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Oil Services Firms Beat Expectations, Tough Times Loom
Thursday, August 27, 2015 Oil and gas service companies have fared better than expected in the first half of the year despite a weak market, thanks to deep-pocketed Middle Eastern customers and stringent cost cuts.
Oil Industry Needs to Find Half a Trillion Dollars to Survive
Thursday, August 27, 2015 At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it.
Global Energy Deals Now Surpass Dawn of Oil 'Supermajors' Era
Thursday, August 27, 2015 If there was any question over whether this year's oil crash would give rise to a new era of energy megadeals, there isn't anymore.
Oil Soars Over 10%, Biggest Gain in Six Years as Shorts Scramble
Thursday, August 27, 2015 Oil rockets up more than 10%, posts its biggest one-day rally in more than 6 years.
China Oil Giants Seek to Join Spree of Global Energy Deals
Thursday, August 27, 2015 PetroChina signaled it's looking to join a wave of global energy deals as crude's collapse makes it the right time to buy and sell assets.
SKD Sees Opportunities for Tender Assist Drillers in Low Oil Price Market
Thursday, August 27, 2015 SapuraKencana Drilling feels that the industry downtrend may open opportunities for tender assist drillers.
White House Says Keystone XL Pipeline Review Continues
Thursday, August 27, 2015 The White House says that the US State Department continues to review TransCanada's proposed Keystone XL pipeline from Canada's oil sands to Gulf Coast refineries.
Total Sells North Sea Gas Pipelines For $907M
Thursday, August 27, 2015 Total has agreed to sell some of its gas pipeline assets in the UK's North Sea to North Sea Midstream Partners for $907 million.
Blame Oil Glut on Investors Who Still Love Drilling Over Profits
Wednesday, August 26, 2015 Investors sent a surprising message to US shale producers as crude fell almost 20% in August: keep calm and drill on.
Brazil to Offer Deal with Firms Involved in Petrobras Scandal
Wednesday, August 26, 2015 Brazil will offer companies implicated in a massive corruption scandal at state-run Petroleo Brasileiro SA a deal that would include the payment of fines and compensation in exchange for doing business again with the oil producer, daily Folha de S.Pa
Third Houston Energy CFO in Less than One Week to Resign
Wednesday, August 26, 2015 Cobalt names new chief financial officer after former CFO resigns.
Oil Dips As Gasoline Build Offsets Big US Crude Draw
Wednesday, August 26, 2015 Oil prices fall almost 2% after a huge drawdown in US crude stockpiles was offset by a larger-than-expected build in gasoline and distillates.
NOV's Williams: Energy Industry Will Barrel On
Wednesday, August 26, 2015 National Oilwell Varco's CEO, Clay Williams, tells Rigzone that after enduring six downturns in his career, he's learned there's always an upside.
Venezuelan President Says Oil Basket Set to Fall to $30 or Less
Wednesday, August 26, 2015 President Nicolas Maduro says Venezuela's petroleum export basket is poised to fall to $30 per barrel or less, adding he was seeking to a deal with OPEC and Russia to stabilize prices.
Helicopter Operation Safety Review: Problems & Effectiveness
Wednesday, August 26, 2015 Rigzone looks at the Civil Aviation Authority's 2015 progress with its helicopter operation safety review.
NOV CEO: Leadership Optimism Is Key During a Downturn
Tuesday, August 25, 2015 NOV CEO Clay Williams talks with Rigzone about the work of leading an international company during a challenging marketplace and changing times.
Musings: Are We Entering The Capitulation Phase of Industry Cycle?
Tuesday, August 25, 2015 Oil price action during the past two weeks may be signaling that we are entering the "capitulation phase" of the oil industry cycle.
Encana to Sell Haynesville Nat Gas Assets for $850M
Tuesday, August 25, 2015 Encana reaches an agreement to sell its Haynesville natural gas assets, located in northern Louisiana.
Iran Says Will Reclaim Full Oil Market Share Post-Sanctions
Tuesday, August 25, 2015 Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on the OPEC member are lifted, according to the country's oil minister Bijan Zanganeh.
Oil Recovers But Still Ends Near 6-1/2-Year Lows
Tuesday, August 25, 2015 Oil rose as much as 3% as oversold conditions brought some buyers back to the market.
Without Saudi Support, Talk Of OPEC Emergency Meeting Is Just Noise
Tuesday, August 25, 2015 Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.
Oil at $77? It Is in This Country That Plays by Its Own Rules
Tuesday, August 25, 2015 South America's second-largest and most enigmatic economy, Argentina is marching to its own beat.
Out in the Real World, Oil Market Is Much Better Than It Looks
Tuesday, August 25, 2015 The global oil market is healthier than it looks, signaling that crude's plunge to six-year lows has probably gone too far.
Iran to Raise Oil Output 'at Any Cost' to Defend Market Share
Monday, August 24, 2015 Iran plans to raise oil production "at any cost" to defend the country’s market share and joins calls for an emergency OPEC meeting to help shore up crude prices.
Bullish Oil Bets Sink to 5-Year Low as Futures Flirt With $40
Monday, August 24, 2015 It's pretty lonely being an oil bull these days.
DW: Saudi Arabia Hit by Low Oil Prices, Faces Difficult Decisions
Monday, August 24, 2015 Douglas-Westwood says Saudi Arabia has been hit hard by low oil prices, leaving the kingdom to face a number of difficult decisions.
