EIA says east coast distillate fuel oil inventories higher than in recent years

Inventories of distillate fuel oil in the U.S. East Coast are higher now than they have been in the previous three years, reaching 59 MMbbl on Sept. 18. More »

Gulf rig supplier may be first to exit oil-slump bankruptcy

Hercules Offshore Inc. may become the first big energy-sector business to exit bankruptcy since the crude slump triggered insolvencies among oil and gas drillers and the companies that serve them. More »

Troll field marks 20 years since first oil

This week marks 20 years since the start of oil production from Troll field in the Norwegian sector of the North Sea, Statoil said Friday. More »

Troll marks 20 years since first oil

This week marks 20 years since the start of oil production from Troll field in the Norwegian sector of the North Sea, Statoil said Friday. More »

Sustained low oil prices could reduce EandP investment: EIA

Low oil prices, if sustained, could mark the beginning of a long-term drop in upstream oil and natural gas investment. More »

Statoil reduces capex for Johan Sverdrup Phase 1

Statoil, the operator for Johan Sverdrup, has presented a preliminary capex estimate for the first phase of the development, which is showing reduced capital expenditures as a result of a positive market response in contracts and purchase orders, partner Det Norske said Friday. More »

Schlumberger won't extend $1.7-billion Eurasia Drilling deal

Schlumberger will not extend its pending agreement to acquire a minority equity interest in Russia’s Eurasia Drilling when the current extension expires, according to a company statement. More »

Repsol sells stake in CLH for €325 million

Repsol has reached an agreement to sell the 10% stake it held in Compañía Logística de Hidrocarburos (CLH) to investment company Ardian for 325 million euros. More »

Maersk Training’s new U.S. center to open with world’s most advanced simulator

Maersk Training, together with Oiltec Solutions and eDrilling, announced Thursday that training on the world’s most advanced drilling and engineering simulator—wellSim hiDRILL—will be available in Maersk Training’s new training facility in Houston, when the center opens in November. More »

U.S. will be net exporter of natural gas by 2017, report says

The United States' natural gas demand is currently growing at the fastest pace since the early 1970s, and demand growth has now supplanted supply growth as the cornerstone for the outlook of the U.S. natural gas industry over the next five years, according to a new CoBank research report. More »

Nobody is making money off U.S. natural gas exports, Engie says

Just as gas export-terminals are preparing to start up along America’s Gulf Coast, the oil-price crash has made it unprofitable to send the U.S. fuel abroad, according to the North America head of power and natural gas supplier Engie. More »

YPF said to cut spending in 2016 as $77 crude disappears

Argentina’s YPF SA will cut spending by as much as 20% next year if a new administration lowers the domestic oil price nearer to international levels. More »

BP renews global agreement with Yokogawa for supply of main automation contractor services

TOKYO -- Yokogawa Electric Corporation has announced the renewal of a global agreement with BP to supply main automation contractor services (MAC services) to BP's upstream entities. More »

Baker Hughes introduces first V1-validated deepwater safety valve

Baker Hughes has announced the commercial release of its DeepShield deepwater safety valve, the industry’s first V1-validated subsurface safety valve tested to help ensure fail-safe operations as defined in the new API Spec 14A. More »

EMGS signs agreement with Directorate General of Hydrocarbons in India

Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the company has signed a multi-client acquisition agreement with the Directorate General of Hydrocarbons (DGH) in India. More »

Halliburton to cull managers in fresh round of layoffs

Halliburton is to cut more jobs in North America as the industry downturn continues to take its toll on the region. More »

Ikon Science launches RokDoc 6.3

Ikon Science has released the latest version of its flagship RokDoc platform: version 6.3. This release includes new modules, improvements and enhanced features, new science, technologies and usability across the platform and all the modules of RokDoc. More »

