Nigerian oil output plunges to 20-year low as attacks mount

Nigeria is suffering a worsening bout of oil disruption that has pushed production to the lowest in 20 years, as attacks against facilities in the energy-rich, but impoverished nation increase in number and audacity. More »

U.S. oil rig count falls for seventh straight week

The number of active oil rigs in the U.S. fell for the seventh week in a row, according to data released Friday by Baker Hughes. More »

Halliburton joins Schlumberger in cutting Venezuelan activity

Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis. More »

Chevron names new head of Australia business

Chevron Australia said Thursday that Nigel Hearne, deputy managing director of Chevron Australia and its Australasia Business Unit (ABU), will become managing director of the ABU on June 1, 2016. More »

Occidental's new CEO says company's transformation shifts gears

After three years of spin-offs and asset sales from Brazil to California, Occidental Petroleum Corp. is ready to start growing again, said CEO Vicki Hollub. More »

GE sees oil, software MandA opportunities as move to Boston nears

General Electric Co. is hunting for acquisitions in the beleaguered oil and gas industry, after missing an opportunity to buy assets when the merger between Halliburton Co. and Baker Hughes Inc. was scuttled. More »

Africa offshore drilling at six-year low as explorers curb quest

U.S. explorers aren’t the only ones idling rigs as sub-$50 crude forces oil and gas drillers in Africa to slow their search for new reserves. More »

Weatherford falls most ever as investors doubt growth plans

Weatherford International is having its worst day ever, losing a quarter of its value as investors doubt its goal of generating about $3 billion of free cash flow by the end of 2020. More »

Borets adds Seimens’ VFD system to its downhole PMM product line

Borets has added Siemens’ SINAMICS Perfect Harmony GH180 medium voltage VFD system (MV VFDS) into its family of low-voltage drive systems (LV VFDS) with step-up transformers and filter, which includes the AXIOM II, that provide the automation and control required for most active reservoirs. More »

McDermott wins three offshore EPCI projects in Arabian Gulf

McDermott International has been awarded three separate projects by a major national oil company for integrated engineering, procurement, construction and installation (EPCI) services in multiple fields in the Arabian Gulf. More »

LNG buyers dreading 2040 try to renegotiate amid supply glut

For LNG buyers, 2040 is beginning to feel even further away. More »

Oil market at crossroads as big rally masks risks lurking ahead

If the oil market needed a theme song for now, it might turn to the one where Taylor Swift nervously sings: “Are we out of the woods yet?” More »

OTC 2016 draws over 68,000 attendees

Offshore energy industry experts and leaders gathered in Houston this week for the 2016 Offshore Technology Conference (OTC). More than 68,000 attendees from 120 countries visited the annual conference, placing 2016’s OTC among the top 15 highest attended in its 48-year history. More »

Oil rises amid Canadian wildfires, U.S. output drop

Oil rose for a second day as wildfires in Canada cut oil-sands production and U.S. output declined the most in eight months. More »

Anadarko said to shop assets in Wyoming, East Texas and Louisiana

Anadarko Petroleum Corp., the third-largest U.S. gas producer, is in the process of selling assets in Wyoming, East Texas and Louisiana as part of its plan to raise $3 billion, people with knowledge of the matter said. More »

OTC '16: Attendance ranks in Top 15

More than 68,000 attendees from 120 countries gathered at the annual conference, placing 2016’s OTC among the top 15 highest attended in its 48-year history. More »

Chesapeake Energy jumps as shale gas auction accelerates

Chesapeake Energy Corp. surged after the shale gas explorer signed a deal to sell Oklahoma drilling rights to Newfield Exploration Co. for $470 million. More »

SKF improves sealing for wellheads

The need to drill deeper for oil, with a corresponding increase in pressures and temperatures, makes working in an already harsh environment even more challenging. More »

Genscape launches daily price assessment for Bakken crude at Beaver Lodge, ND

Genscape has launched a daily price assessment for Bakken crude located in the most evolved trading hub in North Dakota. The Beaver Lodge hub is situated between wellhead production and pipeline and rail transportation access from the Williston basin. More »

NCS Multistage awarded patents for multistage completion technology

NCS Multistage has announced that four patents have recently been issued by authorities in the U.S., Canada, and Ukraine covering proprietary design features utilized in the company's downhole completion tools and proprietary methods. More »

Shah Deniz partners award subsea installation contract

The Shah Deniz consortium has awarded a $1.5-billion contract for the transport and installation of the deeper water subsea production systems for Shah Deniz stage 2 to the BOS Shelf LLC, Saipem Contracting Netherlands B.V. and Star Gulf FZCO consortium. More »

Wood Group wins contract across Shell’s North Sea assets

Wood Group has been awarded a three-year contract extending its support of Shell’s eight UKCS offshore assets. More »

