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Oil Major BP Freezes Pay In 2015 To Cut Costs
Monday, January 26, 2015 BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.
UK Parliament Group Calls for Shale Gas Fracking Moratorium
Monday, January 26, 2015 A group of British lawmakers call for a moratorium on shale gas fracking, saying developing the unconventional gas resources was incompatible with targets to fight climate change.
Argentina: Best Candidate for Next Shale Boom?
Monday, January 26, 2015 London-based research firm Visiongain argues that Argentina could turn out to be the best candidate for the next shale boom.
EarthStream Says Hiring Companies Gain from Decline in Oil Price
Monday, January 26, 2015 Falling oil price allows hiring firms to cope better with skilled shortages in the industry as more experienced candidates are available at reasonable salaries, an EarthStream executive says.
Oil Slides Despite OPEC Talk Of A Floor
Monday, January 26, 2015 Oil fall in see-saw trade, with US crude ending at its lowest in nearly 6 years, as traders discount comments from OPEC's top official about the market finally finding a bottom.
Russian 2015 Hydrocarbon Reserve Growth To Fall Below Forecast
Monday, January 26, 2015 Russia's proven hydrocarbon reserves will increase much less than previously expected in 2015, the Russian Environment Ministry says.
US Supreme Court Rejects BP Executive's Appeal
Monday, January 26, 2015 The US Supreme Court declines to hear an appeal by a former BP executive.
Wood Mac: US Onshore Well Count to Fall by 26% in 2015
Friday, January 23, 2015 Oil prices under $50/barrel will results in a decline in North American well counts and rig day rates as operators scale back 2015 spending plans.
BSEE to Investigate Damage to Unmanned Platform off Louisiana Coast
Friday, January 23, 2015 BSEE is sending investigators to investigate a damaged platform off the coast of Port Fourchon, Louisiana.
Brent Closes Up, US Crude Down After Saudi King Dies
Friday, January 23, 2015 Brent crude was buoyed by market uncertainty over the future of Saudi oil output, while US crude fell on more signs of oversupply.
Mexico Looks The Other Way As Contractors Fleece Oil Giant Pemex
Friday, January 23, 2015 A recent rig deal, a Reuters examination finds, is typical of the way Pemex and the government respond to widespread signs of fraud in the company's vast contracting budget: by looking the other way.
Saudi Oil Minister Naimi To Stay For Now, Policy Steady
Friday, January 23, 2015 Saudi Arabia's new King Salman was quick to keep veteran oil minister Ali al-Naimi in a message aimed at calming a jittery energy market mindful of Naimi's powerful role within OPEC.
Oil, Gas Salary Adjustments Amid Oil Price Decline
Friday, January 23, 2015 The downturn in crude oil prices is disproportionately affecting companies in the energy industry, prompting a variety of budget revisions that could affect workers' salaries.
SubseaIQ Hotspot Review: 2014 Notable Discoveries, Startups
Friday, January 23, 2015 With everyone focused on companies cutting budgets and announcing layoffs, SubseaIQ takes a break to look at some discoveries and production startups in 2014.
Apache Hires Former BP Executive Riney As CFO
Thursday, January 22, 2015 Apache names Stephen Riney, a former executive with BP, as its chief financial officer.
Oil Settles Lower After Large US Inventory Build
Thursday, January 22, 2015 Crude oil prices settle lower after a government report shows the biggest build in US crude inventory in at least 14 years.
Oil Majors Seek To Claw Back Costs From Service Firms
Thursday, January 22, 2015 Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house.
Gunvor: No Rebound To $100 Oil, Contango To Deepen
Thursday, January 22, 2015 Gunvor's head of analysis says crude was unlikely to return to $100 a barrel in the foreseeable future.
Saudi Brinksmanship: Economics Behind Reluctance to Fiddle with Oil Prices
Thursday, January 22, 2015 Much of the downward spiral in crude oil prices results from the maneuverings of Saudi Arabia, points out analyst Faraz Shams.
Top Tips: Applying for Your First Graduate Job in European Oil, Gas
Thursday, January 22, 2015 Rigzone talks to graduate recruiters at BP and OMV about their tips for university students applying for a graduate job in oil and gas.
OPEC, Oil Companies Clash At Davos Over Price Collapse
Wednesday, January 21, 2015 OPEC defends its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage.
Oman Oil Minister Slams OPEC Policy on Prices, Market Share
Wednesday, January 21, 2015 Oman oil minister Mohammad bin Hamad al-Rumhy sharply criticizes OPEC's production policy, saying it is creating volatility in the market without benefiting oil producers and that his country is suffering.
Minister: No Need For Petrobras Investment Cut Due To Corruption Probe
Wednesday, January 21, 2015 Petrobras does not need to curtail its multibillion-dollar investment plan because of a growing corruption scandal, Mines and Energy Minister Eduardo Braga tells Reuters.
Oil Up On Traders' Hope Investment Cuts Limit Supply
Wednesday, January 21, 2015 Global oil prices snap a 2-day decline and increase around 2% on hopes prices will recover as energy companies cut production investment.
Junior Oil Firms: Not All Doom and Gloom
Wednesday, January 21, 2015 As many junior energy companies suffer amid the oil price rout, Rigzone finds out which of the smaller oil and gas firms are best placed to weather the storm.
Kemp: Oil Producers' Under-Appreciated Role in US Economy
Wednesday, January 21, 2015 The states at the heart of the American shale oil revolution all grew faster than the US national average over the last decade, underscoring the importance of oil production to the US economy.
