WPX Energy sells San Juan basin gathering system

WPX Energy has signed an agreement to sell its San Juan basin gathering system for a consideration of approximately $309 million to a portfolio company of ISQ Global Infrastructure Fund, a fund managed by I Squared Capital. More »

Worst year for rigs in quarter century closes with a whimper

Oil explorers shut down more rigs in U.S. fields to finish out the worst year for drilling cutbacks in almost three decades. More »

First U.S. oil export leaves port; marks end to 40-year ban

The first U.S. shipment of crude oil to an overseas buyer departed a Texas port on Thursday, just weeks after a 40-year ban on most such exports was lifted. More »

Subsea 7 awarded contract offshore Egypt

Subsea 7 has announced the award of a sizeable contract by Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of Taurus and Libra fields by BP, offshore Egypt. More »

Statoil reports fatality on COSL rig

Statoil and COSL have received confirmation from the police that one person has died as a result of a breaking wave that hit the COSL Innovator on Wednesday. More »

Cheniere starts producing at shale gas export terminal, ING says

Cheniere Energy Inc. began production at what will become the first terminal to export natural gas from America’s shale formations, according to ING Capital LLC, which helped finance the project. More »

RasGas, Petronet revise LNG contract to lower Indian gas prices

Qatar’s RasGas Co. has reached a new pricing agreement for an existing 25-year contract with Petronet LNG Ltd., India’s biggest gas importer that lowers the price of the fuel by almost half starting Jan. 1. More »

Oil poised for record two-year loss as U.S. stockpiles gain

Oil headed for its biggest two-year loss on record in New York as an expansion in U.S. crude stockpiles exacerbates a global glut. More »

Floods shutting Midwest oil pipeline seen worsening record glut

The worst flooding across the U.S. Midwest in four years has shut some oil pipelines and terminals near St. Louis, potentially swelling a glut of crude and extending this year’s price slide. More »

ConocoPhillips to export first U.S. shale oil as it beats rivals

On the heels of the U.S. government's recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nation's first export cargo of U.S.-produced light crude oil since the 40-year-old ban was lifted on Dec. 18. More »

ConocoPhillips to export first U.S. oil on Thursday as it beats rival

On the heels of the U.S. government's recent lifting of the federal ban on the export of crude oil produced in the U.S., NuStar Energy and ConocoPhillips said Wednesday that they are loading what they believe to be the nation's first export cargo of U.S.-produced light crude oil since the 40-year-old ban was lifted on Dec. 18. More »

Vermilion Energy reports first gas from Corrib project

Vermilion Energy said Wednesday that natural gas has started to flow at the company’s Corrib gas project in Ireland. Production levels at Corrib are expected to rise over a period of approximately six months to a peak rate estimated at 58 MMcfgd, net to Vermilion. More »

Gazprom Neft fracs high-temperature horizon in Serbia

Naftna Indusrija Srbije (NIS), a subsidiary of Gazprom Neft, has undertaken a series of hydraulic fracturing operations in high-temperature horizons at Kikinda Istok, Crna Bara jug and Vojvoda Stepa fields in northern Serbia. More »

Lundin drills duster at Ørnen prospect in Barents Sea

Lundin Norway has completed the drilling and evaluation of exploration well 7130/4-1 on the Ørnen prospect. The well is located in PL708, on the eastern parts of the Finnmark Platform in the southern Barents Sea. The well was dry and has been plugged and abandoned. More »

Canadian Oil Sands urges shareholders to reject Suncor bid

Canadian Oil Sands Ltd.’s board sent a letter to its shareholders Tuesday urging them once again to reject the hostile bid by Suncor Energy Inc. ahead of the offer’s deadline next week. More »

Russia may cut crude estimate in 2016 budget as prices plunge

Russia may cut its oil-price estimate for the 2016 budget next year, possibly following other crude-exporting nations as the commodity, which makes up about 40% of the country’s budget revenue, nears 11-year lows. More »

Lundin Petroleum drills duster at Ørnen exploration well in Barents Sea

Lundin Petroleum’s wholly owned subsidiary Lundin Norway has completed the drilling and evaluation of exploration well 7130/4-1 on the Ørnen prospect in the Barents Sea. The well was dry and has been plugged and abandoned. More »

Oil slides back toward $37 before U.S. crude inventory data

Oil resumed its decline toward $37/bbl before weekly U.S. crude inventory and production data. More »

Sound Energy inks Tendrara field management agreement with Schlumberger

Sound Energy has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (FMA) in relation the Tendrara license, onshore Morocco. More »

In world with too much crude oil, 1,100-foot steel monsters rule

The most destructive oil crash in a generation is giving ship owners a billion-dollar windfall. More »

Pemex growth dreams turn to asset sales, job cuts as debt mounts

Petroleos Mexicanos’s plans last year included JVs and higher oil production. For 2016, that’s turned into job cuts and asset sales as it tries to weather the worst downturn in a generation. More »

