As U.S. majors cool on Australia, Japan’s Inpex sees opportunity

Japan’s largest petroleum exploration company, Inpex Corp., is looking at expanding its natural gas business in Australia, even as U.S. energy majors Exxon Mobil and ConocoPhillips scale back their operations in the country. More »

OPEC+ sends more signals it’ll maintain current targets

OPEC and its allies sent more signals that they’ll stick with existing output cuts at their meeting next week. More »

Saudi Arabia signals it’s had enough of OPEC+ quota cheats

For the last year, Saudi Arabia has largely turned a blind eye to cheaters within the OPEC+ alliance, cutting its own output more than agreed to offset over-production from the likes of Iraq and even Russia. Now, Riyadh’s had enough. More »

Equinor hopes for a dry well near Troll, for potential CO₂ storage

For the first time, an exploration well is being drilled in the North Sea where the objective is not to find oil or gas. More »

Rising number of North Sea oil and gas firms engaged in energy transition

Almost 40% of North Sea operators and contractors are concerned about diversification and energy transition with around half (49%) working to reduce their carbon footprints or develop low carbon solutions, according to an industry report. More »

Tendeka surface modification treatment increases oil recovery in unconventional shale plays

The new oil-based polymer treatment covalently bonds to the rock surface to allow enhanced oil flowback from the nanonetwork, resulting in improved return on investment. More »

Aramco IPO retail offering fully covered with one day to go

The retail tranche of Saudi Aramco’s initial public offering is fully covered with one day to go after 3.7 million investors applied to buy shares in the world’s biggest oil producer. More »

Permian basin is now an anchor dragging down jobs in Texas, Dallas Fed says

The world’s biggest shale patch is now officially a drag on jobs creation in the Lone Star state. More »

OPEC+ watchers see extension of output deal, but no further cuts

Any expectations that OPEC and its partners will make deeper cuts to oil production have all but evaporated. More »

Russia set to overshoot oil quota yet again ahead of OPEC+ talks

Russia, OPEC’s largest ally in a deal to cut oil production, is once again failing to keep its side of the bargain. More »

Cowboys owner Jerry Jones says he’s hunting for more Haynesville assets

Dallas Cowboys owner Jerry Jones is doubling down on a forlorn corner of the U.S. shale patch, calling Louisiana’s Haynesville play the best for low-cost hydrocarbons and saying he’s hunting for more acreage there. More »

Oil rises as optimism about U.S.-China trade-war truce abounds

Oil advanced, shedding earlier losses, amid growing optimism about prospects for a settlement in the long-running U.S.-China trade war. More »

Shale oil explorers say outlook for growth contradicts grim reality

Shale wildcatters, after years eye-rolling at skeptics, are now saying global analysts are underestimating just how severe the industry’s slowdown is. More »

Total’s Mozambique LNG project lands $400 million loan

Total SA’s giant Mozambique gas project will get a $400 million loan from the African Development Bank, adding to its list of backers as the East African nation works to establish a fuel-export industry. More »

Equatorial Guinea announces winners of EG Ronda 2019 bidding round

Officially launched in April, the round received interest from 53 international and national companies, with 17 companies submitting official bids and seven companies awarded concessions for nine blocks. More »

Analysts’ light schedules reflect apathy in oilfield service stocks

More free time for analysts usually means a lot less interest in the sector they cover. More »

Equinor retreats from frontier exploration in Norway’s Arctic

Equinor will reduce its focus on the frontier areas of the Barents Sea in another blow to Norway’s ambition to build a new oil province in its Arctic region. More »

U.S. energy-related CO₂ emissions rose in 2018 for the first year since 2014

The U.S. Energy Information Administration reported that total U.S. energy-related carbon dioxide (CO₂) emissions in 2018 rose to 5.27 billion metric tons, 2.7% more than its 2017 level. More »

Canada rail strike ends, restoring shipments Wednesday morning

A week-long rail strike that halted shipments of oil and other goods across Canada, threatening to take a multibillion-dollar bite out of the economy, is over. More »

Peterson and Itaoca Offshore announce partnership for development of new Brazil terminal

The Itaoca Offshore project will be a private terminal (TUP), located in Itapemirim, in the Espírito Santo (ES) state in southeast Brazil, designed to provide logistical support to the supply chain for the exploration and production of offshore oil and gas. More »

Springfield EandP completes maiden deepwater campaign offshore Ghana

Springfield EandP announced the completion of its maiden deepwater drilling campaign on the West Cape Three Points Block 2, offshore Ghana. More »

Equatorial Guinea launches ‘Year of Investment 2020’ campaign

Under the auspices of the Ministry of Mines and Hydrocarbons and supported by the African Energy Chamber, “Equatorial Guinea 2020 Year of Investment” is aimed at attracting foreign direct investment. More »

Total EandP Denmark awards Emerson wellhead monitoring technology contract

Total EandP Denmark has awarded Emerson a contract to provide wellhead pressure monitoring technology to enhance safety during the multi-year redevelopment project to extend the life of Denmark’s biggest gas field. More »

Coretrax acquires Churchill Drilling Tools, sets sights on further growth

Specialist well construction and intervention company Coretrax has acquired Churchill Drilling Tools as part of an ongoing growth and expansion strategy. More »

AqualisBraemar and HOSE International enter offshore inspection partnership

AqualisBraemar and HOSE International have signed a memorandum of understanding to jointly provide rig and well control inspection services for the offshore industry. More »

Months of unpaid bills in Mexico’s oil patch add to Pemex woes

Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004. More »

