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Industry Headlines

Libya Oil Ports' Re-Opening Delayed Due to Row Over Payments
Monday, July 25, 2016 Two of Libya's biggest oil ports may not re-open soon as the hardening positions of rival factions pose a fresh challenge to international efforts to reunite the country and restore its crude exports.
Shell to Cut 25% of Deepwater GoM Workforce
Monday, July 25, 2016 Shell will cut hundreds of jobs in its deepwater Gulf of Mexico operations.
Oil Tumbles to Three-Month Low as US Drilling Climbs Amid Glut
Monday, July 25, 2016 Oil fell to the lowest in three months in New York after US producers increased drilling for a fourth week even as the market contends with abundant stockpiles.
Husky Oil Spill Hits Water Supply of Second Canadian City
Monday, July 25, 2016 An oil leak from a Husky Energy Inc pipeline into a major Canadian river has forced a second city in the province of Saskatchewan to stop drawing drinking water, officials said on Monday, widening the impact and cost of the spill.
Canadian Oil Spill from Husky Pipeline Reaches Saskatchewan City
Monday, July 25, 2016 An oil spill by Husky Energy into a major Canadian river reaches the city of Prince Albert, Saskatchewan on Monday, hours earlier than expected.
Libyan Deal to End Oil Ports Blockade Still Needs Signing
Monday, July 25, 2016 Libyan Petroleum Facilities Guard commander Ibrahim Jathran says he is ready to end a blockade at key oil terminals, but the UN-backed government still needs to sign an agreement for exports to resume.
Wood Group CEO: Disappointed by Strike Action, Respects Employees' Choice
Monday, July 25, 2016 Wood Group workers on Shell platforms are expected to go forward with their strike over pay and working conditions.
BLOG:"It's Cyclical" and Other Worn Out Industry Phrases
Monday, July 25, 2016 No matter how spot-on they may be, there are just some phrases people won't mind not hearing once the industry fully recovers from the downturn.
Officials: At Least 40% of Canada Oil Spill Recovered
Monday, July 25, 2016 Authorities say they have recovered at least 40 percent of the 1,572 barrels of oil that leaked into a major western Canadian river, but the spill is still moving downstream.
Niger Delta Avengers Attack another Pipeline
Monday, July 25, 2016 Nigerian militant group the Niger Delta Avengers claim to have blown up another pipeline, this time at Nsit-Ibom L.G.A. in Nigeria's Akwa Ibom state.
Statoil Seeks Standardization to Optimize Offshore Operations
Monday, July 25, 2016 Statoil's recent agreement with AspenTech illustrates the overall industry trend towards optimizing operations through standardization.

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Exploration

Falcon O&G Provides Update on Drilling Ops in Beetaloo Basin in Australia
Tuesday, July 26, 2016 Falcon Oil & Gas provides update on drilling operations in the Beetaloo Basin in Australia's Northern Territory.
PETRONAS Awards SK410B PSC Offshore Malaysia to PTTEP-led JV
Friday, July 22, 2016 PETRONAS awards the SK410B Production Sharing Contract offshore Malaysia to a joint venture comprising Thailand's PTTEP, KUFPEC and PETRONAS Cargali.
PGS: Improving Sentiment in Offshore Seismic Market
Thursday, July 21, 2016 Norwegian seismic explorer Petroleum Geo-Services says it is beginning to see early signs that its market is stabilizing.
Indonesia Invites Bids for 14 Conventional Oil & Gas Blocks
Thursday, July 21, 2016 Indonesia's Ministry of Energy and Mineral Resources issues invitation for energy companies to bid for 14 conventional oil and gas blocks.
Sonardyne Wins Magseis' Deal to Supply Acoustics for Saudi Aramco Project
Wednesday, July 20, 2016 Sonardyne International wins contract from Magseis to supply acoustics for Saudi Aramco's S78 Project in the Red Sea.
KrisEnergy Commences 3D Seismic Survey in Block G10/48 ibn Gulf of Thailand
Tuesday, July 19, 2016 KrisEnergy commences 3D seismic survey with the CGG Amadeus in Block G10/48 in the Gulf of Thailand.

