Murphy Oil cutting jobs in every location as downturn deepens

Murphy Oil Corp. is joining U.S. producers in cutting jobs at home and abroad as a prolonged collapse in crude prices crimps cash flows. More »

Pacific instructed to suspend operations at Quifa Block in Colombia

Pacific Exploration and Production Corp. has announced that the company was formally notified of the Colombian Constitutional Court's decision instructing the company to suspend operations within two km of the border of an indigenous community known as "Vencedor Piriri," encompassing a portion of Quifa Block. More »

India is first Asian importer of U.S. shale gas

Gail India Ltd. bought the second shipment of liquefied natural gas from Cheniere Energy Inc.’s Sabine Pass plant in Louisiana in a deal that makes it the first Asian importer of U.S. shale gas. More »

Rig rout continues as drillers pull ten more oil rigs

The number of active oil rigs continued to fall this week as U.S. drillers pulled ten more rigs from the field, according to the latest data from Baker Hughes. More »

Weak commodity environment to drive MandA increase, survey finds

Brunswick Group, an advisory firm specializing in critical issues and corporate relations, has released the results of its 2nd Annual U.S. Oil and Gas MandA Survey. More »

OFS Portal’s Eastern Hemisphere director set to retire

OFS Portal has announced the retirement of Dave Wallis after more than 15 years with the company. Wallis will stay on until April 30, 2016, as he transitions his duties over to Chris Welsh, OFS Portal CEO. More »

Gazprom, OMV to swap upstream assets

Russia’s Gazprom PJSC, seeking to defend its share in the European energy market, agreed to swap upstream assets with OMV AG, the Austrian oil and gas company trying to lower production costs amid a slump in oil prices. More »

Statoil kicks off construction of Johan Sverdrup living quarters platform

Apprentice Jens Erik Eriksen in Kværner and Norway’s Minister of Petroleum and Energy, Tord Lien, marked the start of construction on the Johan Sverdrup utility and living quarters platform on the island of Stord, north of Stavanger, yesterday. More »

DCS wins contract to provide painting, blasting services in Gulf of Mexico

Dynamic Energy Services’ specialty craft division, Dynamic Construction Services (DCS), has been awarded a contract to provide maintenance blasting and painting services for a major oil and gas operator’s offshore Gulf of Mexico assets. More »

Saudi Arabia plans $2 trillion megafund to dwarf all its rivals

Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets. More »

PGS, TGS, Schlumberger to shoot survey offshore Malaysia

As a result of a new initiative by Petronas to stimulate offshore EandP investment activity, Petronas, through Malaysia Petroleum Management (MPM), has taken the decision to open an area of Malaysian offshore waters to the MultiClient model for the first time. More »

BP taking a bet on China's shale gas while Shell backs out

BP is seeking to hit it big in China’s shale gas fields where competitors including Royal Dutch Shell have struck out. More »

Juniper subsea trees arrive in Trinidad and Tobago, BP says

PORT OF SPAIN, Trinidad and Tobago -- BP Trinidad and Tobago (BPTT) said Thursday that all five subsea trees required for the Juniper project have arrived in Trinidad and Tobago. More »

Saudi Arabia to sell stake in parent of state oil giant by 2018

Saudi Arabia plans to sell a stake “of less than 5%” in the parent of its state-owned oil company, the kingdom’s deputy crown prince said, revealing details of a listing that could make it the world’s biggest publicly traded firm. More »

Saudi Arabia will only freeze oil production if Iran joins plan

Saudi Arabia will only freeze its oil output if Iran and other major producers do so, the kingdom’s deputy crown prince said, challenging the country’s main regional rival to take an active role in stabilizing the over-supplied global crude market. More »

MOL Group makes 11th hydrocarbon discovery in Pakistan

MOL Group has announced a new hydrocarbon discovery in the Karak block in Pakistan. More »

India open to U.S. imports in effort to diversify sources

India is open to buying crude from the world’s newest exporters, including the U.S., as it attempts to diversify its supply sources. More »

Sinopec to double natural gas output by 2020

China Petroleum and Chemical Corp., one of the country’s state-run energy giants, plans to ride a wave of new gas discoveries to double annual output to 40 Bcm by 2020, as the country pushes to replace coal with the cleaner fuel. More »

KCA Deutag retains North Sea drilling contracts for seven Statoil platforms

International drilling and engineering contractor KCA Deutag announced that it has retained the drilling contract for seven of Statoil’s platforms on the Norwegian Continental Shelf. More »

Statoil awards Archer two-year contract extension

Archer Limited announced a two-year extension of its contract for platform drilling services, as Statoil exercises the first option following the original four-year contract, with two additional two-year extension options remaining. More »

