Brazil to ease oil company fines for Buy-Brazil breaches

Brazil’s oil regulator plans to ease future fines for producers who fail to meet strict local-content guidelines as the country seeks to accelerate development of offshore oil and gas resources. More »

Ex-BP executive acquitted of lying about size of Macondo spill

A former BP Plc executive charged with lying to investigators about the 2010 Gulf of Mexico oil spill was acquitted by a New Orleans jury, a blow to prosecutors as the company awaits word on billions of dollars in potential fines for the disaster. More »

Oil’s slide gives senior lenders upper hand in bankruptcy talks

Tumbling oil prices have helped put asset-based senior lenders in the driver’s seat when it comes to restructuring distressed energy companies. More »

Apache Corp. completes sale of Australian operations

Apache Corp. has completed the sale of its Australian subsidiary, Apache Energy Limited, to a consortium of private equity funds managed by Macquarie Corporate Holdings Limited and Brookfield Asset Management Inc. More »

Atwood Oceanics names new CFO

Atwood Oceanics, Inc. has appointed Mark W. Smith as the company's senior V.P. and CFO, the Houston-based company has announced. More »

OPEC unyielding in plan to stifle rivals as crude keeps gushing

OPEC again agreed to cede no ground to rival producers, keeping its faith that U.S. shale drillers and other higher-cost rivals will capitulate first. More »

India’s oil addiction to vault nation into top three global guzzlers

India’s growing middle class will soon make it the third-biggest oil consumer, reshaping the global energy map as China uses less and the U.S. produces more. More »

The time to end oil export ban is now, Murkowski tells U.S. Senate

U.S. Senator Lisa Murkowski (R - Alaska) highlighted the importance of allowing American crude oil to compete in the global marketplace Thursday and said that lifting the ban on oil exports was a “crucial issue” at the intersection of national security and energy policy. More »

Indonesia joins line for Iran oil amid talks to rejoin OPEC

Indonesia is seeking a long-term oil supply deal with Iran in anticipation of a possible end to sanctions against the Persian Gulf nation over its nuclear program. More »

Schlumberger report upgrades Gatwick Airport oil find

UK Oil and Gas Investments announced Friday that Schlumberger has independently assessed the petrophysics of the Horse Hill-1 well (HH-1). The well is located in PEDL137, in the Weald basin, near to London’s Gatwick Airport. UKOG has a net attributable interest of 20.358% in PEDL137. More »

Fracing study undercuts environmentalists’ calls for regulation

It was always a longshot that the Obama administration or Congress would crack down on the golden goose of hydraulic fracturing. More »

Cenovus buys rail loading terminal from Canexus for $75 million

Cenovus Energy Inc. has agreed to purchase Canexus Corporation's North American Terminal Operations (NATO), a crude-by-rail trans-loading facility, for $75 million, subject to adjustments. More »

$16.5 million settlement reached in crude oil commodities and antitrust litigation

Two London-based companies and certain employees involved in trading West Texas Intermediate crude oil (WTI) and oil futures have agreed to pay $16.5 million to settle a lawsuit accusing the defendants of artificially manipulating the price of oil in order to reap huge profits. More »

The time to end crude oil export ban is now, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska, on Thursday highlighted the importance of allowing American crude oil to compete in the global marketplace and said that lifting the ban on oil exports was a “crucial issue” at the intersection of national security and energy policy. More »

Woodside to investigate LNG developments in Texas

Woodside Energy (USA) Inc. (WUSA), an affiliate of Woodside, has entered into a non-binding Memorandum Of Understanding (MOU) with Sempra LNG, an affiliate of Sempra Energy. More »

India’s oil addiction to vault nation into top thee global guzzlers

India’s growing middle class will soon make it the third-biggest oil consumer, reshaping the global energy map as China uses less and the U.S. produces more. More »

Pilfering data shows stakes are high in Colombia offshore quest

Untapped offshore deposits are so important to Colombia’s flagging oil industry that some people aren’t waiting for the release of exploration results. Thieves made off with discs containing copies of seismic data belonging to Repsol SA and Canacol Energy Ltd. More »

IEA cuts natural gas growth outlook as Asian demand falters

Global natural gas use will rise at a slower pace than previously forecast amid lower-than-expected growth in Asian demand, said the International Energy Agency, cutting its outlook for a third consecutive year. More »

