Congress eyes tax break for oil refiners in exchange for crude oil exports

Lawmakers in Washington are pushing a tax break for oil refiners as part of a compromise allowing unfettered crude-oil exports for the first time in 40 years. More »

Exxon names refining boss as heir apparent to CEO Rex Tillerson

Exxon Mobil has promoted Darren Woods to president, putting him on a path to succeed Chairman and Chief Executive Officer Rex Tillerson as leader of the world’s largest energy producer by market value. More »

EIA: Mexican crude shipments to Europe and Asia are rising as U.S. imports fall

In September 2015, monthly U.S. crude oil imports from Mexico totaled 0.6 MMbpd, the lowest level since 1990, and a decrease of about 50% since January 2011. More »

U.S. rig rout deepens as drillers idle 21 oil-directed rigs

The decline in the weekly rig count continued this week as drillers in the U.S. cut 21 oil-directed rigs, according to the latest data from Baker Hughes. More »

Australia Pacific LNG starts production at Curtis Island, Origin says

Australia Pacific LNG has started production of liquefied natural gas at its Curtis Island facility, joint venture partner Origin Energy said Friday. Australia Pacific LNG remains on track to export its first cargo by the end of the year, the company said. More »

Paul Danos named to NOIA board

GRAY, Louisiana – Paul Danos, executive V.P. of Danos, has been chosen to serve on the board of directors for the National Ocean Industries Association (NOIA). More »

Danos’ Amelia yard earns ISO 9001:2008 certification

Danos’ Amelia, La.-based fabrication facility has achieved ISO 9001:2008 certification for its quality management system (QMS), the company announced. Two of Danos’ other locations—the Larose fabrication shop and headquarters in Gray, La. —are already ISO 9001:2008 certified. More »

Petrobras tries American-shale boys’ tack to survive oil crisis

The head of Brazil’s troubled oil giant is carving a path through the worst oil rout in a generation that would look familiar to producers throughout the U.S. shale patch: focus on the core. More »

Australia Pacific LNG starts production of liquefied natural gas

More »

Statoil, Repsol announce series of deals in U.S., UK, Norway, Brazil

STAVANGER, Norway -- Statoil announced a series of transactions with Repsol on Friday as the Stavanger-based company seeks to increase the number of operatorships it holds in priority areas. More »

Woodside gets approval for $2-billion North West Shelf project

Woodside, as operator of the North West Shelf (NWS) project, said Friday that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) project off the north-west coast of Australia. More »

Oil traders aren’t dancing the crude contango this time around

Back when the global recession trashed oil demand and prices, the likes of BP Plc and Vitol Group found a novel way to profit: They stashed crude on tankers. With a slump of similar magnitude now, traders are seldom finding the same opportunities. More »

Oil and Gas UK Board inks Industry Behaviours Charter

Oil and Gas UK’s Efficiency Task Force (ETF) launched the Industry Behaviours Charter at the trade association’s Annual General Meeting and Joint Council. More »

IEA sees oil glut lasting to late 2016 as OPEC keeps pumping

The global oil surplus will persist at least until late 2016 as demand growth slows and OPEC shows “renewed determination” to maximize output, according to the International Energy Agency. More »

Oil falls to lowest since 2008 as OPEC seen fueling supply glut

Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to effectively scrap production targets will keep the market oversupplied. More »

Total brings Congo’s Moho Phase 1b project online

Total has brought on stream the Moho Phase 1b project, located 75 km off the coast of Pointe-Noire in the Republic of the Congo. More »

Byron secures multi-well farm out deal with Otto on GoM properties

Byron Energy Ltd.’s wholly owned subsidiary, Byron Energy Inc has entered into a binding participation agreement (PA) with Otto Energy (Louisiana). More »

North West Shelf Project approves development of GWF-2 Project, says Woodside

Woodside, as operator of the North West Shelf (NWS) Project, advises that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia. More »

Industry Behaviours Charter signed by Oil and Gas UK Board

Oil and Gas UK’s Efficiency Task Force (ETF) launched the Industry Behaviours Charter at the trade association’s Annual General Meeting and Joint Council. More »

