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Drop In The Ocean: India's Strategic Oil Reserves Unlikely To Stir Market
Friday, July 29, 2016 India's initial plan to build-up its strategic petroleum reserves (SPR) is not shaping out to be the dramatic event that some in the market had hoped could help reignite global oil demand.
Canada GDP Shrinks Most Since 2009 as Wildfires Crimp Oil Output
Friday, July 29, 2016 Canada's gross domestic product contracted at the fastest pace in more than seven years in May as wildfires curbed Alberta oil production.
Oil Ends July with Worst Monthly Loss for WTI in a Year
Friday, July 29, 2016 Oil prices steadied after touching three-month lows amid a week-long selloff but still finished the month nearly 15 percent lower, with U.S. crude declining the most in a year because of a persistent glut.
Statoil Agrees $2.5B Brazilian Acquisition
Friday, July 29, 2016 Statoil ASA will acquire Petroleo Brasileiro S.A's 66% operated interest in the BM-S-8 offshore license, located in Brazil's Santos basin, for a total of $2.5 billion.
Economist: Texas Oil, Gas Recovery Will Be Far From Quick
Thursday, July 28, 2016 Despite early signs of recovery, Texas oil economist Karr Ingham warns the process will be slow.
Oil Industry Suppliers See Light at the End of the Tunnel
Thursday, July 28, 2016 European suppliers to the oil industry, hit by their customers' spending cutbacks over the past two years, produce stronger than expected second-quarter earnings and are cautiously pointing to signs of recovery in demand.
Strong Upstream Performance from European Majors
Thursday, July 28, 2016 French and Spanish oil majors Total and Repsol deliver second-quarter results that display a strong performance from their upstream operations.
PwC: Oil Price Stability Drives Uptick in M&A Deals
Thursday, July 28, 2016 Higher commodity prices and cautious optimism resulted in a rise in oil and gas merger and acquisition deals in the second quarter of 2016, according to PwC findings.
Pioneer Says Some US Fracking Costs Competitive with Saudis
Thursday, July 28, 2016 Improved fracking techniques have helped cut Pioneer Natural Resources' production costs in the Permian Basin to about $2 a barrel, low enough to compete with oil rival Saudi Arabia, CEO Scott Sheffield said on Thursday.
Oil Falls to Three-Month Low After Surprise US Stockpile Gain
Thursday, July 28, 2016 Oil fell to a three-month low, edging closer to a bear market, after US crude supplies unexpectedly rose from what was already the highest seasonal level in at least two decades.
Oklahoma County Best while Harris Co. Worst for Oil, Gas Economies
Thursday, July 28, 2016 Recent data finds that Oklahoma City created the most oil and gas jobs in 2015 while Houston shed the most.
Shell Misses Expectations As Earnings Plunge On Oil, BG Costs
Thursday, July 28, 2016 Royal Dutch Shell missed quarterly profit expectations by more than $1 billion after reporting a 72% plunge in earnings due to weak oil prices and high costs following its $54 billion takeover of BG Group.
US Shale Gas Shaking Up Global Markets as LNG Supply Surges
Thursday, July 28, 2016 Shale drillers flooded the US with so much natural gas over the past decade that prices slid to a 17-year low. Now it's going global, with the potential to upset markets from London to Tokyo.
US Shale Gas Shaking Up Global Markets As LNG Trading Surges
Thursday, July 28, 2016 Shale drillers from Pennsylvania to Texas flooded the U.S. with so much natural gas over the past decade that prices slid to a 17-year low. Now they're going global, with the potential to upset markets from London to Tokyo.
Oil Prices Fall on Unexpected Build to Crude Stocks, Looming Product Glut
Wednesday, July 27, 2016 Oil prices continue to slide off the marketís belief that a global glut in gasoline has displaced the oversupply of crude, which had depressed oil prices since July 2014.
