Schlumberger’s $1.7 billion Eurasia Drilling deal delayed

Schlumberger’s $1.7-billion deal to buy a stake in Eurasia Drilling Company—Russia’s largest driller—has been delayed pending approval from Russian regulators. More »

Chevron dry holes rate almost doubles amid shift to Americas

SAN RAMON, Calif. (Bloomberg) -- Chevron Corp.’s exploration failure rate almost doubled last year as the second-largest U.S. energy producer shifted more drilling efforts to American fields from other parts of the world. More »

BSEE, BOEM issue proposed regulations for drilling offshore Alaska

The Bureau of Safety and Environmental Enforcement and the Bureau of Ocean Energy Management released proposed regulations for future exploratory drilling on the U.S. Arctic Outer Continental Shelf on Friday. More »

Oil drillers extend record retreat, idling rigs for 11th week

U.S. oil explorers idled rigs for the 11th straight week, extending an unprecedented retreat in drilling as oil prices headed for the first decline in a month. More »

Canadian oil sands output growth defies price plunge

The deluge of Canadian oil that’s adding to a global glut and driving prices lower is showing few signs of slowing. More »

ATCO wins more work for Chevron’s Wheatstone Project

ATCO Structures and Logistics Pty. Ltd has been awarded additional scope to design, manufacture and install 435 modular units under its current agreement with Bechtel on the Chevron-operated Wheatstone Project in Western Australia. More »

OEG buys West Australian oilfield services providers

Two West Australian-based oilfield services providers have been purchased by global offshore equipment firm OEG Offshore. More »

Pemex, Sempra ink MOU for Mexico liquefaction project

Sempra Energy announced Thursday that its IEnova and Sempra LNG units have signed a Memorandum of Understanding with a subsidiary of Pemex for cooperation and coordination in developing a natural gas liquefaction project at the site of the Energía Costa Azul receipt terminal in Ensenada, Mexico. More »

Oceaneering names Larson as President, COO

Oceaneering International has appointed Roderick A. Larson, 48, as President and COO. More »

Norway’s PSA investigates man-overboard incident on Scarabeo 8

Norway’s Petroleum Safety Authority (PSA) is to investigate an incident where a person fell overboard from Scarabeo 8, on Goliat field in the Barents Sea, on Feb. 20. More »

Gazprom Neft makes first winter shipment of oil from Yamal

Gazprom Neft has made its first ever winter shipment of oil from the Novy Port (Novoportovskoye) field on the Yamal Peninsula. More »

Alberta fracing quake fears prompt tougher rules for shale area

Shale producers in Alberta’s Duvernay region are being asked to monitor and prevent earthquakes after regulators linked a series of seismic events over the last two months to hydraulic fracturing. More »

BP, Maersk Training enter five-year training contract

BP has announced a five-year contract for Maersk Training to handle a significant part of BP’s offshore rig crew training. More »

Oil heads for weekly decline amid record U.S. crude stockpiles

Oil headed for its first weekly decline in a month as U.S. crude stockpiles expanded to a record, adding to a global glut that drove prices lower. More »

Chariot Oil and Gas commences 2D seismic survey off Namibia

Chariot Oil and Gas has commenced a 2D seismic acquisition survey of approximately 1,700 km in the Central Blocks 2312 and 2412A offshore Namibia. More »

Slump in January 2015 production figures: NPD

The Norwegian Petroleum Directorate (NPD) has announced preliminary production figures for January 2015 indicating an average daily production of about 1,931,000 bopd, NGL and condensate. More »

Alberta fracking quake fears prompt tougher rules for shale area

Shale producers in Alberta’s Duvernay region are being asked to monitor and prevent earthquakes after regulators linked a series of seismic events over the last two months to hydraulic fracturing. More »

BP and Maersk Training enter five-year training contract

BP has announced a five-year contract for Maersk Training to handle a significant part of BP’s offshore rig crew training. More »

