Industry Headlines

Kemp: OPEC Risks Pyrrhic Victory With Oil Policy
Monday, November 30, 2015 As ministers from the Organization of the Petroleum Exporting Countries meet in Vienna, some may wonder if the strategy of maintaining output to defend market share risks securing a Pyrrhic victory.
Wind, Solar Power to Supply More Energy Than Shale, Goldman Says
Monday, November 30, 2015 New wind turbines and solar panels worldwide will provide more energy over the next five years than U.S. shale-oil production has over the past five, according to Goldman Sachs Group Inc.
Petrobras Dream Team Splits on Divergent Approach to Turnaround
Monday, November 30, 2015 This was the year Petroleo Brasileiro SA investors got what they had sought for decades: a chief executive with a mission to streamline and an independent chairman. Now one of them is gone.
Iran Gives Investors Glimpse of $30 Billion in Oil Deals
Monday, November 30, 2015 Iran is targeting about $30 billion in investment by offering 70 oil and natural gas projects to international companies as the Persian Gulf country anticipates the lifting of economic sanctions.
Quiet Gulf Hurricane Season End Leaves Oil Drowned in Oversupply
Monday, November 30, 2015 Oil bulls can say farewell to another quiet Atlantic hurricane season in the Gulf of Mexico, which ends without a storm-induced price rise to lift crude from its once-in-a-generation slump.
OPEC Rivals Become Unwitting Allies in Push for Oil-Market Share
Monday, November 30, 2015 Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team.
IEA Sees India's Oil Demand Rising to 10 MMbopd by 2040
Monday, November 30, 2015 India's oil consumption is set to reach 10 million barrels per day by 2040 due to strong growth in domestic energy demand, the International Energy Agency says in a report.
Oil Ends Down, Reversing Rally, as OPEC Output Seen Rising
Monday, November 30, 2015 Crude oil falls, reversing an early rally after a survey estimated higher OPEC output in November, while a stronger dollar weighed on demand for commodities priced in the currency.
Kuwait Names New Acting Oil Minister; Policy Change Not Expected
Monday, November 30, 2015 Kuwait appoints Anas al-Saleh as acting oil minister in addition to his roles as finance minister and deputy prime minister, state news agency KUNA reported.



NPD Grants Lundin Drilling Permit for Well 16/4-10
Monday, November 30, 2015 The Norwegian Petroleum Directorate grants Lundin Norway AS a drilling permit for well 16/4-10, located in production license 544 offshore Norway.
88 Energy Expects Icewine #1 Drilling to Remain in Budget Despite Delays
Friday, November 27, 2015 88 Energy Limited expects its drilling operations at the Icewine #1 exploration well, located onshore Alaska, to remain within budget despite delays related to equipment repair.
Senegal JV Partners Receive 3-Year PSC Extension
Friday, November 27, 2015 FAR Ltd, along with its joint venture partners, receives a presidential decree to extend a current Petroleum Sharing Contract (PSC) in Senegal by three years, starting from February 6, 2016.
PEPANZ Highlights Key Themes for 2016 New Zealand Petroleum Conference
Friday, November 27, 2015 The Petroleum Exploration & Production Association of New Zealand highlights two key themes of the 2016 New Zealand Petroleum Conference.
Nighthawk Energy: No Commercial Finds at Northstar 1-14 Well
Thursday, November 26, 2015 Nighthawk Energy plc announces that the Northstar 1-14 well is being plugged and abandoned after failing to encounter a commercial find.
Lundin Drills Dry Well in Block PM308A Offshore Malaysia
Thursday, November 26, 2015 Lundin Petroleum completes the Selada-1 prospect in Block PM308A offshore Malaysia as a dry well.



