Cameron introduces new series of flow meters

The CamCor series meters can handle many hydrocarbon production and processing applications effectively, but are especially suited for monitoring separator outlets near wellheads, crude oil custody transfer operations, in plants and pipelines delivering refined products and specialty gases, low-flow applications, and high viscosity fluids, such as crude oil and adhesives. More »

Alberta pipelines set back by oil rout

TransCanada Corp. is slowing work on two pipelines in Alberta because of reduced demand tied to lower crude prices and setbacks to its major oil export projects. More »

Enbridge profit beats estimates on rising shipments

Enbridge Inc., Canada’s largest pipeline company, posted a second-quarter profit that exceeded expectations after revenue from oil, petroleum liquids and natural gas distribution rose. More »

$700 million invested in Ghana offshore gas project

The World Bank approved $700 million in investment guarantees for an offshore gas project in Ghana that will help the country address electricity shortages. More »

Saudi Aramco testing C02 to get more oil from giant Ghawar field

Saudi Arabian Oil Co. started injecting carbon dioxide to try and boost extraction rates from the world’s biggest oil field as the company steps up plans to recover more crude from its deposits. More »

TransCanada quarterly profit rises on power and pipe volumes

TransCanada Corp., which divides its business between pipelines and power plants, reported higher second-quarter profit as the company transported more fuel and produced more electricity from a nuclear plant in Ontario. More »

Dark times ahead as oil slump lingers

Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years. More »

Chevron profit plummets after writedown of oil asset values

Chevron Corp. posted its lowest profit in more than 12 years after an energy market rout prompted the company to write down the value of oil and gas fields by almost $2 billion. More »

Total assumes operatorship of PRL 15

InterOil Corp. and Total EandP PNG Limited have agreed that Total will become operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea from August 1, 2015. More »

Exxon profit lowest since 2009 as cost cuts lag oil’s drop

Exxon Mobil Corp. posted its worst quarterly performance in six years as a worldwide glut of oil collapsed prices faster than explorers trimmed costs. More »

Parkmead wins three new UK oil and gas licenses

Parkmead has been provisionally awarded three new licenses covering three offshore blocks in the UK 28th Licensing Round. More »

CGG cuts spending after quarterly loss narrows on crude oil drop

CGG SA’s second-quarter loss narrowed and the French oilfield seismic surveyor will make further spending reductions as exploration companies cut their own investments and delay projects amid falling crude prices. More »

BG Group second-quarter profit declines 65% after oil price drop

BG Group, which agreed to be acquired by Royal Dutch Shell for more than $70 billion in April, reported a 65% drop in second-quarter profit following a slump in oil prices. More »

Shell Arctic support vessel turned back by Greenpeace activists

Greenpeace USA activists suspended from the St. John’s Bridge in Portland, Oregon, for more than 30 hours have prevented Shell’s Arctic drilling support vessel, the Fennica, from leaving Portland. More »

First deviated Pierre wellbore completed in Colorado

Austin Exploration advises that the drilling of the company's deviated exploration well has encountered natural gas in the Pierre formation at its flagship Pathfinder project in Colorado. More »

Exploration program to commence on Montana prospect

Black Stallion Oil and Gas, Inc. confirms that it will start to execute a detailed exploration program on the 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway. More »

Exxon, Rosneft file joint bids for Mozambique license round

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Inpex Corp. to drill wildcat offshore Japan

Inpex has been commissioned by the Agency of Natural Resources and Energy of Japan’s Ministry of Economy, Trade and Industry to drill one exploratory well for the agency’s Heisei 26~28 Domestic Offshore Drilling Program. More »

Khaled Kacem appointed president of BG Egypt

BG Egypt has announced the appointment of Khaled Kacem as the company’s new president. More »

Subsea 7 awarded BP contract offshore Egypt

Subsea 7 has announced the award of a contract with a value of about $500 million by BP, and partner DEA, for the development of the Taurus and Libra subsea fields offshore Alexandria, Egypt. More »

Technip swings to loss as oil industry downturn lasts

Technip SA swung to a loss in the second quarter after Europe’s biggest oil-services provider took a writedown amid an industry downturn it expects to last for longer than anticipated. More »

Wood Group awarded FEED contract from Woodside

Wood Group has secured a new contract to carry out front-end engineering and design (FEED) for the Woodside operated proposed Browse Floating Liquefied Natural Gas (FLNG) Development, offshore Western Australia. More »

