U.S. rig count falls for ninth week led by Permian cutbacks

The U.S. rig count has fallen for the ninth week in a row with nearly half of this week’s 87 rig drop being accounted for by rigs seeking oil in the Permian basin. More »

Baker Hughes announces release of REAL Connect service

Baker Hughes has announced the commercial release of its REAL Connect service, which leverages superior diverter systems, advanced engineering techniques, and experienced wellsite personnel to help improve hydrocarbon recovery in hydraulic fracturing applications. More »

Obama admin to offer 41 million acres in GoM for March lease sale

WASHINGTON -- U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper have announced that Interior will offer 41.2 million acres for oil and gas exploration and development in the Gulf of Mexico in a March lease sale. More »

Texas swagger fades fast as oil town squeezed hard by OPEC

Back in October, Jill Potts waved off concerns about falling crude prices, pointing to the long lines of trucks forming outside her oil field supply store in South Texas as evidence that the shale boom was still going strong. More »

Saipem bags contract for Kashagan field worth $1.8 billion

Saipem, through its subsidiary ERSAI Caspian Contractor, has been awarded a major new engineering and construction contract for the Kashagan field project, located in the Kazakh waters of the Caspian Sea, valued at approximately $1.8 billion. More »

Statoil deepens spending cuts as oil price rout saps profits

Statoil deepened cost cuts and halted dividend growth as Norway’s biggest energy company struggles to withstand a plunge in oil prices. More »

Spectrum commences multi-client 2D seismic project offshore Brazil

Spectrum has commenced a 12,000 km multi-client 2D seismic survey offshore the Pelotas basin of Brazil. More »

Lundin discovers gas in Zulu prospect in North Sea

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has completed the drilling of wildcat well 26/10-1 and discovered gas. More »

Cape bags multiple contracts in Azerbaijan

Cape plc has announced that its SOCAR Cape JV has been awarded three significant contracts in Azerbaijan. More »

Ivanhoe Energy terminates specific services contract on Block 20 project in Ecuador

Ivanhoe Energy has announced that Ivanhoe's specific services contract on Block 20 in Ecuador is being terminated by mutual consent between Ivanhoe and Petroamazonas EP, Ecuador's state-run oil company. More »

Darrell Johnson joins Camcon Oil as strategic adviser

Camcon Oil has appointed Darrell Johnson of RMS Partnership as strategic adviser to the Camcon Board and shareholders. More »

National Shale Oil RandD Centre established in Sinopec

As a key innovation platfor approved by China’s National Energy Administration, the National Shale Oil RandD Centre is established in Sinopec. More »

Seatronics, 2G Robotics announce global sales and distribution partnership

Seatronics, an Acteon company, and 2G Robotics, have announced a global sales and distribution partnership. More »

Ikon Science announces first sale of Ji-Fi product

Ikon Science has announced the first sale of the breakthrough Joint Impedance and Facies Inversion product (Ji-Fi) to U.S. based independent operator Murphy Exploration and Production. More »

InterMoor appoints Cohen Guidry as regional Manager, West Africa

InterMoor, an Acteon company, has appointed Cohen Guidry as the regional Manager, West Africa. More »

‘God’ of crude oil trading sees oil rally benefiting shale since this isn't ‘86

The oil industry’s billions in spending cuts are paving the way for a price rebound that will make the best shale producers attractive investments, commodity hedge fund manager Andrew J. Hall told investors. More »

Kurd oil producers resort to $30 sales as export income stalled

Foreign oil producers in Iraqi Kurdistan are resorting to selling crude at about $30/bbl in the domestic market as the government hangs on to companies’ export earnings amid weaker world prices and a costly battle with Islamic State. More »

Rosneft to cut spending 10% this year, Sechin says

Rosneft, Russia’s largest oil producer, is set to cut spending by 10% this year, Igor Sechin, the company’s CEO, has said. More »

ABB wins $50-million contract for Petronas FLNG vessel

ABB has won a contract worth more than $50 million to supply the electrical system for one of the world’s first commercial FLNG facilities, and the second to be owned by Petronas. More »

26-well campaign underway at Algeria’s Reggane Nord gas project, RWE Dea says

The Reggane Nord consortium, which includes RWE Dea, has commenced development drilling at the gas project in the Algerian Sahara. More »

