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Industry Headlines

Seadrill Says Oil Industry May Be Turning As Q2 Beats Forecast
Thursday, August 25, 2016 Seadrill says the oil industry may be turning a corner as it posts Q2 earnings above forecasts.
Thailand Embarking On LNG Shopping Spree As Glut Depresses Price
Thursday, August 25, 2016 Bangkok is about to become a very important destination for sellers of liquefied natural gas.
Saudi Prince To Discuss Reform Drive In Visits To China, Japan
Wednesday, August 24, 2016 Saudi Arabia's powerful Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and sources say.
Norway's Oil Investments To Fall Again In 2017
Wednesday, August 24, 2016 Investment in Norway's oil and gas sector will drop next year as weak crude prices push energy companies to rein in their budgets.
Obama's Final GOM Western Area Lease Sale in Louisiana Nets $18 Million
Wednesday, August 24, 2016 Against a backdrop of historic flood damage, the first federal offshore oil and gas lease sale broadcasted on the internet delivers two dozen offers.
BLOG: Can OPEC Return from its Near-Death Experience?
Wednesday, August 24, 2016 A production freeze at record volumes might not do much to stabilize a market that appears to be stabilizing itself, but it could signal OPEC's return to relevance.
Exxon's Pacific Gas Partner Sees LNG 'Revolution' Among Buyers
Wednesday, August 24, 2016 Exxon Mobil Corp.'s partner in a $15 billion liquefied natural gas export project in Papua New Guinea sees Asian buyers pushing back on the pricing and structure of LNG contracts as a glut of supply gives them greater bargaining power.
SDX CEO: Egypt Oil, Gas Sector Set to Grow Within Next 5 Years
Wednesday, August 24, 2016 Egypt's oil and gas industry is set to grow within the next five years, bringing with it increased production and more jobs, SDX CEO Paul Welch says.
Oil Prices Fall off Larger than Expected Rise in Crude Inventories
Wednesday, August 24, 2016 Oil prices fall immediately following the release of the EIA's Weekly Petroleum Status Report.

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Exploration

Thailand To Open Bids For Energy Concessions In March 2017
Thursday, August 25, 2016 Thailand's military government plans to open bids in March 2017 for expiring oil and gas contracts held by Chevron Corp and PTT Exploration and Production.
Oil, Gas Found in Chachahuen Block, Argentina
Thursday, August 25, 2016 Oil and gas discoveries have been made in the Chachahuen block in the Province of Mendoza, Argentina.
Mexico Energy Regulator Names Firms Qualified For Deepwater Tender
Thursday, August 25, 2016 Mexico's energy regulator says that 26 companies had qualified to participate in the country's deepwater oil tender in December, the jewel in the crown of a landmark energy sector opening.
EGME: Work Begins on 2D Seismic Survey in Wajir Kenya
Wednesday, August 24, 2016 Work commences on the 2D seismic survey of Block 2A in Wajir, Kenya.
SDX Energy 'Well Placed' to Drill South Disouq Well
Wednesday, August 24, 2016 SDX Energy Inc. is well placed to maximize the potential of its South Disouq asset in Egypt, says the company's president and CEO Paul Welch.
GE Oil & Gas Secures Wellhead Services Contract with ONGC
Tuesday, August 23, 2016 GE Oil & Gas secures a multi-million dollar frame agreement with Oil and Natural Gas Corporation Limited (ONGC), India's largest exploration and production company.
Statoil to Buy P.2170 License Stake in Quest to Become Active UKCS Explorer
Tuesday, August 23, 2016 Statoil signs an agreement with Jersey Oil and Gas plc and CIECO Exploration and Production (UK) Limited to acquire a 70% ownership and operatorship of the P.2170 license on the UKCS.
OVL Given More Time by Vietnam to Explore Block 128 in South China Sea
Tuesday, August 23, 2016 India's ONGC Videsh (OVL) gets an extension from Vietnam to continue exploration in Block 128 in the South China Sea.
BP to Drill Fewer Wells in Revised Great Australian Bight Environment Plan
Monday, August 22, 2016 BP reduces the number of wells it plans to drill in its revised environmental plan for the Great Australian Bight project offshore Southern Australia.