Ichthys LNG project floats world’s largest semisubmersible, INPEX says

The INPEX-operated Ichthys LNG project launched its central processing facility (CPF) on Sept. 19 from the offshore floating dock at the Samsung Heavy Industries shipyard in Geoje, South Korea, where it is being constructed. More »

Gladstone LNG starts production on schedule, Santos says

The Gladstone LNG (GLNG) project has started producing its first liquefied natural gas on Curtis Island, Queensland, on schedule and within budget, Adelaide, Australia-based Santos announced Thursday. More »

Croatia puts off major oil and gas deals until after election

The Croatian government postponed the signing of all oil and gas production-sharing accords until after this year’s general elections in a move that may delay concession revenue inflow. More »

Wood Group supports MWCC’s well containment training

Wood Group has been awarded a contract with Marine Well Containment Company (MWCC) to provide an operator training simulator; supporting training for containment in the event of a deepwater well control incident in the Gulf of Mexico. More »

InterMoor UK Operations achieves eight years without lost-time incident

InterMoor UK Operations, part of Acteon’s foundations and moorings business, has surpassed eight years and more than 2,520 projects without a single lost-time incident (LTI). More »

Stirling Group announces two appointments in its crisis management team

Stirling Group, a global provider of health, safety and environmental services to the oil and gas industry, has bolstered its services to clients with two key appointments in the field of crisis management. More »

Vallourec supplies OCTG and line pipe for Stampede project in GoM

Vallourec delivers 14,000 tons of premium tubes in the scope of a contract with Hess Corporation for the Stampede project in the U.S. Gulf of Mexico. More »

Somalia's Puntland begins exploration in offshore blocks

Puntland, a semi-autonomous region of northeastern Somalia, will conduct a survey of its offshore region to search for oil as the country prepares a licensing round for exploration, the head of the Puntland Petroleum and Minerals Agency said. More »

Tethys Oil reports successful exploration well onshore Lithuanian

Tethys Oil has completed the drilling of the Tidikas-1 exploration well on the Raseiniai license onshore Lithuania, the Stockholm-based company announced Wednesday. More »

NPD sends assesment of Gullfaks development plan to government

Gullfaks field, one of the major cash cows on the Norwegian Continental Shelf, which has been producing for nearly 30 years, is facing further investments to boost production and extend its productive life. More »

Europa Oil and Gas to assume operatorship of Porcupine basin licenses

Europa Oil and Gas has announced that it intends to assume 100% interest in, and operatorship of, licenses FEL 2/13 and FEL 3/13 in the Porcupine basin, offshore Ireland. More »

FMC bags contract for Shell's deepwater Appomattox development

FMC Technologies, Inc. has received an award from Shell Offshore for its Appomattox deepwater development in the Gulf of Mexico. More »

Landmark and Palantir Solutions form strategic alliance

Landmark, a Halliburton business line, and Palantir Solutions have formed an alliance to develop a fully integrated economics, planning and decision support framework. More »

CGG completes depth imaging of Banda Arc survey offshore Indonesia

CGG announced Wednesday that all four phases of its BandaSeis 2D BroadSeis multi-client program targeting the Banda Arc around East Indonesia and Timor Leste have now been fully processed and are ready for delivery. More »

Total cuts output target as low prices expected to persist

Total SA, Europe’s second-biggest oil company, scaled back its production target for 2017 as it announced a further round of investment cuts and project delays to protect its dividend. More »

Total cuts oil output target as low prices expected to persist

Total SA, Europe’s second-biggest oil company, scaled back its production target for 2017 as it announced a further round of investment cuts and project delays to protect its dividend. More »

ProSep signs CO2 membrane agreement with Generon

ProSep, the oil, gas, and water treatment specialist has signed a collaboration agreement with Generon IGS, a provider of comprehensive gas separation and compression solutions, to develop and commercialize a state-of-the-art line of CO2 separation membrane products. More »

Kosmos Energy withdraws from Porcupine licenses; Europa Oil and Gas to assume complete operatorship

