Crude rises first time in 5 days as U.S. drillers idle oil rigs

Crude rose for the first time in five days on speculation that the falling number of rigs drilling for oil in the U.S. will further curb output. More »

U.S. cancels remaining Arctic offshore lease sales under Obama

In light of current market conditions and low industry interest, the U.S. Department of the Interior announced Friday that it will cancel the two potential Arctic offshore lease sales scheduled under the current five-year offshore oil and gas leasing program for 2012-2017. More »

Schlumberger now sees ‘challenging’ global oil market continuing

Three months ago, the head of Schlumberger Ltd. thought the industry had seen the worst of the U.S. oil market collapse. Now he’s not so sure. More »

EIC announces winner of Award for Supply Chain Excellence 2015

The Energy Industries Council (EIC) announced SPX Flow as the winner of the EIC Award for Supply Chain Excellence 2015, held at the EIC National Dinner last night, Oct. 15. More »

DNV GL to lead project developing end of life guidance for offshore installations

DNV GL, in collaboration with Decom North Sea (DNS), is seeking industry partners to participate in a joint industry project (JIP). The project will develop industry guidance to assist in effective and cost-efficient major accident hazard management for installations during late-life and end of life operations. More »

Norway warns of weakened chances to get exploration blocks in Barents Sea

Norway, western Europe’s biggest oil and gas producer, warned companies that failing to extract less profitable barrels could weaken their chances of getting exploration blocks in a new area of the Arctic Barents Sea. More »

Big Oil companies back agreement to prevent climate change

Ten major energy companies declared their support for a global deal to prevent climate change, but stopped short of offering unanimous backing for carbon pricing. More »

Lundin spuds well on Rolvsnes prospect offshore Norway

Lundin Norway, the wholly owned subsidiary of Lundin Petroleum has commenced drilling of exploration well 16/1-25 S on the Rolvsnes prospect in PL338C. More »

Japan island paradise helps Saudi Arabia in Asia oil push

Saudi Arabia is boosting its use of leased oil-storage tanks on a small island in a region of Japan better known for its white sandy beaches and holiday resorts. More »

In the heart of the Texas oil patch, it’s gas that’s taking off

The oiliest county in Texas has seen its new natural gas production capacity more than double as drillers home in on their most profitable acreage. More »

Rifle Shot Oil acquires Redwater area assets in Alberta

Rifle Shot Oil has completed the acquisition of assets in the Redwater area of Alberta. More »

WandT Offshore sells its Yellow Rose field in Permian basin to Ajax Resources

WandT Offshore has closed the previously announced sale of all of its interest in its Yellow Rose field in the Permian basin of West Texas to Ajax Resources. More »

Bechtel delivers first cargo of LNG for Santos GLNG project

Bechtel has announced the first cargo of Liquefied Natural Gas from the GLNG project has been successfully loaded onto the cargo vessel Seri Bakti, and began its journey to South Korea. More »

ESG Solutions acquires Spectraseis

ESG Solutions has confirmed the acquisition of Spectraseis, a provider of surface-based seismic technology and services for hydraulic fracture monitoring (HFM) and induced seismicity monitoring (ISM), through its parent organization, Spectris plc. More »

Winners of 2015 World Oil Awards honored in Houston gala

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Oil extends losses as U.S. crude supplies surge most since April

Oil extended losses after the biggest U.S. crude stockpile increase in six months bolstered speculation a global surplus will persist. More »

Wireless Seismic announces purchase of RT System 2 by Yug-Neftegaz Private Ltd.

Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Singapore-based oilfield services holding company, Yug-Neftegaz Private Limited (YNG), for seismic acquisition projects in Turkmenistan. More »

Vallourec wins order for premium drilling products from BOMCO

Vallourec and Baoji Oilfield Machinery Co. (BOMCO) have signed a contract for the delivery of 12 drill strings in sour service grade (VM105 DP SSE) equipped with VAM Express connections. More »

Vallourec wins order for premium drilling products from BOMCO

Vallourec and Baoji Oilfield Machinery Co. (BOMCO) have signed a contract for the delivery of 12 drill strings in sour service grade (VM105 DP SSE) equipped with VAM Express connections. More »

Norway opens spigots as crude price collapse erodes revenue

Norwegian oil companies are turning on the spigots to counter plunging crude prices. More »

Hedging protections for North American EandP companies to plunge in 2016: IHS

Oil and gas hedging protections for North American exploration and production (EandP) companies will plunge in 2016 to just 11% of total production volumes, leaving many EandP companies at high risk of financial stress, according to new energy company performance analysis from IHS, the global source of critical information and insight. More »

Lloyds Register Energy, The Well Academy collaborate on well control training

Lloyd’s Register Energy’s Training Academy and The Well Academy are working together to develop a new enhanced training program for well control certification. More »

New wells confirm Libra field potential: Petrobras

The consortium responsible for the Libra oil field in the Santos basin pre-salt has completed the drilling of well 3-BRSA-1310-RJS, in the central area of the block. More »

Statoil awards new Johan Sverdrup contract to Aibel

Statoil has, on behalf of the Johan Sverdrup partners, awarded Aibel in Norway the contract for construction of the converter station at Haugsneset, Norway, and required construction site work for land-based power supply to the field. More »

Statoil awards yet another Johan Sverdrup EPC contract to Aibel

Statoil has, on behalf of the Johan Sverdrup partners, awarded Aibel in Norway the contract for construction of the converter station at Haugsneset and required construction site work for land-based power supply to the field. More »

Talisman Sinopec awards Archer contract for platform drilling services

Archer (UK) Limited has won a three-year contract, with two times two-year extension options, for the provision of platform drilling services for Talisman Sinopec Energy UK Limited. More »

Iran is even more tempting for big oil after the price slump

The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost. More »

Repsol targets $7.1 billion of asset sales in new strategic plan

Repsol SA plans to sell 6.2 billion euros ($7.1 billion) of assets and cut investments by as much as 38% over the next five years to help it preserve dividends. More »

Kurdish oil producers rally as Gulf Keystone receives payment

Oil producers operating in the Kurdish area of Iraq rallied Thursday after Gulf Keystone Petroleum Ltd. received its second payment from the regional government for crude exports. More »

Swift-JB International launches high pressure filter assemblies

Swift-JB International has announced a line of high pressure T-Type filter assemblies. More »

Gastar Exploration acquires mid-continent interests and marketing of Appalachian basin assets

Gastar Exploration has entered into a definitive purchase and sale agreement to acquire additional working and net revenue interests from its AMI partner, Husky Ventures and certain other parties. More »

Hedging protections for North American EandP companies to plunge in 2016; picture isn’t pretty, IHS says

Oil and gas hedging protections for North American exploration and production (EandP) companies will plunge in 2016 to just 11% of total production volumes, leaving many EandP companies at high risk of financial stress, according to new energy company performance analysis from IHS, the global source of critical information and insight. More »

Oil slide means ‘almost everything’ for sale as rout deepens

More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according to IHS Inc. More »

Oxy spinoff California Resources weighs asset sales to reduce debt load

California Resources Corp. is considering selling oil and natural gas fields, pipelines and processing plants to pay down debt as faltering energy prices shrink cash flow. More »

Det norske acquires Svenska Petroleum’s Norwegian subsidiary

Det norske oljeselskap has entered into an agreement to acquire Svenska Petroleum Exploration for a cash consideration of $75 million on a cash free, debt free basis. More »

Jordan picks Shell for two-year LNG supply to meet demand

Jordan selected Royal Dutch Shell Plc to supply LNG for the next two years after a tender. More »

