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Industry Headlines

Oil M&A Is Back As Industry Focus Shifts From Survival To Growth
Friday, August 26, 2016 Multibillion-dollar oil and gas deals are back on the table.
Low Prices May Hobble Potentially Massive New Canada Oilfield
Thursday, August 25, 2016 The West Orphan Basin may still struggle to attract exploration bids in a November land sale due to persistently low crude prices.
Seadrill Says Oil Industry May Be Turning As 2Q Beats Forecast
Thursday, August 25, 2016 Seadrill says the oil industry may be turning a corner as it posts Q2 earnings above forecasts.
Thailand Embarking On LNG Shopping Spree As Glut Depresses Price
Thursday, August 25, 2016 Bangkok is about to become a very important destination for sellers of liquefied natural gas.
What's Hot in Downstream? Have Your Say!
Thursday, August 25, 2016 Your input is important for a new DownstreamToday initiative.
Technology Aiding Innovation, Sustainability at ConocoPhillips
Thursday, August 25, 2016 Technology innovation is one strategy ConocoPhillips is pursuing to create a business sustainable through market cycles.
E&P Companies Target Potential of STACK, SCOOP Plays
Thursday, August 25, 2016 Operators are testing the oil potential of the STACK and SCOOP plays as they seek E&P opportunities that work in a lower oil price environment.
Oil Up On US-Iran Scare, Dollar; Saudi Output Stance Cuts Gains
Thursday, August 25, 2016 Oil prices rise 1% on US-Iran military tensions in the Gulf and speculation the dollar will fall.
Norway's Oil Investments To Fall Again In 2017
Wednesday, August 24, 2016 Investment in Norway's oil and gas sector will drop next year as weak crude prices push energy companies to rein in their budgets.

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Exploration

Thailand To Open Bids For Energy Concessions In March 2017
Thursday, August 25, 2016 Thailand's military government plans to open bids in March 2017 for expiring oil and gas contracts held by Chevron Corp and PTT Exploration and Production.
Oil, Gas Found in Chachahuen Block, Argentina
Thursday, August 25, 2016 Oil and gas discoveries have been made in the Chachahuen block in the Province of Mendoza, Argentina.
Mexico Energy Regulator Names Firms Qualified For Deepwater Tender
Thursday, August 25, 2016 Mexico's energy regulator says that 26 companies had qualified to participate in the country's deepwater oil tender in December, the jewel in the crown of a landmark energy sector opening.
EGME: Work Begins on 2D Seismic Survey in Wajir Kenya
Wednesday, August 24, 2016 Work commences on the 2D seismic survey of Block 2A in Wajir, Kenya.
SDX Energy 'Well Placed' to Drill South Disouq Well
Wednesday, August 24, 2016 SDX Energy Inc. is well placed to maximize the potential of its South Disouq asset in Egypt, says the company's president and CEO Paul Welch.
GE Oil & Gas Secures Wellhead Services Contract with ONGC
Tuesday, August 23, 2016 GE Oil & Gas secures a multi-million dollar frame agreement with Oil and Natural Gas Corporation Limited (ONGC), India's largest exploration and production company.

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Production

Statoil Starts Production From Fram C East Well
Thursday, August 25, 2016 Production begins from the Fram C East production well offshore Norway.
NPD Grants Statoil Lifetime Extension for Gullfaks B
Thursday, August 25, 2016 The NPD grants Statoil permission to use the B platform on the Gullfaks field in the North Sea until January 1, 2036, which corresponds to the length of the production license.
OPEC Meeting Won't Result in Production Freeze, Cut
Thursday, August 25, 2016 OPEC's informal September meeting in Algeria won't result in a production freeze or a production cut, says global investment banking firm Jefferies.
Beach Energy Completes Callawonga-12 Well Drilling in Cooper Basin
Thursday, August 25, 2016 Beach Energy completes drilling of Callawonga-12 development well in South Australia's Cooper Basin, with the rig expected to drill 1 to 2 exploration wells in PRL 85-104 in October.
OGDCL Successfully Completed Testing of 2 Wells in Pakistan's Nashpa Field
Thursday, August 25, 2016 Oil & Gas Development Co. Ltd. (OGDCL) successfully completed testing of the Nashpa #6 & 7 development wells in the Nashpa field in Pakistan.
Cooper Energy Seeks New Buyer for Tangai-Sukananti KSO in Sumatra
Wednesday, August 24, 2016 Cooper Energy seeks buyer for its stake in the Tangai-Sukananti KSO in South Sumatra, Indonesia after the ACL-Lamara joint venture terminated the purchase transaction.

