U.S. shale drillers restart oil rigs as market improves

Oil explorers put drilling rigs back to work in U.S. fields for only the second time this year as supply and demand come closer into balance. More »

BSEE, BOEM find no significant impact from well stimulations offshore California

The Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) have completed a comprehensive environmental analysis evaluating the potential impacts from the use of well stimulation treatments on the 23 oil and gas platforms currently in operation on the Outer Continental Shelf (OCS) offshore California. More »

Rosneft, Statoil spud wildcat in Russian Far East

Rosneft and Statoil have started drilling an exploration well in the Sea of Okhotsk in Russia’s Far East. More »

Ireland awards 14 licenses in phase 2 of Atlantic licensing round

Ireland has announced the offer of 14 new Licensing Options in the Irish offshore following the conclusion of the 2015 Atlantic Margin Licensing Round. More »

Iran sees better OPEC climate as rivals accept its rising output

Relations among OPEC members have improved significantly after several acrimonious meetings as the oil-producing group accepts Iran’s revival of crude output, the Iranian oil minister said. More »

Statoil acquires additional equity in UK license for Utgard field

Statoil has agreed to acquire JX Nippon’s 45% equity share in, and operatorship of, the UK license for Utgard field. More »

Saudi Arabia says oil at $50 won’t hinder market recovery

Oil prices at $50 won’t allow shale oil and other higher-cost producers to lift supply to levels that hinder market recovery, Saudi Arabia’s oil minister said. More »

Exxon CEO says Argentina shale investment may exceed $10 billion

Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and CEO Rex Tillerson said Thursday. More »

Penn West said to be working with RBC to find buyer for Viking asset

Penn West Petroleum Ltd. has hired Royal Bank of Canada to sell its Dodsland Viking light oil assets in Saskatchewan, according to people familiar with the process. More »

Oil shrugs off OPEC decision to skip curb as U.S. output shrinks

Brent crude held its gains near $50/bbl as investors shrugged off OPEC’s decision to stick to its policy of unfettered output amid signs the global market is re-balancing. More »

Schlumberger acquires Omron Oilfield and Marine, Inc.

Schlumberger has acquired Omron Oilfield and Marine, Inc., a U.S.-based OMRON Corporation group company, which is a global leader in automation technology and solutions. More »

Norway sees U.S. gas as chance for Europe to diversify supplies

U.S. exports of shale gas stand to increase confidence in the fuel as a long-term energy source, while giving Europe the chance to diversify its natural gas supplies, Norway Petroleum and Energy Minister Tord Lien said Wednesday. More »

Study shows methane abatement costs higher than previously estimated

A new independent assessment of methane abatement costs by ICF International concluded that the cost to reduce methane emissions from natural gas systems is $3.35/Mcf of methane reduced, nearly five times greater than previous estimates suggest. More »

Saudi oil minister says Aramco to keep spare capacity after IPO

The initial public offering of the world’s largest oil company will not mean an end to a long-time policy of keeping some of its production capacity idle to cushion any disruption in supply, Saudi Arabia’s energy minister said. More »

GE wins major contract for Statoil’s Johan Sverdrup development

LONDON -- Statoil has awarded GE Oil and Gas a significant surface wellhead and Christmas tree equipment and services contract for its landmark Johan Sverdrup project in the North Sea. More »

Tendeka wins four-year contract with Wintershall Norge

Tendeka has won a four-year contract with Wintershall Norge AS with a further four-year extension option. More »

OPEC keeps status quo after failing to agree on output cap

OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling. Crude extended its decline in London. More »

OPEC said to keep status quo after failing to agree output limit

OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling, according to a delegate at the group’s meeting in Vienna. Crude extended its decline in London. More »

Noble receives plan of development approval for Israel’s Leviathan field

Noble Energy has received approval from the Petroleum Commissioner in Israel’s Ministry of National Infrastructure, Energy and Water Resources for the development of the Leviathan project. More »

Increased field decline on mature fields is becoming visible: Rystad

For the first time since the 1980s, the industry will experience two consecutive years of decreased global EandP investment, according to the latest analysis by Rystad Energy. More »

DNV GL - Oil and Gas signs master service agreement with Statoil

DNV GL signed a master service agreement (MSA) with Statoil that includes a broad scope of studies on topics including safety, platform technology, structural reanalysis and pipeline technology. More »

OEG expands reach with AOR Containers acquisition

OEG Offshore is moving into Norway, the Congo and Myanmar for the first time, with its acquisition of AOR Containers, a major player in Europe, Africa and Asia. More »

