Industry Headlines

Restructuring at FMC Technologies to Continue Following Layoffs
Thursday, October 20, 2016 FMC Technologies expects to continue its restructuring efforts following layoffs of 1,000 worldwide in this year's third quarter.
Schlumberger Sees Improved Activity In N. America In 2017
Thursday, October 20, 2016 Schlumberger reports a better-than-expected quarterly profit and said it expected improved activity in onshore North American, Middle Eastern and Russian markets next year.
Ex-Venezuela PDVSA Boss Denies $11B Corruption Allegations
Thursday, October 20, 2016 Former PDVSA President Rafael Ramirez denied as "irresponsible lies" a Venezuelan congressional investigation accusing the state oil company of corruption to the tune of $11 billion during his decade-long tenure.
Gains From Higher Rig Count Limited For Halliburton, Schlumberger
Thursday, October 20, 2016 An increase in rigs being put back to work in US shale fields is largely being driven by smaller oil companies.
Energy IPO Pace Picks Up
Thursday, October 20, 2016 With renewed apparent stability in commodity prices and investor appetite gaining strength, energy companies are looking toward the stock market for investment funds.
World Bank Boosts 2017 Crude Oil Forecast To $55 Per Barrel
Thursday, October 20, 2016 The World Bank raises its crude oil price forecast for 2017 to $55 a barrel from $53.
Oil Down 2%, Strong Dollar Knocks US Crude Off 15-Month Highs
Thursday, October 20, 2016 Oil prices settles down more than 2%, as a resurgent dollar encouraged players to take profit on the previous day's rally.
Exxon CEO Doesn't See Supply Shortage Pushing Up Oil Prices
Wednesday, October 19, 2016 ExxonMobil says ample production from US shale regions will keep prices subdued for years to come, disagreeing with others in the industry who have warned about a looming shortage.
Shale Drillers Are Going Long - Not Deep - in the Oil Patch
Wednesday, October 19, 2016 Explorers are drilling longer and longer wells, running thousands of feet sideways to tap as much of the crude-bearing rock as possible.



CNPC's Natgas Block In Peru Likely Has 3-4 TCF In Reserves
Wednesday, October 19, 2016 China National Petroleum Corporation Corp likely has 3-4 trillion cubic feet of proven natural gas reserves in an energy block it operates in southern Peru, Peru's president said Tuesday.
ExxonMobil To Start Drilling First Liberia Well In November
Wednesday, October 19, 2016 ExxonMobil will start drilling its first exploratory well off the coast of Liberia in November.
Solo Oil: Ntorya-2 Rig Mobilization Underway, Spud Expected December
Tuesday, October 18, 2016 Solo Oil plc announced Tuesday that site preparations for the Ntorya-2 appraisal well have now been completed and that the mobilization of the Caroil#2 rig from the Ntorya-1 wellsite is now underway.
Faroe Petroleum: Oil, Gas Discovery Made in Norwegian Sea
Tuesday, October 18, 2016 An oil and gas discovery has been made at the Njord North Flank in the Norwegian Sea, says independent oil and gas company Faroe Petroleum.
HHD Looking to Conduct Significant Appraisal Testing at Horse Hill Find
Monday, October 17, 2016 Horse Hill Developments Ltd submits a planning application to Surrey County Council seeking permission to conduct further significant appraisal testing and drilling at the Horse Hill-1 discovery.
Total E&P Norge Makes Gas Discovery Offshore Norway
Monday, October 17, 2016 Total E&P Norge, operator of production license 043, has made a gas/condensate discovery through wildcat well 30/4-3 S, located offshore Norway.



Mangala Field Hits 300 Million Barrels of Cumulative Production
Thursday, October 20, 2016 Cairn India Limited announced Thursday that the Mangala oil field in Rajasthan has achieved 300 million barrels of cumulative production.
Gabon Oil Workers Strike Cuts Output From Onal Field
Thursday, October 20, 2016 A strike in Gabon by oil workers at French company Maurel and Prom has cut production from the Onal field to 10,000 barrels per day from 28,000 bpd normally.
Rosneft's Sechin Says Russia Has Potential To Raise Oil Output
Thursday, October 20, 2016 Russia has the potential to further increase oil output in the future by up to 200 million tons a year, or 4 million barrels per day, Rosneft's chief executive Igor Sechin says.
Wheatstone LNG Development Start-Up in Mid-2017 Says Woodside CEO
Thursday, October 20, 2016 The Wheatstone LNG development is ready to start-up in mid-2017, according to Woodside Petroleum Ltd CEO Peter Coleman.
Indonesia Sees 63 Uncommitted LNG Cargoes In 2017
Thursday, October 20, 2016 There are currently 63 uncommitted cargoes of liquefied natural gas (LNG) for 2017 delivery from Indonesia's Tangguh and Bontang projects.
DUCs Could Boost US Production by 250K Barrels Per Day
Wednesday, October 19, 2016 Steady oil and gas prices may spur operators into completing wells left idle during the downturn.


