Industry Headlines

US Oil Production On Brink Of 'Dramatic' Decline, Exec Says
Tuesday, October 06, 2015 Oil executives warn of a "dramatic" decline in US production that could pave the way for a future spike in prices if fuel demand increases.
Saudi Aramco Said to Hire Deutsche Bank for CNPC Deal Talks
Tuesday, October 06, 2015 Saudi Aramco hires Deutsche Bank to advise on the potential acquisition of some marketing, retail and refining assets from CNPC, according to people with knowledge of the matter.
OPEC Sec-Gen Sees Oil Market Improving, Low Price Will Not Persist
Tuesday, October 06, 2015 OPEC sees the oil market improving because of higher demand for the group's crude and a drop in supply growth from non-members, its secretary-general says.
Russia, Saudi Energy Ministers Discussed Oil Demand, Production, Shale
Tuesday, October 06, 2015 Russia and Saudi Arabia agree to continue consultations, exchanging views on demand, production and shale oil, Russian Energy Minister Alexander Novak tells reporters.
PETRONAS' First Female Drilling Supervisor Settles in Trailblazing Role
Tuesday, October 06, 2015 Penny Chan is proof that female employees in Malaysia's PETRONAS can take on challenging roles in a male-dominated offshore oil and gas sector when the opportunity arises.
US EIA Sees Tighter 2016 Oil Market As Demand Accelerates
Tuesday, October 06, 2015 Global oil demand will grow by the most in 6 years in 2016 while non-OPEC supply stalls, according to a monthly US energy report that suggests a surplus of crude is easing more quickly than expected.
Oil Jumps $2, Breaking Range As Supply Seen Ebbing
Tuesday, October 06, 2015 Oil prices jump more than $2 a barrel, breaking out of a month-long trading range.



Egypt Awards 4 Offshore Oil, Gas Exploration Licences
Tuesday, October 06, 2015 Egypt awards four new licenses to explore for oil and gas off its Mediterranean coast.
Beach Energy Spuds the Maroochydore-1 Exploration Well in Queensland
Tuesday, October 06, 2015 Beach Energy spuds the Maroochydore-1 prospect in ATP 924 in Queensland, Australia, marking the commencement of its financial year 2016 drilling program.
USGS Estimates 21 Million Barrels at California's Monterey Formation
Tuesday, October 06, 2015 The volume estimated in the new study is small, compared to previous USGS estimates of conventionally trapped recoverable oil in the Monterey Formation in the San Joaquin Basin.
Lundin Spuds Barents Sea Well
Monday, October 05, 2015 Lundin Norway AS spuds exploration well 7220/6-2, located in PL609 on the Neiden prospect in the Barents Sea.
Oil Patch Braces for Exploration Chill After Canada's Election
Monday, October 05, 2015 As Canada's oil patch grapples with a price shock, pipeline delays and rising tax rates, the federal election could add another barrier to recovery by reining in a key incentive for development of new wells.
Maersk Oil Makes Minor Gas Discovery Offshore Norway
Friday, October 02, 2015 Maersk Oil Norway AS makes a minor gas/condensate discovery near the Tyrihans field in the Norwegian Sea.
Oil Up, Erasing Early Loss; US Rig Count Down 5th Week
Friday, October 02, 2015 Crude prices erase early losses to rise by 1% or more after a report showing the fifth weekly decline in the US oil rig count renewed the debate over falling production in the world's top oil consumer.



