U.S. drillers idle ten oil rigs for eight week of decline

The number of rigs seeking oil fell for an eight consecutive week, Baker Hughes said Friday as the total rig count settled just above 400. More »

Gazprom Neft, Yandex.Terra to collaborate on seismic software development

The Gazprom Neft Joint Scientific and Research Centre has signed a memorandum with Yandex.Terra (Seismotech, Ltd) on joining forces in the development of domestic IT technologies and software for the processing and interpretation of seismic data. More »

The Oil and Gas Asset Clearinghouse expands into Mexico

OFSCap, LLC, has announced that its affiliate The Oil and Gas Asset Clearinghouse is expanding its presence into Mexico. More »

Petrobras corruption investigation said to ramp up in U.S.

U.S. authorities are investigating more than a dozen companies as part of an international bribery probe that has already led to more than 150 arrests in Brazil, according to people familiar with the matter. More »

New North Sea beckons oil producers off Canada's eastern coast

A change to an obscure shipping law is helping draw major oil companies to an area off Canada’s east coast that may rival the North Sea for its production potential. More »

TGS reaches 75% acquisition progress mark on Gigante seismic program

TGS has now acquired approximately 141,000 km (75%) of the planned 186,000 km 2D seismic project Gigante, the company said in a statement. More »

BSEE responding to release of oil in Gulf of Mexico

The U.S. Bureau of Safety and Environmental Enforcement (BSEE) is responding to a two mile by thirteen mile sheen in the Gulf of Mexico, approximately 97 miles south of Port Fourchon, La. More »

Big Oil gobbles up record levels of debt as borrowing costs fall

The world’s biggest oil companies are borrowing record amounts of money to cope with a slump in crude prices. Luckily, there’s rarely been a better time to go on a debt binge. More »

Hoover Container Solutions appoints Schibevaag as managing director for Europe

Hoover Container Solutions Norway—a subsidiary of Hoover Group, Inc., and Consult Supply, a Hoover company—has appointed Tor Olav Schibevaag as managing director for Europe and Kjetil Skaaren as general manager for Norway. More »

FMC’s North American wireline assets to be acquired by Reliance Oilfield Services

Reliance Oilfield Services has announced the execution of a definitive acquisition agreement where Reliance will acquire assets within FMC Technologies’ wireline services business in Canada and the U.S. More »

Superior Drilling Products, Drilling Tools International ink distribution agreement for Drill-N-Ream well bore conditioning system

Superior Drilling Products (SDP) and Drilling Tools International (DTI) have announced a distribution agreement, which establishes DTI as the exclusive distributor of SDP’s patented Drill-N-Ream well bore conditioning system in the North American onshore and offshore markets, excluding the Rocky Mountain region. More »

OPEC keeps oil-market outlook unchanged before June meeting

OPEC kept forecasts for global oil supply and demand unchanged in its last monthly assessment before members meet to review the market. More »

Oil at $45 proving no savior as bankruptcies pile up

Three bankruptcies this week shows that $45/bbl oil isn’t enough to rescue energy companies on the verge of collapse. More »

Iran's speedy oil revival unlikely to mean change in OPEC stance

Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action. More »

Obama methane rule is worse than originally proposed

The Obama administration, yielding to environmentalists demanding action to address climate change, issued limits on methane emissions from oil and gas wells that are even tougher than those it proposed last year. More »

AnTech launches wellhead outlets for low cost operations

AnTech has launched three new products within its best-in-class Wellhead Outlet range. More »

DME reaches the 10 billion barrels mark

The Dubai Mercantile Exchange (DME) has crossed the 10 million contracts mark, with 10 billion barrels of Omani crude oil traded on the Exchange since its inception. More »

Cheniere Energy names Fusco as new president, CEO

Cheniere Energy’s board of directors has named Jack A. Fusco as the company’s new president and CEO, effective immediately. He succeeds Neal A. Shear. More »

CNPC to start laying second China-Russia oil pipeline in June

China National Petroleum Corp., the country’s biggest oil and gas producer, will start laying a second domestic oil pipeline in June to allow for increased Russian crude supplies to flow to China’s northeastern city of Daqing. More »

Iran oil output rose to pre-sanctions levels in April, IEA says

Iranian crude production rose to levels last seen before sanctions were imposed more than four years ago, helping to drive OPEC output to the highest in almost eight years, according to the International Energy Agency. More »

Topaz secures contract for 15 vessels for Kazakhstan’s Tengiz oil field

Topaz Energy and Marine has, in a consortium led by Blue Water Shipping, secured a contract to supply and operate 15 vessels for the Tengizchevroil joint venture in Kazakhstan for a contract value in excess of $350 million. More »

