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Industry Headlines

Oil CEOs? Grim Outlook Rubs Off on Speculators Fleeing Market
Monday, August 03, 2015 The world?s biggest oil companies are painting a grim picture of the future and speculators are listening.
PwC: Hybrid Model Could Boost Supply Chain Efficiency with Fewer Workers
Friday, July 31, 2015 A hybrid model proposed by PwC could enhance the efficiency of oil and gas supply chain operations with fewer workers on average needed.
Survey: OPEC Oil Output Hits New High In Market Share Push
Friday, July 31, 2015 OPEC oil output reaches highest monthly level in recent history in July, a Reuters survey finds.
ONE Future Coalition Seeks to Achieve Emissions of 1% or Less
Friday, July 31, 2015 Rigzone speaks the ONE Future Coalition about their goal of reducing the average methane emissions across oil and gas operations to 1% or less.
Texas Oil Production On Track To Break Record
Friday, July 31, 2015 Economist Karr Ingham projects crude oil production in Texas will reach an all-time high in 2015.
Exxon, Chevron Bracing for Dark Times Ahead as Oil Slump Lingers
Friday, July 31, 2015 ExxonMobil and Chevron, the biggest US energy producers, hunker down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years.
Oil Drops For 5th Week; US Crude In Biggest Monthly Fall Since 2008
Friday, July 31, 2015 US crude posts its biggest monthly drop since the 2008 financial crisis.

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Exploration

Otto Energy Spuds Hawkeye-1 Prospect in SC 55 Offshore Palawan Basin
Monday, August 03, 2015 Otto Energy spuds Hawkeye-1 exploration well in Service Contract 55, offshore Palawan Basin in the Philippines.
Pakistan's OGDCL Makes Oil Discovery at Chak Naurang South-1 well in Punjab
Friday, July 31, 2015 Oil and Gas Development Company Limited makes an oil discovery at the Chak Naurang South-1 well in Punjab, Pakistan.
Inpex to Drill Exploration Well Offshore Japan in May 2016
Friday, July 31, 2015 Inpex will drill an exploratory well offshore Japan's Yamaguchi and Shimane prefectures in May 2016.
Russia's Rosneft, US Exxon Jointly Bid for Fields in Mozambique
Thursday, July 30, 2015 Russia's Rosneft and ExxonMobil jointly apply to participate in a tender for hydrocarbon fields in Mozambique.
Pryce Gases to Buy Stake in SC55, Maersk Venturer to Spud Hawkeye-1 Soon
Thursday, July 30, 2015 Pryce Gases to acquire a 10 percent stake in Service Contract 55 offshore the Philippines as the Maersk Venturer drillship prepares to drill the Hawkeye-1 well in the block.
Murphy Updates on Malaysian Ops, Makes Gas Find at Permai Well Off Sabah
Thursday, July 30, 2015 Murphy completes drilling campaign at Belum gas field offshore Sarawak, Malaysia and makes gas discovery at Permai well in deepwater Block H offshore Sabah.
Marathon, OMV Hand Back Croatia Oil Exploration Licences
Wednesday, July 29, 2015 Marathon Oil and OMV return seven offshore oil and gas licenses to Croatia.

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Production

First Oil Achieved from Cidade de Itaguai FPSO, Offshore Brazil
Monday, August 03, 2015 BG Group reports first oil from the Cidade de Itaguai FPSO vessel that is producing from the Iracema North area of the Lula field, offshore Brazil.
PT Donggi Senoro LNG Ships First LNG Cargo to Arun Terminal in Sumatra
Monday, August 03, 2015 Indonesia's PT Donggi Senoro LNG ships its first liquefied natural gas cargo from Sulawesi, Indonesia to Arun LNG terminal in north Sumatra.
Total Takes Over as Operator of PRL 15 in Papua New Guinea's Gulf Province
Monday, August 03, 2015 Total takes over as operator of Petroleum Retention License 15 in the Gulf Province of Papua New Guinea.
Range Resources Increases Production, Revenue
Friday, July 31, 2015 Range Resources' oil and gas production in Trinidad rises by 8% in the second quarter of 2015, compared to the previous quarter, resulting in a revenue increase.
China State Firms to Start Pumping New Oil in Iran
Friday, July 31, 2015 China's state oil giants are set to start pumping a combined 160,000 barrels per day at two projects in southwestern Iran from around October, according to sources.
Savannah Signs PSC with Niger for R3/R4 License Area
Friday, July 31, 2015 Savannah Petroleum signs a Production Sharing Contract (PSC) with the government of Niger for the country's R3/R4 license area.
BG Group Posts 58% Earnings Slump, Increases Production
Friday, July 31, 2015 BG Group, soon to be part of Shell, reveals a 58% earnings slump in the first half of 2015, compared to the same period last year.
WGK Bags FEED Contract for Woodside-Operated Browse FLNG Project Off WA
Friday, July 31, 2015 Wood Group Kenny bags a $6 million front-end engineering and design contract from Woodside for the Browse floating liquefied natural gas development offshore Western Australia.
Western Australia's Ungani Oil Field Officially Commences Production
Thursday, July 30, 2015 Buru Energy reports that the Ungani oil field in Western Australia's Kimberly region has officially opened for production.

