API: Arctic rule could inhibit innovation and U.S. energy leadership

API Upstream and Industry Operations Director Erik Milito issued the following statement on the U.S. oil and natural gas industry’s concerns with the Arctic Rules Package, issued by the Bureau of Safety and Environmental Enforcement (BSEE) and the Bureau of Ocean Energy Management (BOEM). More »

Suncor top dealmaker as CEO doubles down on oil-sands future

Suncor Energy Inc. is making the biggest bet on oil among the world’s largest producers, counting on recent purchases to help push costs lower while betting demand will outweigh supply. More »

Norway will keep the UK warm this winter with gas supply boost

Britons won’t have to worry about staying warm this winter and they have Norway to thank. More »

Petrofac appointed Well Operator for Hurricane Energy

Petrofac has been appointed Well Operator by Hurricane Energy in a three-year contract to support wells located West of Shetland. More »

Delmar uses rig anchor release acoustic tech on DP/moored capable rig

Delmar Systems has completed mooring operations and successfully installed Delmar OMNI-Max anchors with InterOcean’s proprietary Rig Anchor Releases (RARs) on each of the eight preset mooring lines on the semisubmersible MODU ENSCO 8503. More »

Petrofac’s Walter Thain to lead UK offshore efficiency drive

Walter Thain, managing director of Petrofac’s Engineering and Production Services (EPS) West business, is to lead the UK offshore oil and gas industry’s efficiency drive as chairman of the Oil and Gas UK Efficiency Taskforce (ETF). More »

Despite industry pleas, Obama imposes costly Arctic drill rules

Energy companies that hunt for crude in icy Arctic waters will have to stash extra equipment nearby and take other potentially costly steps meant to prevent oil spills in the fragile, remote region under regulations the Obama administration imposed Thursday. More »

Big Oil’s $45 billion of new projects signal spending revival

Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead. More »

Size isn’t everything anymore for world’s oil-service providers

The era of monster takeouts in the oil-services world took a further step back Thursday when National Oilwell Varco Inc. and GE Oil and Gas partnered up, reinforcing an industry-wide push for cost savings over size. More »

Faroe Petroleum awarded new license in Slyne/Erris basin, offshore Ireland

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal, development and production opportunities, has been awarded a new licence under Ireland’s 2015 Atlantic Margin Licensing Round. More »

Otto Energy acquires interest in Bivouac Peak lease, onshore Louisiana

Otto Energy has advised that it has exercised its option under the staged farm-in with Operator, Byron Energy Limited, to acquire a 45% working interest in the Bivouac Peak lease. More »

NOVATEK ships first LNG cargo from Trinidad and Tobago

OAO NOVATEK has announced that Novatek Gas and Power, a wholly owned trading subsidiary of NOVATEK, has supplied its first LNG cargo sourced from the Trinidad and Tobago LNG plant, to Chile, Port Quintero. More »

Oil falls after smaller-than-projected U.S. crude supply decline

Oil retreated after a government report showed U.S. crude stockpiles dropped by less than expected. More »

U.S. Energy Corp. to acquire interest in DJ basin developments

U.S. Energy Corp., a Wyoming corporation, has entered into a non-binding Letter of Intent (LOI) with IronHorse Resources LLC. pursuant to which the company expects to acquire a 40% interest in IronHorse Resource’s farmout agreement to participate in developing three core areas in the DJ basin's Wattenberg field, in Weld County, Colo. More »

Keppel Offshore and Marine wins four new contracts

Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore and Marine, has secured four contracts worth about S$120 million ($89 million) from repeat customers. More »

Statoil awards long-term frame agreement to ALTUS Intervention

Global well intervention provider ALTUS Intervention, a subsidiary of Qinterra AS, has secured a long-term frame agreement with Statoil for the delivery of mechanical wireline services. More »