Shale’s resilience vindicates Conoco CEO on return to OPEC

When Ryan Lance, CEO of ConocoPhillips, told an OPEC conference in 2012 the industry was under-estimating shale, oil was trading near $100/bbl and his warning fell on deaf ears. More »

EPA hydraulic fracturing review confirms safety

A draft report by the Environmental Protection Agency (EPA) confirms that hydraulic fracturing has not led to widespread, systemic impacts on drinking water resources thanks to the safety and effectiveness of state and federal regulations, and current industry practices. More »

Magnitude redefines microseismic fracture monitoring and refracturing efficiency

Magnitude, a Baker Hughes company, has announced the commercial release of two new offerings, the IntelliFrac VSP-Enhanced monitoring service and the IntelliFrac Recomplete service, as part of the company’s line of IntelliFrac advanced microseismic services. More »

UK well services contractors report steady but slowing demand in '14

Demand for the expertise of well services contractors operating in UK waters remained steady according to figures in the 2015 Oil and Gas UK Well Services Contractors Report published on Jun. 3, which looks back at how the sector fared in 2014. More »

Novatek signs long-term LNG contract with Shell

OAO Novatek announced Thursday that Novatek Gas and Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project. More »

Petrofac to support new North Sea gas field operator

Petrofac has secured a contract to support Oranje-Nassau Energie (ONE) UK Limited, a subsidiary of Amsterdam-based oil and gas producer Oranje-Nassau Energie B.V., as the company has become operator of Sean gas field in the Southern North Sea as of June 1. More »

Gazprom Neft completes first winter sea shipments of oil from Yamal

Initiated in February 2015, Gazprom Neft has completed its first winter shipments of oil from Novoportovskoye field, becoming the first company in the Russian oil and gas sector to dispatch oil from Yamal by sea under winter conditions. More »

Lundin’s Morkel wildcat disappoints offshore Norway

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has completed the drilling of wildcat well 33/2-2 S. More »

McDermott wins Ayatsil-C EPCI contract from PEMEX

McDermott International has been awarded an offshore contract by Petróleos Mexicanos (PEMEX) for the engineering, procurement, construction, installation (EPCI) and pre-commissioning of the Ayatsil-C replacement jacket and associated deck installation. More »

Prepare for $40 oil by year-end, ex-OPEC research head says

Brent crude will be lower by the end of the year as production is set to increase from Iraq and Iran, shale oil output stabilizes while demand slows, according to OPEC’s former head of research. More »

U.S. oil exports add to global glut as OPEC resists cuts

For a nation that bans most oil exports, the U.S. still finds a way to ship more abroad than at least two OPEC members. More »

Magnitude releases two new IntelliFrac microseismic services

Magnitude, a Baker Hughes company, has announced the commercial release of two new offerings, the IntelliFrac VSP-Enhanced monitoring service and the IntelliFrac Recomplete service, as part of the company’s line of IntelliFrac advanced microseismic services. More »

CGG GeoSoftware launches new Insight Earth 3.0

CGG GeoSoftware has launched version 3.0 of Insight Earth, its advanced 3D visualization and interpretation software, offering a fresh approach to extracting geological knowledge from seismic data. More »

Steady but slowing demand in 2014: Oil and Gas UK Well Services Contractors Report

Demand for the expertise of well services contractors operating in UK waters remained steady according to figures in the 2015 Oil and Gas UK Well Services Contractors Report published on Jun. 3, which looks back at how the sector fared in 2014. More »

Xodus Subsea strengthens management team in the Americas

Xodus Subsea has appointed a General Manager and Business Development Manager to drive activity in the Americas, as the company aims to challenge the largest tier one subsea engineering companies for a share of the market in the region. More »

CRU opens third frac sand transloading facility in South Texas

CRU Logistics has opened its third frac sand transloading facility in South Texas. The terminal, known as its 'light model' is located at the Alamo Junction Rail Park (a dual-served industrial park) in Elmendorf; placing it within 50 miles of the Eagle Ford's core counties. More »

OPEC braces for more oil as Iran, Iraq declare plans to expand

Never mind cutting output to staunch a global glut, the talk so far at this week’s OPEC summit is mostly about pumping more oil. More »

Alberta wildfire 3 days from containment as crude output rises

An Alberta wildfire that shut 10% of Canada’s oil sands production won’t be contained for three days as Canadian Natural Resources Ltd. ramped up production at its Kirby South site. More »

IPAA: Lifting the restrictions on U.S. crude exports a top priority

IPAA President Barry Russell has sent a letter to House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) in support of his recent comments on U.S. crude oil exports at Tuesday’s Subcommittee hearing. More »

