Oil falls most in 10 weeks as U.S. rig count gains, dollar rises

Crude fell the most in 10 weeks as the number of rigs drilling for oil in the U.S. climbed and the U.S. dollar strengthened against its peers. More »

Bucking Big Oil, U.S. House condemns carbon tax

WASHINGTON, D.C. (Bloomberg) -- Congressional Republicans approved a non-binding resolution to condemn the idea of a carbon tax, putting lawmakers on record opposing an approach to combating climate change favored by Exxon Mobil Corp. and other large oil companies. More »

NOV reports technology advancement in lifecycle management of wellbore products

National Oilwell Varco has introduced an advancement in Radio Frequency Identification (RFID) technology and asset management software for the oil and gas industry. More »

Croatia approves the signing of six onshore production sharing agreements

The Croatian government approved production sharing agreements for the exploitation of hydrocarbons on six onshore acreage blocks in Drava, Sava and eastern Slavonia. More »

Croatian government approves the signing of six onshore production sharing agreements

The Croatian government approved production sharing agreements for the exploitation of hydrocarbons on six onshore acreage blocks in Drava, Sava and eastern Slavonia. More »

Austin Exploration offers securities to fund Colorado drilling program

Austin Exploration Limited announced that it will complete a two-tiered securities placement program targeted at raising US$1.26 million to fund its Pathfinder drilling program in the Colorado portion of the DJ basin. More »

Southwestern Energy sells West Virginia acreage to Antero

Southwestern Energy has entered into a definitive agreement with Antero Resources to sell approximately 55,000 net acres in West Virginia for $450 million. More »

Statoil completes exploration campaign offshore Newfoundland

Statoil, along with its partners, has finalized a 19-month exploration drilling program offshore Newfoundland, Canada. The purpose of the program was to increase the robustness of the Bay du Nord project and to test new areas of the Flemish Pass basin. More »

Oil Search bets on overcoming price rout in Papua New Guinea

Oil Search Ltd., the energy producer that agreed to acquire fellow Papua New Guinea explorer InterOil Corp. for $2.2 billion, is betting it can overcome a languishing LNG market to deliver another export project by beating rivals on costs. More »

How far can oil rally? Options investors bet on surge above $100

Oil investors are buying contracts that will only pay out if crude rises well above $100/bbl over the next four years—a clear sign some believe today’s bust is sowing the seeds of the next boom. More »

Energy world’s newest supership misses the boat on LNG pricing

It’s longer than three soccer fields, heavier than two aircraft carriers and powerful enough to chill gas into liquid colder than the surface of Jupiter. And its maiden voyage couldn’t have come at a worse time. More »

BP, Det norske pool forces to create Norwegian super-independent

BP and Det norske oljeselskap today announced the creation of Aker BP ASA, an independent oil and gas company combining the assets and expertise from both companies’ Norwegian EandP operations to form the largest Norwegian independent oil and gas producer. More »

Shale king Harold Hamm fracing unfinished wells after rally to $50

Continental Resources has begun finishing oil wells as U.S. prices have almost doubled to about $50/bbl since touching a 12-year low earlier this year. More »

Oil slump causes 120,000 UK job cuts since 2014 industry peak

The UK oil and gas industry will ax 120,000 jobs by the end of the year following the collapse in oil prices, according to a lobby group. More »

USGS estimates 66 Tcf of gas in Colorado’s Mancos shale

The Mancos shale in the Piceance basin of Colorado contains an estimated mean of 66 Tcf of shale natural gas, 74 MMbbl of shale oil and 45 MMbbl of NGLs, according to an updated assessment by the U.S. Geological Survey. More »

USGS estimates 66 Tcf in Colorado’s Mancos shale

The Mancos shale in the Piceance basin of Colorado contains an estimated mean of 66 Tcf of shale natural gas, 74 MMbbl of shale oil and 45 MMbbl of NGLs, according to an updated assessment by the U.S. Geological Survey. More »