Chariot completes 3D seismic acquisition survey offshore Brazil

Chariot Oil and Gas Limited, the Atlantic margins-focused oil and gas exploration company, announced that it has completed the 3D seismic acquisition survey covering its 100% operated BAR-M-292, BAR-M-293, BAR-M-313 and BAR-M-314 licences in the Barreirinhas basin, offshore Brazil. More »

Subsea Center to deliver enhanced diver training courses

Subsea training facility, The Underwater Center, is helping to increase its students’ employability in the downturn by adding new modules to its commercial air diving courses, offering an enhanced. More »

BP and CNPC sign BP's first shale gas production sharing contract in China

BP and China National Petroleum Corporation (CNPC) today signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan basin, China. More »

Taqa cuts capital expenditure as oil-drop curbs revenue

Abu Dhabi National Energy Co., the government-controlled utility pumping crude and natural gas from Canada to the UK, said it’s cutting capital expenditure and planning to sell assets after low prices slashed oil and gas revenue by almost half. More »

RDT successfully transfers drill pipe manufacturing technology

RDT has successfully transferred drill pipe manufacturing technology in producing a new OCTG product line. More »

Saudi Aramco expanding oil and gas projects despite price rout

Saudi Arabian Oil Co. is pressing ahead with an expansion of the Khurais oil field despite lower crude prices and plans to double its production of natural gas over the next 10 years, the company’s CEO said. More »

$40 crude not the only problem facing Norway's oil industry

The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade. More »

McClendon’s former partner Tom Ward still regrets leaving Chesapeake

A decade since his departure from Chesapeake Energy Corp., Tom L. Ward said he still regrets breaking away from the company he founded with his friend Aubrey McClendon. More »

Conductor Installation Services names new managing director

Conductor Installation Services (CIS), an Acteon company that provides hammer services to install conductors and drive piles, announced that James Chadd has been appointed managing director. More »

Vallourec, ADNOC sign major OCTG supply contract

Vallourec has signed a contract with ADNOC to supply OCTG during the 2016-2018 period to its three operating companies (ADMA-OPCO, ADCO, ZADCO). More »

BP, Kuwait Petroleum sign cooperation agreement

BP and Kuwait Petroleum Corporation (KPC) have signed a framework agreement to explore possible joint opportunities for investment and cooperation in future oil, gas, trading and petrochemicals ventures. More »

Range Resources sells non-operated Marcellus assets in Bradford County, Pa.

Range Resources has completed the sale of its non-operated assets in Bradford County, Pennsylvania. More »

Oil trader who predicted slump sees bull run starting

Pierre Andurand, a hedge fund manager who predicted the oil collapse, said crude is starting a “multi-year bull run” because low prices have curbed supply. More »

Xodus Group delivers intelligent monitoring to Woodside

Xodus Group’s Intelligent Monitoring service is being used by Australian oil and gas company Woodside to create surveillance tools for its North West Shelf assets. More »

Chariot strikes Morocco farm out deal with Eni

Chariot Oil and Gas Limited has signed a farm-out agreement with a subsidiary of Eni, which will acquire operatorship and a 40% equity interest in return for a capped carry on drilling the JP-1 prospect, offshore Morocco. More »

Exxon climate science probe expands as New York gains allies

Massachusetts became the latest state investigating whether Exxon Mobil Corp. misled investors and the public about how climate change may affect its business. More »

Seadrill said to line up Houlihan, Morgan Stanley for debt talks

Seadrill Ltd., the offshore driller with the biggest debtload, hired Houlihan Lokey Inc. and Morgan Stanley to advise it in negotiations on restructuring $11 billion of loans and bonds, two people familiar with the matter said. More »

ABB to provide equipment and services for world's largest FLNG facility

ABB has won a five-year contract to deliver equipment and services for Shell’s Prelude FLNG, the world’s first floating liquefied natural gas (FLNG) facility, the largest floating facility ever built. More »

Delmar's DQR successfully installed on semisubmersible in GOM

The proprietary Delmar Quick Release (DQR) was successfully installed and activated on a traditionally moored semisubmersible MODU in the U.S. Gulf of Mexico. More »

WJM secures first contract for development of new support vessel

William Jacob Management Inc. (WJM) has secured its initial contract to complete the detailed engineering and design of its first mobile offshore support services vessel, the MOSS V. Northport Marine LLC will be the first client to receive delivery of the new concept vessel, scheduled for completion in Q1 2018. More »

Oil and Gas UK updates well integrity guidance

In line with its commitment to continually reviewing and improving the safety and performance of all aspects of well practices, Oil and Gas UK has published an update of its Well Life Cycle Integrity Guidelines. More »

Iran said to attend Doha talks without joining oil freeze

Iran will attend talks with fellow OPEC members and Russia in Qatar next month without joining their proposal to freeze crude oil production, according to a person familiar with the nation’s policy. More »

