Floater retirements to reach historical high, Rystad says

Rystad Energy’s latest research indicates that 88 units within the floater market will have to be taken out between 2015 and 2017, making it the largest ever retirement cycle in the history of offshore drilling. More »

Lundin finds oil, gas with Alta appraisal wells in Barents Sea

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Lundin finds oil, gas with Alta appraisal well in Barents Sea

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Pacific Drilling draws interest as cheap deepwater target

HOUSTON -- Pacific Drilling SA, an offshore oil-rig contractor, is gaining notice as a takeover candidate. More »

Petrobras finishes investigation of FPSO explosion

Petrobras has completed an analysis of the factors that contributed to the fatal accident on board the Cidade de São Mateus FPSO in February, the company announced Friday. More »

Pacific NorthWest LNG gives conditional green light for BC project

Pacific NorthWest LNG (PNW LNG) announced Thursday that the required technical and commercial components of the project have been satisfied. More »

Aqualis Offshore signs contract with ONGC

Aqualis Offshore, part of Aqualis ASA, has been reappointed by United India Insurance Company to provide marine warranty services to the Oil and Natural Gas Corporation Limited (ONGC) offshore India. More »

Cubility signs multi-million dollar Johan Sverdrup deal

Cubility AS has announced a multi-million dollar deal to provide the MudCube solution to Norwegian operator, Statoil for installation on Johan Sverdrup field. More »

Iran seeks $100 billion for gas as world fixates on nation’s oil

Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions. More »

Chevron completes its largest seismic survey in Aussie oil hunt

Chevron is studying data from its largest-ever seismic survey to decide where to drill for oil in an untapped frontier off southern Australia. More »

Lundin completes drilling of Alta appraisal wells, encounters oil and gas

Lundin Petroleum's wholly owned subsidiary Lundin Norway has successfully completed the drilling of appraisal well 7220/11-2 and sidetrack 7220/11-2 A in the western part of the Alta discovery in PL609, in the Barents Sea, offshore Norway. More »

Aker Solutions to cut jobs in Norway

Aker Solutions has notified employees at its subsea services facility in Ågotnes, Norway, that it has become necessary to adjust the plant’s workforce capacity because of a decline in activity in the Norwegian market. More »

Vallourec celebrates 50 years of VAM

Vallourec is celebrating 50 years of its VAM premium connections. More »

Hess sells half of Bakken processing unit for $2.68 billion

Hess Corp., the most active oil driller in North Dakota’s Bakken last year, agreed to sell a 50% stake in its processing and pipeline unit in the region to private equity firm Global Infrastructure Partners for $2.675 billion in cash. More »

Nigeria power plans hinge on overcoming gas pipeline attacks

For Nigeria’s state-owned energy company, supplying gas to power plants around the country depends on fixing pipelines quicker than they get ruptured. More »

Statoil awards Mariner production chemicals contract to Baker Hughes

Statoil (U.K.) Limited has awarded the contract for production chemicals and services for Mariner field to Baker Hughes Limited in the UK. More »

Two-thirds of North Sea operators canned projects due to oil slump, survey finds

Two-thirds of North Sea oil and gas industry operators (67%) have been forced to cancel projects because of the recent fall in oil price, according to an industry report published Thursday. More »

Foster Creek oil sands returns to operations after forest fire, Cenovus says

Cenovus Energy has returned to normal operations at its Foster Creek oil sands project in northern Alberta after a forest fire on the Cold Lake Air Weapons Range (CLAWR) led to the precautionary shutdown of the operation on May 23 for 11 full days. More »

Delta SubSea, Zerlux collaborate on laser-based hydrate remediation tech

Delta SubSea (DSS) has signed a memorandum of understanding with Zerlux Hungary Kft. to intensify collaboration on Laser Based Hydrate Remediation Technology. More »

Technip bags Chevron subsea contract in Gulf of Mexico

Technip has been awarded a lump-sum project for the decommissioning of the brownfield development and installation of new subsea equipment supporting a floating production system, located in Mississippi Canyon in the Gulf of Mexico, in a water depth of approximately 2,000 m, by Chevron North America Exploration and Production, a division of Chevron U.S. Inc. More »

How Apache CEO is beating the crash, OPEC and a spendthrift past

Apache Corp. CEO John Christmann didn’t just get a new job when he took charge of one of the world’s biggest shale producers in the dark days of the oil market crash in January, he signed on to a corporate makeover. More »

Spectrum kicks off 2D survey offshore Mexico

Spectrum announced Thursday that their vessel has arrived in Mexico and started the acquisition of their Gulf of Mexico 2D campaign, in collaboration with Schlumberger. More »

