Oil trades below $43 as Libya signals output rise at two fields

Oil traded below $43 as Libya signaled it may raise output and as fears eased that Russia would retaliate against Turkey for downing its jet near the Syrian border. More »

Oil pares weekly advance as global supply glut seen growing

Oil pared its first weekly gain in a month on signs the global surplus will expand and as the dollar increased, reducing demand for commodities as an investment. More »

Struggling oil service urged to act as capital squeeze looms

Oil service companies struggling with a slump in demand will need to act fast to bolster their balance sheets and make deals before capital becomes scarce, Norway’s largest bank says. More »

Canadian energy companies seen disappearing in oil’s ‘new world’

Canada is poised to lose energy companies as the industry faces the “new normal” of lower and more volatile oil prices along with tougher climate and regulatory policies, billionaire investor Murray Edwards warned Friday. More »

Oil majors queue in Iran as $30 billion of projects in play

Total, Royal Dutch Shell and Lukoil are among international companies that have selected oil and natural gas deposits to develop in Iran as the holder of the world’s fourth-largest crude reserves presents $30 billion worth of projects to investors. More »

AGCC survey finds crisis of confidence for North Sea oil and gas industry

The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. More »

Confidence crisis for North Sea oil and gas industry: AGCC survey

The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. More »

Suncor may scrap $4.5-billion Canadian Oil Sands bid if offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders. More »

Lloyd’s Register bags global Master Service Agreement with Statoil

Lloyd’s Register has signed a Master Service Agreement (MSA) with Statoil, effective Nov. 10 which will cover Statoil’s full project portfolio from new builds to modifications of existing assets. More »

Oil and gas stakeholders collaborate to repel birds from offshore installations and maintain safety

Offshore installations provide birds with a perfect landing spot. However, their presence is a globally recognized problem because, if left undisturbed, guano build up can reduce the safety of helidecks. More »

Jackup players collaborate to increase reliability and reduce cost in new DNV GL JIP

Lack of properly assessed and defined wear limits for jacking systems can lead to significant downtimes with financial implications for jackup operations. More »

Confidence crisis for North Sea oil and gas industry: AGCC's 23rd Oil and Gas Survey

The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. More »

Suncor may scrap oil sands bid if $4.5 billion offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders. More »

Biggest oil buyers pick themselves as winners from OPEC meeting

Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They’ll emerge as winners from the group’s rift over production. More »

Aker Solutions wins BP contract for work offshore Norway

Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway. More »

Aker Solutions wins Norway contract from BP

Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway. More »

Oil falls as U.S. supplies weighed against drilling decline

Oil fell in New York for the first time this week as the U.S. supply glut weighs on prices after crude inventories rose for a ninth week. More »

Katalyst Data Management enters Australia, awarded major seismic data project

Mere months since their market entry into the Asia-Pacific, Katalyst Data Management, through its Australian subsidiary KDM SpectrumData, has taken on a major oil and gas seismic data management project for the Geological Survey of Queensland and the Department of Natural Resources and Mines in Australia. More »

eDrilling opens new office in Singapore

eDrilling, a provider of drilling and well performance solutions, has announced the opening of a wholly owned subsidiary, eDrilling APAC, Inc., in Singapore. More »

Lundin’s Selada wildcat disappoints offshore Malaysia

Lundin Malaysia, a wholly owned subsidiary of Lundin Petroleum, has completed the Selada-1 exploration well in Block PM308A, offshore Malaysia. More »

Canadian Oil Sands seeks white knight as Suncor closes in on bid

Suncor Energy Inc.’s battle for Canadian Oil Sands Ltd. is getting more crowded. More »

Lundin drills duster at Selada exploration well offshore Malaysia

Lundin Petroleum’s wholly owned subsidiary, Lundin Malaysia BV, has completed the Selada-1 exploration well in Block PM308A, offshore Malaysia. More »

Wood Group wins $90 million contract in Iraq

Wood Group has won a new contract worth approximately $90 million to deliver services to one of the blue-chip international oil companies (IOC) in Iraq. More »

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum Ltd. has announced a successful bid in the third Hungarian bid round for the Püspökladány Block (Block "P") within the Pannonian basin in north eastern Hungary. More »

Katalyst Data Management enters Australia, awarded major oil and gas seismic data project

Mere months since their market entry into the Asia-Pacific, Katalyst Data Management, through its Australian subsidiary KDM SpectrumData, has taken on a major oil and gas seismic data management project for the Geological Survey of Queensland and the Department of Natural Resources and Mines in Australia. More »

eDrilling opens office in APAC

eDrilling has opened a wholly owned subsidiary, eDrilling APAC, Inc, in Singapore. More »

Aberdeen-based IMES invests in inspection technology

IMES has invested $75,387 (£50,000) in new technology, expanding its existing service offering for clients in the oil and gas industry. More »

