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Industry Headlines

Schlumberger Joins Halliburton in Calling Oil Cycle's Bottom
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.
ConocoPhillips to Trim 6% of its Workforce
Friday, July 22, 2016 Houston-based ConocoPhillips will lay off 6 percent of its workforce with a majority of the cuts in North America.
Baker Hughes: US Oil Drillers Add Rigs for Fourth Straight Week
Friday, July 22, 2016 US drillers this week added oil rigs for a fourth consecutive week, according to a closely followed report on Friday, with the recent return to the well pad expected to soften the decline in domestic crude production.
Husky Energy Works to Clean Up Oil Spilled into Canadian River
Friday, July 22, 2016 Husky Energy crews work to clean-up an oil spill into a major western Canadian river, a government official says, with efforts focused on ensuring it does not contaminate the drinking water of communities downstream.
Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles
Friday, July 22, 2016 For almost two years, the spotlight in the global oil market has been on a surplus of crude. The latest stumble in prices shows that the glut extends further.
Rajeev Kumar Sinha Discusses India's Return to International Exploration
Friday, July 22, 2016 Directorate General of Hydrocarbons' CTO Rajeev Kumar Sinha discusses India's ongoing offer of 67 small oil and gas fields under new terms.
Philippines' Oil Still In Troubled Waters After South China Sea Ruling
Friday, July 22, 2016 The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated by last week's ruling that granted Manila a big victory in the South China Sea.
Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.

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Exploration

PETRONAS Awards SK410B PSC Offshore Malaysia to PTTEP-led JV
Friday, July 22, 2016 PETRONAS awards the SK410B Production Sharing Contract offshore Malaysia to a joint venture comprising Thailand's PTTEP, KUFPEC and PETRONAS Cargali.
PGS: Improving Sentiment in Offshore Seismic Market
Thursday, July 21, 2016 Norwegian seismic explorer Petroleum Geo-Services says it is beginning to see early signs that its market is stabilizing.
Indonesia Invites Bids for 14 Conventional Oil & Gas Blocks
Thursday, July 21, 2016 Indonesia's Ministry of Energy and Mineral Resources issues invitation for energy companies to bid for 14 conventional oil and gas blocks.
Sonardyne Wins Magseis' Deal to Supply Acoustics for Saudi Aramco Project
Wednesday, July 20, 2016 Sonardyne International wins contract from Magseis to supply acoustics for Saudi Aramco's S78 Project in the Red Sea.
KrisEnergy Commences 3D Seismic Survey in Block G10/48 ibn Gulf of Thailand
Tuesday, July 19, 2016 KrisEnergy commences 3D seismic survey with the CGG Amadeus in Block G10/48 in the Gulf of Thailand.

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Production

Schlumberger Sees Oil Supply Deficit if Demand Growth Holds
Friday, July 22, 2016 Schlumberger, the world's No. 1 oilfield services provider, says it expects a "significant global supply deficit" of crude oil, given the sharp decline in spending on exploration and production.
Ithaca Says Stella Production Facility Undergoing Sea Trials
Friday, July 22, 2016 The FPF-1 floating production facility, which is destined for the Stella field in the central North Sea, has left the Gdansk shipyard and is now undertaking final marine system trials.
Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition
Friday, July 22, 2016 Poland's antimonopoly watchdog a proposed joint venture by Russia's Gazprom and five European firms responsible for the construction of Nord Stream 2 would undermine competition.
Total Signs Agreement to Supply LNG to Japan's Chugoku Electric
Friday, July 22, 2016 Total signs agreement to supply liquefied natural gas to Japan's Chugoku Electric for 17 years beginning in 2019.
LTHE-ECS JV Bags $1.6B EPCI Deal from Saudi Aramco for Hasbah Gas Project
Friday, July 22, 2016 India's LHTE and EMAS Chiyoda Subsea bags a $1.6 billion engineering, procurement, construction and installation (EPCI) contract from Saudi Aramco for phase two development of the Hasbah gas field offshore Saudi Arabia.
Noble Energy's Gunflint Production Starts Firing in US Gulf
Thursday, July 21, 2016 The start of production from Noble's Gunflint development marks the company's fourth successful offshore project completion within the past nine months.

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Finance and Investing

Australia's Santos Post 2Q 2016 Sales Revenue of $590M, Down 3% YOY
Friday, July 22, 2016 Australia's Santos sales revenue fell to $590 million in the second half of 2016, down 3 percent from last year's $611 million.
Exxon to Buy Gas Explorer InterOil for Up to $3.6 Billion
Thursday, July 21, 2016 Exxon Mobil agrees to buy natural gas explorer InterOil for as much as $3.6 billion to acquire discoveries in Papua New Guinea that will feed the buyer's existing gas-export plant.
Woodside Q2 Revenue Falls 8% On Weaker Oil Prices
Thursday, July 21, 2016 Woodside reported a 10 percent rise in oil and gas output in the June quarter, while revenue fell 8 percent due to weaker oil prices, but says it expects third quarter revenue to improve.
Oil Search Won't Counter Exxon Bid For Gas Explorer InterOil
Thursday, July 21, 2016 Oil Search declines to submit a counteroffer for Papua New Guinea-focused gas explorer InterOil, leaving Exxon Mobil Corp. to wait and see if Total will challenge its bid alone.
Halliburton Posts Loss Hurt by Baker Hughes Deal Termination Fee
Wednesday, July 20, 2016 The world's number two oilfield services firm, Halliburton, posts a quarterly loss due to the $3.5-billion fee it paid for terminating a deal to buy rival Baker Hughes.
BHP Billiton Cuts Petroleum CAPEX by 44% in FY2017 to $1.4B
Wednesday, July 20, 2016 BHP Billiton cuts oil and gas capital expenditure (CAPEX) by 44 percent in financial year 2017 to $1.4 billion, compared to $2.5 billion in the previous year.

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Company Operations

Kremlin: There is 'Understanding' Rosneft Should Not Buy Stake in Bashneft
Friday, July 22, 2016 Kremlin says that there is an 'understanding' in the Russian government that state-owned oil firm Rosneft should not take part in the privatisation of rival Bashneft.
Husky Energy Posts Loss as Production Falls
Friday, July 22, 2016 Canada's Husky Energy reports a second-quarter loss as production falls due to planned maintenance and the Fort McMurray wildfire in Alberta.
Keppel Sees Prolonged Dearth Of Oil-Rig Orders Amid Glut
Friday, July 22, 2016 Keppel Corp., the world's largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that's caused quarterly profit to fall to the lowest in almost a decade.
NauticAWT, ENRA Sets Up JV to Tap Business Opportunities in Malaysia
Friday, July 22, 2016 NautiAWT forms a joint venture, ENRA NauticAWT, with ENRA Oil and Gas Services to tap business opportunities in Malaysia.
Leading Procedural Compliance with a Checklist Culture
Friday, July 22, 2016 As the oilfield nears the "Great Crew Change," it is clear that industry leaders will have to make smart and strategic choices going forward.
Oil CEOs Still Paid for Growth Despite Crude Glut, Moody's Says
Thursday, July 21, 2016 US crude supplies remain at the highest seasonal level in at least a decade, but drillers are still rewarding their top brass when they add to the glut.

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Policy

Offshore Gulf of Mexico Auction to Go Live on the Internet
Friday, July 22, 2016 Final sale of western Gulf of Mexico offshore acreage from five-year program will feature real time access to the public.

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Brent Crude Oil : $46.2/BBL 2.05%
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Natural Gas : $2.69/MMBtu 1.50%
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