Saudi prince says he could add a million barrels immediately

Saudi Arabia could raise crude production by more than a million barrels a day immediately, said the kingdom’s Deputy Crown Prince, as he reiterated the nation would only agree to freeze production if all major producers including Iran do the same. More »

DeepOcean Ghana wins three-year contract with Tullow

DeepOcean Ghana has been awarded a three-year contract with options for two additional years, to provide a light construction vessel to Tullow Ghana. More »

New drone technology will enhance energy infrastructure safety: API

The American Petroleum Institute has applauded the Senate passage of Federal Aviation Administration Reauthorization and, in particular, a provision in the legislation that would allow unmanned aircraft system utilization for oil and gas facilities, refineries, and pipeline inspection and response activities. More »

Goodrich Petroleum files for Chapter 11 for restructuring

Goodrich Petroleum Corp. filed for Chapter 11 in a U.S. bankruptcy court to implement a financial reorganization after struggling to restructure its debt amid declining energy prices. More »

PGS, EMGS settle patent disputes

Electromagnetic Geoservices (EMGS) and Petroleum Geo-Services (PGS) have entered into a Settlement Agreement to settle the two companies' patent disputes. More »

Petrobras, Aker Solutions signs subsea services contract

Aker Solutions has secured an agreement to provide maintenance and other services for subsea facilities at Petrobras-operated oil and gas fields offshore Brazil. More »

BIW Connector Systems introduces seven-contact wellhead outlet for downhole equipment

ITT Corporation’s BIW Connector Systems brand has launched a seven-contact wellhead outlet to connect safely and reliably to monitoring equipment in oil and gas production wells. More »

Schlumberger, Packers Plus enter into global alliance

Schlumberger and Packers Plus have entered into a global alliance, enabling the two oilfield service companies to become channel partners in key markets around the world. More »

Oil producers head for Doha counting $315 billion cost of slump

The world’s top oil exporters are burning through their petrodollar assets at an accelerating pace, increasing the pressure to reach a deal to freeze production to bolster prices. More »

Oil freeze: Everything you need to know about the Doha summit

Nations representing about half the world’s crude production will gather in Doha on April 17 to discuss freezing their output at January levels in an effort to stabilize prices. Russia, Saudi Arabia, Qatar and Venezuela already made a preliminary deal in February and are seeking to add more producers and extend the current price recovery. More »

BP investors reject CEO's 20% pay increase amid oil industry slump

BP Plc shareholders voted in protest at the company’s decision to award CEO Bob Dudley a 20% pay increase after the company reported a record net loss and announced thousands of job cuts following oil’s slump. More »

IPAA: Obama's offshore rule reduces safety, hurts energy production

The Obama Administration’s final offshore well control rule could reduce offshore worker safety and hurt future U.S. offshore energy development, according to Dan Naatz, senior V.P. of government relations and political affairs for the Independent Petroleum Association of America (IPAA). More »

Interior Department, BSEE release final well control regulations

Final well control regulations to reduce the risk of an offshore oil or gas blowout have been released by U.S. Secretary of the Interior Sally Jewell and Director of the Bureau of Safety and Environmental Enforcement Brian Salerno. More »

EMGS to cut 15% of workforce in reorganization

Electromagnetic Geoservices (EMGS) is to make several changes to reduce the company's cost base and increase efficiency in line with the level of expected activity, the company said in a statement Thursday. More »

Qatar's oil-freeze letter to Norway reveals Doha deal logic

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Capital investment in Canada's oil and gas industry down 62% in 2 years: CAPP

Capital spending in Canada’s oil and natural gas sector is forecast to decline $50 billion, or 62%, since 2014, the largest two-year decline since the Canadian Association of Petroleum Producers (CAPP) and its predecessor organizations started tracking this data in 1947. More »

Eni selects Landmark geosciences technology as its exploration standard

Eni has expanded the adoption of Halliburton Landmark’s DecisionSpace Geosciences across its exploration business units worldwide. More »

Iraqi crude output continues to grow, but at a slower pace from 2017: Rystad

Iraqi crude oil production for 2015 was approximately 3.9 MMbpd, up 12% from 2014, according to analysis from Rystad Energy. More »

Energy XXI files for bankruptcy after $5-billion expansion

Energy XXI Ltd., a U.S. oil and gas explorer, filed for bankruptcy protection after spending $5 billion on acquisitions in the years leading up to the crude slump. More »

