U.S drillers drop rigs for third consecutive week

Drillers in the U.S. idled 16 rigs this week, representing the third consecutive week of decline for the Baker Hughes rig count. More »

Why Putin won't be helping OPEC cut oil production

Few things have more potential to spook the oil market than the prospect of Russia joining forces with OPEC. Speculation that such a move was afoot last month drove crude to its biggest three-day gain in 25 years. More »

BOEM proposes 40-million-acre lease sale in Gulf of Mexico

The Bureau of Ocean Energy Management (BOEM) is to offer 40 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development in sales that will include all available unleased areas in the Central and Eastern Gulf of Mexico Planning Areas. More »

Aberdeen company offers innovative approach to offshore equipment supply, decommissioning projects

Cardno’s Crossovers Limited provides a variety of equipment and services, including Drill Pipe Crossovers, to the oil and gas sector by offering innovative rental buy back and capping options to save clients thousands of dollars, in a bid to address the current downturn in the sector. More »

Trelleborg tackles high temperatures with new flowline insulation covers

Trelleborg’s offshore operation has engineered a new insulation cover that not only withstands extremely cold temperatures at subsea depths but also, with the combination of a silicone liner, the extreme temperatures of hot hydrocarbons. More »

Portrush exploration well disappoints, Faroe Petroleum says

Shell’s Portrush exploration well has come up dry, junior partner Faroe Petroleum reports. More »

GE, Statoil sign subsea exploration wellhead frame agreement

GE Oil and Gas has been awarded a four-year framework agreement to provide wellhead equipment and associated services to Statoil with the option of two, two-year extensions. More »

Statoil awards Kværner Verdal contract for Johan Sverdrup drilling platform jacket

Statoil has awarded a contract to Kværner Verdal for delivery of the steel jacket for the Johan Sverdrup drilling platform. More »

INPEX delays start, raises capacity of Ichthys LNG project

INPEX Corporation has updated the expected production start-up schedule and raised the anticipated production capacity of the Ichthys LNG project, which it is currently developing as operator alongside its project partners. More »

Oil and Gas UK CEO opens new Cameron facility in Aberdeen

Oil and Gas UK Chief Executive Deirdre Michie formally opened the new Aberdeen base for Cameron Flow Control Technology (UK) Ltd on Thursday. More »

Oil at $20 possible for Goldman as forecasts cut on glut

The global surplus of oil is even bigger than Goldman Sachs Group Inc. thought and that could drive prices as low as $20/bbl. More »

IEA sees U.S. Shale oil output shrinking in 2016 on price slump

U.S. shale oil production will drop 9% next year as a crude price below $50/bbl “slams brakes” on years of supply growth, the International Energy Agency said. More »

Survivex makes international additions to its course portfolio

As the North Sea energy sector faces its most significant downturn in decades, one Aberdeen based service company is setting its sights on bucking the trend and growing the global arm of its business. More »

Shale producers clobbered by oil rout face added Iran supply

Shale oil producers already awash in a supply glut face added crude as early as next year after an agreement to ease sanctions on Iran cleared a Senate obstacle. More »

WCS launches new drilling operations course

Well Control School (WCS), a leading provider of accredited well control training, announced the launch of its new introductory level System 21 e-learning course for drilling operations. More »

Shale drillers turn to asset sales as early swagger wanes

A renewed plunge in oil prices and the winding down of other financial lifelines is forcing shale drillers to auction off once-prized assets and settle for less in potential deals. More »

Gazprom prefers price over volume in first EU gas auctions

Gazprom PJSC sold about a third of the natural gas offered in its first-ever auction for European buyers, instead targeting higher prices amid a regional glut and plunging commodity costs. More »

Earthquakes have locals fighting gas output

A Dutch court heard arguments on Thursday that production from Europe’s largest natural gas field should be suspended because of earthquakes linked to extraction. More »

API welcomes House vote on U.S. oil exports

WASHINGTON – The American Petroleum Institute (API) has welcomed progress by House lawmakers on legislation to lift 1970s-era restrictions on U.S. crude oil exports. More »

