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Battle Inside OPEC Eases As Saudi Oil Strategy Finally Pays Off
Friday, May 27, 2016 - Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time, it could soon argue convincingly that its strategy of squeezing rival producers is succeeding.
Saudi Arabia's Economic Plan Shows It's Just Not That Into OPEC
Tuesday, May 24, 2016 - Saudi Arabia, one of the founders of OPEC, is sounding the group's death knell.
Seadrill Drops as CEO Says Drillship Firesale Was Overpriced
Thursday, May 26, 2016 - The offshore drilling market is in such bad shape that when a rival recently bought a rig for less than a 10th of its new-build cost, it probably overpaid, according to Seadrill Ltd. Chief Executive Officer Per Wullf.
BP's Oil Search Strategy Shrinks With Budget Cuts
Monday, May 23, 2016 - The departure of BP's exploration boss has turned the spotlight on an oil search strategy that is focusing mainly on expanding existing fields rather than venturing into the unknown.
Niger Delta Avengers Attack Escravos Terminal
Thursday, May 26, 2016 - The Niger Delta Avengers attack Chevron's Escravos terminal in Nigeria, according to a statement on Twitter.
McDermott Charts Growth Path Following Company Restructuring
Monday, May 23, 2016 - Fresh from a company turnaround, offshore engineering and construction firm McDermott gears up to tap opportunities in a market beset by the challenges of low oil prices.
Baker Hughes: US Oil Drillers Cut Rigs Despite Price Decovery
Friday, May 27, 2016 - US oil drillers cut rigs for a ninth week in the last 10, energy services company Baker Hughes Inc said on Friday, even as crude prices this week tested a seven-month high at $50 a barrel.
Iran-Saudi Row Threatens Any OPEC Deal, Puts Role In Question
Wednesday, May 25, 2016 - As Iran reaches pre-sanction output levels, rising political tensions could dampen hopes for a production deal at the next OPEC meeting.
Hercules Offshore to File for Bankruptcy a Second Time
Friday, May 27, 2016 - Hercules Offshore plans to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.
Norwegian Oil Investments To Fall Further In 2017
Thursday, May 26, 2016 - Investment in Norway's oil and gas sector will continue to fall next year as weak crude prices curb oil firms' spending, according a survey conducted by Statistics Norway.


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