Inpex announces first oil from Nasr field, offshore UAE

Inpex Corp., through its wholly owned subsidiary, Japan Oil Development Co., commenced oil production from Nasr field, offshore Abu Dhabi, the United Arab Emirates, on Jan. 24. More »

No Keystone, no problem for Canadian oil seeking ports

NEW YORK (Bloomberg) -- While the debate intensifies over whether TransCanada Corp.’s Keystone XL pipeline should be approved, traders are quietly setting up alternative routes to ship Canadian oil from U.S. ports. More »

Weatherford to cut 5,000 jobs after plunge in oil price

Weatherford plans to cut 5,000 jobs in the first quarter, joining larger competitor Schlumberger Ltd. in responding to lower oil prices. More »

Rod Starr assumes role as CEO of Polarcus

Rod Starr has now assumed the role of CEO of Polarcus, the company has confirmed. More »

Suncor to push ahead with Fort Hills oil sands amid oil rout

Suncor Energy Inc., Canada’s largest oil company, will push ahead with its planned Fort Hills oil sands project even as the price of oil hovers around $50 bbl. More »

Sale of licence interests to UK Oil and Gas Investments plc

Egdon Resources plc is pleased to announce that the company has agreed the sale of its interests in two non-core licences in Southern England to UK Oil and Gas Investments plc. More »

Petrobras, now $262 billion poorer, exposes busted Brazil dream

When Brazil emerged from the global financial crisis as one of the world’s great rising powers, Petrobras was the symbol of that growing economic might. More »

Petrobras finds oil at Basilisco well in Brazil's Campos basin

Petrobras announces the discovery of new oil accumulations in concession BM-C-35 (exploratory block C-M-535), located in the Campos basin post-salt layer. More »

Petrobras CEO and five directors resign as company remains mired in mounting corruption charges

RIO DE JANEIRO -- Petrobras confirmed Wednesday that its CEO and president Maria das Graças Foster and five directors resigned. More »

No Keystone, no problem for Canadian oil seeking ports: energy

NEW YORK (Bloomberg) -- While the debate intensifies over whether TransCanada Corp.’s Keystone XL pipeline should be approved, traders are quietly setting up alternative routes to ship Canadian oil from U.S. ports. More »

Oil’s biggest rally since 2009 stalls as U.S. supply glut grows

NEW YORK (Bloomberg) -- Oil plunged the most since November, ending the biggest rally in six years, as a U.S. supply glut worsened. More »

Petrobras CEO and five directors resign as company is mired in mounting corruption charges

RIO DE JANEIRO -- Petrobras confirmed Wednesday that its CEO and president Maria das Graças Foster and five directors resigned. More »

Tristein merges with Aqualis Offshore

ASKER, Norway -- Aqualis ASA has decided to merge the operations of Tristein AS into Aqualis Offshore AS. More »

WGK wins FEED contract for Woodside’s GWF-2 development

Wood Group Kenny (WGK) has secured a contract with Woodside to provide the FEED of the flowline system, and associated procurement support, for the proposed Greater Western Flank Phase 2 (GWF-2) development for the North West Shelf Project, offshore Western Australia. More »

Inpex kicks off Ichthys LNG development drilling campaign

Inpex Corp. announced Wednesday that the Inpex-operated Ichthys LNG Project had started drilling at the Ichthys gas-condensate field, about 200 km off the Western Australian coast. More »

Chevron acquires deepwater exploration interests offshore Mauritania

Chevron’s wholly owned subsidiary, Chevron Mauritania Exploration Ltd., has reached an agreement to acquire a 30% non-operated working interest in blocks C8, C12 and C13 offshore Mauritania from Kosmos Energy. More »

Asia Pacific set for renewed interest in exploration, Wood Mackenzie says

The fall in oil prices has set the tone for a challenging 2015, says Wood Mackenzie, which will affect EandP activity across Asia Pacific’s (APAC) entire upstream sector. More »

EPA Keystone review links oil sands to carbon emission jump

The U.S. Environmental Protection Agency said developing Canadian oil sands would significantly increase greenhouse gases, a conclusion environmental groups said gives President Barack Obama reason to reject the proposed Keystone XL pipeline. More »

Abu Dhabi cuts oil prices to six-year lows amid global rout

ABU DHABI (Bloomberg) -- Abu Dhabi, the desert emirate holding about 6% of the world’s oil, cut export prices for its crude for the seventh consecutive month and to the lowest since 2009 amid a global price slump. More »

