Industry Headlines News for Europe & Russia

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Global Oil Sector Will Shift to Upcycle in 2018
Friday, December 08, 2017 The global oil and gas sector will shift from downcycle to upcycle in 2018, according to a new report from BMI Research.

BLOG: What do Rigzone Readers Think of the OPEC/NOPEC Deal?
Thursday, December 07, 2017 Was the latest OPEC/NOPEC agreement sufficient?

Report: Offshore Oil, Gas Helicopter Expenditure to Hit $16B to 2022
Wednesday, December 06, 2017 Offshore oil and gas helicopter expenditure will total $16 billion over 2018-2022, according to a new report published by Westwood Global Energy Group.

UKCS Supply Chain Collaboration Improving
Tuesday, December 05, 2017 Collaboration within the UKCS upstream supply chain is improving, according to an annual sector survey published by Deloitte and Oil & Gas UK.

Statoil Greenlights $6B Flagship Arctic Oil Project
Tuesday, December 05, 2017 Statoil gave the final go-ahead to a flagship Arctic oil project after slashing costs by half.

Oilfield Services Collaboration Set to Continue
Monday, December 04, 2017 The collaboration employed by services and equipment companies in the oil and gas sector during the oil price downturn is set to continue.

OMV Buys Stake in Western Siberia Gas Field for $2B
Friday, December 01, 2017 Vienna based oil and gas firm, OMV, completes the acquisition of a 24.99% share in the Yuzhno Russkoye natural gas field.

OPEC, Russia Agree Oil Cut Extension To End Of 2018
Thursday, November 30, 2017 OPEC agrees to extend oil production cuts until the end of 2018, Reuters reports.

Survey: Oil Sector Confidence Increasing
Thursday, November 30, 2017 Confidence in the oil sector is increasing, according a new industry survey by Aberdeen & Grampian Chamber of Commerce (AGCC).

UK Government Issues Support for Shale Industry
Wednesday, November 29, 2017 The UK government has lent its support to the UK's shale gas industry in a recently published white paper.

Aberdeen Services Company to Grow Workforce to 2020
Tuesday, November 28, 2017 Aberdeen-based services firm confirms its commitment to grow its workforce to 400 people in the next 3 years.

IEA Chief Sees Oil Markets Tightening Towards Second Half Of 2018
Tuesday, November 28, 2017 The global oil market could tighten towards the second half of 2018 if demand remains robust and key producers continue their current policies.

Market Expectations of OPEC Meeting - Analysts
Monday, November 27, 2017 What does the market expect from the latest OPEC meeting?

Statoil to Buy Total Assets Offshore Norway in $1.45B Deal
Monday, November 27, 2017 Total S.A agrees to sell all of its interests in the Martin Linge field (51 percent) and Garantiana discovery (40 percent) on the Norwegian Continental Shelf to Statoil ASA.

OPEC Sees Market Rebalancing after June as it Mulls Oil Cut Extension
Monday, November 27, 2017 Oil markets will rebalance after June 2018 at the earliest, an OPEC working panel concluded, according to OPEC sources, signalling the need to extend existing production cuts well into next year.

Serica to Buy BP Stake in North Sea Fields, Welcome 100+ Staff
Tuesday, November 21, 2017 Serica UK agrees to acquire BP plc's interests in the Bruce, Keith and Rhum fields in the North Sea, in a deal which will see the transfer of approximately 110 BP staff to the company on completion.

Aker BP Enters Drilling, Well Alliances with Halliburton, Maersk, Odfjell
Tuesday, November 21, 2017 Aker BP ASA enters into separate drilling and well alliance agreements.

Machine Learning Engineers in Oil Will Become 'Bored' Without Quality Data
Tuesday, November 21, 2017 Machine learning engineers being hired into the oil and gas industry will become 'bored' if companies can't provide quality data for them to work on.

BiFab 'Secures' Future, Workforce
Monday, November 20, 2017 Burntisland Fabrications Limited (BiFab) 'secures' its future after reaching a 'financial solution' with its key stakeholders.

Norway Oil Bosses Insist End Isn't Nigh After $35 Billion Shock
Monday, November 20, 2017 Can Norway dump $35B in oil and gas investments, and simultaneously convince that same industry to throw money into the country's own fossil-fuel future?

Siemens to Cut Almost 7,000 Jobs Worldwide
Friday, November 17, 2017 Siemens AG will cut around 6,900 jobs worldwide in its Power and Gas Division (PG), Power Generation Services Division (PS) and Process Industries and Drives Division (PD).

'Strong Opportunities' Available for Innovative Engineering Firms
Friday, November 17, 2017 There are still 'strong opportunities' available for engineering firms in the offshore oil and gas sector with the capacity to deliver fast, innovative projects.

Norway's Oil Sell-Off Plan Is 'Shot Heard Around the World'
Friday, November 17, 2017 Norway's proposal to sell off $35B in oil and natural gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change.

BiFab Workers Rally in Scotland
Thursday, November 16, 2017 BiFab workers and their families have rallied in Edinburgh, Scotland, to urge members of parliament to help staff at the energy services firm, which is facing the threat of administration.

