OPEC said to end first day of Vienna talks without a deal

OPEC ended its first day of meetings in Vienna without reaching a deal on country quotas, delegates who took part in the talks said. More »

Oil heads for weekly drop as OPEC meets to discuss output quotas

Crude in New York is set for the first weekly drop since mid-September as an OPEC committee meets to discuss how deeply some of its members should cut production to comply with the group’s pledge to reduce supply. More »

Chevron posts first profit in a year as oil inches higher

Chevron Corp. posted its first profit in a year as a recovery in energy prices halted a string of writedowns that have depressed the oil explorer’s results since late 2015. More »

Oceaneering and BP agree to two-year extension offshore Angola

Oceaneering International, Inc., has announced that a unit of BP has agreed to a two-year extension through January 2019, under the Field Support Vessel Services contract that was entered into with the Company for work offshore Angola on Blocks 18 and 31. More »

Oil India Limited signs MOU with University of Houston to increase production

Oil India Limited (OIL), an upstream oil and gas public sector utility, has entered into a Memorandum of Understanding (MOU) with the University of Houston (UH), with the intent of augmenting its reserves base and maximizing recovery from its aging oilfields. More »

Maersk Supply Service announces sale of two more vessels

As part of Maersk Supply Service’s recently announced divestment plans, Maersk Feeder and Maersk Fighter have been sold. More »

Exxon Mobil profit slides as oil-market slump threatens reserves

Exxon Mobil profit sank as the world’s largest publicly traded oil company posted its lowest production in seven years and warned the prolonged slump in energy markets may force a write off of 19% of its reserves. More »

GE discussing Baker Hughes partnership as slump endures

General Electric is holding discussions with Baker Hughes on potential partnerships that would bring together an industrial equipment behemoth with one of the oil industry’s largest service providers. More »

Shale Support receives National Mining Association safety award

Shale Support, a provider of frac-sands and logistical solutions to the oil and gas proppant market, received the Sentinels of Safety Award from the National Mining Association (NMA) during the annual Mine Expo in Las Vegas. More »

Oil and Gas UK publishes guidelines on HPHT wells

In line with its commitment to continually reviewing and improving the safety and performance of all aspects of well practices on the UK Continental Shelf (UKCS), Oil and Gas UK has released new guidelines on wells with HPHT properties. More »

Developing Arctic resources requires relationships with local stakeholders, say panelists

At the Arctic Technology Conference hosted by the OTC group of associations earlier this week in St. John’s, Newfoundland and Labrador, one group of panelists discussed how the industry must engage local stakeholders, if they hope to develop frontier areas successfully. More »

TGS to expand Africa multi-client library with new survey

TGS is to expand its NWAAM multi-client library in the MSGBC basin. The company is to acquire more than 11,500 km of long-offset broadband 2D seismic data as well as magnetic and gravity data in the Republic of Guinea, Guinea Bissau and the AGC joint exploration zone between Guinea Bissau and Senegal. More »

Brazil to join Russia, Kazakhstan in OPEC cooperation talks

Brazil, the fastest-growing oil producer outside OPEC, will join talks with the exporters group in Vienna on Saturday about potential cooperation. More »

Big Oil’s half-time report: Recovery is still some way off

Business is still looking pretty bleak for major oil companies halfway through their third-quarter earnings season. More »

Exxon’s Pacific LNG model seen as future for Canadian gas

Canada’s liquefied natural gas developers will band together and merge projects like producers in Papua New Guinea are trying to do as a price crash limits cash for individual export terminals, according to IHS Markit. More »

Baker Hughes talks don’t include ‘outright purchase,’ GE says

General Electric is in discussion with Baker Hughes on potential partnerships and the talks don’t include a full acquisition, a spokeswoman for the industrial behemoth said. More »

GE says Baker Hughes talks don’t include ‘outright purchase’

General Electric is in discussion with Baker Hughes on potential partnerships and the talks don’t include a full acquisition, a spokeswoman for the industrial behemoth said. More »

Weir announces results of SPM QEM 3000 frac pump, sales to Canyon Service Group

Weir Oil and Gas has announced significant milestones in the evolution of the SPM QEM 3000 frac pump: reaching more than 1,000 hr of pumping time in harsh conditions with minimal wear, resulting in the sale of a fleet to Canyon Services Group, Inc. More »