Wintershall awards rig contract for Maria development

Wintershall, Germany’s largest internationally active oil and gas producer, has awarded the rig contract for Maria field to Odfjell Drilling. The contract, for the Deepsea Stavanger semisubmersible, is worth approximately $175 million based on 574 budgeted days. More »

Wintershall awards rig contract for Maria development to Odfjell Drilling

Wintershall, Germany’s largest internationally active oil and gas producer, has awarded the rig contract for Maria field to Odfjell Drilling. The contract, for the Deepsea Stavanger semisubmersible, is worth approximately $175 million based on 574 budgeted days. More »

Great interest in APA 2015, Norwegian Petroleum Directorate says

The Norwegian Petroleum Directorate (NPD) has announced that the application deadline for awards in predefined areas (APA) 2015 on the Norwegian continental shelf is over. The authorities had received applications from 43 companies. More »

Robert Gordon University to collaborate with Mexico on oil, gas

Robert Gordon University (RGU) and the Government of Mexico have signed a Memorandum of Understanding (MoU) under which they will collaborate in areas of strategic significance in oil and gas. More »

Liebherr installs ram luffing crane on North Sea platform for Petrogas

Liebherr's offshore crane division has completed another project with its long-term client Petrogas. More »

North Sea work brings world firsts for Swagelining

Swagelining Ltd., provider of design and installation of polymer linings for pipeline and riser systems, has completed work across eight North Sea assets over the last 12 months, including a number of world firsts for the technology. More »

Oil producers seen by Qatar as studying request for OPEC summit

OPEC members and other oil-producing nations will respond to a request by Venezuela that the supplier group meet to try to stabilize crude prices, Qatar’s Energy and Industry Minister Mohammed Al Sada said. More »

Aker Solutions names new regional president for UK, Africa

Aker Solutions has appointed David Clark as regional president for the UK and Africa. He will oversee an expansion and support operations in these key markets. More »

API launches ads promoting U.S. crude oil exports

The American Petroleum Institute (API) has launched a new series of ads highlighting the economic and national security benefits of U.S. crude oil exports. More »

Mexico cuts oil spending to nine-year low as foreign firms enter

Mexico plans to spend the least in nine years to explore for oil, relying instead on foreign companies to help reverse a decade-long decline in production. More »

Iran said to cut pricing for all October crude to Asia

Iran cut pricing for all its oil grades for sale to Asia next month, according to two people with knowledge of the decision, trimming the premium on its main Light crude over the comparable Saudi blend to the narrowest since the end of 2012. More »

Swagelining completes North Sea pipelines work; bags worlds firsts for the technology use

Swagelining Ltd., provider of design and installation of polymer linings for pipeline and riser systems, has completed work across eight North Sea assets over the last 12 months, including a number of world firsts for the technology. More »

Liebherr installs ram luffing crane on Petrogas' North Sea platform

Liebherr Offshore Crane Division has completed yet another project with its long-term client Petrogas. More »

Mexican Government to collaborate with RGU on oil and gas education

Robert Gordon University (RGU) and the Government of Mexico have signed a Memorandum of Understanding (MoU) under which they will collaborate in areas of strategic significance in oil and gas. More »

Great interest in APA 2015, says NPD

The Norwegian Petroleum Directorate (NPD) has announced that the application deadline for awards in predefined areas (APA) 2015 on the Norwegian continental shelf is over. The authorities had received applications from 43 companies. More »

DNV GL unearths new strategy for effective sand management with updated Recommended Practice

Sand production and erosion can have significant financial and safety consequences for both production and assets, estimated by experts to run into tens of billions of dollars annually. Now DNV GL has developed industry guidance to enable operators to develop a strategy for optimizing the production rate, while at the same time safely managing the sand production and thereby potential erosion damage. More »

CARBO idles proppant facility as downturn dampers demand

CARBO Ceramics announced Wednesday that it will idle its proppant manufacturing facility in Millen, Georgia, due to reduced industry activity levels. More »

Citigroup sees U.S. oil output losing 500,000 bpd

A funding squeeze threatens to cut U.S. oil output by as much as half a million barrels a day by the end of the year, with shale producers among the worst affected, Citigroup Inc. said. More »