Indonesia President Joko Widodo Names Archandra Tahar as Energy Minister
Wednesday, July 27, 2016 Indonesia's President Joko Widodo appoints Archandra Tahar as Energy and Mineral Resources Minister in a cabinet reshuffle, replacing Sudirman Said, according to local media.
Oil Majors Lost One Engine; Now The Second One Is Sputtering
Wednesday, July 27, 2016 If Big Oil was a two-engine airplane, you could say it's been flying on a single engine since energy prices crashed in 2014. Now, the second motor is sputtering.
Algeria to Implement 'New Growth Model' to Cope with Oil Price Drop
Wednesday, July 27, 2016 OPEC member Algeria says it will launch a new "economic growth model" for the next four years focussed on reforming the tax system to bring in more revenue and reduce dependence on energy exports.
South Africa Oil Workers' Strike Could Hit Refineries
Wednesday, July 27, 2016 South African energy workers plan to strike indefinitely from Thursday over pay, according to a union.
Oil Producer Hess Reports Smaller Loss, Cuts Budget
Wednesday, July 27, 2016 U.S. oil producer Hess Corp reports a smaller-than-expected quarterly loss, helped by its efforts to keep costs low, and the company further cut its exploration and production budget for the year.
Fracker Pioneer Posts Wider Second-Quarter Loss on Derivatives
Wednesday, July 27, 2016 U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss that widened from a year earlier on $229 million in losses on derivatives it uses to insulate its revenues from volatile oil prices.
Whiting Petroleum Loss More Than Doubles
Wednesday, July 27, 2016 Whiting Petroleum Corp, North Dakota's largest oil producer, posted a worse-than-expected quarterly loss as production fell and crude prices dropped.
South African Workers in Petroleum Sector to Strike Over Wages
Tuesday, July 26, 2016 More than 15,000 employees in South Africa's petroleum sector are expected to go on strike this week after wage talks with employers failed, Talk Radio 702 reports.
BP Draws Line under Deepwater Horizon Liabilities
Tuesday, July 26, 2016 BP draws a line under its Deepwater Horizon liabilities, with a final estimate of $61.6 billion, as the firm targets growth with a new wave of upstream major project start-ups.
Oil Falls to Three-Month Low Amid Projected Fuel Supply Growth
Tuesday, July 26, 2016 Oil dropped to a three-month low in New York amid speculation that US fuel stockpiles increased, bolstering a glut in the world's biggest crude-consuming nation.
BLOG: 'It's Cyclical' and Other Worn Out Industry Phrases
Tuesday, July 26, 2016 No matter how spot on they may be, there are just some phrases people won't mind not hearing once the industry fully recovers from the downturn.
World Bank Raises 2016 Oil Price Forecast on Supply Outages, Robust Demand
Tuesday, July 26, 2016 The World Bank raised its crude oil forecast for 2016 to $43 a barrel on Tuesday, from $41 a barrel, citing supply outages and robust demand in the second quarter.
Niger Delta Avengers Attack another Pipeline
Monday, July 25, 2016 Nigerian militant group the Niger Delta Avengers claim to have blown up another pipeline, this time at Nsit-Ibom L.G.A. in Nigeria's Akwa Ibom state.
Oil Tumbles to Three-Month Low as US Drilling Climbs Amid Glut
Monday, July 25, 2016 Oil fell to the lowest in three months in New York after US producers increased drilling for a fourth week even as the market contends with abundant stockpiles.
Officials: At Least 40% of Canada Oil Spill Recovered
Monday, July 25, 2016 Authorities say they have recovered at least 40 percent of the 1,572 barrels of oil that leaked into a major western Canadian river, but the spill is still moving downstream.
Canadian Oil Spill from Husky Pipeline Reaches Saskatchewan City
Monday, July 25, 2016 An oil spill by Husky Energy into a major Canadian river reaches the city of Prince Albert, Saskatchewan on Monday, hours earlier than expected.
