U.S. reverses decades of oil-export limits with Obama’s backing

With the stroke of a pen, President Barack Obama on Friday ended 40 years of U.S. crude oil export limits by signing off on a repeal passed by Congress earlier in the day. More »

Libya's Eastern Oil Company to sign oil sales amid UN peace deal

The National Oil Corp. affiliated with the internationally recognized government in eastern Libya said it will sign agreements with six companies to sell the country’s crude oil after a peace deal was signed between rival factions in the divided country. More »

U.S. oil is too good, too pricey and too far for Asia buyers

In the world’s biggest oil market, buyers have better options than U.S. crude. More »

Obama poised to end U.S. oil-export limits after Congress votes

With the stroke of a pen, President Barack Obama will end 40 years of U.S. crude oil export limits when he signs off on a repeal passed by Congress Friday. More »

House votes to end U.S. oil-export limits, Senate vote next

The U.S. House of Representatives voted 316-113 to repeal the nation’s crude oil export limits, sending the measure to the Senate, which is expected to approve and send it to President Barack Obama for his signature later Friday. More »

BP expands in New Mexico with acquisition of Devon Energy’s assets

BP’s U.S. Lower 48 Onshore oil and natural gas business has significantly expanded its operations in the San Juan basin, which spans northern New Mexico and southern Colorado, by acquiring all of Devon Energy’s assets in the region. More »

Israel paves way for Noble to develop Leviathan, expand Tamar

Noble Energy was notified Thursday that the government of Israel acted to implement the Natural Gas Framework through execution of Section 52 of the Restrictive Trade Practices Act. Execution of Section 52 resolves and provides exemption from claims of the Anti-trust Authority with respect to the Leviathan joint venture partners' acquisition of petroleum rights in the underlying permits. More »

Baker Hughes introduces solution to avoid production interruptions

Baker Hughes has announced the commercial release of its CENesis PHASE multiphase encapsulated production solution, which helps operators avoid production interruptions in unconventional wells. More »

Faroe awards Brasse rig contract, resumes Enoch production

Faroe Petroleum has awarded a rig contract for the drilling of the Faroe-operated, Brasse exploration well in the Norwegian North Sea (Faroe 50%) and the recommencement of oil production from the Enoch field (Faroe 13.86%). More »

IHS: “Turning point” for oil sands costs and competitiveness

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. More »

HS: “Turning point” for oil sands costs and competitiveness

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. More »

LUKOIL opens new maintenance center for electric submersible pumps

LUKOIL has opened an OOO ‘LUKOIL EPU Service’ workshop for repairs and testing of electric submersible centrifugal pumps (ESP) in Nurlat, Republic of Tatarstan. More »

Aker Solutions, Saipem to cooperate on subsea projects

Aker Solutions and Saipem have agreed to cooperate on targeted subsea oil and gas development projects worldwide. More »

Lake Charles LNG project receives FERC approval: BG Group

The Lake Charles LNG export project has received approval from the U.S. Federal Energy Regulatory Commission (FERC) to construct and operate a natural gas liquefaction and export facility in Lake Charles, Louisiana, BG Group said Friday. More »

USGS doubles Barnett shale gas estimate on new study

The Barnett shale contains estimated mean volumes of 53 Tcf of shale natural gas, 172 MMbbl of shale oil and 176 MMbbl of natural gas liquids, according to an updated assessment by the U.S. Geological Survey (USGS). This estimate is for undiscovered, technically recoverable resources. More »

Polarcus receives LOI for 4D project offshore Denmark

Polarcus Limited has received a Letter of Intent (LOI) from Maersk Oil on behalf of the Danish Underground Consortium (DUC) for a 4D marine seismic survey offshore Denmark. More »

Saudi Aramco announces senior vice-president appointments

The Board of Directors of the Saudi Arabian Oil Company has made the following appointments, effective Jan. 1, 2016: Mohammed Y. Al Qahtani, Senior VP, Upstream; Ahmad A. Al Sa’adi, Senior VP, Technical Services; and, Muhammad M. Al Saggaf, Senior VP, Operations and Business Services. More »

Statoil submits $940-million PDO for North Sea project

Statoil and its partners has submitted a Plan for Development and Operation for Oseberg Vestflanken 2 in the North Sea. The new development will consist of an unmanned wellhead facility, which will both recover oil and gas from new deposits and improve the recovery rate from other producing deposits. More »

