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Industry Headlines

API: Obama Catering to Activists with Oil Tax Proposal
Monday, February 08, 2016 Oil and gas trade association criticizes recent White House proposal, says new tax on oil would be a "head in the sand" movement.
Fire On Mexico Pemex Platform Kills 3 Workers, Now Under Control
Monday, February 08, 2016 Three workers are killed and at least seven injured due to a fire on a Pemex oil processing platform in the Gulf of Mexico.
As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis
Monday, February 08, 2016 As oil and gas companies cut ever deeper into the bone to weather their worst downturn in decades, boards adopt contrasting strategies to lead them out of the crisis.
Why Oil, Gas is Still a Great Industry to Be In
Monday, February 08, 2016 Despite current market difficulties, there are really good reasons why workers should stay in oil and gas.
Chesapeake Falls by Most Since '93 Amid Cash Drought Concern
Monday, February 08, 2016 Chesapeake Energy says it has no plans to seek bankruptcy protection, dismissing a report that wiped out half the US natural gas driller's value.
Oil Down On US Build Worry; Saudi-Venezuela Talks Uninspiring
Monday, February 08, 2016 Global oil markets fall 3% to settle down for a third straight day on worries that US crude stockpiles had reached new record highs.
Oil Falls in Volatile Trade Ahead of Key Oil Producer Meeting
Friday, February 05, 2016 Oil prices end the week lower in choppy trading, snapping two weeks of gains, as speculation about possible deal between top oil producers clash with concerns about a growing supply glut.
Workers at Ivory Coast's State Oil Company Petroci Extend Strike
Friday, February 05, 2016 Workers at Ivory Coast's state oil company Petroci extend strike,. seeking to bring in employees from other companies to join their protest against layoffs, union officials say.
Cuadrilla Faces Five-Week Public Hearing on Fracking in UK
Friday, February 05, 2016 A pause on fracking in northwest England that cooled expansion of the practice in the rest of the country may end after a five-week public inquiry scheduled next week.

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Exploration

Qatar Petroleum to Acquire Part of Chevron's Moroccan Assets
Monday, February 08, 2016 Qatar Petroleum reaches an agreement with Chevron Morocco Exploration to acquire a 30% participating interest from Chevron's 75% share in three deepwater offshore leases located in Morocco.
Sound Energy Granted Option to Acquire Onshore Moroccan Interest
Monday, February 08, 2016 Sound Energy has been granted an option to acquire a 55% interest in the Meridja permit, onshore Morocco by Oil & Gas Investment Fund S.A.S (OGIF).
Resource Upgrade at SNE Discovery Following Independent Report
Monday, February 08, 2016 Best estimate 2C contingent resources at Cairn's SNE oil discovery increase by 42% to 468 million barrels of oil.
Sources: Total-Led Consortium Bids for Greek Offshore Gas Drilling Block
Friday, February 05, 2016 France?s Total, along with Hellenic Petroleum and Edison, bid for one offshore gas block in the west of Greece.
Faroe to Drill 3 Exploration Wells in 2016 despite Oil Price
Friday, February 05, 2016 Junior oil firm Faroe Petroleum will be involved in three exploration wells offshore Norway in spite of the low oil price.
Aberdeen University Gets OGIC Funding for Rock Mechanics Kit
Thursday, February 04, 2016 Funding from Scotland's Oil and Gas Innovation Centre secures $735,000 of rock mechanics equipment for Aberdeen University.
OGDCL: Oil, Gas Discovered at Nashpa X-5 Well in Pakistan
Thursday, February 04, 2016 Crude oil and gas has been discovered at the Nashpa X-5 exploration well, located in Pakistan's Karak District.

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Production

Extended Flow Test Commences Over Horse Hill-1
Monday, February 08, 2016 Horse Hill Developments Limited commences operations to conduct a planned extended flow test over 3 separate zones in the Horse Hill-1 oil discovery well.
Total Brings Laggan-Tormore Onstream
Monday, February 08, 2016 Total starts production from the Laggan and Tormore gas and condensate fields, which are located in the West of Shetland area.
Petsec Energy Acquires 100% Stake in Damis Production License
Friday, February 05, 2016 Petsec Energy Ltd acquires a 100% participating interest in, and operatorship of, the Damis Production License in the Republic of Yemen's Block S-1.
Russia's Sakhalin-2 LNG Plant Expects Maintenance Works to Last until March
Thursday, February 04, 2016 Russia's sole liquefied natural gas plant Sakhalin-2 expects maintenance works to last until March.
Armour Commences Legal Proceedings Against AEP's Australian Affiliate
Thursday, February 04, 2016 Armour Energy commences legal proceedings in Queensland's Supreme Court after American Energy Partners's affiliate AEGP Australia failed to complete the farm-in to its Northern Territory tenements in Australia.
Buru Provides Update on Ops at Ungani Far West 1 Well in Canning Basin
Thursday, February 04, 2016 Buru Energy updates on operations at the Ungani Far West 1 well in Canning Basin, Western Australia.

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Finance and Investing

IMF Says Ready to Lend to African Oil Producers; No Requests Yet
Tuesday, February 02, 2016 The International Monetary Fund says it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding requests from the region.
Ecopetrol Dividend Policy Seeks to Prevent Slide Into Junk
Tuesday, February 02, 2016 Colombia?s state-controlled Ecopetrol SA will pursue a dividend policy this year designed to safeguard the company?s investment grade rating amid the slump in oil prices.
Oil Industry's Plan to Keep Investors Happy: Borrow More Money
Tuesday, February 02, 2016 The world?s largest oil companies have a plan to weather the worst market in over a decade: borrow more money.
Anadarko Says It May Cut Dividend Due to High Yield
Tuesday, February 02, 2016 Oil producer Anadarko Petroleum Corp may cut its dividend because its falling share price amid the oil price plunge has pushed the yield too high.
Russian Oligarchs Most Likely Buyers in Putin's New Privatisation Plan
Tuesday, February 02, 2016 Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell.
Texas Shale Drillers Lure $2 Billion in New Equity to Permian
Tuesday, February 02, 2016 Oil producers in West Texas, defying expectations they would fall victim to OPEC?s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.

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Company Operations

Transocean-Murphy Deepwater Rig Cancellation Highlights Deepwater Cutbacks
Monday, February 08, 2016 Deepwater contracts drying up as Murphy, other E&Ps, opt out of expensive offshore drilling.
GE Oil Deal Offers New Model to Prevent BP-Like Crude Spills
Monday, February 08, 2016 General Electric Co. is expanding its focus on offshore drilling rig safety with a new business that will take over handling of massive underwater equipment designed to prevent well blowouts and oil spills.
Portugal's Galp Quarterly Net Profit Up 9%
Monday, February 08, 2016 Portuguese oil and gas firm Galp Energia posts a greater-than-expected 4Q profit of $166 million.
Diamond Offshore Profit Beats On Lower Costs; Div Scrapped
Monday, February 08, 2016 Diamond Offshore Drilling wings into a quarterly loss at it writes down the value of nine drilling units by nearly half-a-billion dollars.
BG Group's Earnings Drop
Friday, February 05, 2016 BG Group's upstream business posts earnings of $4.1 billion at the EBITDA level in 2015, marking a 35 percent decrease from 2014.
EU Clears Acquisition of Cameron by Schlumberger
Friday, February 05, 2016 The European Union clears the purchase of equipment maker Cameron International by Schlumberger, the world's No.1 oilfield services provider.

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