NOV reports $1.36-billion loss in third quarter

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Oil rises from three-week low on report Gulf nations may cut output

Oil rose from a three-week low following a report that Gulf nations may be willing to cut output as OPEC members weigh a deal to ease a supply glut. More »

Schlumberger expands Accenture agreement to 2021

Accenture has announced an expanded five-year agreement to provide Schlumberger with transformational finance and accounting (FandA) business process outsourcing (BPO) services through 2021. More »

Exxon Mobil in billion barrel discovery offshore Nigeria

Exxon Mobil Corporation today announced a significant discovery with a potential recoverable resource of between 500 MMbbl and 1 Bbbl of oil on Owowo field, offshore Nigeria. More »

Ingevity launches environmentally friendly solvents for drilling fluids

Ingevity has announced the introduction of EnvaSolv, a new line of biodegradable solvents to be used in oilfield applications. More »

Exxon Mobil announces significant oil discovery offshore Nigeria

Exxon Mobil Corporation today announced a significant discovery with a potential recoverable resource of between 500 MMbbl and 1 Bbbl of oil on Owowo field, offshore Nigeria. More »

Ingevity launches environmentally friendly solvents for oilfield drilling fluids

Ingevity has announced the introduction of EnvaSolv, a new line of biodegradable solvents to be used in oilfield applications. More »

Cnooc quarterly sales drop 15% as output falls with spending

Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a 15% fall in third-quarter sales as output declined with capital spending. More »

Husky Energy CEO Asim Ghosh to retire

Husky Energy has announced that President and CEO Asim Ghosh will be retiring effective Dec. 5, 2016. Ghosh will remain on the board of directors. More »

Akastor to sell Fjords Processing to NOV

Akastor ASA, an oil service investment company, has entered into a definitive agreement to sell Fjords Processing to National Oilwell Varco for a consideration of NOK 1,200 million on a debt- and cash-free basis. More »

Aker Solutions signs two subsea framework contracts with BP

Aker Solutions secured two five-year framework agreements for potential future deliveries of subsea production systems and lifecycle services at BP-operated oil and gas fields globally. More »

Statoil posts surprise loss on low oil prices, cuts spending

Statoil, the first of the major oil producers to report third-quarter earnings, posted an unexpected loss for a second quarter in a row as maintenance and exploration expenses compounded the impact of lower crude and gas prices. More »

OPEC can’t succeed alone as cuts would barely drain oil surplus

Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground. More »

Mexico's energy reform set to revitalize ailing sector and boost economy, IEA says

Mexico's wide-ranging energy reform, which began in 2013, is expected to reverse the country's declining oil production, increase the share of renewables in the power sector, and slow the growth in carbon emissions, providing a solid foundation for robust economic growth in the coming decades, according to the International Energy Agency. More »

Obama Admin officials express support for Arctic oil and gas development

Obama Administration officials and former leaders of U.S. Armed Forces expressed support for Arctic oil and gas development at an Atlantic Council event on Geopolitics, Security, and Energy in the Arctic, sponsored by the Arctic Energy Center, yesterday afternoon. More »

Mexico's energy reform is set to revitalise an ailing sector and boost the economy, IEA report says

Mexico's wide-ranging energy reform, which began in 2013, is expected to reverse the country's declining oil production, increase the share of renewables in the power sector, and slow the growth in carbon emissions, providing a solid foundation for robust economic growth in the coming decades, according to the International Energy Agency. More »

OPGAL offers new optical gas imaging technology for gas leak detection

OPGAL, a manufacturer of thermal imaging infrared cameras, is launching two new products to monitor and detect carbon dioxide (CO2) and carbon monoxide (CO) gas leaks in oil and gas and other heavy industries. More »

Rowan Joe Douglas jackup joins BP Trinidad and Tobago rig fleet

BP Trinidad and Tobago (bpTT) announced Wednesday that the Joe Douglas 240C jackup, which is owned and operated by Rowan Companies, has joined the bpTT rig fleet and has begun drilling at the bpTT Amherstia facility. More »