Tullow wildcat strikes out in North Sea

Tullow Oil Norge has finished drilling exploration well 16/5-6 on the Rome prospect in production license PL776 in the Central North Sea. More »

Saipem wins Zohr work as it lands contracts worth over €1.5 billion

Saipem has been awarded new contracts and variation orders in EandC offshore, for an overall amount in excess of €1.5 billion. The most significant contract relates to the field development project for the supergiant Zohr gas field, located off the Egyptian coast in the Mediterranean Sea. More »

GE, NOV collaborate to digitize floating production

National Oilwell Varco and GE Oil and Gas announced today the execution of an agreement to collaborate on delivering integrated solutions for floating production storage and offloading vessels. More »

Tullow Oil tumbles after announcing $300-million bond sale

Tullow Oil tumbled the most since the global financial crisis almost eight years ago after announcing a $300 million sale of convertible bonds. More »

Libya to resume oil exports from biggest ports within a week

Libya will resume crude exports from two of its biggest oil ports within one week after clashes that forced Islamic State militants to pull out of the area, according to the commander of the petroleum guards in the region. More »

Lost generation of oil workers leaves few options for next boom

The oil industry is fighting a generation gap. More »

Seven Generations buys Alberta shale assets in C$1.9 billion Paramount deal

Seven Generations Energy Ltd. agreed to buy assets in Alberta’s Montney shale play from Paramount Resources Ltd. as it presses ahead with an expansion during the industry’s worst downturn in decades. More »

Blackhawk acquires surge reduction line from Allamon Tool Co., launches UltraSeal

Blackhawk Specialty Tools, LLC, has acquired the surge reduction business line of Allamon Tool Company and its related intellectual property. More »

Oil swings between gains, losses as traders weigh Brexit effect

Oil swung between gains and losses after falling to a one-week low as investors fled to haven assets on concern the UK’s vote to leave the European Union (EU) will hinder global growth. More »

Petrobras to sell nine shallow-water concessions

Petrobras is selling nine shallow-water concessions in the states of Ceará and Sergipe. More »

Norwegian Petroleum Directorate grants drilling permit to Wintershall Norge

The Norwegian Petroleum Directorate has granted Wintershall Norge AS a drilling permit for well 35/11-20 A, cf. Section 8 of the Resource Management Regulations. More »

Exxon said to join forces with Qatar for Mozambique gas assets

Exxon Mobil Corp. and Qatar Petroleum have teamed up to look at energy assets in Mozambique, home to some of the biggest natural gas discoveries in a generation. More »

DeepWell secures major Statoil contract

DeepWell has secured a long-term contract for the provision of mechanical wireline services to Statoil. More »

First Subsea wins contract for Shell’s deepwater Appomattox development

First Subsea, a subsea mooring specialist, has been awarded a contract by Shell Offshore to supply Ballgrab subsea mooring line connectors for the Appomattox development. More »

Neos, Lockheed Martin develop new sensor to seek out oil, gas

Neos and Lockheed Martin are building a unique sensor, which is so advanced it could find a 10-m tall hill buried 1 km below the earth's surface. More »

Restrata, Shetland FM join forces to expand North Sea response service

The HSE arm of Restrata, formerly known as Stirling Group, has formed a strategic partnership with Shetland Facilities Management (FM) to further expand its HR response service to companies operating in the Northern North Sea. More »

Record heat wiping out U.S. gas glut fuels best rally since ’08

A blistering start to summer is helping put U.S. natural gas futures on course for the biggest gain in eight years. More »

BP awards Bibby Offshore combined diving campaign

Bibby Offshore, a subsea services provider to the oil and gas industry, has secured an important contract with BP. More »

VAALCO executes agreement with Transocean regarding drilling program offshore Gabon

VAALCO Energy, Inc., has executed an agreement with Transocean Ltd., regarding the remaining contract term associated with the Constellation II rig utilized in the company’s recent drilling program offshore Gabon, which provides for payment of $5.1 million net to VAALCO’s interest for unused rig days under the contract. More »

