Oil and Gas News Archive
Tue 17 Jan 2017 Anadarko to Sell Eagle Ford Assets in $2.3-billion Deal
Published: 23:00 on Tue 17 Jan 2017 in Oil Industry News.
Anadarko Petroleum has agreed to sell its Eagle Ford shale assets in South Texas for approximately $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP.Anadarko's sponsored master li...
Tue 17 Jan 2017 ConocoPhillips Reports Major Discovery in Alaska
Published: 22:00 on Tue 17 Jan 2017 in Oil Industry News.
ConocoPhillips Alaska has made a new oil discovery in the Greater Mooses Tooth (GMT) Unit located in the northeastern portion of the National Petroleum Reserve–Alaska (NPRA).The Willow discovery wells...
Tue 17 Jan 2017 As OPEC Acts on New Year’s Resolution, U.S. Shale Pumps Away
Published: 20:00 on Tue 17 Jan 2017 in Oil Industry News.
U.S. shale is getting in the way of a New Year’s resolution by OPEC to cut production and boost the market.Producers and merchants increased their bets on lower West Texas Intermediate crude prices to...
Tue 17 Jan 2017 Lloyds Energy Files LNG Export Application with DOE
Published: 19:00 on Tue 17 Jan 2017 in Oil Industry News.
Lloyds Energy Group announced that it has submitted a formal application with the Department of Energy (DOE) to export LNG to countries which have a Free Trade Agreement (FTA) with the U.S. from its p...
Tue 17 Jan 2017 PSA Audits Statoil's Gullfaks Management
Published: 18:00 on Tue 17 Jan 2017 in Oil Industry News.
Norway’s Petroleum Safety Authority (PSA) has carried out an audit of Statoil's management of the subsea compression project at Gullfaks.In 2015, Statoil began operation of a subsea facility for c...
Tue 17 Jan 2017 ACE Winches to Lay Off 30 UK Workers
Published: 15:00 on Tue 17 Jan 2017 in Oil Industry News.
The company said that as a result of the severity of the continued oil and gas downturn which has seen oil and gas operators significantly reducing investments, the ACE organisation has had to introdu...
Tue 17 Jan 2017 DOF Wins Petrobras Contract for Skandi Vitoria
Published: 14:00 on Tue 17 Jan 2017 in Oil Industry News.
Petrobras has awarded the Brazilian built PLSV Skandi Vitoria a 532-day contract. The contract will commence in January.According to a statement released by DOF, the vessel is owned through a joint ve...
Tue 17 Jan 2017 Shell Issued Safety Improvement Points at Gas Plant
Published: 13:00 on Tue 17 Jan 2017 in Oil Industry News.
The audit into working conditions at the Nyhamna facilities Central Control Room resulted in several improvement points being raised.Shell is the operator of the Nyhamna plant.The audit look...
Tue 17 Jan 2017 Hurricane Spuds Halifax Probe West of Shetland
Published: 12:00 on Tue 17 Jan 2017 in Oil Industry News.
UK independent fractured basement reservoir explorer Hurricane Energy has started drilling on its Halifax well west of Shetland on the UK Continental Shelf.The well, being drilled using the Transocean...
Tue 17 Jan 2017 Oil Rises on Weaker Dollar, Saudi Commitment to Cut Output
Published: 11:00 on Tue 17 Jan 2017 in Oil Industry News.
Gains were capped by rising U.S. production and scepticism that the Organization of the Petroleum Exporting Countries as a whole would comply with its commitments to reduce supplies.Brent crude future...
Tue 17 Jan 2017 Iran Oil Minister Certain that oil prices will rise
Published: 10:00 on Tue 17 Jan 2017 in Oil Industry News.
Iran's oil minister said that he was confident the OPEC and non-OPEC members would commit to the output cut deal agreed in November, noting that prices of oil would rise further as a result."I am ...
Tue 17 Jan 2017 Asia-Pacific Oil Production Declining at Record Levels Says Wood Mackenzie
Published: 09:00 on Tue 17 Jan 2017 in Oil Industry News.
"We estimate 2016 production of 7.5 million barrels per day will fall by over a million barrels per day by 2020," said Angus Rodger, the energy consultancy's Asia-Pacific upstream research director.Ch...
