Three new oil sands developments receive initial approval following Regulator review

Three new proposed oil sands developments have cleared an important early step in the regulatory process. More »

Fund manager who foresaw price plunge stays bullish on oil, predicting ‘hefty’ drop in supply

Pierre Andurand, the hedge fund manager who foresaw oil’s plunge in 2014, says he expects a “hefty" decline in global crude stockpiles next year that should drive prices higher. More »

Tullow Oil confirms discovery at North Sea's Cara prospect

Tullow Oil plc is pleased to announce that drilling and testing of the Cara prospect in licence 636 in the Norwegian North Sea has been completed. More »

Statoil completes sale of non-core U.S. onshore assets

On Sept. 15, Statoil and Antero Resources Corporation completed their previously announced transaction, whereby Statoil has sold some of its non-operated interests in the U.S. state of West Virginia to Antero. More »

Tullow Oil confirms discovery at the North Sea's Cara prospect

Tullow Oil plc is pleased to announce that drilling and testing of the Cara prospect in licence 636 in the Norwegian North Sea has been completed. More »

Against all odds, North Sea proves resilient to oil-price slump

Oil producers in the North Sea were supposed to be among the first victims of OPEC’s battle for market share. Instead their high-cost, decades-old facilities are proving surprisingly resilient to the price slump. More »

Statoil awards Troll B contract to Aker Solutions

Statoil has decided to exercise the option for engineering, procurement, construction and installation (EPCI) of a gas module that will increase gas processing capacity on the Troll B platform. More »

Maersk Supply Service awarded contract for North Sea’s Janice field

Maersk Supply Service has been awarded a contract to provide decommissioning services for Janice field in the North Sea for Maersk Oil UK. Maersk Supply Service will assume responsibility for engineering, project planning and managing the scope of the subsea decommissioning. More »

Frank’s International casing running tool deployed in industry’s first 30-in. CwD job

In a project that established a new worldwide milestone in casing while drilling (CwD) operations, Frank’s International provided its FA-1 casing running tool (CRT), modified for 30-in. casing drilling and running, to Schlumberger for a 30-in. CwD shallow water project in the Bay of Campeche, Gulf of Mexico. More »

ENGIE's Cara prospect proves pay offshore Norway

Tullow Oil announced Friday that the drilling and testing of the Cara prospect, in license 636 in the Norwegian North Sea, has been completed. More »

Endeavor Management completes initial Subsea Decommissioning JIP

Endeavor Management has announced the completion of its initial Subsea Decommissioning Joint Industry Project (JIP), which was initiated last year and funded by seven operators and five service companies. More »

Statoil awards Troll B gas module contract to Aker Solutions

Statoil has decided to exercise the option for engineering, procurement, construction and installation (EPCI) of a gas module that will increase gas processing capacity on the Troll B platform. More »

Maersk Supply Service awarded decommissioning contract for North Sea’s Janice field

Maersk Supply Service has been awarded a contract to provide decommissioning services for Janice field in the North Sea for Maersk Oil UK. Maersk Supply Service will assume responsibility for engineering, project planning and managing the scope of the subsea decommissioning. More »

Chesapeake bondholders owed $440 million on appeals court ruling

Chesapeake Energy owes bondholders $440 million for improperly redeeming a 2012 bond issue early, a U.S. appeals court said in upholding a ruling that dealt another blow to the second-largest natural gas producer in the country. More »

Andurand stays bullish on oil, predicting ‘hefty’ drop in supply

Pierre Andurand, the hedge fund manager who foresaw oil’s plunge in 2014, says he expects a “hefty" decline in global crude stockpiles next year that should drive prices higher. More »

Crude glut belies risk from OPEC’s dwindling output cushion

As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages. More »

Noble, Marathon said to weigh bids for Permian’s Silver Hill

Noble Energy and Marathon Oil Corp. are weighing bids for Silver Hill Energy Partners, a Permian basin explorer that could fetch more than $2 billion in a sale, according to people familiar with the matter. More »

RockPile Energy Services targets Bakken workovers with AWS acquisition

RockPile Energy Services, a portfolio company of White Deer Energy, has acquired American Well Service (AWS), a Kenmare, North Dakota-based workover rig company. More »

