Goldman Sachs sees oil bull market being born in crash

Oil will turn into a new bull market before the year is out as the price rout shuts down sufficient production to erode the global glut, according to Goldman Sachs Group Inc. More »

Nexen responding to fatal explosion at Long Lake oil sands facility

Nexen Energy is responding to an incident at its Long Lake oil sands facility south of Fort McMurray, Alberta. More »

U.S. drillers park one oil rig as production continues climb

Explorers parked one more drilling rig in U.S. oil fields this week as producers strive to make good on a government forecast that daily production will fall by a million barrels in the next two years. More »

API launches new certification program for quality systems auditors

The American Petroleum Institute's Global Industry Services department (API Global) has established a new and comprehensive Auditor Certification Program, which is the first to be developed by industry experts. More »

Seadrill delays delivery of two ultra-deepwater drillships

Seadrill has reached an agreement with DSME shipyard to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019, respectively. More »

Goldman Sachs sees oil bull market being born in today’s crash

Oil will turn into a new bull market before the year is out as the price rout shuts down sufficient production to erode the global glut, according to Goldman Sachs Group Inc. More »

Aker Solutions to cut up to 900 positions from Norway MMO unit

Aker Solutions has notified employees in its maintenance, modifications and operations (MMO) unit across Norway of plans to reposition the business and enhance its competitiveness. More »

RasGas delivers first LNG to Petronet under new agreement

RasGas Company Ltd. has delivered the inaugural LNG cargo to Petronet LNG Ltd. under the new Sales and Purchase Agreement (SPA) signed on Dec. 31, 2015, between Petronet and Ras Laffan Liquefied Natural Gas Company Ltd. More »

Norway declares crisis in oil industry as devaluation continues

With oil dropping below $30/bbl, producers in western Europe’s biggest crude exporting nation are now considerably worse off than they were in the darkest hours of 2008. More »

BHP Billiton expects to book $4.9-billion writedown on U.S. shale assets

BHP Billiton has announced an expected impairment charge of approximately $4.9 billion post-tax (or approximately $7.2 billion pre-tax) against the carrying value of its Onshore U.S. assets. More »

Oil falls back below $30 with Brent discount biggest since 2010

Oil fell to a new 12-year low below $30/bbl in New York, while the discount on global benchmark Brent reached a five-year high as Iran moved closer to restoring exports. More »

BHP Billiton expects $7.2 billion pretax write-down of its onshore U.S. assetsc

BHP Billiton has announced an expected impairment charge of approximately $4.9 billion post-tax (or approximately $7.2 billion pre-tax) against the carrying value of its Onshore U.S. assets. More »

LQT Industries wins contracts from international drilling company

LQT Industries has been awarded multiple contracts to provide Fire and Safety services for a drilling company located in Asia. More »

RasGas delivers first cargo to Petronet under the new SPA

RasGas Company Limited has delivered the inaugural LNG cargo to Petronet LNG Limited. More »

Wärtsilä to provide maintenance and performance optimisation for Prosafe's new flotels

Wärtsilä has signed a long-term maintenance agreement with Prosafe, the owner and operator of semi-submersible accommodation vessels also known as flotels. More »

MR Solutions partners with Green Imaging to bring better rock core imaging solution to oil and gas sector

A new 3D magnetic resonance imaging (MRI) solution, the ImaCore 3017, is being introduced to the oil and gas sector for high resolution rock core imaging. MR Solutions, of Guildford, UK in partnership with Green Imaging Technologies, based in New Brunswick, Canada have combined technologies to bring a complete rock core imaging solution to the sector. More »

McClendon, YPF in $500-million Vaca Muerta venture

Aubrey McClendon, CEO of American Energy Partners, LP (AELP), and Miguel Galuccio, president and CEO of YPF, have signed initial agreements for the exploration and development of the Vaca Muerta formation in Argentina’s Neuquén basin. More »

PEMEX, Linde extend nitrogen contract for EOR at Cantarell, Ku Maloob Zaap

The Linde Group has signed a contract with Pemex Exploración y Producción (PEP), a subsidiary of PEMEX, to extend its supply of high-pressure, high-purity nitrogen to Pemex's oil reservoirs in the Gulf of Mexico through 2027. More »