Tue 17 Jan 2017 Saudi Plans for Early End to OPEC Pact Risk Leaving Job Undone
Published: 08:00 on Tue 17 Jan 2017 in Oil Industry News.
Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut unfinished.OPEC and Russia won’t need to prolong ou...
Tue 17 Jan 2017 Saudi to Launch $30-50 billion Renewable Energy Program
Published: 06:00 on Tue 17 Jan 2017 in Oil Industry News.
Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of between $30 billion and $50 billion by 2023, Saudi Energy Minister Khalid al-Falih said on...
Tue 17 Jan 2017 Beibu Gulf Hits Production Milestone
Published: 03:00 on Tue 17 Jan 2017 in Oil Industry News.
Production on 10 January 2017 from the Beibu Gulf fields, offshore China, reached a total of 13.9 MMbbl, according to Horizon Oil.Up until this point, the Block 22/12 participants have been paying a f...
Mon 16 Jan 2017 Venezuela's PDVSA Sees 2017 Oil Output Stuck Near Historic Lows
Published: 23:00 on Mon 16 Jan 2017 in Oil Industry News.
Venezuelan state energy company PDVSA projects oil production will remain near 23-year lows in 2017, an internal document shows, suggesting more hardship ahead for the crisis-wrought OPEC member count...
Mon 16 Jan 2017 Canadian Drillers Add Most Oil Rigs in Two Years
Published: 22:00 on Mon 16 Jan 2017 in Oil Industry News.
Energyfirms in Canada more than doubled the number of rigs drilling for oil this week to the highest level in almost two years as producers returned en masse from Christmas breaks and crude prices rem...
Mon 16 Jan 2017 FUGRO Wins Five-year Contract with INPEX in Australia
Published: 20:00 on Mon 16 Jan 2017 in Oil Industry News.
Fugro has been awarded a contract from INPEX Operations Australia for subsea services to be executed across the Ichthys facilities in the Timor Sea, located approximately 220 km from the coast of West...
Mon 16 Jan 2017 Sovereign Fund Could Secure UK's Long-term Future
Published: 19:00 on Mon 16 Jan 2017 in Oil Industry News.
One of the most famous pieces of football commentary came at the end of a match in Oslo more than 35 years ago in which unfancied Norway beat England 2-1. Few fans could now name the Norwegian comment...
Mon 16 Jan 2017 Iran Oil Minister Certain That Oil Prices Will Rise
Published: 19:00 on Mon 16 Jan 2017 in Oil Industry News.
"I am certain that the OPEC and non-OPEC members will cut oil output as committed. This will remove the oil surplus from the market, balance the demand and supply, and lift prices," Bijan Namdar Zanga...
Mon 16 Jan 2017 50ft Waves Batter North Sea Platform Stranding Workers - Video
Published: 18:00 on Mon 16 Jan 2017 in Oil Industry News.
Extreme weather left North Sea oil workers stranded offshore as 50ft waves battered their platform. Crew aboard the Judy facility 150 miles off the coast of Aberdeen were due to arrive home on Th...
Mon 16 Jan 2017 Subsea 7 Loses Petrobras Contract Worth £90m
Published: 15:00 on Mon 16 Jan 2017 in Oil Industry News.
The contract loss comes after the state-owned Brazilian firm terminated its contract for Subsea 7's pipelay vessel the Sevan Mar.The Brazilian government has since withdrawn the operati...
Mon 16 Jan 2017 Oil’s Painful Cost-squeeze Generates Output Dividend for Norway
Published: 14:00 on Mon 16 Jan 2017 in Oil Industry News.
Cost cuts are painful, but for Norway’s oil industry, making every penny count has also yielded a surprising production windfall. Thanks to improvements from cheaper, faster drilling to greater regul...
Mon 16 Jan 2017 Oil Trades Near $52 as Saudis See No Need to Extend Supply Cuts
Published: 13:00 on Mon 16 Jan 2017 in Oil Industry News.
Futures were little changed in New York after losing 3 percent last week. Rigs targeting crude in the U.S. fell for the first time in 11 weeks, according to data from Baker Hughes Inc. OPEC probably w...
Mon 16 Jan 2017 Volatility and Cyclicality in Oil Prices - Will This Time be Different?
Published: 12:00 on Mon 16 Jan 2017 in Oil Industry News.
