U.S. oil explorers, facing crude near $50/bbl, idled rigs for the 10th straight week, extending an unprecedented retreat in drilling and dragging the nation’s total rig count down to the lowest level in almost five years. More »
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Friday, 13 February 2015
U.S. oil explorers extend biggest-ever rig retreat to 10th week
HOUSTON (Bloomberg) -- U.S. oil explorers, facing crude near $50/bbl, idled rigs for the 10th straight week, extending an unprecedented retreat in drilling and dragging the nation’s total rig count down to the lowest level in almost five years. More »
Rig count collapse no obstacle to booming oil output
HOUSTON -- The U.S. drilling frenzy is over. What’s not is the boom in oil production. While companies have idled 151 rigs in five shale formations since reaching a peak of 1,157 in October, they’ll need to park another 200 for growth to stall, according to data from the U.S. EIA. More »
U.S. Senator Murkowski introduces bill to allow energy production on ANWR coastal plain
WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, introduced legislation that would allow limited oil and natural gas activity within the non-wilderness coastal plain of the Arctic National Wildlife Refuge (ANWR). More »
U.S. Senator Lisa Murkowski introduces bill to allow energy production on ANWR coastal plain
WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, introduced legislation that would allow limited oil and natural gas activity within the non-wilderness coastal plain of the Arctic National Wildlife Refuge (ANWR). More »
North Dakota output rose 2.4 MMbbl in December, State says as rigs drop
North Dakota’s oil production rose by nearly 2.4 MMbbl in December, but the state’s rig count has now fallen to its lowest level in nearly five years. More »
Rowan Reliance joins ultra-deepwater drillship fleet
Rowan Drilling has taken delivery of the Rowan Reliance ultra-deepwater drillship. The third in a series, the newbuild was built at the Hyundai Heavy Industries yard in South Korea. More »
Seadrill writes off $1.1 billion of Petrobras orders
HAMILTON, Bermuda – Seadrill, the world's third-biggest offshore driller, has cut $1.1 billion worth of Petrobras orders from its backlog. More »
TransCanada profit beats estimates as Keystone leg comes online
TransCanada Corp., the company proposing the $8-billion Keystone XL pipeline, said fourth-quarter profit rose as it began oil shipments on the southern leg of the project. More »
Statoil in minor discovery near North Sea’s Ekofisk field
Statoil Petroleum, operator of production license 146, is in the process of completing the drilling of wildcat well 2/4-22 S. The well resulted in a minor oil discovery. More »
Interior releases updated assessment for 2008 Chukchi Sea lease sale
The U.S. Department of the Interior announced the release of a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193 on Thursday, which moves the Department one step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. More »
Alaska LNG Project draft resource reports filed with FERC
ANCHORAGE, Alaska -- A series of draft environmental and socioeconomic reports for the Alaska LNG Project has been submitted to the U.S. Federal Energy Regulatory Commission (FERC), which is responsible for conducting the environmental review of the project. More »
Statoil to submit development plan for Johan Sverdrup
Statoil and its partners, on Feb.13, will submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. More »
N-Sea invests $2.3 million in new dive support vessel
N-Sea has launched its third diving support vessel, the Edradour. More »
WPX Energy slashes spending, cuts rigs
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow. More »
Subsea 7 bags contract from Woodside Energy offshore Australia
Subsea 7 has been awarded a contract by Woodside Energy for the Persephone Work Pack 2 fabrication, subsea installation and diving services project, offshore Australia. More »
Statoil to submit development plan for Johan Sverdrup; demands 40% stake
Statoil and its partners, on Feb.13, will submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy. More »
Eni inks Goliat FPSO contract with TOOLS
Eni Norge has entered into a contract with TOOLS for the provision of services and supplies to the Goliat FPSO, leading to a further buildup of activity for the supplier in Hammerfest. More »
N-Sea invests $2.31 million in new dive support vessel
N-Sea has launched its third diving support vessel, the Edradour. More »
WPX Energy aligns capital plan with operating cash flow
