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Saturday, 25 April 2015

Shell's pipeline transports first oil from LLOG's Delta House platform in deepwater Gulf of Mexico

Shell Pipeline Company's Odyssey Pipeline System has successfully transported the first crude oil produced from the LLOG-operated Delta House platform in the Mississippi Canyon protraction area of the Gulf of Mexico. More »

Friday, 24 April 2015

Oil at $65 could free 500,000 bopd from shale ’fracklog’

Oil needs to recover to $65/bbl for U.S. drillers to tap a pent-up supply locked in shale wells and unleash more crude on markets than is produced by Libya. More »

Saudi Arabia’s solution to global oil glut: Pump even more crude

Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels, and then pump even more. More »

Gazprom signs cooperation agreement with Argentina's YPF

Alexey Miller, chairman of the Gazprom Management Committee, and Miguel Galuccio, CEO of Argentine national petroleum company YPF, signed a memorandum of cooperation on Thursday. More »

Premier Oil suspends Falklands well on BOP problem

Premier Oil’s Isobel Deep exploration well offshore the Falkland Islands has been temporarily suspended, Falkland Oil and Gas Limited, a partner in the well, reports. More »

163 members of Congress urge Obama admin to increase OCS energy production

U.S. Sen. Lisa Murkowski, R-Alaska, chairman of the Senate Energy and Natural Resources Committee, along with Sens. Tim Scott, R-S.C., Bill Cassidy, R-La., and Rep. Rob Bishop, R-Utah, chairman of the House Natural Resources Committee, led 159 of their Senate and House colleagues in urging Interior Secretary Sally Jewell to increase access to the energy resources on the nation's Outer Continental Shelf (OCS). More »

Ithaca Energy sells Norwegian business to MOL

Ithaca Energy Inc. has entered into an agreement to sell its wholly owned subsidiary, Ithaca Petroleum Norge, for an initial consideration of $60 million. More »

Cnooc retains annual output target as sales slump on lower crude

Cnooc Ltd., China’s biggest offshore oil and gas explorer, will keep its annual production target, undeterred by a 40% plunge in first-quarter sales. More »

Increased brownfield focus for ADIL

Independent energy consultancy ADIL has refocused its specialist brownfield project management team to help operators drive improved efficiency in this challenging sector of the North Sea oil and gas industry. More »

KrisEnergy spuds Gulf of Thailand exploration well

KrisEnergy has commenced drilling of the Rayrai-1 exploration well in Block G10/48 in the Gulf of Thailand with the Key Gibraltar jack-up rig, where the company is currently developing the Wassana oil field. More »

Saudi Arabia’s solution to global oil glut: Pump ever more crude

Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels and then pump even more. More »

Schlumberger to acquire ownership in Spectrum's Pelotas program

Spectrum has entered into a cooperation agreement with Schlumberger to acquire 50% ownership in Spectrum's Pelotas multiclient program. More »

Ithaca Energy sells its Norwegian business to MOL

Ithaca Energy has entered into an agreement with MOL Nordsjon to sell its wholly owned subsidiary, Ithaca Petroleum Norge, for an initial consideration of $60 million. More »

Cameron introduces Jaguar Class self-elevating drilling unit

Cameron has introduced its new LETOURNEAU Jaguar Class self-elevating mobile offshore drilling unit. More »

163 members of Congress urge administrator to increase energy production in outer continental shelf

U.S. Sen. Lisa Murkowski, R-Alaska, Chairman of the Senate Energy and Natural Resources Committee, along with Sens. Tim Scott, R-S.C., Bill Cassidy, R-La., and Rep. Rob Bishop, R-Utah, Chairman of the House Natural Resources Committee, today led 159 of their Senate and House colleagues in urging Interior Secretary Sally Jewell to increase access to the energy resources on our nation’s outer continental shelf (OCS). More »