$40 oil may force Russia to increase rates, Bloomberg survey shows

If oil hits $40, Russia is in trouble. More »

Shell plans to cut 6,500 jobs as prolonged downturn looms

Royal Dutch Shell Plc said it’s preparing for a “prolonged downturn” by cutting thousands of jobs and slashing billions of dollars in investments over the next two years. The shares gained the most in three weeks. More »

Repsol profit declines 20% as crude slump counters refining

Repsol SA, Spain’s largest oil company, reported a 20% drop in second-quarter earnings as lower crude prices outweighed higher refining margins and led to a loss at its upstream operations. More »

Eni second-quarter profit drops 84% as Saipem reports loss

Eni SpA said second-quarter profit dropped 84% as its oil-and-gas contractor unit Saipem booked $1 billion in writedowns earlier this week after a plunge in crude prices. More »

Crude oil exports would benefit Great Lakes Region, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska has furthered her efforts to end the current ban on U.S. crude oil exports by releasing a report on the potential benefits to the Great Lakes region if the United States allowed domestic crude oil exports. More »

Gas awakening from U.S. shale slumber as LNG shipments near

After years of languishing in a shale-induced coma, the U.S. natural gas market is waking up. More »

Boehner joins chorus calling for end of U.S. oil export limits

House Speaker John Boehner endorsed ending a ban on most U.S. oil exports, giving his support to the lobbying by energy producers to end limits imposed four decades ago. More »

Suncor deepens spending cuts for 2015 as oil price languishes

Suncor Energy Inc., Canada’s largest oil producer, cut its spending plan for 2015 for a second time and eliminated some non-essential projects as part of cost-reduction efforts. More »

API urges House, Senate action on U.S. crude exports

The American Petroleum Institute (API) applauded legislative efforts now underway to lift outdated trade restrictions on U.S. oil during a conference call with reporters on Wednesday. More »

Halliburton introduces new refracturing service

Halliburton announced today the launch of ACTIVATE Refracturing Service, a collaborative workflow that leverages subsurface insight, expertise and breakthrough diversion technology to recover bypassed reserves from unconventional wells more predictably and repeatedly. More »

Hess has Q2 loss as Bakken helps lift oil output

Hess Corp., which sold off fueling stations and refineries to focus on production, reported its second consecutive quarterly loss as higher oil output failed to compensate for lower prices. More »

Sparrows Group breaks into Malaysian market through Eftech partnership

Sparrows Group has expanded into the Malaysian market after forming a strategic partnership with a local service provider in the region, Efficient Technology Sdn Bhd (Eftech), as part of the company’s plans to treble business in Asia Pacific over the next five years. More »

OFS Portal elects Bhushan Ivaturi of GE Oil and Gas to board

OFS Portal, eCommerce thought leaders and standards advocates in the upstream oil and gas industry, has announced that Bhushan Ivaturi, CIO of GE Oil and Gas Downstream and Technology Solutions has been elected to its Board of Directors replacing Jorge Frausto also from GE Oil and Gas. More »

Anadarko finds gas in ultra-deep waters offshore Colombia

Anadarko Petroleum's Kronos-1 well has proved the presence of hydrocarbons in the ultra-deep waters of the Colombian south Caribbean area, Ecopetrol, a partner in the well, said. More »

Oil industry starts fresh round of cost cuts as oil slump persists

BP Plc and Chevron Corp. fired the opening salvo for a further round of cost cuts by major oil companies grappling with the prolonged collapse in crude prices. More »

Total sells minority interests in West of Shetland fields

Total is to sell 20% of its interests in Laggan, Tormore, Edradour and Glenlivet fields, in the West of Shetland area, to SSE EandP UK Limited for around $876 million (£565 million). More »

Total profit beats estimates as production, refining advance

Total SA’s second-quarter profit almost matched year-earlier results as higher margins at Europe’s biggest refining business helped the company shrug off a 50% slump in crude prices. More »

How pipelines saved America’s biggest oil basin from bust

To understand why U.S. oil production is so resilient, it helps to consider the maze of pipelines running out of Midland, Texas. More »

How pipelines saved America’s biggest oil basin from shale bust

To understand why U.S. oil production is so resilient, it helps to consider the maze of pipelines running out of Midland, Texas. More »