Statoil, Aker choose Holmatro cylinders for the Snorre A platform

At the start of this year, Holmatro and its Norwegian dealer EIVA-SAFEX jointly supplied 64 cylinders, each with a capacity of 536 tons, to the Statoil operated tension-leg platform (TLP) Snorre A. More »

Canada to reduce taxes for LNG plants

Canada is cutting taxes on LNG projects in an effort to spur the industry. More »

Police trap in India snares five for selling oil ministry papers

NEW DELHI (Bloomberg) -- Police in India’s capital arrested five people for the alleged sale of stolen Oil Ministry documents to energy and consulting companies, in a night-time sting operation targeting crime close to the heart of government. More »

Sempra joins Pemex plan for first gas export terminal in Mexico

MEXICO CITY (Bloomberg) -- Sempra Energy agreed to join state-run Petroleos Mexicanos’s plan to build the first export facility for liquefied natural gas in Mexico at an under-utilized import terminal on the Pacific Coast. More »

Goldman Sachs sticks to call for $39 oil as rally to reverse

The rally in oil will dissipate and prices will decline to $39/bbl in New York, Goldman Sachs Group Inc. said, maintaining an earlier forecast. More »

US land rig count to bottom in late summer: Wood Mackenzie

Houston -- Wood Mackenzie expects a continued decline in rig utilization through Q1 and Q2 of 2015, with a levelling off by August at approximately 1,000 units. January alone saw a decline in count by nearly 200 rigs to 1,616, down from a peak of 1,859 in November 2014. The pace of land rigs being idled continues to accelerate, with the first two weeks in February seeing a further 200 rigs coming off contract. More »

Saudi Arabia oil output rising amid battle for market share

Saudi Arabia is boosting oil production, pursuing its policy to maintain market share as prices fall. More »

Deepocean Ghana to provide MPV services to Tullow

More »

Noble Energy slashes spending by 40%

Noble Energy has announced its 2015 guidance, which includes anticipated capital investments of $2.9 billion and total sales volumes of between 295,000 and 315,000 boed. More »

ProSep launches JIP with Qatar Petroleum, Petroleum Development Oman

ProSep has launched an Industry Technology Facilitator (ITF) joint industry project (JIP) with Qatar Petroleum and Petroleum Development Oman. More »

Norway’s PSA to investigate leak at Statoil's Gudrun

Norway’s Petroleum Safety Authority has decided to initiate an investigation following a hydrocarbon leak on Gudrun field in the North Sea. More »

Murkowski, Heitkamp lead coalition urging oil exports to Mexico

U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada. More »

Talisman shareholders approve $8.3 billion acquisition by Repsol

Talisman Energy has announced that the holders of its common shares and preferred shares have approved the proposed arrangement under which Repsol, through a wholly owned subsidiary, is to acquire all of the outstanding shares of Talisman. More »

Statoil to drill wildcat well in PL128 in Norwegian Sea

The Norwegian Petroleum Directorate has granted Statoil Petroleum a drilling permit for wildcat well 6706/12-2 in PL128. More »

Talisman Energy approves acquisition to Repsol for $8.3 billion

Talisman Energy has announced that the holders of its common shares and preferred shares have approved the proposed arrangement under which Repsol, through a wholly-owned subsidiary, is to acquire all of the outstanding shares of Talisman. More »

TGS extends Declaration Multi-WAZ survey in Gulf of Mexico

TGS has extended its Declaration Multi-WAZ survey in the Mississippi Canyon and DeSoto Canyon protraction areas of the Gulf of Mexico. More »

OMV Petrom 2014 profit falls 56% as oil prices prompt fourth-quarter loss

BUCHAREST, Romania (Bloomberg) -- OMV Petrom, Romania’s largest oil company, said its 2014 net income declined 56% from a year earlier as falling oil prices caused a loss in the fourth-quarter. More »

Oil extends decline as U.S. crude stockpiles seen expanding glut

Oil fell for a second day before U.S. government data forecast to show crude stockpiles in the world’s biggest consumer expanded to a record level. More »