Sludgy crude oil sees surprise price boost ahead of new IMO 2020 fuel rules

One of the world’s sludgiest crudes is getting a curious price boost just weeks before the introduction of ship-fuel rules that were expected to sap demand for heavier oil. More »

Pertamina leadership overhauled in effort to reduce Indonesian oil imports

Indonesian President Joko Widodo ordered an overhaul of the management of state-owned oil giant PT Pertamina, as the former OPEC member seeks to reduce crude oil imports to rein in the current-account deficit. More »

Ardyne and Equinor ink long-term fishing services agreement offshore Norway

Ardyne has enhanced its relationship with Equinor through a frame agreement for fishing services covering all of the operator’s assets on the Norwegian Continental Shelf. More »

Petramina leadership overhauled in effort to reduce Indonesian oil imports

Indonesian President Joko Widodo ordered an overhaul of the management of state-owned oil giant PT Pertamina, as the former OPEC member seeks to reduce crude oil imports to rein in the current-account deficit. More »

Commonwealth LNG shifts burden of finding international gas buyers to Gunvor Group

Gunvor Group Ltd. agreed to double the maximum amount of liquefied natural gas it plans to buy from a $4 billion export project in Louisiana and said it will recruit additional customers for the terminal. More »

Bureau Veritas awarded three-year asset integrity contract with Shell Tunisia

Marine and Offshore has been awarded a three year Enterprise Frame Agreement with Shell Tunisia Upstream Ltd to provide asset integrity management support services. More »

Ardyne and Equinor ink ling-term fishing services agreement offshore Norway

Ardyne has enhanced its relationship with Equinor through a frame agreement for fishing services covering all of the operator’s assets on the Norwegian Continental Shelf. More »

Wärtsilä’s digital route optimization system to be deployed on 600+ vessels

The Wärtsilä Fleet Operations Solution integrates individual processes that are otherwise separate from each other to optimize the planning, weather routing, fuel consumption, and speed of a vessel. More »

Wärtsilä’s digital route optimization system to be deployed on 600+ Anglo-Eastern vessels

The Wärtsilä Fleet Operations Solution integrates individual processes that are otherwise separate from each other to optimize the planning, weather routing, fuel consumption, and speed of a vessel. More »

Carl Icahn to seek control of Occidental’s board

Carl Icahn plans to nominate a slate of 10 directors in an attempt to seize control of the board of U.S. oil and gas producer Occidental Petroleum, according to people familiar with the matter. More »

Has a global LNG glut forced the U.S. to become the swing producer?

A global glut of natural gas has gotten so massive that U.S. exporters could soon face their worst-case scenario: Halting shipments to get supply and demand back in balance. More »

Oil steady near $58 on glimmer of progress in trade war talks

Oil steadied near $58/bbl as China made a concession that could help resolve trade tensions with the U.S. that have weighed on the global economy and fuel demand. More »

Biggest LNG producer targets 64% jump in output capacity by 2027

Qatar, the world’s biggest supplier of liquefied natural gas, plans to boost output capacity by almost two thirds after it adds production facilities to exploit recently discovered reserves. More »

Global warming suit against oil industry goes to appeals court

New York City urged a U.S. appeals court to reinstate a lawsuit against five of the world’s biggest oil companies, after a federal judge last year rejected a claim that the industry should reimburse the municipal government for costs tied to climate change. More »

Satellite studying volcanoes finds giant oilfield methane plume

The monitoring of pollution from oil and gas fields achieved a major breakthrough after a satellite company discovered a methane leak in Central Asia equivalent to the fumes of a million cars. More »

Two Canadian rail terminal owners unable to take any more oil amid strike

Canada’s oil patch will start feeling the full force of Canadian National Railway Co.’s worker strike by as early as Sunday, with two crude-by-rail terminal operators unable to receive any more oil deliveries. More »

Algeria squeezed in Europe’s gas market by a flood of LNG

Algeria’s natural gas pipeline exports to Europe are getting squeezed by cheaper Russian supplies and a global abundance of the liquefied form of the fuel. More »

Reduced access to credit making life harder for shale operators

Banks have begun trimming back the credit lines of America’s shale producers, further undercutting a beleaguered industry that’s been struggling to rebuild investor confidence. More »

Plexus wellhead sealing system aces API 6A PR2F testing standards

The tests, verified by Lloyds Register, exceed conventional API 6A temperature class ranges of ‘K’ (-75 to +180°F) and ‘X’ (0 to 350°F), and Plexus engineers believe no other wellhead sealing system can perform under the same conditions in a single test run. More »

SPL acquires Banded Iron US’ lab and measurement services business

By combining these businesses, SPL will provide customers with expanded laboratory testing, inspection, and measurement capabilities, enhanced by cloud-based digital compliance solutions, to help them make more accurate real-time decisions. More »

Three new LNG projects moving forward at the Port of Brownsville

The Port of Brownsville is one step closer to welcoming three new LNG projects with an investment totaling $38.75 billion after the Federal Energy Regulatory Commission (FERC) approved their proposals during its monthly commission meeting. More »

U.S. approves four gas export projects, just as outlook dims

Four liquefied natural gas export projects were cleared by the top U.S. energy regulator in a single day as a global supply glut casts doubt on whether they all will actually be built. More »

Halliburton introduces 15kpsi multizone completion system for ultra-deepwater operations

The increased capability of the XSTMZ system helps increase production and total recovery by driving down abandonment pressure and can save rig time by isolating and treating several intervals with a single trip. More »

ADNOC, Honeywell embark on one of the industry’s largest predictive maintenance projects

