Exxon, Chevron disappoint investors in “challenging” market

Exxon Mobil and Chevron posted the weakest results in years because of disappointing results in almost all of their business lines. More »

Equinor and Shell partner on Vaca Muerta acreage buy

Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province. The consideration for each partner for their 24.5% interest is USD 177.5 million. More »

Stalled billion-dollar shale gas pipeline gets backing from top U.S. regulator

PennEast had sought the support of the Federal Energy Regulatory Commission after a court decision prevented it from exercising eminent domain in New Jersey. Its developers -- which include Enbridge Inc. and Southern Co. -- argued the ruling overturned 80 years of industry practice. More »

Cargoes pile up as Chinese demand for Latin American oil grinds to a halt

Sales of Latin American oil cargoes to China have ground to a halt this week as the deepening crisis around the coronavirus further stifles an already quiet holiday period. More »

Oil sands capital spending set for first gain since 2014 crash

Capital spending in the world’s third-largest crude reserves is projected to rise 8.4% to C$11.6 billion ($8.8 billion) this year, according to the Canadian Association of Petroleum Producers, the industry’s main lobbying group. More »

Equinor taps Subsea Integration Alliance for Bacalhau FEED project offshore Brazil

Schlumberger announced an award to Subsea Integration Alliance of an exclusive contract by Equinor for the front-end engineering design (FEED) on its Bacalhau (formerly Carcará) project offshore Brazil. More »

OPEC may meet early as coronavirus impacts oil prices

OPEC members are considering holding an emergency meeting next month, as oil prices sink on concern the coronavirus outbreak will hit demand. More »

Pemex rejects Talos claim to majority of 670 MMboe Zama field

Mexico’s government-owned oil company just laid claim to most of the country’s biggest private discovery, putting it on a collision course with the U.S. firm that made the find five years ago. More »

Oil and gas industry contracts, production still increases in Texas during 2019

According to the Texas Alliance of Energy Producers (TAEP) Texas Petro Index (TPI), 2019 was a year of contraction in the Texas upstream oil and gas economy. This is the key finding enunciated by TAEP Executive Vice President and Economist Karr Ingham during a briefing for industry media in Houston on Tuesday. More »

Canadian oil surges on inventory draw and a price pledge from Alberta’s premier

Canadian crude rebounded from a one-year low after inventories fell and Alberta’s premier pledged to defend prices. More »

EIA: U.S. to remain net exporter through 2050 through technology-enabled growth

In its Annual Energy Outlook 2020 report, the EIA sees production growth outpacing growth in domestic consumption of crude oil, petroleum products, and natural gas, causing U.S. net exports of these fuels to increase. More »

Edge LNG to capture and liquefy Marcellus gas unreachable by pipeline

The deal sees Edge LNG deploy its fully mobile, truck-delivered liquefied natural gas equipment clusters to the Marcellus site and each cluster includes two Cryobox liquefaction units. More »

Oceaneering and Aquaterra Energy ink decommissioning collaboration

Under the agreement, the companies will offer tooling and services in four distinct areas: platform well abandonment, subsea well abandonment, topside and jacket removals and subsea removals. More »

Ovintiv faces investor test on shale after rebranding from Encana

Now based in Denver, Ovintiv Inc. will update investors Wednesday on its progress for the shale oil assets in Oklahoma it amassed after the $5.5 billion acquisition of Newfield Exploration Co. in 2018. More »

Tankers leave Libya without cargoes as export blockade drags on

Tankers have begun to leave Libyan ports without cargoes after waiting for days for the end of a blockade of the country’s export terminals by forces loyal to Libyan commander Khalifa Haftar. More »

Yemeni rebels claim new drone attacks on Saudi Aramco

Yemen’s Houthi rebels claimed that they launched attacks with missiles and drones on Saudi Aramco in the kingdom’s southern Jazan region. More »

Oil extends recovery as traders reassess virus threat to demand

Oil continued its recovery from a three-month low as traders reassessed the threat to demand from China’s coronavirus, and as U.S. industry data showed a drop in crude inventories. More »

Oilfield Helping Hands to host 2nd Annual Black Gold Bash benefit concert in Midland, Texas

Oilfield Helping Hands (OHH) and Roseland Oil and Gas are holding the 2nd Annual Black Gold Bash: a benefit concert featuring Randy Rogers Band and The Hamiltons on March 25, 2020, at Midland County Horseshoe Amphitheatre. More »

Cyberattacks linked to Iran appear to target Bahrain Petroleum Co.

