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Industry Headlines

Atlas Energy Pays CEO $73 Million Cash as It Becomes Penny Stock
Tuesday, May 24, 2016 Atlas Energy Group, a developer of oil and gas assets, paid CEO Ed Cohen $73.2 million in cash prior to its collapse and suspension from trading on the New York Stock Exchange.
Oklahoma Regulators Raise Concerns on Quake Insurance Rate Hikes
Tuesday, May 24, 2016 Oklahoma regulators grappling with a massive increase in small earthquakes linked to growing oil and gas production say they are concerned with spiking rates for earthquake insurance coverage and diminishing competition.
Oil Ends Up on US Crude Drawdown Hopes, Wall Street Rally
Tuesday, May 24, 2016 Oil prices rose on Tuesday as investors anticipated a weekly drawdown in US crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support.
Oil Advances as US Crude Inventories Projected to Decline
Tuesday, May 24, 2016 Oil climbed before the release of US government data that is forecast to show crude inventories declined, easing a glut.
Waste Stream Provider BlueJack Receives Millions of Dollars in PE Funding
Tuesday, May 24, 2016 Waste stream management solutions provider BlueJack Energy receives an initial equity commitment of up to $100 million from Energy Spectrum Capital.
Climate Change Takes Center Stage at Exxon, Chevron Annual Meetings
Tuesday, May 24, 2016 Exxon Mobil Corp and Chevron will face their toughest-ever push by shareholders concerned about a warming world at annual meetings on Wednesday.
Iraq Sticks to Oil Output Growth Plan Despite Spending Cuts
Tuesday, May 24, 2016 Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in OPEC's second-largest producer that projects could be delayed due to spending cuts.
Industry Optimistic about Iraq's Petroleum Future
Tuesday, May 24, 2016 Oil and gas officials optimistic about Iraq's petroleum future, despite evident challenges, at the 10th Iraq Petroleum Conference, held in London.
Shell Faces Rising Investor Discontent Over Executive Pay
Tuesday, May 24, 2016 Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year's annual shareholder meeting on Tuesday.
Shell CEO Warns Renewables Shift Could Spell End If Too Swift
Tuesday, May 24, 2016 Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group's chief executive warned.

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Exploration

UKOOG Supports Yorkshire Council's Fracking Approval
Tuesday, May 24, 2016 UKOOG welcomes North Yorkshire County Council's decision to approve the hydraulic fracture of Third Energy's Kirby Misperton well.
CNPC, ENH to Cooperate on Oil & Gas Projects in Mozambique
Tuesday, May 24, 2016 China National Petroleum Corp. (CNPC) and Mozambique's Empresa Nacional de Hidrocarbonetos (ENH) sign oil and gas cooperation agreement.
Wintershall Makes Small North Sea Discovery
Monday, May 23, 2016 Wintershall Norge AS, operator of production license 248, makes a small oil discovery near the Vega field in the North Sea.
At-13 Well in Algeria Hits 240-Foot Gas-Bearing Formation
Monday, May 23, 2016 The AT-13 development well in Algeria penetrates a 240-foot gas and condensate bearing formation.
BP's Oil Search Strategy Shrinks With Budget Cuts
Monday, May 23, 2016 The departure of BP's exploration boss has turned the spotlight on an oil search strategy that is focusing mainly on expanding existing fields rather than venturing into the unknown.
Exxon, Total, Chevron In Talks With Pemex On Gulf Prospects
Friday, May 20, 2016 Pemex is in talks with Exxon Mobil Corp., Total and Chevron as Mexico?s struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico.

