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Industry Headlines

SBM Offshore Says US Authorities Re-Open Corruption Probe
Wednesday, February 10, 2016 SBM Offshore says that US authorities had re-opened an inquiry into bribery allegations involving the Dutch company.
BP: US Shale Oil Output To Double By 2035
Wednesday, February 10, 2016 US shale oil production will double over the next 20 years as drillers that became more efficient amid a slump in oil prices unlock new resources, BP says.
European Energy Firms Post Billion Dollar Losses in 2015
Wednesday, February 10, 2016 Tullow Oil and Maersk Oil register billion dollar losses in 2015, amid an ever-declining low oil price.
OPEC Points To Larger Oil Surplus In 2016, Says Low Prices Hurting Economy
Wednesday, February 10, 2016 OPEC points to a larger oil supply surplus on the world market this year than previously thought as Saudi Arabia and other members pump more oil.
Oil Minister: Foreign Oil Companies To Settle Iran's Debt In Euros
Wednesday, February 10, 2016 Iran's oil minister said foreign oil companies that owe his country billions of dollars are likely to settle their debts in euros.
Genel to Resume Oil Drilling in Iraqi Kurdistan
Tuesday, February 09, 2016 Genel Energy, one of a handful of foreign oil producers in Iraqi Kurdistan, to resume drilling at its Taq Taq oilfield in the coming weeks.
C&J Energy Services Plans to Lay Off 78 Workers
Tuesday, February 09, 2016 C&J Energy Services plans to lay off dozens of employees at its Pleasanton facility.
Oil Drillers Exposed in Three-Way Hedges as Crude Dips Below $30
Tuesday, February 09, 2016 Oil at $30 a barrel is blowing a hole in the insurance that US shale drillers bought to protect themselves against a crash.

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Exploration

Magseis, BGP Awarded Red Sea Seismic Survey Project
Wednesday, February 10, 2016 Magseis and BGP have been awarded Saudi Aramco's S78 project for large-scale ocean-bottom seismic acquisition in the Red Sea.
Mandala Acquires 2 Exploration Blocks in Sumatra, Adds to its Lemang Stake
Wednesday, February 10, 2016 Mandala Energy signs agreement to acquire two exploration blocks in Sumatra, Indonesia from Australia's Cooper Energy.
FIRB Clears AEGP to Farm-in to Empire Energy's NT Petroleum Tenements
Wednesday, February 10, 2016 Australia's Foreign Investment Review Board gives its clearance for AEGP, an affiliate of American Energy Partners, to farm-in to Empire Energy Group's Northern Territory petroleum tenements.
WA DMP Approves Pilot Energy's Farm-in to 2 Perth Basin Exploration Permits
Wednesday, February 10, 2016 The Western Australian Department of Mines & Petroleum approves Pilot Energy's farm-in to exploration permits EP416 and EP480 in Perth Basin.
MEO Australia Commences Prospectivity Assessment of Cuba's Block 9
Tuesday, February 09, 2016 After receiving a "considerable" quantity of historical technical data, MEO Australia commences an assessment of the prospectivity of Cuba's Block 9.
Qatar Petroleum to Acquire Part of Chevron's Moroccan Assets
Monday, February 08, 2016 Qatar Petroleum reaches an agreement with Chevron Morocco Exploration to acquire a 30% participating interest from Chevron's 75% share in three deepwater offshore leases located in Morocco.