Extreme volatility and strong cyclicality have been the defining characteristics of oil prices and the industry since the first modern oil well was drilled in Pennsylvania in 1859.Oil prices are much ...
Mon 16 Jan 2017 IOG Acquires North Sea Pipeline
Published: 11:00 on Mon 16 Jan 2017 in Oil Industry News.
The MOU contains exclusivity provisions until 28 February.IOG says discussions regarding the sale and purchase agreement are at an advanced stage and all parties are committed to completing this docum...
Mon 16 Jan 2017 Oil Prices Will Be Much More Volatile in 2017
Published: 10:00 on Mon 16 Jan 2017 in Oil Industry News.
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented, the head of the Inter...
Mon 16 Jan 2017 Despite Saudi Signals, OPEC Unlikely to Deliver All Promised Oil Cuts
Published: 09:00 on Mon 16 Jan 2017 in Oil Industry News.
OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80 percent would be go...
Mon 16 Jan 2017 Additional S92 Checks Mandated by Emergency Airworthiness Directive
Published: 08:00 on Mon 16 Jan 2017 in Oil Industry News.
The EAD comes in addition to the Alert Service Bulletin (ASB) released by manufacturer Sikorsky after an S92 spun out of control on an offshore helideck. The ASB and the EAD requires that th...
Mon 16 Jan 2017 OPEC Chief Confident in Commitment, Enthusiasm for Output Cut Deal
Published: 06:00 on Mon 16 Jan 2017 in Oil Industry News.
OPEC's Secretary-General has confidence in the commitment of oil producers who agreed to an output cut deal last month to ease a global glut that has depressed crude prices and hurt exporting coun...
Fri 13 Jan 2017 Pampa Sets Sights on Argentina’s Tight Gas as Vaca Muerta Drags
Published: 23:00 on Fri 13 Jan 2017 in Oil Industry News.
Pampa Energia SA wants to become one of Argentina’s main producers of tight gas following its acquisition of Petrobras Argentina SA, because those prospects are currently more profitable than shale ga...
Fri 13 Jan 2017 Pemex Withdrawing Request for Oil Field Contract Change
Published: 22:00 on Fri 13 Jan 2017 in Oil Industry News.
Mexico's cash-strapped state oil company Pemex requested authorities allow it to lower the tax regime on its top oil field Ku Maloob Zaap (KMZ), but the company said the request was now in the pro...
Fri 13 Jan 2017 Proserv and SapuraKencana Join forces in Asia Pacific
Published: 20:00 on Fri 13 Jan 2017 in Oil Industry News.
Proserv and SapuraKencana Petroleum Berhad’s wholly-owned subsidiary, SapuraKencana Technology Sdn Bhd (SK Technology) are joining forces to provide enhanced technology services to clients in Asia Pac...
Fri 13 Jan 2017 BP Showcase Global Plans for 2017 - Video
Published: 18:00 on Fri 13 Jan 2017 in Oil Industry News.
Oil Supermajor BP showcases its global plans for 2017, in the following video. @medicalInsuranceWidget@ It will focus on several of its projects including Thunder Horse in the Gulf of Mexico;...
Fri 13 Jan 2017 CHC Helicopter Departs North Sea Platform After Five Days on Helideck
Published: 15:30 on Fri 13 Jan 2017 in Oil Industry News.
A mechanic from CHC was flown out to the Kvitebjorn installation in the Norwegian Sector of the North Sea on Tuesday and successfully conducted repairs to the aircraft. The stranded air...
Fri 13 Jan 2017 EXCLUSIVE: Four North Sea Helicopters Fail Tail Rotor Inspection
Published: 13:30 on Fri 13 Jan 2017 in Oil Industry News.
Image Credit: Erling Johnsen / NRKThe temporary grounding was mandated by manufacturer Sikorsky in an Alert Service Bulletin and comes during the investigation into a CHC S92 ...
Fri 13 Jan 2017 Eni Spuds Wildcat Well in Norwegian Barents Sea
Published: 12:00 on Fri 13 Jan 2017 in Oil Industry News.
Faroe Petroleum has announced the commencement of the Eni-operated Boné exploration well, 7318/12-1, in the Barents Sea.Licence PL716, which contains the Boné prospect (previously named Dazzler), lies...