Under the terms of a 10-year partnership agreement, ADNOC will utilize Honeywell’s state-of-the-art asset monitoring and predictive analytics platform to maximize asset efficiency and integrity across ADNOC’s upstream and downstream operations. More »

Maersk Supply Service wins FPSO tow and mooring installation project

This is the fourth large moorings project Maersk Supply Service is delivering following its announcement to expand, adding project management and engineering on top of its in-house fleet of more than 40 vessels. More »

EIA increases U.S. crude oil production forecast

The U.S. Energy Information Administration revises the U.S. crude oil production forecast it publishes in each Short-Term Energy Outlook based mainly on two factors: updates to EIA’s published historical data and EIA’s crude oil price forecast. More »

New DNV GL recommended practice on subsea welding removes uncertainty, improves quality

DNVGL-RP-B204 “Welding of subsea production system equipment” provides agreed and harmonized operator requirements and best practice guidelines that will ensure consistency in the fabrication of subsea pressure retaining equipment such as wellheads, Xmas trees, manifolds and jumpers. More »

Wärtsilä Expert Insight adds AI capabilities to predictive maintenance

The system enables customer support to be delivered proactively by Wärtsilä Expertise Centres to ensure long-term accurate insight for their predictive maintenance strategies. More »

Aramco facing serious infrastructure risks due to climate change

Climate change poses a serious risk to Saudi Aramco’s long-term business as rising sea levels and temperatures could damage infrastructure, curb productivity and even halt some of its operations. More »

OPEC political troubles creating new supply risks

OPEC may have no appetite to cut oil production deeper when it meets next month, but flaring political crises across the group are once again threatening supply. More »

Ohio’s shale energy industry attracts nearly $78 billion in investment since 2011

Total investment in Ohio’s resource rich shale energy sector has reached $78 billion since tracking began in 2011, according to a Cleveland State University (CSU) study. More »

Canadian heavy crude weakens as rail strike halts shipments

The price of Canadian heavy crude weakened Tuesday as a worker strike at the nation’s largest railway curbed oil shipments, exacerbating a supply glut that’s crippled Canada’s oil industry. More »

Petroleum Economist reveals 2019 awards winners

Honoring the global energy industry's most successful firms, projects and innovations, Petroleum Economist has announced the winners of its 2019 Petroleum Economist Awards in 10 categories. Additionally, five awards were given to outstanding individuals for their industry contributions. More »

Petrofac enters Permian shale market with WandW Energy acquisition

The bolt-on acquisition is in line with Petrofac's stated strategy to position its Engineering and Production Services for growth by diversifying into new markets and geographies. More »

Rockwell Automation joins Accenture, Microsoft, PTC, ANSYS, and EPLAN to simplify digital transformation

The new Digital Partner Program streamlines industrial IoT implementations by connecting customers to digital expertise and solutions from market leaders. More »

Rovco completes ROV inspection, 3D modeling project at Galloper offshore wind farm

Rovco has utilized its technology and subsea expertise to inspect all 56 turbines at the Galloper Wind Farm, which generates enough green electricity to power the equivalent of 380,000 homes. More »

Worley and Arundo launch The Data Refinery as a hub for advanced energy analytics

The Data Refinery's focus is to bridge the gaps among operations, data science and information technology to help industrial companies transform their businesses through data-driven decisions. More »

ABB proves long-distance subsea power system for deep, remote ocean environments

Offshore energy companies will be able to access a reliable supply of up to 100 megawatts of power, over distances up to 600 kilometers and down to 3,000 meters water depth. More »

Exxon’s credit rating outlook goes negative on ‘substantial’ cash burn

The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities and refinery upgrades, Moody’s said in a statement Tuesday. More »

California intensifies fossil fuel fight with new drilling ban

California intensified its battle against fossil fuels by seeking independent reviews of all pending hydraulic fracturing permits and halting approvals of a key production technique in an area that has pumped crude for more than a century. More »

Encana investor blasts ‘discriminatory’ plan to flee Canada

Encana’s announcement of the planned U.S. move last month ratcheted up the gloom enveloping the Canadian oil industry and heightened anxieties about losing major domestic companies. More »

Exxon says N.Y. used climate-change fraud claims to score political points

The energy giant unleashed a torrent of criticism against New York Attorney General Letitia James in court filings Monday, more than a week after the state sought to drop two out of four claims on the last day of a civil trial that has yet to be decided by the judge. More »

Oil falls most in five weeks as supplies rise, trade deal stalls

Futures fell as much as 2.7% in New York, the biggest intraday decline since Oct. 14. U.S. oil inventories probably rose by 1.5 MMbbl last week, according to a Bloomberg survey ahead of a government report on Wednesday. More »

Conoco launches plan to distance itself from shale, win back shareholders

ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization, as the oil producer attempts to distance itself from the troubled U.S. shale industry. More »

Leading oil-market forecasts shift to positive for 2H 2020

The views of the three big oil forecasting agencies on changes in inventory levels next year have diverged over the past month, as the outlook from two of them becomes slightly more positive for producers. More »

Rockwell Automation and Accenture Industry X.0 join to create digital solutions for industrial clients

By providing customers with a single, trusted provider of digital solutions, the collaboration will enable clients to more effectively leverage the Industrial Internet of Things (IIoT) and ultimately drive measurable growth outcomes. More »

Enpro Subsea completes latest subsea enhanced production campaign in Ghana

Enpro Subsea has recently completed another two successful subsea hydraulic intervention campaigns for two operators in West Africa. More »