An Israeli cybersecurity firm has identified a new type of ransomware that it believes was created by Iran and has the ability to lock up or even delete industrial control systems. More »

Performance management software reduces gas emissions in marine operations

French marine offshore and performance management company Opsealog announced its 2019 Environmental Impact results, having achieved a 10% reduction in gas emissions related to marine offshore operations in partnership with its EandP clients. More »

Daily Brief podcast, Tuesday, January 28th

In today's episode, Michael Porier, managing director of business and technology consulting firm Protiviti, discusses the evolving cyber security risks associated with digital transformation, and how energy companies can proactively mitigate these risks. More »

Senegal launches its first offshore license round

The first-ever licensing round comprises 12 blocks in the MSGBC basin, offshore Senegal. Companies will be able to submit bids over the coming six months, with final applications delivered to the Ministry of Petroleum and Energy at the latest by Friday, July 31st, 2020. More »

Texas Railroad Commission launches two more interactive statewide data maps

The Railroad Commission of Texas launched two more interactive data maps showing oil and gas drilling permit approvals and the number of wells spudded. Information is displayed by counts, operators, county locations and on a statewide level. More »

Total faces more than a dozen lawsuits in France over carbon targets

Total is being sued by 14 local governments and a handful of non-governmental organizations in France for not doing enough to reduce its carbon emissions and fight global warming. More »

Libya’s oil output just days away from complete stoppage

Libya’s oil output could be days from coming to a complete halt as conflict in the OPEC nation puts the country’s most vital industry at risk, the nation’s top oil official said. More »

BP’s Dudley warns against moving too fast on climate goals

BP’s outgoing CEO Bob Dudley warned Big Oil of moving too fast on investing in new technologies to counter climate change, because their failure could lead to financial ruin. More »

Exxon at a 10-year low shows challenges for oil’s biggest major

Once the gold-standard of Big Oil, the stock closed Monday at its lowest since October 2010, amid a slump in oil prices due to concerns about weak demand coupled with a glut. More »

Fueltrax earns EU and IMO vessel tracking certification by Verifavia

Verifavia Shipping has certified FUELTRAX, against the European Union’s (EU) Monitoring Reporting and Verification (MRV) regulation requirements and IMO Data Collection System (DCS). More »

This year’s other big climate election is for a Texas oil and gas official

An election held in the U.S. in 2020 could do a lot to shape global climate outcomes in the immediate future. It won’t feature Joe Biden, Bernie Sanders, or Elizabeth Warren, and the winner won’t live in the White House. More »

Petroleum Economist named official publisher for the 23rd World Petroleum Congress

The 23rd World Petroleum Congress will provide the platform for open dialogue between consumers and producers, governments and industry, academia and financiers, leaders and society, in order to address these issues and present debates, developments and solutions for sustainable production and use of the world's energy resources. More »

Oil traders made billions in 2019 as conflict shook the market

The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market. More »

Energy stocks slump again on China virus fears

Energy stocks have quickly reverted to being among 2020’s worst performers as fears increase that China’s deadly coronavirus will hit oil demand. More »

Venezuela weighs privatizing oil as it faces economic freefall

Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of its oil industry to big international corporations, a move that would forsake decades of state monopoly. More »

Daily Brief podcast, Monday, January 27th

Daily Brief podcast, Monday, January 27th More »

EIA says growth of U.S. crude production will slow through 2021

EIA forecasts production will continue to grow as rig efficiency and well-level productivity rise, offsetting the decline in the number of rigs until drilling activity accelerates in 2021. More »

ExxonMobil’s latest discovery raises Guyana recoverables above 8 billion barrels

ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block. More »

This year’s other big climate election is for a Texas railroad bureaucrat

An election held in the U.S. in 2020 could do a lot to shape global climate outcomes in the immediate future. It won’t feature Joe Biden, Bernie Sanders, or Elizabeth Warren, and the winner won’t live in the White House. More »

Oil falls to three-month low as virus spread raises demand fear

Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply. More »

Brazil stays out of OPEC to maximize its output expansion

Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC. More »

Oil shutdown a ‘bullet in the head,’ says Libyan central bank

Libya’s Central Bank Governor Sadiq Al-Kabir called on the international community to help end a week-long shutdown of oil ports by eastern military commander Khalifa Haftar, likening the closures to a “bullet in the head.” More »

As shale investors fade, EnCap taps $6 billion war chest to keep drilling

EnCap Investments LP plans to use a $6 billion war chest to drill oil and natural gas wells, now that dwindling investor interest has made it tougher for private equity players to offload shale assets. More »

EIA: U.S. crude production from tight formations continues to grow

U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production, thanks to the increasing productivity of new wells that were brought online during 2019. More »