Wintershall awards Halliburton service contract for Maria project

Wintershall Norge has awarded a four-year service contract to support its exploration and development projects in Norway to Halliburton Norge. More »

Husky starts steam operations at Vawn thermal project

Husky Energy has started steam operations at the Vawn Lloyd Thermal Project in Saskatchewan, Canada. The 10,000-bpd Vawn development is expected to produce first oil early in the third quarter. More »

Newfield may sell Eagle Ford assets said to be worth $500 million

Newfield Exploration Co. has hired two investment banks to find buyers for its acreage in Texas’s Eagle Ford basin and other oil plays as it seeks to focus on Oklahoma’s Anadarko region. More »

IEA sees smaller global oil surplus as India drives demand gains

The global oil surplus in the first half of this year will probably be smaller than previously estimated because of robust demand in India and other emerging nations, the International Energy Agency said. More »

Eni’s Nooros field producing 65,000 boed just 10 months after discovery

Eni, following the start of production from the Nidoco North 1X exploration well and the Nidoco North West 4 development well, brought production from Nooros field, in the Abu Madi West concession, to around 65,000 boed. More »

Oil rises after unexpected decline in U.S. crude stockpiles

Oil climbed after a government report showed that U.S. crude inventories unexpectedly declined. More »

EandPs with significant DUC inventory to benefit from capital efficiency gains: IHS

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Gazprom Neft's NIS reports first-quarter profit on cost cuts

Naftna Industrija Srbije, majority owned by Russia’s Gazprom Neft PAO, extended profits in the first quarter as increased refining volume and cost cuts helped offset the low prices of crude. More »

Siemens ships first gas turbine package to Abu Dhabi’s Zirku Island oil field

Siemens has shipped its first Industrial Trent 60 gas turbine generator package from its manufacturing facility in Mount Vernon, Ohio, to Abu Dhabi Marine Operating Company's (ADMA-OPCO) Satah Al-Razboot (SARB) offshore oil field project on Zirku Island. More »

AWE rejects unsolicited takeover proposal by Lone Star Fund

SYDNEY, Australia -- AWE Limited said Wednesday that it has received an unsolicited indicative, conditional and non-binding proposal from Lone Star Japan Acquisitions, Ltd, on behalf of a Lone Star Fund, to acquire all of the shares in AWE for a cash consideration of A$0.80 per share. More »

Husky Energy sells southwest Saskatchewan assets for C$595 million

Husky Energy has reached an agreement for the sale of select assets in southwest Saskatchewan for C$595 million to Whitecap Resources. More »

Woodside awards Technip multi-disciplinary engineering services contract

Technip has been awarded an engineering services contract by Woodside to provide multi-disciplinary engineering services as part of an engineering panel. More »

Encana said to weigh sale of Western Canadian shale assets

Encana Corp. is weighing the sale of some of its shale assets in Western Canada as part of an effort to bolster its balance sheet amid protracted low oil prices, people with knowledge of the matter said. More »

Abu Dhabi's Taqa posts loss as oil price hurts revenue

Abu Dhabi National Energy Co., which produces oil and natural gas from Canada to North Africa, reported a net loss for the first quarter as revenue declined because of lower crude and natural gas prices. More »

Premier Oil to meet or exceed 2016 production forecast

Premier Oil, an explorer operating on four continents, said it would meet or exceed its production forecast for the year. More »

Paradigm opens Seismic Center of Excellence in Mumbai

Paradigm has opened a Seismic Center of Excellence in Mumbai, India. The center, staffed by domain experts, will be dedicated to dealing with the challenges associated with the processing, imaging, interpreting and modeling of multi-line 2D seismic surveys. More »

CGG GeoSoftware releases EarthModel FT 9.5

CGG GeoSoftware has launched EarthModel FT 9.5, the latest version of its comprehensive geological modeling software that combines well and seismic data for a better understanding of the reservoir. More »

FMOG to pay Noble Corp. $540 million for drillship cancellations

Noble Corp. has reached an agreement with Freeport-McMoRan Oil and Gas in connection with the drilling contracts for the drillships Noble Sam Croft and Noble Tom Madden, which were scheduled to terminate in July and November 2017, respectively. More »

Nigeria oil union says Shell, Chevron workers evacuated

Oil producers are evacuating non-essential workers from the Niger Delta, because of the deteriorating security situation in Nigeria’s most-important oil-producing region, a union official said. More »