Statoil submits plan for $940 million North Sea oil project

Statoil ASA submitted a plan to the Norwegian government to develop and operate an 8.2 billion-krone ($940 million) project designed to squeeze more oil and gas out of the Oseberg area of the North Sea. More »

Faroe Petroleum awards Brasse rig contract and resumes Enoch production

Faroe Petroleum has awarded a rig contract for the drilling of the Faroe-operated, Brasse exploration well in the Norwegian North Sea (Faroe 50%) and the recommencement of oil production from the Enoch field (Faroe 13.86%). More »

“Turning Point” for oil sands costs and competitiveness: IHS

Following years of cost escalations that coincided with rapid production growth, oil sands costs are falling. However, their competitive position as a major source of global supply growth may still shift, a new IHS report says. More »

LUKOIL opens maintenance center for electric submersible pumps in Tatarstan

LUKOIL has opened an OOO ‘LUKOIL EPU Service’ workshop for repairs and testing of electric submersible centrifugal pumps (ESP) in Nurlat, Republic of Tatarstan. More »

U.S. oil output has first year-on-year drop since 2011, API says

U.S. crude production in November posted the first annual decline in almost five years as falling prices curbed investment. More »

Transocean reports early termination of ultra-deepwater drillship contract

Transocean announced Thursday that Statoil has elected to terminate the contract for the ultra-deepwater drillship Discoverer Americas. More »

Cameron shareholders vote in favor of Schlumberger merger

Cameron announced Thursday that its stockholders have overwhelmingly voted to adopt the merger agreement providing for the acquisition of Cameron by a wholly owned subsidiary of Schlumberger Ltd. More »

AlMansoori launches new vessel in Arabian Gulf

AlMansoori Specialized Engineering has announced the deployment of the first of two planned production testing and stimulation vessels in the Arabian Gulf. More »

Anadarko speeds up timetable for Heidelberg in Gulf of Mexico

Anadarko Petroleum is expecting first oil from its Heidelberg development early next year as the Gulf of Mexico project progresses ahead of schedule. More »

Pakistan Petroleum’s Hatim X-1 well strikes gas in Gambat South Block

Pakistan Petroleum Ltd. has announced another gas discovery at an exploration well in District Matiari, Sindh, Pakistan. More »

SBM Offshore completes $800-million financing of Turritella FPSO

SBM Offshore‘s joint venture, Turritella, has completed the project financing for the Turritella FPSO for a total of $800 million. Project financing was secured by a consortium of twelve international banks with an average cost of debt of 3.5% over the ten-year post-completion maturity. More »

UK offers explorers 159 onshore blocks in latest licensing round

The Oil and Gas Authority (OGA)—the UK’s oil and gas regulator—announced Thursday that 159 onshore blocks under the 14th Onshore Oil and Gas Licensing Round are being formally offered to successful applicants. These blocks will be incorporated into 93 onshore licenses. More »

BP awards KCA Deutag major contracts in Azerbaijan

KCA Deutag has been awarded two contracts with BP Exploration (Caspian Sea) Limited. These contracts have a combined value of approximately $360 million for the initial contract or $1 billion including all options. More »

Shell awards Wood Group FEED contract for Browse FLNG development

Wood Group has secured a front-end engineering and design (FEED) contract for the Woodside-operated proposed Browse floating liquefied natural gas (FLNG) development. More »

Wood Group starts $250-million CATS contract

Wood Group has commenced a new contract with CATS Management Limited, a wholly owned subsidiary of Antin Infrastructure Partners, to provide operating services for the Central Area Transmission System (also known as CATS) in the North Sea. More »

Algeria to boost 2016 oil output, offer rights amid global glut

Algeria’s state oil producer Sonatrach Group plans to raise crude output by 5% next year and offer energy-exploration rights to foreign companies by the end of March, steps that may add barrels to an oversupplied global market. More »

AnTech expands its Wellhead Outlet product range

AnTech Ltd. has launched three new products within its multi-million dollar Wellhead Outlet (WHO) range. More »

SBM Offshore completes $800 million financing of Turritella

SBM Offshore‘s JV, Turritella, has completed the project financing of FPSO Turritella for a total of $800 million. More »

Churchill Drilling Tools announces its Dubai expansion

Churchill Drilling Tools has announced the opening of its new Dubai office following international success and growing demand for its technologies. More »

Mayer Brown represents EE3 on sale of Niobrara shale oil assets to SandRidge Energy

Mayer Brown advised EE3, LLC on the sale of Niobrara shale oil assets in the North Park basin, Jackson County, Colorado to SandRidge Energy, Inc. for approximately $190 million in cash. More »