Mexico's Pemex Inks Deal with Global Water Development Partners
Monday, November 30, 2015 Mexico's state-owned oil company Pemex has entered into a partnership with Global Water Development Partners that aims to invest $800 million in water treatment infrastructure projects, the Mexican company said.
BP Jan-Sept Oil Output at Azeri Fields Dips on Platform Maintenance
Monday, November 30, 2015 Oil output from BP-led oilfields in Azerbaijan in the first three quarters of 2015 dipped compared with a year earlier, BP-Azerbaijan said, due to platform maintenance earlier this year.
More Russian Oil Drilling Shows its Resolve to OPEC
Monday, November 30, 2015 Russian oil firms are drilling more, showing the world's top crude producer is ready for a longer fight for market share with OPEC.
Edvard Grieg Field Begins Production
Monday, November 30, 2015 The Edvard Grieg oil field, located in the Norwegian North Sea, begins production.
Buru Energy Spuds Ungani Far West 1 Well in WA's Production License 21
Monday, November 30, 2015 Buru Energy spuds Ungani Far West 1 appraisal well in Production License 21 in Western Australia.
Muhibbah Says Malaysia's Ophir Field WHP EPCIC Deal is Worth $21.7M-$23.4M
Monday, November 30, 2015 Muhibbah Engineering reveals that Malaysia's offshore Ophir field wellhead platform engineering, procurement, construction, installation and commissioning contract is valued at around $21.7-$23.4 million.
NuEnergy Provides Update on Resource Estimates of Indonesian CBM Assets
Monday, November 30, 2015 Australia's NuEnergy updates on resource estimates for its Indonesian coal bed methane assets after completing acquisition of Dart Energy's subsidiary.


Finance and Investing

Russia's Lukoil says 3Q Net Profit Falls 62%, Below Forecast
Monday, November 30, 2015 Lukoil's 3Q net profit falls by around 62% year-on-year to $623 million, missing a $922 million analysts' forecast in a Reuters poll.
Total to Raise $1.2 Billion of New Debt Financing
Wednesday, November 25, 2015 Total is raising approximately $1.2 billion of new debt financing, which it intends to use "for general corporate purposes", according to a company statement.
AGR Demands Speedy Loan Repayment from Tethys Petroleum
Wednesday, November 25, 2015 AGR Energy sends Tethys Petroleum an 'accelerated repayment notice' in relation to a $7.5-million loan it made to the firm during the spring of this year.
88 Energy Raises Funds Through Oversubscribed Share Placing
Friday, November 20, 2015 88 Energy Limited successfully raises $3 million through a "strongly oversubscribed" share placing.
Thai PTT Cuts 2015 Investment Budget To $1.4 Billion
Friday, November 20, 2015 PTT has cut its 2015 estimated investment budget to $1.4 billion, mainly due to a postponement in new overseas investments.
Petrobras' Dangerous Debt Math: $24B Owed in 24 Months
Thursday, November 19, 2015 The debt clock is ticking down at Brazil's troubled oil giant, Petrobras. Next up: $24 billion of repayments over 24 months.


Company Operations

Noble Stacks Rig, Lays Off 120-130 Employees
Monday, November 30, 2015 Noble Drilling will lay off 120-130 offshore workers in January due to the stacking of its Noble Jim Day rig.
Oil & Gas UK Appoints New Board Members
Monday, November 30, 2015 Oil & Gas UK makes a number of new appointments to its board.
Vale CEO Ferreira Quits as Chairman of Brazil's Petrobras
Monday, November 30, 2015 Murilo Ferreira has quit as chairman of Brazil's Petroleo Brasileiro SA.
Study: DNV GL Reveals Top 10 Cyber Security Threats on NCS
Monday, November 30, 2015 DNV GL conducts a study revealing the top 10 biggest cyber security threats for companies operating offshore Norway.
Sterling Completes Mauritania Block C-10 Stake Acquisition
Monday, November 30, 2015 Sterling Energy Mauritania Limited completes a deal to acquire a 13.5% working interest in the production sharing contract for Block C-10, offshore Mauritania, from Tullow Mauritania Limited.
Elixir Gets More Time for Due Diligence for Cliff Head Oil Field Off WA
Monday, November 30, 2015 AWE extends the due diligence period for Elixir Petroleum's acquisition of a 57.5 percent stake in the Cliff Head oil field off Western Australia.



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