OEG Offshore U.S. arm merges with Gulf coast equipment provider

OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has announced the merger of its U.S. business with Louisiana-based oilfield equipment provider Cameron Rental and Tank Inc. (CRT). More »

Halliburton believers stand to win big betting on Baker Hughes deal

Traders willing to bet the biggest oil-services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit. More »

OEG Offshore merges with Gulf coast equipment provider

OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has announced the merger of its U.S. business with Louisiana-based oilfield equipment provider Cameron Rental and Tank Inc. (CRT). More »

IKM Testing acquires Oceaneering’s machining, cutting business

The IKM Group announced Friday that IKM Testing has entered into a purchase agreement to acquire Oceaneering’s Norwegian onsite machining and cutting business. More »

Citigroup’s Morse says WTI under $30 needed to curb output

After tumbling to six-year lows, U.S. benchmark oil prices must fall even further before producers begin reining in production, according to Ed Morse, head of global commodity research at Citigroup Inc. More »

McDermott bags its largest Middle East contract from Saudi Aramco

McDermott International has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. More »

Chinese oil giants eschew global jobs purge amid belt tightening

China’s biggest oil companies say they’ll cut costs, but not employees. More »

For OPEC, this year’s painful oil slump will bring gains in 2016

While OPEC’s fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50/bbl, an entirely different picture could emerge next year. More »

Oil surges most in six years on faster U.S. economic growth

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted. More »

Schlumberger's $14.8-billion Cameron purchase could inspire more deals

Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. More »

EIA expects near-term decline in natural gas production in major shale regions

Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. Production from these seven shale regions reached a high in May at 45.6 Bcfd and is expected to decline to 44.9 Bcfd in September. More »

ABB names Pilon as managing director for Canada

MONTREAL, Québec -- ABB has named Nathalie Pilon as the new managing director for ABB in Canada, effective Oct. 1. Pilon replaces Daniel Assandri who led the successful expansion of Canada over the past five years. More »

Cameron purchase could inspire more deals

Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. More »

Total sells North Sea midstream assets for $905 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for around $905 million (£585 million). More »

DNV GL awards class for two self-elevating construction, accommodation units

DNV GL will be working with the Chinese-owned Tianjin Desail to develop a new liftboat design for offshore construction, accommodation and maintenance. More »

Cobalt International Energy names new CFO, executive V.P.

Cobalt International Energy has announced that Shannon (Shane) E. Young, III will join Cobalt as CFO and executive V.P. Young is currently senior V.P. and CFO for Talos Energy. More »

Maersk Oil awards integrated services contract to Amec Foster Wheeler

Amec Foster Wheeler has won a three year integrated services contract (ISC) from Maersk Oil. The value of the contract has not been announced. More »

GeoPark discovers new light oil field in Colombia

GeoPark Limited discovered a new oil field following the drilling of exploration well Chachalaca 1, located on the Llanos 34 Block in Colombia. GeoPark operates and has a 45% working interest in the block. More »

Mexico accelerated global oil slump through derivative deals

When oil collapsed to a six-year low this month, weak demand from China and extra barrels from Iran and Saudi Arabia were marked as the prime suspects. Another country, less central to global energy markets, had a big part to play: Mexico More »

China oil giants seeking to join spree of global energy deals

PetroChina Co., the country biggest oil and gas producer, signaled it’s looking to join a wave of global energy deals as crude’s collapse makes it the right time to buy and sell assets. More »

Loyd’s Register to class world’s largest heavy lift crane vessel

Loyd’s Register has won a contract to class the world’s largest heavy lift crane vessel (NSCV) for the Netherlands-based Heerema Group. More »

Statoil to drill wildcat well in North Sea

The Norwegian Petroleum Directorate has granted Statoil Petroleum a drilling permit for well 25/11-28 in PL196, located in the Norwegian sector of the North Sea. More »

UK: Total sells North Sea midstream assets for $905 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for $905 million (around £585 million), subject to the customary approvals. More »

PetroChina’s first-half profit drops 63% on oil market rout

PetroChina Co., the nation’s biggest oil and gas producer, posted a 63% decline in first-half profit as oil prices slumped, lagging analyst estimates. More »

Tap Oil inks production sharing contract for Myanmar block

Tap Oil has formalized its entry into Myanmar following the signing of the Production Sharing Contract (PSC) for the shallow water Block M-7 in the Moattama basin. More »

CGG completes delivery of Diskos database

CGG has announced today that its EandP data management solution for the seismic, well and production modules in the Diskos database, Norway’s National Data Repository, is now in production and accessible to all members of the Diskos group. More »