Bibby Offshore wins first Norwegian contract

Bibby Offshore’s Norway division, Bibby Offshore AS, has secured its first contract in the region with ConocoPhillips Skandinavia. More »

Exxon says ‘$25 billion rule’ will sink deepwater drilling

The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many offshore discoveries worthless. More »

IEA sees oil oversupply almost gone in second half on shale drop

Global oil markets will “move close to balance” in the second half of the year as lower prices take their toll on production outside OPEC, the International Energy Agency said. More »

Crude trades near $42 as U.S. output slips to lowest since 2014

Oil declines eased after a government report showed U.S. crude production fell to the lowest level since October 2014. More »

Weatherford RFID drilling tools save Sakhalin Island operator two days of rig time

In late February, Weatherford completed a drilling and reaming project near Sakhalin Island, Russia, that resulted in a total of 52 hours in rig time saved. More »

Statoil awards contracts for removal, disposal and recycling of Huldra platform

Hereema Marine Contractors Nederland SE will remove Statoil’s Huldra platform and transport it to shore, while AF Offshore Decom AS has been awarded the contract for disposal and recycling of the platform. More »

Statoil in oil discovery southwest of North Sea’s Oseberg South field

Statoil Petroleum, operator of production license 035/272, is in the process of completing the drilling of wildcat wells 30/11-11 S and 30/11-11 A. More »

Premier reports first oil from Solan field

Premier Oil achieved first oil from Solan field on Tuesday, the London-based company said. More »

Total, KOGAS extend cooperation on LNG

Total has signed a memorandum of understanding with Korea Gas Corporation (KOGAS) during the LNG 18 conference in Perth, Australia, to reinforce mutual cooperation to explore opportunities throughout the LNG value chain. More »

Wood Group Intetech launches enhanced corrosion software

Wood Group Intetech (WGI), an asset integrity specialist serving the global energy industry, is launching a new version of its ECE software in response to client demand. More »

Oil can top $50 with production freeze deal, Bank of America says

Oil prices can climb above $50/bbl if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp. More »

Schlumberger to pare Venezuela services on lack of payments

Schlumberger Ltd. will reduce activity in Venezuela after the world’s largest oil services provider failed to collect enough payments from the national oil company. More »

OPEC warns of deeper cuts to oil demand forecast on slowdown

OPEC said it may deepen cuts to its forecast for global oil demand growth due to slowing economic expansion in emerging markets, warmer weather and the removal of fuel subsidies. More »

DOF wins new contracts in North Sea

A DOF Group subsidiary has signed two separate contracts with operators in the North Sea. More »

Antelope adds to CentraMax series with Centralizer Subs

Antelope Oil Tool has developed the CentraMax RT1 (rotating), PI1 (push-in) and PT1 (pull-through) Centralizer Subs, adding to the CentraMax product line. More »

FracFocus celebrates fifth anniversary

Five years ago, the Ground Water Protection Council and Interstate Oil and Gas Compact Commission partnered with a vision to provide the public a one-stop site to access information on chemicals used in hydraulic fracturing operations by location. More »

Baker Hughes introduces model-based, predictive analytics software

Baker Hughes has announced the commercial release of its FieldPulse model-based, predictive analytics software, which enables operators to proactively optimize production across entire fields by giving them clear understanding of an asset’s performance in real time. More »

Oil producers risk severe impact on prices if freeze deal fails

The early success of an oil supply accord between OPEC and Russia in reviving crude prices is magnifying the potential costs of failure if producers meeting this weekend fail to complete their deal. More »

AccessESP names Algeroy as Europe and Africa Region Manager

AccessESP, a provider of rigless ESP conveyance solutions, has named John Algeroy as the Europe and Africa Region Manager. Based in Houston, he will be responsible for all marketing, sales and operations for clients throughout the region. More »

ConocoPhillips awards Archer five-year contract

ConocoPhillips has awarded Archer a five-year contract for the provision of mechanical wireline services for the Norwegian Continental Shelf. More »

Proserv seals Statoil contract for Gullfaks field

Proserv has been awarded a multi-million dollar contract with Statoil for the provision of production control equipment in Norway. More »

Kuwait Energy signs Export Oil Sales Agreement for Iraq’s Block 9

Kuwait Energy has signed an Export Oil Sales Agreement for Iraq’s Block 9. More »