Petrofac awarded engineering and procurement contract in Oman

Petrofac has been awarded an engineering and procurement contract by Petroleum Development Oman (PDO) to provide services for its Yibal Khuff project, a field located approximately 350 km southwest of Muscat in the Sultanate of Oman. More »

Cheniere planning two new LNG project developments

Cheniere Energy announced two significant LNG project developments Wednesday that, if completed, are projected to add up to approximately 19 mtpa of incremental LNG production capacity and would bring Cheniere's aggregate nominal LNG production capacity to approximately 60 mtpa by 2025. More »

Hackers’ favorite target: Big oil and that deadly equipment

Hackers have made the energy industry a favorite target. More »

Pemex reports largest oil find in 5 years in Gulf of Mexico

Petroleos Mexicanos, the world’s ninth-largest oil producer, announced its biggest discovery in five years as the state-owned company seeks to reverse its decade-long decline in production. More »

Oil falls as IEA says price-rally under threat amid OPEC boost

Oil fell after the International Energy Agency said this year’s price rally is under threat as OPEC’s biggest members pump record amounts of crude. More »

Delta SubSea, Zerlux collaborate on Laser Based Hydrate Remediation Technology

Delta SubSea (DSS) has signed a memorandum of understanding with Zerlux Hungary Kft. to intensify collaboration on Laser Based Hydrate Remediation Technology. More »

Trelleborg launches Buoyancy repair service in Africa

Trelleborg’s offshore operation has formalized its Drill Riser Buoyancy Modules (DRBM) repair offering in Africa, following its collaboration with flotation repair provider, ProFloat. More »

Caterpillar supplies Propell Oilfield Equipment with all Cat components

Caterpillar Oil and Gas has outfitted a well stimulation trailer for Propell Oilfield Equipment with all Cat components for the first time in its noted history. More »

Technip bags subsea decommissioning and installation contract in GoM from Chevron

Technip has been awarded a lump sum project for the decommissioning of the brownfield development and installation of new subsea equipment supporting a floating production system located in Mississippi Canyon, Gulf of Mexico in a water depth of approximately 2,000 m by Chevron North America Exploration and Production, a division of Chevron U.S. Inc. More »

Chevron hunts for answers on why Big Foot startup stumbled

An equipment failure that’s delayed Chevron’s $5.1 billion Big Foot deepwater oil project will reduce the company’s production by less than 25,000 bpd in 2017, the company said. More »

How an oil CEO is beating the crash, OPEC and a spendthrift past

Apache Corp. CEO John Christmann didn’t just get a new job when he took charge of one of the world’s biggest shale producers in the dark days of the oil market crash in January, he signed on to a corporate makeover. More »

Chevron seeks answers on why Big Foot stumbled before start

An equipment failure that’s delayed Chevron Corp.’s $5.1 billion Big Foot deepwater oil project will reduce the company’s production target by less than 25,000 bopd in 2017, the company said. More »

Suncor spuds Niobe exploration well, Noreco reports

The Norwegian Energy Company (Noreco) has announced that the drilling of the Niobe exploration well, in UK license P1889, has started. More »

Northern Petroleum gains environmental approvals from Italian government

Northern Petroleum's environmental impact assessment (EIA) for the acquisition of 3D seismic data across the Giove undeveloped oil discovery and the Cygnus exploration prospect in the southern Adriatic has been approved by the Italian regulatory authorities. More »

Chinese NOCs face weaker gas demand, oversupply: Wood Mac

Chinese national oil companies (NOCs) are assessing how best to optimize their diverse supply portfolios as gas demand disappoints, leading to an oversupplied market with weaker prices. More »

Steel jacket installed for Ivar Aasen platform, Det norske says

The steel jacket for the Ivar Aasen platform has been successfully installed and is now ready to be completed with the platform deck, which is under production at the SMOE yard in Singapore, Norway’s Det norske announced Wednesday. More »

NorSea Group wins decommissioning contract for North Sea fields

NorSea Group (UK) Limited has won northeast Scotland’s first major “small piece” decommissioning contract. More »

Swire Oilfield Services names new CFO

Swire Oilfield Services, the world’s largest supplier of offshore cargo carrying units and a leading supplier of cargo carrying solutions, modular systems, fluid management and offshore aviation services, has appointed Roy Shearer as the company’s new CFO. More »

Saudi Arabia keeps pumping at three-decade high as shale buckles

More »

Lukoil first-quarter profit slides 60% following crude drop

OAO Lukoil, Russia’s largest non-state oil producer, said first-quarter profit dropped 60% after crude prices slumped. More »