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Production

New Generation of Microchips to Reduce Production Costs
Wednesday, February 10, 2016 Researchers at Rice University develop new generation of microchips that can allow producers to reduce production costs.
Russia's Sechin Floats Idea of Oil Output Cuts
Wednesday, February 10, 2016 Rosneft floats the idea of a coordinated output cut by major oil-producing countries to prop up sagging prices.
Nobel Upstream to Acquire 7.59% Stake in North Sea Maclure Field
Wednesday, February 10, 2016 Nobel Upstream signs an agreement to acquire a 7.59% non-operated interest in the Maclure oil and gas field from Shell.
Sound Energy Confirms Clean-Up Operations at Nervesa
Tuesday, February 09, 2016 Sound Energy confirms that clean-up operations are continuing at its onshore Nervesa gas discovery after first gas was achieved earlier this month.
Extended Flow Test Commences Over Horse Hill-1
Monday, February 08, 2016 Horse Hill Developments Limited commences operations to conduct a planned extended flow test over 3 separate zones in the Horse Hill-1 oil discovery well.
Total Brings Laggan-Tormore Onstream
Monday, February 08, 2016 Total starts production from the Laggan and Tormore gas and condensate fields, which are located in the West of Shetland area.
Petsec Energy Acquires 100% Stake in Damis Production License
Friday, February 05, 2016 Petsec Energy Ltd acquires a 100% participating interest in, and operatorship of, the Damis Production License in the Republic of Yemen's Block S-1.

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Finance and Investing

IMF Says Ready to Lend to African Oil Producers; No Requests Yet
Tuesday, February 02, 2016 The International Monetary Fund says it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding requests from the region.
Ecopetrol Dividend Policy Seeks to Prevent Slide Into Junk
Tuesday, February 02, 2016 Colombia?s state-controlled Ecopetrol SA will pursue a dividend policy this year designed to safeguard the company?s investment grade rating amid the slump in oil prices.
Oil Industry's Plan to Keep Investors Happy: Borrow More Money
Tuesday, February 02, 2016 The world?s largest oil companies have a plan to weather the worst market in over a decade: borrow more money.
Anadarko Says It May Cut Dividend Due to High Yield
Tuesday, February 02, 2016 Oil producer Anadarko Petroleum Corp may cut its dividend because its falling share price amid the oil price plunge has pushed the yield too high.
Russian Oligarchs Most Likely Buyers in Putin's New Privatisation Plan
Tuesday, February 02, 2016 Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell.
Texas Shale Drillers Lure $2 Billion in New Equity to Permian
Tuesday, February 02, 2016 Oil producers in West Texas, defying expectations they would fall victim to OPEC?s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.

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Company Operations

Pink Petro Launches HERWorld, a Global Energy Forum
Wednesday, February 10, 2016 Pink Petro lines up experts to examine issues including the price of oil, harnessing technology, shaping policy, managing talent development and the gender gap during the downturn.
Voestalpine Reports Lower Than Expected 3Q EBIT
Wednesday, February 10, 2016 Voestalpine reports a higher than expected fall in its 3Q operating profit due to the effects of the sharp price falls and overcapacity in the oil and gas sector.
Seanamic Group Expands Umbilicals Business
Wednesday, February 10, 2016 Seanamic Group expands umbilical business with a new Umbilical International facility in Glasgow.
Exor to buy Welltec Stake for $116M
Wednesday, February 10, 2016 Italy's Exor will buy a 13% stake in energy industry equipment maker Welltec for 103.3 million euros ($116 million).
Aker to Deliver Johan Sverdrup Concept Study
Wednesday, February 10, 2016 Aker Solutions will work on a concept study for a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field.
Husky Energy Cuts More Jobs As Crude Oil Slump Exceeds 19 Months
Wednesday, February 10, 2016 Husky Energy Inc., the oil and natural gas producer controlled by Hong Kong billionaire Li Ka-Shing, has made another round of jobs cuts with the crude market slump exceeding 19 months.
RCP Clinches Well Control Equipment Deal from Singapore Client for New Rigs
Wednesday, February 10, 2016 RCP clinches contract from a Singapore-based client to supply and install well control equipment for newbuild rigs.
Australia's Bhagwan Marine Acquires Perth-based Delta Subsea
Wednesday, February 10, 2016 Australia's Bhagwan Marine acquires Perth-based subsea engineering consulting firm Delta Subsea.

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