Offshore aviation heavyweights Bristow, Era merge

Offshore aviation transportation companies Bristow Group and Era Group announced that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification. More »

U.S. sanctions energy traders, tightening the screws on Iran

The U.S. sanctioned four companies that it says have traded hundreds of millions of dollars worth of Iranian petroleum and petrochemicals in its latest effort to clamp down on the Islamic Republic’s revenue sources. More »

Global oversupply sets up LNG for a year of record low prices

Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption. More »

World Oil Daily Brief podcast, Thursday, January 23rd

Oil hits a two-month low as the Asian virus threatens demand, one of the best-known shale bankers tells Houston to embrace the energy transition, and continued Mediterranean tension has tankers piled up off Libya's coast. More »

Investors wary as AMLO slowly dismantles Mexican energy reforms

Andres Manuel Lopez Obrador, who swept into power in Mexico after promising big changes in the country’s energy markets, has been careful not to spook investors by canceling past reforms outright. More »

Exxon looks to divest UK, German upstream assets

Exxon Mobil plans to start gauging buyer interest in its UK and German upstream operations in the coming weeks as the oil major continues to divest overseas assets, people with knowledge of the matter said. More »

EIA expects U.S. net natural gas exports to almost double by 2021

The U.S. Energy Information Administration forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 Bcfd in 2020 (2.0 Bcfd higher than in 2019) and 8.9 Bcfd in 2021. More »

Tullow and Total retain Natixis to sell Kenyan oilfield stakes

Tullow Oil and Total have started the process to sell part of their stakes in oil discoveries in Kenya, said people familiar with the matter. More »

Worley lands FEED contract for Total’s 20,000 psi North Platte field development

The North Platte Development forms part of Total’s reentry, as an operator, into Gulf of Mexico operations with oil production expected to average 75,000 bpd at plateau level. More »

AVEVA adds prescriptive maintenance to its asset performance management toolset

The integrated solutions will empower the workforce to execute prescriptive guidance across engineering, operations and maintenance resulting in improved efficiency, safety and reliability. More »

TMC bags ALS compressor contract for seven LNG newbuilds

TMC Compressors of the Seas has been awarded a contract by Hyundai Heavy Industries to deliver its air lubrication system compressors to seven LNG carriers the Korean shipbuilder is constructing for Capital Gas Corp. More »

Norway’s recent oil investment boom probably also its last

Western Europe’s biggest oil and gas producer just witnessed its final investment boom, according to Norway’s largest bank. More »

Phillips 66 CEO Greg Garland named chairman of API

The American Petroleum Institute announced that Phillips 66 Chairman and CEO Greg Garland will serve as chairman of API’s board of directors for a two-year term. More »

Oil leaders at Davos debate tougher CO₂ cuts as pressure mounts

The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos on Wednesday, a sign of how much pressure they’re under from activists and investors to address climate change. More »

Kuwait to resume oil output in area shared with Saudis by March

Kuwait plans to restart oil production by March at the Wafra field that it shares with Saudi Arabia, more than four years after the neighbors halted output. More »

U.S. shale has already peaked for major service companies

U.S. shale oil fracking has already peaked and is in a period of sustained contraction, according to two major providers of services to the industry. More »

U.S. anti-OPEC efforts fading as cartel’s influence seen waning

U.S. efforts to rein in OPEC’s influence over global oil markets are losing momentum as the Trump administration takes a wait-and-see approach to energy prices. More »

Minister says international stock listing for Aramco possible

Saudi Aramco is still considering listing shares abroad, the kingdom’s Finance Minister Mohammed Al-Jadaan said. More »

Oil slips on concerns new virus may curtail demand

Oil declined on concerns that a coronavirus outbreak in Asia could spread and curtail demand in a market that’s already contending with plentiful supplies. More »

World Oil Daily Brief podcast, Tuesday, January 21st, 2020

At Davos, energy chiefs tout CO2 capture technologies while Greta Thunberg slams progress; the U.S. shale industry has already peaked for service companies; and oil claws back some recent losses following prolonged unrest in Libya. More »

EIA forecasts crude prices will fall in the next six months, then rise through 2021

EIA expects that crude oil prices will remain elevated in the first few months of 2020, reflecting a price premium on crude oil from recent geopolitical events. However, this price premium will diminish in the first half of 2020, and market fundamentals will drive the crude oil price forecast in the second half of 2020 and in 2021. More »

McDermott to file Chapter 11 today, plans to sell Lummus unit

The Houston-based company said that it has the support of two-thirds of the holders of its funded debt in a pact that will eliminate more than $4.6 billion of debt by swapping it for equity, according to a statement. More »

