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Industry Headlines

2017 Offshore Spending Plan To Rival Shale Investment, Report Says
Monday, February 20, 2017 Investment in both offshore projects and US shale plays is expected to total about $70 billion in planned capital spending, according to a new Rystad Energy report.
Trump's Defense Chief Tells Iraq: We're Not Here For Your Oil
Monday, February 20, 2017 The U.S. military is not in Iraq "to seize anybody's oil", Defense Secretary Jim Mattis says.
Watchdog: Cost Cuts Appear To Harm Norway Oil Industry Safety
Monday, February 20, 2017 Cost cuts by Norway's oil and gas industry appear to have contributed to a rise in accidents in recent years, the head of the country's PSA says.
Abu Dhabi Awards China's CEFC 4% Of Oil Concession For $900MM
Monday, February 20, 2017 Abu Dhabi awards the final 4% interest in its onshore oil concession.
Unite Calls on Members to Back Motion Supporting Public Offshore Investment
Monday, February 20, 2017 Unite calls on its members to support a motion, scheduled for debate in Scottish Parliament Feb. 23, which outlines that the UK offshore oil and gas industry needs public investment to secure its future.
GOP's Tax Reform Plan Brings Uncertainty to Oil, Gas
Monday, February 20, 2017 US corporate tax reform plan for a tariff on imports, but not exports, could boost income for domestic producers, but it might also pump up gasoline prices and raise refiners' costs.
Shell Shakes Up Oil Trading World With Brash Buying Sprees
Monday, February 20, 2017 Unusual moves in trading have damaged confidence so much that some traders retreated from the market.
Oil Rises, But Swelling US Output Caps Rally
Monday, February 20, 2017 Oil prices inched higher, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained rally.

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Exploration

Study Gives New Hope for Rockall Area Exploration
Monday, February 20, 2017 A geological analysis of the Rockall area of the North Atlantic reveals previously unknown insights that could lead to new oil and gas discoveries in the UK Continental Shelf (UKCS).
Russia's Rosneft Starts Drilling First Exploration Well In Iraq
Monday, February 20, 2017 Rosneft starts drilling an exploration well at Block 12 in Iraq.
Total Drilling Deeper at Antelope-7 Appraisal Well
Monday, February 20, 2017 Total is drilling ahead to explore a deeper exploration target at the Antelope-7 side track appraisal well, after reaching 7,818 feet without any evidence of intersecting the Antelope reservoir.
Russia's Rosneft Starts Drilling First Exploration Well In Amazon
Thursday, February 16, 2017 Russian state oil firm Rosneft starts drilling its first exploration well in Brazil's Solimoes Basin.
India Awards 31 Oil And Gas Blocks
Wednesday, February 15, 2017 India approves the award of operating licenses for 31 small oil and gas fields.
Pennine Petroleum Signs Velca Block PSA
Wednesday, February 15, 2017 Albania and Canada focused Pennine Petroleum Corporation signs a Production Sharing Agreement (PSA) with Albpetrol Sh.A for the exploration and development of the Velca Block in Albania.

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Production

Lekoil Aims to Ramp Up Otakikpo Output to 10,000 BOPD by 2Q
Monday, February 20, 2017 Africa-focused oil and gas company Lekoil aims to ramp up production from the Otakikpo Marginal Field, located in Nigeria's OML 11, to 10,000 barrels of oil per day by the end of 2Q.
Bombing Halts Pumping On Colombia's Cano-Limon Oil Pipeline
Monday, February 20, 2017 Pumping operations along Colombia's second-most important oil pipeline, the Cano-Limon Covenas, were halted due to a bomb attack.
Iraq's Oil Reserves Increase To 153 Billion Barrels, Oil Minister Says
Monday, February 20, 2017 Iraq's oil reserves increase to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi says.
Global LNG Demand Set to Rise to 2030
Monday, February 20, 2017 Global demand for liquefied natural gas (LNG), which reached 265 million tons in 2016, is set to grow to 2030, according to a new LNG Outlook report by Royal Dutch Shell plc.
Fluor to Support FEED for Woodfibre Project Near Vancouver
Friday, February 17, 2017 Fluor signs a subcontract with JGC America to provide construction-related support to the FEED services for the Woodfibre LNG project.
Iraq Plans To Acquire 'Large Fleet' Of Oil Tankers
Friday, February 17, 2017 Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi says.