Baker Hughes introduces advanced small-diameter ESP system

Baker Hughes has announced the commercial release of its CENtrilift PASS slimline ESP system, which is designed to help operators optimize production and reserve recovery while lowering lifting costs in small-diameter wellbores or wells with restricted space due to casing patches or complex completion designs. More »

Honeywell, Flowserve to collaborate on Industrial IoT solutions

Honeywell and Flowserve will collaborate to provide Industrial Internet of Things (IIoT) solutions to help industrial customers make their operations, safer, more efficient and more reliable. More »

KBR, JGC America win FEED contracts for Woodfibre LNG project

Woodfibre LNG Limited, the privately held Canadian company behind the Woodfibre LNG project, has awarded two Front End Engineering and Design (FEED) contracts for the proposed project, located in the District of Squamish near Vancouver, British Columbia, Canada. More »

Mekers Offshore reports launch of liftboat in China

Mekers Offshore has successfully launched the first in a series of liftboats at Dajin Heavy Industries yard in Jiangsu, China. More »

Russia, Norway to exchange Barents Sea seismic data

The Norwegian Petroleum Directorate (NPD) and Russia’s Federal Subsoil Resources Management Agency (Rosnedra) have entered into an agreement to exchange seismic data from the areas around the demarcation line in the Barents Sea. More »

Saudi Arabia faces deeper cuts as Iraq opts out of OPEC deal

Saudi Arabia faces the prospect of much deeper—and financially painful—oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers. More »

Big Oil braces for profit pain as refining safety net slips

The world’s biggest oil companies, supported during crude’s collapse by a buoyant refining business, have lost that buffer as brimming fuel stockpiles swamp demand. More »

BP, Shell help lift oil-trading profitability to 6-year high

The trading arms of Royal Dutch Shell and BP enjoyed their best year ever in 2015, helping push the combined gross margins of oil merchants to a six-year high, according to a closely watched report. More »

Oil falls as U.S. supply seen rising while Russia resists cuts

Oil dropped for a third day after industry data showed U.S. crude stockpiles expanded as Russia reiterated it would prefer freezing output at current levels rather than cutting. More »

Clayton Williams transitions to pure play Permian operator with asset sale

Clayton Williams Energy has entered into a definitive purchase and sale agreement with a third party to sell substantially all of the company's assets in the Giddings Area in East Central Texas for a sale price of $400 million. More »

OPEC is at ‘hardest’ stage in its history, secretary-general says

OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market. More »

Honeywell to control Statoil's Valemon platform remotely from onshore location

Honeywell Process Solutions (HPS) has announced it will provide advanced automation and safety solutions to enable remote onshore operation for an unmanned offshore platform in the North Sea, reducing overall production costs and improving safety. More »

Wastewater disposal likely induced magnitude 5.1 Oklahoma quake: USGS

Distant wastewater disposal wells likely induced the third largest earthquake in recent Oklahoma record, the Feb. 13, 2016, magnitude 5.1 event roughly 32 km northwest of Fairview, Okla. More »

First phase of BP’s massive gas project in Oman nears completion

The first phase of BP Oman’s Khazzan natural gas project is 80% complete and on track to deliver first gas near the end of 2017, the company said in a statement. More »

Lukoil starts production at Siberia’s Pyakyakhinskoye field

Lukoil has started commercial production at Pyakyakhinskoye oil and gas condensate field in the Yamal-Nenets Autononous District, the company said Tuesday. More »

Oil trades near $50 as OPEC chief seeks to resolve output plan

Crude traded near $50/bbl as OPEC’s secretary-general was due to visit Baghdad for talks aimed at resolving disagreements on output after Iraq said it should be exempt from planned cuts. More »

DNV GL launches scheme to assure accuracy of gas flow metering in field conditions

Currently there is no independent technology qualification scheme available for high-end fiscal gas meters under field conditions. More »

CGG wins Pemex contract for Mexico’s Perdido area

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Statoil to cancel contract for Stena Drilling semisubmersible

Statoil has decided to cancel its contract for the Stena Don semisubmersible, the Norwegian operator said Tuesday. More »

