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Wednesday, March 04, 2015 - Falling oil price has not only forced petroleum companies to shift their outlook, but also HR firms sourcing personnel for projects and operations, the Australian arm of Hays reveals.
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Industry Headlines

NOC: Libya Declares Force Majeure on 11 Oilfields Due to Insecurity
Thursday, March 05, 2015 Libya has declared force majeure on 11 of its oilfields due to the deteriorating security situation after several oil installations and ports were targeted by attacks, the state-run National Oil Corporation says in a statement on its website.
Competitions Launched to Help Fund Energy Innovators
Wednesday, March 04, 2015 Aberdeen's Technology Showcase sees two competitions launched that offer up to $17 million to energy innovators.
Saudi Arabia Expects Oil Price To Stabilize
Wednesday, March 04, 2015 Saudi Arabia's oil minister says he expects oil prices, which hit a near 6-year low in January, to stabilize, signaling cautious optimism about the market outlook.
US Senate Fails To Override Obama's Veto Of Keystone XL Approval
Wednesday, March 04, 2015 The US Senate fails to override President Obama's veto of legislation approving the Keystone XL oil pipeline.
Hays: Changing LNG Phase Helps Position Australia for Oil Plunge
Wednesday, March 04, 2015 Falling oil price has not only forced petroleum companies to shift their outlook, but also HR firms sourcing personnel for projects and operations, the Australian arm of Hays reveals.
Indonesia Expects 60% Increase in Gas Demand Over Next 5 Years
Wednesday, March 04, 2015 Indonesia will need an additional 1,300 million standard cubic feet per day of gas supplies within 5 years, to meet forecast demand, an energy ministry official says.
Kemp: Lessons For US Oil Production From The Gas Industry
Wednesday, March 04, 2015 The gas industry's experience is especially relevant now given the plunge in oil prices and new drilling since June 2014.
US Oil Rises, Brent Pares Losses On Iran News
Wednesday, March 04, 2015 US oil rises and benchmark Brent pares losses as OPEC member Iran stresses that it opposed a timeline for a freeze on nuclear activities.

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Exploration

WHL Energy Upbeat About Junon Resources Potential offshore Seychelles
Thursday, March 05, 2015 WHL Energy says seismic data indicates that Junon Central and Junon South East in Seychelles may hold prospective resources of around 200 million barrels.
Norwest to Conduct Seismic Survey at Arrowsmith in Perth Basin
Thursday, March 05, 2015 Norwest Energy gains approval to proceed with seismic survey at Arrowsmith in exploration permit EP 413 in the Perth Basin, Western Australia.
Linc Energy Resumes Drilling at Eba 1 Well in PEL 121 in South Australia
Thursday, March 05, 2015 Linc Energy resumes drilling at Eba 1 well in PEL 121 in the Arckaringa Basin in South Australia after delays caused by a leaking wash pipe.
Circle Abandons Shisr-1 Well Due to Drilling Difficulties
Wednesday, March 04, 2015 Circle Oil says it will plug and abandon its Shisr-1 well on Block 49, onshore Oman, due to drilling difficulties.
Beach Energy Finds Gas at Ragnal-1 and Oil at Martlet-1 Wells in Australia
Wednesday, March 04, 2015 Beach Energy discovers gas at Ralgnal-1 well in PRL 130 and oil at Martlet North-1 well in PRL 148 in Australia.
Eneabba Gas Pens Deal for Option to Acquire EP 477 Permit in Perth Basin
Wednesday, March 04, 2015 Eneabba Gas pens agreement for option to acquire 100 percent stake in exploration permit 477 in the Perth Basin, Western Australia.
Forum Energy to Stop Exploration Work at SC 72 Due to Philippine-China Spat
Tuesday, March 03, 2015 The Philippine Department of Energy orders Forum Energy to suspend exploration work at Service Contract 72 as the acreage falls within the area of a territorial dispute between the Philippines and China.
Mosman Finds Further Traces of Oil at Crossroads-1 Well in New Zealand
Tuesday, March 03, 2015 Mosman Oil and Gas finds further evidence of oil at Crossroads-1 well in Petroleum Creek permit in New Zealand.
Pan Orient Energy Abandons Thailand's L53-ANC1 Well as Dry Hole
Tuesday, March 03, 2015 Pan Orient Energy plugs and abandons the onshore L53-ANC1 prospect in Concession L53 in Thailand after disappointing drilling results.

