Hedge funds become U.S. gas bulls for first time since 2014

Hedge funds ended their record bearish streak on U.S. natural gas as an unusual spring cold snap stoked demand amid signs that output is slipping from an all-time high. More »

Oil rises most in two months on U.S. output drop, freeze talks

Oil climbed the most in almost two months as U.S. crude output continued to slide before a meeting between suppliers to discuss freezing production. More »

Gazprom Neft produces 100-millionth tonne of oil at Yuzhno-Priobskoye field in Russia

Gazpromneft-Khantos, a subsidiary of Gazprom Neft, has confirmed the production of the 100-millionth tonne of oil at its Yuzhno-Priobskoye field. More »

Tullow Oil faces delays at Jubilee field in Ghana

Tullow Oil issued the following operational update on Jubilee field in Ghana. More »

Nigeria may sell 40% of future state oil company within 10 years

Nigeria’s government may sell 40% of a new national oil company within 10 years of its creation, according to a draft law. More »

India becoming new center of oil demand growth

In the energy world, India is becoming the new China. More »

GE's oil business seen finding ‘missing piece’ with Baker Hughes

General Electric Co. could become one of the top players in the oil services and equipment industry if it decides to bid for Baker Hughes In More »

Oilex starts gas production from India’s Bhandut field

Oilex Ltd has commenced gas production from Bhandut field, onshore Gujarat, India. The Bhandut-3 well is currently flowing at the expected stabilized rate of 0.70 MMscfgd (120 boed) through an 8/64 in. choke, the company said. More »

Iran steps up offense in oil market war with price discount

Iran ratcheted up its offense in the oil market after breaking a pricing tradition, signaling it’s seeking to win market share at a time when rival producers are trying to forge a deal on freezing output. More »

Oil market ‘fooled’ by freeze talks seen better off gauging U.S.

Oil investors looking for signs of a sustained price recovery would do well to assess U.S. supplies rather than the banter between major producers on freezing output, according to Saxo Bank A/S. More »

Wood Group expands into process industry operations management systems with Ingenious acquisition

Wood Group has acquired Ingenious Inc., a supplier of proprietary software and consulting services to the oil and gas, chemical and energy industries, from its executive leadership team. More »

Oil and gas capital spending set for record drop in Canada

Canada’s oil and gas companies will slash investments by 35% in 2016, a record two-year decline that underscores a need for new pipelines, the industry’s main advocacy group says. More »

Drillers go rigless as price slump heralds austerity era

Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging. More »

NUTECH completes third phase of flow test at Horse Hill-1 discovery

NUTECH has announced that the third phase of the flow test for the major international oil discovery it identified in a report to UK Oil and Gas Investments (UKOG) has been completed. More »

Saudi Aramco share sale may raise $106 billion for wealth fund

Saudi Arabia’s sovereign wealth fund could receive $106 billion in cash from the sale of a 5% stake in oil giant Aramco’s parent company, according to the Sovereign Wealth Fund Institute. More »

Shell selects Materia’s thermal insulation system for Appomattox development

Materia, in conjunction with Aegion Corporation, has been selected by Shell Offshore, a wholly owned subsidiary of Royal Dutch Shell, to supply pipeline insulation materials for the Appomattox development in the deepwater Gulf of Mexico. More »

First reinjection well commissioned at Gazprom Neft’s Arctic field

Gazpromneft Shelf, a subsidiary of Gazprom Neft, has commissioned the first reinjection well at Prirazlomnoye field in the Barents Sea, on which it is leading development. More »

Collaboration is key for new wells decommissioning offering

Well management and performance improvement specialist Exceed has bolstered its decommissioning credentials through a strategic alliance with Weatherford. More »

MRC Global expands service to Chevron into the Gulf of Mexico

MRC Global (US) Inc., has been awarded a new maintenance, repair and operations (MRO) agreement to be a preferred supplier of pipe, valves and fittings (PVF) products and services to Chevron's operations in the Gulf of Mexico. More »

Cegal releases one dimensional stochastic inversion method

Cegal has announced the release of Blueback ODiSI—a one dimensional stochastic inversion method. The application produces high-quality images of reservoir property estimates and associated uncertainties. More »

Xodus wins framework agreement with National Grid Grain LNG

Xodus Group has been awarded a framework agreement for the provision of design and engineering technical services to the Grain LNG terminal, situated on the Isle of Grain, Kent, UK. More »

Keystone pipeline shuts and oversupplied U.S. market shrugs

This week’s shutdown of the Keystone oil pipeline has stopped up the route for roughly a quarter of the crude flowing into the U.S. Midwest. To which the oil market has essentially said: Eh. More »

Halliburton's executive pay shows forecasting oil price is hard

It seems not even the board of Halliburton Co. thought the price of oil would remain depressed this long. More »