Neptune wins Chevron diving contract

Neptune has been awarded a marine maintenance diving contract by Chevron Australia Pty Ltd under a recently awarded Master Services Agreement (MSA). More »

Crude at $10 already a reality for Canadian oil-sands miners

Think oil in the $20s is bad? In Canada they’d be happy to sell it for $10. More »

Cheniere delays first Sabine Pass LNG export to late February or March

Cheniere Energy Partners expects to export the first LNG commissioning cargo from its Sabine Pass liquefaction project in Cameron Parish, Louisiana, in late February or March. The first commissioning cargo was initially expected to occur by late January. More »

PEMEX, Linde extend nitrogen supply contract for EOR at Cantarell, Ku Maloob Zaap

The Linde Group has signed a contract with Pemex Exploración y Producción (PEP), a subsidiary of PEMEX, to extend its supply of high-pressure, high-purity nitrogen to Pemex's oil reservoirs in the Gulf of Mexico through 2027. More »

Cheniere expects to ship first LNG cargo in late February or March

Cheniere Energy Partners expects to export the first LNG commissioning cargo from its Sabine Pass liquefaction project in Cameron Parish, Louisiana, in late February or March. The first commissioning cargo was initially expected to occur by late January. More »

Cost reductions, efficiency key for future NCS developmets: NPD

Low oil prices have given rise to considerable challenges for the petroleum industry. More »

Toll of oil price slump mounts as 68 major projects delayed

Wood Mackenzie has updated its analysis published in July 2015 on the impact of continued low oil prices on upstream oil and gas projects. It concludes that in the last six months of 2015 an additional 22 major projects and 7 Bboe of commercial reserves have been deferred, on top of the 46 developments and 20 Bboe of reserves identified previously. More »

Iran’s post-sanctions oil surge likely to come in a half measure

Iran may only be able to deliver about half of the promised surge in crude output after sanctions are lifted as it struggles to revive idled fields, according to banks including UBS Group AG and Saxo Bank A/S. More »

Statoil boosts Sverdrup exposure as it buys stake in Lundin

Statoil has acquired a minority interest in Sweden’s Lundin Petroleum, a move which will increase the company's exposure to the giant Johan Sverdrup field. More »

Frames completes solar powered chemical injection systems for Kuwait Oil Company EPF-50

In partnership, Frames and aQuaintance have successfully completed the design and manufacturing of four solar powered chemical injection systems for the Kuwait Oil Company (KOC) Early Production Facility-50. More »

Dana Gas announces new senior management appointments

Dana Gas has announced various key senior management appointments. More »

Trican Well Service looks to sell U.S. pressure pumping business

Trican Well Service is in negotiations with Keane Group, a privately held, U.S.-based well completion services company, for the sale of Trican's U.S. pressure pumping business. More »

Delmar releases first Australian risk assessment software

Delmar is answering the call for better risk assessment software in Australia with the launch of ConStatAU. More »

Premier Oil to buy E.ON’s UK North Sea assets for $120 million

Premier Oil has agreed to acquire the whole of E.ON’s UK North Sea assets for a net consideration of $120 million plus working capital adjustments. More »

U.S., Australian LNG start-ups in 2016, but real LNG growth yet to come

Wood Mackenzie's latest review of the global LNG industry concludes that the market was characterized by weak Asian demand in 2015, with a year-on-year decline of 2%. More »

China sets oil price floor at $40 to protect domestic supply

China won’t let fuel prices fall in line with crude below $40/bbl as the world’s second-biggest oil consumer seeks to curb pollution and shield domestic producers from oil’s collapse. More »

Ashtead enhances remote communications with nCentric deal

Ashtead Technology is to provide fast, reliable and more cost-effective broadband communications between rigs and vessels and onshore facilities following a worldwide agreement with a leader in remote communications technology. More »

The Underwater Centre to deliver new ROV training course

The Underwater Centre, a subsea training and testing facility, has added the FMC Schilling TITAN 4 syllabus to its ROV training suite. More »