Oil Tumbles Up To 6% To New Lows As China Fears Intensify Rout
Monday, August 24, 2015 Oil's weeks-long slump accelerates sharply with prices tumbling as much as 6% to fresh 6-1/2-year lows.
Employment in Norwegian Oil, Gas Sector
Monday, August 24, 2015 Rigzone takes a look at employment developments in Norway during 2015, highlighting the reasons behind some of the largest cutbacks in the region and examining what hope there is for the area in the future.
Analysts: New Price Downfall Not Sustainable
Monday, August 24, 2015 With oil price decline lingering, analysts reevaluate forecasts for rig count and service companies.
Big Oil's Flight Draws US Risk Takers to Australian Shale
Friday, August 21, 2015 Aubrey McClendon, the wildcatter who pioneered the US shale revolution by going where big oil companies wouldn't, is at it again. This time in Australia.
Pressure Mounts to Retire Older Fleet as Rig Oversupply Persists
Friday, August 21, 2015 More old rigs may head for the scrapyard as oversupply persists, thanks to relatively weak drilling demand and addition of newbuilds to the global fleet.
Oil Poised for Longest Weekly Losing Streak Since 1986 Amid Glut
Friday, August 21, 2015 Oil heads for the longest run of weekly declines in almost three decades on signs the supply glut that drove prices to a six-year low will be prolonged.
Congress Likely to Repeal Oil Export Ban in 2016, Evercore Says
Friday, August 21, 2015 Legislation to repeal a 40-year ban on most domestic oil exports will probably become law in the first quarter of next year, according to analysts at Evercore ISI.
IoT Technology Aims to Optimize Production Chemical Optimization
Friday, August 21, 2015 Production chemicals remain a major cost for operators, particularly in a time of low oil prices.
Saudis Get That 1998 Feeling as Lower Oil Price Threatens Wealth
Friday, August 21, 2015 The oil price is near its lowest in more than a decade, cash reserves are being depleted, emerging markets are in turmoil and Saudi Arabia is beginning to panic.
Oil Ends Down More Than 2% as US Drilling Points to Glut
Friday, August 21, 2015 U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2% lower.
Oil Dives Below $40 Per Barrel After Rise in US Oil Rigs
Friday, August 21, 2015 US crude oil prices dive below $40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years.
Report: Most Canada Oil Sands Crude Produced At A Loss
Thursday, August 20, 2015 More than three-quarters of Canada's daily output crude from oil sands is produced at a loss at current prices, say analysts at TD Securities.
Analyst: Oil Prices Will Remain Lower for Longer
Thursday, August 20, 2015 Oil prices will remain lower for longer as market fundamentals cast a bearish outlook on the market, according to a Rigzone data team analyst.
Chinese Trading Rivalry Ruffles Asian Oil Markets
Thursday, August 20, 2015 Intensifying rivalry between top oil traders Chinaoil and Unipec whipsaws Asia's oil market, pits the state-owned firms against each other.
Goodrich Petroleum CFO Resigns
Thursday, August 20, 2015 Goodrich Petroleum's chief financial officer resigns to take a position with a private company.
Five 'Hot' Oil, Gas Safety Technologies
Thursday, August 20, 2015 From rig simulators to flameproof motors, Rigzone takes a look at five of the latest safety technologies for the upstream oil and gas industry.
Mexico’s Peso Leads World Losses as GDP Forecast Cut Amid Woes
Thursday, August 20, 2015 Mexico's peso leads losses among global major currencies, joins a rout in emerging markets.
Mexico Cuts Growth Forecast on Oil, US Industrial Production
Thursday, August 20, 2015 Mexico cuts its growth forecast for this year, a week after a similar move by the central bank.
Mexico Hedges 2016 Oil Exports at Average of $49 Per Barrel
Thursday, August 20, 2015 Mexican government hedges oil exports for next year at an average $49 a barrel, locking in protection against low crude prices, its Finance Ministry says.
A Wealth of Advice: Retirement Tips for Oil, Gas Workers
Thursday, August 20, 2015 Merrill Lynch financial expert Pat Wenzel offers retirement advice for oil and gas workers.
Brazil Lower House Chief Charged With Corruption by Prosecutors
Thursday, August 20, 2015 Brazilian public prosecutors press corruption charges against Chamber of Deputies chief Eduardo Cunha before the Supreme Court.
US September crude ends higher, Brent slumps
Thursday, August 20, 2015 Expiring US crude prices settled higher after slumping to fresh 6-1/2-year low; supply glut and concerns about China's economy pressure Brent crude.
US September Crude Ends Higher At Expiration, Brent Slumps
Thursday, August 20, 2015 Expiring US crude prices settle higher after slumping to fresh 6-1/2-year low; supply glut and concerns about China's economy pressure Brent crude.
Commodities Rout Erases $2T From Stock Values
Thursday, August 20, 2015 Commodity producers lose almost as much value in the past year as India’s entire economy, according to Bloomberg data.
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|Brent Crude Oil :||$47.56/BBL||10.24%|
|Light Crude Oil :||$42.56/BBL||10.25%|
|Natural Gas :||$2.63/MMBtu||2.23%|
|Updated in last 24 hours|