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Industry Headlines

Russia's Lukoil Says Current Oil Prices 'Satisfactory'
Monday, February 27, 2017 Current oil prices above $50 per barrel were satisfactory for the markets, Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, says.
Transformative Role of 3D Printing in Oil, Gas to be Discussed By Industry
Monday, February 27, 2017 The role that the industrial application of 3D printing could play in transforming the production of bespoke manufacturing in the oil and gas industry will be discussed by sector representatives.
Total Sells Gabon Assets to Perenco for $350MM
Monday, February 27, 2017 Total S.A. signs an agreement for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco for a total value of around $350 million.
Exxon Mobil Recruiting in 'Many Locations' in 2017
Monday, February 27, 2017 Exxon Mobil will be recruiting in many locations this year, according to a statement from a company representative.
Oklahoma Regulator Issues New Directive to Curb Quakes
Friday, February 24, 2017 Oklahoma's oil and gas regulator issued a wider directive limiting future increases in wastewater disposal underground in another effort to address a rash of temblors that have occurred amid the shale boom.
Bizarre Oil Trades Pose Menace for OPEC in Its Prized Market
Friday, February 24, 2017 OPEC pumped at will the past two years to defend its turf against rivals. Its recent volte-face has left it contending with additional threats in the world?s biggest oil market.
Baker Hughes: U.S. Drillers Add Oil Rigs for Sixth Week in a Row
Friday, February 24, 2017 U.S. drillers add oil rigs for a sixth consecutive week, extending a nine-month recovery as shale producers ramp up spending to take advantage of a recovery in oil prices.
Oil Slips Nearly 1 pct On Concerns Over Rising U.S. Output
Friday, February 24, 2017 Oil prices fall about 1 percent as worries about rising U.S. supplies outweigh OPEC pledges to boost compliance with output curbs.
Exxon Mobil to Extend Norway's Sigyn Field Lifetime Until End-2022
Friday, February 24, 2017 Norway's Petroleum Safety Authority has granted consent to operator Exxon Mobil to extend the lifetime of its Sigyn field offshore Norway until end-2022, the safety watchdog said.
Rigzone's Staff Picks Top 5 Oil, Gas Films
Friday, February 24, 2017 Rigzone highlights the most popular films focusing on the oil and gas industry.
Azerbaijan, Future Gas Supplier To Europe, Faces Shortfall At Home
Friday, February 24, 2017 Azerbaijan is on track to send gas to western Europe by the end of the decade, but is having to import supplies to use at home.

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Exploration

Philippines Needs China Ties Clarity To Lift S China Sea Exploration Halt
Monday, February 27, 2017 The Philippines is waiting for clarity on its relations with China before lifting a suspension on exploration in disputed areas in the South China Sea.
Sound Energy Progresses Tendrara Drilling Development
Friday, February 24, 2017 Africa and Europe-focused upstream gas company, Sound Energy, reveals that it is progressing drilling operations at the Tendrara development onshore Morocco.
Lundin Norway Makes Oil, Gas Find in Barents Sea
Friday, February 24, 2017 Lundin Norway AS, operator of production license 533, has made an oil and gas discovery in the Barents Sea, the Norwegian Petroleum Directorate announces.
Lukoil Finds Oil at Iraq Well
Wednesday, February 22, 2017 Lukoil reveals that it has hit oil at the Eridu 1 exploration well in southern Iraq's Block 10.
Gazpromneft-Sakhalin: Ayashsky License Drilling Work to be Done in Summer
Wednesday, February 22, 2017 Gazpromneft-Sakhalin expects all drilling work on a prospecting and appraisal well at the Ayashsky license block to be completed during summer this year.
Fugro Secures Seep Survey Contract Offshore Kenya
Tuesday, February 21, 2017 Geo-intelligence firm Fugro secures a contract with Shell/BG Kenya for the execution of a seabed survey to detect natural leakages of hydrocarbons.
Study Gives New Hope for Rockall Area Exploration
Monday, February 20, 2017 A geological analysis of the Rockall area of the North Atlantic reveals previously unknown insights that could lead to new oil and gas discoveries in the UK Continental Shelf (UKCS).

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Production

APA, Cooper Energy Look To Speed Up Australia Offshore Gas Project
Monday, February 27, 2017 APA Group agrees to acquire a gas processing plant from Cooper Energy in a move that will help speed up development of a $273 million gas project off the Australian state of Victoria.
Sasol Sees First Ever Oil From Mozambique In 2-3 Years
Monday, February 27, 2017 South Africa's Sasol will produce oil from Mozambican wells in 2-3 years, the first crude output from the southeast African country, joint chief executive Stephen Cornell says.
Mexico's Pemex Jan Crude Output Drops 10.6 pct from A Year Ago
Friday, February 24, 2017 Mexican national oil company Pemex produced 10.6 percent less crude oil in January than in the same month last year, the company said.
Saudi Arabia and Iraq Crude Exports to US Hit Five-Year High
Friday, February 24, 2017 Prior to implementation of OPEC?s November agreement to cut oil production, both Saudi Arabia and Iraq were producing high volumes, which boosted exports.
Chevron Suspends Production At Gorgon Train Two LNG Project
Friday, February 24, 2017 Chevron temporarily suspends production of liquefied natural gas (LNG) at its Gorgon Train Two production line in Australia.
Energy Transfer Says Dakota Access Pipeline 99% Complete
Thursday, February 23, 2017 Energy Transfer Partners LP says that 99% of its controversial Dakota Access Pipeline is complete after receiving all federal authorizations necessary.
India's Top Oil Explorer To Invest $1.1B To Boost Output
Thursday, February 23, 2017 Oil and Natural Gas Corp., India's top oil and gas explorer, will invest 73.37 billion rupees ($1.10 billion) in five fields.
Turkey 'Must' Raise Domestic Energy Production To Above 50% This Year
Wednesday, February 22, 2017 Turkey must increase its energy production from domestic sources to above 50% this year and above two thirds within a decade, Energy Minister Berat Albayrak says.