Norway’s oil production beats October forecast, still lags full-year projections

The Norwegian Petroleum Directorate’s preliminary production figures for October 2019 show an average daily production of 1.82 MMbblof oil, NGL and condensate, an increase of 264,000 bpd compared to September. More »

CGG to undertake UK North Sea’s largest OBN multi-client survey

Planned to start in early 2020, the survey has already received significant industry interest and is being prefunded in part by BP. First results are targeted for Q1 2021. More »

Exxon says N.Y. used fraud claims to score political points

The energy giant unleashed a torrent of criticism against New York Attorney General Letitia James in court filings Monday, more than a week after the state sought to drop two out of four claims on the last day of a civil trial that has yet to be decided by the judge. More »

Mexico’s curious clean-energy credit use deters renewable energy development

The government of Andres Manuel Lopez Obrador is changing rules for clean-energy credits, allowing aging hydroelectric dams operated by Mexico’s state-owned utility to qualify. The move, critics say, dilutes the value of credits initially intended for new wind and solar farms. More »

Oil slumps as pessimism clouds prospect of trade war settlement

Oil fell from an eight-week high amid signals that prospects for a resolution to the long-running U.S.-China trade war receded. More »

i-Tech 7 extends UWILD track record in North Sea

i-Tech 7, Subsea 7’s Life of Field business unit, has successfully completed an underwater inspection in lieu of dry-docking (UWILD) project for Borr Drilling in the North Sea. More »

Senegal to offer 10 offshore blocks in 2020 license round

Senegal’s MSGBC basin is home to several recent high-profile oil and gas discoveries, set in a variety of play types, both on and off the carbonate shelf. More »

Bourbon awarded new integrated logistics contract by Total in Namibia

Bourbon will provide Integrated Logistics services through its branch Bourbon Logistics Namibia local branch, with a well-established local partner, Logistics Support Services. Working with a solid local partner is a key aspect of Bourbon local content strategy. More »

KCA Deutag secures $460m of land drilling contracts in the Middle East, Africa and Europe

Global drilling and engineering contractor KCA Deutag announced that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe. More »

Expro secures Ichthys LNG contract extension offshore Australia

The contract will see Expro continue to supply a high rate 175 MMscf/day well testing package, which will include enhanced electronic emergency shut down (ESD) systems. More »

Oil holds near eight-week high on U.S.-China trade deal optimism

Oil held near the highest close in eight weeks on signs of progress in the prolonged U.S.-China trade war, which has weighed on the outlook for fuel demand. More »

Aramco valuation falls short of crown prince’s $2 trillion target

Saudi Arabia put a valuation on state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, well below the $2 trillion target sought by Crown Prince Mohammed bin Salman since he first mooted an initial public offering in 2016. More »

23rd World Petroleum Congress call for papers attracts 2,000 submissions

The World Petroleum Council announced today that 2,000 abstracts were received for the 23rd World Petroleum Congress (WPC) Call for Papers – the highest number of submissions ever achieved in the history of the Congress. More »

New pre-salt production begins on P-68 FPSO for Shell, Total in Brazil

Deepwater production has come online from the Brazilian pre-salt Santos basin. Shell Brasil and its consortium partners announced the start of oil and natural gas production at the P-68 FPSO, located in BM-S-11-A Concession in Berbigão, Sururu and West Atapu. More »

Wärtsilä and PSA Marine collaborate to achieve clean energy shipping

Specific collaboration areas envisioned include the use of electric or hybrid technologies that further the use of low-emissions energy and propulsion systems, and the incorporation of next-generation smart vessel technologies. More »

Equinor divides inspection tasks among four companies for Norwegian operations

“The agreements form the basis for a strong long-term collaboration, allowing us to use new technologies, achieve continuous improvement and increase safety and value creation for all parties,” says Peggy Krantz-Underland, Equinor’s chief procurement officer. More »

New pre-salt production begins on P-68 FPSO for Shell in Brazil

Deepwater production has come online from the Brazilian pre-salt Santos basin. Shell Brasil and its consortium partners announced the start of oil and natural gas production at the P-68 FPSO, located in BM-S-11-A Concession in Berbigão, Sururu and West Atapu. More »

Weatherford names Christian Garcia its new CFO

Garcia has more than 30 years of financial experience and has held leadership roles in the oilfield services, automotive electronics, software and consulting, and business equipment industries. More »

Saipem, Subsea 7 considering an oilfield services merger

Saipem is considering a combination with rival Subsea 7 to create a larger European oil services provider, people with knowledge of the matter said. More »

Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

The practice of oil tankers turning off their location signals has increased in the past month, according to shipping data, after the U.S. went after a Chinese-owned shipping company it said was moving crude for sanctioned Iran. More »

Shell says it’ll stay in Canada while other oil majors flee

Shell’s future in the country is largely as a natural gas producer and exporter focused on the $30 billion LNG Canada project, though the company is also committed to its local chemicals and retail businesses, Shell Canada head Michael Crothers said in an interview. More »

OPEC still sees oil surplus in early 2020 as meeting approaches

OPEC signaled that oil markets remain on course for a surplus in early 2020, even as delegates said the organization and its allies probably won’t step up efforts to remove the excess when they meet next month. More »

Billionaires poised to buy U.S. oil and gas assets at distressed prices

Billionaires are circling the distressed U.S. oil and gas patch, looking to pick up assets on the cheap at a time when the state of the industry is scaring off other investors. More »

ADNOC launches program to significantly expand onshore, offshore rig fleets by 2025

"The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells," said Abdulmunim Saif Al Kindy, ADNOC's upstream executive director. More »