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Production

Statoil Starts Production From Fram C East Well
Thursday, August 25, 2016 Production begins from the Fram C East production well offshore Norway.
NPD Grants Statoil Lifetime Extension for Gullfaks B
Thursday, August 25, 2016 The NPD grants Statoil permission to use the B platform on the Gullfaks field in the North Sea until January 1, 2036, which corresponds to the length of the production license.
OPEC Meeting Won't Result in Production Freeze, Cut
Thursday, August 25, 2016 OPEC's informal September meeting in Algeria won't result in a production freeze or a production cut, says global investment banking firm Jefferies.
Beach Energy Completes Callawonga-12 Well Drilling in Cooper Basin
Thursday, August 25, 2016 Beach Energy completes drilling of Callawonga-12 development well in South Australia's Cooper Basin, with the rig expected to drill 1 to 2 exploration wells in PRL 85-104 in October.
OGDCL Successfully Completed Testing of 2 Wells in Pakistan's Nashpa Field
Thursday, August 25, 2016 Oil & Gas Development Co. Ltd. (OGDCL) successfully completed testing of the Nashpa #6 & 7 development wells in the Nashpa field in Pakistan.
Iran Signals More Willingness For OPEC Action To Boost Oil Price
Wednesday, August 24, 2016 Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry say.
Iran Likely to Grant Development of 2 Oil Fields to China's CNPC, Sinopec
Wednesday, August 24, 2016 Iran is likely to grant the development of 2 major oil fields in the country's southwestern Khouzestan province to China's CNPC and Sinopec.
MOFT Bags $230M FSO Deal for Chevron's Benchamas 2 Project off Thailand
Wednesday, August 24, 2016 Malaysia's MISC Offshore Floating Terminals (MOFT) bags a $230 million contract to lease and operate a floating storage and offloading vessel for Chevron's Benchamas 2 Project in the Gulf of Thailand.
Cooper Energy Seeks New Buyer for Tangai-Sukananti KSO in Sumatra
Wednesday, August 24, 2016 Cooper Energy seeks buyer for its stake in the Tangai-Sukananti KSO in South Sumatra, Indonesia after the ACL-Lamara joint venture terminated the purchase transaction.
Erskine Field Production Start-Up Delayed
Tuesday, August 23, 2016 The re-commencement of full, continuous production from the Erskine field has been delayed.
India's TERI, Australia's UNSW to Boost Gas Yields at ONGC-Operated Wells
Tuesday, August 23, 2016 India's TERI and Australia's University of New South Wales (UNSW) form a partnership to boost gas yields from coal seam gas well operated by ONGC in the country.

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Finance and Investing

Russia's Gazprom Neft Q2 Net Profit At 48.9B Rbls
Thursday, August 25, 2016 Gazprom Neft, one of Russia's top oil producers, made a net profit of $752 million in Q2.
China Oil Giants Unmoved By Bull Rally After Worst Earnings
Thursday, August 25, 2016 After posting their worst-ever half-year results, two of China's oil giants aren't getting carried away by crude's return to a bull market, forecasting a rocky path ahead.
Petrochina Profits Sink As Weak Prices, Oversupply Bite
Wednesday, August 24, 2016 PetroChina Co Ltd reports sharply lower profits for the first half of the year, hit by slowing demand growth for refined products, an oversupply of crude and weak prices.
China's CNOOC Swings To H1 Loss, Punished By Weak Oil, Gas Prices
Wednesday, August 24, 2016 CNOOC Ltd swings to a loss in the first half of 2016 as revenue sank almost by a third because of lower crude oil and natural gas prices.
Thailand's PTTEP Cuts 2016 Investment Budget 15% To $1.7B
Tuesday, August 23, 2016 Thailand's largest oil and gas explorer, PTT Exploration and Production has cut its 2016 investment budget to $1.7 billion from $2 billion due to a cost reduction measure, an executive says.
China Oil Giants Seen Soothing Investors With Post-Crash Payouts
Tuesday, August 23, 2016 China's biggest oil companies may use special dividends to soothe investors after the collapse in energy prices.
Indonesia's Aneka Gas Industri Targets $75M In IPO
Monday, August 22, 2016 Indonesian gas producer PT Aneka Gas Industri sets its initial public offering price range at 1,000-1,290 rupiah per share.
Malaysia's Petronas Q2 Profit Falls 85% On Low Oil Prices, Impairments
Monday, August 22, 2016 Petronas says its net profit fell 85% in Q2 due to low crude oil prices and a jump in impairment charges.