Scientific Drilling acquires Marksman Ranging Technologies

Scientific Drilling International (SDI), a independent directional drilling and wellbore placement services company, acquired Marksman Ranging Technologies, an innovative magnetic ranging technology and services company. More »

Fugro sets seafloor drill water depth record

Fugro has set a new seafloor drill water depth record of 2,923 m while completing a combined sampling and piezocone penetration testing (PCPT) borehole to 62 m below the seafloor. More »

Applus RTD wins non-destructive testing work for Kaombo development project

Applus RTD has been awarded a contract from Heerema Marine Contractors as part of the Kaombo development offshore Angola. More »

Thursday, 23 April 2015

Freeport considers energy spinoff two years after diversifying

PHOENIX, Arizona (Bloomberg) -- Freeport McMoRan Inc. is considering spinning off energy assets two years after agreeing to acquire them for $9 billion as it tries to finance development plans amid lower commodity prices. More »

Turning Bakken oil well waste water into clean geothermal power

CALGARY (Bloomberg) -- Oil fracing companies seeking to improve their image and pull in a little extra cash are turning their waste water into clean geothermal power. More »

USGS issues report on wastewater injection-induced earthquakes

The U. S. Geological Survey (USGS) has released a report that outlines a preliminary set of models to forecast how hazardous ground shaking could be in the areas where sharp increases in seismicity have been recorded. More »

Suncor awards Athabasca oil sands contract to Fluor

Fluor Corporation was awarded an engineering, procurement, fabrication and construction (EPFC) contract by Suncor Energy Oil Sands Limited Partnership for a tank farm development project in the Athabasca oil sands region in Alberta, Canada. More »

U.S. shale fracklog triples as operators keep oil from market

Think the U.S. is awash in crude now? Thank the fracklog that it’s not worse. More »

OneSubsea awarded contract for BP West Nile Delta Taurus Libra

HOUSTON -- OneSubsea, a Cameron and Schlumberger company, has been awarded a multi-million dollar contract to supply subsea systems for the BP West Nile Delta Taurus Libra development, offshore Egypt. More »

IHS CERAWeek ’15: Gas leaders see small-scale LNG gaining momentum

HOUSTON -- At IHS CERAWeek '15 conference's 'Natural Gas Day', Daniel Yergin, Vice Chairman of IHS, chaired a plenary session on maintaining momentum in the global gas market. More »

IHS CERAWeek ’15: Gas leaders see small-scale LNG gaining momentum

HOUSTON -- At IHS CERAWeek '15 conference's 'Natural Gas Day', Daniel Yergin, Vice Chairman of IHS, chaired a plenary session on maintaining momentum in the global gas market. More »

BP sells stake in CATS pipeline for $486 million

BP has agreed to sell its equity in the Central Area Transmission System (CATS) business in the UK North Sea to Antin Infrastructure Partners for $486 million. More »

Offshore MMO spend to contract 12% in 2015, Douglas-Westwood says

Douglas-Westwood are forecasting a 12% decline in offshore maintenance, modifications and operations (MMO) expenditure compared to 2014, when spend on services for the world’s 8,061 offshore platforms totaled $95 billion. More »

Domino could trigger knock on effect for Black Sea investment, Wood Mackenzie says

Wood Mackenzie has presented its latest analysis of the competitiveness of Black Sea deepwater developments and the significant Domino discovery, which look set to dramatically influence the region’s gas supply dynamics and corporate landscape, at the annual BBSPA conference in Vienna. More »

InterMoor completes mooring replacement project offshore Equatorial Guinea

InterMoor Inc., an Acteon company and part of its foundations and moorings business, finished replacing critical components in an FPU mooring system offshore Equatorial Guinea on schedule, enabling the prime contractor, Boskalis, to expand the InterMoor work scope. More »

CNOOC brings Bohai Sea's Kenli 10-1 oilfield online

CNOOC has commenced production at the Kenli 10-1 oilfield in the Bohai Sea, the company said Thursday. More »