ADNOC launches program to significantly expand onshore, offshore fleets by 2025

"The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells," said Abdulmunim Saif Al Kindy, ADNOC's upstream executive director. More »

Schlumberger to employ 1,000 Emiratis as part of ADNOC's In-Country Value program

Schlumberger signed a memorandum of understanding with ADNOC to support its In-Country Value (ICV) Program, which is designed to catalyze socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals. More »

ION lands ARGAS ocean-bottom nodal data processing and imaging contract

Full waveform inversion will be a key component in the workflow to achieve a high-resolution velocity model for depth imaging and seismic inversion for reservoir characterization. More »

Oil rises on signs of U.S. supply drop, OPEC’s shale outlook

Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year. More »

Qatar joins Gulf producers in oil-price formula overhaul

Qatar Petroleum is set to join most of its Persian Gulf counterparts and price its crude before loading instead of afterward from next year, according to people familiar with the plans. That More »

Oxy looks to sell as much as $15 billion in assets by mid-2020

Oxy is trading at its lowest in 14 years as investors balked at the amount of borrowing needed to complete the Anadarko deal, and then questioned whether Oxy can produce enough oil to manage the debt burden. More »

IEA predicts global oil demand will level off around 2030

While the current growth rate of 1 MMbpd -- or about 1% -- will hold for the next five years, it will ebb to just 100,000 bpd in the 2030s, the agency said. More »

Oil firms facing a credit crunch as lender patience wears thin

About $83 billion of outstanding debt issued by explorer and producer companies in the U.S. and Canada is yielding at least 10%, the typical threshold for distressed debt. More »

Oil rallies as OPEC sees potential for non-OPEC supply cuts

Oil advanced for the first time in three days after a report that OPEC sees a potential reduction in supply from outside of the group. More »

ADNOC and Total team up on drone-based seismic acquisition pilot program

The pilot project, performed with Total’s Multiphysics Exploration Technology Integrated System (METIS), uses autonomous drones and a ground vehicle to drop off and retrieve seismic sensors without human intervention. More »

ADNOC invests $489 million to upgrade Bab onshore field, sustaining long-term production capacity

The investment will re-energize ADNOC’s first field producing Murban grade crude to sustain long-term crude oil production capacity and reinforces ADNOC’s commitment to maximizing value from Abu Dhabi’s vast hydrocarbon resources as it delivers its 2030 smart growth strategy. More »

Renewables are growing, but greenhouse emissions will continue to rise, says IEA

The IEA’s report tracks the different paths the world can take, with government policies shaping the energy industry. While clean energy leaves some reason for optimism, the gap is widening between what scientists say is necessary to protect the environment and how industry’s energy needs are evolving. More »

Canadian gas drillers pursue plan for floating LNG project

Rockies LNG Partners, a group of Canadian natural gas drillers seeking new markets for their production, is considering building an export project on barges floating off the coast of British Columbia. More »

Exxon’s climate trial is over, but the legal war is just beginning

When New York’s climate change lawsuit against Exxon Mobil went on trial last month in a Manhattan courtroom, the energy giant’s lead lawyer took great pains to emphasize that the state’s allegations weren’t really about climate change. More »

Maersk Drilling awarded two-well contract for Mærsk Developer offshore Trinidad

The contract, which contains five additional one-well options, has an estimated duration of 171 days and is expected to commence in Q1 2020. More »

Tullow stock sinks on finding high sulfur content in Guyana crude

The stock sank as much as 23% on the news that crude from two wells in Guyana was found to be heavy, with a high sulfur content. That’s disappointing as the Guyanese discoveries earlier this year had countered concerns over troubled ventures elsewhere. More »

Chesapeake Energy’s CEO voices confidence in company’s operating and capital plans

Chesapeake’s stock has tumbled as much as 43% in recent weeks, following a third quarter earnings report that raised doubts about the company’s ability to continue as a going concern. More »

EPA and FERC chiefs brief independent producers on administration achievements, policies

Late last week, on Day 2 of its annual meeting and 90th anniversary, the Independent Petroleum Association of America (IPAA) heard from the respective heads of the EPA and FERC on how Trump administration policies are benefitting both the nation and the upstream oil and gas industry. More »

Tunisian gas field to start production by year-end, slashing imports

Tunisia’s long-delayed, $1.2 billion joint venture with Vienna-based OMV AG will start producing natural gas by the end of the year, the country’s industry minister said. More »

Injazat and Lamprell collaborate to digitize the Middle East’s renewables and energy sectors

Injazat, a market leader in digital transformation and Lamprell, a leading provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and energy sector, have started collaborating to create and market innovative digital solutions focused on the oil and gas and renewables markets. More »

CGG expands Middle East presence with regional geoscience center in Abu Dhabi

CGG has established a Regional Geoscience Center in Abu Dhabi to deliver geophysical, geological and reservoir technology and support to clients across the Middle East. More »

Offshore oil to peak in 2020, then join the shale slump, says analyst

A report by analysts at Sanford C. Bernstein and Co. sees projects in the Gulf of Mexico and off of South America significantly boosting output next year. After that, though, the odds drop for any further growth gains, the report found. More »

Repsol looks to Alberta to replace Mexican and Venezuelan oil

Repsol SA is looking as far away as Western Canada for oil for its European refineries amid dwindling supplies from Mexico and Venezuela. More »

3-TECH launches mobile training solution to help fuel Africa’s economic growth

Designed to help African countries train local people quickly in industrial skills such as construction, working at height, rigging and more, the mobile centers come fully-fitted with internal training spaces tailored to the needs of local employers. More »