Wildfire cuts Canadian oil output as 80,000 flee expanding blaze

A fire fueled by shifting winds that forced more than 80,000 people to flee their homes and disrupted oil-sands operations in Western Canada is poised to expand. More »

Oil gains second day as U.S. production slides most in 8 months

NEW YORK (Bloomberg) -- Oil advanced a second day after data showed that U.S. production fell the most in eight months. More »

Iran ready for action with OPEC once it restores earlier output

Iran said it’s ready for joint action with members of the Organization of Petroleum Exporting Countries once it regains the market share it had before sanctions were imposed. More »

Petrobras to sell Argentina, Chile assets for $1.4 billion

Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion, as Brazil’s state-controlled oil producer looks to raise cash and focus on deepwater projects in Brazil. More »

Halliburton’s Landmark introduces latest well construction software

Landmark, a Halliburton business line and leading provider of EandP software, has announced the release of EDT 5000.14 (Engineer’s Desktop). More »

OPEC said to head to June talks without plan for supply cap

There are currently no proposals on the table for OPEC to revive limits on crude output at its June meeting after the failure of talks to freeze production last month, according to six delegates from the group. More »

Intertek optimises potable water tank inspections with ROV service

Intertek has launched a new remotely operated vehicle (ROV) potable water tank inspection service that offers clients the option of using ROV’s to inspect their large-capacity water tanks. More »

Trelleborg receives fast-track buoyancy order

Trelleborg’s offshore operation has been awarded a fast tracked order for drill riser buoyancy modules (DRBM) by a leading drilling company. More »

Why this year's oil rally might be for real

At first blush, the rally in oil to start 2016 bears some resemblance to the rally at the start of last year, which ultimately ended in tears. More »

Xodus wins framework agreement with Lundin

Xodus Group has been awarded a framework agreement by Lundin Norway to provide engineering studies and verification services for its developments on the Norwegian Continental Shelf. More »

China oil slump seen joining U.S. slide to rebalance market

China’s falling oil output and sliding U.S. production may help rebalance a market struggling to recover from the worst price crash in a generation, according to Standard Chartered Plc. More »

Reactive Downhole Tools announces new Houston appointment

Reactive Downhole Tools, a supplier of lower completion systems, has marked its fourth year of trading with the appointment of a business development manager for the North America region. More »

Shell quarterly profit beats estimates on refining earnings

Royal Dutch Shell’s first-quarter profit beat analyst estimates as better-than-expected earnings from oil refining and chemicals production countered crude prices at a 12-year low. More »

Oil price risks force maersk to plan deeper cost cuts, CEO says

A.P. Moeller-Maersk A/S is adapting its cost base to prepare for the risk of lower crude prices as the world keeps producing more petroleum than it can consume, according to the CEO of the Danish shipping and oil conglomerate. More »

ION to conduct ocean bottom seismic survey offshore Nigeria

ION Geophysical’s Ocean Bottom Seismic (OBS) company, OceanGeo, is mobilizing its vessels and crew to conduct an OBS survey offshore Nigeria. More »

Cegal launches information management solution for seismic data

Cegal has announced the release of Blueback Seismic Data Management, a software solution that provides full life cycle management of seismic data for a range of geoscience applications. More »

Abu Dhabi said to delay building Fujairah LNG-import plant

Abu Dhabi is indefinitely delaying construction of the first land-based facility for importing LNG into the United Arab Emirates after it contracted a floating supply terminal, according to two people with knowledge of the situation. More »

Gardner Denver unveils next-generation frac pump

Gardner Denver has debuted its latest innovation with the Thunder Series frac pump at the 2016 Offshore Technology Conference. More »

Proserv wins North Sea contract from Apache

Proserv has been awarded a multi-million-dollar contract from Apache Corporation for work on the UK Continental Shelf. More »

As OPEC infighting continues, U.S. becomes swing producer

When OPEC members couldn't agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartel's reign as the world's energy swing producer—leaving the door open for American shale producers to take over the crown? More »

CGG GeoSoftware releases PowerLog 9.5 petrophysical software

CGG GeoSoftware has launched PowerLog 9.5, the new version of its flagship well log petrophysical analysis software. More »

DNV GL-led project gives green light for wind-powered oil recovery

The DNV GL-led WIN WIN Joint Industry Project (JIP) shows that for suitable fields, wind-powered water injection is technically feasible, capable of meeting performance targets, and offers a cost-competitive alternative to conventional water injection solutions. More »

Expro completes first integrated abandonment project for Apache

International oilfield services company, Expro, has successfully completed a plug and abandonment (PandA) project in the Gulf of Mexico (GoM) for Apache. More »

Kosmos Energy finalizes Suriname farm-out with Hess Corp.