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Production

Expro Wins $17M Well Testing Contract from India's ONGC
Tuesday, July 26, 2016 Expro wins a $17 million well testing contract from Oil and Natural Gas Corp. Ltd. (ONGC) for work on its upstream assets in India.
Shell: No Production Impact from North Sea Strikes Set for Tuesday
Monday, July 25, 2016 A planned walkout by around 400 Wood Group oil and gas maintenance workers employed at Shell's North Sea platforms on Tuesday is not expected to interrupt production from the facilities, operator Shell says.
Schlumberger Sees Oil Supply Deficit if Demand Growth Holds
Friday, July 22, 2016 Schlumberger, the world's No. 1 oilfield services provider, says it expects a "significant global supply deficit" of crude oil, given the sharp decline in spending on exploration and production.
Ithaca Says Stella Production Facility Undergoing Sea Trials
Friday, July 22, 2016 The FPF-1 floating production facility, which is destined for the Stella field in the central North Sea, has left the Gdansk shipyard and is now undertaking final marine system trials.
Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition
Friday, July 22, 2016 Poland's antimonopoly watchdog a proposed joint venture by Russia's Gazprom and five European firms responsible for the construction of Nord Stream 2 would undermine competition.
Total Signs Agreement to Supply LNG to Japan's Chugoku Electric
Friday, July 22, 2016 Total signs agreement to supply liquefied natural gas to Japan's Chugoku Electric for 17 years beginning in 2019.
LTHE-ECS JV Bags $1.6B EPCI Deal from Saudi Aramco for Hasbah Gas Project
Friday, July 22, 2016 India's LHTE and EMAS Chiyoda Subsea bags a $1.6 billion engineering, procurement, construction and installation (EPCI) contract from Saudi Aramco for phase two development of the Hasbah gas field offshore Saudi Arabia.

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Finance and Investing

Kemp: Hedge Funds in New Cycle of Oil Short-Selling
Monday, July 25, 2016 Hedge funds have been liquidating their former record bullish position in crude futures and options, putting downward pressure on oil prices in recent weeks.
Oil Drops to Two-Month Low Amid Ample US Supply, Rising Dollar
Friday, July 22, 2016 Oil dropped to the lowest close in more than two months as the US heads to the end of the summer-driving season with ample inventories.
Australia's Santos Post 2Q 2016 Sales Revenue of $590M, Down 3% YOY
Friday, July 22, 2016 Australia's Santos sales revenue fell to $590 million in the second half of 2016, down 3 percent from last year's $611 million.
Exxon to Buy Gas Explorer InterOil for Up to $3.6 Billion
Thursday, July 21, 2016 Exxon Mobil agrees to buy natural gas explorer InterOil for as much as $3.6 billion to acquire discoveries in Papua New Guinea that will feed the buyer's existing gas-export plant.
Woodside Q2 Revenue Falls 8% On Weaker Oil Prices
Thursday, July 21, 2016 Woodside reported a 10 percent rise in oil and gas output in the June quarter, while revenue fell 8 percent due to weaker oil prices, but says it expects third quarter revenue to improve.
Oil Search Won't Counter Exxon Bid For Gas Explorer InterOil
Thursday, July 21, 2016 Oil Search declines to submit a counteroffer for Papua New Guinea-focused gas explorer InterOil, leaving Exxon Mobil Corp. to wait and see if Total will challenge its bid alone.

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Company Operations

Malaysia's SapuraKencana Secures $113M Contract for a Mexican Assignment
Tuesday, July 26, 2016 Malaysia's SapuraKencana Petroleum secures a $113 million contract from Mexico's Pemex Exploracion y Produccion.
Police Probe into JKX Subsidiary Continues
Monday, July 25, 2016 JKX Oil & Gas says that a local police investigation into its Ukrainian subsidiary is continuing.
Kremlin: There is 'Understanding' Rosneft Should Not Buy Stake in Bashneft
Friday, July 22, 2016 Kremlin says that there is an 'understanding' in the Russian government that state-owned oil firm Rosneft should not take part in the privatisation of rival Bashneft.
Husky Energy Posts Loss as Production Falls
Friday, July 22, 2016 Canada's Husky Energy reports a second-quarter loss as production falls due to planned maintenance and the Fort McMurray wildfire in Alberta.
Keppel Sees Prolonged Dearth Of Oil-Rig Orders Amid Glut
Friday, July 22, 2016 Keppel Corp., the world's largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that's caused quarterly profit to fall to the lowest in almost a decade.
NauticAWT, ENRA Sets Up JV to Tap Business Opportunities in Malaysia
Friday, July 22, 2016 NautiAWT forms a joint venture, ENRA NauticAWT, with ENRA Oil and Gas Services to tap business opportunities in Malaysia.
Leading Procedural Compliance with a Checklist Culture
Friday, July 22, 2016 As the oilfield nears the "Great Crew Change," it is clear that industry leaders will have to make smart and strategic choices going forward.

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Policy

Russian Oil Industry Close to Major Taxation Overhaul
Monday, July 25, 2016 Russia is planning to overhaul its oil industry tax, introducing a profit-based system designed to boost government revenue and lift output from 2018.
Under May's New Government, a UK Gas Fracking Push Is Probable
Monday, July 25, 2016 As Theresa May's new government prepares to take the UK out of the European Union, it's likely to promote one technology shunned by most nations on the mainland - fracking.
Offshore Gulf of Mexico Auction to Go Live on the Internet
Friday, July 22, 2016 Final sale of western Gulf of Mexico offshore acreage from five-year program will feature real time access to the public.

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