White House announces support for plan allowing oil exports

The White House announced its support for a deal reached by congressional leaders on a package of spending and tax legislation that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports. More »

Crude price no obstacle as Mexico sells all areas auctioned

The opening of Mexico’s oil industry is warming up after a slow start. More »

Weatherford lands world's heaviest casing string

Weatherford achieved a new world record by landing a 1,180-ton (2,360,700-lb) casing string at a total depth of 26,805 ft (8,170 m). The job was performed on a deepwater rig in the Gulf of Mexico this fall. More »

OPEC more threatened by Iran than U.S. oil exports

An end to the U.S.’s 40-year ban on oil exports is probably not what OPEC needs right now. Yet a resurgent Iran may present a greater threat as it prepares to dump a million bbl on the market next year. More »

Russian oil companies look to Americas to boost long-term positions: GlobalData

Key Russian oil companies have refocused on strengthening their international positions through the acquisition of EandP assets in geographies outside Russia, with countries in the Americas providing a number of potential partnerships in the long term, according to GlobalData. More »

CNPC, Mubadala Petroleum sign strategic cooperation agreement

CNPC and Mubadala Petroleum have signed a strategic cooperation agreement. More »

New oil spill response guides launched for UKCS

Four new guides have been added to an information ‘toolkit’ to help offshore oil and gas operators implement their response should there be an oil spill in the North Sea. More »

Polarcus starts multi-client project offshore Australia

Polarcus has announced the commencement of a new RightBAND multi-client project over the Vulcan Sub-basin, offshore the North West Shelf, Australia. More »

New Zealand awards nine permits in Taranaki basin

New Zealand’s Energy and Resources Minister Simon Bridges has announced the award of nine new oil and gas exploration permits for Block Offer 2015. More »

Wood Group awarded main contractor agreement with Statoil

Wood Group has been awarded a main contractor framework agreement worth approximately $400 million to deliver maintenance and modification services to four Statoil installations on the Norwegian Continental Shelf (NCS). More »

BP awards Amec Foster Wheeler contracts for Glen Lyon FPSO

Amec Foster Wheeler has been awarded three contracts by BP to provide services to the Glen Lyon FPSO vessel as part of the Quad 204 Project, located 175 km west of the Shetland Isles, UK. More »

Portal to share efficiency successes and challenges across UK oil and gas industry goes live, says Oil and Gas UK

Following last week’s signing of the Industry Behaviours Charter, the collective commitment to work effectively, efficiently and co-operatively, Oil and Gas UK’s Efficiency Task Force has launched the Rapid Efficiency Exchange (REE), another tool in the suite of mechanisms to help improve the industry’s performance. More »

Congress reaches fiscal deal that ends U.S. oil export ban

Congressional leaders agreed on a fiscal plan that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports, House Speaker Paul Ryan told fellow Republicans during a closed-door meeting Tuesday night. More »

First Subsea completes Heidelberg spar mooring for Anadarko Petroleum

First Subsea Ltd. has completed the installation of subsea mooring connectors for Anadarko Petroleum Corp's Heidelberg truss spar platform moored in 5,310 ft of water in field development in the Gulf of Mexico. More »

ESG Solutions acquires Spectraseis Inc.

ESG Solutions has recently acquired Spectraseis Inc., a company on the forefront of surface-based seismic technology in Hydraulic Fracture Monitoring and Induced Seismicity Monitoring (ISM). More »

Peak further invests in Aberdeen Technology Centre to support manufacture of new SIMULTRA range

Peak Well Systems has made a further investment in its Aberdeen Technology Centre in support of ongoing RandD and commercialization of its newly launched SIMULTRA range – a new generation of flow control products suitable for gas wells and other extremely challenging applications. More »

WandT Offshore makes deepwater discovery in Gulf of Mexico

WandT Offshore has made a significant discovery at the Ewing Banks 954 A-8 exploratory well in the deepwater Gulf of Mexico, the company said Tuesday. More »

Halliburton, Baker Hughes extend merger deadline to April

Halliburton and Baker Hughes said Tuesday that they expect their timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ) will expire without reaching a settlement or the DOJ initiating litigation at this time to block their pending transaction. More »

Oil rout to claim more victims after first Norway bankruptcy

The collapse of oil prices has claimed its first bankruptcy victim in Norway’s offshore industry, and analysts warn more may follow. More »