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Finance and Investing

Roxi, Baverstock Looking to Merge Eragon Interests
Monday, February 27, 2017 Roxi Petroleum plc will shortly be posting a circular to shareholders regarding a proposed merger in respect of the company's Eragon assets.
Saipem Shares Fall On Tough Year Ahead Outlook
Friday, February 24, 2017 Shares in Saipem fell sharply in early trade on Friday after the oil contractor missed 4Q profit expectations and painted a gloomy picture for the industry for the year ahead.
Norway Has No Plan To Cut Statoil Stake
Wednesday, February 22, 2017 The Norwegian government does not plan to cut its stake in Statoil, oil and energy Minister Terje Soeviknes says.
India Top Oil Explorer Takes Profit Hit From Royalty Payments
Tuesday, February 21, 2017 India's Oil and Natural Gas Corp will take a $239 million hit to its quarterly earnings to account for previous royalty payments to Indian states.
Galp Cuts Investment Plan, Sees Higher EBITDA Growth
Tuesday, February 21, 2017 Galp Energia cuts its spending target for the next 5 years by around 20% and trims its output growth forecast.
UAE's Dana Gas Revises 2016 Results Down To Net Loss Of $88 Million
Monday, February 20, 2017 Dana Gas revised down its unaudited preliminary results for 2016 to a net loss of $88 million, from the net profit of $33 million which it had previously reported.
FTC Approves Enbridge Deal To Buy Spectra With Conditions
Thursday, February 16, 2017 Enbridge and Spectra Energy have won US antitrust approval for a $28B merger that will create the largest North American energy infrastructure company.

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Company Operations

Saudi Aramco To Invest $7 Bln In Petronas' RAPID Oil Refinery
Monday, February 27, 2017 Malaysia's Prime Minister Najib Razak announces that Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery project in Malaysia's Johor.
Petronas, Saudi Aramco To Sign Agreement During Saudi King's Visit
Friday, February 24, 2017 Petronas and Saudi Aramco will sign an agreement during a visit by Saudi Arabia's King Salman to Malaysia, Prime Minister Najib Razak says.
Spain's Repsol Aims To Cut Debt By A Further 16% In 2017
Thursday, February 23, 2017 Repsol says it would keep its dividend and investment spending stable in 2017 and pursue cost cuts to reduce debt by a further 16% this year.
Chesapeake Energy Posts Smaller Quarterly Loss
Thursday, February 23, 2017 Chesapeake posts a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets.
Malaysia's Petronas, Saudi Aramco May Sign New Deal On Refinery Project
Wednesday, February 22, 2017 Petroliam Nasional Bhd (Petronas) and Saudi Aramco are expected to sign an agreement to collaborate in Malaysia's Refinery and Petrochemical Integrated Development (RAPID) project.
Thailand's PTT Interested In Petronas Offshore Gas Stake
Wednesday, February 22, 2017 Thailand's PTT Pcl is interested in bidding for a stake in the SK316 offshore gas block in Malaysia's state of Sarawak, Chief Executive Thewin Wongwanich says.
PSA Grants Aker BP Consent to Connect Oda to Ula Field
Wednesday, February 22, 2017 Petroleum Safety Authority Norway grants Aker BP consent to connect the Oda field, located in the Norwegian sector of the North Sea, to the Ula field.

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Policy

HIRE Vets Act Would Incentivize Employers to Hire Veterans
Friday, February 24, 2017 If HR 244 becomes enacted, oil and gas companies may be rewarded for actively recruiting and hiring military veterans.
Subpart W: Lessening the Burden of GHG Reporting
Friday, February 24, 2017 While we all wait to see what changes occur on the federal level, and how the market responds, important changes in how the industry carries out regulatory reporting are ongoing.
Trump and US Nuclear Power Find Common Ground in Jobs Push
Tuesday, February 07, 2017 Nuclear power providers, battered by low prices and competition from cheap natural gas, say they can help President Donald Trump fulfill a campaign promise to put more people to work.
US Oil, Gas Prices Seen Falling With Trump 'Energy Revolution'
Monday, February 06, 2017 President Trump's vow to "unleash an energy revolution" by reversing regulations may send oil and natural gas prices tumbling in 2018, according to Bank of America Merrill Lynch.
Take Time Selling Canada to Trump, Departing Envoy Tells Trudeau
Monday, January 16, 2017 President Barack Obama's outgoing envoy to Canada has some guidance for Prime Minister Justin Trudeau in dealing with the new Trump administration: Don't assume anything.
GOP's Tax Reform Plan Brings Uncertainty to Oil, Gas
Monday, February 20, 2017 US corporate tax reform plan for a tariff on imports, but not exports, could boost income for domestic producers, but it might also pump up gasoline prices and raise refiners' costs.

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