Industry Headlines

Anadarko Ordered To Pay $159.5M Fine For 2010 Gulf Spill
Tuesday, December 01, 2015 A federal judge ordered Anadarko to pay a $159.5 million civil fine reflecting its stake in the 2010 blowout.
Schlumberger To Cut More Jobs As Drilling Downturn Bites
Tuesday, December 01, 2015 Schlumberger announces another round of job cuts, as low oil prices and a slowdown in drilling was expected to continue into next year.
Norway's Offshore Shipping Sector Faces Bleak Year As Oil Price Pain Deepen
Tuesday, December 01, 2015 Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options dwindle in the face of weak global crude prices.
Oil Bulls Brace for Repeat of OPEC's Bearish Blow at Meeting
Tuesday, December 01, 2015 Hedge funds are betting this week's OPEC meeting will deliver another bearish blow to crude.
Ultrasonic Measuring Technology Updated with Permasense Design
Tuesday, December 01, 2015 Permasense's technology enhances ultrasonic wall thickness measurement for the downstream and now upstream oil and gas industries.
Brent Slips On OPEC Worry; US Crude Steady Ahead Of Inventory Data
Tuesday, December 01, 2015 Benchmark Brent crude settles down on bets OPEC will not cut output to stem a supply glut when the world's biggest oil producers meet later this week.
IEA Sees India's Oil Demand Rising to 10 MMbopd by 2040
Monday, November 30, 2015 India's oil consumption is set to reach 10 million barrels per day by 2040 due to strong growth in domestic energy demand, the International Energy Agency says in a report.



Mexico Reveals Bid Minimums For December's Onshore Oil Auction
Tuesday, December 01, 2015 Mexico's government will require winning oil companies to bid at least 1% of pre-tax profits in next month's onshore oil auction, the country's Finance Ministry says.
Empire O&G Continues Drilling at Red Gully North-1 Prospect in Perth Basin
Tuesday, December 01, 2015 Empire Oil & Gas continues drilling operations at the Red Gully North-1 prospect in permit EP389 in Perth Basin, Western Australia.
NPD Grants Lundin Drilling Permit for Well 16/4-10
Monday, November 30, 2015 The Norwegian Petroleum Directorate grants Lundin Norway AS a drilling permit for well 16/4-10, located in production license 544 offshore Norway.
88 Energy Expects Icewine #1 Drilling to Remain in Budget Despite Delays
Friday, November 27, 2015 88 Energy Limited expects its drilling operations at the Icewine #1 exploration well, located onshore Alaska, to remain within budget despite delays related to equipment repair.
Senegal JV Partners Receive 3-Year PSC Extension
Friday, November 27, 2015 FAR Ltd, along with its joint venture partners, receives a presidential decree to extend a current Petroleum Sharing Contract (PSC) in Senegal by three years, starting from February 6, 2016.
PEPANZ Highlights Key Themes for 2016 New Zealand Petroleum Conference
Friday, November 27, 2015 The Petroleum Exploration & Production Association of New Zealand highlights two key themes of the 2016 New Zealand Petroleum Conference.



Lekoil Acquires Afren's Stake in the Ogo Field Offshore Nigeria
Tuesday, December 01, 2015 Lekoil agrees to buy Afren's entire 22.8-percent stake in Nigeria's OIL 310 license, which contains the Ogo offshore discovery.
Snam Agrees to Buy Statoil's Stake in TAP Pipeline
Tuesday, December 01, 2015 Snam agrees to buy a 20-percent stake in the Trans Adriatic Pipeline from Norway's Statoil in a move that will expand the Italian gas transporter's geographical footprint.
IOCs Cut Kurdistan CAPEX due to Payment Trouble
Tuesday, December 01, 2015 DNO, Genel and Gulf Keystone's combined CAPEX in Kurdistan has fallen considerably as a result of the Kurdistan Regional Government's lack of payment to producing international oil companies.
SPIE Bags $13M Maintenance Services Contract for Australia's QCLNG Project
Tuesday, December 01, 2015 SPIE Oil & Gas Services bags a $13 million contract to provide maintenance services for the Queensland Curtis Liquefied Natural Gas project in Australia.
Interra's Unit Spuds CHK 1199 Development Well in Myanmar's Chauk Oil Field
Tuesday, December 01, 2015 Interra Resources' joint venture unit drills CHK 1199 development well in the Chauk oil field in Myanmar.
BP Jan-Sept Oil Output at Azeri Fields Dips on Platform Maintenance
Monday, November 30, 2015 Oil output from BP-led oilfields in Azerbaijan in the first three quarters of 2015 dipped compared with a year earlier, BP-Azerbaijan said, due to platform maintenance earlier this year.


Finance and Investing

Russia's Lukoil says 3Q Net Profit Falls 62%, Below Forecast
Monday, November 30, 2015 Lukoil's 3Q net profit falls by around 62% year-on-year to $623 million, missing a $922 million analysts' forecast in a Reuters poll.
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.


Company Operations

Transocean's Norway Deal Marks New Rig-Rate Low in Oil Slump
Tuesday, December 01, 2015 Transocean won a contract to drill four wells off Norway for Det Norske at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year.
Canadian Oil Sands 2016 Capex Budget 35% Lower than 2015
Tuesday, December 01, 2015 Canadian Oil Sands sets a capital spending target of $221 million for 2016, down about 35 percent from the estimated budget for 2015.
Source: China's Fosun Looks to Buy Israel Gas Fields from Delek
Tuesday, December 01, 2015 Chinese investment group Fosum International is interested in buying two small natural gas fields in the eastern Mediterranean from Israel's Delek Group, according to a source.
Singapore Rig-Builder Sembcorp Marine Says to Record 4Q Net Loss
Tuesday, December 01, 2015 Singapore's Sembcorp Marine says it is expected to record a net loss for the fourth quarter due to a challenging operating environment.
Sterling Energy in Dispute with Cameroon over Ntem Block
Tuesday, December 01, 2015 West Africa-focused Sterling Energy is in a dispute with the Republic of Cameroon over the ownership status of the Ntem block.
Expro Secures a 5-Year Contract in Qatar
Tuesday, December 01, 2015 Expro secures a five year well intervention and slickline services contract in Qatar as part of its Middle East business expansion.
EOR to Pay Lower Purchase Price for Indonesia's Wailawi Field Operator CEP
Tuesday, December 01, 2015 Australia's Enhanced Oil and Gas Recovery re-negotiates a lower purchase price for Centre Energy Petroleum, operator of the Wailawi Oil & Gas Project in East Kalimantan, Indonesia.
Marco Polo Marine Updates on Jackup Construction Dispute with PPL Shipyard
Tuesday, December 01, 2015 Marco Polo Marine updates on the dispute between Marco Polo Drilling and PPL Shipyard over the termination of a jackup construction contract.



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