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Industry Headlines

Eni: Oil Worker Dies Following Congo Platform Fire
Friday, December 02, 2016 An oil and gas worker dies after a fire occurred on the Foukanda platform, located offshore the Republic of Congo, Italian energy firm Eni said Friday.
Survey: CEOs See Competitive Advantage in Technology, Not People
Friday, December 02, 2016 In a recent survey, CEOs said that technology, not people, would offer the greatest competitive advantage in the future.
Jobs Report: US Mining Employment Unchanged in Nov.
Friday, December 02, 2016 Data from the Bureau of Labor Statistics finds that employment in oil and gas extraction remains relatively unchanged in November.
Analysts: OPEC Deal will see Brent Hit $72
Friday, December 02, 2016 The price of Brent crude oil will hit $58 per barrel in 2017 and $72 per barrel in 2018, according to forecasts from oil and gas analysts at investment bank Jefferies.
Argentine Oil And Gas Workers To Strike Over YPF Layoffs
Friday, December 02, 2016 Some 23,000 Argentine oil and gas workers will go on a 48-hour strike beginning Monday to protest YPF's decision to lay off workers.
Azerbaijan's $35B Oil Fund Pledges To Improve Transparency
Friday, December 02, 2016 SOFAZ is committed to keep improving transparency, its executive director said, in order to meet a key international benchmark that would make the country more attractive to foreign investors.
Decommission Spending May Skyrocket 540% to $210 Billion
Friday, December 02, 2016 With more than 600 projects expected during the next five years, decommissioning in the global offshore industry is heading for a perfect storm, says study author.
Oil Rallies To Best Week In Years After OPEC Output Deal
Friday, December 02, 2016 Oil prices rallied for their best week in at least five years, steadying above $51 a barrel.

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Exploration

Egypt Accepts Six Bids For Oil And Gas Exploration
Friday, December 02, 2016 Egypt has accepted 6 bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday.
Zion Granted Approval to Drill Well Onshore Israel
Friday, December 02, 2016 Zion Oil & Gas has been granted approval by the State of Israel's petroleum commissioner to drill an oil well in Israel, within its 99,000 acre license.
CGG: Final Gabon South Basin Data Sets Now Available
Thursday, December 01, 2016 French geophysical services company CGG announced Thursday that the final data sets from its recent 3D survey in the Gabon South Basin are now available.
FAR Refutes Claims that it cannot Farm Into Djiffere Block
Thursday, December 01, 2016 FAR Limited refutes claims that it cannot exercise its option to farm into the Djiffere block offshore Senegal because of a lack of funds.
Oil Firms Unlikely To Boost Norway Exploration In 2017
Wednesday, November 30, 2016 Oil companies operating on Norway's continental shelf are unlikely to increase their overall exploration activity in 2017, a key regulator of the industry said on Wednesday.
Sound Energy Secures Drilling Rig for Badile Well
Tuesday, November 29, 2016 Independent energy company, Sound Energy, has signed a contract securing a drilling rig for its Badile exploration well in Italy.

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Production

OPEC To Meet Non-OPEC Producers On Dec. 10 In Moscow
Friday, December 02, 2016 OPEC will meet non-OPEC countries to finalise a global oil limiting pact on Dec. 10 in the Russian capital Moscow, two OPEC sources told Reuters on Friday.
Production Drilling Begins at Mariner Field in UK North Sea
Friday, December 02, 2016 Production drilling has started on the Mariner field in the UK North Sea, Statoil announced Friday.
Ahead Of Promised Cut, Russia's Oil Output Hits Record High
Friday, December 02, 2016 Russia plans to use its rercent oil production as its baseline when it cuts output under this week's deal with OPEC,Deputy Energy Minister Kirill Molodtsov says.
Louisiana LNG Export Project Clears DOE Hurdle
Thursday, December 01, 2016 The DOE grants authorization for a proposed LNG terminal in Lake Charles, La., to export LNG to countries with which the United States has not entered into a free trade agreement (non-FTA approval).
Russia Says To Cut Oil Output From Nov-Dec Levels
Thursday, December 01, 2016 Russia will cut its oil output from November-December levels, Energy Minister Alexander Novak told reporters on Thursday.
Azerbaijan Energy Minister: No Plan To Increase Oil Output In 2017
Thursday, December 01, 2016 Azerbaijan has no intention of increasing crude oil output in 2017, Energy Minister Natig Aliyev said on Thursday.