Churchill launches world’s first hydraulic pipe recovery tool - HyPR

Churchill Drilling Tools has launched HyPR (Hydraulic Pipe Recovery) system for the rapid and cost-effective recovery of stuck pipe. More »

Sen. Murkowski, Heitkamp lead coalition urging oil exports to Mexico

U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources committee, and Sen. Heidi Heitkamp, D-N.D., have joined with 19 of their Senate colleagues on a bipartisan letter to U.S. Commerce Secretary Penny Pritzker encouraging the administration to authorize oil exports to Mexico under the same conditions established for exports to Canada. More »

‘Premier’ shale driller EOG halts growth in bullish oil signal

The biggest, fastest-growing oil producer in the U.S. said it plans to halt output growth this year, delivering a signal that shale companies are beginning to do what it takes to reduce oversupplies. More »

MAN Diesel and Turbo commissions two compression modules for MODEC's FPSO, off Brazil

MAN Diesel and Turbo has successfully completed the commissioning of two compression modules on board of FPSO Cidade de Mangaratiba MV24 for MODEC. More »

Marathon Oil cuts spending by another 20%

Marathon Oil has announced a $3.5 billion capital, investment and exploration budget for 2015, a further 20% decrease since the Company's December capital budget update. More »

Israeli regulators recommend Delek, Noble sell stakes in Tamar and other gas fields, develop Leviathan

An Israeli government panel recommended that Delek Group and Noble Energy sell part of their stakes in the offshore Tamar and other producing gas fields to increase competition in the industry. More »

The hot new statistic oil traders are eyeing is 71 years old

HOUSTON (Bloomberg) -- This past Friday, oil traders were bent over their desks, staring at their screens, waiting for 1 p.m. New York time to see whether drillers extended their biggest-ever retreat from U.S. oil fields. (They did.) Oil futures spiked within minutes of the count, closing at the highest level in four days. More »

Aker Solutions to cut jobs amid oil slump

Aker Solutions will in 2015 adjust its workforce capacity within the maintenance, modifications and operations (MMO) market in Norway after a continued decline in activity levels. About 300 engineering and project management employees in the Norwegian MMO business may be affected. More »

Aubrey McClendon vows to fight Chesapeake’s claims of theft

Aubrey McClendon, the ousted co-founder of Chesapeake Energy Corp., said he’ll fight a lawsuit by his former company accusing him of stealing trade secrets to start a rival oil venture. More »

Saudi oil exports decline as OPEC ends ‘tough year’ in surplus

Saudi Arabia, the world’s biggest crude exporter, shipped 5.7% less oil overseas last year in a sign the price rout did little to revive demand. More »

Technip promises revenue growth in 2015 amid oil-price slump

Technip SA, France’s largest oil engineer, promised revenue and profit growth in 2015 even after the decline in crude prices forced the industry to cut capital spending. More »

Genie Energy subsidiary spuds exploratory well in Israel’s Golan Heights

NEWARK, New Jersey -- Genie Energy Ltd., an oil and gas exploration company and retail energy provider, said Tuesday that its Afek subsidiary has spudded its first exploratory well in the Golan Heights region of Northern Israel. More »

BLM paves way for first production from Alaska’s National Petroleum Reserve

The Bureau of Land Management (BLM) has issued a Record of Decision (ROD) for the proposed Greater Mooses Tooth Unit project (GMT1), opening the way for the first production of oil and gas from federal lands in the 23-million acre National Petroleum Reserve-Alaska (NPR-A). More »

Pennsylvania forms oil, gas advisory committee for conventionals

Pennsylvania’s Department of Environmental Protection (DEP) has announced a newly formed Conventional Oil and Gas Advisory Committee (COGAC) to increase transparency and communication about regulating the conventional oil and gas drilling industry. More »

MEO to farm-in into three Australian exploration permits

MEO Australia's wholly owned subsidiaries have executed an Option Agreement with an international exploration company providing the farminee with an option to farm-in to any of the WA-488-P, AC/P50 and AC/P51 permits. More »