Oil giants pledge deeper spending cuts amid prolonged slump

Some of the biggest oil explorers in the Western Hemisphere are cutting budgets yet again to conserve cash as a plunge in energy markets shows no signs of abating. More »

Rampant pipeline theft fails to deter Mexico onshore oil bidders

Five incidents of pipeline theft a day, a rate that’s almost doubled in the last two years, isn’t fazing potential bidders seeking to produce oil from onshore fields in five Mexican states. More »

Cenovus to cut capital spending by 19%

Cenovus Energy expects to invest between C$1.4 billion and C$1.6 billion in 2016. While allowing for the planned completion of well-advanced oil sands growth projects in 2016, the budget represents a 19% decrease in capital spending compared with total forecast spending for 2015. More »

Statoil names Johan Sverdrup pipeline contract winners

Statoil has, on behalf of the Johan Sverdrup partners, awarded contracts for the linepipe, coating and pipe installation of the Johan Sverdrup export pipelines. More »

Glen Lyon FPSO sets sail for west of Shetland, BP says

BP, on behalf of the Schiehallion co-venturers Shell and OMV, announced Thursday that the new Glen Lyon FPSO vessel has started sea trials as it begins its journey towards the west of Shetland, where it will serve as the hub for the 450 MMbbl Quad204 development in the North Sea. More »

Chevron cuts 2016 budget by a quarter to $26.6 billion

Chevron Corporation has announced a $26.6 billion capital and exploratory investment program for 2016. The 2016 budget, which includes $4.5 billion of planned expenditures by affiliates, is 24% lower than total expected investments for 2015. More »

Texas economy to return to potential in 2017 after staving off recession, bank economists say

Shifts in global growth fundamentals such as the strengthening of the U.S. dollar and repressed oil prices may have weakened the outlook for Texas, but the economy is still expected to grow 1.9% in 2015 before returning to its full potential in 2017, BBVA Compass economists say in their latest report. More »

ConocoPhillips cuts 2016 budget 25% to $7.7 billion

ConocoPhillips unveiled a significantly reduced budget for 2016 on Thursday. The company has set its 2016 capital budget at $7.7 billion, which represents a 55% reduction from 2014 and a 25% reduction as compared with expected 2015 capital spending. More »

OPEC says crude production rose to three-year high in November

OPEC raised crude output to the highest in more than three years as it pressed on with a strategy to protect market share and pressure competing producers. More »

Subsea training facility prepares for new diving regulation deadline

Subsea training facility, The Underwater Centre, is preparing for changes to the prerequisite requirements for experienced commercial air divers, which will come into play in April 2016. More »

Xodus’ international vibration contract wins worth millions

Xodus Group has won a clutch of international vibration contracts bringing the total value for this year to about $7.5 million (£5 million). More »

Wintershall in oil discovery near North Sea’s Vega Sør field

Wintershall Norge, operator of production license 248, is in the process of completing the drilling of wildcat well 35/11-18 and appraisal well 35/11-18 A. More »

Centrica’s exploration costs fall amid oil, gas price slump

Centrica Plc, the biggest energy supplier to U.K. homes, said it expects an annual reduction in costs at its exploration and production business as oil and gas prices slumped. More »

Crude edges higher from six-year low after U.S. stockpiles drop

Oil edged higher from the lowest close in more than six years as investors weighed the significance of the first decline in U.S. inventories in 11 weeks. More »

Crude edges higher from six-year low after U.S. stockpiles drop

Oil edged higher from the lowest close in more than six years as investors weighed the significance of the first decline in U.S. inventories in 11 weeks. More »

Technip denies merger talks after reports of FMC discussions

Technip SA said it’s not in merger talks after Bloomberg and Reuters reported that Europe’s largest oilfield-services provider was discussing a potential tie-up with U.S. peer FMC Technologies Inc. More »

WellDog launches new carbon services division

WellDog has established a new carbon services division that is dedicated to applying the company's suite of award winning, cost-effective downhole products and services to ensuring carbon dioxide can be sequestered safely and efficiently in geological formations. More »

Texas economy to return to potential in 2017 after staving off recession: BBVA Compass economists