Fri 13 Jan 2017 Total’s Cyprus Block 11 Could Rival Egypt’s Zohr Discovery
Published: 12:00 on Fri 13 Jan 2017 in Oil Industry News.
Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to new analysis from IHS Mark...
Fri 13 Jan 2017 CHC to Close North Sea Base Following Contract Loss
Published: 11:30 on Fri 13 Jan 2017 in Oil Industry News.
The move comes after the organisation lost out on a lucrative long-term deal with Norways Statoil, who instead chose to go with Bristows.The operational base is expected to shut down in May 2017 when ...
Fri 13 Jan 2017 Ship to Ship Oil Protesters 'Should Target Scotland Office', says Sturgeon
Published: 10:00 on Fri 13 Jan 2017 in Oil Industry News.
Protesters at the Scottish Parliament who want to stop ship-to-ship oil transfers in the Moray Firth should "stop off at the Scotland Office", the First Minister said.Nicola Sturgeon made the comments...
Fri 13 Jan 2017 Brewdog and Aberdeenshire Council in War of Words Over Ellon Land
Published: 09:00 on Fri 13 Jan 2017 in Oil Industry News.
Ellon based Craft beer company BrewDog said in its blog it wants to build a hotel, restaurant and conference centre, creating 80 jobs. However the beer maker and Aberdeenshire Council have b...
Fri 13 Jan 2017 Minimum Wage Deal After 'Ship of Shame' Ferry Protest
Published: 08:00 on Fri 13 Jan 2017 in Oil Industry News.
A deal has been made to ensure foreign sailors serving aboard Northern Isles freight boats are paid at least the minimum wage.Protests were held in Aberdeen over reports crewmen on ferries sailing und...
Fri 13 Jan 2017 Nigeria Oil Union Suspends Three-day Nationwide Strike After Talks
Published: 06:00 on Fri 13 Jan 2017 in Oil Industry News.
A Nigerian oil labor union has suspended a nationwide three-day strike over job losses that hit petrol stations and oil tankers, following talks with the government on Wednesday.The Nigeria Union of P...
Fri 13 Jan 2017 China's CNPC Forecasts Record Oil Demand, Warns on Product glut
Published: 03:00 on Fri 13 Jan 2017 in Oil Industry News.
China's crude oil demand will grow by 3.4 percent this year to a record of almost 12 million barrels per day (bpd), the country's top state-owned oil producer forecast on Thursday, as refiners...
Thu 12 Jan 2017 Argentina Clinches Deal to Attract Investment in Vaca Muerta Shale
Published: 23:00 on Thu 12 Jan 2017 in Oil Industry News.
Argentina has clinched a deal with labor unions and energy companies aimed at luring investors to the Vaca Muerta formation in Patagonia, one of the largest shale reserves in the world, the government...
Thu 12 Jan 2017 Oil Prices Running Out of Reasons to Rally
Published: 22:00 on Thu 12 Jan 2017 in Oil Industry News.
Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in U.S. shale production. For the better part of two months, optimism surrounding the OPEC deal h...
Thu 12 Jan 2017 Trump Taps Well of Protest with Calls for More Drilling in National Parks
Published: 20:00 on Thu 12 Jan 2017 in Oil Industry News.
President-elect Donald Trump aims to open up federal lands to more energy development, tapping into a long-running and contentious debate over how best to manage America’s remaining wilderness.The U.S...
Thu 12 Jan 2017 Halliburton Enters Technology Agreement with Petrobras
Published: 19:00 on Thu 12 Jan 2017 in Oil Industry News.
Halliburton has announced a technology cooperation agreement with Petrobras that will advance collaboration in a diverse set of projects targeting complex reservoirs, such as deepwater pre-salt and ma...
Thu 12 Jan 2017 Energy’s Drunken-sailor Legacy Hangs Over plans for debt rescues
Published: 18:00 on Thu 12 Jan 2017 in Oil Industry News.
Debt-laden energy companies that still don’t have a financial escape plan in place are running out of time and willing lenders even after oil doubled from its February lows.Crude prices topping $50/bb...
Thu 12 Jan 2017 Saudi Arabia OPEC Cuts Exceed Expectations
Published: 17:00 on Thu 12 Jan 2017 in Oil Industry News.