$20 oil no longer mirage as world confronts 12-year low

The world mostly ignored Ed Morse 11 months ago when the head of commodities research at Citigroup said oil could drop as low as $20. It’s paying attention now that crude has tipped below $30. More »

SBM Offshore wins FEED for Premier Oil Sea Lion FPSO

Premier Oil has awarded SBM Offshore the Front-End Engineering and Design (FEED) contract for an FPSO for Phase 1 of its Sea Lion development in the North Falkland basin. More »

ABS Group to develop intelligent maintenance strategy for Golar FLNG fleet

ABS Group subsidiary Genesis Technology Solutions, Inc. has been awarded a contract by Golar LNG to develop an intelligent maintenance strategy for the company’s new fleet of floating LNG (FLNG) vessels utilizing the GoFLNG floating liquefaction technology. More »

Idle tugboats eager to steer LNG tankers to Sabine Pass terminal

Just off the coast of Louisiana right now, the Energy Atlantic is waiting to collect an historic cargo: the first exports from America’s shale gas revolution. More »

Crude falls below $30 for first time in 12 years

Oil dropped below $30/bbl in New York for the first time in 12 years on concern that turmoil in China’s markets will curb fuel demand. More »

Halliburton, Baker Hughes respond to European Commission action

Halliburton and Baker Hughes today noted the decision by the European Commission to initiate a Phase II review of Halliburton’s pending acquisition of Baker Hughes. More »

Maersk Oil awards Peterson five-year integrated logistics contract

International energy logistics provider Peterson has secured a long-term logistics contract with Maersk Oil. The five-year deal enables greater focus on delivering sustainable cost saving concepts and systems. More »

Fugro investigation across Australia’s North West Shelf supports jackup campaign

Fugro’s Seafloor Drill 2 (SFD2) has completed a challenging multi-site investigation across the North West Shelf of Australia, encountering variable calcareous sediments and delivering results to support a jack-up drilling campaign. More »

Fugro investigation across Australia’s North West Shelf supports jackup campaign

Fugro’s Seafloor Drill 2 (SFD2) has completed a challenging multi-site investigation across the North West Shelf of Australia, encountering variable calcareous sediments and delivering results to support a jack-up drilling campaign. More »

CIS Group completes operation in southern North Sea

Conductor Installation Services (CIS), an Acteon company that provides hammer services to install conductors and drive piles, has completed its second conductor installation operation during the last 12 months for a leading North Sea oil and gas operator. More »

Greene’s receives patent for closed gas buster separation system, method

Greene’s Energy Group has been awarded a United States patent for its Closed Loop Separator, a step change in safety and solids handling for the oil and gas industry. More »

OPEC may meet soon as oil even hurting Saudis, Nigeria says

OPEC will soon make efforts to convene before the next scheduled meeting in June as the slump in oil prices is hurting producers, including the world’s biggest exporter, Saudi Arabia, said Emmanuel Kachikwu, Nigeria’s minister of state for petroleum resources. More »

Enerplus to sell certain Canadian natural gas assets

Enerplus Corporation has entered into agreements to sell various Canadian natural gas properties located in Alberta. More »

BP plans to cut a further 4,000 jobs as crude-oil slump deepens

BP Plc will cut 4,000 jobs in its crude-oil production division this year as prices continue to tumble. More »

Gazprom Neft commissions first bilateral well in Arctic conditions

Gazprom Neft has finished drilling the first bilateral production well—with horizontal shafts of 1,000 m—on the Yamal Peninsula. More »

Yarudeyskoye oil field reaches full production capacity: NOVATEK

Yarudeyskoye oil field has reached its planned production capacity of 9,700 tons of crude oil per day, which is equivalent to approximately 3.5 million tons per annum, NOVATEK said Tuesday. More »

Shale patch about to lose oil output equivalent to OPEC member

Oil bulls suffering with the lowest prices since 2003 got a glimmer of hope as the government said the U.S. shale patch will lose as much output as an OPEC member. Unfortunately, it’s one of the small ones. More »

McDermott appoints Murray as V.P., Treasurer and Investor Relations

McDermott International has appointed Kathy Murray as V.P., Treasurer and Investor Relations. Ms. Murray adds the role of Investor Relations to her current duties as Treasurer. More »