Shifts in global growth fundamentals such as the strengthening of the U.S. dollar and repressed oil prices may have weakened the outlook for Texas, but the economy is still expected to grow 1.9% in 2015 before returning to its full potential in 2017, BBVA Compass economists say in their latest report. More »

As Congress considers crude exports, democrats name their price

Democrats in Congress are putting a high price on lifting the 40-year-old U.S. ban on crude oil exports. More »

Technip, FMC Technologies said to be in advanced merger talks

Technip SA, Europe’s largest oilfield-services provider, is in talks to merge with U.S. peer FMC Technologies Inc., people familiar with the matter said. More »

CME Group announces record WTI futures and options trading volume

CME Group, the world’s leading and most diverse derivatives marketplace, today announced it reached a trading volume record for combined NYMEX WTI futures and options yesterday, December 8, of 1,841,295 contracts compared to the previous record of 1,772,232 contracts on August 31, 2015. More »

The Canary Islands may be the new Aberdeen of the Mid-Atlantic

The Canary Islands is working to further position itself as the most competitive alternative to operate in West Africa, especially in a context of crisis due to low oil prices. More »

OIS appoints Colin Shellard as new managing director in Aberdeen

Offshore Installation Services (OIS), an Acteon company, has named Colin Shellard as its new managing director. More »

GE said to be in advanced talks for Halliburton drilling assets

General Electric Co. is in advanced talks to buy the drill-bits and drilling-services divisions of Halliburton Co., which is divesting assets to win antitrust approval for its takeover of Baker Hughes Inc., according to people familiar with the matter. More »

General Electric said to be among bidders for Halliburton assets

General Electric Co. is bidding for two of the businesses that Halliburton Co. is selling to win regulatory approval of its $35-billion takeover of rival Baker Hughes Inc., people with knowledge of the matter said. More »

BSEE to launch pilot risk-based inspection program for offshore facilities

In an effort to improve its focus on offshore oil and gas facilities that exhibit a number of distinguishing risk factors, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) is launching a pilot risk-based inspection program. More »

BP ups stake in West Nile Delta project, offshore Egypt

BP Egypt has completed the acquisition of an additional 22.75% interest in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. More »

Sixty-eight percent of South Carolina voters support offshore drilling: Poll

Sixty-eight percent of South Carolina voters support offshore development of U.S. oil and natural gas resources. More »

Future supply security at risk as oil service capacity continues to be cut: Rystad

While the global market is currently oversupplied with crude, Rystad Energy believes this could be turned upside down over the next few years. More »

PetroChina, Sinopec shale gas output said to be below China’s goal

China is on track to miss its shale gas production target for this year as its biggest producers throttle back output amid weakening demand growth and a collapse in energy prices. More »

Wood Group wins second Browse FLNG contract

PERTH, Australia -- Wood Group has secured its second front-end engineering design (FEED) contract for the proposed Browse floating liquefied natural gas (FLNG) Development offshore Western Australia. More »

Swire Oilfield Services appoints new general manager for Australasia

Swire Oilfield Services, the world’s largest supplier of offshore cargo carrying units, has announced the appointment of Teresa Soanes as general manager for Australasia. More »

BP buys additional interest in West Nile Delta project, offshore Egypt

BP Egypt has completed the acquisition of an additional 22.75% interest in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel AG. More »

Statoil seeks Tanzanian clarification on impact of new oil law

Statoil ASA is seeking clarification on Tanzania’s new petroleum law and wants to learn how it will affect companies like itself already operating in the nation, local commercial manager Oivind Holm Karlsen said. More »

Sixty-eight percent of South Carolina voters support offshore drilling for oil and natural gas resources, says Harris Poll

Sixty-eight percent of South Carolina voters support offshore development of U.S. oil and natural gas resources. More »

Tesoro to acquire strategic logistics assets in Bakken

Tesoro Corporation has agreed to acquire Great Northern Midstream LLC, a crude oil logistics provider which owns and operates high-quality, recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in the Williston basin of North Dakota. 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 over a subsea gas well conductor in the “Kitchen Lights Unit # 3” area in Alaska's Cook Inlet. More »