Oil heads for biggest drop in five months amid ample supplies

Crude headed for the biggest decline in almost five months on a gloomy outlook for the world economy and signs that oil stockpiles remain ample. More »

World Economic Forum names GlassPoint Solar technology pioneer

GlassPoint Solar, the leading supplier of solar to the oil and gas industry, was named as one of the World Economic Forum’s Technology Pioneers, a selection of the world’s most innovative companies. More »

India demand surge overtakes LNG otherwise meant for Europe

India’s burgeoning demand for liquefied natural gas is dictating how many tankers make it to Europe, the world’s dumping ground for the fuel. More »

Libya oil comeback unlikely as political stalemate endures

The end of a split in Libya’s National Oil Corp. marks a small step toward healing the divided country, but the political stalemate that shut down of most of its crude production is as entrenched as ever. More »

U.S. producers are threatening to boost output yet again

Shale producers are tapping their crown jewel assets in response to the latest oil price rally, according to Morgan Stanley. More »

Wood Group, Librestream Technologies form collaboration to deliver efficiency-enabling technical solutions

Wood Group has signed a collaborative agreement with the Canadian technology company Librestream Technologies. More »

Noble sells 3% interest in Tamar field, offshore Israel, for $369 million

Noble Energy has signed a definitive agreement to divest a 3% working interest in Tamar field, offshore Israel, to the Harel Group, a leading insurance provider and pension manager in Israel, in partnership with Israel Infrastructure Fund (IIF), Israel's largest infrastructure private equity fund. More »

Atlas Copco acquires Norwegian offshore compressed air rental business

Atlas Copco has acquired the operating assets of Roxel Rental AS, a supplier of temporary air solutions for the Norwegian offshore industry. More »

New rival seen in Mediterranean gas race ‘before it’s too late’

Lebanon may soon approve measures to push ahead with a stalled first auction of offshore oil and natural gas rights, ending years of political wrangling as it tries to catch up in a regional race to tap energy wealth in the eastern Mediterranean. More »

World’s top oil trader says prices won’t rise much further

Oil prices won’t rise much further over the next year and a half as demand growth slows and refiners comfortably meet gasoline consumption, according to the world’s largest independent oil-trading house. More »

Chevron approves $37-billion expansion of Kazakh oil project

Chevron Corp. will go ahead with the $36.8-billion expansion of the Tengiz oil project in Kazakhstan, one of the biggest new investments since crude’s slump two years ago. More »

OPEC crude production rises in June led by gains in Nigeria

OPEC’s crude production increased in June as Nigeria raised output following repairs to some infrastructure that had been damaged by militant attacks. More »

U.S. now holds more oil reserves than Saudi Arabia: Rystad

A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the U.S. now holds more recoverable oil reserves than both Saudi Arabia and Russia. More »

TWMA secures North Sea contract with Apache

Integrated drilling waste management and environmental services firm, TWMA, has recently secured a £1.5-million ($1.9-million) contract with Apache on the WilPhoenix platform in the North Sea Beryl field. More »

Oil deficit dalliance seen ending as disrupted crude returns

The oil market surplus that vanished last quarter, helping prices post the best quarter in seven years, may return as early as this month as disrupted supply starts to pump again. More »

Oil rally threatened as gasoline supply surge swamps U.S. demand

American drivers’ seemingly insatiable thirst for gasoline is running into a flood of supply. More »

Russian oil exports set for record as Europe competition grows

Russian crude exports are on track to set a record this year, which is intensifying competition in Europe as Iran boosts shipments to the region. More »

Nigerian oil militants claim 5 attacks in blow to cease-fire

Niger Delta Avengers, a militant group operating in Nigeria’s southern oil-producing region, said it attacked five crude-pumping facilities overnight Sunday, dealing a blow to the government’s effort to enforce a cease-fire. More »