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Industry Headlines

In Fight Over Oil Prices With Saudi Arabia, It's Advantage Iran
Tuesday, September 27, 2016 Suddenly the tables have been turned on Saudi Arabia.
UK Industry Group Slashes Oil Estimate As Price Drop Hits Investment
Tuesday, September 27, 2016 Industry group UK Oil and Gas has slashed its estimate of Britain's existing oil and gas reserves by a third, saying weak oil prices have made it less likely that some resources will ever be retrieved.
Oil Climbs as Saudi Arabian Offer Opens Door to Future OPEC Deal
Monday, September 26, 2016 Oil advanced as Saudi Arabia's offer to cut output opened the door to a future OPEC deal, though the kingdom doesn't expect an agreement when members of the group meet this week.
Saudi Aramco Sees Oil Demand 'Steady' as Supply Growth Slows
Monday, September 26, 2016 Slower growth in oil supply is helping the crude market to re-balance, and prices are set to increase over time, according to the head of the world's biggest producer.
Saudis Willing To Act On 'Critical' Oil Market, Algeria Says
Monday, September 26, 2016 Saudi Arabia, the world's biggest oil exporter, has offered to cut its output to January levels, Algeria's energy minister says as he prepares to host a meeting of OPEC producers later this week.
Niger Delta Avengers Blow Up Bonny Crude Line
Monday, September 26, 2016 Nigerian militant group Niger Delta Avengers says that it attacked the Bonny crude export line.
OPEC Production Deal May Be On Hold
Monday, September 26, 2016 Given recent chatter about expectations and what individual countries are willing to do, analysts are looking to a formal meeting Nov. 30 for a decision announcement.
Singapore's NUS Slowly Builds its Petroleum Engineering Program
Monday, September 26, 2016 The National University of Singapore capitalized on the industry downturn to recruit experienced staff for its fledgling petroleum engineering program.
BLOG: Keeping Experienced Staff in Downturn a Tough Call for Asian Services
Monday, September 26, 2016 Asian offshore oil and gas services companies are caught in a dilemma of retaining experienced staff in the current industry amid cost-cutting pressure.

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Exploration

Hague Court To Arbitrate In East Timor-Australia Maritime Border Dispute
Monday, September 26, 2016 The Permanent Court of Arbitration in the Hague will oversee a compulsory arbitration between East Timor and Australia on their maritime boundary.
PETRONAS Signs Contract with Schlumberger for Campeche Basin Seismic Survey
Friday, September 23, 2016 Schlumberger signs agreement with PETRONAS to license WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico.
Polarcus Bags Broadband 3D Marine Seismic Contract in Australasia
Friday, September 23, 2016 Polarcus bags a contract to provide broadband 3D marine seismic project in Australasia.
Gazprom Discovers New Gas Deposit in Sea of Okhotsk
Thursday, September 22, 2016 Gazprom saya it has discovered a new gas deposit during exploration at the Kirinskoye field in the Sea of Okhotsk near Russia's Sakhalin island.
Indonesia Ends Oil Exploration Taxes In Bid To Revive Investment
Thursday, September 22, 2016 Indonesia will eliminate taxes on oil and gas exploration this week in an effort to bolster investment in the country's flagging oil and gas sector.
CGG Completes Phase 1 of Davros 3D Multi-Client Seismic Survey in NWS
Thursday, September 22, 2016 CGG completes Phase 1 of the Davros 3D multi-client seismic survey in the Northern Carnarvon Basin on Australia's North West Shelf.

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Production

Real Energy Prepares for Tamarama-1 Well Test Program in Queensland
Tuesday, September 27, 2016 Real Energy prepares for a well test program at the Tamarama-1 well in Permit ATP 972P in Queensland, Australia.
Aminex Secures Rig to Drill Ntorya-2 Well in Tanzania's Ruvuma Basin
Monday, September 26, 2016 Aminex inks deal for rig to drill the onshore Ntorya-2 appraisal well in Tanzania's Ruvuma Basin in the last quarter of 2016.
Crude Oil Export Trends in the Middle East
Friday, September 23, 2016 August movements exemplify a shift within the landscape of Middle East exports.
Russia's Rosneft To Sell 96M Tons Of Crude Oil To Petrovietnam
Friday, September 23, 2016 Rosneft signs a contract to supply 96 million tons of crude oil to PV Oil, an affiliate of state oil and gas PetroVietnam, starting next year.
Russia's Gazprom Says Output at Bolivian Field to Double by Mid-2019
Thursday, September 22, 2016 Russian gas giant Gazprom plans to double gas production at Bolivia's Incahuasi field to 13 million cubic metres per day by mid-2019.
Russia Says 'In Theory' It Can Cut Oil Output By 5%
Thursday, September 22, 2016 Russia can "in theory" reduce its oil output by 5%, Russian Deputy Energy Minister Kirill Molodtsov said on Thursday.
PNG Government Prefers Exxon, Total Pursue 2nd LNG Project
Thursday, September 22, 2016 Papua New Guinea is backing a new greenfield liquefied natural gas facility led by France's Total SA in addition to an expansion of the existing $19 billion Exxon Mobil Corp. PNG LNG project.