Oil prices dip as global stockpiles buffer Libya disruption

Oil fell as global markets remain comfortably supplied despite the suspension of exports from Libya, and as equities faltered on political and economic worries in Asia. More »

Saudi Aramco grants Wood a two-year extension on unconventionals program

Wood has secured a two-year extension to its in-Kingdom and out-of-Kingdom contracts with Saudi Aramco’s subsidiary, Aramco Overseas Company for its unconventional gas program, extending awards originally secured in 2014. More »

U.S. calls for immediate resumption of Libyan oil production

The U.S. embassy in Libya called Tuesday for an immediate resumption of oil production, increasing pressure on eastern strongman Khalifa Haftar, who has disrupted output in a show of defiance to world leaders pushing to end the North African country’s civil conflict. More »

North Sea producer Siccar Point receives multiple buyout offers

Siccar Point Energy Ltd., the North Sea oil producer backed by Blackstone Group Inc., has received final bids from suitors including Chrysaor Holdings Ltd. and Equinor ASA, people with knowledge of the matter said. More »

Russia plans to show OPEC+ compliance by excluding a key metric

For the first time in Russia’s alliance with OPEC, the country is changing the way it makes oil-production cuts. More »

BP's new generation takes control as CFO Gilvary retires

BP handed more power to a new generation of executives, announcing that Chief Financial Officer Brian Gilvary will join his boss Bob Dudley in retiring this year. More »

World Oil Daily Brief podcast, Monday, January 20th, 2020

In today's podcast, one of the three energy forecasting agencies is completely wrong, the EU considers military intervention as Libyan oil output stops, and Republican lawmakers plot their own 'green' strategy to reach young voters. More »

Weather and rising inventory drive natural gas to lowest seasonal price in 30 years

The lowest seasonal price on record going back to 1990 has been driven by the continued absence of a cold U.S. winter and an oversupplied global market. More »

In the battle for the world’s biggest oil market, the U.S. has a new advantage

The U.S.-China trade agreement is set to intensify the battle for the world’s most prized oil market. More »

Maersk Drilling wins contract extension for low-emissions rig offshore Norway

In direct continuation of the rig’s current workscope, Maersk Integrator will move to the Ivar Aasen field offshore Norway to drill two wells, with work expected to commence in October 2020. More »

With Libya’s oil blocked, EU urged to take more active role

The European Union’s foreign policy chief said member states will need to take a more active role in Libya if yesterday’s peace conference in Berlin is to bring stability to the country and help get its oil flowing again. More »

Crude prices jump on Libya export blockage, Iraq disruptions

Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq. More »

McDermott said to file bankruptcy as soon as this week

Late last year the company secured part of a $1.7 billion rescue financing package and entered into a forbearance agreement with some of its lenders, but that relief period expired January 15th. More »

Libyan oil production halts in advance of talks to end civil war

Libya’s output has plunged by about 800,000 barrels a day from 1.174 million since an eastern military commander, Khalifa Haftar, blocked exports at ports under his control, according to a statement on Saturday from the state-run National Oil Corp. More »

Chevron gets another extension to continue Venezuela operations

Chevron and four oilfield service providers won U.S. government approval to continue working in Venezuela for 90 days, allowing the companies’ access to the world’s largest reserves of crude despite sanctions on the crisis-stricken country. More »

America is awash with natural gas, and it’s about to get worse

Prices briefly dipped below $2 /MMbtu on Friday for the first time since 2016, yet the industry is powerless to stop a wave of additional gas hitting the market as a byproduct of rising shale oil output. More »

Panhandle Oil and Gas approves new CEO

Panhandle Oil and Gas announced that Chad L. Stephens was approved as CEO of Panhandle, effective Jan. 16, 2020. Stephens was previously interim CEO and currently serves as a member of Panhandle's board of directors. More »

Venezuela’s demand for oil payments in cryptocurrency halts purchases

Some buyers of Venezuelan crude oil have halted purchases after the country started demanding payment of port fees in its failed cryptocurrency, calling it a "scam." More »

New offshore projects revitalize flagging Angolan oil production

Oil production in Angola has slumped by a third in the past decade to less than 1.4 million barrels a day, reflecting years of underinvestment in new projects. More »

Decline in DUC backlog shows scale of U.S. shale pullback

As the U.S. shale boom unfolded, the number of oil wells that were drilled but never opened for production steadily rose. Now, that figure has plunged by a surprising 10% in the newest sign yet of tough times for drillers. More »