Emerson launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale

Oil and gas producers have a new means of optimizing wellhead production that lowers operating costs while increasing safety, thanks to a newly launched service from Emerson that leverages cloud-based technologies to remotely monitor flow meter performance at the wellhead. More »

Crisis in Bolivia halts gas exploration projects

Natural gas exploration by global oil companies in Bolivia, key to growing the country’s sagging economy, has stopped amid an escalating political crisis that has left the Andean nation rudderless. More »

OPEC+ risks sub-$50 oil without deeper supply cuts

With their next meeting just weeks away, OPEC and its partners are showing no impetus for stronger action to support oil prices. But without intervention, some influential forecasters say a new supply glut could send the market crashing early next year. More »

New president could mean the end of Argentina’s shale opportunities

Investments had been picking up in Vaca Muerta, a Maryland-sized shale formation in Patagonia that could turn the troubled nation into a global energy provider. But that was before leftist Alberto Fernandez won the presidential election last month. More »

ADNOC to launch futures exchange for its Murban crude

Murban pricing will move from a retroactive official selling price to market-driven, forward pricing using a Murban futures contract as its price marker. More »

Carbo Ceramics stock dives after ‘going concern’ warning

Carbo Ceramics Inc. plunged 47% after warning investors it may fail as a going concern in part because its largest frac-sand customer halted purchases. More »

Halliburton releases new imaging technology to identify fracture networks

Halliburton released its PixStar High-Resolution Ultrasonic Imaging Service, a new logging-while-drilling technology that provides real-time images of the borehole to help operators identify fractures, improve wellbore stability and optimize completion design. More »

Tenaris taps Sandvik to deliver CRA OCTG in ADNOC supply agreement

The award includes a relevant portion of corrosion resistant alloy materials, which will be supplied by Sandvik as part of the Sandvik-Tenaris Alliance Agreement. More »

ADNOC CEO calls for modernization in response to an evolving energy landscape

Delivering the opening keynote address at ADIPEC, H.E. Dr. Al Jaber said the oil and gas industry is being disrupted by new technologies, new business models, new forms of energy and a new geopolitical order, with the rise of Asia. More »

Greene Tweed specialized elastomers log 30 years of oilfield service

Since the introduction of Chemraz, Greene Tweed has released more than 80 compounds for reliability in the most demanding operating conditions, such as rapid gas decompression, and in temperatures ranging from -40°C to 324°C. More »

Occidental to sell Permian campus following Anadarko acquisition

Occidental Petroleum plans to sell a four-story office building in the heart of the Permian basin and move employees into a nearby one owned by Anadarko, the oil producer it bought for $37 billion three months ago. More »

Aramco sees oil demand falling after 2040, per IPO prospectus

Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramco’s initial public offering, suggesting views are slowly changing in the kingdom where officials long dismissed the notion as overblown. More »

Weatherford introduces digital wellhead flow-measurement technology

Built for every production environment from heavy oil to wet gas, ForeSite Flow provides precise flow measurements for any fluid mixture without separation. More »

Oil tallies weekly gain as traders look past Trump tariff comments

Oil erased an early loss Friday, capping a weekly gain as investors shrugged off a comment by President Donald Trump that the U.S. hasn’t agreed to fully roll back tariffs with China. More »

Speakers at IPAA’s annual meeting laud industry, see tough election ahead

Celebrating its 90th anniversary, the Independent Petroleum Association of America (IPAA) kicked off the first day of its annual meeting Thursday, with two Capitol Hill insiders sorting out the issues for attendees, along with predictions of a tough 2020 election. More »

Oxy CEO Vicki Hollub receives IPAA's Chief Roughneck award

On Friday, at its 90th annual meeting, the Independent Petroleum Association of America (IPAA) bestowed its Chief Roughneck award on Occidental Petroleum President and CEO Vicki Hollub. More »

Green debate encroaches on natural gas industry meeting in Paris

For years, Europe’s top natural gas conferences focused on the boom in deliveries of the cleanest fossil fuel. Now, the gathering is starting to consider the risks piling up from the green movement. More »

Alberta loosens oil curbs by exempting new conventional wells

Alberta loosened crude-oil production limits for the second time in two weeks, exempting new conventional wells from output caps in a bid to spur drilling and boost employment. More »

Total quits U.S. oil lobby group over climate policy differences

French oil giant Total SA said it won’t renew its membership of a key industry lobby group because the organization’s stance on climate issues doesn’t align with its own. More »

Sparrows Singapore achieves API Q2 certification to support drilling work in APAC

Sparrows Group’s Singapore operation has achieved the world’s most advanced quality assurance certification for drilling service providers - the American Petroleum Institute (API) Specification Q2. More »

McDermott debt may be prelude to a bankruptcy loan

McDermott International Inc.’s $1.7 billion super-senior credit facility could give an indication of terms if the struggling engineering and construction firm were to convert the debt into a bankruptcy loan. More »

Northern Drilling semisub receives industry’s first hybrid powerplant class notation

Northern Drilling's West Mira is an ultra-deepwater semisubmersible designed by Moss Maritime, operating a hybrid power plant using Lithium-ion batteries as spinning reserve in dynamic positioning (DP) operations and to supply power during peak load times. More »

Apache’s North Sea subsidiaries award Baker Hughes subsea frame agreement

Baker Hughes announced that Apache Corporation’s North Sea subsidiaries have awarded, through a multi-year frame agreement, a suite of subsea equipment and services including six trees, wellheads and an associated service package. More »