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Company Operations

Kazakh KazMunayGaz Says Plans No New Offer For KMG EP
Thursday, August 25, 2016 KazMunayGaz has no immediate plans to make a new offer to the minority shareholders of its London-listed upstream unit.
BW to Provide FSRU for Pakistan's Second LNG Terminal Project
Thursday, August 25, 2016 BW signs agreement with Pakistan GasPort Ltd. (PGPL) to provide a floating storage and regasification unit (FSRU) for Pakistan's second liquefied natural gas (LNG) terminal.
Cosco Delivers 2 Jackups to Foresight Group and a PSV to a European Buyer
Thursday, August 25, 2016 Cosco Dalian delivers 2 jackups to the Foresight Group, while a European buyer took delivery of a platform supply vessel (PSV) from Cosco Guangdong.
Sparrows Group Partners with SapuraKencana in the Asian Pacific
Wednesday, August 24, 2016 New partnership extends Sparrow Group's presence in the Asian Pacific market to service both offshore and onshore Malaysia.
Sound Energy Appoints Ex-BG Exploration Lead
Wednesday, August 24, 2016 Sound Energy plc appoints Brian Mitchener as the company's executive vice president of exploration.
Sembcorp Marine Acquires Remaining 15% Stake in PPL Shipyard for $115M
Wednesday, August 24, 2016 Sembcorp Marine acquires 15 percent interest in PPL Shipyard for $115 million, giving it full ownership of the Singapore yard.
DMB Reveals Value of Recent Deal with Schlumberger in Saudi Arabia
Wednesday, August 24, 2016 Daya Materials Berhad (DMB) says its unit Daya Maxflo's recent contract with Schlumberger in Saudi Arabia was worth around $9.2 million.
Cobalt International Says Angola Oil Block Stake Sale Terminated
Tuesday, August 23, 2016 Cobalt International Energy Inc says the proposed $1.75 billion sale of a 40% stake in 2 offshore oil blocks in Angola to the state oil company was terminated.
PETRONAS Minimizes Staff Redundancy to Facilitate Capability Development
Tuesday, August 23, 2016 Malaysia's PETRONAS minimizes layoffs in order for the firm to continue with its capability development, a senior executive says.

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Policy

Canada May Ask Oil Firms to Pay Extra for Far-Offshore Drilling
Wednesday, August 24, 2016 Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, according to an internal government memo.
Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Monday, August 22, 2016 Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister says, standing by a demand made by his predecessor.
Texas Railroad Commission Overhaul in the Works
Friday, August 19, 2016 Commissioner Christi Craddick and industry interest groups work on new initiatives before Texas Legislature convenes.
Indonesian Acting Energy Minister Says Abadi LNG Remains a Priority Project
Thursday, August 18, 2016 Indonesia's Acting Minister for Energy and Mineral Resources Luhut Panjaitan says the Abadi liquefied natural gas project in the offshore Masela block remains a priority project for the country.
OPEC's Former Head Says Conditions Right for Oil-Freeze Deal
Wednesday, August 17, 2016 OPEC is on course to strike an output-freeze deal with fellow oil producers in Algiers next month because its biggest members are already pumping flat-out, the group's former president says.
Kemp: Will OPEC Agree To Freeze Output In Sept?
Tuesday, August 16, 2016 OPEC and non-OPEC countries are again flirting with the idea of a production freeze to accelerate oil-market rebalancing, according to recent statements by several oil ministers.

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