AccessESP names Assal as regional manager for Middle East, North Africa

AccessESP, a provider of rigless electric submersible pump (ESP) conveyance solutions, has appointed Anwar Assal as the company's regional manager for the Middle East and North Africa. More »

America's new role in global oil markets is being ‘put to the test’

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Oil’s emerging giant beckons U.S. wildcatters who riled OPEC

The casualties of the U.S. shale bust are being offered a new frontier thousands of miles away in India to remake their fortunes. More »

Saudi Arabia’s gesture for OPEC unity meets Iranian resistance

Saudi Arabia faced resistance from Iran to proposals to restore a production target scrapped at OPEC’s last meeting in December as efforts to build unity were undermined by persistent divisions within the producer group. More »

Packers Plus completes first well in Iraq’s Kurdistan region

Packers Plus Energy Services recently installed and stimulated an open hole completion system in the Kurdistan region of northern Iraq, the company said Wednesday. More »

Oil pares losses on report OPEC to consider new output ceiling

Oil pared declines following a report that OPEC may consider a new production ceiling at Thursday’s meeting. More »

Schlumberger acquires France-based Saltel Industries

Schlumberger has announced the acquisition of Saltel Industries, a France-based engineering, manufacturing and service company that offers expandable patches and steel packers technology for the oil and gas industry. More »

Schlumberger acquires Saltel Industries

Schlumberger has announced the acquisition of Saltel Industries, a France-based engineering, manufacturing and service company that offers expandable patches and steel packers technology for the oil and gas industry. More »

Saudi Aramco signs MOU with GE and Cividale for MENA manufacturing facility

Saudi Aramco has signed a Memorandum of Understanding (MOU) with GE and Cividale SpA of Italy to build the Middle East and North Africa’s first-of-its-kind forging and casting manufacturing facility that will serve the region’s maritime and energy industries. More »

FourPoint Energy closes acquisition of Chesapeake’s Western Anadarko basin assets

FourPoint Energy has closed its previously announced acquisition of Chesapeake Energy's remaining Western Anadarko basin oil and gas assets for a purchase price of $385 million. More »

Weatherford Canada drilling services facility gains API Q2 certification

Weatherford International plc announced that the Weatherford drilling services facility in Nisku, Alberta, Canada, received API specification Q2 certification. More »

Dana Gas CEO expects ‘bumpy road’ for oil as shale sets floor

The oil market is heading for a “bumpy road” with prices close to levels that are profitable for U.S. shale producers, according to Patrick Allman-Ward, CEO of Dana Gas PJSC, which produces natural gas in Egypt and Iraq. More »

4Subsea awarded framework contract with Statoil

4Subsea’s framework agreement covering 10 installations on the Norwegian Continental Shelf (NCS) in the period from 2012 to June 2016 has been extended to June 2018. More »

Aqualis Offshore wins position keeping contract for Ichthys FPSO

Aqualis Offshore, a marine and offshore engineering consultancy, has signed a contract to provide position keeping services for the installation of the Ichthys LNG Project FPSO. More »

Petrobras terminates contract for Subsea 7 pipelay vessel

Subsea 7 has reported the early termination of the day-rate contract for the company’s pipelay support vessel Seven Mar. More »

DOF Subsea secures new contract awards

DOF Subsea has been awarded several ROV and diving contracts for the vessel Skandi Achiever in the North Sea and the North America region, securing utilization of the vessel until the end of October. More »

Oil falls as recent gains deemed unsustainable, disruptions ease

Oil declined for a fourth day on concern recent gains were unsustainable, while shuttered Canadian operations started to reopen. More »

OPEC ministers say oil market moving in right direction

OPEC ministers gathering in Vienna for the group’s biannual meeting said the oil market is moving in the right direction as a supply glut dissipates. More »

Petrobras names new CEO and board member

Petrobras has annouced the resignation of Aldemir Bendine from Petrobras’ board member and CEO positions. More »

Cobalt International names ex-BHP exec as new CEO

Cobalt International Energy has announced the appointment of Timothy J. Cutt as CEO and as a Class I member of the board of directors, each effective July 2, 2016. More »

No more oil walks in Vienna: Saudis bring new style to OPEC

For more than two decades, the people of Vienna have witnessed a peculiar ritual that’s been a firm fixture of OPEC’s regular gathering: the Saudi oil minister’s morning stroll. More »

Iran plans oilfield tenders in June for international companies

Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after years of crippling sanctions. More »

Technip wins major field development contract in Mediterranean Sea

Technip has been awarded a major contract to develop the Bahr Essalam, Phase II development in the Central Mediterranean Sea. More »

Perseus, Greyrock announce JV to monetize flare gas in Mexico

Compañia Petrolera Perseus S.A. de C.V. (Perseus), an independent Mexican EandP company, and Greyrock Energy, Inc., a leader in small scale gas-to-liquids, are collaborating to provide solutions for the flaring of natural gas in Mexico using Greyrock's Flare-to-Fuels systems. More »

Statoil drills minor discovery, dry appraisal well in North Sea

STAVANGER, Norway -- Statoil Petroleum AS, operator of production license 035, is in the process of concluding the drilling of wildcat well 30/11-12 S and appraisal well 30/11-12 A. More »

Halliburton, Eclipse Resources complete longest lateral well in U.S.