Eni profit falls more than 60% on lower oil prices

Eni reported a 64% decline in profit caused by falling oil prices and losses on the fair-value interests in Galp and Snam. More »

Oil halts rising streak as U.S. stockpiles seen worsening glut

Oil fell for the first time in four days before U.S. government data forecast to show crude inventories increased further last week from a record level. More »

Buffett’s Berkshire eliminates Exxon stake amid plunge in oil prices

Warren Buffett’s Berkshire Hathaway Inc. eliminated its holding in Exxon Mobil Corp., exiting a $3.7 billion investment in the world’s largest energy company as oil prices fell. More »

Ohio city loses fight for control over oil and gas drilling

COLUMBUS (Bloomberg) -- An Ohio city lost a battle for control over oil and gas drilling permits within its borders with the Ohio Supreme Court saying the authority belongs to the state. More »

Oil exploration in Norway’s Arctic cut by half after crude crash

OSLO (Bloomberg) -- Oil exploration in Norway’s Arctic waters will be cut by half this year as state-controlled Statoil ASA halted drilling in the Barents Sea after crude prices plunged. More »

Oil advances to highest this year amid Libyan, Iraqi Disruptions

NEW YORK (Bloomberg) -- Oil rose to the highest level this year as chaos in Libya curbed output and as an agreement between Iraq’s central government and the Kurdish region over crude exports was tested by falling prices. More »

Halliburton and Baker Hughes set meetings to approve acquisition

Halliburton and Baker Hughes have announced special meetings of their stockholders, in connection with the pending acquisition. More »

BP Energy Outlook 2035: Growing gas and shifting flows

Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia—particularly in China and India—will drive continued growth in the world’s demand for energy over the next 20 years. More »

John Wood plans to boost payout this year amid lower oil prices

John Wood Group Plc plans to increase its dividend this year as the UK oil and gas services provider’s business shows “resilience” amid the lower oil-price environment. More »

Sound Oil prepares to drill second well on Italy’s Carita license

Sound Oil has received drilling authorization for the second well in the Carita license from the Italian Ministry of Economic Development. The Carita license includes the Nervesa gas discovery. More »

Oil rises as OPEC producers signal optimism over market recovery

Oil extended three consecutive weekly gains in London as OPEC ministers signaled their confidence that the market can sustain its rebound. More »

Golar LNG Limited sells Golar Viking to Equinox

Golar LNG Ltd. has announced the completion of the sale and delivery of the 2005 built LNGC Golar Viking to PT Perusahaan Pelayaran Equinox. More »

Bakken oil train derails, ignites forcing West Virginia evacuations

A CSX Corp. train carrying Bakken oil from North Dakota derailed and ignited in West Virginia, forcing some residents to flee their homes in frigid weather while cutting power and threatening drinking water. More »

Deep Sea Supply bags PSV contracts for Sea Brasil, Sea Frost

LIMASSOL,Cyprus -- Deep Sea Supply has agreed on a one year firm plus one year options contract with Petrobras for the PSV Sea Brasil for operations in Brazil. More »

Sanctions don’t bar oil-service giants bidding in Arctic

U.S. and European suppliers to the oil industry are still able to seek work in Russia’s Arctic despite sanctions designed to limit their involvement because the rules don’t apply to foreign subsidiaries. More »

Australian LNG output cuts seen long term amid gas shortage

A shortage of coal-seam gas, needed to feed about $60 billion of export projects in eastern Australia, may prompt the developers to reduce shipments in the long term, according to Credit Suisse Group. More »

Iran oil ministry faces cash emergency after drop in prices

The Iranian oil ministry won’t be able to pay staff or invest in boosting production if parliament proceeds with a plan to slash funding, according to Oil Minister Bijan Namdar Zanganeh. More »

Deep Sea Supply bags two PSVs contract from Petrobras in Brazil

LIMASSOL,Cyprus -- Deep Sea Supply has agreed on a one year firm plus one year options contract with Petrobras for the PSV Sea Brasil for operations in Brazil. More »

