Attempted coup in Turkey may imperil crude transport in region

The attempted coup in Turkey may boost oil prices by imperiling crude shipments through the country, a major energy-trade corridor. More »

Oil patch buying time with stock sales as bust drags on

U.S. oil and gas producers are selling shares at record speed, a sharp turnaround from past years when debt markets were the industry’s favored source of cash. More »

Baker Hughes, Tier 1 Energy Solutions partner in Western Canada

CALGARY, Alberta -- Tier 1 Energy Solutions has entered into an exclusive partnership with Baker Hughes in Western Canada. More »

Faroe Petroleum to acquire North Sea assets from DONG EandP Norge

Faroe Petroleum has conditionally agreed to acquire a package of interests in producing Norwegian oil and gas assets from DONG EandP Norge. More »

Fire that engulfed WPX Energy oil production facility now out

A fire at a WPX Energy oil production facility in San Juan County, NM, is out, according to a statement released by the company. More »

Luxe Energy to sell Southern Delaware basin assets

Luxe Energy has entered into a definitive agreement with an undisclosed third party buyer for the purchase of Luxe's Southern Delaware basin leasehold interests and related assets for an aggregate purchase price of $560 million, subject to certain closing adjustments. More »

BOEM clamps down on OCS decommissioning obligations with new requirements

The U.S. Bureau of Ocean Energy Management (BOEM) has notified companies holding oil and gas leases in federal waters that it is updating financial assurance and risk management requirements to ensure that taxpayers never have to pay for decommissioning and removing a company’s offshore production facilities. More »

BOEM updates financial assurance, risk management requirements for offshore leases

The U.S. Bureau of Ocean Energy Management (BOEM) has notified companies holding oil and gas leases in federal waters that it is updating financial assurance and risk management requirements to ensure that taxpayers never have to pay for decommissioning and removing a company’s offshore production facilities. More »

Oil rises as Exxon declares force majeure on Nigeria exports

Oil rose as Exxon Mobil Corp. declared force majeure on shipments of Nigeria’s biggest crude export grade. More »

Fugro awarded geotehnical site investigation contract by ONGC India

Fugro has been awarded a geotechnical site investigation contract by ONGC India for the KG-DWN-98/2 project on the East Coast of India. More »

Woodside awards OneSubsea integrated EPC contract for Greater Enfield project

OneSubsea, a Schlumberger company, has been awarded an engineering, procurement and construction contract totaling approximately $300 million from Woodside Energy Ltd. More »

Horizontal drilling seen key to boosting output from tight conventional reservoirs

A new study indicates there is significant upside potential for U.S. oil and gas operators to apply lower-cost unconventional drilling and completion technologies to boost production from tight conventional reservoirs, according to analysis from IHS Markit. More »

BP raises Deepwater Horizon spill liability by $5.2 billion

BP has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax. More »

Faltering oil recovery prompts warnings of a relapse to $40

Oil fell in New York amid forecasts crude may slide toward $40/bbl on oversupply concerns. More »

Oil falls in New York amid forecasts for $40 on glut concerns

Oil fell in New York amid forecasts crude may slide toward $40/bbl on oversupply concerns. More »

CNOOC cutbacks at Long Lake oil-sands site caps years of trouble

CNOOC Ltd.’s decision this week to idle part of its Long Lake oil-sands operation in Alberta comes after five years of problems cemented the site’s reputation as one of the most troubled projects in the region. More »

AFGlobal to acquire Managed Pressure Operations

AFGlobal Corporation has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth. As a vertically integrated supplier, this acquisition solidifies the company’s position as a specialized original equipment manufacturer. More »

Baker Hughes expands e-commerce portal

Baker Hughes has significantly expanded its ShopBakerHughes.com e-Commerce portal, which allows customers to purchase online the same products Baker Hughes uses in providing its oilfield services. More »

Keppel AmFELS delivers fifth jackup to Mexico’s Perforadora Central

More »

Laredo Petroleum acquires bolt-on Midland basin acreage

Laredo Petroleum has signed a purchase and sale agreement for additional acreage within the company's existing footprint in the Midland basin for $125 million. More »

Traders hoarding most oil since 2009 amass North Sea fleet

Oil traders increased the fleet of ships deployed in the North Sea to store crude, the latest sign of faltering demand that has triggered the biggest buildup of stockpiles at sea since 2009. More »