BP’s Australian drilling to start later than expected in 2016

BP expects to start drilling an untapped oil frontier off the coast of southern Australia later than it had estimated, citing the potential for a delay in the delivery of the rig. More »

Petrobras graft scandal finally has price tag: $2.1 billion

Brazil’s national oil company said a graft scandal cost it 6.2 billion reais ($2.1 billion) following a five-month internal debate that shut off access to bond markets, cost the chief executive her job and destabilized the country’s politics. More »

Pennsylvania's Lackawanna College invests in virtual well control training system

Check-6's Well Control VI (Virtual Instructor) training system has been purchased by Lackawanna College School of Petroleum and Natural Gas through a $150,000 technology grant from the Pennsylvania Department of Labor and Industry Bureau of Workforce Investment Administration. The system will be installed at the New Milford, Pennsylvania-based college by the end of Fall 2015. More »

Fugro commissions additional airborne laser bathymetry system for South West Pacific survey campaign

Fugro has commissioned an additional airborne laser bathymetry system to underpin its leading position in the development and application of bathymetric LiDAR technology. More »

Half of U.S. fracing companies will be dead or sold this year

Half of the 41 fracing companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International said. More »

BP sells stake in CATS pipeline for $486 million

BP has agreed to sell its equity in the Central Area Transmission System (CATS) business in the UK North Sea to Antin Infrastructure Partners for $486 million. More »

Pennsylvania's Lackawanna College invests in virtual well control training system

Check-6's Well Control VI (Virtual Instructor) training system has been purchased by Lackawanna College School of Petroleum and Natural Gas through a $150,000 technology grant from the Pennsylvania Department of Labor and Industry Bureau of Workforce Investment Administration. The system will be installed at the New Milford, Pennsylvania-based college by the end of Fall 2015. More »

Offshore MMO spend to contract 12% in 2015, Douglas-Westwood says

Douglas-Westwood are forecasting a 12% decline in offshore maintenance, modifications and operations (MMO) expenditure compared to 2014, when spend on services for the world’s 8,061 offshore platforms totaled $95 billion. More »

Half of U.S. fracing companies will be dead or sold this year

Half of the 41 fracing companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International said. More »

Domino could trigger knock on effect for Black Sea investment, Wood Mackenzie says

Wood Mackenzie has presented its latest analysis of the competitiveness of Black Sea deepwater developments and the significant Domino discovery, which look set to dramatically influence the region’s gas supply dynamics and corporate landscape, at the annual BBSPA conference in Vienna. More »

Fugro commissions additional airborne laser bathymetry system for South West Pacific survey campaign

Fugro has commissioned an additional airborne laser bathymetry system to underpin its leading position in the development and application of bathymetric LiDAR technology. More »

InterMoor completes mooring replacement project offshore Equatorial Guinea

InterMoor Inc., an Acteon company and part of its foundations and moorings business, finished replacing critical components in an FPU mooring system offshore Equatorial Guinea on schedule, enabling the prime contractor, Boskalis, to expand the InterMoor work scope. More »

CNOOC brings Bohai Sea's Kenli 10-1 oilfield online

CNOOC Ltd. has commenced production at the Kenli 10-1 oilfield in Bohai Sea on Thursday. More »

BP’s Australian drilling to start later than expected in 2016

BP expects to start drilling an untapped oil frontier off the coast of southern Australia later than it had estimated, citing the potential for a delay in the delivery of the rig. More »

Petrobras graft scandal finally has price tag: $2.1 billion

Brazil’s national oil company said a graft scandal cost it 6.2 billion reais ($2.1 billion) following a five-month internal debate that shut off access to bond markets, cost the chief executive her job and destabilized the country’s politics. More »

Lackawanna College receives technology grant; purchases Check-6's Well Control VI training system

Check-6's Well Control VI (Virtual Instructor) training system has been purchased by Lackawanna College School of Petroleum and Natural Gas through a $150,000 technology grant from the Pennsylvania Department of Labor and Industry Bureau of Workforce Investment Administration. More »