Oil industry needs to find half a trillion dollars to survive

At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it. More »

Global energy deals now surpass dawn of oil ‘supermajors’ era

If there was any question over whether this year’s oil crash would give rise to a new era of energy megadeals, there isn’t anymore. More »

Brent as low as $50/bbl isn’t sustainable beyond 2016, Rystad says

More »

Anadarko awaits go-ahead for Mozambique gas project

Anadarko Petroleum Corp. has clinched almost all the supply accords it needs to bring a natural-gas project in Mozambique to fruition and is awaiting state consent to export the fuel as U.S. competition gathers pace. More »

Ecuador reveals financial stress inside OPEC

Ecuador has revealed the financial stress inside OPEC created by low oil prices, becoming the first member of the group to say it’s pumping at a loss. More »

Danos wins contract for Shell’s deepwater Appomattox project

Danos has been selected by Shell Offshore Inc. to fabricate three boarding valve skid assemblies for its deepwater Appomattox project. More »

Greene’s Energy Group names Michael Hayes as V.P. and general manager of pressure testing and services

Greene’s Energy Group, a provider of integrated testing, rentals and specialty services, has named Michael “Mike” Hayes as V.P. and general manager of pressure testing and services (PTS) and the engineering group. More »

Schlumberger to acquire Cameron in $14.8-billion deal

Schlumberger and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction valued at approximately $14.8 billion. More »

Subsea UK to support industry with apprenticeships

Subsea UK has launched a new support service to bring fresh, young talent into the subsea sector by making it easier for businesses to recruit apprentices. More »

Norway authorizes equipment for improved recovery on Gullfaks

The Norwegian Petroleum Directorate (NPD) has granted the licensees of Gullfaks Sør consent for start-up and operation of a new subsea wet gas compressor and umbilical on the Gullfaks field in production licence 050. More »

Eagle Ford production remains resilient, Wood Mac says

Despite the slowdown, production growth in the Eagle Ford remains resilient as sweet spots emerge across all active sub-plays according to Wood Mackenzie's North America Key play analysis. More »

Shell spuds Portrush exploration well in Norwegian Sea

More »

Iran’s oil investments drop to almost nothing on crude slump

Iran, the world’s fifth largest crude producer, has set aside almost nothing for oil investments this year because of the drop in prices. More »

Schlumberger to acquire Cameron

Schlumberger Limited and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies. More »

Cnooc first-half profit drops 56% on plunging crude prices

Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56% decline in profit for the first half of this year. More »

Oil industry crash leaves Wall Street playing catchup

Bad news is pouring down on the U.S. oil industry so quickly that analysts can’t keep up. More »

Oil trades below $40 as China turmoil adds to oversupply concern

Oil swung between gains and losses in New York as further declines in China’s stock market fanned concern that its fuel demand may slow while global crude markets remain oversupplied More »

Transocean targets dividend payout as asset writedowns mount

Transocean Ltd., the offshore oil-rig operator that lost two-thirds of its value in the past year, plans to cancel its dividend and record 2 billion Swiss francs ($2.1 billion) in asset impairments as free-falling crude prices slash demand for drilling vessels. More »

Blame oil glut on investors who still love drilling over profits

Investors sent a surprising message to U.S. shale producers as crude fell almost 20% in August: keep calm and drill on. More »

Pakistan Petroleum reports gas, condensate discovery in Gambat South

Pakistan Petroleum Limited, operator of the Gambat South Block with a 65% working interest, has announced another gas and condensate discovery at its Kabir X-1 exploration well in Sanghar District, Sindh, Pakistan. More »

Landmark introduces industry's first, complete EandP cloud offering

Landmark, a Halliburton business line, has introduced the industry's first, complete software suite for managing EandP projects, taking advantage of cloud computing. More »

Argentina plays by its own rules with oil at $77

Oil at $77? It is in Argentina. Oil has plummeted below $39/bbl in the U.S. But despite the price bloodbath in global energy markets, it fetches nearly twice that amount in Argentina -- home to some of the most expensive crude in the world. More »

Norway’s Oil Minister says crude price at $40 can’t last

Crude at $40/bbl is unsustainable and prices will have to rise as supply drops out of the market, according to Norway’s Oil Minister. More »

Petrofac rises as order boost counters delay at North Sea fields

Petrofac Plc, a UK oil-services provider, rose the most in five weeks in London trading as an expanding order backlog countered setbacks in the North Sea. More »

Encana to sell Haynesville natural gas assets

Encana Oil and Gas (USA) Inc. has reached an agreement to sell its Haynesville natural gas assets, in northern Louisiana, to GEP Haynesville, LLC. More »