Devon Energy sells Access Pipeline stake for C$1.4 billion

Devon Energy Corp. has entered into a definitive agreement to sell its 50% ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for C$1.4 billion. More »

Marathon Oil achieves first gas from Alba B3 compression platform offshore Equatorial Guinea

Marathon Oil has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea. More »

Gulf Keystone creditors to take control following oil slump

Gulf Keystone Petroleum Ltd. creditors will take control of the oil producer after low crude prices and erratic export payments left the company unable to service debts. More »

ConocoPhillips sells Senegal assets to Woodside in $350-million deal

ConocoPhillips has entered into an agreement to sell its 35% interest in three exploration blocks offshore Senegal, which include the SNE and FAN discoveries. More »

Shawcor wins contract to provide pipe coating services for Tuxpan pipeline project

Shawcor Ltd. announced that its pipe coating group has received a conditional contract worth approximately C$300 million from Infraestructura Marina del Golfo (IMG), to provide pipeline coating solutions to the Comisión Federal de Electricidad (CFE) Sur de Texas - Tuxpan gas pipeline project. More »

InterOil said to get Exxon buyout offer topping Oil Search

Exxon Mobil Corp. made an indicative takeover proposal for InterOil Corp. that topped a competing $2.2-billion bid for the owner of trillions of cubic feet of natural gas discoveries in Papua New Guinea, a person with knowledge of the matter said. More »

U.S. tight oil is biggest winner of cost cutting, Wood Mac says

The collapse in oil prices in 2014 left many planned oil investments with high costs and not commercially viable. Two years on, and the industry has started to adapt to lower oil prices, cutting costs, and getting more projects over the economic threshold. More »

Weatherford deep-set safety valve achieves V1 rating

Weatherford International's new model WUDP-10 deep-set safety valve has been certified to V1 standards under the American Petroleum Institute (API) Specification 14A. More »

McClendon’s Permian assets said to be snapped up by investors

Distressed-debt investors including Leon Black’s Apollo Global Management LLC have snapped up much of the debt of Permian Resources, with an eye to potentially capturing control of the oil and gas producer started in 2014 by the late Aubrey McClendon, people familiar with the matter said. More »

UK awards PGS, WesternGeco contracts for new seismic campaign

The OGA has awarded contracts for the second government-funded £20 million ($26.5 million) seismic campaign to promote underexplored areas of the UK Continental Shelf. More »

Oceaneering, Heerema Marine Contractors in ROV agreement

Oceaneering International has entered into a Master Service Agreement with Heerema Marine Contractors Nederland (HMC) through December 2020. More »

Apache awards subsea master service agreement extension to Wood Group

Wood Group has been awarded an extension to its master service agreement (MSA) contract with Apache Corporation in the North Sea. More »

Venezuela’s oil production fell to 13-year low in June, IEA says

More »

Oil retreats after industry data show U.S. stockpiles expanding

Oil fell after the biggest gain in three months as U.S. industry data showed the nation’s crude stockpiles increased, adding to concerns about oversupply. More »

IEA sees record Middle East oil supply while U.S. output slumps

Oil production from the Middle East has climbed to a record while U.S. output slumps, the International Energy Agency said, in a sign that OPEC’s strategy of defending market share is succeeding. More »

Oil seen by Kuwait trading as high as $60 until at least 2018

Crude oil will rise to a range of $50 to $60/bbl until at least 2018 as demand increases and markets absorb an oversupply that’s led to lower prices over the last two years, according to the acting oil minister of OPEC member Kuwait. More »

Petrobras' Lula field is eighth in the Santos basin pre-salt

Petrobras has announced the start-up of the Lula Central production system, with the interconnection of the first production well (8-LL-81D-RJS) to FPSO Cidade de Saquarema, on July 8, and the production stabilization at around 30 Mbpd on July 11. More »

Data gap whipsaws oil prices on differing views of stockpiles

Oil traders don’t know who to follow these days. More »

Nexen to cut 350 jobs in Canada after oil-sands upgrader blast

Cnooc Ltd.’s Nexen Energy unit will eliminate 350 jobs this year after deciding not to repair its Long Lake oil-sands upgrader in northern Alberta following an explosion in January. More »