Netherlands approves stricter caps at Groningen gas field

Europe’s largest natural gas field may only produce less than half of what it did four years earlier as the Netherlands seeks to reduce the risk of earthquakes linked to output. More »

ONGC Videsh raises stake in Vankor field in East Siberia

ONGC Videsh has signed definitive agreements with Rosneft to acquire an additional 11% stake in JSC Vankorneft, which is the owner of Vankor field and the North Vankor license. More »

Tap Oil completes drilling of appraisal well MNA-17 in the Northern Gulf of Thailand

Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that drilling of the MNA-17 well, in the Northern Gulf of Thailand, has now been completed. More »

The Netherlands approves stricter caps at Europe’s largest gas field

Europe’s largest natural gas field may only produce less than half of what it did four years earlier as the Netherlands seeks to reduce the risk of earthquakes linked to output. More »

Offshore drillers brace for more pain even with bottom in sight

Offshore drilling contractors, grappling with the biggest industry downturn in a generation, say they finally have the bottom in sight. The problem is, they could be stuck there for a long time. More »

Eni enters Montenegro’s upstream with award of four blocks

Eni has signed a Concession Contract with the government of Montenegro related to the exploration of four blocks in the country’s offshore. More »

M-I SWACO gets green light for barite mine in Scotland

Proposals to develop a world-class barite resource at Duntanlich, Scotland, have been approved, subject to conditions, by the local authority. More »

Wintershall in discovery near North Sea’s Vega field

Wintershall Norge, operator of production license 248 F, is in the process of completing the drilling of four wells in the North Sea. More »

Team Oil Tools acquires top Notch Energy Services

Team Oil Tools has acquired the assets of Top Notch Energy Services. More »

Talks to sell 20% of North Sea field to Delek end, EnQuest says

EnQuest has ended talks to sell a 20% stake in Kraken field in the North Sea to Delek Group. More »

Goldman sees oil staying below $50 as surplus lingers

Don’t count on a big rally in crude oil, said Jeff Currie, head of commodities research at Goldman Sachs Group. Or any rally, for that matter. More »

Global oil glut set to worsen as Nigeria, Libya fields restart

Amid the most enduring global oil glut in decades, two OPEC crude producers whose supplies have been crushed by domestic conflicts are preparing to add hundreds of thousands of barrels to world markets within weeks. More »

ONGC Videsh to acquire additional interest in Vankor field in East Siberia

ONGC Videsh (and its wholly owned subsidiary ONGC Videsh Vankorneft Pte. Ltd., Singapore – OVVL) jointly signed definitive agreements with Rosneft, the national oil company of Russia for acquiring additional 11% shares in JSC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor field and North Vankor license. More »

RockRose Energy acquires interest in UK North Sea's Scott and Telford fields

RockRose Energy has announced that it has agreed non-binding headline terms and a period of exclusivity from Maersk Oil North Sea UK to acquire its non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields. More »

GE Oil and Gas wins contract for third train at BP's Tangguh LNG facility

GE Oil and Gas has been awarded a contract to supply gas turbine-driven compressors for a third natural gas liquefaction train for the Tangguh expansion having provided the original equipment for Trains 1 and 2 when the plant was first established. More »

Suncor CEO sees more volatile oil price in coming years

Oil prices will become more volatile after next year amid under-investment in production and uncertain growth in demand, Suncor Energy CEO Steve Williams said. More »

GE Oil and Gas awarded contract by BP for third natural gas liquefaction train in Tangguh expansion

GE Oil and Gas has been awarded a contract to supply gas turbine-driven compressors for a third natural gas liquefaction train for the Tangguh expansion having provided the original equipment for Trains 1 and 2 when the plant was first established. More »

Exxon Mobil launches Mobil Serv Lubricant Analysis to the oil and gas sector

Exxon Mobil has launched Mobil Serv Lubricant Analysis, a new mobile-enabled used oil analysis service. More »

Oil erases decline as EIA reports surprise inventory drop

Crude oil erased a decline in New York after the Energy Information Administration said U.S. inventories declined last week. More »

Kvaerner awarded more work on Statoil’s Njord platform

Statoil has made a call-off from the framework agreement for upgrading of its Njord A semi-submersible platform. More »

