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Wednesday, July 23, 2014 - HM Treasury announces a consultation on a new "cluster area allowance" to encourage investment in ultra-high pressure, high temperature oil and gas fields.
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Industry Headlines

Study: Oil, Gas Industry Seeking to Protect Greater Sage-Grouse
Thursday, July 24, 2014 Oil and gas companies are implementing an average of over six conservation measures per project to protect the Greater Sage-Grouse bird on public lands, a study finds.
Strike Cuts Oil, Gas Output In Argentina's Neuquen Province
Thursday, July 24, 2014 YPF says a labor strike in Neuquen will cut output by 80,000 barrels of crude oil and 3 million cubic meters of natural gas.
EU Says Could Halt Technology for Russia to Develop Arctic Oil, Gas
Wednesday, July 23, 2014 EU should not give Russia technical help to develop Arctic oil and gas if Moscow does not help defuse the Ukraine crisis, says EU Energy Commissioner Guenther Oettinger.
Ukraine Says EU Reverse Gas Flows Lower after Gazprom's 'Threats'
Wednesday, July 23, 2014 Ukraine energy minister says reverse gas flows from the European Union to Ukraine fall because of the threats by Russian gas producer Gazprom.
UK Proposes New Tax Allowance for Ultra HP/HT Fields
Wednesday, July 23, 2014 HM Treasury announces a consultation on a new "cluster area allowance" to encourage investment in ultra-high pressure, high temperature oil and gas fields.
US Proposes New Rules For Moving Crude Oil By Rail
Wednesday, July 23, 2014 The US Department of Transportation proposes an overhaul of safety standards for transporting crude oil and ethanol by rail.
North Sea Super Puma Crash: Lessons Learned
Wednesday, July 23, 2014 Eleven months on from the Super Puma crash in the North Sea that killed 4 offshore workers, steps have been taken that should save lives in the event of a future helicopter ditching.
Crude Oil Rises On Drop In US Crude Inventories, Geopolitical Risk
Wednesday, July 23, 2014 Crude oil futures rise as oil stockpiles in the US fall more than expected and geopolitical tensions in Eastern Europe and the Middle East persist.

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Exploration

Northern Petroleum Awarded Two Permits in Italy
Thursday, July 24, 2014 Northern Petroleum is awarded two permits, one onshore and one offshore, in Italy.
Norwegian Seismic Survey Firms See Mixed Picture
Thursday, July 24, 2014 Petroleum Geo-Services reports a decline in second-quarter revenues and profits, while fellow Norwegian firm announces two new sampling contracts.
OMV Spuds Whio-1 Exploration Well in PEP 51313 Offshore Taranaki
Thursday, July 24, 2014 OMV spuds Whio-1 exploration well in permit PEP 51313 in the Taranaki Basin off New Zealand.
Baraka Resolves Dispute Over 2 Exploration Permits in Georgina Basin in NT
Thursday, July 24, 2014 Baraka Energy & Resources resolves dispute with partners over two exploration permits in Georgina Basin, Northern Territory, Australia.
Metgasco Updates on Legal Action to Lift Suspension of Rosella-1 Drilling
Thursday, July 24, 2014 Metgasco updates on its Supreme Court action to lift the state government' suspension of its approval to drill the Rosella exploration well in PEL 16 in northern New South Wales, Australia.
PetroFrontier Updates on Exploration Activities in Northern Territory
Wednesday, July 23, 2014 PetroFrontier updates on exploration activities under the 2014 work program and budget in Northern Territory, Australia.