WPX Energy has announced a 2015 capital investment plan of approximately $725 million (midpoint), in line with the company’s projected operating cash flow. More »
Thursday, 12 February 2015
Eni appoints Marco Bardazzi as Director of external communication
Eni is strengthening the communication of its global activities, focusing on the innovation opportunities offered by digital technology in order to make its relationships with stakeholders, media and public opinion broader and even more transparent. More »
Wintershall expands steam flooding at Emlichheim
EMLICHHEIM, Germany -- Wintershall is now applying a tried-and-tested production technique to another crude oil formation at its Emlichheim reservoir: to recover more oil, the BASF subsidiary is feeding hot steam into the Gildehaus sandstone. More »
Apache’s drastic rig cuts hit brakes on shale
HOUSTON (Bloomberg) -- Apache Corp.’s decision to sharply curb the growth of its oil output this year suggests that the major U.S. shale producers who helped create a global oil glut will be able to reduce supplies faster than expected. More »
Innovative forging process produces seamless landing strings
Vallourec has developed an innovative forging process to produce seamless forged landing strings. More »
Precision Polymer Engineering opens Texas plant
BRENHAM, Texas -- Precision Polymer Engineering (PPE), has opened its new seals manufacturing facility in Brenham, Texas. More »
Cenovus to cut 800 jobs, freeze wages after oil slide
Cenovus Energy will cut staff by 15%, freeze wages this year and reduce spending on travel, conferences and information technology after the global slump in oil prices. More »
Halliburton announces two completion tools
Halliburton has announced two new completion products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
Halliburton announces two completion tools
Halliburton has announced two new completion products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
Halliburton releases two new completion tools
HOUSTON -- Halliburton Completion Tools has released two new products: the EquiFlow Autonomous Inflow Control Device (AICD) and the VersaFlex XtremeGrip Expandable Liner Hanger System. More »
New handbook highlights scale of UK's offshore fabrication capabilities
New information about the capabilities and capacity of the UK offshore fabrication sector is now available in the 2015 UK Offshore Oil and Gas Fabricators Directory, which Oil and Gas UK—the representative body for the UK offshore industry— published in digital form on Thursday. More »
Oil layoffs top 100,000 as job pilgrims’ dreams shatter
The promise of plentiful jobs and salaries as high as a quarter-million dollars a year lured Colombia native Clara Correa Zappa and her British husband to Perth, Australia, at the height of the continent’s oil and gas frenzy. More »
TAG Oil announces resignations of CEO, COO
TAG Oil’s CEO and Director, Garth Johnson, and COO, Drew Cadenhead, have submitted their resignations, but they will continue in their respective roles during a transition period to support the appointment of new executives. More »
Australia Pacific LNG’s first gas reaches Curtis Island
GLADSTONE, Queensland -- Australia Pacific LNG announced Wednesday that it had reached a significant milestone with the arrival of first gas from its coal seam gas fields in the Surat basin to its LNG facility on Curtis Island, near Gladstone, Queensland. More »
Cenovus to cut staff by 15%, freeze pay after oil drop
Cenovus Energy will cut staff by 15%, freeze wages this year and reduce spending on travel, conferences and information technology after the global slump in oil prices. More »
Lundin in minor discovery northeast of Johan Sverdrup
Lundin Norway, operator of production license 674 BS, is in the process of completing the drilling of wildcat well 26/10-1. The well resulted in a minor gas discovery. More »
Total to curb spending, exploration as profit sinks on oil drop
Total SA will reduce spending, increase job cuts and curtail exploration this year after the crash in crude prices cut fourth-quarter profit 17%. More »
Swiber bags $310 million EPCIC contract in South Asia
SINGAPORE -- Swiber Holdings has secured its second largest contract win in the group’s corporate history - an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia. More »
Petrobras platform explosion kills 5 at gas field off Brazil
Five workers died and four went missing in an explosion on a production vessel at a natural-gas field off Brazil’s coast operated by state-run Petroleo Brasileiro, said Norway’s BW Offshore, the ship’s owner. More »