GE Oil and Gas launches new subsea connector

GE Oil and Gas has completed the qualification of its upgraded 36kV high voltage wet mate connector. More »

GE awarded service contract on Gazflot's semi-sub drilling vessels

GE’s Marine Solutions has been awarded a service contract by CIMC Raffles to provide the first dry-dock services on two of Gazflot’s semi-sub drilling vessels—Northern Lights and Polar Star. More »

Hexion’s oilfield technology group expanding Canadian proppant plant

Hexion Inc.’s oilfield technology group has announced the expansion of its resin coated proppant manufacturing facility in Canada to provide a more efficient supply of proppants to fracturing service companies and operators in the oil and gas industry. More »

NEB sees Canadian natural gas supply continuing to decline

Canada’s National Energy Board (NEB) has released its Short-term Canadian Natural Gas Deliverability, 2016-2018, report that projects supply and future pricing for Canadian natural gas over the next two years. More »

Canadian natural gas supply seen continuing to decline

Canada’s National Energy Board (NEB) has released its Short-term Canadian Natural Gas Deliverability, 2016-2018, report that projects supply and future pricing for Canadian natural gas over the next two years. More »

Hydratight makes strategic move to La., recruits product account manager

Joint integrity specialist Hydratight has deployed all offshore equipment to its facility in Gonzales, La., to improve flexibility for customers. More »

Russia isn’t counting on the oil rally to hold

Russia isn’t buying into the optimism that a rally in oil has legs. More »

Seadrill to make second bond swap in a month to trim debt

Seadrill Ltd., the offshore driller seeking to cut its debt load, agreed to swap bonds for equity in the second such deal in less than a month. More »

Glori Energy names Guilbeau as interim CEO

Glori Energy, an energy technology and oil production company focused on enhanced oil recovery using its proprietary AERO System, has announced the appointment of Kevin Guilbeau as interim CEO. More »

Eni, BP in new discovery in Egypt’s East Nile Delta

Eni and BP Egypt have made another important gas discovery in the Baltim South Development lease in the East Nile Delta. More »

Subsea survey shows sales down but investment vital to sector’s future

A snapshot survey by industry body, Subsea UK, has revealed that, while sales have dropped since the oil price collapse, the UK’s subsea industry is maintaining its investment in technology and looking to increase exports. More »

Statoil in gas/condensate discovery southwest of Oseberg South field

Statoil Petroleum, operator of production license 272, has completed the drilling of wildcat well 30/11-13. The well proved gas/condensate. More »

Peak’s 5 ½-in. SIMULTRA Retrievable Bridge Plug receives V0 certification

Peak Well Systems, a specialist in the design and development of advanced downhole tools for well intervention, has reached another important milestone in the development program for its SIMULTRA range of retrievable bridge plugs. More »

Wood Group Mustang, Grupo Diavaz form engineering joint venture in Mexico

Wood Group Mustang and Grupo Diavaz, a Mexican oil and gas operator and services company, have created a joint venture engineering business to capitalize on Mexico’s energy reform. More »

Shell follows Total in buying Iranian crude after sanctions end

Royal Dutch Shell Plc is set to ship a cargo of Iranian crude to Europe next month, becoming the second major oil company in the region after Total SA to resume oil trade after some sanctions on the Persian nation’s nuclear program were lifted in January. More »

Environment is benefiting from fracing, API says

API Upstream and Industry Operations Director Erik Milito touted the environmental benefits of hydraulic fracturing in a conference call with reporters today. More »

Norway to continue geologic mapping and mineral assessments of deep-sea formations in the North Atlantic

The Norwegian Petroleum Directorate (NPD) has dedicated resources to acquire seabed samples from the Vøring Spur and Gjallar Ridge South areas in the summer of 2016. More »

Oil climbs to 10-month high as U.S. crude stockpiles decline

Oil advanced to the highest level in more than 10 months in New York as industry data showed U.S. crude supplies declined, reducing a glut. More »