Europa Oil and Gas has announced that it intends to assume 100% interest in, and operatorship of, licenses FEL 2/13 and FEL 3/13 in the Porcupine basin, offshore Ireland. More »

FMC Technologies bags contract for Shell Appomattox

FMC Technologies, Inc. has received an award from Shell Offshore for its Appomattox deepwater development in the Gulf of Mexico. More »

Suretank announces delivery of complex offshore engineered cabin

Suretank, provider of engineered solutions to the offshore oil and gas industry, has successfully delivered its most advanced engineered cabin for the offshore market. More »

Landmark and Palantir Solutions form a strategic alliance

Landmark, a Halliburton business line and Palantir Solutions have formed an alliance to develop a fully integrated economics, planning and decision support framework. More »

Petrobras sees ‘great wave’ of $100-oil never coming back

It’s unlikely that oil prices will ever return to $100/bbl and Petroleo Brasileiro SA needs to work with suppliers to manage the price rout, an executive at the state-run oil producer said Tuesday. More »

Senate Democrats unveil energy bill that fosters clean power

Senate Democrats unveiled a bill that would provide more tax credits for renewable energy while killing some tax incentives for oil and natural gas producers. More »

Hillary Clinton comes out against Keystone pipeline

Ending years of declining to take a side on the issue because of her role in the Obama administration, Hillary Clinton on Tuesday announced her opposition to the construction of the Keystone XL oil pipeline. More »

OPEC serves as unlikely ally for the greater sage grouse

The greater sage grouse may have found an unlikely ally: OPEC. More »

ConocoPhillips nearing Canadian assets sale

ConocoPhillips, the third-largest North American oil and gas producer, is nearing a deal to sell several Western Canadian assets to various buyers including Canadian Natural Resources Ltd., people with knowledge of the matter said. More »

Technip USA and SHI develop a joint design of semisubmersible production platform

Technip USA, Inc., and Samsung Heavy Industries (SHI), Ltd. have entered into an agreement to develop a joint design of a low motion semisubmersible production platform. More »

Halliburton to pay $18 million in overtime after U.S. investigation

In one of the largest recoveries of overtime wages in recent years for the U.S. Department of Labor, Halliburton has agreed to pay $18,293,557 to 1,016 employees nationwide. More »

Exxon Mobil awards packer technology license to Weatherford

Exxon Mobil Upstream Research Company has awarded Weatherford U.S., L.P. an international license for Exxon Mobil’s patented Internal Shunt Alternate Path (ISAPT) packer for openhole completions. More »

Exxon Mobil awards ISAPT sand screen license to Schlumberger

Exxon Mobil Upstream Research Company has awarded Schlumberger an international license for Exxon Mobil’s patented Internal Shunt Alternate Path (ISAPT) sand screens to improve gravel packing of cased and openhole completion wells. More »

Packers Plus opens service, sales centers in Argentina

Packers Plus Energy Services has positioned itself to continue expansion into the Latin America region with its newest service and sales centers in Neuquén and Buenos Aires, Argentina, respectively. More »

Wireless Seismic announces purchase of RT System 2 by SINOPEC Geophysical Corp.

Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Chinese seismic contractor, SINOPEC Geophysical Corporation (SGC), following extensive system trials in China. More »

Wood Group acquires Automated Technology Group

Wood Group has acquired Automated Technology Group (ATG), one of the UK’s largest independent suppliers of control and power solutions for industrial automation. More »

OneSubsea wins FEED contract for Greater Enfield Area Development

OneSubsea, a Cameron and Schlumberger company, has been awarded a front-end engineering and design (FEED) contract for the Greater Enfield Area Development offshore northwest Australia. More »

Halliburton to pay over $18 million in overtime after U.S. investigation

In one of the largest recoveries of overtime wages in recent years for the U.S. Department of Labor, Halliburton has agreed to pay $18,293,557 to 1,016 employees nationwide. More »