Furgo commissions additional airborne laser bathymetry system for South West Pacific survey campaign

Fugro has commissioned an additional airborne laser bathymetry system to underpin its leading position in the development and application of bathymetric LiDAR technology. More »

Half of U.S. fracking companies will be dead or sold this year

Half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International said. More »

Wednesday, 22 April 2015

Weatherford raises job cuts target to 10,000

Weatherford has increased its workforce reduction target to 10,000 people, the service provider said Wednesday as it announced a 22% drop in year-on-year first quarter revenue. More »

Weatherford raises job cuts to 10,000

Weatherford has increased its workforce reduction target to 10,000 people, the service provider said Wednesday as it announced a 22% drop in year-on-year first quarter revenue. More »

Not ‘critical’ for U.S. to lift oil export ban now, EIA chief says

The U.S. can wait to lift the ban on crude exports because slowing production will give refiners time to handle the type of oil produced in shale plays, Energy Information Administration chief Adam Sieminski said. More »

U.S. well completions down 8% in first quarter, API says

Estimated total U.S. oil and natural gas well completions decreased by 8% in the first quarter of 2015 compared to year-ago levels, according to API's 2015 Quarterly Well Completion Report, First Quarter. More »

ConocoPhillips deepwater wells disappoint offshore Angola, Gulf of Mexico

ConocoPhillips has struck out with two exploration wells, one offshore Angola and the other in the Gulf of Mexico, the company announced Wednesday. More »

Gazprom accused of market-power abuse to raise EU gas prices

European Union regulators attacked OAO Gazprom’s pricing structure throughout the eastern part of the continent, further straining political relations between the 28-nation bloc and Russia. More »

IHS CERAWeek 2015: Lukoil leader sees low oil limiting industry nationalism

The ongoing era of lower oil prices is set to be a driving force behind decreased resource nationalism, according to the president of Russian oil major Lukoil. More »

IHS CERAWeek 2015: Lukoil leader sees low oil limiting industry nationalism

The ongoing era of lower oil prices is set to be a driving force behind decreased resource nationalism, according to the president of Russian oil major Lukoil. More »

OTC, United Against Human Trafficking announce partnership

The Offshore Technology Conference, which takes place 4–7 May in Houston, and United Against Human Trafficking (UAHT) have announced a partnership to increase awareness of human trafficking. More »

Total sees deep water, LNG acquisition potential as oil falls

Total SA said it may take advantage of the slump in crude to make acquisitions that build on the strengths of Europe’s third-biggest oil company in deepwater offshore fields and LNG. More »

Transocean names new president, CEO

Transocean Ltd. has named Jeremy D. Thigpen as the President and CEO effective Apr. 22. More »

Statoil awards Ferus CO2 service contract for Bakken test well

Statoil has awarded a major carbon dioxide (CO2) supply and service contract to Denver-based Ferus LP, a provider of energized fluids (liquid CO2 and liquid nitrogen) to the North American oil and gas industry. More »

Det norske hits oil with Ivar Aasen appraisal wells

STAVANGER, Norway -- Det norske oljeselskap AS, operator of production licence 001 B, has completed the drilling of appraisal wells 16/1-21 S and 16/1-21 A on Ivar Aasen field, the Norwegian Petroleum Directorate reports. More »

Sembcorp Marine subsidiary wins FSO conversion contract for Gina Krog field

Sembawang Shipyard, a wholly owned subsidiary of Sembcorp Marine, has secured a floating storage and offloading (FSO) conversion contract from Teekay, worth about $42 million, for Gina Krog field in the North Sea. More »

Noble Energy agrees to improve air emission controls in DJ basin

Noble Energy, Inc. has announced an agreement with the U.S. Environmental Protection Agency (EPA), the U.S. Department of Justice (DOJ) and the State of Colorado to improve emission control systems on a number of oil storage tanks located within the Denver-Julesberg basin (DJ basin) that may no longer comply with air regulations. More »

