Industry Headlines

Number of UK Oil Jobs Falls at Fastest Rate in At Least 11 Years
Thursday, November 26, 2015 The number of contractors employed in Britain's oil and gas sector has fallen over the past year at the steepest rate since at least 2004, an annual industry survey carried out by a Scottish business association shows.
PetroChina's $2.4B Sale Mixes Profits With Overhaul
Thursday, November 26, 2015 PetroChina rises to a two-week high after announcing plans to sell pipeline stakes for as much as $2.4 billion as the nation?s biggest oil and gas producer seeks to meet year-end profit targets amid a drive to reform state-own enterprises.
Baker Hughes: US Oil Drillers Cut Rigs For 12th Week In Last 13
Wednesday, November 25, 2015 US energy firms cut oil rigs for a 12th week in the last 13, data for the holiday-shortened week showed, a sign drillers were still waiting for higher prices before returning to the well pad.
PETRONAS, Partners Gain from Malaysia's Production Sharing Contracts
Wednesday, November 25, 2015 Sweden's Lundin Petroleum AB reiterated the importance of Malaysia to the firm's growth strategy in Southeast Asia.
Autumn Statement: Thin on Detail about Support for UK Oil, Gas
Wednesday, November 25, 2015 Chancellor of the Exchequer George Osborne says little about supporting the UK's offshore oil and gas sector in his Autumn Statement but confirms a new GBP 1 billion shale gas wealth fund.
Minister Urges Industry to Boost India's O&G Output in Low Cost Environment
Wednesday, November 25, 2015 India's Minister for Petroleum & Natural Gas Dharmendra Pradhan urges the petroleum sector to capitalize on reduced industry costs to increase domestic oil and gas production.
Introducing the New OPEC Member That Likes Lower Oil Prices
Wednesday, November 25, 2015 After defending the interests of oil-exporting nations for 5 decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps.
Could Cuts in CAPEX Be the Catalyst For Growth in Oil Prices?
Wednesday, November 25, 2015 North American upstream companies continue to slash spending but demand growth could turn that around within the next 18 to 20 months.
Cheap Coal Threatens LNG's Toehold in Fast Expanding Philippines
Wednesday, November 25, 2015 The Philippines is set to import LNG for the first time next year as it bids to replace fast-fading local gas supplies, but cheap coal is blowing off course Manila's vow to lift the use of cleaner fuels.
Oil Steadies On US Rig Count Drop, Small Crude Build
Wednesday, November 25, 2015 Crude futures erase early losses to settle steady after a smaller-than-expected supply build in the United States.



Mexico's Sierra & Oil & Gas Sees First Exploratory Drill in Early 2017
Thursday, November 26, 2015 A consortium that includes Mexico's Sierra Oil & Gas plans in early 2017 to make its first exploratory drill in one of the fields it was awarded as part of a landmark energy reform, Sierra's chief executive officer says.
Triple Energy Updates on Plan for Yixin-1 in China's Heilongjiang Province
Wednesday, November 25, 2015 Triple Energy reports that the firm will fracc and test the Yixin-1 well in China's Heilongjiang province.
Quadrant Energy Spuds Roc-1 Well in Permit WA-437-P Off Western Australia
Wednesday, November 25, 2015 Quadrant Energy spuds Roc-1 well in permit WA-437-P offshore Western Australia.
Sound Energy: Estimated Badile Well Costs Reduced
Tuesday, November 24, 2015 Sound Energy takes advantage of the lower oil price environment to reduce the estimated cost of the upcoming Badile exploration well by $5.3 million.
Lundin Spuds Ornen Prospect Well in Barents Sea
Tuesday, November 24, 2015 Lundin Norway AS commences the drilling of exploration well 7130/4-1, located on the Ornen prospect in the southern Barents Sea.
Senex Prepares to Spud Baikal #1 Well in PEL 444 in Cooper Basin
Tuesday, November 24, 2015 Senex Energy prepares to spud Baikal #1 well in PEL 444 in Cooper Basin, South Australia in early December.
UMW Naga 8 Secures Contract from SapuraKencana to Drill Offshore Malaysia
Tuesday, November 24, 2015 UMW Oil & Gas assigns UMW Naga 8 jackup for a drilling contract with SapuraKencanca Petroleum offshore Malaysia.