Turkey to issue exploration licenses in contested waters, straining EU ties

Turkey will issue new exploration licenses in the eastern Mediterranean now that it’s set a maritime border with Libya, President Recep Tayyip Erdogan said Thursday, a step liable to exacerbate strains with Greece and the European Union. More »

National Academy of Sciences awards grants to advance safety culture in offshore oil and gas

The Gulf Research Program (GRP) of the National Academies of Sciences, Engineering, and Medicine today announced $7.25 million in grant awards for eight projects focused on strengthening safety culture in the offshore oil and gas industry. More »

Petrofac wins EPIC wind farm contract offshore Scotland

Petrofac has entered into a preferred supplier agreement with SSE Renewables to design, supply and install the HVAC onshore and offshore substations for the Seagreen wind farm project. The wind farm will be located 27 kilometers off the coast of Angus and once constructed will be the largest in Scotland. More »

Energy Web Atlas launches EWA Techlink spatial research tool

Gulf Energy Information announced the availability of EWA TechLink, a new spatial research tool pairing comprehensive technical content with detailed project data. More »

TerraSond lands 7th NOAA hydrographic survey contract

The new contract was effective January 1, 2020, with a maximum value of $250 million over 5 years, subject to appropriation by Congress. More »

Oil advances on optimism sparked by historic U.S.-China trade agreement

Oil rose to the highest in more than a week as the preliminary trade truce between the U.S. and China fanned optimism about economic growth. More »

Cold blast freezes Canadian oil sands solid, forcing lower prices

Temperatures of -30 degrees Celsius (-22 Fahrenheit) and lower have descended on Alberta and Saskatchewan -- cold enough to render the region’s viscous oil rock solid. More »

Iraq oil supplies vulnerable as Mideast tensions flare, IEA says

Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned. More »

API urges further U.S. – China negotiations to lift all tariffs

“The phase one trade deal reached between the U.S. and China is a positive step forward, creating greater certainty across the American economy,” API President and CEO Mike Sommers said. More »

Chinese imports of U.S. oil to pick up following Trump’s trade deal

Under the terms of the agreement, U.S. energy exports to China will jump over the next two years, with the promise of an additional $18.5 billion worth of additional purchases in 2020 and $33.9 billion in 2021. More »

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices. More »

Shale discipline could slow U.S. oil output growth by 50% this year

U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch. More »

Tullow to take $1.5 billion charge after a difficult year

The pretax sum of impairments and exploration write-offs reflects a lower oil-price forecast and a cut in reserves at a field in Ghana. More »

Trelleborg expands fluid handling capabilities with Signum Technology acquisition

The move is part of Trelleborg’s strategy to strengthen its position as a system provider in key oil and gas market segments, such as ship-to-ship and ship-to-shore LNG transfer. More »

Trump’s ‘beautiful’ China trade deal mandates purchase of U.S. oil and gas

While trade pacts traditionally set the rules and leave the details of actual commerce to markets, the one that Trump’s team has negotiated includes a classified annex that details $200 billion in Chinese purchasing categories. More »

Israeli gas finally reaches Egypt as mega deal bears fruit

Egypt began receiving natural gas from Israel, enacting a deal initially worth $15 billion that’s part of the North African country’s plan to become an energy re-export hub on Europe’s doorstep. Israeli gas stocks rose. More »

Oil trades near six-week low as U.S. stockpiles rise

Oil traded near a six-week low as industry data showing an increase in U.S. crude stockpiles re-affirmed expectations that global markets will be oversupplied in the first part of the year. More »

Total taps Maersk Drilling for depth-record-setting Angola-Namibia campaign

The well in Angola’s Block 48 will be drilled at a new world record water depth of 3,628 m. The current world record is 3,400 m, set by Maersk Voyager’s sister drillship Maersk Venturer when it drilled the Raya-1 well for Total offshore Uruguay in 2016. More »

Gardner Denver field trials new Thunder 5000 HP Quintuplex pump

Gardner Denver Petroleum and Industrial Pumps has entered into a six-month field trial of its new Thunder 5000 HP Quintuplex pump, at STEP Energy Services in Alberta, Canada. More »

Senegal launches new 2020 offshore licensing round

PETROSEN has partnered with TGS, GeoPartners and PGS to provide over 14,000 km of 2D data, over 10,000 km² of 3D data and over 50,000 km² of Multibeam data with associated shallow cores and geochemistry, to interested parties. More »

James Fisher Subsea Excavation merges with James Fisher Offshore

The merger brings the leading subsea excavation service company with the world’s largest range of in-house excavation equipment, experience and expertise, under the banner of James Fisher Offshore. More »