Adnoc open to additional onshore partners

Abu Dhabi National Oil Co. (Adnoc) is willing to accept additional partners at its main onshore fields, a senior company official said, almost a year after awarding less than half the production rights it offered for the deposits in a bidding round. More »

India's flagship oil explorer doubles down against low prices

India’s state-owned oil explorer won’t let low crude prices clip its wings. More »

SageRider West acquires Technical Wireline Services

SageRider West LLC (SRW), an oil and gas service company that focuses on reservoir monitoring solutions and fiber optic technologies, announces the acquisition of Technical Wireline Services (TWS). More »

Qatar Petroleum delivers 500th LNG cargo to the UK’s South Hook Terminal

Qatar Petroleum has announced the delivery of the 500th LNG cargo from QP affiliate Qatar Liquefied Gas Company to the South Hook LNG Terminal at Milford Haven, UK. More »

Bear Head LNG buys additional land as it expands proposed facility

Liquefied Natural Gas Limited’s wholly owned subsidiary, Bear Head LNG Corporation, Inc. has reached an agreement to purchase additional land from Nova Scotia Business Inc. (NSBI) to support expansion of its proposed LNG facility on the Strait of Canso in Richmond County, Nova Scotia. More »

Emerson launches latest version of its integrated reservoir engineering software suite

Emerson Process Management has launched Roxar Tempest 7.2, the latest version of its integrated reservoir engineering software suite that can be applied in a wide variety of scenarios, such as field appraisal, field optimization and brownfield development. More »

Emerson launches reservoir engineering software enhancements for improved field development decision-making

Emerson Process Management has launched Roxar Tempest 7.2, the latest version of its integrated reservoir engineering software suite that can be applied in a wide variety of scenarios, such as field appraisal, field optimization and brownfield development. More »

Oil at $45-$50 is a fair price for world's 4th-biggest buyer

Crude at $45 to $50 is enough to encourage India’s own exploration without squeezing fuel consumers, according to the oil minister of the world’s fourth-largest user. More »

AGR to provide consultancy manpower to Lundin Norway

AGR has been awarded a Frame Agreement with Lundin Norway for delivering consultancy services on- and offshore Norway. More »

Aker Solutions to provide global subsea engineering services to BP

Aker Solutions secured a global framework agreement to deliver engineering and project management services at BP-operated subsea oil and gas fields. More »

Oil drops a fourth day as U.S. stockpiles seen expanding glut

Oil declined for a fourth day before weekly U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades. More »

Harkand awarded TAQA inspection campaign in UKCS

Inspection, repair, maintenance (IRM) and light construction company Harkand has secured a scope of work with TAQA in the North Sea. More »

Total's supercomputer now the industry’s most powerful

Total's supercomputer Pangea recently boosted its computing power from 2.3 to 6.7 petaflops, the equivalent of more than 80,000 laptops combined. Its storage capacity has also been increased, to 26 petabytes—the equivalent of 6 million DVDs. More »

Oil trades near $39 amid doubts producer talks will curb glut

Oil traded near $39/bbl in New York amid speculation that a meeting of crude-producing countries next month won’t ease a global supply glut. More »

The death of oil demand has been greatly exaggerated: Credit Suisse

Even as U.S. oil production started to slide in the second half of 2015, the downside risks to oil prices continued to dominate. More »

China's fourth-largest oil producer said to cut pay, investment

Shaanxi Yanchang Petroleum Group, China’s fourth-biggest oil producer, is cutting investments and salaries because of the oil price crash, according to people with knowledge of the matter. More »

Subsea Innovation delivers 16-in. pipeline connectors to RasGas

Subsea Innovation has completed the design and manufacture of two 16-in. mechanical pipeline connectors for use by RasGas. More »

Keppel FELS delivers another two rigs to Mexico

Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine (Keppel OandM), has delivered two jackup rigs to Mexican company, Grupo R. More »

Leviathan gas partners say High Court ruling won't derail plans

Partners in Israel’s largest offshore gas field say a court ruling that blocked the government’s proposal to regulate the natural gas industry won’t derail their development plans. The nation’s oil and gas stock index sank. More »

Schlumberger-Cameron merger cleared by Chinese authorities

Schlumberger and Cameron have jointly announced that the Chinese Ministry of Commerce (MOFCOM) has cleared their proposed merger without any conditions. More »

China seen sustaining strong crude imports

China’s crude imports will rise further from a record this year to feed its expanding refining sector and strategic reserves, according to Standard Chartered Bank. More »

Israel's High Court strikes down government natural gas plan

Israel’s High Court struck down the government’s controversial proposal to regulate the natural gas industry, in a dramatic ruling that blocked plans to develop the country’s largest field and conclude export deals. More »