NCS Multistage sets world record in 52-stage Permian basin completion

NCS Multistage placed 14.1 million lb (6,395 t) of proppant in a 52-stage completion in the Permian basin, a world record for completions using coiled tubing and single-point frac injection. More »

Technip, 3D at Depth unite to expand LiDAR technology in Gulf of Mexico

Technip USA and 3D at Depth, a provider of advanced subsea LiDAR systems and solutions, have signed a joint development agreement to expand and commercialize the LiDAR technology for subsea metrology, field survey and IRM applications. More »

Halliburton golf tournament sets new charity fundraising record

HOUSTON -- The 22nd annual Halliburton Charity Golf Tournament raised a record of more than $3 million for 43 nonprofit organizations across the U.S., making it one of the largest non-PGA golf tournament fundraisers in Texas. More »

Sinopec gets approval for $20-billion West-East gas pipeline

China Petrochemical Corp., Asia’s biggest refiner, received government approval to build an 8,400-km (5,221-mile) pipeline network to connect gas fields in northwest China to southern and eastern provinces. More »

Dr. Stephen Liu Named ABS Chair, Colorado School of Mines

ABS has announced the appointment of Stephen Liu to the American Bureau of Shipping Endowed Chair in Metallurgical and Materials Engineering at the Colorado School of Mines. More »

Lukoil deepwater gas find offshore Romania could hold more than 30 Bcm

Lukoil’s Lira-1X wildcat has discovered a gas field in the Lira offshore structure, which is located on the Trident Block (EX-30), in the deep waters offshore Romania. More »

Summit ESP marks 5,000th installation

Summit ESP, an electric submersible pump systems provider, has completed its 5,000th ESP installation during the third quarter of 2015 on a well for Denbury Resources, the CHSU - ML 13-09SH in Bowman County North Dakota at a setting depth of 8,400 ft. More »

Cheniere commissioning Sabine Pass gas terminal, Bechtel says

Cheniere Energy Inc.’s Sabine Pass terminal, the first complex designed to liquefy and export natural gas from the continental U.S., is being commissioned and is on track to start producing by the end of the year, said Bechtel Corp. More »

Lukoil deep water gas find offshore Romania could hold more than 30 Bcm

Lukoil’s Lira-1X wildcat has discovered a gas field in the Lira offshore structure, which is located on the Trident Block (EX-30), in the deep waters offshore Romania. More »

Subsea 7 awarded contract offshore Egypt

Subsea 7 has been awarded a sizeable contract by Pharaonic Petroleum Company S.A.E. for the development of the East Nile Delta Phase 3 Project (END-3). More »

California Resources weighs oilfield sales to reduce debt load

California Resources Corp. is considering selling oil and natural gas fields, pipelines and processing plants to pay down debt as faltering energy prices shrink cash flow. More »

E.ON sells Norwegian EandP business to DEA for $1.6 billion

E.ON has signed an agreement to sell 100% of its shares in E.ON EandP Norge to DEA Deutsche Erdoel AG. More »

ABS names Stephen Liu as ABS Chair of Colorado School of Mines

ABS has appointment Stephen Liu to the American Bureau of Shipping Endowed Chair in Metallurgical and Materials Engineering at the Colorado School of Mines. More »

APS Technology announces the addition of new Azimuthal Gamma LWD

APS Technology, a provider of MWD/LWD, drilling optimization and vibration management products for the oilfield, has announced the addition of its new SureLog-AZG azimuthal gamma ray LWD sensor sub. More »

Pennsylvania inks cooperation agreement with West Virginia, Ohio to boost shale gas industry

Governor of Pennsylvania, Tom Wolf, has announced that Pennsylvania has entered into a three-year cooperation agreement with West Virginia and Ohio to collaborate on areas critical to maximizing economic growth in the shale gas region. More »

Texas congressman receives industry award

Congressman Lamar Smith (Republican – Texas, 21st District), chairman of the House Science, Space and Technology Committee, was honored on Monday with the presentation of the “Congressman of the Year Award” by the Texas Alliance of Energy Producers. More »

