Industry Headlines

Former Senior China Energy Exec Jailed for 20 Years for Graft
Tuesday, October 13, 2015 A court in central China jails a former senior Chinese energy executive for 20 years on corruption charges.
Putin Bets on Germany as Gas Ties with Turkey Go Sour Over Syria
Tuesday, October 13, 2015 It takes less than a year for Russian President Vladimir Putin to go from hailing Turkey as a potential linchpin in natural gas supplies to Europe to shunning it.
IEA: Oil Glut To Persist As Global Demand Growth Slows
Tuesday, October 13, 2015 A global oil supply glut will persist through 2016 as demand growth slows from a 5-year high and key OPEC members maintain near-record output, IEA says.
Oil Workers in Canada Find There's No Free Lunch as Perks End
Tuesday, October 13, 2015 Canadian energy companies have cut thousands of jobs and scrapped projects in a drive to cut costs. Now they're raiding workers' perks.
Oil Prices Pare Early Gains, Close Lower On Oversupply Concerns
Tuesday, October 13, 2015 Oil prices give up early gains and close lower after the IEA rekindled fears that the market remains over supplied.
Oil Settles Down 5% On Profit Taking And As OPEC Boosts Output
Monday, October 12, 2015 Oil prices tumble, settling 5% lower as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut.
Rig Trends: Offshore Rig Supply/Demand Gap Continues to Widen
Tuesday, October 13, 2015 With oil prices now expected to remain low for at least the next year, rig contracts continue to be cancelled and options are being allowed to lapse.



Repsol Drills Dry Well in Norwegian Sea
Tuesday, October 13, 2015 Wildcat well 6306/5-2, located in the Repsol Norge AS operated production license 642, has come up dry.
Billionaire's Exit Prompts Sri Lanka to Seek New Oil Explorer
Tuesday, October 13, 2015 Sri Lanka will issue a fresh international tender for offshore oil and gas blocks after billionaire Anil Agarwal's Cairn India relinquished its exploration rights in the South Asian island.
OMV: Gas Discovered in Pakistan's Latif License
Monday, October 12, 2015 OMV announces that gas has been discovered in the Latif South-1 exploration well, located in Pakistan's Latif exploration license.
Eni Secures 2 New Exploration Licenses in EGAS Bid Round
Monday, October 12, 2015 Eni secures 2 new exploration licenses in the Mediterranean Sea, as part of the 2015 EGAS (Egyptian Natural Gas Holding Company) bid round.
Icewine Spud Pushed Back Due to Permit Delay
Monday, October 12, 2015 The spud of the Icewine #1 well, located onshore Alaska, has been pushed back due to a delay in the approval process for the final remaining permit required to commence drilling.
North Energy Sells Barents License Stake to Pure E&P
Monday, October 12, 2015 Junior explorer North Energy sells its 10-percent interest in production license 706 to Pure E&P Norway.



Putin Says Nord Stream II Not Aimed at Cutting off Anyone from Transit
Tuesday, October 13, 2015 Russian President Vladimir Putin says the planned Nord Stream II gas pipeline is not aimed at cutting off anyone from transit.
Saudi Starts Oil Supplies to Poland, in Setback for Russia
Tuesday, October 13, 2015 Saudi Arabia starts supplying crude oil to Poland, becoming the latest Middle Eastern producer to enter a market traditionally dominated by Russia.
Circle Oil: KSR-A Well Onshore Morocco Flows Gas
Tuesday, October 13, 2015 The Ksiri West-A (KSR-A) exploration well on the Sebou Permit, onshore Morocco, flows gas at a rate of 8 million cubic feet per day, following tests.
Indian Oil Corp. to Spend $5B Over Next 5-7 Years to Expand E&P Business
Tuesday, October 13, 2015 Indian Oil Corp. plans to spend $5 billion over the next 5 to 7 years to expand its exploration and production business.
VAALCO Updates on Operations at Etame Marin Block Offshore Gabon
Tuesday, October 13, 2015 VAALCO provides an update of its operations at the Etame Marin block offshore Gabon.
Transerv Spuds Warro-6 Well in Warro Gas Field in Western Australia
Tuesday, October 13, 2015 Transerv Energy spuds Warro-6 at the Warro gas field in Western Australia, with drilling of the well delayed by mechanical issues during the rig move and set up.


Finance and Investing

US Shale Firms See Smaller-Than-Expected Cuts To Credit Lines
Tuesday, October 13, 2015 US shale oil and gas producers have seen smaller-than-expected cuts to their credit lines, a sign that banks could be relaxing their lending standards to help companies avoid technical defaults.
Source: Israel's Delek Group Eyes London Share Listing in 2016
Tuesday, October 13, 2015 Israel's Delek Group could list on the London Stock Exchange in 2016 as part of a strategy to become a global oil and gas firm.
Russia's Bashneft Sees No Threat to Dividends from Oil Taxation Change
Monday, October 12, 2015 Bashneft says it will stick to its dividend policy despite the recent change in oil taxation by the Russian government.
Nostrum Withdraws Tethys Takeover Offer, AGR Proposes Share Deal
Wednesday, October 07, 2015 AGR Energy Holdings Limited issues a non-binding LOI to acquire $20M worth of Tethys shares, following the withdrawal of Nostrum Oil & Gas' offer to acquire the entire issued share capital of Tethys.
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.


Company Operations

Noreco CEO Steps Down
Tuesday, October 13, 2015 Noreco CEO Tommy Sundt steps down as the company's CEO, effective immediately.
Petrofac Wins Shell Iraq Training Contract
Tuesday, October 13, 2015 Petrofac wins a multi-million dollar contract to supply training services to Shell Iraq.
OPITO Urges Industry Not to Compromise on Safety amid Low Oil Price
Tuesday, October 13, 2015 David Doig, the chief executive of oil and gas skills and training body OPITO, urges the industry not to cut corners on safety training and competence in the face of sub $50 oil prices.
Jee Secures BP Contract Extension
Tuesday, October 13, 2015 Jee secures a contract extension with BP for the provision of integrity management services and in-line inspection engineering support in the North Sea.
Australia's Ausdrill Names Theresa Mlikota as CFO, Replaces Jose Martins
Tuesday, October 13, 2015 Australia's integrated mining and energy services group Ausdrill names Theresa Mlikota as chief financial officer to replace Jose Martins.
Indonesia's Saka Energi Seeks $500M in Bank Loans to Fund 2016 Growth Plan
Tuesday, October 13, 2015 PT Saka Energi seeks $500 million in bank loans by end of this year to fund its 2016 upstream expansion plans.



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