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Production

Madagascar Oil Updates on its Operations, Including Tsimiroro Project
Wednesday, March 04, 2015 Madagascar Oil provides an update of its operations in Madagascar, including the Tsimiroro Development Plan.
Honduras Expects to Join Expanded Mexico-Guatemala Gas Pipeline
Wednesday, March 04, 2015 A gas pipeline between Mexico and Guatemala is likely to be extended to reach Honduras, helping the Central American country to become more competitive with cheaper energy, Honduran President Juan Hernandez says.
McDermott Bags Subsea Fabrication Contract for Indonesia's Jangkrik Project
Wednesday, March 04, 2015 McDermott lands subsea fabrication contract from FMC Technologies for the Eni-operated Jangkrik fields located off Kalimantan, Indonesia.
Exxon Sees Oil, Gas Output Rising Slowly Through 2017
Wednesday, March 04, 2015 ExxonMobil says its oil and gas output would rise 2% this year and 3% in each of the following years as it spends about $34 billion in 2015, down from a peak.
EWC Expects Sengkang LNG Project in Sulawesi to Start-up Later This Year
Tuesday, March 03, 2015 Energy World Corp. expects the Sengkang liquefied natural gas project in South Sulawesi, Indonesia to commence operations before the end of 2015.
Tethys, PetroChina Ink MOU to Explore Kazakhstan's Oil, Gas Sales to China
Tuesday, March 03, 2015 Tethys Petroleum inks memorandum of understanding with PetroChina to explore ways of exporting crude oil and gas from Kazakhstan to China.

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Finance and Investing

Woodside to Issue $1B in Corporate Bonds
Friday, February 27, 2015 Woodside to issue $1 billion in corporate bonds to help fund its capital and exploration expenditure program.
Icahn Posts Loss As Fund Hit In 2014 By Oil Plunge
Friday, February 27, 2015 Billionaire Carl Icahn's publicly traded investment fund posted a loss in 2014, undone by plummeting oil prices, the company says in a regulatory filing.
Oil Hedge Helps Oando Prepay Debt After ConocoPhillips' Deal
Tuesday, March 03, 2015 Oando has prepaid $238 million out of the $753 million it borrowed to part finance the acquisition of ConocoPhillips' Nigerian oil and gas business, the company says.
Vallianz Posts Net Record Profit of $20.4M in 2014, Lifted by OSV Segment
Wednesday, February 25, 2015 Vallianz Holdings' net profit rises to a record $20.4 million in 2014, almost twice the $10.3 million from a year ago, with the gains due mainly to contributions from its offshore support vessel chartering operations in the Middle East.
C. Bank Governor: Low Oil Prices To Hit Investment In Uganda's Oil Sector
Wednesday, February 25, 2015 The sharp drop in oil prices will likely slow down the flow of investment capital tied to Uganda's emerging hydrocarbons industry, and hurt economic growth, the country's central bank governor says.
Transocean Shares Poised For Big Move After Results
Tuesday, February 24, 2015 Transocean shares are expected to move about 8% in either direction following its earnings results.

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Company Operations

Cairn India Cuts FY 2016 Capex to $500M from $1.2B Due to Low Oil Price
Thursday, March 05, 2015 Cairn India reduces capital expenditure for fiscal year 2016 from $1.2 billion to $500 million in the current low oil price environment.
Greatship's Unit Takes Delivery of Jackup Greatship Chaaru from Lamprell
Thursday, March 05, 2015 Greatship Global Energy takes delivery of the jackup Greatdrill Chaaru from Lamprell in the United Arab Emirates.
Aqualis Offshore Wins Brazilian Contract
Wednesday, March 04, 2015 Aqualis Offshore wins a deal with Technip and Techint to carry out marine warranty surveys for the integration of the P-76 FPSO vessel in southern Brazil.
Oil Producer Afren Defaults on 2016 Bonds
Wednesday, March 04, 2015 Africa-focused oil producer Afren defaults on its 2016 bonds after declining to make a $15-million interest payment.
Motive Offshore Restructures to Expand Global Reach, Create Jobs
Wednesday, March 04, 2015 Motive Offshore restructures to enhance its local and global operations as well as continue its rapid growth, which includes creation of new jobs.
Subsea 7 Axes Dividend, Sees Lower 2015 Earnings
Wednesday, March 04, 2015 Oilfield services firm Subsea 7 swings to a surprise fourth-quarter operating loss due to a decline in sales and profit margins in difficult market conditions.
Cairn India Slashes 2015-16 Capex on Falling Crude
Wednesday, March 04, 2015 Cairn India cuts capital spending by about 60 percent as falling oil prices hurt profitability and make project expansions unviable.
Lukoil May Quit Most West African Projects As No Large Discoveries Made
Wednesday, March 04, 2015 Russia's Lukoil may leave almost all of its projects in West Africa as it has made no large discoveries there, according to Interfax.
Wintershall Completes Takeover of Vega Field in the North Sea
Wednesday, March 04, 2015 Germany's Wintershall completes the takeover from Statoil of the operatorship of the Vega subsea oil and gas field offshore Norway.
Valmec Secures Services Deal for APLNG Project's Talinga Gas Facility
Wednesday, March 04, 2015 Valmec secures a services contract for Australia Pacific LNG project's Talinga Gas Processing Facility in Queensland, Australia.
Ferguson Partners OPS-OES to Tap Business in Thailand's Oil, Gas Sector
Wednesday, March 04, 2015 Ferguson Group appoints OPS Oilfield Equipment and Services as its business partner in Thailand.

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