PGS, TGS jointly acquire Dolphin Multi-Client library

PGS and TGS-NOPEC Geophysical Company have jointly agreed principal terms and conditions for the purchase of a majority of the MultiClient library of Dolphin UK Ltd. PGS and TGS will make this purchase on a 50/50 basis. More »

Eni pledges fewer mishaps on Goliat platform in safety shake-up

Eni is shaking up safety measures at the Goliat platform in Norway’s Arctic in a bid to draw a line under a series of incidents that have hurt production at the world’s northernmost offshore oil field, giving ammunition to opponents of drilling in the region. More »

ITF launches JIP to increase speed, cut costs of reservoir characterization

The Industry Technology Facilitator (ITF), together with Energie Beheer Nederland (EBN) and Petroleum Development Oman (PDO), has launched a joint industry project (JIP) which will reduce time and costs for oil producers to determine whether gas fields are economically viable. More »

Patterson-UTI to acquire drilling technology company Warrior Rig

Patterson-UTI Energy has entered into an agreement to acquire Warrior Rig Ltd. and certain related entities. More »

Ophir starts production from Indonesia’s Kerendan field

Ophir Energy, a UK-based independent, has commenced commercial production from Kerendan field in Indonesia. More »

PGS, TGS jointly acquire Dolphin MultiClient library

PGS and TGS-NOPEC Geophysical Company have jointly agreed principal terms and conditions for the purchase of a majority of the MultiClient library of Dolphin UK Ltd. PGS and TGS will make this purchase on a 50/50 basis. More »

Clariant bolsters production chemicals business with acquisitions

Clariant has announced two acquisitions in the oilfield production chemicals business. After closing, the agreed purchases of Kel-Tech and X-Chem will add about $200 million of sales, as well as personnel, technology and expertise to the company’s existing activities in North America. More »

Oil industry may cut spending for third year in row, IEA says

The oil industry may cut spending for a third straight year in 2017 as lower costs kick in and companies continue to grapple with weaker finances because of crude’s slump. More »

Calfrac weighs entry into big oil regions such as Saudi, Permian

Calfrac Well Services, the Canadian oilfield services provider, is considering expansion opportunities into two of the world’s largest producing regions. More »

Oil rebounds as API data shows modest stockpile build

NEW YORK (Bloomberg) -- Oil rebounded after industry data showed a smaller-than-expected build in U.S. crude inventories. More »

Billionaire Tenaris owner sees oilfield supply MandA as prices recover

The billionaire owner of Tenaris sees scope for consolidation in the industry with drilling activity and oil prices set to recover. More »

BP seeking more investment opportunities in Argentina shale

BP Plc would rather invest in Argentina’s shale oil fields than in Texas’ Permian basin, the U.S. drilling hot spot, CEO Bob Dudley said. More »

Saudi Arabia ousts U.S. as biggest oil producer, IEA says

Saudi Arabia has retaken the position of the world’s top oil producer from the U.S., according to the International Energy Agency. More »

Kashagan field seen taking another decade to reach target

Kazakhstan’s giant Kashagan oil field has taken 16 years and more than $50 billion to bring to the verge of production. It could take another decade to reach its potential, with initial output at half the forecast level. More »

Nexans wins contract for BP’s West Nile Delta project

BP Exploration (Delta) Limited has ordered approximately 100 km of static umbilicals and associated accessories from Nexans for the next stage of the West Nile Delta project. More »

Ophir stats production from Indonesia’s Kerendan field

Ophir Energy, a UK-based independent, has commenced commercial production from Kerendan field in Indonesia. More »

Zenith Energy wins well management contract with UK operator

An Aberdeen-based well engineering and project management company has secured a significant new contract with a UK operator. The contract will see the company provide a full management service for an onshore exploration well in the Weald basin. More »

Scottish university to advise Mexico on oil, gas skills development

Robert Gordon University (RGU) in Aberdeen has been awarded funding to create a skills development framework for the oil and gas sector in Mexico. More »

Aker Solutions, Det norske, Subsea 7 form development alliance in Norway

Aker Solutions, Det norske oljeselskap and Subsea 7 have agreed on a "one for all, all for one" collaboration model that marks a major shift in how an operator and its suppliers can work together on oil and gas developments offshore Norway. More »

