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Industry Headlines

Oil Traders Rush for Options to Protect Against Crude Gyrations
Tuesday, February 09, 2016 Oil traders scramble against price swings, send key index to its highest level since the worst of the global economic crisis in 2008.
As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis
Tuesday, February 09, 2016 As oil and gas companies cut deeper, boards adopt contrasting strategies to lead them out of the crisis.
Brent Oil Falls Most in 5 Months on Glut as Volatility Surges
Tuesday, February 09, 2016 Crude tumbles the most in five months in London as price volatility climbed to a seven-year high and Goldman Sachs warns of wider swings.
Anadarko Slashes Quarterly Dividend
Tuesday, February 09, 2016 Oil and gas company Anadarko Petroleum says it slashed its quarterly dividend to 5 cents per share.
Halliburton May Sell Baker Hughes' Offshore Fluids Unit
Tuesday, February 09, 2016 More than a year after announcing its takeover of rival Baker Hughes, Halliburton adds more assets to those it will sell.
Genel to Resume Oil Drilling in Iraqi Kurdistan
Tuesday, February 09, 2016 Genel Energy, one of a handful of foreign oil producers in Iraqi Kurdistan, to resume drilling at its Taq Taq oilfield in the coming weeks.
Mexico's Pena Nieto Axes Pemex CEO, Orders Cuts Amid Oil Slump
Tuesday, February 09, 2016 Mexican President Enrique Pena Nieto removes chief at state oil firm Pemex, replaces him with the country's social security chief.
Obama's $319 Billion Oil Tax Plan Raised to $10.25 a Barrel
Tuesday, February 09, 2016 President Barack Obama proposes budget to raise $319 billion during the next decade for transportation, other needs with a $10.25-per-barrel tax on crude.
Chesapeake's Half-Billion Dollar Tab Spurs Credit Line Concerns
Tuesday, February 09, 2016 Chesapeake Energy's ability to pay off a half-billion dollars in debt next month hinges on its cash and credit line.
C&J Energy Services Plans to Lay Off 78 Workers
Tuesday, February 09, 2016 C&J Energy Services plans to lay off dozens of employees at its Pleasanton facility.
Kemp: Saudi Reform Efforts Wax and Wane with Oil Revenues
Tuesday, February 09, 2016 Similar rhetoric employed in 1998 and 2016 is a reminder that efforts at political, social and economic reform in Saudi Arabia have waxed and waned with oil revenues, says Reuters analyst.

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Exploration

MEO Australia Commences Prospectivity Assessment of Cuba's Block 9
Tuesday, February 09, 2016 After receiving a "considerable" quantity of historical technical data, MEO Australia commences an assessment of the prospectivity of Cuba's Block 9.
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.

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Production

Sound Energy Confirms Clean-Up Operations at Nervesa
Tuesday, February 09, 2016 Sound Energy confirms that clean-up operations are continuing at its onshore Nervesa gas discovery after first gas was achieved earlier this month.
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.
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

Aibel Working on Johan Sverdrup Concept Study
Tuesday, February 09, 2016 Aibel is working on a concept study for the second phase of the Johan Sverdrup development.
Russia's Lukoil Says Proved Oil Reserves Down to 12.6B Barrels
Tuesday, February 09, 2016 Russia's number-two oil producer Lukoil says its proved oil reserves were 12.6 billion barrels at the end of 2015, down from 13.6 billion barrels at the end of 2014.
PA Resources Divests North Sea Assets
Tuesday, February 09, 2016 PA Resources AB signs an agreement to divest its portfolio of North Sea assets to Petrogas E&P.
Frontera Signs Upstream Cooperation MOU with UkrGasVydobuvannya
Tuesday, February 09, 2016 Frontera Resources Corporation signs an MOU for upstream cooperation with UkrGasVydobuvannya, a subsidiary of Ukraine's national energy company Naftogaz.
European Services Companies Secure Offshore Engineering Contracts
Tuesday, February 09, 2016 France's Technip and Scotland-headquartered Wood Group PSN secure offshore engineering contracts in the Gulf of Mexico and North Sea, respectively.
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.

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Brent Crude Oil : $30.32/BBL 10.50%
Light Crude Oil : $27.94/BBL 5.89%
Natural Gas : $2.09/MMBtu 2.33%
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