Goldman says $35 oil is Goldilocks ideal for U.S. explorers

Oil at $35/bbl is neither too high nor too low but just right to make shares of U.S. explorers worth buying, according to Goldman Sachs Group Inc. More »

Oil surges as crude supply unexpectedly drops from 86-year high

Oil climbed after U.S. crude inventories unexpectedly dropped from the highest level in more than eight decades. More »

Halliburton, Baker Hughes to contest DOJ action to block acquisition

Halliburton and Baker Hughes today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. More »

Aminex reports first gas production from Kiliwani North in Tanzania

Aminex PLC, the Africa-focused oil and gas production and development company, has announced first gas production from its Kiliwani North gas field in Tanzania. More »

DOJ sues to stop Halliburton’s acquisition of Baker Hughes

The Department of Justice filed a civil antitrust lawsuit today seeking to block Halliburton’s proposed acquisition of Baker Hughes, alleging that the transaction threatens to eliminate competition, raise prices and reduce innovation in the oilfield services industry. More »

For Israel energy explorers, bad news may be good news

The latest bout of bad news for Israel’s natural gas extraction plans may turn out to be a boon for energy explorers. More »

China's shale gas reserves jump five-fold as output lags

China boosted its recoverable shale gas reserves more than five-fold last year as the country missed its production target for the fuel. More »

Study shows unmanned platforms may provide efficient development solutions

Rambøll Oil and Gas has submitted a study which sheds light on the advantages and disadvantages of unmanned wellhead platforms. More »

OMV successfully completes appraisal well in Barents Sea

OMV has successfully completed drilling and testing of the Wisting Central II appraisal well. More »

Freeport-McMoRan reveals new structure for oil and gas division

Freeport-McMoRan (FCX) has announced a new organizational structure for its subsidiary Freeport-McMoRan Oil and Gas (FM OandG). More »

API: Oil and natural gas exploratory drilling down in first quarter

Estimated natural gas well completions decreased 70% in the first quarter of 2016 compared to year-ago levels, according to API's 2016 Quarterly Well Completion Report, First Quarter. More »

Halliburton-Baker Hughes pain seen sparking other deals

If Halliburton Co.’s bid to buy Baker Hughes Inc. fails, it may spark a scramble for deals among beaten-down oil services firms. More »

Chevron halts production at $54-billion Gorgon LNG project

Chevron Corp. temporarily halted output at its $54-billion Gorgon LNG project in Australia due to mechanical problems just two weeks after making the first shipment to Japan. More »

Halliburton's dying bid shows antitrust cops pounding mega-deals

The corporate deal-making boom last year was one for the record books. The harder part: Winning the blessing of emboldened antitrust officials in the Obama administration’s last year. More »

Inpex sees $606 million in writedowns amid oil rout

Inpex Corp., Japan’s biggest oil and gas explorer, expects to book $606 million in impairment charges for the year just ended, following the collapse in oil and gas prices. More »

Norway to boost gas output as Russia, U.S. LNG supply increases

Norway will allow increased production from its biggest natural gas field as Europe’s second-largest supplier of the fuel prepares for increased competition with Russia and the U.S. More »

Sanjel sells pressure pumping assets to Liberty, STEP

Sanjel Corporation is selling two separate North American pressure pumping providers, the company said Monday. More »

Halliburton said to face U.S. lawsuit on Baker Hughes deal

WASHINGTON, D.C. (Bloomberg) -- U.S. antitrust officials have prepared a lawsuit to stop Halliburton Co. from taking over rival oil-services company Baker Hughes Inc., according to a person familiar with the matter. More »

Greene’s receives API Q2 certification for Louisiana operations center

Greene’s Energy Group, LLC, has received the American Petroleum Institute (API) Specification Q2 Certification—an advanced industry certification standard for service companies—for its flagship operations center in Lafayette, Louisiana. More »

Paradigm, Dassault Systèmes partner on predicting reservoir behavior

Paradigm has announced the availability of Reservoir Driven Production Risk Management (RD PRM), a combined software and services offering that integrates advanced rock, fluid and stress characterization to help users better understand how the reservoir changes with time. More »

Kinder Morgan awards IHI EandC contract for planned Georgia LNG export facility

Kinder Morgan and IHI EandC announced Tuesday that Kinder Morgan subsidiaries, Elba Liquefaction Company, L.L.C. and Southern LNG Company, L.L.C., awarded to IHI EandC a contract for the engineering, procurement, construction, commissioning and startup of Kinder Morgan's natural gas liquefaction project at Elba Island, near Savannah, Georgia. More »