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Finance and Investing

Canadian Oil Sands Producer Athabasca Oil Cuts Capex
Friday, July 31, 2015 Canada's Athabasca Oil, which processes oil sands to produce crude, says it would cut its capital expenditure by nearly 5 percent as oil prices stay low.
TGS: $65 Million Revenue Loss in 2Q 2015
Thursday, July 30, 2015 TGS reveals a net revenue loss of $65 million in the second quarter of 2015, compared to the same period last year.
Technip Swings to Loss As Oil Industry Downturn Lasts
Thursday, July 30, 2015 Technip swings to a loss in the second quarter after Europe's biggest oil-services provider took a writedown amid an industry downturn it expects to last for longer than anticipated.
Kazakh Wealth Fund to Sell 10% in State Oil Firm KMG to Central Bank
Wednesday, July 29, 2015 Kazakhstan's sovereign wealth fund will see 10 percent of its shares in state oil firm KazMunaiGas to the country's central bank.
Samsung Heavy Reports Quarterly Operating Loss of $1.3B
Wednesday, July 29, 2015 Samsung Heavy Industries Co., South Korea?s third-largest shipbuilder, reports an operating loss of $1.3 billion in the second quarter, far worse than analysts were expecting.
SBM Completes $1.55B Financing of FPSO Cidade de Saquarema
Tuesday, July 28, 2015 SBM Offshore completes $1.55 billion financing of FPSO Cidade de Saquarema, which will deploy for work in the Lula field offshore Brazil when ready.

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Company Operations

MOGE to Name Firms in End 2015 to Develop Myanmar's Offshore Supply Bases
Monday, August 03, 2015 Myanmar Oil and Gas Enterprise expects to appoints firms to develop new offshore supply bases to support greater upstream activities in late 2015 or early 2016.
Cooper Energy Inks HoA for Gas Sale from Sole Field in Gippsland Basin
Monday, August 03, 2015 Cooper Energy inks heads of agreement with O-I Australia for the sale of gas from the Sole field in the Gippsland Basin, Australia.
China's Petro-king Lands $7.7M Contracts from Sinopec, Beijing Jiuzun
Monday, August 03, 2015 China's Petro-king Oilfield Services lands $7.7 million contracts from Sinopec Northern China and Beijing Jiuzun.
NGP Still Defaults on $27M Payment for Thailand's Manora Development Cost
Monday, August 03, 2015 Australia's Tap Oil says Northern Gulf Petroleum remains in default on a $27 million payment for project costs of the Manora oil development in the Gulf of Thailand.
Arup Becomes Latest Member of Marginal Field Delivery Consortium
Friday, July 31, 2015 Arup signs a collaboration agreement with ABT Oil and Gas, an Enegi-ABTechnology joint venture, to become the latest member of the Marginal Field Delivery Consortium.
Oil Producer Afren's Board to Put Company into Administration
Friday, July 31, 2015 Africa-focused independent producer Afren's board decide to put the company into administration after failing to secure support for a restructuring plan.
Sources: China's Sinopec in Major Shakeup of Overseas Unit
Friday, July 31, 2015 Sinopec is relocating nearly 40 percent of its staff in its global exploration and production unit back to its headquarters, in a major shakeup aimed at cutting costs and boosting efficiency, company sources say.
TransCanada Stands By Keystone XL; Profit Beats
Friday, July 31, 2015 TransCanada is still committed to building the Keystone XL pipeline despite stubborn opposition in the US that has thrown the project into regulatory limbo.
MEO Appoints Andrew Purcell, Michael Sandy as Company Directors
Friday, July 31, 2015 MEO Australia appoints Andrew Purcell and Michael Sandy as non-executive directors of the company.
DSME Files Complaint with LMAA Over Songa Offshore's Newbuild Semisubs
Friday, July 31, 2015 Daewoo Shipbuilding & Marine Engineering seeks arbitration for Songa Offshore to compensate the firm for losses incurred due to delays in construction of four semisubs.
Yinson-Premuda JV to Acquire FPSO Four Rainbow to Bid for Future Projects
Friday, July 31, 2015 Malaysia's Yinson Holdings enters joint venture with Italy's Premuda to acquire a floating production storage and offloading vessel for $65.6 million, with the facility to be used for bidding in future tenders.

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