Zahroof Valves launches ZVI Unloader Valve

Zahroof Valves Inc. (ZVI) has launched its newest product: the ZVI unloader valve. More »

Greene’s Energy Group receives patent for closed gas buster separation system and method

Greene’s Energy Group has been awarded a United States patent for its Closed Loop Separator, a step change in safety and solids handling for the oil and gas industry. More »

Enerplus announces sale of certain Canadian Natural Gas assets

Enerplus Corporation has entered into agreements to sell various Canadian natural gas properties located in Alberta. More »

Well Control School receives IWCF accreditation for drilling course

Well Control School (WCS) announced today that it received accreditation from International Well Control Forum (IWCF) for its System 21 e‐Learning Drilling course. More »

Technip enters strategic pipeline welding partnership with Vallourec subsidiary

Technip and Serimax, a subsidiary of Vallourec, have signed an agreement in principle in order to achieve a strategic partnership in the domain of pipeline welding. In this respect, Technip, a long-lasting customer of Serimax, would acquire a minority stake in Serimax. More »

Crude tumbles to 12-year low as hedge funds head for exit

Crude declined to a 12-year low, confirming the view of hedge funds that cut bullish price bets to the lowest since 2010. More »

Tesoro Corp. buys logistical assets in Williston basin

Tesoro Corp. has closed its acquisition of Great Northern Midstream LLC, a crude oil logistics provider. More »

Suncor seen needing to raise Canadian Oil Sands bid after rebuff

Suncor Energy Inc. will probably need to sweeten its bid for Canadian Oil Sands Ltd. after failing to convince enough shareholders to accept a C$4.03-billion ($2.84-billion) offer that management repeatedly rejected for undervaluing the company. More »

Eni starts production at Mpungi field, offshore Angola

Eni has started production from Mpungi field, in the West Hub Development Project, within Block 15/06 of the Angolan Deep Offshore, approximately 350 km northwest of Luanda, Angola, and 130 km west of Soyo. More »

ConocoPhillips exports first cargo from Australia Pacific LNG

The first cargo of LNG has departed from the Australia Pacific LNG (APLNG) facility on Curtis Island in Queensland, Australia, ConocoPhillips said Monday. More »

Protea supplies three cranes for Martin Linge field FSO

Protea has recently completed the manufacture of a comprehensive crane package for an FSO that will be chartered by Total EandP Norge for operation at the Martin Linge offshore development. More »

iSURVEY awarded multi-year contract with Nexans

iSURVEY AS, Norway, has been awarded a multi-year frame agreement with Nexans Norway to provide navigation, positioning and survey support for its cable lay operations on board the C/S Nexans Skagerrak. More »

Poland mulls oil-and-gas merger push to avoid hostile takeovers

Poland’s government is considering merging the nation’s biggest oil and gas companies PKN Orlen SA, Grupa Lotos SA and PGNiG SA, three stalwarts of the Warsaw bourse. More »

Oil seen heading to $20 by Morgan Stanley on dollar strength

A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20/bbl, according to Morgan Stanley. More »

Eni brings Angola’s Mpungi field online

Eni has started production from the Mpungi field in the West Hub Development Project, within Block 15/06 of the Angolan Deep Offshore, approximately 350 km northwest of Luanda and 130 km west of Soyo. More »

Premier Oil discovers oil in Isobel Deep offshore Falkland

Premier oil has announced the Isobel Deep re-drill (well 14/20-2) has successfully confirmed the oil discovery encountered in the original Isobel Deep well. More »

Australian oil and gas supermajor awards second contract to Asset Guardian Solutions

Asset Guardian Solutions Ltd (AGSL), which specializes in protecting companies’ process control software assets has landed another contract to support an oil and gas supermajor in Perth, Western Australia. More »

Trelleborg Sealing Solutions unveils dedicated swivel stack seal inspection facility

Trelleborg Sealing Solutions has opened a dedicated climate-controlled swivel stack seal inspection facility for the validation of bespoke seals. More »

Peak appoints Neil Poxon as Global Business Development Director

Peak Well Systems has appointed Neil Poxon as Global Business Development Director, effective immediately. More »