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Finance and Investing

Aramco CEO Says Studies Several Foreign Exchanges For 2018 Listing
Monday, September 26, 2016 Saudi Aramco continues to look at several overseas exchanges including New York, Hong Kong and London for a listing in 2018 of a part of the state-owned oil company, CEO Amin Nasser says.
Malaysian Banks Brace For Profit Hits As O&G Firms Restructure Debt
Monday, September 26, 2016 Malaysian lenders are bracing for a hit to profits this year as they bump up provisions for sour loans to the local oil and gas services sector that has been battered by the slump in energy prices and cutbacks in projects.
New Banking Regulations Pushed Oil, Gas Bankruptcies, Expert Says
Friday, September 23, 2016 Regulations that tied bankers' hands during the downturn forced some oil and gas companies into bankruptcy, key energy lender says.
Russian Finmin: No Revolutionary Changes To Oil, Gas Tax Regime
Friday, September 23, 2016 Russian Finance Minister Anton Siluanov says any changes in the oil and gas tax regime would not be "revolutionary" but energy taxes were to increase.
Nigeria Lawmakers To Investigate $17B Oil Theft Claim
Friday, September 23, 2016 Lawmakers in Nigeria's lower house of parliament are to investigate whether $17 billion of petroleum and fuel exports were stolen by companies and government agencies.
Petrobras Cuts Spending, Raises Asset Sales Goal In 5-Year Plan
Tuesday, September 20, 2016 Petrobras cut planned investment by 25% under a five-year plan to reduce its massive debt, and revive investor confidence after a sweeping corruption scandal.

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Company Operations

Farstad Shipping Sells AHTS Lady Sandra
Tuesday, September 27, 2016 Norway's Farstad Shipping sells anchor handling tug supply (AHTS) vessel Lay Sandra.
Rice Energy to buy Vantage Energy for about $2.7B
Monday, September 26, 2016 Oil and gas producer Rice Energy Inc will buy Vantage Energy LLC and Vantage Energy II LLC for about $2.7 billion, including debt.
Saudi Aramco Recruiting Steadily, Has Not Laid Off Staff
Monday, September 26, 2016 Saudi Aramco was "recruiting steadily" and hadn't laid off staff, Mohammed al-Qahtani, the oil giant's senior vice president of upstream said on Monday.
Swire Oilfield Services Appoints New CEO
Monday, September 26, 2016 Swire Oilfield Services, a supplier of cargo carrying units to the offshore energy industry, has appointed John Bruce Rae-Smith as its new CEO.
Lamprell Secures Services Contract with Jacktel AS
Monday, September 26, 2016 Lamprell plc secures a new contract from Jacktel AS for the upgrade of the Haven mobile operating unit as an accommodation service vessel for Statoil's Johan Sverdrup field, offshore Norway.
Aker Solutions Lets Employees Buy Company Shares
Monday, September 26, 2016 Oilfield services company Aker Solutions will, for the eighth consecutive year, offer employees in selected jurisdictions the opportunity to buy shares of the company.
TH Heavy Engineering, McDermott End Partnership in Malaysia
Monday, September 26, 2016 Malaysia's TH Heavy Engineering and McDermott end their three-year partnership for offshore oil and gas projects in the country.
Baron Oil, SundaGas Form JV to Explore E&P Opportunities in Southeast Asia
Monday, September 26, 2016 Baron Oil enters into a joint venture with Singapore-based exploration and production company SundaGas to look into upstream opportunities in Southeast Asia.

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Policy

UK Shale Gas: UKOOG Responds to Labour's Fracking Ban Pledge
Monday, September 26, 2016 UKOOG says that a "one size fits all" approach to energy policy in the UK would have a detrimental effect on the economy as the Labour Party pledges to ban fracking.
Oil Industry Welcomes Indonesia's Tax Reform, But Says It's Not Enough
Friday, September 23, 2016 Indonesia's removal of taxes on oil and gas explorers is a good first step, but more is needed to lure investment from companies that have cut budgets and laid off staff after a precipitous plunge in prices, industry analysts say.
OPEC Chief: Oil Market Stabilization Deal May Last One Year
Tuesday, September 20, 2016 A possible deal to support oil prices by the world's leading producer countries may last for one year, the secretary-general of OPEC says.
OPEC May Hold Formal Oil Talks If Members Agree in Algiers
Monday, September 19, 2016 OPEC may convene an extraordinary meeting if the group's ministers reach a consensus on oil markets at an informal gathering next week in Algiers, Secretary General Mohammed Barkindo says.
Exxon's Accounting Practices Said to Be Reviewed by New York
Friday, September 16, 2016 New York Attorney General's probe into Exxon includes scrutiny of why it didn't write down the value of oil fields during a global collapse in prices that prompted billions in write-offs by rival drillers.
Japan PM Adviser Says No Gov't Plan To Invest In Saudi Aramco
Friday, September 16, 2016 Japan's government has no plan to invest in state-run oil firm Saudi Aramco's planned initial public offering, an adviser to Japanese Prime Minister Shinzo Abe said on Friday.

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