Wärtsilä Ship Design to supply design for offshore vessel conversion

Dutch ship owner C-Bed has contracted Wärtsilä Ship Design to supply the design for rebuilding its Seismic Survey Vessel, the 'Viking II', for use as a hotel vessel. More »

U.S. drillers idle 13 more rigs: Baker Hughes

HOUSTON – Drillers in the U.S. idled 13 more rigs this week, according to the latest data released by Baker Hughes in advance of the Thanksgiving holiday. According to the service provider, the number of oil-directed rigs has now fallen for 12 of the past 13 weeks. More »

Oil declines after U.S. crude stockpiles advance in ninth week

Oil retreated after a government report showed that U.S. crude, gasoline and distillate fuel stockpiles increased. More »

Crude storage tanks nearing their brim spur ‘super contango’

Surging U.S. crude stockpiles that have filled storage tanks near capacity are widening the discount on immediate oil deliveries. More »

Cortec helps aging oil and gas structures in the Middle East

As oil and gas facilities in the Middle East are aging and approaching their anticipated design life, operators are asking whether the end is really near, and whether a new lease on life is possible. More »

Wild Well enhances advanced well control capabilities in Asia-Pacific

Wild Well Control Inc., a Superior Energy Services company and a global leader in well control, greatly enhances its presence in the Asia-Pacific region this month with the addition of vital, permanent personnel to offer advanced well control engineering capabilities at an unprecedented pace. More »

Russia halts natural gas supplies to Ukraine as payments end

Russia halted natural gas supplies to Ukraine after its western neighbor said it wouldn’t buy more this year amid ample supply. More »

Penspen awarded engineering study for the development of offshore field in Nigeria

Penspen, a leading global provider of engineering and management services to the energy industry, has been awarded a contract from Sirius Group to conduct an engineering study for the monetiZation of gas reserves from oilfields offshore Niger Delta. More »

Equatorial Guinea's National Gas Company opens negotiations for LPG purchase

The Ministry of Mines, Industry and Energy of Equatorial Guinea has announced that national gas company SONAGAS will begin marketing the State’s share of liquefied petroleum gas (LPG) produced at the Alba Plant, on Bioko Island. More »

DNV GL study calls for technology improvements to reduce costs for Barents Sea developments

OG21 has received the DNV GL study of technologies that should be developed for year-round oil and gas production at 74 degrees North in the Norwegian Barents Sea. More »

qedi wins commissioning contract from Apache North Sea

qedi, Amec Foster Wheeler's completions and commissioning provider, has been awarded a commissioning contract from Apache North Sea for the brownfield modifications on all their North Sea assets. More »

Eni’s Zohr find no barrier as Israel starts Egypt gas export talks

Israel’s natural gas companies have started talks about exporting gas to Egypt, three months after the largest ever natural gas discovery in Mediterranean waters seemed to threaten regional sales. More »

Ecopetrol names new executive V.P.

Ecopetrol's board of directors has elected Felipe Bayon Pardo as the new executive V.P. of the company. More »

BG starts commercial operations from second train at Queensland Curtis LNG

BG Group announced Wednesday that commercial operations have begun from the second train at its Queensland Curtis LNG (QCLNG) plant. QGC, BG Group's Australian subsidiary, has also assumed control of Train 2 from Bechtel Australia, which built the facility. More »

China oil giants seek asset sales as clock ticks to year-end

China’s biggest energy companies are seeking to unload assets and urging workers to cut costs in a last- minute rush to meet annual government-set growth targets as lower crude prices drag down earnings. More »

Ophir Energy said to receive merger interest amid oil slump

Ophir Energy Plc, the U.K. oil and gas explorer active in Africa, has received informal takeover and merger interest from several parties as a slump in crude oil prices forces independent operators to consolidate, according to people with knowledge of the matter. More »

Mexico reaps record $6.4 billion in oil hedge win, minister says

Mexico is reaping record financial returns from its oil hedge this year. More »

Introducing the new OPEC member that likes lower oil prices

After defending the interests of oil- exporting nations for five decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps. More »

U.S. Water strengthens presence in southeastern United States with acquisition

ST. MICHAEL, Minnesota – U.S. Water, an ALLETE company, has announced the acquisition of A and W Technologies. More »

University of Houston’s petroleum engineering program marks major milestone

The University of Houston’s petroleum engineering program—started in 2009 with just 20 undergraduate students—has been elevated to a full department within the UH Cullen College of Engineering. More »

Egypt’s Zohr gas field could boost other east Mediterranean projects: GlobalData

With the giant Zohr gas field in Egypt expected to come online by 2018, and President Abdel Fattah Al-Sisi agreeing to remove any political obstacles to Eni commercializing the field, the stage is being set for a wider regional development plan catalyzing other projects in the east Mediterranean, according to GlobalData. More »