Suncor Energy spuds Niobe exploration well: Noreco

The Norwegian Energy Company (Noreco) has announced that drilling of the Niobe exploration well in UK license P1889, in the North Sea, has started. More »

InterOil resumes drilling at Wahoo in Papua New Guinea

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U.S. ousts Russia as world’s top oil, gas producer in BP report

The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields. More »

Lundin to drill appraisal well in Norwegian North Sea

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for well 16/1-23 S, in the Norwegian North Sea. More »

Northern Petroleum's EIA gains approval for 3D seismic of Giove, Cygnus off Italy

Northern Petroleum's environmental impact assessment (EIA) for the acquisition of 3D seismic data across the Giove undeveloped oil discovery and the Cygnus exploration prospect in the southern Adriatic has been approved by the Italian regulatory authorities. More »

U.S. oil production to peak at 43-year high before trailing off

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Ukraine seeks new Russia gas deal to avoid disruption to EU supply

Ukraine needs to negotiate a new natural-gas deal with Russia just as the conflict between the two countries risks escalating again. More »

Canada energy group cuts oil output forecast as outlays drop

The Canadian Association of Petroleum Producers (CAPP) cut its 2030 oil production forecast by 17% as capital expenditures slipped after crude prices tumbled. More »

Murkowski report makes case to end U.S. oil export ban

U.S. Sen. Lisa Murkowski (R – Alaska) has advanced her efforts to end the current prohibition on most U.S. crude oil exports in a report entitled Rendering Vital Assistance: Allowing Oil Shipments to U.S. Allies. More »

TimkenSteel starts construction of $40-million Ohio facility

TimkenSteel has started construction on an advanced quench-and-temper facility in Northeast Ohio that will produce more value-added steel for demanding applications, the company announced Tuesday. More »

Lewek Constellation sets industry pipelay record in deepwater GoM

EMAS AMC, the subsea division of EMAS, has announced that its flagship subsea construction vessel, Lewek Constellation, has established an industry record for pipelay in the U.S. Gulf of Mexico (GoM). More »

Bechtel to quadruple Queensland LNG production this year

Bechtel is on track to complete the construction of an additional three LNG production trains on Curtis Island by the end of 2015, quadrupling Queensland’s LNG production. More »

Installation of Åsgard subsea gas compression modules underway, Statoil says

The installation of the modules that collectively constitute Åsgard field's subsea gas compression system has commenced, Statoil announced Tuesday. More »

Great Western Oil and Gas expands presence in Wattenberg field

Great Western Petroleum, a subsidiary of Great Western Oil and Gas Company, an affiliate of The Broe Group, with active operations in the Denver-Julesburg basin in Colorado, has purchased approximately 6,000 acres and eight producing wells in Wattenberg field. More »

Statoil reports third gas discovery in Aasta Hansteen area

Statoil and its partners in PL602 have made a new gas discovery in the Gymir prospect. The find represents the third discovery in three months in the Aasta Hansteen area. More »

Maersk Training signs global training agreement with Seadrill

Maersk Training has entered into an agreement with Seadrill, one of the largest drilling companies in the world. More »

Repsol signs up to European oil group’s stance on climate change

Repsol SA joined its European peers in calling for governments to agree on carbon pricing at a United Nations climate summit later this year, expanding the group of energy companies seeking a voice at the meeting. More »

Oil Rises as shale drillers seen succumbing to OPEC onslaught

Oil gained for the second time in three days amid growing signs U.S. shale oil producers are succumbing to the Organization of Petroleum Exporting Countries’ quest to defend its share of the global crude market. More »

UK oil executive starts $5 billion private-equity group

Sam Laidlaw, former Centrica Plc Chief, and private equity’s Carlyle Group and CVC Capital Partners plan $5 billion of oil and gas investments to benefit from asset sales by industry giants in the wake of slumping crude prices. More »

Suretank appoints William Wilson as sales manager for Norway

Suretank, provider of engineered solutions to the offshore oil and gas industry, has appointed William Wilson as sales manager for Norway. More »

EMAS AMC’s Lewek Constellation sets industry pipelay record during sea trials in the U.S. GoM

EMAS AMC, the subsea division of EMAS has announced that its flagship subsea construction vessel, Lewek Constellation, has established an industry record for pipelay in the U.S. Gulf of Mexico (GoM). More »

AGSL to provide its Asset Guardian software to McDermott's pipelay vessels

Asset Guardian Solutions Ltd. (AGSL) has received a contract from McDermott Asia Pacific to provide its Asset Guardian software management toolset to the company. More »