Premier Oil jumps in London as Brexit cuts costs in Sterling

Premier Oil rose the most this month in London trading after saying it’s benefiting from a decline in the British pound following the UK’s vote to leave the European Union. More »

Searcher kicks off 2D seismic survey offshore Mexico

The BGP Pioneer has commenced acquisition of the Buscador near-shore 2D seismic survey, offshore Mexico, Searcher Seismic said in a statement. More »

Searcher Seismic starts 3D reprocessing project in Australia

Searcher Seismic’s Olympus 3D Reprocessing Project in the Carnarvon basin, Western Australia, has commenced processing at DownUnder GeoSolutions’ Perth facility. More »

Amec Foster Wheeler wins North Sea contracts from Repsol Sinopec

Amec Foster Wheeler has been awarded two long-term major services contracts as part of Repsol Sinopec Resources UK’s long-term transformation and long-term commitment to the North Sea. More »

Dril-Quip wins $40-million subsea contract

Dril-Quip’s wholly owned subsidiary Dril-Quip Asia Pacific Pte Ltd, in conjunction with its local representative, was awarded a contract in late June valued at approximately $40 million to supply subsea drilling and production equipment and related services to Kangean Energy Indonesia Ltd., a contractor for SKK Migas. More »

OPEC sees rising crude demand in 2017 as Saudis pump near record

OPEC forecast higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption. More »

Aker Solutions wins Vietnam contract from Idemitsu Oil and Gas

Aker Solutions has secured a contract from Idemitsu Oil and Gas Co., Ltd. to provide engineering services for the development of oil and gas resources in the Nam Con Son basin, offshore Vietnam. More »

Shell-led group delays decision on Canada gas export plan

Royal Dutch Shell Plc and its partners delayed for the second time this year a final investment decision on a terminal to export liquefied natural gas from Canada’s Pacific Coast to Asian markets. More »

Return of oil contango shows price recovery to be bumpy ride

On the surface, the recovery of the global oil market is firmly in place, signaling an end to two years of oversupply and collapsing prices. However, one key indicator is warning of turbulence ahead. More »

Falling U.S. oil output not enticing enough for wary investors

Not even a sharp decline in U.S. oil production can convince investors that crude prices are ready to rebound. More »

Halliburton introduces rapid intervention package with capping stack for subsea applications

Boots and Coots Services, a Halliburton business, announced that it has developed a global rapid intervention package (GRIP), a suite of services to help reduce costs and deployment time in the event of subsea well control events. More »

Reopening Libya oil ports is newly unified NOC’s ‘top’ priority

Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman. More »

Forum Energy Technologies nets order for three ROVs

Forum Energy Technologies has received an order from New Orient Marine Pte. Ltd, to supply three remotely operated vehicles (ROVs) for its multi-purpose ice-class vessel currently under construction in Singapore. More »

NPD approves Tambar facility extension for BP

The Norwegian Petroleum Directorate is giving the green light to use the facility on Tambar field in the North Sea until Jan. 1, 2022. More »

Exxon Mobil granted consent to start subsea facility on Balder field

The Norwegian Petroleum Directorate has granted Exxon Mobil, operator and sole licensee in production license 001, consent to start-up a subsea facility for production well 25/11-E-29 AH on Balder field. More »

Faroe confirms Brasse discovery with side-track appraisal well

Faroe Petroleum has completed a successful side-track appraisal well on the Brasse discovery in license PL740 in the Norwegian North Sea. More »

Statoil completes sale of W.Va. Marcellus assets to EQT

Statoil has completed the sale of its non-core operated assets in the U.S. state of West Virginia to EQT Corporation. More »

N-Sea strengthens Middle East presence with new Dubai office

N-Sea, a subsea IMR provider, is opening of a new office in Dubai, with operations due to commence as early as August. More »

UTEC completes major project in deepwater Gulf of Mexico

UTEC Survey, an Acteon company and one of the world’s largest independent offshore and onshore survey providers, has completed a significant ROV navigation and seismic node positioning project in the deepwater Gulf of Mexico. More »

Oil price seen stable even as Iran plans to boost crude exports

Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co. More »

Oil falls to two-month low as U.S. drillers boost operations

Oil dropped to a two-month low after U.S. producers deployed the most rigs since April, signaling that output losses that trimmed a global glut may slow. More »