Kinder Morgan cuts dividend by 74% to conserve cash

Kinder Morgan Inc., the biggest North American oil pipeline operator, cut its 2016 dividend by 74% as the free-fall in crude markets reduced cash flow needed to cover payments on $41 billion of debt. More »

Canada's oil industry swoons again with crude below $40/bbl

For Canada’s oil industry, the bad news won’t stop. More »

Wood Group secures new ConocoPhillips contract in Timor-Leste and Australia

Wood Group has won a new, multi-year contract with ConocoPhillips in Australia. More »

Year of distress for debt-burdened oil firms just got even worse

Just when it seemed things couldn’t get worse for debt-laden energy companies, a renewed rout in oil prices is deepening their distress. More »

NorSea Group wins Wild Well contract

NorSea Group (UK) Ltd has won a five-year contract with Wild Well Control for the storage of its emergency response WellCONTAINED System at NorSea Group’s facilities in South Base, Montrose. More »

China exports decline for fifth month, import slump moderates

China’s exports fell for a fifth month while a slump in imports moderated, as policy makers seek to spur domestic spending amid tepid global demand. More »

Eni CEO says oil doubling $200 billion of cuts risks imbalance

The global oil industry is set to repeat this year’s $200 billion of investment cuts in 2016, raising even more concerns than the current slump in crude prices, according to the CEO of Italy’s Eni SpA. More »

Air Energi to supply contractor workforce for Qatar Petroleum's Bul Hanine project

Air Energi, the global workforce solutions provider for the energy, process and infrastructure sectors, has secured a major deal to supply contract personnel to Qatar Petroleum. More »

Kemira acquires Polymer Services, LLC

Kemira has acquired certain assets of Polymer Services, LLC, a privately owned company, headquartered in Plainville, Kansas. More »

McDermott wins sizeable award for offshore development in Trinidad

McDermott International, Inc., today announced it has been awarded a sizeable transport and installation contract by an upstream oil and gas operator for a project offshore Trinidad, West Indies. More »

Wood Group secures new ConocoPhillips contract Timor-Leste and Australia

Wood Group has won a new, multi-year contract with ConocoPhillips in Australia. More »

PDi bags $2.25 million worth contract in Nigeria

Project Development International (PDi) has secured a $2.25 million (£1.5 million) contract with Nigerian oil service company Marine Platforms Limited (MPL), to provide technical support to the Chevron Agbami Phase 3 transport, installation and pre-commissioning project. More »

Long term vision and resilience can overcome short term uncertainty, says RasGas

Despite some recent turbulence, the global business environment for liquefied natural gas (LNG) remains strong, and a continuous growth in demand is expected for years to come, said Khalid Sultan R. Al Kuwari, Chief Marketing and Shipping Officer of RasGas Company Limited at the CWC 16th World LNG Summit, Rome, Italy. More »

OSD develops new Riserless Light Well Intervention/IMR vessels for Austin Offshore

OSD-IMT is designing two 120 m IMT9120 Riserless Light Well Intervention/IMR vessels for Austin Offshore Pte Ltd, the shipping arm of Upstream Drilling Pte Ltd, Singapore. More »

Tracerco to provide smart tracer technology for new wells in Statoil’s Mariner field

Tracerco, part of FTSE100 firm Johnson Matthey Plc, has landed a contract to provide smart tracer technology for flow measurement of six new wells in Statoil’s Maureen reservoir of the Mariner field in the UK North Sea. More »

Ensco appoints Carey Lowe as new COO; Mark Burns retires

Ensco has announced that Carey Lowe has been named as the new chief operating officer. He is based in London and succeeds Mark Burns, who is retiring from the company. More »

Stacked Maersk jackup to be refurbished for accommodation contract

Maersk Drilling has been awarded a contract with Maersk Oil for the jackup rig Maersk Guardian for accommodation on various fields in the Danish part of the North Sea. More »

Oil holds losses near 6-year low after OPEC abandons target

Oil held losses near the lowest level in more than six years on speculation a global glut will be prolonged after OPEC effectively abandoned its strategy of limiting output to control prices. More »

Woodside abandons $8-billion takeover bid for Oil Search

Woodside Petroleum has withdrawn its proposal to take over Oil Search Ltd. nearly three months after the bid was rejected. More »

Kerui Group becomes first Chinese exporter of nitrogen generator for U.S.

