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Friday, November 21, 2014 - Norway's Statoil is halting exploration in Angola after poor drilling results, retreating from an offshore area it had high hopes for and capping a poor year for exploration.
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Industry Headlines

BSEE, Fieldwood Investigating Explosion from Maintenance on Echo Platform
Friday, November 21, 2014 An investigation is underway into a maintenance incident that killed one worker and injured three on a Gulf of Mexico platform.
Pennsylvania Benefits from Oil, Gas Extraction in the State
Friday, November 21, 2014 Oil and gas drilling in Pennsylvania is creating thousands of new jobs and providing funds to the state for infrastructure improvements.
OPEC Panel Reviews Oil Outlook in a Start to Talks on Oversupply
Friday, November 21, 2014 A panel of national representatives review OPEC's oil market outlook for 2015, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.
Brazil's Rousseff Struggling to Limit Petrobras Scandal's Damage
Friday, November 21, 2014 President Dilma Rousseff expects a bribery scandal at state-run oil company Petrobras to deteriorate in coming months, aides say, with arrests possible for some political allies and potentially serious damage to an economy that is already struggling.
Russia's Lukoil to Invest in Nigerian Project with Chevron
Friday, November 21, 2014 Russia's second-largest oil company, privately controlled Lukoil, plans to invest in Nigeria with U.S. oil major Chevron Corp., part of its push to seek opportunities away from Russia's state-dominated oil sector.
Energy Minister: Russia Mulls Oil Output Cut, No Decision Yet
Friday, November 21, 2014 Russia may cut oil production to shore up flagging prices, but its ability to change output is limited and no decision has been made yet, its energy minister said, underlining Moscow's desire for a higher oil price.
Report: Bird Needs 3-Mile Buffer From Drilling
Friday, November 21, 2014 A government study with significant implications for the U.S. energy industry says the breeding grounds of a struggling bird species need a 3-mile or larger buffer from oil and gas drilling, wind farms and solar projects.
Statoil Takes $350M Hit on Angola Exploration Halt
Friday, November 21, 2014 Norway's Statoil is halting exploration in Angola after poor drilling results, retreating from an offshore area it had high hopes for and capping a poor year for exploration.
Oil Up First Time in 8 Weeks on China Rate Cut, OPEC Expectations
Friday, November 21, 2014 Oil prices rise for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an OPEC output cut.
One Dead in Explosion at Fieldwood Platform in Gulf of Mexico
Friday, November 21, 2014 An explosion at oil and gas operator Fieldwood Energy's Echo Platform in the Gulf of Mexico killed one person and injured at least one, but no pollution was reported, a U.S. safety agency and the company say.

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Exploration

Petronas Awards 2 Exploration Blocks in Sabah to SapuraKencana-Led JV
Friday, November 21, 2014 Petronas awards onshore Blocks SB331 and SB332 in Sabah, east Malaysia to the successful bidding consortium comprising SapuraKencana, M3nergy and Petronas Carigali.
Cue Energy Farms-in for 12.5% Stake in Mahato PSC in Sumatra
Friday, November 21, 2014 Cue Energy signs agreement with Bukit Energy to farm-in for a 12.5 percent stake in the onshore Mahato production sharing contract in central Sumatra, Indonesia.
Ineos Plans $1 Billion Investment In UK Shale Gas
Thursday, November 20, 2014 Ineos announces plans to invest $1 billion in shale gas exploration in Britain as efforts to emulate the US shale boom ramp up.
Tethys Suspends LE-1 Exploration Well in Oman's Block 4 for Further Study
Thursday, November 20, 2014 Tethys Oil suspends LE-1 onshore exploration well in Oman's Block 4 for further study.
CNOOC Discovers Oil at Lufeng 14-4 Structure in South China Sea
Thursday, November 20, 2014 CNOOC makes a mid-sized oil discovery at Lufeng 14-4 structure in eastern South China Sea.
Statoil To Keep Up Exploration Spending Despite Falling Oil Prices
Wednesday, November 19, 2014 Statoil will keep exploration drilling high in 2015 and plans to approve a new project this year, even as oil prices trade at 4-year lows, Ivar Aasheim says.