Economists call for end to U.S. oil export ban

The economic case for allowing U.S. crude oil exports has been laid bare by a new paper released Wednesday. More »

Eni, Shell and BP seek Iran access after end of sanctions

European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program. More »

BG Group completes sale of QCLNG pipeline

BG Group has completed the sale of its wholly owned, 543-km pipeline network linking natural gas fields and the Queensland Curtis liquefied natural gas (QCLNG) export facility to APA Group. More »

Oil price plunge forces soul-searching on Alaska's state budget

Oil has been Alaska’s lifeline. The collapse of crude prices could change everything. Lawmakers are embroiled in a stalemate over how to fill a $3.5 billion deficit after oil’s plunge sapped two-thirds of the state’s revenue. More »

Methane emissions threaten to undermine natural-gas offensive

Discussion of methane leakage at the World Gas Conference in Paris came in the midst of an industry offensive by the biggest oil companies to promote natural gas as the cleanest fossil fuel. More »

EandY: U.S. oil and gas capex, revenues and reserves continued to soar in 2014

Low oil prices in December had little impact on 2014 reporting of US oil and gas industry spending, reserves and revenues, according to EY’s eighth annual U.S. oil and gas reserves study. More »

CGG launches lowest-noise FALCON Plus airborne gravity gradiometry technology

CGG announced the launch of FALCON Plus, the newest release in the highly successful suite of FALCON airborne gravity gradiometer (AGG) systems, halving the survey data noise of the world’s best AGG and providing more effective exploration capabilities. More »

Rosneft hires Gazprom’s Baranov to head investor relations

OAO Rosneft hired Andrey Baranov from OAO Gazprom to head investor relations as Russia’s largest oil producer seeks to add institutional shareholders. More »

Shell expects oil rebound as shale fails to fill supply gap

Royal Dutch Shell Plc sees oil prices rising because supply from shale drilling in the U.S. won’t be enough to satisfy growing global demand. More »

Shell, BP openly declare Iran interest on potential nuclear deal

European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program. More »

OPEC’s shale war leaves big oil companies as unexpected casualty

When OPEC started a price war last November, driving oil down to its current $65 bbl, U.S. shale drillers looked doomed. Six months later, it’s the world’s largest oil companies that are emerging as the unexpected casualties. More »

Oil retreats as Barclays sees possibility of OPEC quota increase

Oil declined amid speculation that the Organization of Petroleum Exporting Countries may increase its production quota when the group meets on Friday. More »

NOVATEK concludes long-term LNG contract with ENGIE

Novatek Gas and Power concluded a long-term contract with ENGIE (formerly GDF SUEZ) on the supply of LNG from the Yamal LNG project. More »

Petrobras discovers new oil accumulation at Poço Verde area, in Sergipe Basin

Petrobras informs that well 3-SES-189, located at BM-SEAL-4 concession, discovers new oil accumulation in Sergipe Basin´s ultra-deep waters. More »

Baker Hughes introduces integrated reservoir modeling software

Baker Hughes has announced commercial release of its next-generation JewelSuite™ 6 software, which helps operators improve data-driven decisions across all EandP domains with integrated applications for geological modeling and reservoir engineering, geomechanical modeling, and reservoir stimulation. More »

Exxon CEO says Europe should see climate benefits of shale gas

Exxon Mobil CEO Rex Tillerson said Europe should see the “tremendous environmental benefits” of producing natural gas from shale, pointing to the U.S. output boom as a model for cutting greenhouse-gas emissions. More »

Gazprom pursues production from Bazhenov shale amid U.S. sanctions

Gazprom Neft, the oil arm of Russia’s state-run gas exporter, said commercial production from its Bazhenov shale formations could start in three years amid U.S. sanctions limiting the transfer of fracing technology. More »

PGS and OMP enter sale and leaseback agreement of PGS Apollo

Petroleum Geo-Services ASA (PGS) has entered into a sale and leaseback agreement of PGS Apollo, the only non-Ramform designed 3D vessel in the PGS fleet, and the best suited vessel for such a transaction. More »

Harkand completes first campaign for BG in Caribbean

Global operator in the subsea inspection, repair and maintenance sector (IRM), Harkand, has successfully completed its first campaign in the Caribbean for BG Trinidad and Tobago. More »

Abu Dhabi missing 2017 target for oil-output capacity boost

Abu Dhabi will be at least a year late in boosting its crude-production capacity to a record 3.5 MMbpd, according to officials at the state-owned oil company. More »