Swiber bags $310 million EPCIC services contract in South Asia
SINGAPORE -- Swiber Holdings has secured its second largest contract win in the group’s corporate history - an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia. More »
Petrobras platform explosion kills 5 at gas field off Brazil
Five workers died and four went missing in an explosion on a production vessel at a natural-gas field off Brazil’s coast operated by state-run Petroleo Brasileiro, said Norway’s BW Offshore, the ship’s owner. More »
Oil holds below $50 after two-day slide amid rising U.S. supply
Oil held below $50/bbl after two days of losses as government data showed U.S. crude inventories and production surged to the highest levels in more than three decades, adding to signs that a supply glut may persist. More »
Oil demand seen by Saudis improving with prices stabilizing
Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi. More »
Wednesday, 11 February 2015
Gardner Denver introduces Black Diamond hydrostatic tester
Gardner Denver has introduced a hydrostatic workhorse that delivers more, faster and for less, the Black Diamond hydrostatic tester. More »
iStore launches WellBitz.com to help U.S. petroleum industry
The Information Store (iStore), a developer of oilfield software, announces the commercial launch of WellBitz.com to give petroleum companies access to low-cost tools for managing properties, collaborating, storing, mapping, and analyzing oilfield data. More »
3sun Group's Manager sets for Regional Chair for ECITB
3sun Group's income stream manager for 3sun Academy, James Hall, has been appointed as Regional Chair for ECITB. More »
2H Offshore appoints Phil Ward as Director of Aberdeen office
2H Offshore, an Acteon company, has appointed Phil Ward as a director in its Aberdeen office. More »
Oil producers outside OPEC stuck in crossfire with shale (1)
NEW YORK -- Oil producers outside OPEC and U.S. shale fields are getting caught in the confrontation over market supremacy that has brought crude prices to near six-year lows. More »
Abu Dhabi said to seek $7 billion in latest onshore oil bids
DUBAI -- Abu Dhabi is seeking about $7 billion in payments from foreign companies for production stakes still to be awarded in the emirate’s biggest onshore oil fields, two people with knowledge of the situation said. More »
Apollo’s energy head says worst is yet to come for oil producers
NEW YORK -- Apollo Global Management LLC’s head of energy investing said the worst is still to come for oil as OPEC may decide against cutting production for years. More »
Oil demand seen by Saudis improving with prices stabilizing
DUBAI (Bloomberg) -- Crude demand is improving amid signs prices are stabilizing, the state-run Saudi Press Agency reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi. More »
Williams, Crestwood Midstream commission Niobrara gas plant
TULSA, Oklahoma -- Williams Partners and Crestwood Midstream Partners have announced the commissioning of the Bucking Horse gas processing facility located in Converse County, Wyoming, adding 120 MMcfd of processing capacity in the Powder River basin Niobrara shale play. More »
Petrobras offshore oil platform explosion kills three
RIO DE JANEIRO (Bloomberg) -- Three workers died and four others were injured in an explosion on an offshore oil platform operated by Brazil’s state-run oil company Petroleo Brasileiro SA, an oilworkers union said. More »
Sub Sea Services signs agreement with Astican Shipyard
STAVANGER, Norway -- Sub Sea Services and Astican Shipyard in Las Palmas, Canary Islands, have signed a business development agreement to serve the West Africa region. More »
Williams Partners, Crestwood Midstream commission Niobrara gas processing plant
TULSA, Oklahoma -- Williams Partners and Crestwood Midstream Partners have announced the commissioning of the Bucking Horse gas processing facility located in Converse County, Wyoming, adding 120 MMcfd of processing capacity in the Powder River basin Niobrara shale play. More »
Williams Partners, Crestwood Midstream commission gas processing plant in Niobrara shale Williams Partners, Crestwood Midstream commission gas processing plant in Niobrara shale
TULSA, Oklahoma -- Williams Partners and Crestwood Midstream Partners have announced the commissioning of the Bucking Horse gas processing facility located in Converse County, Wyoming, adding 120 MMcfd of processing capacity in the Powder River basin Niobrara shale play. More »
Anadarko announces Board of Directors election, retirement