Repsol, Armstrong restructure Alaska North Slope project

Repsol and privately held Armstrong Oil and Gas have reached an agreement to strategically re-align their interests in their Alaska North Slope exploration and development venture. More »

Oil seen below $100 until 2020 by ex-IEA chief due to U.S. shale

Oil prices won’t rebound to $100/bbl before 2020 to 2025, when U.S. shale production will gradually start to decline, according to a former head of the International Energy Agency. More »

Oil and gas evaluating capital options as MLPs, IPOs drop in third quarter

Amid oil prices at record lows and potential interest rate hikes, the third quarter of 2015 saw a marked decrease in the number of North American oil and gas initial public offerings (IPOs) and master limited partnerships (MLPs). More »

RMEC increases yard by 150% to meet industry needs

Oilfield services firm RMEC has completed a significant expansion to its premises in response to the growing demand from oil and gas companies looking to rent equipment rather than purchase costly kit. More »

Oil traders targeting Iran for $1 billion in gas sales

Iran will need to import about 20% more gasoline to meet pent-up demand in the first year after economic sanctions are lifted, creating a market for some $1 billion in fuel sales from abroad, according to traders and analysts. More »

Vanguard Natural Resources closes merger with Eagle Rock Energy Partners

Vanguard Natural Resources has announced the closing of its merger with Eagle Rock Energy Partners. More »

Wireless Seismic announces purchase of RT System 2 by PT Elnusa Tbk

Wireless Seismic has announced the sale and delivery of its RT System 2 seismic data acquisition system to the Indonesian seismic contractor, PT Elnusa Tbk (Elnusa), after comprehensive system field trials in north Sumatra, Indonesia. More »

Petrofac secures Shell training contract in Iraq

Petrofac has been awarded a multi-million dollar technical training contract with Shell Iraq, achieving their fourth win with a major operator in the country. More »

Jee secures contract extension with BP

Jee Ltd., an independent multi-discipline subsea engineering and training firm, has secured a contract extension with BP for the provision of integrity management services and in-line inspection engineering support in the North Sea. More »

Repsol drills dry well southwest of Njord field

Repsol Norge, operator of production license 642, is in the process of concluding the drilling of wildcat well 6306/5-2, the Norwegian Petroleum Directorate announced Tuesday. The well is dry. More »

Noreco announces departure of CEO

Norwegian Energy Company (Noreco) has announced that its CEO, Tommy Sundt is stepping down. More »

Oil falls to one-week low as IEA counters OPEC view on recovery

Oil slid to a one-week low in New York as the IEA’s prediction that the global surplus will persist next year countered OPEC’s view of a recovering market. More »

IEA expects Iraqi oil output to remain ‘broadly flat’ next year

Oil production from Iraq, the world’s fastest source of supply growth last quarter, will remain similar to current levels next year as the slump in crude prices and the cost of fighting Islamic State militants hamper the government’s ability to invest in new capacity, the International Energy Agency said. More »

Orlen buys oil and gas assets in Canada, Poland for $392 million

PKN Orlen SA, Poland’s biggest oil company, is expanding its Canadian and Polish operations through two $392 million acquisitions, taking advantage of plunging crude prices. More »

Oil giants to miss third-quarter profit estimates, Barclays says

The biggest publicly traded oil producers based in the Western Hemisphere will fall short of Wall Street profit estimates when third-quarter results are released in coming weeks because energy prices have continued to slump, said Barclays Plc. analyst Paul Cheng. More »

Billionaire’s exit prompts Sri Lanka to seek new oil explorer

Sri Lanka will issue a fresh international tender for offshore oil and gas blocks after billionaire Anil Agarwal’s Cairn India Ltd. relinquished its exploration rights in the South Asian island. More »

Emerson Exchange '15: Project Certainty to reduce capital costs, schedule overages