Halliburton releases new slimhole size in XBAT azimuthal sonic and ultrasonic LWD service

Sperry Drilling, a Halliburton business line, introduced a new 4-3/4 in. slimhole size to its XBAT LWD service to complete its portfolio that includes 6-3/4, 8 and 9-1/2 in. tools. More »

Statoil picks acting CEO Saetre as permanent boss after Lund

OSLO, Norway (Bloomberg) -- Statoil, Norway’s biggest energy company, unexpectedly appointed acting CEO Eldar Saetre to permanently succeed Helge Lund. More »

Lamprell delivers jackup rig Jindal Pioneer to Dev Drilling

DUBAI -- Lamprell has completed construction on the jackup rig 'Jindal Pioneer' and its delivery to Dev Drilling of Singapore, a D. P. Jindal Group, on time and within budget. More »

Weatherford announces new FracAdvisor services offering

HOUSTON -- Weatherford International has introduced its new FracAdvisor service offering for the oil and gas industry. More »

Halliburton releases new slimhole size in XBATsm azimuthal sonic and ultrasonic LWD service

Sperry Drilling, a Halliburton business line, introduced a new 4-3/4 inch slimhole size to its XBATsm LWD service to complete its portfolio that includes 6-3/4, 8 and 9-1/2 inch tools. More »

Wellsite Rental Services adds flush mounted slips into rental product line

Wellsite Rental Services has incorporated flush mounted slips to its rental product line. More »

Oil surges for fourth day with Brent ending at $57.91

Oil surged for a fourth day, moving into a bull market on speculation that reduced investment will curb crude production. More »

Baker Hughes introduces NextWave production rejuvenation solution

HOUSTON -- Baker Hughes has released its NextWave production rejuvenation solution, which helps operators boost production, improve sustainable cash flow, and increase booked reserves in existing unconventional wells that have more production to offer. More »

Fairmount Santrol releases results of proppant transport technology

THE WOODLANDS, Texas -- Fairmount Santrol has released the latest results from its Propel SSP proppant transport technology field trial. More »

Petrobras CEO presented with SPE Distinguished Award

Petrobras’ CEO, Maria das Graças Silva Foster, has been presented with the highest award granted by the Society of Petroleum Engineers (SPE). More »

BP CEO sees no hope of $100 oil for ‘long time’ amid glut

BP Plc boss Bob Dudley is very bearish on the price of oil. He says this feels the same as 1986, when oil slumped from $30/bbl to $10/bbl and didn’t recover until Iraq invaded Kuwait in 1990. More »

CNOOC aims to raise output despite spending cut

China’s CNOOC plans to boost production this year despite the downdraft in oil prices causing the company to cut capital expenditure. More »

Wood Mackenzie identifies Russian upstream events to watch in 2015

More »

DNV GL: Industry split over cost management strategies for downturn

In the face of falling oil prices, confidence in the outlook for the oil and gas industry has dropped dramatically among sector professionals from 65% to 28% in the last three months, according to new research published Tuesday by DNV GL. More »

BP fourth-quarter profit falls on slumping crude prices

BP Plc reported better-than-forecast fourth-quarter profit even as oil prices slumped, forcing Europe’s third-largest oil company to cut spending. More »

CNOOC starts production at Jinzhou 9-3 project in Bohai

CNOOC has announced that its Jinzhou 9-3 comprehensive adjustment project has commenced production. More »

BG posts record loss after $5.94 billion impairment charge

BG Group, the U.K.’s third-largest natural-gas producer, posted a record quarterly loss after writing down the value of its Australian assets and lowering price assumptions after a seven-month oil-market rout. More »

Cnooc to increase output, even as oil plunge spurs spending cut

Cnooc Ltd., China’s biggest offshore oil and gas producer, plans to increase production by as much as 15% this year even as the plunge in the price of crude oil compels it to cut capital expenditure. More »

Searcher Seismic announces 2015 GroupSeis campaign

Searcher Seismic in conjunction with project partner, BGP, has announced the 2015 GroupSeis campaign over the North West Shelf, Western Australia. More »