The world’s biggest oil exporter agreed to cut 486,000 bpd from Jan. 1 for six months as part of a global deal to reduce output to curb a supply glut. The caps on production, together with rising dema...
Thu 12 Jan 2017 Exxon Mobil Announces New Oil Discoveries Offshore Guyana
Published: 15:00 on Thu 12 Jan 2017 in Oil Industry News.
“This important discovery further establishes the area as a significant exploration province,” said Steve Greenlee, president of Exxon Mobil Exploration Company. “We look forward to working with the g...
Thu 12 Jan 2017 As Russia’s Gas Market gets Weaker, Europe gets Stronger
Published: 14:00 on Thu 12 Jan 2017 in Oil Industry News.
Europe’s Trans Anatolian natural gas pipeline in Turkey has hit a major milestone. It passed the halfway mark to completion at the end of 2016, bringing the Southern Gas Corridor pipeline project clos...
Thu 12 Jan 2017 Nigeria Oil Union Suspends Strike after Accord with Companies
Published: 13:00 on Thu 12 Jan 2017 in Oil Industry News.
Union leaders called off the strike late Wednesday after an “exhaustive meeting” with oil company representatives and the minister of labor, Adamson Momoh, a spokesman for the National Union of Petrol...
Thu 12 Jan 2017 Big Oil Hits Sweet Spot as Projects Reap Rewards of Recovery
Published: 12:00 on Thu 12 Jan 2017 in Oil Industry News.
Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts.Seven of the world’s largest energy companies will together boost oil a...
Thu 12 Jan 2017 Aker Cuts 650 Jobs Across UK, Norway and India
Published: 11:00 on Thu 12 Jan 2017 in Oil Industry News.
The Norwegian based firm advised how employees were told today that the move will impact 650 jobs throughout the UK, Norway and India.A spokesperson for Akers UK operations said 100 jobs were up for a...
Thu 12 Jan 2017 GE, Transocean Announce Performance-based Service Agreement
Published: 10:00 on Thu 12 Jan 2017 in Oil Industry News.
GE Oil & Gas has secured a new contractual service agreement (CSA), valued at approximately $180 million, with Transocean.Under the agreement, GE will provide condition-based monitoring and mainte...
Thu 12 Jan 2017 London Oil Firm Expects Upturn in North Sea
Published: 08:00 on Thu 12 Jan 2017 in Oil Industry News.
OIL and gas industry veteran Tony Craven Walker, who runs Serica Energy, has said the shake up in the North Sea could ensure the area has a bright future as he underlined the company’s appetite for ac...
Thu 12 Jan 2017 Saudi Cuts Feb Oil Exports to Some Buyers in India, Malaysia to Meet OPEC Deal
Published: 06:00 on Thu 12 Jan 2017 in Oil Industry News.
Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of its exports to the rest of Asia steady for a sec...
Thu 12 Jan 2017 Asia's Diesel Profit May Rise for First Time Since 2013
Published: 03:00 on Thu 12 Jan 2017 in Oil Industry News.
Asian refiners' profit margins from producing diesel in 2017 may rise for the first time in four years as demand for the fuel improves in the infrastructure, construction, mining and oil and gas e...
Wed 11 Jan 2017 Refiners Shun New Canadian Crude Blend Offer from Enbridge
Published: 23:00 on Wed 11 Jan 2017 in Oil Industry News.
Enbridge Inc has approved a new stream of heavy Canadian crude for export on one of its major oil pipelines to the United States, according to four trading sources. The only problem? No one wants it.C...
Wed 11 Jan 2017 Texas $1 Billion Carbon Project to Curb Emissions, Up Oil Recovery
Published: 22:00 on Wed 11 Jan 2017 in Oil Industry News.
NRG Energy Inc and JX Nippon Oil & Gas Exploration Corp said on Tuesday they had begun operations at a $1.04 billion carbon capture facility at a Texas coal-fired power plant and were using the em...
Wed 11 Jan 2017 Oil Industry Growing Again After Losing Half-million Jobs
Published: 20:00 on Wed 11 Jan 2017 in Oil Industry News.
The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Graves & C...
Wed 11 Jan 2017 Wisconsin Native Americans Vote No to Renewing Deal with Enbridge’s Oil Pipeline
Published: 19:00 on Wed 11 Jan 2017 in Oil Industry News.