Shell bid aims to preserve U.S. drilling rights in Arctic

Royal Dutch Shell Plc is fighting to preserve U.S. drilling rights in Arctic waters three months after halting exploration indefinitely there because it failed to find meaningful oil or natural gas deposits. More »

SeaRobotics to manufacture Lockheed Martin's commercial deepwater AUV

Lockheed Martin selected SeaRobotics Corporation as the Original Equipment Manufacturer (OEM) for its Marlin Mk3 Autonomous Underwater Vehicle (AUV) designed for survey and inspection applications in depths up to 4,000 m. More »

Magnum Hunter files for Chapter 11 bankruptcy

More »

Oil in $20s a risk as Citigroup sees crude storage tanks fill up

U.S. oil prices may fall into the $20s if tanks used to store crude start to fill up before producers sufficiently curb output, Citigroup Inc. predicted. More »

API: SEC disclosure proposal a step back for international competitiveness

A proposed rule on disclosure requirements for America’s oil and natural gas industry released by the U.S. Securities and Exchange Commission could harm U.S. competitiveness while possibly weakening a decade-old effort to implement payment transparency programs worldwide, according to API. More »

Statoil awards framework agreements for maintenance and modifications

Statoil has awarded maintenance and modification agreements worth about $2.8 billion (NOK 24 billion) for the company’s installations on the Norwegian Continental Shelf (NCS) and for the onshore plants at Sture, Kollsnes, Kårstø and Melkøya. More »

ABB wins large order for Trans-Anatolian Natural Gas Pipeline

ABB has won a large contract for the 1,850-km Trans-Anatolian Natural Gas Pipeline (TANAP) to bring Azerbaijan’s natural gas directly to Europe. More »

New RP on thermoplastic composite pipes offers cost savings: DNV GL

The oil and gas industry invests billions annually in offshore pipelines and risers. DNV GL has launched a new recommended practice (RP) that allows operators to choose thermoplastic composite pipes instead of steel or traditional flexibles, enabling substantial cost reductions throughout the project lifecycle. More »

Gas is the best bridging fuel towards a low-carbon future, says DNV GL

The demand for energy is expected to increase by more than 50% by 2050. At the International Gas Union (IGU) Forum on Tuesday, DNV GL asserted that gas will play a major role in a safer, more sustainable energy supply, but called for the market to become more efficient. More »

New RP on thermoplastic composite pipes offers cost savings

The oil and gas industry invests billions annually in offshore pipelines and risers. DNV GL has launched a new recommended practice (RP) that allows operators to choose thermoplastic composite pipes instead of steel or traditional flexibles, enabling substantial cost reductions throughout the project lifecycle. More »

Seatronics collaborates with robotic systems manufacturer, Inuktun

Seatronics, an Acteon company, has announced a collaboration with Canadian-based manufacturer, Inuktun Services Ltd. More »

Bibby Offshore secures multi-million-dollar subsea project with BP

Bibby Offshore has been awarded a multi-million-dollar contract by BP to replace subsea infrastructure in the Central North Sea. More »

Technip wins subsea contract for Odd Job deepwater field in Gulf of Mexico

Technip has been awarded a lump-sum contract by Deep Gulf Energy II, LLC for the development of Odd Job field. More »

Polarcus wins new broadband 3D project

Polarcus has received a Letter of Intent (LOI) from an undisclosed client for a 3D marine seismic contract utilizing Polarcus' RightBAND technique for broadband data acquisition. More »

Statoil awards $2.78 billion worth framework agreements for maintenance and modifications

Statoil has awarded maintenance and modification agreements worth $2.78 billion (NOK 24 billion) for the company’s installations on the Norwegian continental shelf (NCS) and for the onshore plants at Sture, Kollsnes, Kårstø and Melkøya. More »

Oil trades near $36 as U.S. moves toward lifting of export ban

Oil held gains after rebounding from the lowest price since February 2009 as the U.S. Congress sought to advance on a deal to allow unfettered crude exports for the first time in 40 years. More »

U.S. oil narrows discount to Brent on signs export ban may end

U.S. oil narrowed its discount against the global benchmark to the least since January on signs the nation may allow unfettered crude exports for the first time in 40 years. More »

Tullow gains after successful well boosts oil potential in Kenya

Tullow Oil Plc gained after a successful well increased the potential size of oil resources the Africa- focused explorer has discovered in Kenya. More »