Anadarko Petroleum Corp. has announced the election of Mark C. McKinley to serve as an independent director of the company, effective Feb. 11, 2015. McKinley also was appointed a member of the Board's Audit Committee. More »
Study finds low methane emissions from natural gas collection, processing facilities
The vast majority of natural gas collection and processing facilities have methane leak rates of less than 1%, according to a major field study led by Colorado State University that examined 114 gathering facilities and 16 processing plants across 13 states. More »
Drillinginfo launches new oil and gas production index
AUSTIN, Texas -- Drillinginfo, Inc., has launched the Drillinginfo Index, the an indicator of new onshore U.S. oil and gas production trends. More »
VAALCO reports first production from new Etame development well
VAALCO Energy has announced first production from Etame 10-H, the second development well drilled from the newly installed Etame platform, offshore Gabon. More »
UK tax cuts likely for North Sea, but shale remains at risk, GlobalData says
LONDON -- While the UK government is likely to implement changes to the fiscal regime governing North Sea oil that will reduce the tax burden, the outlook for the country’s shale sector is less favorable to the industry, according to GlobalData More »
TransCanada disputes EPA on Keystone climate change claim
TransCanada has sent a letter to the U.S. Department of State that highlights the company's official response to the Feb. 2 comment letter from the U.S. Environmental Protection Agency (EPA) on the Department of State's Final Supplemental Environmental Impact Statement (FSEIS) for Keystone XL. More »
Bibby Offshore Singapore secures contract with Seascape
Bibby Offshore Singapore has secured a contract with subsea service provider Seascape. More »
Goldman sees oil rally fading as rig cuts not deep enough
The slump in oil prices may not be over, according to Goldman Sachs Group Inc. More »
Tap Oil ends farm-in to offshore Otway basin
Tap Oil has advised WHL Energy that it has elected not to exercise its option to acquire 10% interest in exploration permit Vic/P67 in the offshore Otway basin. More »
Oil trades above $50 as U.S. supply outlook boosts volatility
Oil traded above $50/bbl after the biggest slide in four days as investors weighed forecasts for slowing U.S. crude output against signs that the market is oversupplied. More »
Tuesday, 10 February 2015
TAM International strengthens Asia and Middle East management teams
TAM International has recently hired Scott Myers as Middle East Manager and Edward Wharam as Country Manager for Indonesia and Malaysia. More »
Petrobras' Libra Consortium completes drilling and testing of first well, finds oil
Petrobras has informed that the Libra Consortium has completed the drilling and testing of the first appraisal well in the Libra area and confirmed oil presence. More »
2015 upstream capex to surpass $4 billion in SCOOP core, Wood Mackenzie says
Even in the current price environment, the best producing parts of the South-Central Oklahoma Oil Province (SCOOP) are on par with the Eagle Ford and Bakken according to Wood Mackenzie’s latest key play analysis. More »
InterOil: Arbitration claims dismissed; Total declared a party to PRL 15 JVOA
InterOil Corporation has advised that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search Limited, to pre-emptive rights over a share sale and purchase agreement involving an interest in the Elk-Antelope gas field in Papua New Guinea. More »
Oil producers outside OPEC stuck in crossfire with shale
Oil producers outside OPEC and U.S. shale fields are getting caught in the confrontation over market supremacy that has brought crude prices to near six-year lows. More »
Petrobras said to hit snag while drilling Libra well
Petrobras halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team. More »
EIA trims oil output forecast as drilling falls with prices
The Energy Information Administration has reduced its 2015 U.S. crude production outlook as lower prices curb drilling activity. More »
Wireless system offers remote monitoring of well pad tubing and casing pressures
A long-range mesh networking technology is now available for remote monitoring of well pad tubing and casing pressures. More »
DOJ requests additional information related to Halliburton acquisition of Baker Hughes
HOUSTON -- Halliburton and Baker Hughes have each received a request for additional information from the U.S. Department of Justice in connection with Halliburton's pending acquisition of Baker Hughes. More »
Global Geophysical Services emerges from Chapter 11