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Production

Slovakia Says Work on Gas Link to Ukraine on Schedule
Thursday, July 24, 2014 Construction work on a pipeline to allow gas to be sent from Western Europe to Ukraine is on schedule, according to Slovak pipeline operator Eustream.
Strike Paralyzes Oil, Gas Output in Neuquen
Thursday, July 24, 2014 An oil workers' strike paralyzes oil and gas production in the Argentine province of Neuquen.
OPSB Secures Financing to Develop the Ophir Oil Project Offshore Terengganu
Thursday, July 24, 2014 Octanex annouces that the joint venture developing the Ophir field offshore Terengganu, Malaysia has secured financing for the project.
Ruspetro Conducts Successful Flow Test on Russian Well
Wednesday, July 23, 2014 Ruspetro successfully carries out a 10-day flow test on its first multi-stage fractured horizontal well in the Pottymsko-Inginsky license area of Russia.
First Oil Commences at Bentara Field Offshore Sarawak
Wednesday, July 23, 2014 Petronas announces first oil commences at the Bentara field offshore Sarawak, Malaysia.
CNOOC Commences Trial Production at LS36-1 Gas Field Offshore China
Wednesday, July 23, 2014 CNOOC commences trial production at LS36-1 gas field offshore Zhejiang province, China.

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Finance and Investing

Sources: Reach Energy Locks in Cornerstones for IPO
Thursday, July 24, 2014 Malaysia's Reach Energy, a special purpose acquisition company with no existing assets, locked in up to seven cornerstones for its $236.93 million IPO, two sources involved with the deal say.
Schlumberger Second-Quarter Profit Falls 24%
Thursday, July 17, 2014 Schlumberger, the world's largest oilfield services company, reports a nearly 24% fall in quarterly profit.
Far East Energy Corp.'s Bridge Facility with SCB Extended for 2 Months
Monday, July 14, 2014 Far East Energy Corp., operator of the Shouyang coalbed methane production sharing contract in China's Shanxi province, receives a further extension of the maturity date of an existing bridge facility with Standard Chartered Bank.
Triyards' 9-Month Net Profit Increases 1% to $21.4M
Friday, July 11, 2014 Triyards Holdings posts a net profit of $21.4 million for the 9 months ending May 31, a marginal 1 percent rise from a year ago.
WestSide Recommends Shareholders Accept Landbridge's Takeover Offer
Friday, July 04, 2014 Australia's WestSide recommends that company's shareholders accept Landbridge's takeover offer.
South Sudan To Borrow About $1B From Oil Firms In 2014/15
Wednesday, July 02, 2014 South Sudan plans to borrow from oil companies during the coming financial year to help cover repayments on domestic loans and previous oil advances.

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Company Operations

Repsol Profit Tops Forecasts On Surprise Refining Strength
Thursday, July 24, 2014 Repsol beats quarterly profit forecasts as a surprise surge in refining margins helps cushion production declines due to shutdowns in Libya.
Serbian Oil Company NIS 1H Profits Fall
Thursday, July 24, 2014 Serbia's NIS reports a five-percent fall in first-half profit and will have to cut spending on projects in the second half.
Noble Energy's Profit Beats As Output From US Fields Rises
Thursday, July 24, 2014 Noble Energy reports better-than-expected profit for 2Q thanks to a rise in production from wells in the Marcellus shale and the Denver-Julesburg basin.
BW Offshore Takes 100% Ownership of Petroleo Nautipa FPSO
Thursday, July 24, 2014 BW Offshore pays almost $60 million to take complete ownership of the Petroleo Nautipa FPSO vessel.
Nakilat-Keppel O&M Bags $110M Contracts from Gulf Drilling International
Thursday, July 24, 2014 Gulf Drilling International awards $110 million contracts to Nakilat-Keppel Offshore & Marine to build a liftboat and to repair and maintain its fleet of jackups.
Cosco Nantong Delivers Jackup Kai Xuan Yi Hao to Asian Buyer
Thursday, July 24, 2014 Cosco Nantong delivers newbuild jackup Kai Xuan Yi Hao to its Asian buyer.
Ezion Sells Two Australian Subsidiaries to AusGroup for $44M
Thursday, July 24, 2014 Ezion Holdings inks agreement to sell its two Australian subsidiaries to AusGroup for $44 million.

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