OKEA, AGR partner on NCS assets

AGR, a global energy services and technology company, has announced a deal to work with the Norwegian development and production company OKEA to support the life cycle of its upstream assets on the Norwegian Continental Shelf (NCS). More »

Cortec expands Cortec Manifold Systems manufacturing facility

More »

InterMoor completes FPSO mooring work for Shell’s ultra-deepwater Stones project

InterMoor, an Acteon company, has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico (GoM). More »

EnLink Midstream to expand in core of Permian's Midland basin

A subsidiary of EnLink Midstream Partners, LP and EnLink Midstream, LLC will construct a new crude oil gathering system, called the Greater Chickadee crude oil gathering project, in Upton and Midland counties in the Permian basin. More »

Mermaid secures six subsea projects in Asia

Seascape Surveys Pte. Ltd. and PT Seascape Surveys Indonesia, subsidiaries of Mermaid Maritime Public Company Limited, have been awarded six different subsea projects in Asia with an estimated aggregate contract value of $15 million. More »

McClendon probe found no direct evidence of suicide, police say

Investigators in Oklahoma City have found no direct evidence that Aubrey McClendon committed suicide when his car struck a wall March 2, a police department spokesman said. More »

InterMoor completes FPSO mooring project for Shell’s ultra-deepwater Stones project

InterMoor, an Acteon company, has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico (GoM). More »

IEA cuts gas demand outlook again as glut seen to end of decade

While oil markets will start re-balancing after a slump next year, an oversupply in natural gas won’t disappear until the end of the decade, the International Energy Agency said, slashing its gas demand outlook for a fourth straight year. More »

Oil trades near 10-month high as falling U.S. supplies trim glut

Oil traded near the highest close in more than 10 months as weekly U.S. industry data showed crude stockpiles declined, trimming a glut. More »

Oil’s rally to $50 excites investors as explorers take it slow

Oil closed above $50/bbl in New York for the first time in 10 months and U.S. production has fallen to the lowest in almost two years. Time to drill, baby, drill? More »

Global oil demand is growing ‘strongly,’ leading trader says

Trafigura Group has joined other leading energy trading houses in saying oil demand is growing "strongly" this year, suggesting that OPEC’s cheap oil strategy is spurring consumption despite weak economic growth in China and other emerging nations. More »

Global Maritime appoints regional manager for Norway

Global Maritime Consultancy and Engineering, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has appointed Mikal Grure Eie as regional manager for Norway. More »

Saudi Arabia scales back renewable energy goal to favor gas

Saudi Arabia is curtailing renewable-power targets as the world’s biggest oil exporter plans to use more natural gas, backing away from goals set when crude prices were about triple their current level, according to Energy Minister Khalid Al-Falih. More »

Pre-salt production exceeds 1 MMbopd, Petrobras says

Pre-salt production now accounts for 40% of the oil produced from facilities operated by Petrobras in Brazil. More »

Argentina’s YPF names Total’s Ricardo Darre as chief executive

YPF, Argentina’s state-controlled energy firm, named Total managing director Ricardo Darre as CEO to lead the country’s biggest company. More »

Helix, Petrobras finalize contract negotiations

Helix Energy Solutions Group has completed its contract renegotiations with Petróleo Brasileiro S.A. and has entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2, offshore Brazil. More »

Inpex Corp. spuds wildcat offshore Japan

Inpex Corporation started drilling an exploratory well offshore Japan on Sunday, the company said in a statement. More »

Suncor lowers annual production guidance on wildfire

Suncor Energy, Canada’s largest energy company, lowered its crude output forecast for the year by about 6.2% because of facility outages caused by wildfires raging across northern Alberta. More »

Equatorial Guinea opens oil blocks, says Exxon still wanted

Equatorial Guinea, which opened bidding for oil and gas exploration blocks Monday, said it wants Exxon Mobil Corp. to remain as an operator even after the government decided not to renew its license for the country’s highest-producing field. More »