OFS Portal elects Bhushan Ivaturi of GE Oil and Gas to its Board of Directors

OFS Portal, eCommerce thought leaders and standards advocates in the upstream oil and gas industry, has announced that Bhushan Ivaturi, CIO of GE Oil and Gas Downstream and Technology Solutions has been elected to its Board of Directors replacing Jorge Frausto also from GE Oil and Gas. More »

Lonestar announces Joint Development Agreement with IOG Capital

Lonestar Resources, Ltd. has announced the closing of a $100 million Joint Development Agreement (JDA) with IOG Capital. More »

WellAware launches Chemical Management Solutions to reduce oilfield operating costs and optimize production

WellAware has launched the WellAware Chemical Management and WellAware Chemical Optimization products. Designed for EandP and chemical service companies, the new products reduce operating costs, minimize pump and well downtime, and optimize production. More »

Ecopetrol discovers hydrocarbon in Colombian Caribbean ultra-deepwater

Ecopetrol has informed that at a depth of 3720 m, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. More »

Statoil’s Reitan sets sights on U.S. shale oil cost cutting

Torgrim Reitan, who’s about to take charge of Statoil's U.S. business after serving as CFO since 2011, has one priority: improve profitability by cutting costs. More »

Billionaire Ambani said to weigh sale of U.S. shale gas holdings

Indian billionaire Mukesh Ambani’s Reliance Industries is weighing a sale of its U.S. shale gas investments, people with knowledge of the matter said. More »

National Oilwell Varco achieves positive results despite downturn

NOV reported that for its second quarter, it earned net income of $289 million, compared to first quarter net income of $310 million. More »

U.S. could be energy superpower with repeal of oil export ban, Senate committee hears

U.S. Sen. Lisa Murkowski (R – Alaska) testified before the Senate Banking Committee Tuesday on the benefits of lifting the ban on domestic crude oil exports. More »

ConocoPhillips extends Mærsk Innovator contract

ConocoPhillips Norway has awarded Maersk Drilling a contract extension for the Mærsk Innovator for work on Eldfisk field, part of the greater Ekofisk area, offshore Norway. More »

Technip awarded EPCIC contract for Petronas FLNG1

Technip has been awarded an engineering, procurement, construction, installation and commissioning contract by Petronas Carigali for the tie-in of the PFLNG1 facility to the KAKG-A platform in Kanowit field. More »

Dolphin starts East Campeche multi-client project in Mexico

Dolphin Geophysical has commenced the East Campeche 2D long offset multi-client survey in Mexico, utilizing the M/V Artemis Arctic. More »

Vermilion Energy farms into North German basin licenses

Vermilion Energy has entered into a farm-in agreement with Mobil Erdgas-Erd l GmbH (MEEG) and BEB Erdgas und Erd l GmbH and Co.KG (BEB). More »

UK names final winners from 28th seaward licensing round

The Oil and Gas Authority—the UK oil and gas regulator—announced the remaining winners from the 28th Offshore Licensing Round on Monday. More »

Dolphin commences East Campeche 2D multi-client project in Mexico

Dolphin Geophysical has commenced the East Campeche 2D long offset Multi-Client survey in Mexico, utilizing the M/V Artemis Arctic. More »

Technip awarded brownfield, subsea tie-back for Petronas FLNG1

Technip has been awarded an engineering, procurement, construction, installation and commissioning contract by Petronas Carigali for the tie-in of the PFLNG1 facility to the KAKG-A platform in Kanowit field. More »

FERC approves Excelerate Energy's Puerto Rico FLNG project

The U.S. Federal Energy Regulatory Commission (FERC) has granted authorization to Excelerate Energy, in cooperation with the Puerto Rico Electric Power Authority (PREPA), to site, construct, and operate the proposed Aguirre Offshore GasPort project. More »

Husky assessing West White Rose development options

Husky Energy continues to assess potential development options for the West White Rose extension in the Jeanne d'Arc basin, the company said Monday. More »

BP has worst profit in 10 years on Libya write-off, trading

BP Plc reported the lowest quarterly profit in at least 10 years after a boom in trading faded and the conflict in Libya forced almost $600 million of writedowns. More »

Cnooc oil-sands spill worsens outlook for Canada pipeline plans

It’s becoming increasingly difficult to get oil-sands pipeline projects off the ground, and Alberta’s worst spill since 1980 will probably make it tougher. More »