ExxonMobil taps SBM Offshore for third Guyana FPSO

The FPSO, to be named Prosperity, will utilize a design that largely replicates the design of the Liza Unity FPSO. As such, the design is based on SBM Offshore’s Fast4Ward program that incorporates the company’s new build, multi-purpose hull combined with several standardized topsides modules. More »

Petrobras faults high price, regulatory uncertainties for auction failure

Petrobras CEO Roberto Castello Branco said the reason most major oil companies didn’t show up for Brazil’s massive auction was because of the astronomic price tag and regulatory uncertainties. More »

Exxon calls New York climate case a ‘joke’ on last day of trial

A lawyer for Exxon Mobil said New York’s fraud lawsuit against the oil giant was a “joke” and that the state had falsely accused engineers and scientists of cooking up a scheme to mislead investors about the financial risks of climate change. More »

Encana picks Denver for new HQ as it decamps from Canada to U.S.

The move to Denver was widely anticipated because Suttles, a Texan, relocated his residence there in March 2018, though the company also has a major office in Houston. More »

Gator Technologies expands Midland and Broussard operations

The new facilities will provide purpose-built space to support Gator’s bottom hole assembly tool rental, repair and manufacturing capabilities. More »

TGS and WhiteStar partner to offer combined data sources

Robert White, CEO of WhiteStar Corporation, said, “Customers will greatly benefit from a best-in-breed integration of our highly curated land data and the well-respected TGS field, pool, and validated well header data.” More »

Costain lands over £4m in UK gas terminal contracts

Infrastructure solutions company Costain has secured some £4m worth of design, engineering and consultancy contracts for the energy market, shaping the future for sustainable operations and improved efficiencies at several UK onshore gas terminals. More »

EIA: Brent and WTI hedge terms getting shorter as production cycles change

The U.S. Energy Information Administration reports that changes in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts. More »

U.S. oil production growth in for a ‘major slowdown,’ says IHS Markit

U.S. shale production—the chief source of rapid growth that made the United States the world’s largest oil producer—is slowing down fast, says a new report by IHS Markit. More »

Multinational coalition begins patrolling Persian Gulf oil routes

A U.S.-led coalition created to secure sea lines vital to oil shipping in the Middle East formally launched operations in the most concerted international response yet to months of tensions in the region. More »

Decommissioning will be the North Sea’s biggest business by 2030

“Over $26 billion is to be spent on UK decommissioning by 2030,” said Paul Main, a Wood Mackenzie Ltd. analyst focused on the upstream supply chain. By that time, companies will be spending more on removing redundant oil and gas facilities than developing new fields, he said. More »

Gravity to acquire Permian water gathering and disposal company from White Deer Energy

Gravity's acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland basin. More »

Wall Street loses faith as Chesapeake stock falls to 20-year low

Chesapeake Energy Corp. collapsed to a 20-year low Wednesday, one day after the shale gas driller warned it may not be able to outlast low fuel prices and issued a “going concern” notice. More »

Ivory Coast kicks off offshore license round

Ivory Coast wants more explorers for oil and gas as it seeks to boost economic growth, according to Energy Minister Abdourahmane Cisse. More »

Oil falls on reports of OPEC target freeze, trade agreement delay

Oil fell after a report that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month. More »

Brazil’s ‘disaster’ oil auction scares bidders away, dings currency

Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petrobras did most of the bidding while other major oil companies stayed away. More »

Diamondback Energy joins ranks of struggling shale operators

Diamondback Energy Inc. said it’s fundamentally changing the way it forecasts future growth after becoming the latest Permian basin shale producer to hit operational hurdles. More »

Variable Bore Rams adds new dual-string interlocking shear rams to inventory

Variable Bore Rams Inc., the largest original equipment manufacturer ram and blowout preventer component provider in the world, has added Cameron’s new dual-string interlocking (DSI) shear rams to its inventory. More »

Shale oil pioneers say the boom times are over

The days of relentless production growth from U.S. shale oil fields are ending, potentially aiding OPEC’s years-long effort to drain a worldwide supply glut, according to industry pioneers Scott Sheffield and Mark Papa. More »

RussellSmith picks Saab Seaeye ROV for Africa operations

“The Cougar is an ideal choice,” says RusselSmith CEO, Kayode Adeleke. “It is a powerful, highly maneuverable and capable ROV and we believe it will add a lot of value to our deepwater operations.” More »

Equinor and partners tally Echino South find in the North Sea

Equinor and partners ExxonMobil, Idemitsu and Neptune have discovered oil and gas in exploration well Echino South, 35/11-23, by the Fram field in the North Sea. More »

Wood launches technical consulting solutions unit

Wood announced the creation of a new Technical Consulting Solutions (TCS) business unit, combining its diverse, multi-sector and technology-enabled specialist advisory and consulting capabilities into one global business. More »

Shale pioneer Chesapeake warns it may not survive low gas prices

Reflecting growing pain across the energy sector, the Oklahoma-based company’s shares and bonds tumbled Tuesday after it said it may not be viable as a “going concern” if low oil and natural gas prices persist. More »

Shale pioneer Chesapeake warns it may fall victim to natural gas slump

Reflecting growing pain across the energy sector, the Oklahoma-based company’s shares and bonds tumbled Tuesday after it said it may not be viable as a “going concern” if low oil and natural gas prices persist. More »

Natural gas coalition reports 41% decrease in methane intensity

“Our members have made great strides in reducing their methane intensity, even as production and throughput increased; these numbers prove that natural gas can be a clean, sustainable fuel, meeting the energy needs of our country and around the globe for years to come," said Richard Hyde, executive director of ONE Future. More »