Iran said to plan better terms to lure foreign oil groups back

Iran, seeking billions of dollars to revitalize its ailing oil industry, plans to offer significantly better commercial terms to companies prepared to invest than offered during the last market opening nearly two decades ago. More »

Chevron equipment loss in rough seas challenges growth plan

Chevron Corp. indefinitely delayed a $5.1-billion oil development in the U.S. Gulf of Mexico after an equipment failure, casting doubt on the company’s ability to meet its target of 20% output growth by the end of 2017. More »

Repsol tests two exploration wells on Alaska's North Slope

Repsol has completed testing in two wells during its winter exploration campaign in Alaska with better-than-expected yields of good quality crude which, added to the positive results from previous campaigns. More »

CGG completes fast-track depth imaging in record nine days

CGG has completed in record time the fast-track results for a 1,748-sq km BroadSeis 3D marine acquisition and depth imaging project. More »

BP and Dana Gas to conduct joint exploration offshore Egypt

Dana Gas has completed an agreement with BP, whereby BP will carry Dana Gas for the drilling of a first exploration well in the El Matariya onshore Concession Area, Nile Delta in Egypt. More »

Russia producing oil near record swells global glut before OPEC meeting

Russian oil output neared a record in May, damping speculation before OPEC meets this week that major producers may cooperate to curb a global supply glut. More »

FMC Technologies, Technip complete Forsys Subsea JV

FMC Technologies, Inc. and Technip have announced that Forsys Subsea, a 50/50 JV, has received all regulatory approvals. The parties closed the transaction making Forsys Subsea operational on Jun. 1. More »

Sercel launches new super-heavy broadband vibrator, Nomad 90 Neo

Sercel has launched the Nomad 90 Neo, its new super-heavy broadband vibrator. The Nomad 90 Neo benefits from major improvements in vibrator mechanical design as well as new functionalities to offer improved productivity and reliability. More »

Emerson acquires Energy Solutions International

Emerson has acquired Energy Solutions International Holdings, Inc., a global supplier of decision support software and services that enhance operational efficiency, commercial profitability and safety across the oil and gas pipeline, storage, marketing and distribution functions. More »

CGG GeoSoftware releases new Hampson-Russell software suite

CGG GeoSoftware has released HRS 10.0, a major release of its industry-leading Hampson-Russell seismic interpretation and reservoir characterization software suite. More »

Sercel GeoWave II tool breaks downhole temperature records

NANTES, France -- Sercel has announced that, on Monday, its recently launched downhole seismic array tool, GeoWave II, broke temperature records during field trials. More »

Keppel to deliver another three jackup rigs to Mexico's Grupo R

Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine Ltd. (Keppel OandM), is on track to deliver three KFELS B Class jackup rigs to Mexican company, Grupo R, safely, on time and on budget. More »

Noble Energy to donate $100,000 for flood relief and recovery in Texas

Noble energy has announced that the company will donate $100,000 to the American Red Cross Greater Houston Area Chapter in support of disaster-relief and recovery efforts for the communities affected by floods. More »

Statoil bags four licenses offshore Nicaragua

Statoil has been awarded four licenses offshore the Nicaraguan Pacific. More »

TGS extends LOA for 3D surveys in Northwest Europe

TGS has elected to extend the Letter of Award (LOA) signed with Polarcus DMCC to acquire a further 3,000 sq km of multi-client 3D seismic in the Norwegian Barents Sea. More »

Alberta oil sands companies prepare to return as fire eases

Companies in Alberta prepared to return to work as rain eased a wildfire that prompted the shutdown of 10% of Canada’s oil sands production. More »

LLOG hits oil at Crown and Anchor prospect in Gulf of Mexico

LLOG Exploration and its partners Ridgewood Energy and Stone Energy Corp. have drilled a successful exploration test at the Viosca Knoll 959 “Crown and Anchor” prospect. More »

Saudi oil market share strategy is working, Al-Naimi says

Saudi Arabia’s oil minister said the kingdom’s efforts to focus on market share are working just days before OPEC meets to discuss production. More »

ConocoPhillips reports first steam at Surmont 2 oil sands project

ConocoPhillips achieved a significant milestone at its Surmont oil sands project in Canada with the on-schedule start of first steam at phase 2 on May 29. More »