Archer awarded contract extension for the provision of platform drilling services with Apache

Archer (UK) Limited announced that Apache has exercised the first of two options to extend its existing contract with Archer for the provision of platform drilling services for a period of one year. More »

North Sea industry anticipates £2 bn cost improvement by 2016

Oil and Gas UK’s Economic Report, published Wednesday, reveals the impact of the challenging business environment on the offshore oil and gas industry and provides the first signs that the sector’s efforts to restore international competitiveness are starting to take effect. More »

Well control training integrates psychological impacts for first time

A new level of well control training that for the first time combines simulated advanced technical and behavioural content has been successfully piloted by Seadrill and will now be rolled out globally. More »

Continental Resources cuts up to $350 million from 2015 capex

Continental Resources is to spend approximately $300 million to $350 million less than its previously approved capital budget for 2015 to better align spending with cash flow at current commodity prices. More »

Delmar Quick Release testing a success

The patent pending Delmar Quick Release (DQR) was successfully tested on a semi-submersible MODU located dockside at a shipyard in Brownsville, Texas. More »

New drill string camera with jet blasting function could slash rig time 50%

A new joint industry project (JIP) has been launched to progress camera technology that could deliver significant savings during drilling operations. More »

Low oil price accelerating decommissioning in the UKCS, Wood Mac says

A high oil price has enabled operators to extend field life and delay decommissioning time and time again on the UK Continental Shelf, however the current low oil price has brought into stark relief that this cannot continue indefinitely concludes a new analysis by Wood Mackenzie. More »

Darcy proves new sand control technology with second installation

Sand control engineering specialist Darcy is gearing up for interest in its downhole Hydraulic Screen at Offshore Europe, following a second successful installation of the new technology in the North Sea. More »

Husky starts production from second well at South White Rose extension drill center

Husky Energy has started production from a second oil well at the South White Rose extension drill center offshore Newfoundland and Labrador. More »

Continental Resources to reduce its 2015 Capex by $350 million

Continental Resources, Inc., has announced plans to spend approximately $300 to $350 million less than its previously approved capital budget for 2015 to better align spending with cash flow at current commodity prices. More »

Buffett sold Exxon, bought refiner Phillips 66 on oil fears

Billionaire Warren Buffett dumped Exxon Mobil Corp. shares held by Berkshire Hathaway Inc. and took a $4.5 billion stake in refiner Phillips 66 after souring on the outlook for oil prices, he said in television interviews. More »

Maersk Oil cuts $1 billion from investment budget as prices fall

A.P. Moeller-Maersk A/S’s oil unit cut $1 billion off its annual budget for capital expenditure after petroleum prices plunged. More »

New drill string camera with jet blasting function could slash rig time by 50%: ITF

The Industry Technology Facilitator (ITF), with Clearview Well Services of Perth, Australia and with the support of two global oil and gas operators has launched new Joint Industry Project to progress camera technology that could deliver significant savings during drilling operations. More »

Delmar Quick Release testing a success: Delmar Systems

The patent pending Delmar Quick Release (DQR) was successfully tested on a semi-submersible MODU located dockside at a shipyard in Brownsville, Texas. More »

SAL Heavy Lift completes challenging platform installation in Alaska

SAL Heavy Lift’s team of MV Svenja has successfully installed an offshore development platform within the petroleum and gas exploitation area “Kitchen Lights Unit #3” in Alaska’s Cook Inlet. More »

Oceaneering announces Shell Appomattox umbilical contract

Oceaneering International, Inc., has secured a contract from Shell Offshore to supply umbilicals for the deepwater Appomattox development located in the Mississippi Canyon area of the U.S. Gulf of Mexico. More »

Continental Resources to reduce its 2015 by $350 million

Continental Resources, Inc., has announced plans to spend approximately $300 to $350 million less than its previously approved capital budget for 2015 to better align spending with cash flow at current commodity prices. More »