Paradigm enhances user productivity with the release of Paradigm 15

Paradigm has released Paradigm 15, the latest extension of its comprehensive solution suite, aimed at enhancing user productivity. More »

Compact Compression launches new line of Hydraulic Casing Gas compressors

Compact Compression Inc. is announcing the commercial roll out of the Hydraulic Casing Gas (HCG) line of Solution Gas compressors. More »

Dana Gas kicks off Egyptian drilling campaign

Dana Gas has commenced drilling the Balsam-2 development well in the Balsam Development lease, onshore the Nile delta, the company announced Sunday. More »

America’s shale oil boom grinding to halt as OPEC stands pat

The shale oil boom that turned the U.S. into the world’s largest fuel exporter and brought $3 gasoline back to America’s pumps is grinding to a halt. More »

Mitra Energy commences 3D seismic acquisition offshore Vietnam

Mitra Energy, through its subsidiary operating company Mitra Energy (Vietnam Phu Khanh), commenced 3D seismic survey acquisition operations in the Block 127 PSC area, offshore Vietnam. More »

Rockwater appoints Holli Ladhani President and CEO

Rockwater Energy Solutions, Inc., a water management and chemical technologies solutions provider to the oilfield industry, announced today that Holli Ladhani, former EVP and CFO, and most recently EVP of Rockwater’s Chemical Technologies segment, has been appointed President and CEO of Rockwater, as well as a member of the Board of Directors. More »

UKOOG, GMB reach landmark agreement on shale gas

UKOOG—the representative body for the UK onshore oil and gas industry—and the GMB trade union have announced the agreement of a joint charter on shale gas, focusing on safety, skills and supply chain development. More »

Statoil awards contract for Johan Sverdrup utility, living quarters

The K2JV joint venture (Kvaerner and KBR) and Apply Leirvik have signed a contract for an EPC (Engineering, Procurement and Construction) delivery of the Johan Sverdrup Accommodation module. The value of the contract is estimated at around $250 million (NOK 2 billion), this is its largest contract ever. More »

Governments under pressure to adjust upstream fiscal terms in response to oil price drop

In a new two-part study, Wood Mackenzie explores the implications of the current low oil price for upstream fiscal terms. Governments dependent on oil taxation income are wrestling with lower oil revenues for public spending and pressure from oil and gas companies for more lenient terms. More »

PetroQuest Energy sells Arkoma assets for $280 million

PetroQuest Energy, Inc. has announced the closing of the sale of the majority of its interests in the Woodford and Mississippian Lime for gross proceeds of $280 million. More »

Nigeria could boost oil output with changed funding, Seplat says

Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with energy companies, according to Seplat Petroleum Development Co. More »

Dana Gas kicks off Egptian drilling campaign

Dana Gas has commenced drilling the Balsam-2 development well in the Balsam Development lease, onshore the Nile delta, the company announced Sunday. More »

IWCF creates new role to lead technology development

The International Well Control Forum (IWCF), the independent organization that sets international well control standards, has appointed David Conroy as its first chief technical officer (CTO). More »

Tendeka invests in bespoke U.S. facility

Tendeka has bolstered its U.S. presence in a strategic move which sees the company open a global completions, manufacturing and operations facility. More »

Shell’s Chuchki Sea campaign could dictate U.S. crude supply for decades: DW Monday

Despite surging production from U.S. shale plays, the scale of long-term production remains uncertain, leading to the question of where will be the next major play? Attention is being focused on Arctic Alaska, where reserves are waiting to be exploited. More »

Iran vows more oil exports in sign OPEC to keep exceeding target

More »

Apply Leirvik to build Johan Sverdrup Accomodation module

The K2JV joint venture (Kvaerner and KBR) and Apply Leirvik have signed a contract for an EPC (Engineering, Procurement and Construction) delivery of the Johan Sverdrup Accommodation module. The value of the contract is estimated at around $250 million (NOK 2 billion), this is its largest contract ever. More »

Delmar Systems creates new RandD team

Delmar Systems has created a new RandD team dedicated to developing innovative mooring and subsea technology. More »

PetroQuest Energy sells Arkoma assets for $280 million; provides borrowing base, operations and production updates

PetroQuest Energy, Inc. has announced the closing of the sale of the majority of its interests in the Woodford and Mississippian Lime for gross proceeds of $280 million. More »

Saudi Arabia isn’t trying to curb U.S. oil firms, Petraeus says

Saudi Arabia is trying to maintain its share of the global oil market rather than use its power in OPEC to curb U.S. producers, according to David Petraeus, former director of the Central Intelligence Agency. More »