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Finance and Investing

Reach Energy Secures SCM's Approval to Buy Stake in Kazakh O&G Firm
Friday, August 26, 2016 Reach Energy secures Securities Commission Malaysia's (SCM) approval for its acquisition of a stake in Palaeontol B.V., which owns an onshore oil and gas block in Kazakhstan.
Filing Bankruptcy, Key Energy Expects to Remain Public Company
Thursday, August 25, 2016 Key Energy is the latest in a long line of oilfield service companies to file for a reorganization of its debts and assets, extending the bankruptcy streak that's burdened oil and gas for almost two years.
Russia's Gazprom Neft Q2 Net Profit At 48.9B Rbls
Thursday, August 25, 2016 Gazprom Neft, one of Russia's top oil producers, made a net profit of $752 million in Q2.
China Oil Giants Unmoved By Bull Rally After Worst Earnings
Thursday, August 25, 2016 After posting their worst-ever half-year results, two of China's oil giants aren't getting carried away by crude's return to a bull market, forecasting a rocky path ahead.
Petrochina Profits Sink As Weak Prices, Oversupply Bite
Wednesday, August 24, 2016 PetroChina Co Ltd reports sharply lower profits for the first half of the year, hit by slowing demand growth for refined products, an oversupply of crude and weak prices.
China's CNOOC Swings To H1 Loss, Punished By Weak Oil, Gas Prices
Wednesday, August 24, 2016 CNOOC Ltd swings to a loss in the first half of 2016 as revenue sank almost by a third because of lower crude oil and natural gas prices.
China Oil Giants Seen Soothing Investors With Post-Crash Payouts
Tuesday, August 23, 2016 China's biggest oil companies may use special dividends to soothe investors after the collapse in energy prices.

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Company Operations

Pavilion Energy, Pertamina Ink MOU to Develop Small Scale LNG Solutions
Friday, August 26, 2016 Singapore's Pavilion Energy and Indonesia's Pertamina ink a memorandum of understanding to develop small scale liquefied natural gas (LNG) solutions in the region.
PBJV Bags Contract from PETRONAS Carigali for Work Off East Malaysia
Friday, August 26, 2016 Barakah Offshore's unit PBJV bags contract to provide underwater services for PETRONAS Carigali's oil and gas fields offshore East Malaysia.
Kazakh KazMunayGaz Says Plans No New Offer For KMG EP
Thursday, August 25, 2016 KazMunayGaz has no immediate plans to make a new offer to the minority shareholders of its London-listed upstream unit.
BW to Provide FSRU for Pakistan's Second LNG Terminal Project
Thursday, August 25, 2016 BW signs agreement with Pakistan GasPort Ltd. (PGPL) to provide a floating storage and regasification unit (FSRU) for Pakistan's second liquefied natural gas (LNG) terminal.
Cosco Delivers 2 Jackups to Foresight Group and a PSV to a European Buyer
Thursday, August 25, 2016 Cosco Dalian delivers 2 jackups to the Foresight Group, while a European buyer took delivery of a platform supply vessel (PSV) from Cosco Guangdong.
Sound Energy Appoints Ex-BG Exploration Lead
Wednesday, August 24, 2016 Sound Energy plc appoints Brian Mitchener as the company's executive vice president of exploration.
Sembcorp Marine Acquires Remaining 15% Stake in PPL Shipyard for $115M
Wednesday, August 24, 2016 Sembcorp Marine acquires 15 percent interest in PPL Shipyard for $115 million, giving it full ownership of the Singapore yard.
DMB Reveals Value of Recent Deal with Schlumberger in Saudi Arabia
Wednesday, August 24, 2016 Daya Materials Berhad (DMB) says its unit Daya Maxflo's recent contract with Schlumberger in Saudi Arabia was worth around $9.2 million.

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Policy

PDC Energy Stock Up 33% on Unlikely Niobrara/DJ Basin Proposal
Thursday, August 25, 2016 Shares in companies that operate in Colorado, such as PDC Energy and Anadarko Petroleum Corp., are benefiting from the expected failure of the setback initiative to make November ballot.
Iran's Oil Minister to Join OPEC Talks on Market in Algeria
Thursday, August 25, 2016 Iran's oil minister will join an informal meeting of OPEC members next month in Algiers, a state news service reported, ending uncertainty about whether OPEC's third-biggest producer would participate.
Canada May Ask Oil Firms to Pay Extra for Far-Offshore Drilling
Wednesday, August 24, 2016 Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore, according to an internal government memo.
Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Monday, August 22, 2016 Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister says, standing by a demand made by his predecessor.
Texas Railroad Commission Overhaul in the Works
Friday, August 19, 2016 Commissioner Christi Craddick and industry interest groups work on new initiatives before Texas Legislature convenes.
Indonesian Acting Energy Minister Says Abadi LNG Remains a Priority Project
Thursday, August 18, 2016 Indonesia's Acting Minister for Energy and Mineral Resources Luhut Panjaitan says the Abadi liquefied natural gas project in the offshore Masela block remains a priority project for the country.

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