BP Asks For Lower Fine In Penalty Phase Of Gulf Spill Trial
Tuesday, January 20, 2015 BP tries to whittle away at $13.7B in potential fines under the Clean Water Act as the penalty phase starts in its trial over the 2010 Gulf of Mexico oil spill.
Apache CEO Steve Farris Retires
Tuesday, January 20, 2015 Apache announces the retirement of Chief Executive Steve Farris and names John Christmann, chief operating officer of North America, as his replacement.
Norway Moves Arctic Ice Edge North, Oil Firms On Alert
Tuesday, January 20, 2015 Norway's energy ministry launches an Arctic-focused oil and gas licensing round.
Oil Falls Again As IMF Cuts Forecast; Iran Hints At $25 Oil
Tuesday, January 20, 2015 Oil fell as much as 5% after the International Monetary Fund cut its 2015 global economic forecast and Iran hinted prices could drop to $25 a barrel.
Talisman Sinopec Energy UK To Cut 300 Jobs
Tuesday, January 20, 2015 Talisman Sinopec Energy UK says it would cut 300 jobs due to falling production levels and rising operating costs hurt by low oil prices.
Australia Prepares for Growing Challenges as Market Environment Evolves
Tuesday, January 20, 2015 With Australia's oil and gas industry now at a crossroad, Rigzone talks to several industry experts to gauge their reaction to the emerging market conditions.
Mexico's Pemex Says Savings Will Total $1.45B By 2018
Monday, January 19, 2015 Pemex, grappling to stem an output slide amid crashing prices, says it expects to save more than $1.45 billion by consolidating the procurement process by 2018.
Douglas Westwood: 'Offshore Drilling Contractors Facing Uncertainty'
Monday, January 19, 2015 Douglas-Westwood comments on offshore drilling contractors facing uncertainties in its latest edition of DW Monday.
Oil Slips $1 On China Economy Worries, Record Iraq Output
Monday, January 19, 2015 Brent crude oil prices fall below $49 a barrel and US crude also falls more than $1.
China's Yards Brace for Leaner Times as Oil Slump Sours Rig Building Spree
Monday, January 19, 2015 For China's shipyards, the oil rig market that was supposed to be a blessing is in danger of becoming a curse.
Keppel Sees Shallow-Water Projects Supporting Rig Demand amid Lower Prices
Monday, January 19, 2015 Keppel believes oil production in shallow-water basins will support rig demand, but revenue diversification is key to ride out the low oil price environment.
Iran Sees No OPEC Shift Toward A Cut, Says Oil Industry Could Withstand $25
Monday, January 19, 2015 Iran sees no sign of a shift within OPEC towards action to support oil prices, its oil minister says, adding its oil industry could ride out a further price slump to $25 a barrel.
Tugboat Undergoing Sea Trails Near China's Jingjiang Sinks, Kills 21
Monday, January 19, 2015 A newbuild tugboat sinks while undergoing sea trails near Jingjiang, China, killing 21, including eight foreigners - three of whom were employees of a Sembcorp Marine subsidiary.
Amid US Oil Price Crash, Cost Cutting Ripples Through Industry
Friday, January 16, 2015 Any lingering doubt about the depth of the crisis facing the US energy industry is quickly evaporating.
BP's Fine for Gulf of Mexico Spill Capped by Ruling
Friday, January 16, 2015 BP faces a maximum fine of $13.7 billion under the Clean Water Act for its Gulf of Mexico oil spill thanks to a judicial ruling.
Mexico Has Stamina to Maintain Energy Reform
Friday, January 16, 2015 Mexico is committed to energy reform, but will need to show more flexibility in the bidding terms proposed for Round One, a Mexico policy expert reports.
Globo: Brazil Energy Minister Says Petrobras CEO to Keep Her Job
Friday, January 16, 2015 Maria das Gracas Foster will keep her job as CEO of Petrobras despite calls for her resignation after a corruption scandal at the state oil company, Brazil's Energy Minister Eduardo Braga says.
Canada's Oliver Says Economy In 'Pretty Good' Shape Despite Oil
Friday, January 16, 2015 Canadians should not be "unduly pessimistic" about the economic impact of the recent slide in oil prices, Finance Minister Joe Oliver says.
Rig Trends: Gulf of Mexico Jackup Market Showing Effects of Slowdown
Friday, January 16, 2015 Low oil prices are wreaking havoc for the worldwide offshore rig fleet and the Gulf of Mexico jackup market is no exception.
Oil Closes Up For First Week In Eight After Supportive Reports
Friday, January 16, 2015 US crude oil prices staunched seven weeks of losses rising 33 cents on the week as it rallied just before settlement.
Wood Mackenzie: Operators Could See up to 40% in Cost Reductions
Friday, January 16, 2015 Wood Mackenzie lists 15 things to watch for in North America's upstream sector in 2015.
Oil Settles Down Despite Promising Mid-Day Rally
Thursday, January 15, 2015 Oil prices decline as an erratic dollar and expectations of weakening demand dashes hopes that a strong rally Wednesday might have signaled a bottom to the 7-month price rout.
Norway Oil Spending, Output to Fall on Low Crude Prices
Thursday, January 15, 2015 Norwegian energy investments are set to tumble this year, exacerbating a drop in oil production.
Mexico Says Oil Slump Could Delay Some Tenders, Hit Public Spending
Thursday, January 15, 2015 Mexico says that the tenders for the exploration and production of shale and other more expensive oil and gas deposits could happen later than planned due to the slump in oil prices.
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