Official: UAE's Shah Gas Project Hits Full Output Capacity
Tuesday, October 06, 2015 The United Arab Emirates' Shah gas project has reached its full production capacity, according to the chief executive of Al Hosn Gas.
Independent Resources, Nostra Terra to Acquire Producing Egyptian Asset
Tuesday, October 06, 2015 Independent Resources and Nostra Terra Oil & Gas Company reach an agreement with TransGlobe Energy Corporation to acquire a 50% non-company operated interest in the East Ghazalat concession in Egypt.
TPDC to Acquire 5% Stake in Kilwani North Development License in Tanzania
Tuesday, October 06, 2015 Tanzania Petroleum Development Corp. plans to acquire a five percent stake in the Kilwani North Development License in Tanzania.
First Gas Flows From New Offshore Platform at Philippines' Malampaya Field
Tuesday, October 06, 2015 Gas production commences at a new offshore platform in the Malampaya field off the coast of Palawan Island in the Philippines.
San Leon Energy: Rawicz-15 to Spud in November
Monday, October 05, 2015 San Leon Energy announces that the Rawicz-15 development well, located on the Rawicz field in Poland, will spud during November 2015.
Ramba Sells 35% Stake in Lemang PSC in Sumatra to Mandala for Up to $179.6M
Monday, October 05, 2015 Ramba Energy sells 35 percent stake in Lemang Production Sharing Contract in Sumatra, Indonesia to KKR-backed Mandala Energy for up to $179.6 million.


Finance and Investing

Brazil's Petrobras Cuts Spending Plan for 2nd Time in 3 Months
Tuesday, October 06, 2015 Petrobras, struggling with the biggest debt load among global oil firms, cuts $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump.
Shell CEO Doing All to Safeguard Dividends Amid Low Oil Prices
Tuesday, October 06, 2015 Shell is "puling out all the stops to safeguard" its dividend in a world where oil prices remain "lower for longer," CEO Ben Van Beurden says.
Kazakhstan Says May Cut Oil Taxes To Spur Investment, Lift Output
Tuesday, September 29, 2015 The government in Kazakhstan is considering cutting the mineral extraction tax (MET) for some oil fields to try to reverse falling output, a senior energy official says.
SapuraKencana Posts $28M Net Profit in 2Q FY16, Down 61% from 1Q FY16
Tuesday, September 15, 2015 SapuraKencana Petroleum's revenue rises 22.9 percent gain in the second quarter that ended July 31 to $762 million, but profit after tax falls 61.1 percent to $28 million due to provision for impairment of its oil and gas assets.
China to Lend $12B to Novatek-Led Yamal LNG
Friday, September 11, 2015 Chinese banks are expected to lend $12 billion to the Novatek-led Yamal LNG project, according to Novatek Chief Executive Leonid Mikhelson.
Petrobras Says Project Financing Unaffected by S&P Downgrade
Friday, September 11, 2015 Petrobras says its financing is sufficient to fund projects in the medium term, despite the downgrade of the company's credit rating by Standard & Poor's.


Company Operations

President Energy to Acquire Remaining Stake in Paraguay Asset
Tuesday, October 06, 2015 President Energy Paraguay S.A. reaches a deal to acquire Pirity Hidrocarburos S.R.L.'s entire 36 percent interest in the Pirity Concession, located in northwest Paraguay.
Source: Nigeria Arrests Co-Chair of Atlantic Energy over Corruption
Tuesday, October 06, 2015 An official at Nigeria's Economic and Financial Crimes Commission says that the co-chairman of local oil firm Atlantic Energy has been arrested over corruption and money laundering charges.
Skandi Africa Vessel Delivered and Working for Technip
Tuesday, October 06, 2015 DOF Subsea Group says it has taken delivery of the Skandi Africa deepwater subsea construction vessel and has contracted it out to Technip for five years.
Wood Group Appoints New CEO
Tuesday, October 06, 2015 Wood Group appoints Robin Watson as its new chief executive officer, effective January 1, 2016.
Civmec Clinches Contracts for Ichthys, Gorgon Projects in Australia
Tuesday, October 06, 2015 Civmec clinches contracts for refractory installation services at the Ichthys and Chevron gas projects in Australia.
MOL, Gas Sayago to Continue with Development of the Uruguay FSRU Project
Tuesday, October 06, 2015 Japan's Mitsui O.S.K. Lines to continue proceeding with the floating storage and regasification unit project led by Uruguay's Gas Sayago.
Perisai, PPL to Defer Delivery of Jackup Perisai Pacific 102 to March 2016
Tuesday, October 06, 2015 Malaysia's Perisai Petroleum Teknologi reaches agreement with Singapore's PPL Shipyard to defer delivery of newbuild jackup Perisai Pacific 102 to March 2016.



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