CGG acquires Taurus Reservoir Solutions

CGG announced Wednesday that its GeoConsulting Business Line has acquired Taurus Reservoir Solutions Ltd., based in Calgary, Alberta. Taurus offers reservoir and geomechanical simulation and engineering technology along with consulting services to the global petroleum industry. More »

Iraq oil output growth seen slow by BP, Lukoil on low prices

Growth in Iraq’s oil production capacity may slow as lower crude prices hurt the ability of OPEC’s number two producer to pay international oil companies for work there, officials from BP Plc and OAO Lukoil said. More »

Canada oil growth output poised to fall 59% after price collapse

Canada’s crude output growth will slow to 17,000 bpd by next year after oil lost half its value, according to the Canadian Energy Research Institute. More »

Det norske hits oil at two wells in North Sea's Ivar Aasen field

Det norske, as operator of the Ivar Aasen field, has completed drilling of two geo pilot wells viz. 16/1-21 S and 16/1-21 A in the North Sea. More »

Statoil awards Ferus major CO2 service contract in North Dakota

Statoil has demonstrated environmental and economic leadership by awarding a major carbon dioxide (CO2) supply and service agreement to Denver-based Ferus LP, the premier provider of energized fluids (liquid CO2 and liquid nitrogen) to the North American oil and gas industry. More »

Strongwell inks licensing and technology agreement with Fibratore

Strongwell Corporation, a company involved in pultrusion of fiber reinforced polymers (FRP), has entered into an exclusive licensing and technology agreement in Central and South America with Fibratore S.A., designer and manufacturer of FRP components. More »

TAM International introduces premier cementable toe sleeve

TAM International has introduced a new technology, the TAM PosiFrac Toe Sleeve (PTS), as a part of its PosiFrac product line. More »

Transocean appoints Jeremy D. Thigpen as President and CEO

Transocean Ltd. has named Jeremy D. Thigpen as the President and CEO effective Apr. 22. More »

Tuesday, 21 April 2015

Baker Hughes reports 20% lower revenue, expects continued rig count drop

HOUSTON – The downdraft in the rig count looks set to continue as “unfavorable market conditions” persist throughout the second quarter, Baker Hughes said Tuesday as the company unveiled its first quarter results. First quarter 2015 revenue was $4.6 billion, down 20% from the like period last year. More »

IHS CERAWeek 2015: Exxon Mobil's Tillerson says to “settle in” to lower price environment

Exxon Mobil CEO Rex Tillerson said that industry participants should accept the low pricing environment, as vast new sources of supply—especially in North America—reflect the dramatic transformation in the oil and gas landscape. More »

IHS CERAWeek 2015: Exxon Mobil's Tillerson says to “settle in” to different price environment

Exxon Mobil CEO Rex Tillerson said that industry participants should accept the low pricing environment, as vast new sources of supply—especially in North America—reflect the dramatic transformation in the oil and gas landscape. More »

IHS CERAWeek 2015: Exxon Mobil leader says to “settle in” to different price environment

The CEO of Exxon Mobil said that industry participants should accept the low pricing environment, as vast new sources of supply—especially in North America—reflect the dramatic transformation in the oil and gas landscape. More »

Exxon Mobil president calls for urgent action on U.S. LNG exports

The U.S. is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves to approve LNG exports, Rob Franklin, president of ExxonMobil Gas and Power Marketing Company, said Monday. More »

Gazprom said to get EU antitrust complaint on gas this week

OAO Gazprom will get an antitrust complaint from the European Union as soon as Wednesday in a two-year-old probe into gas pricing that’s been delayed amid political tension in Ukraine, according to an EU official. More »

Operators to collaborate on Barents Sea exploration

Statoil, Eni Norge, Lundin Norway, OMV and GDF SUEZ will collaborate on solving operational tasks tied to exploration in the Barents Sea. More »