Global Geophysical Services has successfully completed its balance sheet restructuring and emerged from bankruptcy, following confirmation of Global's Second Amended Joint Chapter 11 Plan of Reorganization by the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division, on Feb. 6, 2015. More »
Halliburton cutting jobs on ‘challenging market environment’
HOUSTON (Bloomberg) -- Halliburton Co. is cutting as much as 8% of its global workforce as it confronts the collapse of oil prices. More »
STEP Energy Services completes inaugural job with STEP-ARM
STEP Energy Services’ coiled tubing technology advancement, the STEP-ARM (Articulating Rotational Mast), marked its maiden voyage on Jan. 26 and has successfully completed its first job. More »
Sound Oil gets technical approval for Nervesa gas discovery, Italy
Sound Oil has announced the technical approval of the environmental impact assessment (EIA) for the Nervesa gas discovery production concession from the Veneto Region's Technical Committee. More »
Taipan starts arbitration against Afren subsidiary
Taipan Resources has started an arbitration action against East African Exploration (Kenya) Limited, a wholly owned subsidiary of Afren Plc. More »
CAMAC Energy completes 2D seismic acquisitions in Kenya
CAMAC Energy has completed its onshore 2D seismic acquisitions on Blocks L-1B and L-16 in Kenya. More »
Ultra-deepwater pipeline flows first gas in Gulf of Mexico
TULSA, Oklahoma -- Williams and DCP Midstream Partners have announced that the new extended Discovery natural gas gathering pipeline system is now flowing natural gas. More »
Fresh oil price drop possible on U.S. supply, biggest trader says
The world’s biggest independent oil trader said crude prices could resume a slump that saw them fall 61% between June and January, as unrelenting growth in U.S. output leads to a “dramatic” build in the nation’s stockpiles. More »
Sterling Energy acquires interest in Block C-3, offshore Mauritania
Sterling Energy Mauritania, a wholly owned subsidiary of Sterling Energy, has signed a sale and purchase agreement with Tullow Mauritania, a subsidiary of Tullow Oil, to acquire a 40.5% interest in the PSC for Block C-3, located offshore in the Islamic Republic of Mauritania (SPA). More »
Kinder Morgan to buy three Vopak U.S. terminals, one undeveloped site for $158 million
Kinder Morgan will purchase three terminals and one undeveloped site from Royal Vopak for approximately $158 million. More »
Occidental agrees to $500 million oil exploration in Abu Dhabi
Occidental Petroleum, the second- largest independent U.S. oil producer, agreed to a $500 million oil exploration project with Abu Dhabi over two years. More »
IEA sees U.S. adding most oil to global supply through 2020
The U.S. will remain the biggest contributor to global growth in oil supplies to 2020 as OPEC’s attempts to defend its market share will hurt other suppliers including Russia more, according to the International Energy Agency. More »
CNOOC signs PSCs with SK in South China Sea
CNOOC Limited has signed two PSCs with SK Innovation for Blocks 04/20 and 17/03 in the South China Sea, located in the Pearl River Mouth basin. More »
Sterling Energy acquires interest in Block C-3, Mauritania
Sterling Energy Mauritania, a wholly owned subsidiary of Sterling Energy, has signed a sale and purchase agreement with Tullow Mauritania, a subsidiary of Tullow Oil, to acquire a 40.5% interest in the PSC for Block C-3, located offshore in the Islamic Republic of Mauritania (SPA). More »
Dana Petroleum discovers oil in Danish North Sea
Dana Petroleum has successfully completed the drilling of the Lille John-2 appraisal well and side-track on the Lille John oil field in license 12/06 in the Danish North Sea. More »
Monday, 9 February 2015
Kinder Morgan to purchase $158 million worth terminals from Royal Vopak
Kinder Morgan will purchase three terminals and one undeveloped site from Royal Vopak for approximately $158 million. More »
API: Obama's leasing program endangers U.S. energy competitiveness
The offshore leasing program proposed by the Obama administration puts America’s energy competitiveness at risk, API President and CEO Jack Gerard told reporters Monday as the government kicked off a series of public meetings on the proposal around the country. More »
OPEC cuts U.S. oil-supply growth forecast after price rout
OPEC made the deepest cut to its forecasts for 2015 global oil-supply growth since it first published them in August as U.S. producers lead a slowdown in drilling after last year’s price collapse. More »
Helge Lund takes helm at BG Group