Gazprom Neft establishes digital development JV for Russian, global markets

The development strategy for the new joint venture is aimed at addressing the challenge of digitally transforming the oil and gas sector through the application of Industry 4.0 technologies. More »

Emerson introduces real-time corrosion interpretation and analysis system

Emerson has introduced The Plantweb Insight Inline Corrosion application to provide the oil and gas industry real-time interpretation and analysis of critical data that helps prioritize maintenance and make informed integrity decisions. More »

Neptune Energy awarded 13 licenses in Norway’s continental shelf

Odin Estensen, managing director of Neptune Energy in Norway, said “The awards support our strategy to grow operatorship and acreage in and around our core areas. Through this latest licensing round we have secured four more awards than in 2019, a record for our company in Norway.” More »

Crosby acquires offshore mooring specialist Feubo

The Crosby Group, a leader in lifting, rigging, and material handling hardware, has completed its acquisition of Feubo, a leader in offshore mooring components for the oil and gas and wind energy markets. More »

Equinor awarded 23 new production licenses on the Norwegian continental shelf

“The award enables us to mature new prospects and prove profitable resources that can be developed within the scope of our new climate roadmap for the Norwegian continental shelf,” said Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK. More »

Sparrows lands five-year inspection contract in Kazakhstan

Sparrows Group has secured a five-year contract with Tengizchevroil to deliver specialist lifting inspection services for the Tengiz field in Kazakhstan. More »

Canadian gas prices rise after new pipeline rules dampen volatility

Canadian natural gas is trading at the highest price relative to U.S. benchmarks in about 10 months after producers cut back on drilling and a rule change on a key Alberta pipeline system last year helped better manage flows of the fuel. More »

Stress Engineering Services acquires Laserstream

The acquisition will provide high-resolution pipe ID scanning hardware and imaging software while enhancing SES’s competencies within upstream, midstream, downstream, aerospace, consumer and medical services. More »

Texas processing drilling permits at record pace

For two years in a row since 2018, Railroad Commission of Texas staff have set a historic record of taking just two days on average to process standard drilling permits, one day below the legislative requirement. More »

OPEC+ members stay focused on production cuts despite Mideast unrest

Saudi Arabia’s energy minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East. More »

ADNOC, Pertamina ink partnership for Indonesian infrastructure and LNG supply

The agreements signed with Pertamina and Chandra Asri will potentially help ADNOC to secure additional in-market presence in one of Southeast Asia’s fastest-growing economies, enabling new domestic value-creation opportunities across the hydrocarbon chain. More »

Mexico makes oil hedge data a state secret to thwart speculators

Mexico has made key data on its sovereign oil hedge a state secret to shield the information from speculators and prevent cost increases, according to official documents seen by Bloomberg. More »

Norway’s Barents Sea ambitions fading as more projects disappoint

Norway’s vision of establishing a new major oil province off its northern tip has suffered another blow. More »

China’s top oil firm sees demand growth cut in half in 2020

The world’s biggest oil import market could see demand growth in 2020 of just half of last year’s levels as the trade war’s ripple effects continue to be felt, according to researchers at China National Petroleum Corp. More »

New York won’t appeal its defeat in Exxon climate trial

New York said it won’t appeal a ruling by a judge who last month rejected the state’s claim that Exxon Mobil Corp. misled investors for years about the energy company’s internal planning for risks linked to climate change. More »

Hedge fund that won big shorting U.S. shale is bullish on Canada

After big wins shorting U.S. shale, a hedge fund is turning its sights on the beaten-down Canadian oil sector. More »

Oil set for biggest weekly loss since July as Mideast risk eases

Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies. More »

One of the best Permian investments doesn’t produce any oil

Texas Pacific Land Trust, a land bank that doesn’t produce oil, is one of the best ways for investors to gain exposure to the world’s largest shale field, according to Stifel Financial Corp. More »

Parsley Energy boss says shale will finally deliver returns this year

This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry’s decade-long cash burn, the head of Parsley Energy said. More »

Noble hooks Maersk Valiant for offshore Colombia campaign

Maersk Drilling has been awarded a contract for the 7th generation drillship Maersk Valiant which will be employed by Noble Energy for a one-well campaign offshore Colombia. More »

Texas AandM researchers create advanced drilling advisory system that opens door to autonomous drilling

The U.S. Department of Energy Small Business Innovation Research Program has awarded a Phase I grant to E-Spectrum Technologies and Dr. Eduardo Gildin, associate professor in the Harold Vance Department of Petroleum Engineering at Texas AandM University, to create an advanced advisory system that accurately depicts underground conditions in real time during drilling operations. More »