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Finance and Investing

Private Equity Funds, Former Oil Execs Eye Southeast Asia Energy Assets
Friday, December 02, 2016 Flush with cash, private equity-backed firms and former oil industry executives are eyeing energy assets in Southeast Asia.
Gazprom In Talks With Japanese Banks About Raising $850M
Friday, December 02, 2016 Russian gas giant Gazprom is working on a deal under which Japanese banks would provide it with financing worth 800 million euros ($851.28 million), two sources familiar with the discussions told Reuters.
Russia's Lukoil Says Q3 Net Profit Down 12.5% Q-on-Q
Tuesday, November 29, 2016 Russia's No.2 oil producer Lukoil says its 3Q net profit fell 12.5% quarter-on-quarter, while its free cash flow jumped 83.4 percent to 104.5 billion roubles ($1.6 billion).
Eni Aims to Cut Stake in Zohr Field to 50 pct, Could Happen Quickly
Monday, November 28, 2016 Italian energy group Eni plans to reduce its stake in the giant Zohr gas field offshore Egypt to 50 percent, Chief Executive Claudio Descalzi said.
Silverback Exploration To Sell Oil And Gas Assets For $855M
Monday, November 28, 2016 Privately held Silverback Exploration LLC will sell oil and gas assets for $855 million to Centennial Resource Development Inc, which is backed by energy private equity fund Riverstone Holdings LLC.
Israeli Leviathan Partners Get Up To $1.75B HSBC, JPMorgan Financing
Sunday, November 27, 2016 The main Israeli partners developing the large Leviathan natural gas site said on Sunday they signed commitment letters with HSBC and J.P. Morgan for up to $1.75 billion of financing.

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Company Operations

Subsea 7 Secures Services Contract with Woodside Energy
Friday, December 02, 2016 Oilfield services company Subsea 7 S.A. secures a sizeable contract with Woodside Energy Ltd for the Greater Western Flank Phase 2 Project, offshore Australia.
Baker Hughes: US Oil Drilling Rig Count Recovery Extends Into 7th Month
Friday, December 02, 2016 US energy companies extended their recovery in oil drilling into a seventh month this week as they follow through on plans to add rigs as crude rose to its highest price in over a year.
Samsung Heavy Says $776.8M Order For LNG Facility Cancelled
Friday, December 02, 2016 Samsung Heavy Industries Co Ltd says a $776.8 million order for a substructure for a liquefied natural gas (LNG) floating production, storage and offloading (FPSO) unit has been cancelled.
CLNR 'Significantly' Increases Resources at License P2252
Thursday, December 01, 2016 CLNR announces a significant increase in P50 Prospective Resources on its 100% owned License P2252, from 162 billion cubic feet to 636 Bcf.
Rolls-Royce To Cut Another 800 Jobs At Marine Unit
Thursday, December 01, 2016 British engineering company Rolls-Royce said it would cut a further 800 jobs in its marine business.
Centrica Sells Trinidad And Tobago Gas Assets To Shell
Wednesday, November 30, 2016 British utility Centrica said on Wednesday it has agreed to sell its gas assets in Trindad and Tobago for $30 million to Royal Dutch Shell.
Aker BP Awards 5-Year Services Contract to DNV GL
Wednesday, November 30, 2016 Aker BP awards a new frame agreement to DNV GL covering a range of safety, verification, inspection and classification services across its installations on the Norwegian Continental Shelf.

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Policy

Chancellor Pledges to Deliver on Oil, Gas Tax Commitments set out in March
Wednesday, November 23, 2016 UK Chancellor of the Exchequer Philip Hammond pledges to stick to the oil and gas industry tax cuts announced by his predecessor George Osborne in March.
Texas Bill Would Give Super Majority Rights to Drill Old Wells
Monday, November 21, 2016 Current Texas law requires 100% of both working and royalty interest owners to sign off on enhanced well development, giving it the highest threshold of any oil-producing state.
Obama Said to Block Selling New Drilling Rights in U.S. Arctic
Thursday, November 17, 2016 The Obama administration is set to block the sale of new oil and gas drilling rights in U.S. Arctic waters under a five-year blueprint, handing a victory to environmentalists who said the activity threatened whales, walruses and other local wildlife.
Sarah Palin For Energy Chief? Trump Considers Cabinet Nominees
Tuesday, November 15, 2016 Oil and gas executives and Beltway insiders among the top names to be circulated to run US President-elect Donald Trump's America-first agenda.
BLOG: Former Texas Gov. Rick Perry a Contender for Trump's Cabinet
Thursday, November 17, 2016 Twice a candidate in the Republican presidential primary, Rick Perry is reportedly on a short list of names to lead the Energy Department for President-elect Donald Trump.
Source: Trump Looking at Fast Ways to Quit Global Climate Deal
Sunday, November 13, 2016 President-elect Donald Trump is seeking quick ways to withdraw the U.S. from the global agreement to combat climate change that was signed in Paris in 2015.

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