidetrack

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces the results of the Brasse East exploration well 31/7-3 S and the Brasse appraisal sidetrack 31/7-3 A in the northern North Sea. More »

OPEC+ caps prove no barrier to record Russian output in 2018

Russia’s oil production reached a post-Soviet high last year even as it coordinated supply with OPEC. More »

Oil begins 2019 with renewed slide amid fears over China growth

Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus. More »

Ring Energy acquires acreage in the Permian

Ring Energy has announced that it has closed its transaction with Tessara Petroleum Resources, a wholly owned subsidiary of The Carlyle Group L.P., for assets located in Andrews County, Texas. More »

EIA: U.S. LNG export capacity to more than double by the end of 2019

EIA projects that U.S. liquefied natural gas (LNG) export capacity will reach 8.9 Bcfd by the end of 2019, making it the third-largest in the world behind Australia and Qatar. More »

Exmar's Tango FLNG sets sail for Argentina

Exmar has announced that its Floating LNG Liquefaction Unit (FLNG), to be renamed Tango FLNG, has left China to the destination of its liquefaction operations: Bahia Blanca, Argentina. More »

U.S. gulf refiners feast on domestic oil amid rising output

U.S. light oil has become too cheap for Gulf Coast refiners to pass up. More »