Canada’s Cenovus joins oil-sands producers targeting net zero emissions

Cenovus Energy Inc. joined some of its oil-sands peers in setting a goal of reaching net-zero emissions from its operations, part of a push to improve the industry’s reputation and win over environmentally minded investors. More »

Oxy conducts “voluntary reductions” and layoffs across its U.S. land operations

Occidental Petroleum began sweeping job cuts at multiple U.S. locations this week, including what a representative called voluntary reductions and outright layoffs, as the company seeks to reduce debt. More »

South Sudan tenders environmental study following “years of neglect” of its oil sector

South Sudan's President, Salva Kir, seeks to reverse the "lack of environmental standards and guidelines" in its oil and gas activities, as the East Central African nation seeks to ramp up production. More »

Saudis to free up more crude for export by building solar power plants

Saudi Arabia is seeking companies to build four solar power plants as the Persian Gulf oil giant resumes its renewable energy push. More »

China offers access for foreign oil and gas explorers as part of U.S. trade deal

China said it will open up oil and gas exploration to private and foreign firms, offering further details of a policy that will help assuage concerns over access to the industry ahead of next week’s signing of an interim trade deal with the U.S. More »

Equinor to extend Statfjord field life with 100 new wells

Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040. More »

Oil steadies after giving up gains from U.S.-Iran hostilities

Oil steadied after rapidly shedding all of its gains from the clash between the U.S. and Iran, as traders waited to see whether any further hostilities will disrupt exports from the Middle East. More »

Despite Trump’s claim, the U.S. still needs some Middle East oil

President Donald Trump said during an address from the White House Wednesday that the U.S. no longer needs oil from the Middle East, but American refineries still use the kind of oil that region produces. More »

Canadian crude weakness returns after Alberta eases output limits

Alberta’s government has loosened output limits imposed at the start of 2019 to counter a glut caused by a lack of pipeline capacity and too much oil production. Before the cuts, Western Canadian Select’s discount to WTI has grown as wide as $50 a barrel. More »

Mexico’s president nixes oil auctions, plans to review green energy subsidies

Mexican President Andres Manuel Lopez Obrador said officials would announce a plan by mid-February that would make clear how private companies could participate in the nation’s energy sector. More »

CGG exits marine seismic acquisition business, kicks off marine streamer JV

CGG announced that it has completed its exit from the marine seismic acquisition business, following the earlier wind-down of its land seismic acquisition activities. More »

Blackbuck Resources expands team to support Midland and Delaware basin growth

Blackbuck Resources LLC, a company focused on designing, building, and operating water infrastructure for the oil and gas industry, has expanded its executive management team to support growth initiatives across its Midland and Delaware basin platforms. More »

Oil rally cools as Iranian strike causes no U.S. casualties

Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general. More »

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas EandP UK, and NEO Energy – to establish its new North Sea operation following its recently announced asset acquisition. More »

Oil shippers raise offers for Middle East route on Gulf risk

Owners of oil tankers are boosting their rates to haul crude on a key route from the Middle East as risks in the Gulf escalate after Iran retaliated against the U.S. killing of a top general. More »

TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS announced the purchase of all U.S. onshore petrophysical log database and associated intellectual property from Petrophysical Solutions, Inc. More »

Oil surges as Iran says it attacks Iraq base housing U.S. troops

Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies. More »

Liberia to offer nine offshore West Africa blocks in new licensing round

The Liberia Petroleum Regulatory Authority has announced the launch of its next offshore licensing round in the Harper basin, one of the last unexplored and undrilled regions offshore West Africa. More »

Reshaped OGUK announced as industry gears up to deliver net zero blueprint

The leading representative body for the UK offshore oil and gas industry has kicked off the new year with plans to champion the sector as part of a diverse energy mix. More »

Oil producers locking in price gains from Middle East tension

The hedging may extend a lifeline to producers, allowing them to maintain higher output at a time when analysts are expecting growth to slow. More »

Oil falls after surging to thee-month high on U.S.-Iran clash

Oil fell from a three-month high in London as traders waited to see whether the clash between the U.S. and Iran would lead to a disruption in Middle East crude supplies. More »

Apache and Total tally significant oil find offshore Suriname

The Maka Central-1 well successfully tested for the presence of hydrocarbons in multiple stacked targets in the upper Cretaceous-aged Campanian and Santonian intervals and encountered both oil and gas condensate. More »

Liberia to offer nine offshore West Africa blocks in new license round

The Liberia Petroleum Regulatory Authority has announced the launch of its next offshore licensing round in the Harper basin, one of the last unexplored and undrilled regions offshore West Africa. More »

