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Friday, December 19, 2014 - Singapore's major yards managed to keep busy in the second half of 2014 after experiencing a slow first half in orders for rig & platform fabrication and vessel conversions.
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Industry Headlines

Report: Only Three out of Four IOCs Generating Enough Free Cash at $60/bbl
Friday, December 19, 2014 IOCs will need to cut spending by $170 billion in 2015 in order to keep net debt flat at $60/barrel, according to a Wood Mackenzie report.
Halliburton CEO: Restructuring Possible as 2015 Looks to Be 'Tough Year'
Friday, December 19, 2014 Halliburton may further restructure its operations as 2015 looks to be "tough year" for oil and gas industry.
Two Killed, Three Hurt In Oklahoma Oil Rig Explosion
Friday, December 19, 2014 An explosion and fire at a southeastern Oklahoma oil rig early Friday killed two workers and injured three others, two of them critically.
Report: Texas Could Face 2.7 Trillion Gallon Water Shortfall by 2060
Friday, December 19, 2014 The state of Texas could face a water shortfall of 2.7 trillion gallons by 2060, according to a recent report by Texas A&M University's Mosbacher Institute.
In North Dakota, Countdown Looms For $5.3 Billion Oil Tax Break
Friday, December 19, 2014 Tumbling US oil markets hit an important if obscure milestone Thursday, closing for the first time at a price that could trigger a $5.3B, 2-year tax break for North Dakota oil drillers.
New York Commission Will Recommend Banning Fracturing
Friday, December 19, 2014 New York, which is a net importer of energy, could be a part of the solution to its energy problems by following the lead of its neighboring states Pennsylvania, West Virginia and Ohio.
Exec: Bakken Rail Loading Available Today, Will Be Vital Tomorrow
Friday, December 19, 2014 Crude oil export options are expanding and diversifying for Bakken producers.
University of Colorado's GEM Program Prepares for the 'Big Crew Change'
Friday, December 19, 2014 CU offers its GEM Program for energy industry workers wishing to enhance their careers while obtaining a Master of Science degree.
Oil Jumps 5% Second Time In Week On Short-Covering
Friday, December 19, 2014 Oil prices jump more than 5% for a second time in a week as short-covering alleviated pressure in a market dominated by sellers the past six months.
Singapore Shipyards Keep Busy in Second Half of Year
Friday, December 19, 2014 Singapore's major yards managed to keep busy in the second half of 2014 after experiencing a slow first half in orders for rig & platform fabrication and vessel conversions.

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Norway Delays Arctic-Focused Oil Licensing Round Until 2015
Friday, December 19, 2014 Norway's government delays the launch of its Arctic-focused oil and gas licensing round until next year, the oil ministry says.
Rose is Granted Utah Drilling Permit
Thursday, December 18, 2014 Rose Petroleum is granted a drilling permit by the State of Utah ahead of the start of operations at its Mancos Well in the Uinta Basin.
ExxonMobil Says Hits More Shale Oil, Gas In Argentine Region
Thursday, December 18, 2014 ExxonMobil has struck shale oil and gas at a second well in Argentina's Neuquen province, a region that sits atop Vaca Muerta, one of the world's largest shale resources.
Chevron Cancels Canadian Arctic Drilling As Oil Prices Slide
Wednesday, December 17, 2014 Chevron says a plan to drill for oil in the Beaufort Sea in Canada's Arctic is on hold indefinitely because of what it called "economic uncertainty in the industry" as oil prices fall.
Ivory Coast Signs Deals with ExxonMobil for Two Oil Blocks
Wednesday, December 17, 2014 Ivory Coast signs production sharing agreements with Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea.
Obama Withdraws Alaska's Bristol Bay From Drilling
Tuesday, December 16, 2014 President Barack Obama announced that he's removing more than 52,000 square miles of waters off Alaska's coast from consideration for oil and gas exploration or drilling.
Total Delays Bulgaria Exploration Citing Oil Price Tumble
Tuesday, December 16, 2014 Total says that drilling for oil and gas at an exploration block off Bulgaria's Black Sea coast will be delayed by at least six months.