Sterling Energy acquires complete interest in Ntem block, offshore Cameroon

Sterling Cameroon Limited, a wholly owned subsidiary of Sterling Energy, has signed an agreement with Murphy Cameroon Ntem Oil Co. to acquire 50% interest and operatorship of the Ntem Concession, offshore Cameroon. More »

Noia honours oil and gas leaders with 2015 Industry Achievement Awards

The Newfoundland and Labrador Oil and Gas Industries Association (Noia) has announced the recipients of its 2015 Industry Achievement Awards. More »

HB installs temporary living-quarter complex offshore Trinidad and Tobago

HB Rentals has installed an end-to-end package for BHP Billiton, consisting of offshore accommodation modules and operating essentials for water, sewage, power and lighting. The BHP Billiton project is in the Angostura field, offshore Trinidad and Tobago. More »

Principal financial backer of fraudulent Ecuador litigation withdraws support, settles with Chevron

Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. More »

Proserv wins Subsea UK Company of the Year accolade

Proserv has won a much coveted industry award in recognition of its outstanding achievements after being named Company of the Year at the 2015 Subsea UK Business Awards on Feb.11. More »

HHI hands over world’s largest cylindrical FPSO to Eni

SEOUL, Korea -- Hyundai Heavy Industries (HHI) has announced that Goliat FPSO, the world’s largest cylindrical FPSO ordered by Eni Norge, has sailed away from its yard. More »

ValueAct places a $3 billion bet on Baker Hughes merger with Halliburton

ValueAct Capital Management has amassed a new stake in Halliburton Co. alongside its activist holdings in Baker Hughes Inc. as the investor champions an agreed merger of the oilfield-services providers More »

Crude oil trades near two-month high as drilling slows in U.S.

(Bloomberg) -- Oil traded at an almost two-month high in London amid speculation that a slowdown in U.S. drilling may curb production. More »

Kuwait sees crude price recovering, set to add more oil rigs

KUWAIT (Bloomberg) -- The surplus in global crude supply is smaller than the 1.8 MMbopd Kuwait estimated last month, and prices will continue to recover, Oil Minister Ali Al- Omair said. More »

China ‘teapot’ refineries may access imported oil under new rule

SHANGHAI (Bloomberg) -- China will allow more oil refiners to process imported crude, opening the door for small, independent plants known as teapots to use an alternative feedstock. More »

Rolls-Royce vows compliance after Petrobras bribe accusation

RIO DE JANEIRO (Bloomberg) -- Rolls-Royce Holdings said it will take all necessary action to ensure compliance with the law following allegations it was involvement in bribery and kickbacks at Brazilian oil producer Petrobras. More »

EMGC 2015 to examine export options for Eastern Mediterranean gas producers

Eastern Mediterranean Gas Conference (EMGC) 2015 is the premier event for professionals working in, or seeking to be involved in, the significant offshore gas reserves in the Eastern Mediterranean. More »

Chevron settles with backer of fraudulent Ecuador litigation

Chevron has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. More »

Siemens sticking with energy push heralds subsea deals

If Siemens AG is still serious about getting bigger in energy markets, its next move should be offshore. More »

Johan Sverdrup valued at $11.2 billion by Wood Mackenzie

Statoil and the field partners reached a final investment decision (FID) for the 2.35 Bbbl Johan Sverdrup oil field in the Norwegian North Sea on Friday. More »

Schlumberger introduces fully dissolvable plug-and-perf system

HOUSTON -- Schlumberger announced today the release of the Infinity dissolvable plug-and-perf system, which uses fully degradable fracture balls, and fully degradable seats instead of plugs, to isolate zones during well stimulation. More »

U.S. oil-rig slump not enough to halt output growth, Goldman says

The decline in the number of rigs drilling for oil in the U.S. to the fewest since August 2011 is still not enough to halt production growth, according to Goldman Sachs Group Inc. More »