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Production

Thai PTTEP Says Keen To Buy Stake In Myanmar Gas Field From Chevron
Tuesday, May 24, 2016 PTT Exploration and Production Pcl (PTTEP), Thailand's largest oil and gas explorer, says it was keen to buy a stake in Yadana gas field in Myanmar from Chevron Corp.
Decmil Bags Framework Deal with QGC for Brownfield Projects in Surat Basin
Tuesday, May 24, 2016 Decmil Australia bags a framework agreement with QGC for brownfield projects within the Surat Basin in Queensland, Australia.
Real Energy Commences Fracture Stimulation Program at Tamarama-1
Monday, May 23, 2016 Real Energy Corporation Limited commences a five-stage fracture stimulation program at theTamarama-1 well at located in the Windorah Gas Project in ATP 927P, Australia, Queensland.
Sinopec Targets 15Bcm Annual Shale Gas Production Capacity In Chongqing
Monday, May 23, 2016 Sinopec is targeting annual shale gas production capacity of 15 billion cubic metres and annual shale gas output of 10 bcm in the southwestern city of Chongqing by 2020.
Militants Attack Agip Oil Pipeline In Nigeria's Bayelsa State
Sunday, May 22, 2016 A crude oil pipeline in Nigeria's southern state of Bayelsa, operated by the local subsidiary of Italy's Eni, was attacked on Sunday.
Egypt's Gas Projects To Increase Production To 6Bcf Per Day By End-2019
Sunday, May 22, 2016 Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day by the end of 2019, says Oil Minister Tarek El Molla.

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Finance and Investing

Energy Bet of $459B Seen as Overlooked Risk for Insurers
Tuesday, May 24, 2016 US insurers are risking financial stability by holding $459 billion of energy-related investments without considering the "broad and deep" threat that climate change poses to the assets, according to an environmental advocacy group.
Malaysia's UMW O&G Incurs a Loss Before Tax of $16.6M in 1Q 2016
Tuesday, May 24, 2016 UMW Oil & Gas incurs a loss before tax of $16.64 million in the first quarter of 2016, down from a profit before tax of $10.33 million in the previous year.
SDX Raises Funds to Support Egypt Operations
Monday, May 23, 2016 SDX Energy Inc raises approximately $11 million through a private placement, which will be used to fund its activities in Egypt.
Russian Economy Minister: Gazprom May Buy Own Shares From VEB
Friday, May 20, 2016 Gazprom might buy some of its own shares from troubled state development bank Vnesheconombank, says Economy Minister Alexei Ulyukayev.
Rosneftegaz Might Pay Interim Dividend If Rosneft Stake Privatized
Friday, May 20, 2016 Rosneftegaz, which owns 69.5% of Russia's biggest oil producer Rosneft, might pay interim dividends should Rosneft be privatized.
Circle Oil Warns There Could Be Little or No Value Left for Shareholders
Friday, May 20, 2016 Circle Oil plc warns there could be little or no value left for shareholders, after taking into account its $77.5 million outstanding debt position and the nature of indicative proposals received to date.

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Company Operations

PNG Watchdog: Oil Search, InterOil Should Seek Approvals For Merger
Tuesday, May 24, 2016 Papua New Guinea may challenge the $2.2 billion merger between Oil Search and InterOil if they fail to comply with anti-competition procedures, the country's corporate watchdog says.
Australia's Tap Oil Renews Board, Appoints Three New Directors
Tuesday, May 24, 2016 Australia's Tap Oil renews company board with appointment of three new directors.
SMOE Delivers Ivar Aasen Field's Platform Deck to Det norske
Tuesday, May 24, 2016 SMOE delivers the platform deck for the Ivar Aasen field in the North Sea to Det norkse, with sailaway from Singapore to Norway planned for early June.
McDermott Charts Growth Path Following Company Restructuring
Monday, May 23, 2016 Fresh from a company turnaround, offshore engineering and construction firm McDermott gears up to tap opportunities in a market beset by the challenges of low oil prices.
Europa Oil & Gas Signs PEDL143 Farm-Out Deal with UJO
Monday, May 23, 2016 Europa Oil & Gas (Holdings) plc signs a farm-out agreement in relation to a 7.5% working interest in the PEDL143 license, located in the Weald Basin, with Union Jack Oil and Gas plc (UJO).
Atlas Professionals Secures NCS Contract with Det Norske
Friday, May 20, 2016 Atlas Professionals secures a frame agreement with Det norske oljeselskap ASA to support its operations on the Norwegian Continental Shelf, commencing June 1.

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Brent Crude Oil : $48.61/BBL 0.53%
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