Industry Headlines

Baker Hughes: US Oil Drillers Cut Rigs For 6th Week On Weak Crude Prices
Friday, October 09, 2015 US energy firms cut oil rigs for a sixth week in a row this week, the longest streak of weekly declines since June, data showed, a sign low prices continued to keep drillers away from the well pad.
85 Gas Projects Dying on the Vine as LNG's Promise Falls Short
Friday, October 09, 2015 Five years ago, energy companies hungry for the next big thing began planning as many as 90 terminals to send natural gas around the globe. Now, it seems the world only needs five more.
Petronas Renews Pledge to Export Canadian Gas as Analysts Doubt
Friday, October 09, 2015 Petronas says it will proceed with its $28 billion Canadian natural gas export project in the face of a market slump that?s shaking profitability expectations for the global industry.
House Passes Bill Axing US Oil Export Ban, Veto Looms
Friday, October 09, 2015 A bill to repeal the US oil export ban passes the House of Representatives, but faces an uncertain future after a veto threat by President Barack Obama.
Rigzone Surveys Reveal Employer, Candidates Behavior during Downturn
Friday, October 09, 2015 Rigzone's most recent surveys reveal the behaviors and practices of job-seekers and employers during the industry downturn.
Kemp: Oil Prices Strengthen, Shrug Off Goldman Warning
Friday, October 09, 2015 Timespreads for WTI and Brent futures have strengthened significantly over the last month as fears about another big build up in crude oil stocks eased.
More Reforms Needed to Make Mexico Successful
Friday, October 09, 2015 The leaders in Mexico know that oil and gas activity can help alleviate many problems facing the people of Mexico, but the question is will they make the needed reforms?
China Investigates Former Sinopec Chairman for 'Discipline Violations'
Thursday, October 08, 2015 Chinese authorities have placed the governor of Fujian province, who is also the former chairman of Sinopec, under investigation on suspicion of "serious disciplinary violations", China's anti-graft watchdog says.



President Energy: Boqueron Prospect is 'Compelling Drilling Opportunity'
Friday, October 09, 2015 The largest prospect in Paraguay's Hernandarias Block, Boqueron, could contain gross unrisked recoverable oil and gas resources of 302 million barrels of oil equivalent and 559 billion cubic feet of gas, respectively.
Buru Energy Updates on Drilling at Victory 1 Well in WA's Permit EP 457
Friday, October 09, 2015 Buru Energy provides drilling update at Victory 1 well in Permit EP 457 in Western Australia.
Europa Eyes Porcupine Farm-out in Early 2016
Friday, October 09, 2015 Europa Oil & Gas plc CEO Hugh Mackay confirms that the company will begin the farm-out process of its assets in the Porcupine Basin, offshore Ireland, as early as January 2016.
Frontera Increases Georgia Gas Resource Estimate More Than Tenfold
Thursday, October 08, 2015 Frontera Resources increases the gas resource estimate of its operations in eastern Georgia more than tenfold, compared to previous estimates.
Petrobras and Majors Sit Out Worst Brazil Oil Round in Decade
Thursday, October 08, 2015 Petrobras sits out an oil licensing round in Brazil for the first time ever as the beleaguered state-run oil giant struggles to reduce the industry's biggest debt load.
NuEnergy Updates on Drilling at Tanjung Enim, Rengat PSCs in Sumatra
Thursday, October 08, 2015 Australia's NuEnergy Gas provides an update on drilling progress at the Tanjung Enim and the Rengat Production Sharing Contracts in Sumatra, Indonesia.
BSO Gets Approval to Suspend Work Pogram for Vic/P68 Permit off Australia
Thursday, October 08, 2015 Bass Strait Oil Company receives approval from the National Offshore Petroleum Titles Authority to suspend the work program for Vic/P68 permit in the Gippsland Basin, offshore Australia for a year.