Enterprise starts service on Rancho II pipeline

Enterprise Products Partners has started service on its Rancho II pipeline between Sealy, Texas, and the partnership’s ECHO terminal in southeast Houston. The 88-mile, 36-in. diameter pipeline will transport various grades of crude oil, condensate and processed condensate from the Permian basin and the Eagle Ford shale. More »

Subsea UK on a mission to strengthen ties with Mexico

UK subsea companies will be heading to Mexico at the end of this week on a trade mission, which aims to match British expertise with the requirements of the emerging oil and gas sector in Latin America’s second largest economy. More »

OneSubsea wins FEED contract for Woodside’s Greater Enfield Area Development

OneSubsea, a Cameron and Schlumberger company, has been awarded a front-end engineering and design (FEED) contract for the Greater Enfield Area Development offshore northwest Australia. More »

Alta Mesa announces sale of Alta Mesa Eagle, LLC

Alta Mesa Holdings has entered into an agreement to sell its subsidiary, Alta Mesa Eagle, which owns certain oil and gas producing properties in the Eagle Ford shale area and other assets, to EnerVest and its affiliates, for a total price of $125 million. More »

Argos Resources completes farm-out for Falklands license

Argos Exploration Limited, a subsidiary of Argos Resources Limited, has completed a farm-out agreement with Noble Energy Falklands Limited and Edison International in respect of its license PL001. More »

Statoil Brazil awards Peregrino contract to Wood Group

Statoil, on behalf of the Peregrino license partners, has awarded a contract to Wood Group to provide four-year operations and maintenance for two wellhead platforms and modification services for both units and the FPSO Peregrino. More »

Asian LNG prices seen sinking as low as $4 in ‘ugly’ market

The slump in LNG prices still has further to go, even after a plunge of 60% from last year’s peak, according to FGE, an energy consultant. More »

Husky scraps off West Mira drilling contract with Seadrill

Seadrill Limited has been notified by Husky Oil Operations Limited of the cancellation of the drilling contract for the West Mira. More »

Kurds lose fight to sell crude oil in U.S. after Iraq sues

Iraq’s self-ruled Kurds can’t sell Iraqi crude oil in the U.S. under a court decision that puts a fresh hurdle in the path of Kurdish efforts to achieve financial independence from the central government in Baghdad. More »

Fritz Industries brings innovative long-term scale and paraffin inhibitor solution to customers globally

Fritz Industries, a manufacturer of oilfield products, has reached an agreement with Baker Hughes Incorporated. Under the terms of the agreement, Fritz is now licensed to offer select flow assurance products to the market. More »

Center for Offshore Safety releases Second Annual Performance Report

The Center for Offshore Safety (COS) has released its second ‘Annual Performance Report for 2014 Reporting Year.” More »

Argos Resources completes farm-out agreement for license PL001

Argos Exploration Limited, a subsidiary of Argos Resources Limited, has completed a farm-out agreement with Noble Energy Falklands Limited and Edison International in respect of its license PL001. More »

Petrobras cuts vessel contracts amid oil rout

Petroleo Brasileiro SA has canceled five platform-supply vessels from two separate contractors as a rout in oil prices and rising borrowing costs force Brazil’s state-controlled producer to deepen spending cuts. More »

Oil climbs as falling U.S. rig count seen further curbing output

Oil advanced on signs that producers are investing less in drilling, which could take a bigger bite out of falling U.S. crude production. More »

IDE returns to Integrated Electrical Control Systems

Integrated Drilling Equipment, Inc. announced today it has exited the rig construction business to focus on its origins as one of the energy industry’s most respected innovators and providers of power and control solutions. More »

Inaugural Romania oil and gas summit to take place March 2016

Dates have been announced for the first Romania Oil and Gas Summit (ROGS), which will be patronized, hosted and developed in conjunction with Romania’s Ministry of Energy, Small and Medium-Sized Enterprises and Business Environment. More »