Woodside, KOGAS extend LNG partnership

Woodside and Korea Gas Corporation (KOGAS) have signed a Memorandum of Understanding (MoU) for cooperation, extending the existing partnership between the companies. More »

Shell, Chevron await demand from LNG market in ‘pause mode’

The over-supplied LNG market is in hiatus as energy giants from Chevron Corp. to Royal Dutch Shell Plc and Woodside Petroleum Corp. await a surge of demand from countries seeking access to energy. More »

Woodside charters Australia's first LNG-powered support vessel

Woodside has signed a five-year charter contract with Norwegian company Siem Offshore Australia Pty Ltd—an agreement that delivers Australia its first LNG-powered marine support vessel in 2017. More »

Enerplus sells assets in northwest Alberta

Enerplus Corporation has entered into a definitive agreement to sell certain non-core assets located in northwest Alberta, including its Pouce Coupe asset. More »

Marathon Oil sells $950 million of non-core assets

Marathon Oil Corporation has signed agreements for the sale of certain non-core assets for $950 million, bringing the total to approximately $1.3 billion since last year. More »

Oil rises to four-month high as U.S. shale production slides

Oil climbed to a four-month high in London as forecasts for lower U.S. shale production signaled the global oversupply will slowly diminish. More »

Kuwait targets oil output at 43-year high as freeze talks loom

Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to the highest level in more than four decades. More »

Katalyst expands subsurface data management service

Katalyst Data Management is pleased to announce that they have expanded their subsurface data management service to include interpretation project data management for the oil and gas industry. More »

Gas Processors Association renamed GPA Midstream Association

Executive leadership of the Gas Processors Association (GPA) announced during the general session of its 95th annual convention that it has officially changed its name to GPA Midstream Association. More »

Borets introduces new permanent magnet motor

Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has introduced its newly developed 4.06-in. high speed, permanent magnet motor (PMM) to its comprehensive line of PMM technologies, targeting smaller casing size applications. More »

GE begins production of flexible risers for Shell's Prelude

GE Oil and Gas has started production of four HPHT dynamic flexible risers destined for the world’s largest floating liquefied natural gas (FLNG) facility, Prelude, to be operated by Shell, located 250 km off the coast of Western Australia. More »

Ashtead expands service offering through acquisition led growth

Buckthorn Partners and the Arab Petroleum Investments Corp. (APICORP) have acquired Ashtead Technology, an independent provider of subsea equipment and services to the offshore oil and gas industry. More »

Hydratight expands market coverage to MENAC

Joint integrity specialist Hydratight has expanded its market coverage after parent company Actuant Corp. completed a $60 million deal to acquire the Middle East, North Africa and Caspian (MENAC) division of privately owned Canadian firm FourQuest Energy. More »

LNG backers face comatose market as oil shows signs of life

As oil markets look for the green shoots of a price recovery, LNG participants are hunkering down for a long winter. More »

Rosneft surpasses Gazprom as Russia's most valuable company

Rosneft OJSC became Russia’s most valuable company as its market capitalization exceeded that of natural gas exporter Gazprom PJSC for the first time since its shares began trading in 2006. More »

Chesapeake pledges assets to preserve $4 billion bank line

Chesapeake Energy Corp., the shale gas producer that’s been selling fields and buying back debt to cope with plunging fuel prices, pledged additional assets as collateral to maintain access to a $4 billion line of credit. The shares jumped almost 7%. More »

Veolia awarded contract by Dolphin Energy for gas facilities in Qatar

Veolia, through its subsidiary Veolia Water Technologies, has been awarded a contract by Qatar Engineering and Construction Company to engineer, procure and deliver a wastewater treatment plant for Dolphin Energy's natural gas production and processing facilities in Ras Laffan, Qatar. More »

WPX Energy completes sale of Piceance subsidiary for $910 million

WPX Energy announced that it has completed the sale of its wholly owned subsidiary WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million, subject to closing adjustments. More »

LWP reports positive results from fly-ash test at Brisbane pilot plant

Oil and Gas technology company, LWP Technologies Limited, is pleased to report very positive results from the ongoing fly-ash test work being undertaken at the Company’s Brisbane-based pilot plant. More »

Reports of oil rally's death premature as inventories decline

NEW YORK (Bloomberg) -- Hedge funds betting that oil’s rally was over missed an 11% gain after U.S. crude inventories unexpectedly fell. More »