A Native American tribe in Wisconsin has voted against extending the contracts which allow Enbridge Inc. to use their land for a crude oil pipeline. It comes as protests against the Dakota Access Pipe...
Wed 11 Jan 2017 North American E&P Companies Wager Big, Hedging 24% of 2017 Production
Published: 18:00 on Wed 11 Jan 2017 in Oil Industry News.
North American E&P companies have more than tripled the hedging protection for their 2017 production since April 2016, with 24% of total 2017 production now hedged, according to new analysis from ...
Wed 11 Jan 2017 Oil Industry Starts Revival as Project Approvals Set to Double
Published: 17:00 on Wed 11 Jan 2017 in Oil Industry News.
Companies will green-light more than 20 oil and gas fields for development compared with nine in 2016, the Edinburgh-based industry consultant said in a report Wednesday. Drillers, led by U.S. shale o...
Wed 11 Jan 2017 AAIB Details Cause of West Franklin Helicopter Incident
Published: 15:00 on Wed 11 Jan 2017 in Oil Industry News.
Yesterday aircraft manufacturer Sikorsky released an Alert Service Bulletin (ASB) detailing a series of mandatory inspection requirements that had to be completed on all S92 airframes prior ...
Wed 11 Jan 2017 Gazprom Neft Discovers New Field in Orenburg Oblast
Published: 14:00 on Wed 11 Jan 2017 in Oil Industry News.
Gazprom Neft has discovered a new field in the Sorochinsky district of Orenburg Oblast. Reservoir engineers have estimated the new discovery, called Novosamarskoye field, has oil-in-place reserves of ...
Wed 11 Jan 2017 First Rigs to Arrive for Decommissioning in Great Yarmouth
Published: 12:00 on Wed 11 Jan 2017 in Oil Industry News.
The Veolia and Peterson partnership has been awarded two platform decommissioning contracts for recycling at their facility in Great Yarmouth. With an aim of reaching 96% recycling rates the work to r...
Wed 11 Jan 2017 Second Day of Helicopter Chaos as Triggered Lightning and Sea States Cause Further Delays
Published: 10:20 on Wed 11 Jan 2017 in Oil Industry News.
Helicopter operators reacted quickly yesterday, after Sikorsky released an Alert Service Bulletin requiring 11 hours of maintenance prior to their next flight. Despite the odds, operators Bristow...
Wed 11 Jan 2017 Oil Discoveries Seen Recovering After Crashing to 65-year Low
Published: 10:00 on Wed 11 Jan 2017 in Oil Industry News.
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably...
Wed 11 Jan 2017 Wood Group Secures Multi-Million Dollar Saudi Aramco Contract
Published: 09:00 on Wed 11 Jan 2017 in Oil Industry News.
The contract, which is effective immediately, also includes three one-year extension options and will be delivered locally in Saudi Arabia. First awarded in 2010, the General Engineering Service Plus ...
Wed 11 Jan 2017 Wood Group Win Multi-million Dollar Framework Agreement with Saudi Aramco
Published: 08:00 on Wed 11 Jan 2017 in Oil Industry News.
Wood Group has secured a five-year, multi-million dollar framework agreement to continue to provide engineering and project management services to Saudi Aramco’s onshore capital programs in the Kingdo...
Wed 11 Jan 2017 India's Gasoline Thirst Shows No Sign of Being Slaked
Published: 03:00 on Wed 11 Jan 2017 in Oil Industry News.
India’s gasoline consumption continues to grow rapidly as an increasing number of individuals purchase their first motorized vehicle, helping drive the fastest growth in fuel demand in the world.India...
Tue 10 Jan 2017 Drilling Downturn Could End Soon
Published: 23:00 on Tue 10 Jan 2017 in Oil Industry News.
The American Petroleum Institute (API) reported the total wells drilled and completed in Q4 2016 decreased 8.8% when compared to Q3 2016. This decrease shows a drastic improvement from the same period...
Tue 10 Jan 2017 Reluctant Activist Sees Heart of Shale Being Ripe for Deals
Published: 22:00 on Tue 10 Jan 2017 in Oil Industry News.
After years of calling for it privately, Barnes Hauptfuhrer decided that early 2017 was finally time to go public with his desire to see a makeover of America’s hottest natural gas play. On Tuesday, t...