AIS Training and Survivex land Well-Safe Solutions training management contract

The three-year contract will see AIS Training and Survivex deliver hundreds of industry-accredited technical and safety critical courses, as well as providing online training management software and competency management software. More »

API takes on Democrats’ climate plans in new TV campaign

The oil industry’s top lobbying group on Tuesday is launching a campaign to counter attacks from 2020 Democratic hopefuls vowing to phase out fossil fuels. More »

Nissan Chemical nanoparticle treatment delivers EOR results

Nissan Chemical America Corporation has partnered with industrial gas supplier, Messer Americas, to improve oil and gas production. More »

BP reshapes its UK North Sea portfolio with $625 million asset sale

BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea and its non-operating interest in the Shearwater field. More »

Oil buyers fear Iraqi supply hit, in spillover from Iran crisis

Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers. More »

Oxy to spin off Anadarko’s pipeline business in a bid to reduce debt

Occidental Petroleum plans to make the pipeline business it acquired as part of last year’s takeover of Anadarko Petroleum a stand-alone company, removing about $7.8 billion of debt from its balance sheet. More »

Oil touches $70 as supply disruption fears grow

Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia. More »

Equinor targets near-zero emissions in Norway by 2050

In 2050, Equinor expects Norwegian oil and gas production to be less than half of current levels, assuming development of defined projects and substantial efforts to increase production from existing fields and continued exploration. More »

Iran-driven oil rally is a boon to troubled U.S. producers

If the rally in oil prices persists, or if Middle Eastern supplies are cut off, deeply indebted producers could lock in hedges above $60 a barrel. More »

Oil industry braces for more Mideast turmoil after Soleimani killing

“We should all be bracing for a ferocious response,” said Helima Croft, chief commodities strategist at RBC Capital Markets. “The stage is set for a retaliatory spiral that could keep markets on edge well into 2020.” More »

Mexico hedges 2020 crude oil exports at $49 per barrel

Mexico’s government hedged oil exports for this year at an average $49 a barrel, locking in protection against low crude prices, the nation’s Finance Ministry said. More »

Oil soars toward $70/bbl in the wake of strike on Iran’s military leadership

Brent futures surged by more than 4% in busy trading on Friday to levels not seen since the attacks on Saudi Arabia’s oil facilities in September. More »

Permian pipeline competition accelerates as capacity exceeds supply

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could mean cutthroat competition ahead. More »

Halliburton presents major software grant to King Abdulaziz University

Halliburton Landmark presented a multimillion dollar educational software grant to King Abdulaziz University in Saudi Arabia to train and prepare the next generation of Saudi oil and gas engineers and geoscientists. More »

U.S. stock futures fall after airstrike kills Iranian commander

SandP 500 Index futures contracts expiring in March retreated as much as 0.7% after the attack that killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force. More »

Top Iranian commander killed in U.S. airstrike on Trump orders

Qassem Soleimani, who led proxy militias that extended the Islamic Republic’s power across the Middle East, was killed in a strike in Baghdad authorized by Trump, the Defense Department said in a statement late Thursday night. More »

Oil jumps after U.S. strike kills top Iranian commander in Iraq

The strike killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, according to two people familiar with the matter. U.S. Defense Secretary Mark Esper said Thursday that America was ready to deploy more force in Iraq after an attack on its embassy in Baghdad this week. More »

Wellbore Integrity Solutions finalizes fishing and remedial acquisitions from Schlumberger

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OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets. More »

Hess dodges shale decline, leads SandP 500 via ‘fairy tale’ Guyana find

Hess rose above the carnage in shale stocks with a more traditional approach to oil exploration – partnering in a massive offshore discovery in a frontier nation. More »

Pemex’s plan to speed up drilling leads to re-bids for priority fields

A drive to drill new wells at 20 “priority” fields in Mexico largely using smaller, local service providers is faltering, with Pemex expected to re-bid some of the work in the year ahead. More »

Russia’s oil output hits post-Soviet high despite OPEC+ deal

Despite being one of the architects of the original 2016 deal, Moscow has a poor record of fulfilling its pledged production cuts and has come under pressure from its allies to do better. More »

Tullow slumps as Guyana oil find is smaller than expected

The independent oil producer’s first discovery of the new year comes after a calamitous 2019 in which its stock declined 64% and the chief executive officer and exploration chief stepped down. More »

Oil steadies amid Middle East tensions, shrinking stockpiles

Oil steadied after posting its biggest annual gain in three years amid elevated tensions in the Middle East and signs that U.S. crude stockpiles fell further. More »