MAN Diesel and Turbo's new offshore GenSet targets drilling segment

MAN Diesel and Turbo has announced the launch of its PA6 B Offshore GenSet (OG). Aimed at the offshore-drilling segment, the new engine is specifically targeted at semisubmersible drilling rigs. More »

OTC names 2015 Distinguished Achievement Award recipients

The 2015 Offshore Technology Conference (OTC) will present its 2015 Distinguished Achievement Awards on May 3 at the Annual OTC Dinner to Elmer (Bud) Danenberger III for individual achievement, the Petrobras pre-salt development for corporate achievement and Ray R. Ayers with the Heritage Award. More »

3PS announces iron roughneck torque tester

3PS, a subsidiary of Pason Systems, has announced its new product for making drill string tool joints correctly - the iron roughneck torque tester. More »

C and C Technologies to be acquired by Oceaneering International

C and C Technologies has agreed to be acquired by Oceaneering International, Inc. The transaction is anticipated to be completed in early April 2015, subject to customary closing conditions. More »

Texas Petro Index begins decline, industry contraction will be significant

HOUSTON -- The Texas Petro Index, a composite index based upon a comprehensive group of upstream economic indicators, declined for the second straight month in December to 309.5, according to the sponsor of the index, the Texas Alliance of Energy Producers. More »

Gazprom wins jury trial over Moncrief Oil International

DALLAS -- Russian-based oil and gas company Gazprom has successfully defended a claim for $1.37 billon lodged by Moncrief Oil International. More »

BP to relinquish 'risky' exploration blocks offshore Indonesia

BP has decided to hand back two exploration licenses in the Arafura Sea, offshore Indonesia, after deeming them high risk. More »

WPX, Southwestern complete Marcellus deal

WPX Energy has completed the sale of its operations in northeast Pennsylvania, including the release of certain firm transportation capacity, to Southwestern Energy Company. More »

Vallourec to expand Newfoundland facility

Vallourec Canada, a supplier of pipe and tubular goods for the Canadian oil and gas industry, is expanding the capacity of its Newfoundland facility. More »

Exxon profit falls as oil industry reels from market collapse

Exxon Mobil Corp. reported a steep drop in fourth-quarter profit that still handily beat expectations as the rout in oil prices ushered in an era of frugality for an industry that reaped $3.2 trillion in sales last year. More »

EnQuest pulls out of Tunisia

EnQuest has exited from its small investment in the Didon oil field in Tunisia. More »

INPEX chooses First Geo for NCS exploration efforts

INPEX NORGE has selected sub-surface consultancy First Geo to provide exploration teams and services for the EandP company’s exploration efforts on the Norwegian Continental Shelf. More »

BSEE: Well site supervisor charged with false statements to inspectors

The U.S. Attorney’s Office of the Eastern District of Louisiana has announced that Race Addington, 49, of Houston, Texas, was charged in a two-count Bill of Information with making false statements to BSEE inspectors in relation to the veracity of BOP testing on an offshore oil and gas platform. More »

Russian oil production near record as prices fail to slow momentum

Russian oil production remained near the post-Soviet record reached last month, as the collapse of crude prices since June has so far failed to visibly disrupt growth, and exports jumped. More »

EnQuest pulls out interest from Didon field in Tunisia

EnQuest has exited from its small investment in the Didon oil field in Tunisia. More »

North Sea oil turns buyer’s market as Apache, BG Group want out

Want to buy an oil well in U.K.’s North Sea? There are plenty available as some of the industry’s largest names try to sell aging, costly wells that have become even less profitable with the plunge in crude prices. More »

Genel Energy appoints J.P. Morgan's banker as the new CFO

Genel Energy has announced that Julian Metherell, the company's current CFO, will retire with effect from the close of the Annual General Meeting on Apr. 21,2015. More »

Cubility appoints Knut Haga as CTO

Cubility has announced the appointment of Knut Haga as the company’s new CTO. More »

PCM acquires 75% stakes in AMIK Oilfield Equipment and Rentals in Canada

PCM S.A., a company dedicated to Progressing Cavity Pump (PCP) technology and provider of comprehensive pumping solutions for the oil and gas has acquired 75% of the shares in AMIK Oilfield Equipment and Rentals based in Canada. More »

Capstone Turbine receives order for fifteen C65 microturbines

Capstone Turbine Corporation has recently received an order for fifteen C65 microturbines for shale oil and gas customers in the U.S. from Horizon Power Systems. More »