New well confirms deepwater oil find in Potiguar basin's Pitu area: Petrobras

An extension well has confirmed the presence of oil in the Pitu area, Petrobras announced. The discovery of this accumulation in the deep waters of the Potiguar basin was first announced on Dec. 17, 2013. More »

Repsol reports record production in Bolivia

Repsol chairman, Antonio Brufau, and the president of Bolivia, Evo Morales, have announced the conclusion of the third phase of the Margarita-Huacaya project, the field with the largest production in the history of Bolivia. More »

Electric fault curbs Alvheim FPSO production capacity

More »

Vaca Muerta shale to double production by 2018, Wood Mac says

Production from Latin America's premier shale play, the Vaca Muerta, is expected to double by 2018 according to a new development study by Wood Mackenzie. Argentina's massive play continues to be the most prospective tight oil play outside of North America. More »

Rockhopper Exploration to buy Falkland Oil in $87-million deal

More »

Grandweld delivers dive maintenance and support vessel to ADNOC

Grandweld, one of United Arab Emirates leading shipyards, has delivered one dive maintenance and support vessel to Abu Dhabi National Oil Company (ADNOC). More »

Pennsylvania fines Chesapeake Appalachia $1.4 million over well pad landslide

Pennsylvania’s Department of Environmental Protection announced Monday that Chesapeake Appalachia, LLC has agreed to a Consent Order and Agreement and will pay a fine of $1.4 million for violations of Pennsylvania's Oil and Gas Act, Clean Streams Law and Dam Safety and Encroachments Act. More »

Lundin spuds Barents Sea exploration well on Ørnen prospect

Lundin Norway, a wholly owned subsidiary of Lundin Petroleum, has started drilling exploration well 7130/4-1 on the Ørnen prospect. More »

OPEC seen holding the line as $40 crude looms over Vienna

It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna. More »

Seadrill turns to loss on $1.8-billion writedown in oil rout

Seadrill Ltd., the offshore driller controlled by billionaire John Fredriksen, reported its first quarterly loss since 2011 as a collapse in oil prices reduced demand for its rigs. More »

U.S. Steel idles Granite City operations as oil price downturn drags on

United States Steel Corporation is to temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill., the company announced Monday. More »

Unique Group expands into Saudi Arabia

Unique Group, an integrated subsea and offshore solution provider, is making its first move into the Kingdom of Saudi Arabia with the opening of two new facilities in Riyadh and Dammam. More »

Resolute Energy Corp. to sell Gardendale assets in Midland basin

Resolute Energy Corporation announced today that it has entered into a definitive agreement to sell its Gardendale assets in the Midland basin of West Texas to an undisclosed buyer for a purchase price of $177.5 million. More »

Statoil receives consent for exploration drilling in the North Sea

The PSA has now granted Statoil consent for exploration drilling. More »

TGS' broadband reprocessing of 2D seismic covering the entire offshore Portuguese shelf

TGS has announced the broadband reprocessing of 22,847 km 2D seismic offshore Portugal. This project, which utilizes TGS' broadband solution Clari-Fi, is now fully underway. More »

Oil-sands chases carbon technology fix as Canada fights bad rap

Canada’s oil sands are about to be put on a carbon diet as the country strives to overcome the “dirty oil” label used by President Barack Obama in rejecting the Keystone XL pipeline. More »

Plugging of wells can prevent value creation

Re-using wells on the Norwegian shelf can be good business. This is why the Norwegian Petroleum Directorate (NPD) is sceptical of the proposal to plug wells as a measure to keep drilling rigs in activity. More »

Noble and BG agree to partnership in Block 12, offshore Cyprus

Noble Energy, Inc., announced today a farm-out agreement for a portion of its interest in Block 12 offshore Cyprus with BG International. More »

Oil resumes fall as Saudi Arabia repeats readiness to cooperate

Oil fell after briefly climbing on Saudi Arabia’s repeated pledge to work with OPEC and other producers to stabilize global oil markets. More »

Oil bulls see little chance of help from OPEC as supply grows

Hedge funds are betting OPEC won’t do anything next month to keep crude oil above $40/bbl. More »

Norway offshore fleet faces more pain as 100 vessels stacked

The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are far from over, the industry’s top lobbyist said. More »

DNV GL conducts largest ever release of CO2 from an underwater pipeline

To fully understand the environmental and safety implications associated with the development of CO2 pipelines, DNV GL is conducting the oil and gas industry’s largest ever controlled release of carbon dioxide from an underwater pipeline. More »

Oil sands companies demonstrate leadership on climate change

Four of Canada's largest oil sands producers have come together to demonstrate leadership on climate change. More »

Oil declines as Venezuela sees mid-$20 crude on OPEC inaction

Oil extended its decline as Venezuela predicted prices may drop to as low as the mid-$20s/bbl unless OPEC takes action to stabilize the market. More »