Shell deepens spending cuts, promises more savings from BG

Royal Dutch Shell cut spending plans further and promised increased savings following its record purchase of BG Group, as Europe’s largest oil company continues to adjust to the slump in energy prices. More »

WTI holds gains in New York after closing at 10-month high

Oil held gains after closing at the highest level in more than 10 months on signs the global glut is contracting more quickly than projected. More »

Materia introduces new Proxima thermoset resin portfolio

Materia Inc., a leader in the development and manufacture of catalysts and advanced polymers, is pioneering the next generation of oil and gas solutions with Proxima thermoset resins. More »

LNG boom far from sight as Belgian imports decline to 8-year low

Liquefied natural gas imports by one terminal in Europe just fell to the lowest level in eight years as the region anticipates a boom that may see tankers lining up to dock on its shores. More »

U.S. shale, Canadian oil sands are twin pillars of North American energy security: IHS

According to a new IHS Energy report, Canadian oil sands, combined with the U.S. shale plays, have become the twin pillars of North American energy security. More »

U.S. shale plays and Canadian oil sands are the twin pillars of North American energy security

According to a new IHS Energy report, Canadian oil sands, combined with the U.S. shale plays, have become the twin pillars of North American energy security. More »

Oil rises to seven-month high as Abu Dhabi sees surplus easing

Oil advanced to a seven-month high in London as Abu Dhabi forecast prices could climb as high as $60/bbl amid a glut that’s dwindling more quickly than projected. More »

Saudi Arabia lifts oil pricing in show of confidence on demand

Saudi Arabia lifted oil pricing for Asian and U.S. customers, a sign the world’s biggest crude exporter is confident that demand is finally eroding a global supply glut. More »

Devon Energy sells non-core assets for nearly $1 billion

Devon Energy Corp. has entered into definitive agreements with undisclosed parties to monetize nearly $1 billion of non-core upstream assets in east Texas, the Anadarko basin and an overriding royalty interest in the northern Midland basin. More »

Devon Energy sells non-core assets for $1 billion

Devon Energy Corp. has entered into definitive agreements with undisclosed parties to monetize nearly $1 billion of non-core upstream assets in east Texas, the Anadarko basin and an overriding royalty interest in the northern Midland basin. More »

Aker Solutions wins umbilicals order for Egypt's Zohr field

Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea. More »

Amec Foster Wheeler wins India LNG import, regasification terminal contract

Amec Foster Wheeler has been awarded a contract by Indian Oil LNG Private Ltd. Co. (IOLPL) for the liquefied natural gas terminal in Ennore, Tamil Nadu, on the east coast of India. More »

Lukoil first-quarter profit drops 59% as crude prices slump

Lukoil PJSC, Russia’s second-largest oil producer, said first-quarter profit dropped 59% as crude prices declined to a 12-year low. More »

Oil near ‘sweet spot’ puts 70-year-old U.S. index back in focus

The oil market is turning its attention back to the U.S. as more of its rigs return to work following a surge to $50/bbl, raising concern that a production rebound may stifle crude’s recovery. More »

Shrinking crude surplus seen by Abu Dhabi underpinning oil rally

The global oil surplus is shrinking faster than expected and has the potential to send crude prices as high as $60/bbl this year, according to Ali Majed Al Mansoori, chairman of the Abu Dhabi Department of Economic Development. More »

Statoil awards Johan Sverdrup fabrication contract to Rosenberg WorleyParsons

Statoil has awarded Rosenberg WorleyParsons a contract for the fabrication of three large bridges connecting the four Johan Sverdrup platforms and two flare booms. More »

Kinder Morgan gets FERC approval for LNG export project

Kinder Morgan subsidiaries Elba Liquefaction Company (ELC) and Southern LNG Company (SLNG), have received authorization from the Federal Energy Regulatory Commission (FERC) for the Elba Liquefaction Project. More »

OPEC optimism masks challenge to oil’s rally from 12-year low

Oil’s recovery from a 12-year low may be too good to last as Iranian output rebounds faster than expected. More »