Unsated by crude glut, Asian oil buyers size up Iran’s barrels

Asian oil buyers, already sucking in barrels from as far away as Alaska and Mexico, are anticipating more bargains when Iran finally returns to world markets. More »

Statoil second-quarter profit beats estimates as output rises

Statoil, Norway’s biggest oil and gas producer, said adjusted earnings after tax fell 27% in the second-quarter following a plunge in crude prices. More »

Iraq southern oil exports at record amid market share battle

Iraqi’s oil exports from the south climbed to a record this month at the same time the self-ruled Kurds in the north are shipping crude independently, adding to a global supply glut as producers vie for market share. More »

Libya crude output drops as conflict cuts power at oil fields

Libya’s crude production dropped below 400,000 bpd as the conflict in the divided North African country cut electricity supply at oil fields, according to the state-run National Oil Corp. More »

Natural gas gains as heat sweeping eastern U.S. boost fuel use

Natural gas futures rose after two days of declines on speculation that hotter weather in the eastern half of the U.S. will boost demand for the power plant fuel. More »

Borets introduces PMM-PCP technology to North America

Borets has conducted a North American field trial of its PMM-PCP system, the first permanent magnet motor (PMM) running at a slow speed without a gear reducer to drive a progressing cavity pump. More »

China court allows NGO’s oil spill lawsuit amid pollution fight

A Chinese court allowed a lawsuit by a domestic non-governmental organization against Cnooc Ltd. and ConocoPhillips over the Bohai Bay oil spill in 2011, in what may be one of the first tests for the government’s new environmental-protection laws. More »

Report highlights importance of Strategic Petroleum Reserve

U.S. Sen. Lisa Murkowski (R – Alaska) has reiterated her opposition to selling off 101 MMbbl of oil from the nation’s Strategic Petroleum Reserve (SPR) to pay for unrelated legislative proposals with a new report highlighting the stockpile’s importance to the nation's energy security. More »

Enterprise completes $1.5-billion Gulf of Mexico sale

Enterprise Products Partners L.P. has closed on the sale of its offshore Gulf of Mexico pipelines and services business to Genesis Energy L.P. for approximately $1.5 billion in cash. More »

Harkand achieves two survey firsts in Mexico

Harkand has carried out the first ever free inertial metrology in Mexico’s waters and at a new depth for this approach in the region. More »

The evolution of subsea EPC: DW Monday

The subsea sector is highly consolidated with just five players servicing the $12 billion annual requirements of the global EandP community. More »

Shell-BG merger receives Brazilian antitrust clearance

Royal Dutch Shell’s acquisition of BG Group has received unconditional merger clearance from the Brazilian competition authority (CADE), satisfying the first of the pre-conditions to the combination. Other pre-conditions include merger clearances in Australia, China and Europe. More »

Oil majors delay $200 billion of spending, Wood Mackenzie says

Global oil and natural-gas producers have delayed $200 billion of investment in more than 45 projects following the slump in crude prices, according to Wood Mackenzie Ltd. More »

Goodrich Petroleum sells Eagle Ford assets for $118 million

Goodrich Petroleum Corp. has entered into a definitive agreement to sell its proved reserves and associated leasehold in the Eagle Ford shale in LaSalle and Frio Counties, Texas, for $118 million. More »

Seabed Geosolutions secures two new contracts

Seabed Geosolutions will soon mobilise for the variation order that was signed Monday by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey. More »

Oil slides in bear market as U.S. drillers increase rig count

Oil extended losses in a bear market as a rebound in U.S. drilling signaled that producers can withstand lower prices and may keep adding supplies to a global glut. More »

Oil bulls flee at fastest pace in three years as glut expands

Speculators’ conviction that oil will rally weakened at the fastest pace in three years, just before futures tumbled into a bear market. More »

Oil extends drop in bear market as U.S. drillers increase rigs

Oil extended its decline in a bear market as a rebound in U.S. drilling added to signs producers will keep pumping amid a global glut. More »

Panoro Energy spuds Aje-5 well offshore Nigeria

Panoro Energy has commenced drilling on the Aje-5 production well on the OML 113 license, offshore Nigeria. More »

Saudi Arabia’s Sabic considering shale gas investments in U.S.

Saudi Basic Industries Corp., the world’s second-biggest chemicals manufacturer, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting Chief Executive Officer Yousef al Benyan. More »