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Production

Exxon Mobil in Final Talks with Ivory Coast Over Two Oil Blocks
Friday, November 21, 2014 Ivory Coast is finalising production sharing agreements with oil company Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea, a senior official with the country's energy ministry tells Reuters.
Official: Indonesia Favors Pertamina to Operate Mahakam Block After 2017
Friday, November 21, 2014 Pertamina is likely to become the operator and majority shareholder of the offshore Mahakam oil and gas block after the contract of current operator Total E&P Indonesie expires in 2017, an energy ministry official says.
SapuraKencana Acquires Petronas' Stakes in 3 Blocks off Vietnam for $400M
Friday, November 21, 2014 SapuraKencana Petroleum ventures into Vietnam with the acquisition of three offshore blocks from Petronas for $400 million.
Israel Must Improve 'Erratic and Unclear' Oil, Gas Regulations
Thursday, November 20, 2014 Israel still has a lot of work to do to improve "erratic and unclear" regulations if its oil and gas industry is to flourish, speakers say at the UOG 2014 conference.
Azeri BP-Operated Oil, Gas Output In Jan-Sept Near 2013 Level
Thursday, November 20, 2014 Oil output from BP-led oilfields in Azerbaijan between January and September were down slightly from a year earlier, BP-Azerbaijan says, driving a fall in the country's total oil production.
Empire Exits Onshore Carnarvon Basin, Sell Remaining Acreage to Bounty
Thursday, November 20, 2014 Empire Oil & Gas inks agreement to sell its remaining acreage in Western Australia's onshore Carnarvon Basin to Bounty Oil & Gas.

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Finance and Investing

Oil Companies' New Math Makes Them Look Bigger in Texas
Friday, November 21, 2014 Energy companies have long touted to Wall Street investors the number of acres they lease or own as a measure of how many oil and gas shale wells they can potentially drill.
EY: Global O&G M&A Outlook 'Cautiously Optimistic'
Friday, November 21, 2014 Despite an increasingly stable global economy, resilient equity markets and corporate earnings confidence, the global oil and gas M&A landscape remains only cautiously optimistic, according to a recent EY Survey.
Bumi Armada's 3Q 2014 Net Profit Rises to $32.23M, Up 9.9% YOY
Friday, November 21, 2014 Bumi Armada's net profit reaches $32.23 million in the third quarter of 2014, up 9.9 percent from last year's $29.34 million.
Fosun Closes Off-Market Takeover Bid for Roc Oil
Tuesday, November 18, 2014 Fosun International confirms closure its off-market takeover bid for Roc Oil.
Swiber Records 9M 2014 Net Profit of $40.1M, Down 22.8% YOY
Thursday, November 13, 2014 Swiber's net profit declines 22.8 percent to $40.1 million for the first nine months of this year, compared to $51.9 million a year ago.
Neon Energy's Shareholders Vote Against Takeover Bid by Evoworld
Thursday, November 13, 2014 Neon Energy's shareholders vote against Evoworld Corp.'s proportionate off-market takeover bid.

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Company Operations

Pryor to Retire from ExxonMobil
Friday, November 21, 2014 Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, elects to retire on January 1, 2015, after more than 44 years of service.
Mobil App Launched for West Africa Travel
Friday, November 21, 2014 A new mobile app has been launched to provide oil and gas companies with essential information for employees travelling to West Africa.
Ocean Installer Wins Delta House SURF Contract
Friday, November 21, 2014 Ocean Installer wins a contract for an umbilical installation project with Oceaneering for LLOG on the Delta House project in the Mississippi Canyon Area of the U.S. Gulf of Mexico.
Ophir Energy Offers to Buy Salamander in SE Asia Push
Friday, November 21, 2014 British oil and gas explorer Ophir Energy offers to buy Salamander Energy Plc for 267 million pounds ($419 million) to expand in southeast Asia.
Snoozebox Wins Workforce Hotel Deal with Premier Oil
Friday, November 21, 2014 Snoozebox to provide an 80-bedroom temporary workforce hotel to Premier Oil.
Technip Wins Brazilian Flexible Pipe Deal
Friday, November 21, 2014 French oilfield services firm Technip wins a deal to supply high-tech flexible pipes to the Iracema North pre-salt field offshore Brazil.
Intan Extends Charter for 5 OSVs to Emas Offshore by 2 Years for $23M
Friday, November 21, 2014 Perisai Petroleum's unit Intan Offshore extends charter for five of its offshore support vessels to Emas Offshore by two years for around $23 million.
Sonardyne Grows Presence in Australasia, Chooses Scope Engineering as Agent
Friday, November 21, 2014 Sonardyne appoints Scope Engineering as its agent to expand business presence in Australasia.
Cosco Delivers Self-Erecting Drilling Tender Barge to Energy Drilling
Friday, November 21, 2014 Cosco Guangdong delivers a newbuild self-erecting drilling tender barge to Energy Drilling.

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