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Industry Headlines

Future Giant Discoveries Could be Lurking Offshore South Africa
Thursday, February 23, 2017 Future giant discoveries may be lurking in the Outeniqua Basin offshore South Africa, according to Anongporn Intawong, a team leader geologist at Spectrum.
Minister: Brazil To Lower Oil Industry Local Purchasing Rules By Half
Thursday, February 23, 2017 Brazil's government says it would relax local purchasing rules for the oil industry as of September in an effort to attract foreign investment and lower costs.
Somali President Appoints Oil Firm Executive As PM
Thursday, February 23, 2017 Somalia's newly elected president appoints the country director of British firm Soma Oil and Gas as the new prime minister.
Partners In Israeli Leviathan Gas Field Okay $3.75B Investment
Thursday, February 23, 2017 The partners in the Leviathan natural gas field approve a $3.75 billion final investment decision (FID) in the first phase of the giant reservoir, the largest energy project in Israel's history.
BLOG: Will Trump Really Try To Take Iraq's Oil? Probably Not
Thursday, February 23, 2017 History and convention likely to weigh down President Donald Trump's appetite for taking oil as a spoil of war.
China's Soaring LNG Demand To Help Rein In Global Glut
Thursday, February 23, 2017 China's soaring demand for liquefied natural gas (LNG) is sparking industry hopes that a supply overhang causing a slump in prices will end sooner than initially anticipated.
Kemp: US Shale Revival Likely To Cap Oil Price Gains
Thursday, February 23, 2017 US shale producers are growing production again, renewing the challenge to OPEC's market share and potentially limiting further increases in oil prices during 2017/18.
Ideal Employer Survey: Students, Graduates Value Culture over Money
Thursday, February 23, 2017 Rigzone's Ideal Employer Survey shows that students/graduates rank a positive work culture over money.

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Exploration

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).
Russia's Rosneft Starts Drilling First Exploration Well In Iraq
Monday, February 20, 2017 Rosneft starts drilling an exploration well at Block 12 in Iraq.
Total Drilling Deeper at Antelope-7 Appraisal Well
Monday, February 20, 2017 Total is drilling ahead to explore a deeper exploration target at the Antelope-7 side track appraisal well, after reaching 7,818 feet without any evidence of intersecting the Antelope reservoir.

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Production

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.
Woodside Flags Growth Options After Tough Year
Wednesday, February 22, 2017 Woodside Petroleum Ltd says it sees its output rising by about 15% over the next 3 years and flags plans to expand near-term output in Western Australia.
Eland: Opuama-3 Well Hits 150,000 Barrel Mark
Tuesday, February 21, 2017 Eland Oil & Gas plc announces that the Opuama-3 well in Nigeria's OML 40 license has produced over 150,000 barrels of oil since the company's last update on Jan. 31.
Russia's Rosneft, Libya's NOC Sign Oil Offtake Deal
Tuesday, February 21, 2017 Libya's National Oil Corporation (NOC) signs a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output.

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Finance and Investing

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.
Cenovus Energy Swings To Profit As Production Rises
Thursday, February 16, 2017 Canadian oil company Cenovus Energy Inc swings to a quarterly profit, as production rises and costs fall.

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Company Operations

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.
MDT International Enters Partnership to Help Tackle Decommissioning
Tuesday, February 21, 2017 Global training provider to the oil and gas industry, MDT International, enters into a strategic partnership to help energy businesses plan for decommissioning.

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Policy

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.
Saudis See No Need to Extend OPEC Deal Beyond Six Months
Monday, January 16, 2017 OPEC probably won't need to extend a deal it reached with other crude producers to cut output, says Saudi Energy Minister Khalid Al-Falih.
Argentina Clinches Deal to Attract Investment in Vaca Muerta Shale
Wednesday, January 11, 2017 Argentina clinches deal with labor unions and energy companies aimed at luring investors to the Vaca Muerta shale formation in Patagonia, the government says.
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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