Industry Headlines

Halliburton Joins Schlumberger in Cutting Venezuelan Activity
Friday, May 06, 2016 Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry?s worst financial crisis.
Rigzone Polls: Readers Veer Toward Conservative Platform, Support Trump
Friday, May 06, 2016 Rigzone readers tended toward the conservative side of responses in a recent series of political polls related to the oil and gas industry we posted on Twitter during the first week of May.
US Jobs Report: Mining Down 7,000 in April
Friday, May 06, 2016 Jobs in mining continue their decline for the month of April.
SNP Wins Scottish Election, Pledges Support to Oil, Gas Industry
Friday, May 06, 2016 The Scottish National Party wins the Scottish general election after pledging to support the oil and gas industry.
Nigerian Oil Output Plunges to 20-Year Low as Attacks Escalate
Friday, May 06, 2016 Nigeria is suffering a worsening bout of oil disruption that has pushed production to the lowest in 20 years, as attacks against facilities in the energy-rich but impoverished nation increase in number and audacity.
India, Iran Agree to Clear $6.4B in Oil Payments Via European Banks
Friday, May 06, 2016 The central banks of India and Iran reach an arrangement to use European banks to process pending oil payments to Tehran, India's Oil Minister Dharmendra Pradhan told Reuters, unlocking $6.4 billion in stalled funds.
OTC 2016 Slideshow Highlights Offshore Work
Thursday, May 05, 2016 The OTC 2016 in Houston gave the offshore industry a much-needed boost to its confidence.
Apache's Surprise Savings Signal US Drillers Not Done With Cuts
Thursday, May 05, 2016 Apache's cost savings in the first three months of 2016 exceeded its own expectations and are likely to continue even if oilfield services costs rise, executives of the Houston-based oil and gas producer say.
Oil Up as Fire Curbs Canada Output; Higher Dollar, Stockpiles Cap Gains
Thursday, May 05, 2016 Oil prices surge after a raging wildfire near Canada's oil sands region curbed output that mainly flows to the United States, before settling off their highs as a rebounding dollar and a huge US stockpile build cut into gains.
OTC 2016: Shaker Technology 'Shaking Up' Production Worldwide
Thursday, May 05, 2016 Rigzone catches up at the Offshore Technology Conference with Cubility.
OTC 2016: A Tour of Technologies on Display
Thursday, May 05, 2016 Rigzone offers a look at some of the technologies seen on the exhibition floor of the 2016 Offshore Technology Conference.



Primeline Enters into Phase 2 Exploration of Block 33/07 in East China Sea
Thursday, May 05, 2016 Primeline Energy enters into the second phase of its exploration commitment for Block 33/07 in East China Sea.
SKK Migas Extends Exploration Period for East Kalimantan's Mahakam PSC
Wednesday, May 04, 2016 Indonesia's upstream regulator SKK Migas extends the exploration period for the Mahakam Production Sharing Contract in Kutai Basin, East Kalimantan to May 2020.
Finder Sells Entire Acreage Holding Off WA to Quadrant Energy Australia
Tuesday, May 03, 2016 Finder Exploration sells its entire acreage holding in the Bedout Sub-basin off Western Australia to Quadrant Oil Australia.
Great Australian Bight May Generate $765M in N/T Exploration Spending
Friday, April 29, 2016 Australia's APPEA says the industry may spend more than $765 million on near-term exploration work if current plans to develop the Great Australian Bight resources were approved.
Cambodia Terminates Petroleum Agreement for CPHL-Held Offshore Block D
Friday, April 29, 2016 Cambodia's Ministry of Mines and Energy terminates the petroleum agreement of offshore Block D held by Mirach Energy's associate firm CPHL.
OTC 2016: Egypt to Offer Blocks, Zhor Project Creates 5,000 Jobs
Tuesday, May 03, 2016 Egypt plans to offer 28 blocks for bidding by foreign oil and gas companies in the coming weeks, the Minister for Petroleum and Mineral Resources says.