Claxton installs new fully forged drilling riser system in the North Sea

Claxton, an Acteon company, has successfully installed a high-pressure drilling riser system as part of a multimillion-dollar contract for the Catcher area field development in the Central North Sea. More »

Total sells a 10% interest in Fort Hills oil sands project to Suncor

Total has signed an agreement to sell a 10% interest in the Fort Hills oil sands mining project to the operating partner Suncor Energy. More »

Oil speculators most bullish in two months as OPEC calls for $80

Hedge funds slashed their bets on falling oil prices, leaving them the most bullish in two months as OPEC called for a return to $80 crude. More »

U.S. oil price gets closer to global benchmark as glut shifts

U.S. oil prices narrowed their discount to international benchmark Brent as a supply glut in North America abated, even as it grew elsewhere. More »

Hilcorp submits development plan for Liberty prospect, offshore Alaska

The Bureau of Ocean Energy Management (BOEM) has received a Development and Production Plan (DPP) from Hilcorp Alaska, relating to oil and gas development on the Liberty Prospect. More »

Decommissioning—this time it’s different: DW Monday

For much of the period since the year 2000 – characterized by high and rising oil prices, and long-term concerns over global oil supply – decommissioning took a backseat. More »

Oil at $50 threatens oil, gas projects worth $1.5 trillion, Wood Mac says

In a comprehensive analysis looking at the impact of cost deflation on the global upstream oil and gas sector, Wood Mackenzie concludes that while operators are seeking an average cost reduction of 20-30% on projects, supply chain savings through squeezing the service sector will only achieve around 10-15% on average. More »

Gazprom Neft gets second batch of Badra oil from Iraq's government

Gazprom Neft has received its second allocation of oil from the Iraqi State Organization for Marketing of Oil (SOMO) in compensation for costs incurred in developing Badra oil field. More »

TGS, APPA announce Africa stratigraphic harmonization project

TGS and the African Petroleum Producers’ Association (APPA) have signed a Letter of Intent to harmonize the stratigraphic nomenclature of the sedimentary basins of 13 countries in Africa. More »

Mitcham Industries announces passing of CEO

Mitcham Industries, a geophysical equipment supplier, announced Monday that Billy F. Mitcham Jr., the company’s president and CEO, has passed away. More »

Amec Foster Wheeler wins living-quarters contract for BP’s Eastern Trough Area Project

Amec Foster Wheeler has been awarded an engineering, procurement and construction (EPC) contract by BP for the provision of additional living quarters, as part of BP’s Life Extension Project on the Eastern Trough Area Project (ETAP) in the Central North Sea. More »

For North Sea decommissioning, it appears that this time, it’s different: DW Monday

For much of the period since the year 2000 – characterized by high and rising oil prices, and long-term concerns over global oil supply – decommissioning took a backseat. More »

Hilcorp submits Development and Production Plan for Liberty Prospect: BOEM

The Bureau of Ocean Energy Management (BOEM) has received a Development and Production Plan (DPP) from Hilcorp Alaska, relating to oil and gas development on the Liberty Prospect. More »

Providence Resources inks strategic exploration collaboration agreement with Schlumberger

Providence Resources, the Irish based oil and gas exploration company, has signed a strategic and incentivized exploration collaboration agreement with Schlumberger in respect of the southern Porcupine and Goban Spur basins, in which Schlumberger will underpin Providence’s technical team with specific ‘state of the art’ technology access. More »

Bullish hedge funds catch a break as crude slide halts near $45

Oil rose after the biggest drop in more than two weeks, providing relief to investors who were the most bullish since early July. More »

Gas bears rattled by shrinking shale cut bets to six-month low

Speculators cut bearish bets on natural gas to a six-month low after late-breaking summer heat stoked demand for the power-plant fuel and as shale supplies start to slide. More »