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Industry Headlines

GLA is 'Single Accumulation', Largest Undeveloped UKCS Find
Monday, March 27, 2017 Hurricane Energy plc believes the Greater Lancaster Area is a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf.
Unite Calls for Safety Transparency After Worker Radiation Exposure Claims
Monday, March 27, 2017 Unite calls for 'openness and transparency' on safety incidents offshore, after a group of workers were reported to have been exposed to radiation on the Thistle platform.
Statoil Exec: Effective Leaders Should Empower People and Machines
Friday, March 24, 2017 Statoil's Jim Claunch shares his insight and advice on what will make effective oil and gas leaders during a time of rapidly advancing technology.
December North Dakota Crude Spill Larger Than Initially Estimated
Friday, March 24, 2017 A crude oil spill in western North Dakota in December is now believed to be about three times bigger than originally estimated, pipeline owner True Companies says.
America's Nuclear Sector Braces for More Closures
Friday, March 24, 2017 S&P Global Ratings' Michael Ferguson outlines the reasons behind nuclear's decline and the industry's likely direction.
UK's Lamprell Sees Tough Year Ahead, Recovery Only In 2018
Friday, March 24, 2017 Oil rig builder Lamprell Plc lowers its revenue forecast for this year and says it expects to start seeing a recovery in activity only in 2018.
Industry Pros Gather for Offshore Achievement Awards
Friday, March 24, 2017 Almost 500 industry professionals gather in Scotland to celebrate innovation, collaboration and performance in the UK offshore energy sector at the SPE Aberdeen Offshore Achievement Awards.
Shell to Sell Gabon Onshore Assets for $587MM, 430 Staff to be Transferred
Friday, March 24, 2017 Royal Dutch Shell plc reaches an agreement with Assala Energy Holdings Ltd. to sell 100% of its Gabon onshore interests for $587 million.
Don't Make People Feel Stupid. Drop the Jargon!
Friday, March 24, 2017 Industry jargon and three-letter acronyms have their place, but they can also prevent you from selling a message effectively to others.
Oil Rises In Late Trade, Still Down On The Week As Glut Weighs
Friday, March 24, 2017 Oil rose modestly in a spate of late-day activity, but fell on the week as concerns persisted over an excess of crude.

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Exploration

BP Makes Third Gas Discovery In Egypt's North Damietta Concession
Sunday, March 26, 2017 BP has made a gas discovery in the North Damietta Offshore Concession in Egypt's East Nile Delta, its third in the block.
Statoil Makes North Sea Oil, Gas Discovery
Friday, March 24, 2017 Statoil Petroleum AS makes an oil and gas discovery in the North Sea through well 34/10-55 S, the Norwegian petroleum Directorate reveals.
OGA Awards 25 Licences for 111 UKCS Blocks in 29th Offshore LA
Thursday, March 23, 2017 The Oil and Gas Authority (OGA) awards 25 licenses for 111 blocks, or part blocks, to 17 companies in the 29th Offshore Licensing Award.
Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce
Wednesday, March 22, 2017 Top bidders included Shell Offshore, Statoil, Chevron and Hess, each offering more than $44 million for access to offshore exploration and production, according to federal records.
Britain's Igas Wins Approval For Shale Gas Exploration
Wednesday, March 22, 2017 Britain's IGas has won planning consent from Nottinghamshire County Council to develop a shale gas well site and drill an exploratory well at Tinker Lane.
New Zealand Opens Block Offer Tender for Exploration Permits
Wednesday, March 22, 2017 New Zealand Energy and Resources Minister Judith Collins opens the Block Offer 2017 tender for petroleum exploration permits.
EU Lawmakers Reject Call For Ban On Arctic Oil Exploration
Thursday, March 16, 2017 The European Parliament rejected a call to ban Arctic oil and gas exploration.

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Production

Saudi Retains Top Oil Supplier To China Despite YOY Drop
Thursday, March 23, 2017 Saudi Arabia maintains its spot as China's top oil supplier in February, 2 months into the first OPEC output cuts in almost a decade.
NOC: Libyan Oil Output Rises To 700,000 Bpd After Port Fighting Ends
Wednesday, March 22, 2017 Libya's oil production has reached 700,000 barrels per day, the National Oil Corporation (NOC) says.
India's Feb Oil Output Falls 3.4% YoY
Wednesday, March 22, 2017 India's oil output in February fell 3.4% to about 2.80 million tons year-over-year.
Beset By Delays, Myanmar-China Oil Pipeline Nears Start-Up
Tuesday, March 21, 2017 Nearly a decade in the making, a project to pump oil 480 miles across Myanmar to southwest China is set for imminent start-up.
Shell To Drill New Wells By End-2018 To Shore Up Australia Gas Supply
Tuesday, March 21, 2017 Royal Dutch Shell will drill 161 new gas wells at its Queensland operations by the end of 2018.
TransCanada Seeks Pipe Approval Linked To Petronas LNG Terminal
Monday, March 20, 2017 Transcanada has secured shippers' commitment for a pipeline associated with Petronas' pending Pacific NorthWest liquefied natural gas terminal in western Canada