Hoover Container Solutions announces changes to executive management team

Hoover Container Solutions has announced that Scott Meints has been appointed V.P. of service operations and Adolfo Aguilera is joining Hoover’s executive team as V.P. of manufacturing. More »

Producers can reach oil output freeze without Iran, Kuwait says

The Organization of Petroleum Exporting Countries and other major oil producing countries can reach an agreement for a production freeze, even if Iran doesn’t join the action meant to help shore up prices, according to Kuwait’s OPEC governor. More »

Canada's ever-shrinking oil industry braces for more job cuts

After almost two years of sinking oil prices and at least 40,000 job cuts, Canada’s petroleum industry still isn’t finished tackling its bloated operations. More »

Saudi Aramco reduces pricing for Arab Light crude to Asia buyers

Saudi Arabia, the world’s largest crude exporter, cut pricing for May sales of its Arab Light oil grade to Asia as producers get set to meet in Doha to discuss a proposed output freeze. More »

Tullow Oil awards North Sea decommissioning contract to Jee Ltd

Tullow Oil has awarded a contract to Jee Ltd, the subsea engineering and training firm, to investigate the most appropriate options for decommissioning their Thames area assets. More »

Wood Group boosts vibration, dynamics and noise engineering service with new acquisition

Wood Group has acquired SVT Engineering Consultants (SVT) based in Australia. This acquisition marks a significant step for Wood Group in providing a global vibration, dynamics and noise (VDN) engineering service line. More »

U.S.'s dim view of Halliburton, Baker Hughes deal revealed by ValueAct lawsuit

Halliburton Co.’s planned takeover of rival Baker Hughes Inc. threatens to undercut competition in the oil-services industry, the U.S. Justice Department said as it sued an activist hedge fund for buying stakes in both companies without properly notifying the government. More »

U.S. sues activist investment firm over Halliburton, Baker Hughes stakes

The Department of Justice (DOJ) has filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of California against certain ValueAct Capital entities for violating the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). More »

Oil falls to one-month low as Saudis link output freeze to Iran

Oil dropped to a one-month low after Saudi Arabia’s deputy crown prince said his country will freeze output only if Iran follows suit, putting in doubt the prospects of a proposed deal to freeze supply. More »

OneSubsea reports successful commission and startup of subsea boosting systems in the Gulf of Mexico

OneSubsea, a Schlumberger company, has announced the successful commission and startup of subsea boosting systems installed in ultra-deep waters, located in the Gulf of Mexico. More »

OneSubsea successfully installs subsea boosting systems in GoM

OneSubsea, a Schlumberger company, has announced the successful commission and startup of subsea boosting systems installed in ultra-deep waters, located in the Gulf of Mexico. More »

DNV GL wins Johan Sverdrup verification contract

Statoil has awarded contracts to DNV GL for verification of all four topsides, the three bridges, three of four jackets, topside installation by use of the Allseas single-lift vessel ‘Pioneering Spirit' and extended site assessment for the jackup. More »

BP to cut 500 jobs in Houston

BP is to layoff 500 workers in Houston as part of the company’s plans to scale back its upstream workforce. More »

Eni to see ‘negligible’ impact from halt of Italian oil field

The shutdown of Europe’s largest onshore oil field over alleged illicit waste disposal at a nearby treatment plant will probably only have a “negligible” effect on Eni SpA’s earnings because Italy often allows operations to resume during probes, said Giuseppe Rebuzzini, an analyst at Fidentiis Equities SV SA. More »

UK releases government-funded seismic data to industry

The UK’s Oil and Gas Authority has released almost 40,000 line km of new and legacy seismic data from the Rockall Trough and Mid-North Sea High areas acquired during last year’s government-funded seismic survey. More »

Aker Solutions' MMO unit to work with Kværner on Njord A upgrade

Aker Solutions' maintenance, modifications and operations (MMO) business in Norway will act as a subcontractor of Kværner to provide engineering services for upgrading the semisubmersible platform at the Statoil-operated Njord A oil field. More »

Bibby Offshore wins North Sea decommissioning contract

Bibby Offshore (BOUK) has secured a multi-million-dollar contract with a North Sea operator, to deliver decommissioning operations in the Northern North Sea East Shetland basin. More »

TAQA awards Wood Group North Sea contract extension

Wood Group has been awarded a two-year contract extending its service provision for TAQA in the North Sea. More »

Tullow extends halt at Jubilee, exports to resume April 9

Tullow Oil extended the suspension of oil and gas production at its flagship Jubilee field off Ghana and now expects exports to restart later this week. More »

Abu Dhabi's oil chief sees crude market balancing by end of 2017

Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co. More »

Russian oil output rises to record as freeze in doubt

Russia’s oil output set a post-Soviet high in March as the success of a proposed crude production freeze between OPEC members and other major producers appeared to be in doubt. More »