Oil map redrawn as cheap tankers make crazy voyages profitable

From Norway to the Bahamas, from Algeria to Australia. Ultra-low crude prices combined with cheap shipping rates are encouraging a host of exotic new oil trading routes that wouldn't look out of place in the latest travel brochures. More »

Libya’s oil comeback derailed as former general seizes ports

Libya’s plans to restore oil production suffered a significant setback after forces loyal to the eastern region’s powerful military commander ousted government-backed fighters from key export terminals, just days before a tanker was due to load the first shipment in nearly two years. More »

IEA sees oil oversupply persisting in 2017

The surplus in global oil markets will last for longer than previously thought, persisting into late 2017, as demand growth slumps and supply proves resilient, the International Energy Agency said. More »

Over 5,000 DUCs await completion in U.S., EIA says

The U.S. Energy Information Administration’s (EIA) monthly Drilling Productivity Report (DPR), released Monday, now includes a supplement that provides monthly estimates of the number of DUCs in the seven key oil and natural gas producing regions covered by the report. More »

U.S. natural gas rallies again in August, IHS Markit says

U.S. natural gas production levels in the lower 48 states increased by about 1.4% in August 2016 compared to July 2016 levels, according to analysis from IHS Markit. More »

Anadarko buys deepwater Gulf assets from Freeport for $2 billion

Anadarko Petroleum Corp. agreed to buy deepwater Gulf of Mexico assets from Freeport-McMoRan Oil and Gas for $2 billion. More »

U.S. natural gas rallies again in August, up nearly 1.4% compared to July, IHS Markit says

U.S. natural gas production levels in the lower 48 states increased by about 1.4% in August 2016 compared to July 2016 levels, according to analysis from IHS Markit, a world leader in critical information, analytics and solutions. More »

Endeavor Management announces best practices for the FPSO industry

Endeavor Management has opened participation in its latest Joint Industry Project (JIP)—Best Practices for the FPSO Industry. More »

Eni boosts Nooros production to 128,000 boed just 13 months after discovery

Output from Egypt’s Nooros field has reached 128,000 boed (700 MMcfgd) just 13 months after its discovery, Eni said in a statement announcing the production landmark. More »

Oil extends drop as U.S. drillers return, OPEC sees more supply

Oil extended declines following the biggest drop in more than a month after U.S. producers increased drilling and OPEC boosted its estimate for rivals’ output next year. More »

EandP debt recoveries hit ‘catastrophic’ level, Moody’s says

Creditors of EandP companies that went bankrupt last year recouped less than half the usual amount for their claims, and 2016 is shaping up just as bad, according to Moody’s Investors Service. More »

Stripper wells still vital for U.S. production, energy security

The Interstate Oil and Gas Compact Commission (IOGCC) has released the 2015 Marginal Well Report that documents marginal well activity and the economic contribution of marginal production in the U.S. More »

Ichthys LNG project reaches milestone with startup of offshore power generators

The INPEX-led Ichthys LNG project has reached a key milestone with both its central processing facility (CPF) and FPSO facility safely starting up their main power generators in the South Korean shipyards where they are being constructed. More »

Dakota pipeline’s fate may hinge on next president after setback

The Obama administration halted work on a stretch of land where Energy Transfer Partners is building its Dakota Access oil pipeline, a move that could threaten to thrust the fate of the project into the hands of the next president. More »

CNOOC’s Weizhou 6-9/6-10 comprehensive adjustment project starts production

CNOOC’s Weizhou 6-9/6-10 comprehensive adjustment project has commenced production, the company said Monday. More »

Statoil awards NCS supply contract to Kraemer Maritime

Statoil has awarded Kraemer Maritime a contract to supply provisions for the company’s installations on the Norwegian Continental Shelf. More »

OPEC flips forecast to predict rebound in rival supply next year

OPEC flipped its forecasts for rival supplies in 2017, predicting an increase in output from outside the group instead of a decline, the latest sign that the global surplus is persisting. More »

Oil bears dominate market as doubt grows over output limits

The longer OPEC and other producers talk about a ceiling on crude output, the more doubts grow in the market. More »

Trump camp's call for oil freeze will be ignored by OPEC: Column

Energy adviser to Donald Trump, CEO of Continental Resources, Harold Hamm has history with OPEC. More »