Norwegian Budget Will Result in No Change to Oil, Gas Firms' Tax Burden
Friday, October 09, 2015 Norwegian tax adjustments will result in no change to the overall tax burden on oil and gas companies, according to analysts.
Shell Asks Shippers Exporting Nigerian Oil to Sign Guarantee
Friday, October 09, 2015 Royal Dutch Shell asks shop owners exporting its Nigerian oil to sign a 'letter of comfort' to guarantee it is not stolen, according to a company email.
Lundin Petroleum Sells Indonesian Upstream Assets to Medco for $22M
Friday, October 09, 2015 Lundin Petroleum sells its upstream assets in Indonesia to PT Medco Energi Internasional for $22 million.
Tullow Reaches Onal Agreement with Gabon Government
Thursday, October 08, 2015 Tullow Oil plc reaches an agreement with the Government of Gabon to regain its 7.5% stake in the Onal Complex producing fields and the Ezanga block (formerly the Omoueyi exploration block).
McDermott Bags EPCI Contract for 4 Wellhead Jackets from Qatar Petroleum
Friday, October 09, 2015 McDermott bags a brownfield project from Qatar Petroleum for the engineering, procurement, construction and installation of four wellhead jackets offshore Qatar.
Resource Estimates Point to Significant Find at Lofin Field in Indonesia
Thursday, October 08, 2015 Lion Energy says the contingent resource estimates confirm a significant gas/condensate find in the Seram Non-Bula Production Sharing Contract in eastern Indonesia.


Finance and Investing

Nostrum Withdraws Tethys Takeover Offer, AGR Proposes Share Deal
Wednesday, October 07, 2015 AGR Energy Holdings Limited issues a non-binding letter of intent to acquire $20 million worth of Tethys shares, following the withdrawal of Nostrum Oil & Gas plc's offer to acquire the entire issued share capital of Tethys.
Brazil's Petrobras Cuts Spending Plan for 2nd Time in 3 Months
Tuesday, October 06, 2015 Petrobras, struggling with the biggest debt load among global oil firms, cuts $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump.
Shell CEO Doing All to Safeguard Dividends Amid Low Oil Prices
Tuesday, October 06, 2015 Shell is "puling out all the stops to safeguard" its dividend in a world where oil prices remain "lower for longer," CEO Ben Van Beurden says.
Kazakhstan Says May Cut Oil Taxes To Spur Investment, Lift Output
Tuesday, September 29, 2015 The government in Kazakhstan is considering cutting the mineral extraction tax (MET) for some oil fields to try to reverse falling output, a senior energy official says.
SapuraKencana Posts $28M Net Profit in 2Q FY16, Down 61% from 1Q FY16
Tuesday, September 15, 2015 SapuraKencana Petroleum's revenue rises 22.9 percent gain in the second quarter that ended July 31 to $762 million, but profit after tax falls 61.1 percent to $28 million due to provision for impairment of its oil and gas assets.
China to Lend $12B to Novatek-Led Yamal LNG
Friday, September 11, 2015 Chinese banks are expected to lend $12 billion to the Novatek-led Yamal LNG project, according to Novatek Chief Executive Leonid Mikhelson.


Company Operations

Israel's Delek Buys $66M Stake in North Sea Oil Producer Ithaca
Friday, October 09, 2015 Israeli gas firm Delek Group acquires a near 20-percent stake in North Sea-focused oil producer Ithaca Energy for $66 million.
Saipem Secures Services Contracts worth almost $700M
Friday, October 09, 2015 Saipem secures new offshore engineering and construction contracts worth almost $700 million.
Deepsea Bergen Finishes Yard-Stay
Friday, October 09, 2015 Odfjell Drilling's Deepsea Bergen (mid-water semisub) finishes its yard-stay in connection with a five year special periodic survey and is now in transit to Norway to resume operations.
Petrofac Terminates Construction Vessel Building Deal with China's ZPMC
Friday, October 09, 2015 Petrofac terminates a contract with China's Shanghai Zhenhua Heavy Industry to build the Petrofac JSD 6000 deepwater construction vessel.
Australia's Armour Energy Assesses Revised Takeover Offer from WestSide
Friday, October 09, 2015 Armour Energy is now assessing the revised takeover offer from WestSide Corp. after rejecting a lower bid earlier this week.
Rex Appoints Former Schlumberger Executive Svein Kjellsvik as COO
Friday, October 09, 2015 Singapore-listed Rex International Holdings appoints former Schlumberger executive Svein Kjellsvik as its chief operating officer.



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