Noble Corp., Freeport-McMoRan reach agreement on drillship contract terminations

Noble Corporation has reached an agreement with its client, Freeport-McMoRan Oil and Gas LLC (FMOG), and FMOG's parent company, Freeport-McMoRan Inc., in connection with the drilling contracts for the drillships Noble Sam Croft and Noble Tom Madden, which were scheduled to terminate in July and November 2017, respectively. More »

Stubborn natural gas supply imperils best U.S. rally in 14 years

Natural gas futures have soared since March on speculation that supplies are finally falling after a decade of gains. Production numbers tell a different story. More »

Shell, Chevron workers evacuated in Nigeria

Oil producers are evacuating non-essential workers from the Niger Delta, because of the deteriorating security situation in Nigeria’s most-important oil-producing region, a union official said. More »

Oil market ‘rebalancing’ for Qatar as OPEC heads for Vienna

Global oil demand is catching up with supply and the market should see a “rebalancing” in the second half of the year as cheaper crude has forced some production to close, Qatar’s Energy Minister Mohammad Al Sada said. More »

Tercel Oilfield Products acquired by Rubicon Oilfield International

Rubicon Oilfield International has acquired Tercel Oilfield Products from Lime Rock Partners. Terms of the transaction were not disclosed. More »

INTECSEA senior vice president joins ITF board

The Industry Technology Facilitator (ITF) has appointed Richard Luff to its board as a non-executive director. More »

Statoil, Maersk Training sign global drilling simulation agreement

Maersk Training has signed a global framework agreement with Statoil to provide drilling simulation training for the next three years with an option to extend for an additional two years. More »

ProSep wins order to supply ProMix units to Middle Eastern NOC

ProSep is to supply four ProMix units to a national oil company based in the Middle East, the company said Tuesday. More »

FMC names Pferdehirt as next CEO

FMC Technologies’ board of directors has appointed Douglas J. Pferdehirt, 52, as president and CEO of the company, effective Sept. 1, 2016. He will succeed John T. Gremp. More »

Big Oil abandons $2.5 billion in U.S. Arctic drilling rights

JUNEAU, Alaska (Bloomberg) -- After plunking down more than $2.5 billion for drilling rights in U.S. Arctic waters, Royal Dutch Shell, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery. More »

Saudi Aramco CEO sees ‘significant growth’ in oil output in 2016

Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago. More »

Petrobras asset sales unaffected by impeachment

Political turmoil in Brazil shouldn’t stop Petrobras from completing asset sales it has already opened up to bidders, according to one company vying for the state-controlled driller’s Bauna offshore field. More »

Iran seen taking its time on joint action with OPEC members

Iran says it’s almost ready to talk with other OPEC members about limiting oil production as the country’s exports recover to levels reached before international sanctions crippled crude sales. Morgan Stanley and Barclays Plc say no agreement is on the cards for now. More »

Noble Energy awarded certificate of SEMS compliance for drilling in Tamar field

DNV GL – Business Assurance USA, Inc. today issued to Noble Energy a certificate of compliance to the SEMS (Safety and Environmental Systems) standard, which represents the highest criteria for safe operations of offshore drilling platforms. More »

Forum Subsea Rentals invests in multi-million-dollar rental order

Forum Subsea Rentals has strengthened its offering of state-of-the-art rental equipment by placing a multi-million-dollar equipment order with subsea technology provider, Sonardyne International. More »

Alberta fire set to move from oil-sands sites in wind shift

Wildfires raging through Alberta are set to move away from the main oil-sands facilities north of Fort McMurray after knocking out an estimated 1 MMbpd from Canada’s energy hub. More »

Kosmos Energy in significant gas discovery offshore Senegal

DALLAS -- Kosmos Energy’s Teranga-1 exploration well offshore Senegal has made a significant gas discovery, the company said Monday. More »

Kosmos Energy in significant discovery offshore Senegal

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Kurdistan-focused Genel Energy names new COO

Genel Energy, whose core assets are in the Kurdistan Region of Iraq, has appointed Paul Schofield as its new COO. More »

Bibby Offshore awarded multi-million-dollar North Sea contract

Bibby Offshore has announced a multi-million-dollar contract with a global energy player, to provide first gas and construction support on its assets in the Southern North Sea. More »

Wood Group wins Iraq contracts worth $140 million-plus

Wood Group has secured two new, three-year contracts, collectively valued at over $140 million, to deliver technical services and expertise to one of the world’s leading international oil companies in Iraq. More »

Saudis' new oil boss seen chasing record output to stymie shale

Saudi Arabia will probably keep producing crude at near-record levels under its newly appointed oil minister, Khalid Al-Falih, as the world’s largest exporter sticks with his predecessor’s policy of defending market share against higher-cost shale. More »