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Finance and Investing

QIA Chief Says He's 'Absolutely' Confident In Rosneft Investment
Monday, March 27, 2017 Qatar is 'absolutely' confident in its investment in majority state-owned Russian oil company Rosneft, the head of Qatar's sovereign wealth fund says.
Aberdeen City Council Lifts Finance Barrier for SMEs, Will Help Create Jobs
Monday, March 27, 2017 Aberdeen City Council joins Business Loans Scotland to help lift the finance barrier for small and medium enterprises.
Halliburton Warns Of First-Quarter Profit Miss As Costs Rise
Friday, March 24, 2017 Halliburton warns that its first-quarter profit would likely miss analysts' expectations.
Union Leader: Argentina's Tecpetrol To Invest $2.3B In Vaca Muerta
Thursday, March 23, 2017 Tecpetrol will invest $2.3 billion in the Vaca Muerta shale fields through 2019, Guillermo Pereyra, a union leader and senator says.
China's CNOOC Reports Worst Result Since 2011, Forecasts Output Rise
Thursday, March 23, 2017 China's offshore oil and gas producer CNOOC Ltd reports its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17% last year.
Maersk Reaches Key North Sea Tax Deal With Denmark
Wednesday, March 22, 2017 A.P. Moller-Maersk reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025.
Petrobras Raises Asset Sale Goal To $21B For 2017-2018 Period
Wednesday, March 22, 2017 Petrobras raises a goal for asset divestitures and partnerships for 2017 and 2018 to $21 billion from $19.5 billion.
Enquest Reports Small Rise In Annual Profit Despite Weak Oil Price
Tuesday, March 21, 2017 North Sea-focused oil producer EnQuest reports a small rise in annual core earnings, despite weak oil prices, as it brings down costs and raises production.

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Company Operations

Software Developer Mltech Completes First Training Contract in Shetland
Monday, March 27, 2017 Specialist software developer, mltech, completes its first training contract in Shetland for engineering company Ocean Kinetics.
Poland Considers Building Floating LNG Terminal By 2021
Monday, March 27, 2017 Poland is considering building a second liquefied natural gas(LNG) terminal on the Baltic Sea by 2021.
Iran's Rouhani Signals Expansion In Energy Cooperation With Russia
Monday, March 27, 2017 Iranian President Hassan Rouhani says Tehran welcomes Russian investment in its gas and oil fields, signalling major developments in energy cooperation between the 2 countries.
Native Americans To Meet Norway's Wealth Fund Watchdog Over Pipeline
Monday, March 27, 2017 Standing Rock Sioux tribe representatives will meet the ethics watchdog for Norway's $915 billion sovereign wealth fund over a U.S. oil pipeline.
Russian Private Oil Companies Swing Behind Output Cuts
Friday, March 24, 2017 Russia's private oil producers are ditching their scepticism and lining up behind an extension of a global deal to cut output after previous oil price increases compensated for lost income.
First Oil For Long-Awaited Myanmar Pipeline To China Delayed Again
Friday, March 24, 2017 A long-awaited pipeline that would allow overseas oil to be pumped through Myanmar and into China for the first time has been delayed again.
Serbian Oil Firm NIS Appoints New Chief After Run Of Weak Profits
Friday, March 24, 2017 Serbian oil firm NIS, majority owned by Russia's Gazprom Neft, has appointed its new top executive.
Top Asian LNG Buyers Form Alliance To Push For Flexible Contracts
Thursday, March 23, 2017 3 of Asia's top buyers of liquefied natural gas (LNG) agree to work together to secure more flexible contracts when buying the commodity.
Algeria's Sonatrach to Invest $50 Billion, Boost Oil Output
Thursday, March 23, 2017 Sonatrach Group plans to boost crude output by 14% in the four years to 2019 and invest billions of dollars in exploration.
CNPC Sees Fourth Leg Of Shaanxi-Beijing Pipeline Operational In October
Thursday, March 23, 2017 China National Petroleum Corp expects the fourth leg of the Shaanxi to Beijing pipeline to be operational in October.

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Policy

Trump's Keystone XL Approval Moves Pipeline Fight to Individual States
Friday, March 24, 2017 TransCanada gets its presidential permit to move forward with building its Keystone XL crude oil pipeline, but the battle to flow crude through several states isn't over, analysts say.
Trump Said to Pick an Attorney to Lead Federal Energy Agency
Thursday, March 09, 2017 President Donald Trump plans to nominate Jones Day attorney Kevin McIntyre as chairman of the Federal Energy Regulatory Commission.
Funds Expect Saudi Aramco To Be Valued Around $1-1.5 Trillion
Monday, March 06, 2017 Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalisation of $1 trillion to $1.5 trillion when it sells shares to the public next year.
US Senate Confirms Trump Pick Perry As Energy Secretary
Thursday, March 02, 2017 The US Senate votes to confirm President Donald Trump's pick to head the Department of Energy.
Trump Orders Review Of Obama Waterway Regulation
Tuesday, February 28, 2017 US President Donald Trump signed an order directing regulators to review an Obama administration rule.
OPEC Sec-Gen: All Participating Countries Committed to Oil Output Deal
Monday, February 27, 2017 OPEC-led oil production cuts have been well supported by all participating countries despite some teething troubles for non-OPEC members, the cartel's secretary-general, Mohammed Barkindo, says.

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