IHS CERAWeek 2015: Easy cash for oil industry to prolong slump, Occidental CEO says

Easy cash for oil explorers will prolong the supply glut that has slashed prices and profits by buoying companies that otherwise would shrink or die, said Occidental Petroleum CEO Stephen Chazen. More »

World’s biggest oil trader says crude price can’t drop much more

Vitol Group, the world’s biggest independent oil trader, said the cost of finding and pumping crude will prevent prices from dropping much lower than where they are now for prolonged periods. More »

Norway launches expanded licensing round

OSLO, Norway -- Norway’s Ministry of Petroleum and Energy has announced this year’s licensing round for the geologically well know areas on the Norwegian Continental Shelf—Awards in Predefined Areas (APA) 2015. More »

Norway launches new licensing round

OSLO, Norway -- Norway’s Ministry of Petroleum and Energy has announced this year’s licensing round for the geologically well know areas on the Norwegian Continental Shelf—Awards in Predefined Areas (APA) 2015. More »

Exxon president calls for urgent action on U.S. LNG exports

The U.S. is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves to approve LNG exports, Rob Franklin, president of ExxonMobil Gas and Power Marketing Company, said Monday. More »

Statoil and majors to collaborate on exploration in Barents Sea

Statoil, Eni Norge, Lundin Norway, OMV and GDF SUEZ will collaborate on solving operational tasks tied to exploration in the Barents Sea. More »

Sen. Menendez, Congressman Pallone to introduce offshore drilling ban in Atlantic Ocean

On Monday, on the five-year anniversary of the Deepwater Horizon oil spill, Senator Bob Menendez and Congressman Frank Pallone have announced that they will introduce a bill to ban offshore dilling in the Atlantic Ocean. More »

Woodside withdraws from Rabat Deep permit offshore Morocco

Chariot has announced that its partner Woodside, in the Rabat Deep permit, offshore Morocco, has elected not to take operatorship and fund the drilling of an exploration well in return for an additional 25% equity stake. More »

Deep Sea Supply appoints new CEO

Deep Sea Supply's Board of Directors has appointed Jon Are Gummedal as new CEO of the company. More »

Senator plans Bill this year to lift U.S. oil export ban

U.S. Senator Lisa Murkowski, chairman of the Energy and Natural Resources Committee, plans to push for legislation this year that would remove the ban on crude-oil exports. More »

Iran oil return seen no closer as Obama seeks creative angle

The return of embargoed Iranian crude oil to global markets looks no more imminent than before President Barack Obama appeared to leave open the possibility of lifting most sanctions from the outset if a nuclear deal can be reached, BNP Paribas SA and UBS Group AG said. More »

Big oil courts consumer allies in battle to end U.S. export ban

In a quest to overturn the decades-old restrictions on exporting American crude, the oil industry is seeking the help of an unlikely ally: consumers. More »

Oil halts rally as U.S. crude stockpiles seen exacerbating glut

Oil halted its advance above $57/bbl before U.S. government data forecast to show crude stockpiles expanded further from a record. More »

ABS appoints new CTO

ABS has appointed Howard Fireman to the position of Senior V.P. and Chief Technology Officer (CTO) in a move that strengthens alignment and generates further synergies across all of ABS' technical programs. More »

Easy cash for oil industry to prolong slump, Occidental CEO says

Easy cash for oil explorers will prolong the supply glut that has slashed prices and profits by buoying companies that otherwise would shrink or die, said Occidental Petroleum CEO Stephen Chazen. More »

BP readies defenses as oil industry responds to Shell’s BG raid

As the oil industry takes stock of Royal Dutch Shell’s $70 billion move for BG Group, one company has more to chew on than most. More »

Monday, 20 April 2015

IHS CERA Week 2015: "Time to lift sanctions against crude oil exports"