Addressing a growing industry demand for transformational improvements in capital project execution, Emerson has launched Project Certainty, an innovative technology and engineering-based approach for improved capital efficiency and more reliable project schedules. More »

Emerson Exchange '15: Introducing Project Certainty to reduce capital costs, schedule overages

Addressing a growing industry demand for transformational improvements in capital project execution, Emerson has launched Project Certainty, an innovative technology and engineering-based approach for improved capital efficiency and more reliable project schedules. More »

Gulfport Energy, Rice Energy in Utica shale joint venture

Gulfport Energy Corporation has executed a Letter of Intent with Rice Midstream Holdings, a wholly owned subsidiary of Rice Energy, to form a midstream joint venture to develop natural gas gathering and water services assets to support Gulfport’s dry gas Utica shale development in eastern Belmont County and Monroe County, Ohio. More »

Oil falls most in three weeks as OPEC crude production climbs

NEW YORK (Bloomberg) -- Oil dropped the most in three weeks after OPEC reported that its members pumped the most crude in three years. More »

BP, Ocean Installer sign regional framework agreement

Ocean Installer has been awarded a regional framework agreement with BP for subsea work in the Gulf of Mexico (GoM) region. More »

INEOS Upstream buys North Sea gas fields from DEA

INEOS has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group. More »

INEOS buys North Sea gas fields

INEOS has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group. More »

Eni bags two licenses offshore Egypt in Mediterranean Sea

MILAN, Italy -- Eni has been awarded two new exploration licenses—North El Hammad and North Ras El Esh—offshore Egypt in the Mediterranean Sea, as a result of the 2015 EGAS bid round. More »

North Energy farms out of Barents Sea license

North Energy has signed a sale and purchase agreement with Pure EandP Norway, whereby North Energy sells its 10% interest in PL 708 to Pure. More »

Statoil boosts Gullfaks recovery with start of subsea wet gas compressor

Statoil, in conjunction with partners Petoro and OMV, has started the world's first subsea wet gas compression system at Gullfaks field in the North Sea. More »

OMV in new gas discovery in Pakistan’s Latif Block

OMV has discovered gas in the Latif South-1 exploration well in Pakistan’s Latif exploration license, the company said Monday. More »

OPEC sees crude demand growth, hopeful for market balance

Oil demand will grow and non-OPEC supply is due to contract, OPEC Secretary-General Abdalla Salem El-Badri said, hoping to see a more balanced market in 2016. More »

North Energy farms out of PL 708 in the Barents Sea

North Energy has signed a sale and purchase agreement with Pure EandP Norway, whereby North Energy sells its 10% interest in PL 708 to Pure. More »

World's first wet gas compression starts at North Sea Gullfaks: Statoil

Statoil with partners Petoro and OMV have started the world's first wet gas compression on the seabed of the North Sea Gullfaks field. More »

Eni bags two new exploration licenses in Egyptian offshore of Mediterranean Sea

Eni has been awarded with two new exploration licenses located in the Egyptian offshore of the Mediterranean Sea, North El Hammad and North Ras El Esh, as a result of the competitive 2015 EGAS bid round. More »

Nigeria state oil company reports loss in transparency report

Nigeria’s state oil company recorded a loss of 378 billion naira ($1.9 billion) in the first eight months of this year mainly because of fuel subsidy spending, it said in a publication that seeks to bring transparency to the organization. More »

Delek Group unit buys Ithaca stake to expand global activity

Delek Group Ltd., a partner in Israel’s two largest offshore natural gas fields, said a unit has acquired 20% of Canada’s Ithaca Energy Inc. for about $66 million as part of its strategy to transform itself into a global energy company. More »

OPEC’s Qatar says oil prices bottomed out, sees recovery in 2016

Global oil prices have bottomed out, with signs of a recovery seen in 2016, Qatar’s Energy Minister Mohammed Al Sada said. More »