Brazilian service company association elects new board members

The Brazilian Association of Petroleum Services Companies (ABESPetro) has elected new board and fiscal council members for its 2020/2021 session. More »

Oilfield Helping Hands to host its Oklahoma Chapter Fall Sporting Clays Tournament

Oilfield Helping Hands will be host its Oklahoma Chapter Fall Sporting Clays Tournament on November 15, 2019, at Quail Ridge Sporting Clays, 2401 S. McLoud Rd., McLoud, Oklahoma 74851. More »

Sparrows doubles UAE operations after securing £55m in contracts

Sparrows Group has doubled the size of its operations in the UAE after securing contracts worth in excess of £55 million in the past three months. The awards have resulted in more than 150 new positions being created in the region. More »

Saudis hike light crude prices, driven by high IMO 2020 demand

Saudi Arabia has priced its lighter crude at the widest premium to heavier oil in almost two years as new rules mandating cleaner shipping fuels drive demand for less-sulfurous grades. More »

OPEC predicts U.S. shale will steal market share for years to come

OPEC slashed estimates for the amount of oil it will need to pump in coming years, projecting that its share of world markets will shrink until the middle of the next decade amid a flood of U.S. shale supplies. More »

Ecuador’s oil expansion plans halted by protests, sabotage

Ecuador’s plan to boost its economy by attracting foreign oil investment is falling victim to heavy resistance from indigenous groups newly empowered by the protests that rolled across the nation last month. More »

Shell buys offshore wind developer in renewable power expansion bid

The oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so far have been on acquiring retail customers, through the purchase of a UK utility and an electric car charging company. More »

Oxy to cut Permian spending as Anadarko purchase dents earnings

Oxy pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko. More »

Chevron Technology Ventures backs Calgary-based pipeline inspection innovator

Ingu Solutions, a Calgary-based technology company whose Pipers technology is dedicated to the pipeline inspection industry, announced it raised growth capital from Energy Innovation Capital and Chevron Technology Ventures. More »

Oil climbs to six-week high on signs of trade war resolution

Futures advanced as much as 1.8% on Monday in New York. Chinese government officials are considering locations in the U.S. where leader Xi Jinping would meet U.S. President Donald Trump to sign a trade accord, people familiar with the plans said. More »

MOL Group buys stakes in Azerbaijan’s ACG field and BTC pipeline

MOL has signed an agreement with Chevron Global Ventures Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated EandP and mid-stream interests in Azerbaijan, for total consideration of $1.57 billion. More »

Abu Dhabi plans its own price benchmark for a fifth of the world’s crude

Abu Dhabi will begin trading futures contracts of its flagship oil grade in what could eventually become a new price benchmark for a fifth of the world’s crude. More »

Paradigm Group expanding Middle East, Mexico teams to meet service demand

Paradigm Drilling Services has recently expanded their teams in the Middle East and Mexico to service increasing drilling equipment demand. More »

Subsea 3D scanning specialists enter decommissioning market with double contract win

Viewport3 is entering the decom market after securing two pre-removal scanning contracts for North Sea projects with two major operators. More »

Shearwater wins Total 2D acquisition project offshore South Africa

Shearwater GeoServices has been given a conditional letter of award for a 2D seismic acquisition and fast-track processing project by Total EandP South Africa B.V. More »

Halliburton becomes anchor member of Singapore’s ARTC tech-sharing platform

Halliburton has signed a strategic agreement with Singapore’s Advanced Remanufacturing and Technology Center (ARTC) to become an anchor member, enabling collaboration across industries with research and development projects that will advance next-generation technologies. More »

Oxy CEO to face investor scrutiny on Anadarko merger plan

Vicki Hollub is set to face investors for the first time since leading Occidental Petroleum Corp.’s controversial $37 billion purchase of Anadarko Petroleum. More »

Permian surge helps Exxon and Chevron weather oil slump

America’s two biggest oil majors are leaning on booming shale production in the Permian basin to weather the gathering macroeconomic storm of lower oil demand, weak commodity prices and slowing global growth. More »

New York struggles to show Exxon misled investors on climate

New York rested its securities-fraud case against Exxon Mobil after nine days of trial testimony without appearing to produce any definitive evidence that the oil company intentionally misled investors about how it accounted for climate-change risks. More »

Exxon, Chevron begin pushing back against Warren’s fracing ban

Exxon Mobil and Chevron executives spoke out publicly against the proposals for the first time on Friday, saying they would shift profits from production from the U.S. to other countries, increasing prices for consumers while doing nothing to reduce oil demand or greenhouse-gas emissions. More »

UK bans fracing on concern about earthquakes

The move, just weeks ahead of a general election, effectively bans new wells using hydraulic fracturing technology. More »

Kosmos makes new oil discovery offshore Equatorial Guinea, says minister

The S-5 well was drilled to a depth of 4,400 meters and encountered 39 meters of net oil play in the Santonian reservoir in the offshore Rio Muni Basin, the Ministry of Mines and Hydrocarbons said in an emailed statement. More »

OneSubsea wins industry’s longest deepwater tieback project for Ormen Lange

The compression system will be powered and controlled from the Nyhamna onshore gas processing plant, which is 120 km from the subsea location. This tieback distance is also a world record for transmitting variable speed power from an onshore facility to equipment on the seabed. More »

Giant Brazil offshore oil find might be expensive for Exxon

“Whether or not we participate, it would be wrapped up in how we would see that opportunity versus all the other investment options, because there are a lot of investment options out there right now,” said Stephen Greenlee, Exxon's president of exploration. More »