Penspen to Conduct Engineering Study for Offshore Nigerian Field
Thursday, November 26, 2015 Penspen secures a contract from Sirius Group to conduct an engineering study for the monetization of gas reserves from oilfields offshore Niger Delta.
Cooper Energy Upgrades Contingent Resource at Sole Field in Gippsland Basin
Thursday, November 26, 2015 Cooper Energy upgrades the resource at the Sole gas field in VIC/RL3 offshore Australia and opens the data room for the Gippsland Basin Gas Hub.
Israel's Leviathan Signs Preliminary Egypt Natgas Deal
Wednesday, November 25, 2015 Partners in the Leviathan gas field, offshore Israel, sign a 15-year deal to pump gas to Egypt via an existing subsea pipeline.
BG: QCLNG Train 2 Commercial Operations Begin
Wednesday, November 25, 2015 BG Group announces that commercial operations have begun from the second train at the Queensland Curtis LNG (QCLNG) plant.
Bowleven 'Pleased' with Moambe Flow Test Results
Wednesday, November 25, 2015 Bowleven Chief Executive Kevin Hart states that the company is "pleased with the positive initial flow test results" at the Moambe well on the Bomono permit in Cameroon.
Russia's Gazprom Neft to Quadruple Exports from Prirazlomnoye, Novoport
Tuesday, November 24, 2015 Gazprom Neft says it will quadruple oil exports from its Prirazlomnoye and Novoport fields in Russia during 2016.
CITIC Drills Oseil-28 Development Well in Seram (Non-Bula) PSC in Indonesia
Tuesday, November 24, 2015 CITIC commences drilling at the Oseil-22 development well in Seram (Non-Bula) Production Sharing Contract in eastern Indonesia.
Monadelphous Clinches $144M Contract for Shell's Prelude FLNG Project
Tuesday, November 24, 2015 Monadelphous clinches a $143.9 million maintenance and modifications services contract for Shell's Prelude floating liquefied natural gas project offshore Western Australia.


Finance and Investing

Total to Raise $1.2 Billion of New Debt Financing
Wednesday, November 25, 2015 Total is raising approximately $1.2 billion of new debt financing, which it intends to use "for general corporate purposes", according to a company statement.
AGR Demands Speedy Loan Repayment from Tethys Petroleum
Wednesday, November 25, 2015 AGR Energy sends Tethys Petroleum an 'accelerated repayment notice' in relation to a $7.5-million loan it made to the firm during the spring of this year.
88 Energy Raises Funds Through Oversubscribed Share Placing
Friday, November 20, 2015 88 Energy Limited successfully raises $3 million through a "strongly oversubscribed" share placing.
Thai PTT Cuts 2015 Investment Budget To $1.4 Billion
Friday, November 20, 2015 PTT has cut its 2015 estimated investment budget to $1.4 billion, mainly due to a postponement in new overseas investments.
Petrobras' Dangerous Debt Math: $24B Owed in 24 Months
Thursday, November 19, 2015 The debt clock is ticking down at Brazil's troubled oil giant, Petrobras. Next up: $24 billion of repayments over 24 months.
Crowdfunding Platform Officially Launches
Friday, November 13, 2015 EnergyFunders officially launches crowdfunding platform, which will allow accredited and non-accredited investors to directly fund oil and gas projects.


Company Operations

CIMC Raffles Holds Naming Ceremony for North Dragon Semisub in China
Thursday, November 26, 2015 CIMC Raffles holds a naming ceremony for North Sea Rig Holdings' newbuild North Dragon semisub at its Yantai Shipyard in China, while construction work continues on two other similar rigs.
PPL Shipyard Challenges MPD's Termination of Jackup Construction Contract
Thursday, November 26, 2015 Sembcorp Marine's unit PPL Shipyard challenges Marco Polo Drilling's termination of a jackup construction contract.
Woodside Acquires CSD Software Licenses from Norway's Completion Services
Thursday, November 26, 2015 Woodside acquires Completion String Design (CSD) software licenses from Norway's Completion Services.
Genel, New Age in $2 Billion Merger Talks
Wednesday, November 25, 2015 Genel Energy is in the early stages of merger talks worth more than $2 billion with New Age African Global Energy, according to Sky News.
Ophir Energy Said to Receive Merger Interest amid Oil Slump
Wednesday, November 25, 2015 Africa-focused Ophir Energy receives informal takeover/merger interest from several parties, according to Bloomberg sources.
Rosneft Posts YOY Income Decrease
Wednesday, November 25, 2015 Rosneft posts a net income of $5.3 billion in the nine month period ended September 30, which marks an 11.7% decrease from the $6 billion income registered during the same period last year.
Indonesia's Pertamina Replaces 'Problematic People' Amid Graft Pro
Wednesday, November 25, 2015 Indonesia's Pertamina replaces 'problematic people' at its oil trade unit, according to the country's energy minister.
China Energy Giants Seek Last-Minute Sales in Year-End Countdown
Wednesday, November 25, 2015 China's biggest energy companies are seeking to unload assets and urging workers to cut costs in a last-minute rush to meet annual government-set growth targets as lower crude prices drag down earnings.
MPD Initiates Contractual Dispute Resolution Process Against PPL Shipyard
Wednesday, November 25, 2015 Singapore's Marco Polo Drilling (MPD) initiates contractual dispute resolution process against PPL Shipyard over the termination of a rig building deal.
Malaysia's Icon Offshore Receives $12.1M LOA to Supply PSV to KPOC
Wednesday, November 25, 2015 Malaysia's Icon Offshore receives a letter of award, worth $12.1 million, to provide a deepwater platform supply vessel to Kebabangan Petroleum Operating Company.



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