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Schlumberger Awarded Contract for Mariner Field
Friday, December 19, 2014 Statoil has on behalf of the Mariner co-venturers awarded the contract for integrated drilling and well services on the Mariner field on the UKCS to Schlumberger Oilfield UK.
Shell Agrees Sale of Norwegian Downstream Businesses
Thursday, December 18, 2014 Royal Dutch Shell agrees to sell its Norwegian retail, commercial fueld and logistics businesses to ST1.
FMC Clinches Subsea Systems Gig Offshore Nigeria
Wednesday, December 17, 2014 FMC Technologies receives an order from Star Deep Water Petroleum Limited (a Chevron company) to provide subsea equipment for operations in the Agbami field offshore Nigeria.
Technip Wins $125M Terminal Project with ONGC in India
Wednesday, December 17, 2014 Technip wins $125 million deal to build a 212-million cubic feet per day onshore oil terminal in India.
Stage Two of Russia's Urengoyskoye Field Launched
Wednesday, December 17, 2014 Novatek reports the launch of the second stage of the Urengoyskoye field, onshore Russia.
Shaikan Production to Increase to 40,000 Barrels per Day
Tuesday, December 16, 2014 Work is completed on Iraqi Kurdistan's Shaikan field that will see it soon produce 40,000 barrels of oil equivalent per day.
Australia's Woodside Postpones Decision On Browse LNG Project
Tuesday, December 16, 2014 Woodside Petroleum says it was postponing an investment decision on whether to proceed with development of the Browse floating LNG project off the coast of Australia due to low oil prices.

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Finance and Investing

Oil Price Plunge Forces Nigeria To Slash 2015 Growth Forecast
Wednesday, December 17, 2014 Nigeria has slashed its forecast for economic growth in 2015 due to the plunge in global oil prices, the finance minister's budget presented to parliament on Wednesday showed.
Mosman Oil and Gas Plans to Acquire 100% Interest in MEO Australia
Friday, December 12, 2014 Mosman Oil and Gas plans a takeover bid for 100 percent interest in MEO Australia.
Minister: Brazil Govt Plans Petrobras Asset-Backed Debt Offer
Thursday, December 11, 2014 The Brazilian government is working on a plan to help embattled Petrobras borrow money through an offering of asset-backed securities before year end, Mines and Energy Minister Edison Lob?o says.
Lower Oil Prices Prompt Norway Interest Rate Cut
Thursday, December 11, 2014 In a surprise move, Norway's central bank cuts its key lending rate as it frets over the impact of the sharp fall in oil prices on the country's economy.
Octanex Gets Funds from SIP for Joint Investment in Southeast Asia Projects
Tuesday, December 09, 2014 Octanex secures funding from Sabah International Petroleum to jointly pursue upstream projects in Malaysia, Indonesia and the Philippines.
Israel's Delek Group Buying Shares In Foreign Energy Companies
Wednesday, December 03, 2014 Delek Group buys $170 million worth of shares in foreign oil and gas companies.

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Company Operations

Baker Hughes: US Oil Drillers Cut Rigs, Lowest Since May
Friday, December 19, 2014 The number of rigs drilling for oil in the United States fell by 10 this week as low crude prices continued to threaten energy company revenues.
Brazil's Rousseff Vows Clean-Up Of Scandal-Tainted Petrobras
Friday, December 19, 2014 Brazilian President Dilma Rousseff, dogged by a multibillion-dollar corruption scandal at Petrobras, vowed to stamp out graft at the flagship firm and place it under strict corporate governance.
Norway's PGS Cuts Profit Forecast, Sees Lower Dividend
Friday, December 19, 2014 PGS cut its 2014 profit forecast and said earnings would fall next year, likely forcing a dividend cut, as the oil industry goes through a period of turbulence.
Det norske Appoints New Head of Projects
Thursday, December 18, 2014 Det norske oljeselskap appoints Olav Henriksen as its new head of projects.
Indonesia's Pertamina Says Oil Drop Hits Profits, Growth Plans
Thursday, December 18, 2014 Indonesia state oil and gas firm Pertamina sees a more than 20-percent fall in its net profit for 2014.
Court Reviewing Arrest Warrant Application for KOGAS CEO
Thursday, December 18, 2014 South Korean prosecutors say a court is reviewing an arrest warrant application for the chief executive of state-run Korea Gas Corporation, Jan Seok-hyo.
Former Shell Head Voser Returns To ABB As Chairman
Thursday, December 18, 2014 ABB names former Shell boss Peter Voser as its new chairman, a homecoming for a man who was previously finance chief at the company.

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