Finance and Investing

Bashneft Shareholder Says Received Assurances From Rosneft
Thursday, October 20, 2016 Russian oil major Rosneft agrees to uphold all its commitments to the Russian region of Bashkortostan after taking over mid-sized oil firm Bashneft.
Singapore's Keppel Q3 Profit Falls 38% On Weak Rig Orders
Thursday, October 20, 2016 Singaporean conglomerate Keppel Corp posted a 38% fall in third-quarter profit, hurt by weak orders for its rigs due to a slump in oil prices.
Lukoil Considering Eurobond Within Weeks
Tuesday, October 18, 2016 Lukoil is considering launching its first international bond sale in more than 3 years in the coming weeks.
Russia's UCP Says Plans To Keep Essar Oil Stake For 3-5 Years
Tuesday, October 18, 2016 Russian private investment group United Capital Partners (UCP), which agreed to buy a stake in India's Essar Oil, plans to keep a stake in the company for the next 3-5 years.
Singapore's Ezra Seeks Consent To Amend Terms Of 2018 Notes
Tuesday, October 18, 2016 Singapore's Ezra Holdings Ltd is seeking bondholders' consent to amend the terms of $109 million worth of 2018 notes.
Shell's Philippines Unit Prices Up To $404Million IPO At High End Of Range
Friday, October 14, 2016 The Philippine unit of Royal Dutch Shell plc is set to raise up to $404 million after pricing its IPO at the top end of its range.


Company Operations

Subsea 7 Secures Services Contract Offshore Egypt
Thursday, October 20, 2016 Oilfield services firm Subsea 7 S.A. secures a "substantial" services contract offshore Egypt, worth between $150-300 million, from Pharaonic Petroleum Company.
Woodside: Oil, Gas Deal Environment Has Improved Over Past Year
Thursday, October 20, 2016 The environment for getting deals done in oil and gas is better now than it was a year ago says Woodside Petroleum's Chief Financial Officer Lawrie Tremaine.
BHP Chairman Steps Down After Samarco Delayed Retirement
Thursday, October 20, 2016 BHP Billiton Chairman Jac Nasser says he will not seek re-election at next year's annual general meeting.
MX Oil: First Sale From Oil Production at Aje Registered
Wednesday, October 19, 2016 MX Oil announces that PR Oil and Gas Limited, the holder of its investment in OML 113, has received $1.2 million from the sale of the first production of oil from the Nigerian Aje Field.
Faroe to Increase CAPEX in 2017
Wednesday, October 19, 2016 Independent oil and gas company Faroe Petroleum has announced plans to increase its net capital expenditure for production assets in 2017.
Shell Selling 16 Assets Worth More Than $500M
Wednesday, October 19, 2016 Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales program.
Cluff Natural Resources Reveals Substantial Prospective Resource Increase
Wednesday, October 19, 2016 Cluff Natural Resources plc announces a "substantial" increase in the prospective resources for its wholly owned P2248 (Block 43/11) license, located in the Southern North Sea gas basin.



Pennsylvania Adopts New Fracking Regulations
Friday, October 07, 2016 New regulations governing the extraction of natural gas through fracking will go into effect on Saturday in Pennsylvania.
Kazakhstan Says Kashagan Oilfield Start-Up Going To Plan
Wednesday, October 12, 2016 Work to bring onstream the giant Kashagan oilfield in Kazakhstan is going to plan and some crude has already been processed and put in storage, the country's energy minister says.
Brazil Opens Oil Fields to Foreign Firms in Key Policy Shift
Thursday, October 06, 2016 Brazil's Congress votes to open up its pre-salt oil fields to foreign investors by scrapping Petrobras' obligation to be the area's sole operator.
Federal Appeals Court Hears Arguments Over Dakota Access Pipeline
Wednesday, October 05, 2016 Three federal appeals judges hear arguments over whether to stop work on a crude oil pipeline in parts of North Dakota where tribes say the project will desecrate sacred land.
Trump Meets With Energy CEOs Opposed to Fracking Votes He Backs
Tuesday, October 04, 2016 Energy executives in Denver on Tuesday warn Donald Trump, who has said he supports letting local residents vote on fracking bans, that state regulations are thwarting oil and gas development.
Western Oil Industry Reaction Mixed On OPEC Cut Pledge
Thursday, September 29, 2016 Industry experts warn that despite apparent support from non-OPEC member Russia, the cartel's production cut could still fall apart as individual nation's quotas are determined.



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