Kosmos Energy has announced that it has entered into a farm-out agreement with Hess Suriname Exploration Limited, a wholly-owned subsidiary of the Hess Corporation, covering the Block 42 contract area offshore Suriname. More »

Lundin Petroleum acquires an additional 15% interest in Edvard Grieg field offshore Norway

Lundin Petroleum AB has announced that Lundin Petroleum and its wholly-owned subsidiary Lundin Norway AS have entered into agreements with Statoil ASA and its wholly-owned subsidiary Statoil Petroleum AS, under which Lundin Norway will acquire Statoil Norway's entire 15% interest in Edvard Grieg field in PL338, offshore Norway. More »

Encana still finding cost savings as rout drags on

Encana Corp., the energy producer switching its focus to oil from natural gas, is still locking in double-digit cost savings even as the crude market downturn approaches two years. More »

Producers need ‘sustained price signal’ before output boost

The current oil price rally will only lure global producers into boosting output if it appears to be sustainable, according to the U.S. Secretary of Energy. More »

Halliburton loss grows as it takes Baker Hughes charges

Halliburton’s first-quarter loss widened as customers slashed budgets in half and the company took charges related to the failed $28-billion merger with Baker Hughes Inc. More »

Schlumberger introduces industry-first microfluidic analysis technology

Schlumberger has announced the release of the Maze microfluidic SARA analysis for reservoir fluids characterization. This is the first commercial application of microfluidic analysis technology in the oil and gas industry. More »

Halliburton CEO was 'absolutely confident' in failed Baker deal

Halliburton CEO Dave Lesar wanted Baker Hughes Inc. bad. More »

Weir Oil and Gas, MTU joint venture will be named EPIX

Weir Oil and Gas and Rolls-Royce Power Systems subsidiary MTU have announced their joint venture is to be named EPIX. More »

Oil falls below $45 as Iraq exports approach record

Oil declined for a second day as Iraq’s exports approached a record high in April, adding barrels to a worldwide supply glut that has pushed prices lower. More »

G7 pledges to support energy investments amid oil downturn

The Group of Seven countries will promote investing in energy projects through the oil price crash to ensure a steady stream of supply, ministers from the member countries said Monday. More »

Occidental names Hollub first woman CEO of big U.S. oil firm

Occidental Petroleum Corp. named Vicki Hollub as CEO Friday, making her the first female CEO of a major U.S. energy explorer. More »

Ultra Petroleum files for bankruptcy, citing $3.9 billion debt

Ultra Petroleum Corp. filed for bankruptcy protection, the latest oil and gas explorer to fall victim to the prolonged slump in energy prices. More »

TGS announces new 2D multi-client acquisition offshore Eastern Canada

TGS announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS, utilizing two vessels during the 2016 acquisition season. More »

Cyberhawk sinks claws into U.S. oil and gas market

Cyberhawk Innovations, specializing in aerial inspection and survey using Unmanned Aerial Vehicles (UAV), is set to boost its international credentials with the launch of a Houston office in the U.S. More »

Saipem establishes new service industry milestones with FSHR installations

Saipem recently established new milestones in the oil service industry with the installation of two gas export Free Standing Hybrid Risers (FSHR) , 20-in. and 19-in., respectively, located in the pre-salt area of the Santos basin, approximately 300 km from the Brazilian shoreline. More »

Seatronics renews global partnership with 2G Robotics

Seatronics, an Acteon company, has announced the renewal of its global sales and distribution partnership with 2G Robotics, specialists in high precision underwater laser scanning and imaging technology. More »

Baker Hughes to buy back shares, cut costs on merger failure

Baker Hughes Inc. said it plans to buy back $1.5 billion worth of shares and to save $500 million annually by simplifying its organization. More »

Baker Hughes to buy back shares, cut costs in reorganization

Baker Hughes Inc. said it plans to buy back $1.5 billion worth of shares and to save $500 million annually by simplifying its organization. More »

Oil bulls bet the waning U.S. shale boom will curb global glut

Hedge funds are rooting for a quick collapse of the U.S. shale boom. More »

Schlumberger launches industry’s highest-pull wireline conveyance system

Schlumberger has announced the launch of the MaxPull high-pull wireline conveyance system that can pull from 18,000 lbf to 30,000 lbf in wells 40,000 ft deep or more. More »

Halliburton, Baker Hughes terminate merger agreement

Halliburton and Baker Hughes have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. More »

Halliburton, Baker Hughes said to call off merger

Halliburton Co. and Baker Hughes Inc. are preparing to call off their $28-billion merger, which has met stiff antitrust resistance from regulators in the U.S. and Europe, a person familiar with the situation said. More »

Helicopter crash off western Norway kills all 13 onboard

A helicopter flying people from a Statoil ASA-operated oil and gas field offshore Norway crashed on its way to Bergen on the country’s west coast, killing all passengers and crew onboard. More »