Kerui Group recently shipped its single skid-mounted 1,200Nm3/h membrane nitrogen generator for the U.S after a week-long evaluation by the client, making it China's first membrane separation nitrogen generation system for oil stimulation to be exported to U.S. More »

Costly methane regulations unnecessary: IPAA, AXPC

Independent Petroleum Association of America (IPAA) and American Exploration and Petroleum Council (AXPC) submitted formal comments last Friday to the U.S. Environmental Protection Agency (EPA) regarding its proposal for additional methane regulations on oil and natural gas wells. More »

TAM International strengthens management team

TAM International, an independent oilfield services company providing inflatable and swellable packers, has announced strategic changes in its U.S., Latin American, and global leadership roles. More »

Husky Energy continues Flemish Pass appraisal, secures rig

Husky Energy and its partner continue to advance appraisal work on the landmark Bay du Nord oil discovery offshore Newfoundland and Labrador, the company announced Monday. More »

RGU announces key Oil and Gas Institute appointments

Robert Gordon University (RGU) has announced two key appointments to its Oil and Gas Institute (OGI). More »

Douglas Westwood acquired by ESIA

Energy Software Intelligence Analytics (ESIA) has completed the acquisition of Douglas Westwood. The acquisition represents ESIA’s next step in delivering a growth strategy for the company that includes a mix of new product development and acquisitions. More »

Lundin Petroleum spuds Imbok exploration well, offshore Malaysia

Lundin Malaysia has started drilling the Imbok-1 exploration well in Blocks SB307 and SB308, offshore East Malaysia. More »

Devon Energy to buy acreage in Anadarko, Power River basins

Devon Energy has agreed to acquire 80,000 net surface acres, with up to 10 prospective zones, in the Anadarko basin STACK play from privately held Felix Energy, a portfolio company of EnCap Investments, for $1.9 billion. More »

OPEC unshackled from quota could add millions of barrels in 2016

OPEC’s new free-for-all production stance could lift the lid on millions of barrels of additional crude supply next year. More »

KrisEnergy kicks off Sakti exploration well in East Java Sea

KrisEnergy Ltd. has commenced drilling of the Mustika-1 exploration well in the KrisEnergy-operated Sakti production sharing contract (PSC). More »

SocGen says buy oil now as OPEC must cut output to stop bleeding

Now’s the time to buy oil as OPEC members suffering swollen fiscal deficits will be prompted to curb output, according to Societe Generale SA, which predicts a price rebound next year. More »

OPEC's divisions keep oil low and volatile: Mohamed A. El-Erian

The failure of the Organization of Petroleum Exporting Countries to reach any meaningful agreement at their meeting in Vienna on Friday confirmed that the historic storm besetting the oil market has markedly reduced this once- powerful group's effectiveness and influence. More »

Oil extends decline below $40 as OPEC abandons production target

Oil extended losses below $40/bbl amid speculation a record global glut will be prolonged as OPEC abandoned its long-time strategy of limiting production to control prices. More »

Harkand strengthens its position in West Africa with three-year award in Angola

Harkand and its local consortium partner TOS Angola Lda has secured a three-year contract to deliver inspection, repair and maintenance (IRM) services in Angola for a major international oil company operating in the West Africa region. More »

Ziebel celebrates milestone with 100th Z-ROD® intervention

Ziebel has completed its 100th Z-Rod® distributed fiber optic sensing job. More »

Egypt to Freeze Israeli gas import talks after $1.7 billion arbitration court fine

The Egyptian Government ordered its oil and gas arms to freeze talks on importing Israeli natural gas after an international arbitration court ordered the Arab world’s most populous nation to pay a fine of almost $1.73 B to Israel. More »

Indonesia returns to OPEC as an oil consuming nation

With the International Energy Agency predicting that Indonesia will import 40% of its oil needs by 2018, OPEC is getting a consumer in their midst. More »

Azeri oil worker dies, 30 missing after rig fire: SOCAR

An oil worker died and 30 were missing in Azerbaijan after an offshore platform caught fire, the State Oil Co. of Azerbaijan said in a statement. More »