BG Group has announced that Helge Lund—the former CEO of Statoil—has now joined the company as its new CEO and an executive director. More »
Statoil chooses unmanned wellhead platform for future Oseberg development
Statoil and its license partners have chosen an unmanned wellhead platform as the concept for the Oseberg future development phase I project in the North Sea. More »
Atlantic Offshore Rescue names new UK Managing Director
Atlantic Offshore Rescue has appointed a new managing director for its UK division to lead the organization from its Aberdeen base. More »
Inpex sells stake in Louisiana block to Sibley
Inpex Corp.’s wholly owned subsidiary Teikoku Oil (North America) Co. has agreed to sell all of its participating interest (25%) in Louisiana’s Block SL20183 to Sibley Petroleum Investments. More »
Statoil reports success in North Sea's Krafla area
Statoil, together with its partners in PL035, has completed a two-well program in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area. More »
Shell to explore in deepwater offshore Myanmar
Shell and its partner Mitsui Oil Exploration group (MOECO) have signed exploration and production sharing contracts with Myanma Oil and Gas Enterprise of the Republic of the Union of Myanmar for three deepwater blocks. More »
Statoil gains exploration success in Krafla area
STAVANGER, Norway -- Operator Statoil has together with PL035 partners completed a two-well programme in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area. More »
BG Group announces Helge Lund as CEO
BG Group has announced that Helge Lund will join the company as CEO and an executive Director with effect from Feb. 9, 2015. More »
Oil in ‘$20 range’ seen by Citigroup as oversupply ends in tanks
Oil as low as “the $20 range,” or less than half the current price, is possible by the start of the second quarter as oversupply ends up filling storage tanks close to capacity, Citigroup said. More »
Abu Dhabi seeking bids for largest onshore oil fields on Feb. 10
DUBAI (Bloomberg) -- Abu Dhabi National Oil is seeking final bids by Feb. 10 for concessions to the emirate’s largest onshore fields, said Abdullah Nasser Al Suwaidi, director general of the state-owned company. More »
Oil holds gains as U.S. drillers cut rigs amid global glut
Oil held gains after the biggest weekly advance in almost four years as signs of a drilling slowdown in the U.S. bolstered speculation that companies are cutting back crude production amid a global glut. More »
Sunday, 8 February 2015
Petrobras appoints new CEO, CFO and executive officers
Petrobras has informed that its Board of Directors, in a meeting held today, has approved with majority vote the election of Aldemir Bendine as CEO of Petrobras replacing the current CEO, Maria das Graças Silva Foster. More »
Otto Marine bags two PSV charter contracts worth $64 million
Otto Marine has secured two long term charter contracts for two PSVs to an oil major in Australia. More »
America’s biggest oil field hit hardest by idled drilling rigs
HOUSTON (Bloomberg) -- America’s legacy Permian Basin, the biggest of all oil fields in the U.S., was hit hardest by drillers this week retrenching amid the worst price collapse in six years. More »
Oil firms’ debt spiral may have added to price rout in BIS view
LONDON (Bloomberg) -- A fourfold increase in energy companies’ debts since 2003 may have deepened last year’s oil-price rout as firms delayed curbing output and sold futures contracts to hedge against the slump, the Bank for International Settlements said. More »
Roussef taps state banker to lead Petrobras from scandal
RIO DE JANEIRO -- Brazil's President Dilma Rousseff is putting her faith in a state bank executive to guide Brazil’s national oil company out of an unprecedented graft scandal. More »
America’s biggest oil field hit hardest by idled drilling rigs
HOUSTON (Bloomberg) -- America’s legacy Permian Basin, the biggest of all oil fields in the U.S., was hit hardest by drillers this week retrenching amid the worst price collapse in six years. More »
Oil firms’ debt spiral may have added to price rout in BIS view
LONDON (Bloomberg) -- A fourfold increase in energy companies’ debts since 2003 may have deepened last year’s oil-price rout as firms delayed curbing output and sold futures contracts to hedge against the slump, the Bank for International Settlements said. More »
Roussef taps state banker to lead Petrobras from scandal
RIO DE JANEIRO -- Brazil's President Dilma Rousseff is putting her faith in a state bank executive to guide Brazil’s national oil company out of an unprecedented graft scandal. More »
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