HOUSTON -- On the opening day of IHS CERAWeek, Sen. Lisa Murkowski (R-Alaska), Chairman of the U.S. Senate Energy and Natural Resources Committee, told attendees at the annual energy conference that “now is the prime time to make lasting improvements” in U.S. Energy Policy. More »

Sen. Murkowski pursuing comprehensive energy bill, says time to lift the export ban

HOUSTON -- On the opening day of IHS CERAWeek, Sen. Lisa Murkowski (R-Alaska), Chairman of the U.S. Senate Energy and Natural Resources Committee, told attendees at the annual energy conference that “now is the prime time to make lasting improvements” in U.S. Energy Policy. More »

Atwood Osprey’s contract shortened by one year

More »

Halliburton beats estimates, boosts job cuts after oil crash

Halliburton Co. beat analysts’ estimates and accelerated the pace of job cuts ahead of a planned $34.6-billion takeover of Baker Hughes Inc. More »

AGR awarded frame agreement with DEA

Global oil and gas service company AGR has announced the award of a well engineering and operational support services contract with DEA Norge. More »

Exxon and employees donate $10 million to Texas colleges, universities

Exxon Mobil and its employees are donating $10 million to higher education institutions across Texas as part of the ExxonMobil Foundation’s 2014 Educational Matching Gift Program. More »

Operators, governments commit to end routine gas flaring

Chief executives from major oil companies joined together with senior government officials from several oil-producing countries on Sunday to commit, for the first time, to ending the practice of routine gas flaring at oil production sites by 2030 at the latest. More »

Halliburton beats estimates as oil crash slows drilling

Halliburton Co., which is selling assets to win approval for its $34.6 billion takeover of Baker Hughes Inc., beat analysts estimates and reported a first-quarter loss after the crude market crash forced customers to slow drilling. More »

Eni doubles output in Egypt’s Western Desert

Eni has reached a record level of production—70,000 bopd—in Egypt's Western Desert, doubling its output in the area in just three years. The increase was mainly achieved thanks to the Melehia development lease, located 290 km west of Alexandria. More »

Operators, countries commit to end routine gas flaring

Chief executives from major oil companies joined together with senior government officials from several oil-producing countries on Sunday to commit, for the first time, to ending the practice of routine gas flaring at oil production sites by 2030 at the latest. More »

BG acquisition kick starts fulcrum year for mega gas: DW Monday

2015 may well be remembered as the year when natural gas truly announced itself as the major energy fuel source, according to Douglas-Westwood’s DW Monday. More »

Lundin Petroleum names new operations V.P.

More »

Repsol in Algerian gas discovery

Repsol has made its third gas discovery in the Illizi basin, in the southeast of Algeria. More »

Karoon encounters oil at Echidna-1 well in Santos basin

Karoon Gas Australia has confirmed a 213 m gross oil column in the Echidna-1 exploration well from wireline pressure data across the Paleocene and Maastrichtian aged reservoir intervals. More »

Sunday, 19 April 2015

Oil resumes rally on China stimulus as U.S. rig count declines

Oil resumed its rally as China took steps to stimulate its economy and drillers in the U.S. reduced the number of active rigs to the fewest since November 2010. More »

Colombia’s Ecopetrol may farm-out oil production stakes in 2015

Colombia’s state-controlled oil company Ecopetrol may farm-out some production assets as part of its effort to improve its portfolio, said Simon Gaviria, head of the National Planning Department. More »

Shale as world’s swing producer signals ‘jagged’ oil future

With OPEC ceding control for the first time since the 1980s, U.S. shale oil has been anointed the world’s new 'swing producer' by everyone from ConocoPhillips and Goldman Sachs Group to former Fed Chairman Alan Greenspan. More »

Sen. Murkowski welcomes BLM cleanup of six NPR-A legacy wells

U.S. Sen. Lisa Murkowski, R-Alaska, congratulated Bureau of Land Management (BLM) officials in Alaska, on Friday, for completing the cleanup of six legacy wells in the National Petroleum Reserve-Alaska (NPR-A). More »
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