Tue 10 Jan 2017 Russia Cuts Oil Output by 100,000 bpd in Early January
Published: 20:00 on Tue 10 Jan 2017 in Oil Industry News.
Russia cut its oil production in early January by around 100,000 barrels per day (bpd) from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sect...
Tue 10 Jan 2017 The Craziest Oil Price Predictions for 2017
Published: 19:00 on Tue 10 Jan 2017 in Oil Industry News.
Predicting where oil prices would go next month or next year has always been a game of hit and miss, all the more so in the past two years since the oil price crash began.Analysts have forecast prices...
Tue 10 Jan 2017 EXCLUSIVE: Aberdeen Airport to Operate Through The Night to Clear Helicopter Backlog
Published: 18:30 on Tue 10 Jan 2017 in Oil Industry News.
The ASB required aircraft operators to conduct an 11 hour inspection of the Tail Rotor Pitch Change Shaft which includes an off aircraft check of a component called a PCS bearing.No S92 was permitted ...
Tue 10 Jan 2017 Oil & Gas UK Publishes Drone Guide
Published: 18:00 on Tue 10 Jan 2017 in Oil Industry News.
A new publication to help guide the growing use offshore of unmanned aerial systems (UAS) – also known as drones - has been published by Oil & Gas UK.The Unmanned Aircraft Systems (UAS) Operations...
Tue 10 Jan 2017 Cost of North Sea Decommissioning Will Negate All Future Tax Revenues
Published: 17:00 on Tue 10 Jan 2017 in Oil Industry News.
Research group Wood Mackenzie warned taxpayers are facing a £24 billion bill for decommissioning oil and gas fields, 50 per cent higher than the official Treasury estimate of £16 billion.Oil companies...
Tue 10 Jan 2017 Seatronics to Partner with Force Technology
Published: 14:00 on Tue 10 Jan 2017 in Oil Industry News.
Seatronics, an Acteon company, has formed a new partnership agreement with Force Technology, an international technological consultancy company.The new agreement will provide Seatronics’ global custom...
Tue 10 Jan 2017 UK Coastguard's Helicopter Fleet Grounded
Published: 13:00 on Tue 10 Jan 2017 in Oil Industry News.
The alert from Sikorsky follows an investigation into an S92 helicopter that spun on the helideck of the West Franklin platform.The MCA contract for helicopter support, currently held by Bristows...
Tue 10 Jan 2017 Oil Companies May Boost E&P Spending After Two Years of Declines
Published: 12:00 on Tue 10 Jan 2017 in Oil Industry News.
Global oil and gas companies are expected to raise exploration and production (E&P) spending in 2017 by 7 percent, marking the first increase in three years, Barclays said on Monday.Oil prices hav...
Tue 10 Jan 2017 S92 Grounding - Full Details Emerge
Published: 11:30 on Tue 10 Jan 2017 in Oil Industry News.
The ASB comes as a result of Sikorsky's investigation into the West Franklin helicopter incident, where a S92 helicopter spun on the helideck upon landing - damaging the platform and the airc...
Tue 10 Jan 2017 Total to Acquire Additional Interest in Uganda Lake Albert Project
Published: 10:00 on Tue 10 Jan 2017 in Oil Industry News.
Total and Tullow have entered into a package agreement under which Total will acquire an additional 21.57% interest from Tullow in the Uganda Lake Albert oil project. Following this transaction, Total...
Tue 10 Jan 2017 North Sea Helicopter Operations Grounded With Immediate Effect
Published: 10:00 on Tue 10 Jan 2017 in Oil Industry News.
The Alert Service Bulletin, issued by Sikorsky (now owned by Lockheed Martin), advised aircraft operators who have aircraft airborne to conduct a series of technical checks when they next land.A...
Tue 10 Jan 2017 Centrica Cuts 90 Jobs Across European Operation - Aberdeen Worst Hit
Published: 09:00 on Tue 10 Jan 2017 in Oil Industry News.
The cuts come after Centrica announced it was in consultation with 710 of it's employees in Europe, including UK in Aberdeen and Morecambe Bay.Aberdeen is worst hit with a total of 25 jo...
Tue 10 Jan 2017 Saudi Arabia to U.A.E. Complying With Oil Cuts
Published: 08:00 on Tue 10 Jan 2017 in Oil Industry News.