Mexico, Brazil vie for Big Oil’s cash in offshore auctions

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Service companies slip into bankruptcy as oil prices rally too late

The rally in energy prices is coming too late to save some of the most troubled oil services companies. More »

Services companies slip into bankruptcy as oil prices rally too late

The rally in energy prices is coming too late to save some of the most troubled oil services companies. More »

Petrobras and Total form strategic alliance

Petrobras and Total inform that Pedro Parente, CEO of Petrobras, and Patrick Pouyanné, chairman and CEO of Total, have signed a Memorandum of Understanding (MOU) which sets the general framework for a Strategic Alliance covering upstream and downstream activities in Brazil, as well as international potential opportunities. More »

Arctic Iñupiat Offshore joins campaign calling for Alaska's Arctic to remain in federal leasing plan

Arctic Iñupiat Offshore (AIO) has announced that it is joining the Arctic Coalition, a collection of 21 Alaskan and nationwide organizations that support responsible energy development in and off the coast of Alaska. More »

Carrizo Oil and Gas acquires Eagle Ford properties for $181 million

Carrizo Oil and Gas has announced that it has agreed to acquire Eagle Ford shale properties from an affiliate of Sanchez Energy Corp. for $181 million in cash, subject to customary closing adjustments. More »

Danos expands presence in Permian basin

Danos is expanding its footprint in the Permian basin region, adding more office and shop space in order make its full range of services offerings available to customers in the area. More »

Norwegian regulator approves Ivar Aasen production start-up

The Norwegian Petroleum Directorate (NPD) has granted consent for the start of production from Ivar Aasen field in the North Sea. The operator, AkerBP, has scheduled output to start in December. More »

Norway greenlights Ivar Aasen production start-up

The Norwegian Petroleum Directorate (NPD) has granted consent for the start of production from Ivar Aasen field in the North Sea. The operator, AkerBP, has scheduled output to start in December. More »

InterMoor opens new custom-built base in Norway

IOS InterMoor, an Acteon company, has opened a new mooring base in Fensfjord, Norway. Located on the Wergeland Base in Sløvågen, the facility will cater to all requirements for mooring equipment storage, supply, inspection and maintenance for IOS InterMoor and its customers. More »

Iraq balks at joining OPEC cuts, making output deal harder

Iraq threw an obstacle in OPEC’s path toward a final deal to stabilize oil markets when it balked at joining efforts to trim output to prop up crude prices. More »

Rubicon Oilfield International acquires Logan International

Rubicon Oilfield International has completed the acquisition of all of the outstanding common shares of Logan International, a supplier of oilfield intervention and production tools, for C$1.59 per share. More »

Hoover, Ferguson and CCC complete merger transaction

Hoover Container Solutions, Ferguson Group and CHEP Catalyst and Chemical Containers (CCC), three global providers of container solutions products in the energy, petrochemical and general industrial markets, have finalized their merger to form the independent joint venture company, Hoover Ferguson Group. More »

Wood Group wins multiyear contract on Canada's Hibernia platform

Wood Group has secured a five-year contract to provide engineering, procurement, construction and maintenance services to the Hibernia platform, offshore Newfoundland, from Hibernia Management and Development Company. More »

Wood Group wins multiyear contract on Hibernia in Canada

Wood Group has secured a five-year contract to provide engineering, procurement, construction and maintenance services to the Hibernia platform, offshore Newfoundland, from Hibernia Management and Development Company. More »

Texas Alliance recognizes World Oil, Gulf Publishing for 100th Anniversary

Last week, at its final quarterly Wildcatters event for 2016 in Houston, the Texas Alliance of Energy Producers honored World Oil magazine and Gulf Publishing Company for their 100th Anniversary. More »

Russia’s rising oil-output forecasts give leverage in OPEC talks

As Russia gets ready for talks on cooperation with OPEC on Monday, it’s using the playbooks of Iran, Iraq and Venezuela to gain leverage. More »

Give U.S. a seat at OPEC output meeting, Venezuela says

Venezuelan President Nicolas Maduro wants to invite the U.S. to OPEC’s next meeting, saying the world’s biggest crude producer should be in on talks to stabilize global crude prices. More »