Exceed launches world’s first decommissioning collaboration tool

The world’s first online information management system for the offshore decommissioning market has been launched by well management and performance improvement specialist, Exceed. More »

Gasoline is both incredibly cheap and absurdly expensive

Filling up with gasoline in the U.S. is the cheapest it’s been in a decade and yet way too expensive. More »

Lundin to complete drilling at Edvard Grieg appraisal well

Lundin Norway, operator of PL338, is in the process of completing the drilling of appraisal well 16/1-23 S on the Edvard Grieg oil field in the central section of the North Sea. More »

Energy companies cheaper than assets after rout, oil search says

Oil and gas companies are looking more attractive to buy than individual assets following the plunge in share prices, according to Oil Search Ltd., Exxon Mobil Corp.’s partner in Papua New Guinea. More »

Out in the real world, oil market is much better than it looks

The global oil market is healthier than it looks, signaling that crude’s plunge to six-year lows has probably gone too far. More »

Seatronics secures first UK sale of 2G Robotics' ULS-200 underwater laser scanner

Seatronics, an Acteon company, has secured the first UK sale of 2G Robotics' ULS-200 underwater laser scanner. More »

Tenaris to supply products and services for Maersk’s Culzean project

Tenaris has been awarded a contract to supply casing and related services for Maersk Oil North Sea's Culzean project. More »

Oil-stock plunge erases $17 billion as Exxon hits 5-year low

Oil and gas producers dropped to their lowest level in almost four years as collapsing markets in China heightened concern that demand will falter, aggravating a glut. More »

Hydrocarb completes well at 1,500 Mcfgd

Hydrocarb Energy Corporation disclosed Monday that its Galveston Bay State Tract 246 well #181 has been completed at a rate of 1,500,000 cfgd, through a 12/64-in. choke, from the Frio 7 formation. More »

Cobalt sells interest in Angola blocks for $1.75 billion

Sonangol and Cobalt International Energy have announced the signing of a sale and purchase agreement for Sonangol to acquire all of Cobalt’s 40% participating interest in Blocks 21/09 and 20/11 offshore Angola for $1.75 billion. More »

Litre Meter supplies flowmeters for Martin Linge field development

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. More »

Litre Meter supplies flowmeters for Martin Linge field

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. More »

Bjarte Bruheim steps down as EMGS' CEO

Bjarte Bruheim has stepped down from his role as the CEO of Electromagnetic Geoservices (EMGS) with immediate effect. He has held this position since Jan. 7. More »

TGS announces Gigante multibeam, coring and geochemical analysis project

TGS has received an authorization from Mexico's Comisión Nacional de Hidrocarburos (CNH) for the acquisition of multibeam, coring and geochemical analysis data over an area of approximately 600,000 sq km in Mexican waters. More »

First gas from Maurel and Prom’s Mnazi Bay gas field in Tanzania

Maurel and Prom has opened the first two wells of the Mnazi Bay gas field that will deliver gas to the Madimba processing center (operated by GASCO, a subsidiary of TPDC), the entry point of the gas pipeline linking Mtwara to Dar es Salaam. More »

Aptomar, Statoil sign contract for tactical collaboration and management system

Statoil has opted for Aptomar’s TCMS (tactical collaboration and management system) at the energy company’s field monitoring center at Sandsli in Bergen, Norway. More »

Iran plans ‘any cost’ oil output rise to defend market share

Iran plans to raise oil production “at any cost” to defend the country’s market share and backs calls for an emergency OPEC meeting to help shore up crude prices. More »

Oil price slump is hitting Saudi Arabia: DW Monday

Low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – $4 billion in July. More »

TGS acquires 600,000 sq km for survey offshore Mexico

TGS has received an authorization from Mexico's Comisión Nacional de Hidrocarburos (CNH) for the acquisition of multibeam, coring and geochemical analysis data over an area of approximately 600,000 sq km in Mexican waters. More »

Bjarte Bruheim quits as EMGS' CEO

Bjarte Bruheim has decided to step down as CEO of Electromagnetic Geoservices with immediate effect. More »

Bullish oil bets sink to 5-year low as futures flirt with $40

It’s pretty lonely being an oil bull these days. More »

Brent slides below $45 as Iran pledge worsens oil-supply outlook

Oil in London slid below $45/bbl for the first time since March 2009 as Iran reiterated it will boost production and U.S. drillers showed no signs of slowing. More »

Litre Meter gets 'heroic' North Sea order

Litre Meter has supplied a number of VFF flowmeters for the Martin Linge field development project in the North Sea. More »