Weatherford introduces compact oil-base mud microimager

Weatherford International plc has announced the official launch of its Compact oil-base mud microimager (COI), a slim-profile tool that delivers fullbore, high-definition images in wells drilled with oil-, diesel- or synthetic-base muds. More »

House Democrats said to be open to lifting U.S. oil export ban

House Democrats are now open to lifting the 40-year-ban on U.S. crude-oil exports, negotiating with Republicans in hopes of extracting trade-offs in exchange for a top Republican priority, a Democratic leadership aide said Monday. More »

New partnership to train next generation of workers in Iraq

Stirling Group has partnered with the EU Iraq Energy Centre (EUIEC) to provide risk management training to the Iraqi oil and gas industry to help build a highly skilled and competent workforce. More »

Cheniere Energy names interim president as board replaces Charif Souki

Cheniere Energy—along with subsidiaries Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC—announced Sunday that its board of directors has appointed board member Neal A. Shear as interim president and CEO. The Cheniere board also appointed board member G. Andrea Botta as its chairman. More »

Cheniere Energy names interim president as it replaces Charif Souki

Cheniere Energy along with subsidiaries Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC has announced that its Board of Directors has appointed Board member Neal A. Shear as interim President and CEO, and the Cheniere Board has appointed Board member G. Andrea Botta as Chairman of its Board of Directors, effective immediately. More »

Petrofac’s collaborative approach secures contract extensions

Petrofac has been supporting the UK Continental Shelf (UKCS) for more than 20 years, working in collaboration with its customers to drive efficiencies and generate maximum value across their operations. More »

WTI falls below $35/bbl in New York for first time since 2009

Oil fell below $35/bbl in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. More »

Exxon Mobil starts Banyu Urip central processing facility in Indonesia

Exxon Mobil has started the onshore central processing facility at Banyu Urip field in Indonesia, helping increase production to more than 130,000 bopd. More »

Seismic surveyor Dolphin files for bankruptcy as oil woes spread

Dolphin Group ASA, a Norwegian seismic surveyor, filed for bankruptcy as the collapse in crude prices claimed another victim. More »

Shell to shed 2,800 jobs after takeover of BG Group

After the clearance from the Chinese Ministry of Commerce (MOFCOM) over Shell’s acquisition of UK’s BG Group, Shell is expecting to make cuts in the combined group workforce. More »

Shell to cut 2,800 roles globally after the BG merger

After the clearance from the Chinese Ministry of Commerce (MOFCOM) over Shell’s acquisition of UK’s BG Group, Shell is expecting to make cuts in the combined group workforce. More »

Halliburton’s bid for Baker Hughes in limbo as U.S. deadline looms

Halliburton Co.’s takeover bid for Baker Hughes Inc. has come down to the wire with the U.S. Justice Department, which may decide this week whether to approve the deal after months of negotiations. More »

Shell’s takeover of BG Group clears final antitrust hurdle

Royal Dutch Shell’s combination with BG Group has received unconditional merger clearance from the Chinese Ministry of Commerce (MOFCOM). Following previous approvals in Brazil, the EU and Australia, MOFCOM clearance marks the final pre-conditional approval required for the combination. More »

Oil falls below $35 in New York for first time since 2009

Oil fell below $35/bbl in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. More »

Cheniere Energy appoints Neal Shear as interim President and CEO and Andrea Botta as Chairman

Cheniere Energy along with subsidiaries Cheniere Energy Partners, L.P. and Cheniere Energy Partners LP Holdings, LLC has announced that its Board of Directors has appointed Board member Neal A. Shear as interim President and CEO, and the Cheniere Board has appointed Board member G. Andrea Botta as Chairman of its Board of Directors, effective immediately. More »

Wärtsilä develops inert gas solution for seventeen new LNG Carriers

Wärtsilä has received a contract from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea to supply combined inert gas generators and gas combustion units for 17 new LNG Carrier vessels under construction at the company's yards. More »

Bollinger Shipyards’ Brent Blackburn to be director of Engineering

Bollinger Shipyards has announced the promotion of Brent Blackburn to Director of Engineering. More »

Federal regulators following double standard on well cleanup, says Sen. Murkowski

U.S. Sen. Lisa Murkowski, R-Alaska, has accused the Obama administration of having a double standard in its regulation of oil and natural gas activity on federal lands. More »

Subsea compression innovator wins President’s Award by SUT

The Society for Underwater Technology (SUT) has presented its President’s Award to Dr Kjell Olav Stinessen in recognition of his long term services to industry at the Society’s AGM and annual dinner in London. More »