AWE Sells 42.5% in Indonesia's Bulu PSC to HyOil for $20.5M
Thursday, May 05, 2016 AWE inks agreement to sell its 42.5 percent stake in the Bulu Production Sharing Contract offshore East Java, Indonesia to a unit of HyOil for $20.5 million.
OTC 2016: Guyana's Investment Appeal Gets a Boost from Liza Oil Discovery
Thursday, May 05, 2016 Investment in Guyana's oil and gas sector gets a boost from the offshore Liza discovery.
Russian April Oil Output Edges Down To 10.86 Million Bpd
Friday, April 29, 2016 Russian oil production edged lower in April to 10.86 million barrels per day from a record 10.91 million in March.
Ophir Ends Talks with Schlumberger over Fortuna LNG Project
Friday, April 29, 2016 Ophir Energy has ended talks with Schlumberger over the Fortuna LNG project, after the parties hit stumbling block on terms agreed in January.
PETRONAS Canada LNG Project Chief Sees Investment Decision In Months
Friday, April 29, 2016 PETRONAS and its partners hope to make a final decision within months on whether to build what could be Canada's first liquefied natural gas export project, though further delays to the environmental review could push that timeline back.
OTC 2016: Cambodia Decision on First Oilfield Development by Year End
Monday, May 02, 2016 Cambodia expects a decision to develop the country's first oilfield at Block A by year end, a senior government official says.


Finance and Investing

What Are The Top 5 Freebies at OTC?
Tuesday, May 03, 2016 Rigzone takes a look at the best swag offered at OTC 2016.
Eni Makes Progress on $8B Asset Sales Goal
Friday, April 29, 2016 Eni is on track to sell assets worth 5 billion euros in the next two years as the oil major looks for resources to fund high-profile projects in Egypt and Mozambique and offset the impact of lower oil prices.
Russia's Yamal LNG Signs $12B Of Loan Deals With Chinese Banks
Friday, April 29, 2016 Russia's Novatek-led Yamal LNG signs loan agreements with Chinese banks worth $10.6 billion and $1.5 billion, Yamal LNG says.
Eland to Raise Funds for Gbetiokun-1 Well in Nigeria
Friday, April 29, 2016 Eland Oil & Gas plc aims to raise approximately $15 million through a placing of its shares in order to fund operations at the Gbetiokun-1 well in Nigeria.
CNOOC's 1Q 2016 Revenue Falls to $3.8B, Down 30.7% YOY
Friday, April 29, 2016 CNOOC's revenue falls to $3.8 billion in the first quarter of 2016, down 30.7 percent from last year as low oil prices continue to weigh on the firm's turnover.
OTC 2016 Video: Employment Trends Show Resilience in Oil, Gas Sector
Monday, May 02, 2016 Petroplan's US regional Director Huw Rothwell discusses employment trends and opportunities in North America's oil and gas sector.


Company Operations

Baker Hughes: US Oil Drillers Cut Rigs for 7th Week to Oct 2009 Lows
Friday, May 06, 2016 US oil drillers cut rigs for a seventh week in a row to the lowest level since October 2009, oil services company Baker Hughes said Friday, although as analysts see an end to the nearly two-year slump in drilling for new wells.
Malaysia O&G Services Firms Seek New Markets Overseas
Wednesday, May 04, 2016 Malaysia's oil and gas services and manufacturing firms look overseas for business as domestic market contracts.
Keppel O&M Completes Acquisition of Cameron's Offshore Product Division
Tuesday, May 03, 2016 Keppel Offshore & Marine completes acquisition of Cameron's offshore product division.
Fugro to Cut 600 Employees in 'Coming Quarters'
Friday, April 29, 2016 Fugro will reduce its headcount by around 600 employees in "the coming quarters" as it continues to adjust its cost base and capacity to "the market reality".
Premier Completes E.ON North Sea Asset Acquisition
Friday, April 29, 2016 Premier Oil plc completes the acquisition of UK North Sea assets from E.ON.
Eni Swings To Net Loss But Operating Profit Beats Expectations
Friday, April 29, 2016 Eni beats operating profit expectations in 1Q despite swinging to a net loss because of weak oil prices and a charge on its Saipem holding.
ConocoPhillips Tables Asset Sales As Rout Worsens Buyer's Market
Friday, April 29, 2016 ConocoPhillips is pulling some of its assets off the market as a prolonged industry downturn makes it harder to get the desired prices.



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