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Finance and Investing

UAE's Dana Gas Revises 2016 Results Down To Net Loss Of $88 Million
Monday, February 20, 2017 Dana Gas revised down its unaudited preliminary results for 2016 to a net loss of $88 million, from the net profit of $33 million which it had previously reported.
FTC Approves Enbridge Deal To Buy Spectra With Conditions
Thursday, February 16, 2017 Enbridge and Spectra Energy have won US antitrust approval for a $28B merger that will create the largest North American energy infrastructure company.
OMV Raises Dividend By 20% As Cash Pile Grows
Thursday, February 16, 2017 Austrian oil and gas group OMV raises its dividend by 20% as free cash flow turned positive last year.
Cenovus Energy Swings To Profit As Production Rises
Thursday, February 16, 2017 Canadian oil company Cenovus Energy Inc swings to a quarterly profit, as production rises and costs fall.
Noble Group Shares Jump 17% After Confirming Talks On Potential Investment
Tuesday, February 14, 2017 Shares in Noble Group Ltd leapt as much as 17% after the commodities trader confirmed it was holding talks on a possible strategic investment in the firm.
Devon Energy Beats Profit Estimates As Cost Cuts Pay Off
Tuesday, February 14, 2017 Devon Energy reports a bigger-than-expected quarterly profit, as the US oil producer benefited from its cost-cutting initiatives.

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Company Operations

S. Korea's SK Energy Buys Russian Urals Crude For First Time In 10 Years
Friday, February 17, 2017 SK Energy has bought Russian Urals crude for the first time in 10 years, a spokeswoman for the parent company of South Korea's top refiner says.
Polish Govt Not Working On Lotos-PKN Merger
Friday, February 17, 2017 The Polish government is not working on a potential merger between the state-run oil companies Grupa Lotos and PKN Orlen.
Santos Sees Caldita-Barossa Gas Investment Decision In Late 2018
Friday, February 17, 2017 Santos Ltd says partners in the Caldita-Barossa gas fields off northern Australia aim to make a final investment decision in the next 2 years on whether to develop the project.
Encana Boosts Capital Spending By 50% Amid Oil Recovery
Thursday, February 16, 2017 Encana reports a better-than-expected quarterly operating profit, helped by a cash tax recovery.
Wood Group Appoints New European President
Thursday, February 16, 2017 John Wood Group plc appoints Alan Johnstone as the president of its Asset Life Cycle Solutions business in Europe.
Gazprom, CNPC Broaden Strategic Energy Cooperation
Thursday, February 16, 2017 Russia's Gazprom agrees to broaden its strategic cooperation in the energy sector with China's CNPC.

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Policy

Trump and US Nuclear Power Find Common Ground in Jobs Push
Tuesday, February 07, 2017 Nuclear power providers, battered by low prices and competition from cheap natural gas, say they can help President Donald Trump fulfill a campaign promise to put more people to work.
US Oil, Gas Prices Seen Falling With Trump 'Energy Revolution'
Monday, February 06, 2017 President Trump's vow to "unleash an energy revolution" by reversing regulations may send oil and natural gas prices tumbling in 2018, according to Bank of America Merrill Lynch.
Take Time Selling Canada to Trump, Departing Envoy Tells Trudeau
Monday, January 16, 2017 President Barack Obama's outgoing envoy to Canada has some guidance for Prime Minister Justin Trudeau in dealing with the new Trump administration: Don't assume anything.
Saudis See No Need to Extend OPEC Deal Beyond Six Months
Monday, January 16, 2017 OPEC probably won't need to extend a deal it reached with other crude producers to cut output, says Saudi Energy Minister Khalid Al-Falih.
Argentina Clinches Deal to Attract Investment in Vaca Muerta Shale
Wednesday, January 11, 2017 Argentina clinches deal with labor unions and energy companies aimed at luring investors to the Vaca Muerta shale formation in Patagonia, the government says.
Cuba, United States Sign Oil Spill Deal Before Trump Inauguration
Monday, January 09, 2017 Cuba and the United States agreed to jointly prevent, contain and clean up oil and other toxic spills in the Gulf of Mexico.

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