Spectrum buys Fugro’s global multi-client library for $115 million

Spectrum has entered into an agreement for the acquisition of Fugro’s multi-client library for a price of $115.0 million on a cash- and debt-free basis. The transaction is fully funded through a combination of bank debt and a fully guaranteed share issue. More »

Chevron to move Big Foot to sheltered waters after damage to installation tendons

Chevron is moving the Big Foot tension-leg platform (TLP) to sheltered waters from its location in the deepwater U.S. Gulf of Mexico following damage to subsea installation tendons. No injuries, platform undamaged and not connected to subsea wells or tendons at time of incident. More »

ION to reprocess CROP seismic data offshore Italy

ION Geophysical has commenced reprocessing approximately 5,000 km of existing 2D Crosta Profonda (CROP) data in a geologically complex region offshore Italy extending from west of Sardinia through the Sicilian Channel and into southern Italian waters. More »

ERGIL designs, manufactures and fabricates storage tanks for Iraq’s largest oil field

ERGIL, a global expert in engineering, construction and manufacturing for storage tanks and equipment conducted a comprehensive engineering, design, material supply and fabrication project. More »

European big oil opens schism on climate policy with U.S. rivals

The heads of Europe’s largest oil and gas companies joined together for the first time to call for governments to agree on carbon pricing at a UN climate summit, opening a schism with their American rivals. More »

Pioneer divests Eagle Ford shale midstream business to Enterprise

Pioneer Natural Resources Company announced that the Company and Reliance Holding USA Inc. have entered into a purchase and sale agreement to sell their Eagle Ford Shale Midstream business for $2.15 billion. More »

Wealth fund ban betrays Norway’s fossil fuel goals

Norway’s $890 billion sovereign wealth fund, built on more than four decades of extracting crude from the North Sea, was ordered by lawmakers to limit holdings of companies that produce or burn coal. More »

TAG Oil appoints new CEO to lead next phase of corporate growth

International oil and gas operator, TAG Oil Ltd. is pleased to announce the appointment of Toby Pierce as CEO and a director of TAG Oil, effective immediately. More »

Canadian law on disclosing mining payments abroad takes effect

A Canadian law requiring mining and energy companies to publicize payments made in foreign countries is now in force, Natural Resources Minister Greg Rickford says. More »

CGG GeoSoftware releases major new technology

CGG announced that its GeoSoftware Business Line is launching major releases across its full product portfolio. More »

Pioneer Natural Resources announces sale of Eagle Ford Shale Midstream business for $2.15 billion

Pioneer Natural Resources Company announced that the Company and Reliance Holding USA Inc. have entered into a purchase and sale agreement with an affiliate of Enterprise Products Partners L.P. to sell their Eagle Ford Shale Midstream business for $2.15 billion, subject to regulatory approvals and normal closing adjustments. More »

Aqualis Offshore enters Aberdeen

International marine and offshore engineering consultancy Aqualis Offshore bucks the oil market trend to establish an office in Aberdeen, Scotland. More »

Atlas Knowledge secures INPEX contract for major Australian project

Atlas Knowledge has been awarded a contract by INPEX to provide training for production workers involved in the US$34 billion Ichthys LNG Project. More »

Europe’s top oil producers unite in push on climate policy

The heads of Europe’s largest oil and gas companies have joined together for the first time to call for governments to agree to carbon pricing at a United Nations-led summit on climate change at the end of the year. More »

Speculators temper crude-oil wagers before OPEC meets on output

Speculators retreated from both bullish and bearish wagers on crude-oil prices before OPEC ministers meet to determine their output for the next six months. More »

Iraq begins heavy crude exports after complaints about quality

Iraq, OPEC’s second-biggest oil producer, is exporting a new grade of crude after customers complained about the quality of oil from the country. More »

Pancontinental Oil and Gas, PTTEP withdraw from BG's Block L10A offshore Kenya

Pancontinental Oil and Gas and its L10A JV partner PTTEP of Thailand have issued operator BG Kenya L10A Ltd., notices of withdrawal from Block L10A in the Lamu basin offshore Kenya. More »

Oil halts advance as Saudis pump at record before OPEC meeting

Brent oil snapped a two-day advance as Saudi Arabia maintained crude output at a record in May before OPEC meets this week to discuss its production policy. More »

Canary CEO predicts shale recovery as rig count stabilizes

Dan K. Eberhart, the CEO of Canary, LLC, the largest privately held oilfield services company in the U.S., has announced a U.S. shale energy recovery and a turning point in shale's role to help stabilize world oil prices. More »