Chesapeake Energy on pace for 2015's weakest performance amid rout

Chesapeake Energy Corp. is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer from the deepest gas-market rout in 16 years. More »

Olinda Star semi‐submersible contracted for 2016 Santos basin appraisal

Karoon Gas Australia Ltd is pleased to announce that it has executed final agreements with members of the QGOG Constellation S.A. Group to contract the Olinda Star semi‐submersible drilling rig. More »

Kul-Bas exploration and production contract granted a two-year extension

Tethys Petroleum Limited today announced it has been granted a two-year extension to the Kul-Bas exploration and production contract in Kazakhstan. More »

Rosneft and Alltech in JV for gas business development in the Nenets Autonomous District

A company of the Rosneft group and a company of the Alltech group have finalized the creation of a joint venture (JV) for the scope of gas production and marketing projects’ development in the Nenets Autonomous District. More »

Rosneft and ONGC confirm successful cooperation for JSC Vankorneft, onshore Russian Federation

Rosneft and ONGC Videsh Ltd. have signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. More »

TAQA announces first oil from Cladhan field in North Sea

Abu Dhabi National Energy Company PJSC (TAQA), has announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform. More »

Sinopec plans to double fuling shale gas capacity by 2017

China Petrochemical Corp., China’s second- biggest oil and gas producer, plans to double annual shale gas production capacity at its Fuling project in southwest China in the next two years to 10 billion cubic meters. More »

Iran adding to global oil glut dims hopes for recovery next year

Investors are losing faith in an oil-price recovery next year as Iran prepares to add more crude to a global glut. That’s good news for American drivers who have enjoyed the lowest gasoline prices in six years. More »

Keppel OandM secures contracts worth $88 million from repeat customers

Keppel Offshore and Marine Ltd (Keppel OandM)'s local and overseas subsidiaries have won strong support from repeat customers by securing four contracts worth a total of about $88.57 million (S$125 million). More »

Saudi Arabia cuts dependence on oil amid slump in crude prices

Saudi Arabia, the world’s biggest crude exporter, continues to cut its dependence on oil revenue due to the slump in oil prices, even as the kingdom keeps boosting production to defend its market share. More »

PA Resources annouces organizational and management changes

As a result of the board’s decision announced on the Nov. 17 to sell all of PA Resources’ assets, it has decided to reduce the company’s corporate organization in order to reduce cost. More »

Transocean announces Shell's early termination of Polar Pioneer contract

Transocean Ltd. announced today that Shell has elected to terminate the contract for the harsh environment semisubmersible Polar Pioneer prior to its expiration in July 2017. More »

LUKOIL produces over 30 million tonnes of oil at Iraq's West Qurna-2

Cumulative production from Iraq’s West Qurna-2 field has exceeded 30 million tonnes of oil since its launch in March 2014, Lukoil, which operates the field, said in a statement. More »

Oil falls from three-week high as Iran says exports ‘priority’

Oil slid from the highest level in three weeks, snapping the longest run of gains since April, as Iran repeated its goal of boosting exports after sanctions on the country are lifted. More »

GLNG signs gas purchase agreement with AGL: Santos

The GLNG project participants have executed an agreement with AGL Energy Ltd. (AGL) for the purchase of 254 petajoules of gas for supply to the GLNG project, Santos, the project’s operator, has announced. More »

LUKOIL produces over 30 million tonnes of oil at West Qurna-2 oilfield in Iraq

Since its launch in March 2014, cumulative production of Iraq’s West Qurna-2 field, operated by PJSC LUKOIL, exceeded 30 million tonnes of oil. More »

Gazprom Neft acquires EandP licenses for Yamalo-Nenets Autonomous Okrug

Gazprom Neft has acquired a license for geological prospecting at the Zapadno-Yubileyny block, located in the Nadymsky district of the Yamalo-Nenets Autonomous Okrug. More »

Shale’s running out of survival tricks as OPEC ramps up pressure

In 2015, the fracking outfits that dot America’s oil-rich plains threw everything they had at $50/bbl crude. To cope with the 50% price plunge, they laid off thousands of roughnecks, focused their rigs on the biggest gushers only and used cutting-edge technology to squeeze all the oil they could out of every well. More »

Oil bankruptcies reach highest quarterly level since recession

Bankruptcies among oil and gas companies have reached quarterly levels last seen in the Great Recession, according to the Federal Reserve Bank of Dallas. More »

Nigerian gas plant explosion leaves at least eight people dead

An explosion at a gas plant in the southeastern Nigerian state of Anambra killed at least eight people on Thursday and left several injured, according to the state governor’s spokesman. More »

Oil caps biggest weekly gain in four months as U.S. supply drops

Oil in New York capped the biggest weekly gain in four months after U.S. crude inventories declined and drillers idled rigs. West Texas Intermediate futures rose 9.7% this week, the biggest gain since August. More »