Halliburton worked with Eclipse Resources Corporation to complete hydraulic fracturing of the extended reach lateral test well known as “Purple Hayes,” the company said Tuesday. More »

Minor oil discovery and dry appraisal well completed southwest of Oseberg Sør field, North Sea

STAVANGER, Norway -- Statoil Petroleum AS, operator of production license 035, is in the process of concluding the drilling of wildcat well 30/11-12 S and appraisal well 30/11-12 A. More »

Cheniere, Bechtel report substantial completion of Train 1 at Sabine Pass

Cheniere Energy Partners and Bechtel have achieved substantial completion of Train 1 of the Sabine Pass liquefaction project in Cameron Parish, Louisiana. More »

Seatools introduces intelligent active heave compensation module

Seatools has introduced an intelligent active heave compensation module: HeaveMate. This active heave compensator is an easy-to-integrate system for both new as well as existing offshore and subsea equipment, such as winches, cranes and LARS systems. More »

Optimized vessel operations saving fuel on offshore supply ships

OSLO, Norway -- A joint development project (JDP) between DNV GL, Statoil and Farstad Shipping has demonstrated that offshore supply vessels (OSV) can save up to €21,000 on their annual fuel bill, by running the vessel at optimal trim. More »

Sercel delivers two 508XT land acquisition systems to Russian service company

CGG announced that Sercel has delivered two of its new-generation 508XT land seismic acquisition systems, representing a total of 12,000 channels, to Bashneftegeofizika, one of the largest oil service companies in the Russian Federation. More »

Gazprom Neft confirms first shipment of Yamal oil via sea terminal

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Sercel delivers two 508XT land acquisition systems to a large Russian oil service company

CGG announced that Sercel has delivered two of its new-generation 508XT land seismic acquisition systems, representing a total of 12,000 channels, to Bashneftegeofizika, one of the largest oil service companies in the Russian Federation. More »

Suncor resumes oil-sands operations after wildfire shutdown

Suncor Energy restarted oil-sands operations near wildfire-ravaged Fort McMurray, enabling thousands of people to return to work. More »

Callon Petroleum completes acquisitions in Midland basin

Callon Petroleum has announced the closing of its previously announced acquisition of certain assets in the Midland basin operated by Big Star Oil and Gas, LLC. More »

Oil set for longest run of gains in 5 years before OPEC meeting

Oil is set for the longest run of monthly gains in five years as output disruptions from Nigeria to Canada reduce supply before OPEC meets Thursday in Vienna to discuss production policy. More »

Oil pessimists exit market as supplies seen closer to balance

The oil market doomsayers are beginning to capitulate. More »

Battered by crude collapse, Norway now faces risk of oil strikes

Norway’s oil companies and the industry’s biggest union had set aside two days to negotiate over wages for offshore workers. Instead, the talks broke down after less than a minute. More »

Oil at $60 gains more backers on forecast for higher U.S. demand

The United Arab Emirates’s economy minister joined forecasters looking for $60 crude this year with demand and production moving more in line. More »

Cyberhawk, Nordic Unmanned in Norwegian partnership

Cyberhawk Innovations has bolstered its international presence by signing a partnership agreement with Nordic Unmanned, Norway’s leading UAV operator. More »

Det norske awards subsurface, engineering contract to First Geo

Det norske oljeselskap has awarded First Geo a framework agreement for delivery of a broad range of subsurface and well engineering services. More »

Oil states expected to stick with Saudis: OPEC reality check

OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy is working. More »

New Brunswick's decision to extend fracing moratorium is a step in wrong direction, CAPP says

The Canadian Association of Petroleum Producers (CAPP) has expressed disappointment with the New Brunswick government’s decision to extend the moratorium on hydraulic fracturing. More »

Oil near $50 amid drop in U.S. rigs, disruptions in Nigeria

Oil traded near $50 after a drop in active rigs in the U.S. and further supply disruption in Nigeria. More »