Plexus Holdings launches POS-GRIP Python Subsea Wellhead

Plexus Holdings has launched the POS-GRIP Python Subsea Wellhead (Python) at the oil and gas trade show, ‘SPE Offshore Europe 2015’ in Aberdeen. More »

Well control training integrates psychological impacts for first time: IWFC

A new level of well control training that for the first time combines simulated advanced technical and behavioural content has been successfully piloted by Seadrill and will now be rolled out globally. More »

What investors need to know about Israel's natural gas market

Israel’s parliament on Monday approved a framework to regulate its natural gas industry, eight days after the discovery of a field in Egyptian waters damped expectations for regional exports. More »

Oil jumps as Chinese equity rally sparks investor optimism

Crude jumped almost 4% in less than two hours in London as a late-day surge in Shanghai stocks spurs investor optimism across global markets. More »

ARM to develop infrastructure in Oklahoma's STACK play

Asset Risk Management (ARM) announced Tuesday that ARM Midstream, a wholly owned subsidiary of ARM, is partnering with Highbridge Principal Strategies to build a cryogenic processing plant, natural gas gathering system, and crude oil gathering system in Oklahoma's STACK play. More »

New rail terminal to bolster Delaware basin’s oil industry

CIG Logistics, an oil and gas logistics provider, has opened a new rail terminal in Jal, N.M., to reduce transportation, transloading and storage costs for oil producers operating in the Delaware basin. More »

Hydraulic fracturing set to reduce greenhouse gases using waterless solution

Millennium Stimulation Services is introducing a patented process of using Energized Natural Gas (ENG) as a fluid solution for hydraulic fracturing. More »

Technip wins flexible pipe contract for Malaysian project

Technip has been awarded an engineering, procurement, installation and commissioning contract by PETRONAS Carigali Sdn Bhd (PCSB) for the D18 project. More »

GE Oil and Gas awarded subsea service agreement with Statoil

GE Oil and Gas has signed a framework agreement with Statoil Petroleum AS to provide subsea operations services for the company’s operated fields Tordis, Vigdis, Snorre and Troll. More »

Iran says Mexico to help if OPEC tries to manage oil market

Mexico is willing to work with OPEC if the group tries to stabilize crude markets amid a global supply glut and slide in prices, Iran’s Oil Minister Bijan Namdar Zanganeh said after talks with Mexico’s labor secretary. More »

Out-sourced procurement delivers considerable savings to oil companies

Craig International’s research has revealed that typically oil company buyers spend 85% of their time on managing only 15% of their spend. More »

Expro strengthens North Sea operations with $25 million in contract wins

International oilfield services company Expro has strengthened its operations in the North Sea with $25 million in contract wins secured in the UK and Norway, where it will officially open a new facility later this month. More »

Honeywell to support Lundin’s Edvard Grieg development

Honeywell Process Solutions (HPS) announced a new multi-year agreement Tuesday to provide comprehensive services and support for Lundin Norway, Norway's fastest-growing upstream oil and gas company. More »

Goodrich Petroleum closes sale of Eagle Ford acreage

Goodrich Petroleum Corporation has closed on the previously announced divestiture of the company's proved reserves and associated leasehold in the Eagle Ford shale in LaSalle and Frio Counties, Texas. More »

Jee’s span assessment expertise delivers significant savings to the oil and gas industry

TONBRIDGE, United Kingdom -- Jee Ltd., a multi-disciple subsea engineering and training firm, has completed more than a thousand specialist span assessments already this year, delivering major cost-savings by avoiding remediation work. More »

Bibby Offshore delivers on two UKCS decommissioning contracts

Bibby Offshore, a subsea services provider to the oil and gas industry, has this year delivered two multimillion dollar decommissioning contracts to the UK Continental Shelf (UKCS). More »

Indonesia said to be on course to rejoin OPEC in December

Indonesia is on track to resume full OPEC membership in December after a break of almost seven years, according to three people familiar with the matter. More »

Shell cheapest in 6 years for buyers braving takeover doubts

It’s the cheapest opportunity in six years to be a shareholder in Europe’s largest oil and gas company. More »

Out-sourced procurement delivers considerable savings to oil companies, says Craig International’s research