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting ...
Tue 10 Jan 2017 Saudis Said to Duel Rivals by Curbing Heavy Oil Over Light Crude
Published: 06:00 on Tue 10 Jan 2017 in Oil Industry News.
Saudi Arabia is staying in the battle for market share by continuing to pump the type of oil that’s similar to rival U.S. and African supply, while fulfilling its promise to cut output by focusing cur...
Tue 10 Jan 2017 Iraq Gives Full February Crude Supply to Three Asia, Europe Buyers Despite OPEC Cut
Published: 03:00 on Tue 10 Jan 2017 in Oil Industry News.
Iraq, OPEC's second-largest oil producer, has given full supply allocations of Basra crude to three refiners in Asia and Europe for February, three sources with direct knowledge of the matter said...
Tue 10 Jan 2017 Iraq Plans Record February Basra Oil Exports Despite OPEC Cut in Force
Published: 00:00 on Tue 10 Jan 2017 in Oil Industry News.
Iraq plans to raise crude exports from its southern port of Basra to an all-time high in February, keeping exports high even as OPEC production cuts take effect this month.The country's State Oil Mark...
Mon 9 Jan 2017 Argentina to Lift 15-year-old Duty on Oil Exports
Published: 22:00 on Mon 9 Jan 2017 in Oil Industry News.
The center-right government of Argentine President Mauricio Macri has decided to lift a 15-year-old export duty on oil and oil products, the local daily newspaper La Nacion reported on Sunday.The gove...
Mon 9 Jan 2017 Russia's Gazprom Reports Record Gas Exports as Europe Shivers
Published: 20:00 on Mon 9 Jan 2017 in Oil Industry News.
Russia's Gazprom said on Saturday its daily supplies of natural gas to countries outside of the former Soviet Union have reached a record high due to cold weather in Europe.Gazprom pumped 615.5 mi...
Mon 9 Jan 2017 Statoil Weighs Up Withdrawal from US Gulf of Mexico Exploration
Published: 19:00 on Mon 9 Jan 2017 in Oil Industry News.
Norwegian multinational Statoil is pondering pulling out of its oil and gas exploration operations in the US Gulf of Mexico, according to Reuters citing comments in a Norwegian business journal.The co...
Mon 9 Jan 2017 6 Airlifted to Safety After Tanker Runs Aground
Published: 17:00 on Mon 9 Jan 2017 in Oil Industry News.
The Department of Fisheries and Oceans said the vessel's crew is safe and no pollution from Arca 1 has been reported.Anne Miller, a regional director with the Canadian Coast Guard's Atlantic Region, s...
Mon 9 Jan 2017 Bilfinger Salamis Secure 150 Jobs
Published: 15:00 on Mon 9 Jan 2017 in Oil Industry News.
The contract extension is for a period of three years, with the option to extend for a further two years.Bilfinger Salamis UK provide a range of lifecycle services to the client, including onshore pro...
Mon 9 Jan 2017 Iran Capitalizes on OPEC Oil Cut to Sell Millions of Barrels
Published: 14:00 on Mon 9 Jan 2017 in Oil Industry News.
Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers...
Mon 9 Jan 2017 Maersk Oil Cuts 160 North Sea Jobs
Published: 13:00 on Mon 9 Jan 2017 in Oil Industry News.
The company said the decision follows an organisational review at its headquarters which was completed in late 2016.Maersk said it is looking to simplify its organisational structure as it looks to im...
Mon 9 Jan 2017 Maersk Drilling Takes Delivery of Newbuild Jackup for North Sea
Published: 12:00 on Mon 9 Jan 2017 in Oil Industry News.
Maersk Drilling has taken delivery of its fourth XLE jackup rig, the Maersk Invincible, from Daewoo Shipbuilding and Marine Engineering in South Korea.The rig will now mobilize to the North Sea and wi...
Mon 9 Jan 2017 Unite Chief Calls for Bailout of Struggling Oil Industry
Published: 12:00 on Mon 9 Jan 2017 in Oil Industry News.
Unite chief Len McCluskey said he is running on his “record and vision” as his campaign for the union’s leadership arrived in Scotland today. McCluskey, the leader of the country’s biggest trade union...