New Oil & Gas UK Deal 'Good News' for Future Engineers
Thursday, November 16, 2017 UK offshore oil and gas industry trade body, Oil & Gas UK, strengthens its partnership with the Society of Petroleum Engineers' Aberdeen branch.

BP Begins Share Buybacks As Years Of Austerity Pay Off
Wednesday, November 15, 2017 BP Plc will begin share buybacks, making it the first major European energy company to resume buybacks since the 2014 price slump.

Oil Market Conditions 'Continue to Improve'
Wednesday, November 15, 2017 Fundamental conditions in the oil market are continuing to improve, that is the key takeaway of research note sent to Rigzone recently by investment banking firm Jefferies.

UK CCS Sector Could Create Over 225,000 Jobs by 2060
Wednesday, November 15, 2017 The UK carbon capture and storage (CCS) industry could create more than 225,000 jobs in the region by 2060.

With Arctic Drilling Under Attack, Norway Oil Chiefs Fight Back
Wednesday, November 15, 2017 The man overseeing western Europe's biggest crude spigot is fighting back against the oil doubters.

Union Calls on Groups to 'Battle' for BiFab, Help 1,400 Workers
Tuesday, November 14, 2017 The GMB union urges the Scottish government and industry stakeholders to pull together and 'battle' for energy services firm BiFab, which is facing administration.

IEA: 'Too Early to Write Obituary of Oil'
Tuesday, November 14, 2017 The world's consumers are not yet ready to say goodbye to the era of oil.

BiFab Job Losses Would Be 'Hammer Blow' for Scottish Economy
Monday, November 13, 2017 UK union GMB say any loss of employment at Burntisland Fabrications (BiFab) would be a 'hammer blow' for the Scottish economy.

OPEC, NOPEC Agreement 'Unlikely' to Emerge in November Meeting
Friday, November 10, 2017 The chances of a coordinated statement between OPEC and its non-OPEC partners on an extension of production cuts is 'increasingly unlikely'.

Subsea 7 CEO Expects Market Improvement in 2018
Thursday, November 09, 2017 Jean Cahuzac, the CEO of oilfield services company Subsea 7, is optimistic that the market environment will improve in early 2018.

Consortium to Deploy up to $47 Million to Advance Offshore Energy Tech
Thursday, November 09, 2017 A consortium of 5 universities, working with 31 industrial and innovation partners, will deploy up to $47 million of support to advance offshore energy technology.

Ex-SBM Executives Plead Guilty In US To Petrobras Bribe Charges
Thursday, November 09, 2017 Two former executives at SBM Offshore NV have pleaded guilty to US charges.

Artificial Intelligence Offers 'Great Deal of Promise' for Upstream
Monday, November 06, 2017 The IEA believes upstream oil and gas could really benefit from the use of artificial intelligence.

Repsol Posts 88% Increase in 3Q Profit, Analysts Reveal 'Mixed' Reactions
Friday, November 03, 2017 Spanish oil firm Repsol S.A posts an 88% increase in 3Q net profit.

Injunctions to Remain at INEOS Shale Sites
Friday, November 03, 2017 A High Court judge rules that injunctions protecting people on and around INEOS Shale sites will continue.

Union Issues Strike Notice to Total's Shetland Gas Plant Sub Contractor
Friday, November 03, 2017 Unite serves strike notice to Total's sub contractor at the Shetland gas plant, Aker Solutions.

Shell Posts 3Q Earnings Boost of Almost 50%
Thursday, November 02, 2017 Royal Dutch Shell posts an income boost of almost 200% in 3Q.

Novak: Oil Cut Pact Extension Decision Not Necessarily At Nov Meeting
Thursday, November 02, 2017 Russian Energy Minister Alexander Novak says an extension beyond March 2018 for a global deal between OPEC and other producing countries is being discussed.

BP Delivers 3Q Profit Boost
Tuesday, October 31, 2017 BP plc's group chief executive, Bob Dudley, says there is still room for further improvement after the company posted a profit increase in the third quarter of 2017.

Global Gas Demand, Production Rising
Monday, October 30, 2017 World gas demand rose by 2% in 2016, according to Eni SpA's latest World Oil and Gas Review.

Aker BP Vows to Keep Chasing Growth
Monday, October 30, 2017 Aker BP ASA has vowed to carry on pursuing growth opportunities in its latest quarterly report, following the announcement of a deal to acquire Hess Norge.

Brent Oil Holds Above $60 On Expected Output Cut Extension
Monday, October 30, 2017 Brent oil holds above $60 per barrel on Monday, near its highest since mid-2015.

European Oil Companies Report Increased Profits in 3Q
Friday, October 27, 2017 European oil firms Total S.A and Eni SpA boost profits in the third quarter of 2017.

Aker BP Buys Hess' Norway Unit For $2B
Tuesday, October 24, 2017 Aker BP will add the Norwegian operations of Hess to its expanding exploration and production portfolio under a $2 billion deal.

Forget Peak Demand, Norway's Oil Chief Wants More Crude to Pump
Thursday, October 19, 2017 The renewable energy revolution doesn't scare the man overseeing western Europe's biggest crude oil spigot.

World's Biggest Oil Traders See Wildly Diverging Crude Price
Thursday, October 19, 2017 The world's biggest oil traders say crude could rise above $60 a barrel in a year as demand grows and OPEC keeps cutting.

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