Husky Oil Spill Hits Water Supply of Second Canadian City
Monday, July 25, 2016 An oil leak from a Husky Energy Inc pipeline into a major Canadian river has forced a second city in the province of Saskatchewan to stop drawing drinking water, officials said on Monday, widening the impact and cost of the spill.
Libyan Deal to End Oil Ports Blockade Still Needs Signing
Monday, July 25, 2016 Libyan Petroleum Facilities Guard commander Ibrahim Jathran says he is ready to end a blockade at key oil terminals, but the UN-backed government still needs to sign an agreement for exports to resume.
Shell to Cut 25% of Deepwater GoM Workforce
Monday, July 25, 2016 Shell will cut hundreds of jobs in its deepwater Gulf of Mexico operations.
Statoil Seeks Standardization to Optimize Offshore Operations
Monday, July 25, 2016 Statoil's recent agreement with AspenTech illustrates the overall industry trend towards optimizing operations through standardization.
Libya Oil Ports' Re-Opening Delayed Due to Row Over Payments
Monday, July 25, 2016 Two of Libya's biggest oil ports may not re-open soon as the hardening positions of rival factions pose a fresh challenge to international efforts to reunite the country and restore its crude exports.
Husky Energy Works to Clean Up Oil Spilled into Canadian River
Friday, July 22, 2016 Husky Energy crews work to clean-up an oil spill into a major western Canadian river, a government official says, with efforts focused on ensuring it does not contaminate the drinking water of communities downstream.
ConocoPhillips to Trim 6% of its Workforce
Friday, July 22, 2016 Houston-based ConocoPhillips will lay off 6 percent of its workforce with a majority of the cuts in North America.
Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles
Friday, July 22, 2016 For almost two years, the spotlight in the global oil market has been on a surplus of crude. The latest stumble in prices shows that the glut extends further.
Rajeev Kumar Sinha Discusses India's Return to International Exploration
Friday, July 22, 2016 Directorate General of Hydrocarbons' CTO Rajeev Kumar Sinha discusses India's ongoing offer of 67 small oil and gas fields under new terms.
Philippines' Oil Still In Troubled Waters After South China Sea Ruling
Friday, July 22, 2016 The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated by last week's ruling that granted Manila a big victory in the South China Sea.
Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.
Baker Hughes: US Oil Drillers Add Rigs for Fourth Straight Week
Friday, July 22, 2016 US drillers this week added oil rigs for a fourth consecutive week, according to a closely followed report on Friday, with the recent return to the well pad expected to soften the decline in domestic crude production.
Maersk Drilling to Cut up to 140 Jobs in Norway
Thursday, July 21, 2016 Denmark's Maersk Drilling says it will cut up to 140 jobs in Norway due to lack of work for two rigs.
Nigeria's Qua Iboe Crude Under Force Majeure for at Least a Month
Thursday, July 21, 2016 Exports of Nigeria's largest crude oil stream, Qua Iboe, will remain under force majeure for at least one month while operator Exxon Mobil repairs a leak on the pipeline feeding the terminal.
More Than $600 Billion Is at Stake as Japan Probes LNG Deals
Thursday, July 21, 2016 Japan's probe into whether the resale restrictions in most of its LNG contracts violate fair trade laws may lead to the renegotiation of more than $600 billion worth of deals.
Employers, Educators Collaborate to Graduate the Next Oil, Gas Workforce
Thursday, July 21, 2016 Industry employers and higher education institutions work together to align current business needs with curriculum and student development.
France's GTT Cuts Outlook on Ship Construction Delays
Thursday, July 21, 2016 French supplier of systems for marine transportation of LNG Gaztransport & Technigaz report strong growth in its first-half results, but cut its 2016 revenue outlook.
Indonesia Plans To Start Building Strategic Oil Reserves This Year
Thursday, July 21, 2016 Indonesia plans to start installing tanks for its strategic petroleum reserves (SPR) and filling them this year with the goal of covering 30 days worth of emergency stocks eventually, the energy minister says.
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