Craig International’s research has revealed that typically oil company buyers spend 85% of their time on managing only 15% of their spend. More »

Polarcus bags broadband 3D project in Myanmar

Polarcus Ltd. has received a Letter of Award from Shell Myanmar Energy for a 3D marine seismic project offshore Myanmar. More »

Move over Exxon, Russian drillers are oil world’s top performers

At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts. More »

Woodside Petroleum offers A$11.65 billion for Oil Search

Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, made a A$11.65 billion ($8.1 billion) share-based preliminary takeover bid for Oil Search Ltd. in a deal that would increase its exposure to Papua New Guinea. More »

Proserv Group acquires Nautronix

Proserv Group LLC has acquired Nautronix, a leader in the supply of subsea digital acoustic communication products and positioning services to the oil and gas industry. More »

Oil extends decline as Russia rules out deal with OPEC on output

LONDON (Bloomberg) -- Oil declined for a second day after another Russian official ruled out cooperation on production cuts with OPEC, adding to signs that a global oversupply will persist. More »

CNPC adds over 160 Bcm of shale gas reserves in Sichuan basin

As examined and approved by the Ministry of Land and Resources, CNPC has added 207.87 sq km of new shale gas bearing areas in well blocks of Wei-202, Ning-201 and YS108 in Sichuan basin. More »

Maria field development plan approved, Wintershall says

Wintershall and its partners, Petoro and Centrica, have received an approval by the Ministry of Petroleum and Energy for the plan for development and operation (PDO) for the Maria development, offshore Norway. More »

Halliburton facilities, business lines in Brazil first in Latin America to receive API Q2 certification

Halliburton’s two Brazilian facilities, Macaé and Rio de Janeiro, and nine of the company’s business lines located there have received the American Petroleum Institute (API) Specification Q2 Certification, an advanced industry certification standard for oil and natural gas service companies. They are the first in Latin America to receive the certification. More »

CNPC adds more than 160 Bcm of shale gas reserves in Sichuan basin

As examined and approved by the Ministry of Land and Resources, CNPC has added 207.87 sq km of new shale gas bearing areas in well blocks of Wei-202, Ning-201 and YS108 in Sichuan basin. More »

EIM Capital, American Energy Partners join forces for unconventional energy exploration in Mexico

EIM Capital and American Energy Partners have announced a new, long-term, landmark partnership to explore the vast exploration and development opportunities offered by Mexico’s abundant oil and gas energy resources. More »

Transocean announces departure of General Counsel

Transocean Ltd. has announced that Lars Sjöbring, Senior V.P. and General Counsel will be leaving the company. More »

Wintershall receives a go ahead on plan for development and operation for Maria field

Wintershall and its partners, Petoro and Centrica, have received an approval by the Ministry of Petroleum and Energy for the plan for development and operation (PDO) for the Maria development, offshore Norway. More »

Statoil brings Smørbukk South Extension project online

Statoil has commenced production from Smørbukk South Extension project, two and a half years after project sanction. More »

Keppel delivers third KFELS B Class jackup to UMW-OG a month early

Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine, has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil and Gas Corporation Berhad (UMW-OG). It was completed 32 days ahead of schedule, on budget and with a perfect safety record. More »

EIM Capital, American Energy Partners join forces to pursue unconventional energy exploration in Mexico

EIM Capital and American Energy Partners have announced a new, long-term, landmark partnership to explore the vast exploration and development opportunities offered by Mexico’s abundant oil and gas energy resources. More »

Halliburton's Brazilian facilities receive API Q2 Certification; first certification in Latin America

Halliburton’s two Brazilian facilities, Macaé and Rio de Janeiro, and nine of the company’s business lines located there have received the American Petroleum Institute (API) Specification Q2 Certification, an advanced industry certification standard for oil and natural gas service companies. They are the first in Latin America to receive the certification. More »

Aqualis Offshore establishes new office in Qatar

Aqualis Offshore, an offshore marine and engineering consultancy, has expand its international footprint by opening a new office in Doha, Qatar. More »

Canada oil sands fork over billions for 500,000 unneeded barrels

The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude. More »