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Technip Secures Statoil Services Contracts
Thursday, February 11, 2016 Technip secures fabrication and installation contracts by Statoil for the Johan Sverdrup and Oseberg Vestflanken developments.

KS Energy Issues Profit Warning for 2015 as Industry Downturn Bites
Thursday, February 11, 2016 Singapore's oil and gas services provider KS Energy issues profit warning for 2015, with its performance hurt by the industry downturn.

Rig Contractor Precision Drilling Suspends Dividend
Thursday, February 11, 2016 Precision Drilling Corp suspends its dividend payments as the company looks to boost its finances to cope with a 70% fall in oil prices.

Neptune Bags Kitan Disconnection Project Contract from Technip
Thursday, February 11, 2016 Neptune Marine Services bags a contract from Technip for the Kitan disconnection project in the Australia-Timor Leste Joint Petroleum Development Area.

Sources: India's ONGC Aims For New Drilling Contracts In Cost-Saving Drive
Thursday, February 11, 2016 India's Oil and Natural Gas Corp hopes to agree new cheaper drilling contracts for its western offshore fields, two sources involved in the matter say, in its biggest ever cost-saving drive in response to lower crude prices.


Cenovus Energy Reports Bigger Loss, Cuts Dividend
Thursday, February 11, 2016 Cenovus Energy Inc reports a bigger quarterly loss and also cuts its dividend and 2016 capital spending budget amid a prolonged slump in oil prices.

Maersk Drilling Sees Overcapacity on Rigs for the Foreseeable Future
Thursday, February 11, 2016 As much as one third of the global offshore fleet of oil drilling rigs could be idled in 2016 as energy firms scale back investments on the back of weak crude prices.

Aminex to Divest Partial Stake in Tanzanian Asset
Thursday, February 11, 2016 Aminex plc has reaches an agreement with Solo Oil plc for the divestment of a 3.825% interest in the Kiliwani North Development License in Tanzania.

Aker to Deliver Johan Sverdrup Concept Study
Wednesday, February 10, 2016 Aker Solutions will work on a concept study for a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field.

Husky Energy Cuts More Jobs As Crude Oil Slump Exceeds 19 Months
Wednesday, February 10, 2016 Husky Energy Inc., the oil and natural gas producer controlled by Hong Kong billionaire Li Ka-Shing, has made another round of jobs cuts with the crude market slump exceeding 19 months.

Australia's Bhagwan Marine Acquires Perth-based Delta Subsea
Wednesday, February 10, 2016 Australia's Bhagwan Marine acquires Perth-based subsea engineering consulting firm Delta Subsea.

Exor to buy Welltec Stake for $116M
Wednesday, February 10, 2016 Italy's Exor will buy a 13% stake in energy industry equipment maker Welltec for 103.3 million euros ($116 million).

Pink Petro Launches HERWorld, a Global Energy Forum
Wednesday, February 10, 2016 Pink Petro lines up experts to examine issues including the price of oil, harnessing technology, shaping policy, managing talent development and the gender gap during the downturn.

Seanamic Group Expands Umbilicals Business
Wednesday, February 10, 2016 Seanamic Group expands umbilical business with a new Umbilical International facility in Glasgow.

RCP Clinches Well Control Equipment Deal from Singapore Client for New Rigs
Wednesday, February 10, 2016 RCP clinches contract from a Singapore-based client to supply and install well control equipment for newbuild rigs.

Voestalpine Reports Lower Than Expected 3Q EBIT
Wednesday, February 10, 2016 Voestalpine reports a higher than expected fall in its 3Q operating profit due to the effects of the sharp price falls and overcapacity in the oil and gas sector.

Russia's Lukoil Says Proved Oil Reserves Down to 12.6B Barrels
Tuesday, February 09, 2016 Russia's number-two oil producer Lukoil says its proved oil reserves were 12.6 billion barrels at the end of 2015, down from 13.6 billion barrels at the end of 2014.

PA Resources Divests North Sea Assets
Tuesday, February 09, 2016 PA Resources AB signs an agreement to divest its portfolio of North Sea assets to Petrogas E&P.

Aibel Working on Johan Sverdrup Concept Study
Tuesday, February 09, 2016 Aibel is working on a concept study for the second phase of the Johan Sverdrup development.

European Services Companies Secure Offshore Engineering Contracts
Tuesday, February 09, 2016 France's Technip and Scotland-headquartered Wood Group PSN secure offshore engineering contracts in the Gulf of Mexico and North Sea, respectively.

Frontera Signs Upstream Cooperation MOU with UkrGasVydobuvannya
Tuesday, February 09, 2016 Frontera Resources Corporation signs an MOU for upstream cooperation with UkrGasVydobuvannya, a subsidiary of Ukraine's national energy company Naftogaz.

Transocean-Murphy Deepwater Rig Cancellation Highlights Deepwater Cutbacks
Monday, February 08, 2016 Deepwater contracts drying up as Murphy, other E&Ps, opt out of expensive offshore drilling.

Diamond Offshore Profit Beats On Lower Costs; Div Scrapped
Monday, February 08, 2016 Diamond Offshore Drilling wings into a quarterly loss at it writes down the value of nine drilling units by nearly half-a-billion dollars.

Portugal's Galp Quarterly Net Profit Up 9%
Monday, February 08, 2016 Portuguese oil and gas firm Galp Energia posts a greater-than-expected 4Q profit of $166 million.

GE Oil Deal Offers New Model to Prevent BP-Like Crude Spills
Monday, February 08, 2016 General Electric Co. is expanding its focus on offshore drilling rig safety with a new business that will take over handling of massive underwater equipment designed to prevent well blowouts and oil spills.

Greka Warns of Cost Base Reduction in 2016
Friday, February 05, 2016 Greka Drilling Limited warns that it will take actions to reduce its cost base in 2016 as a response to the lower oil price environment.

BG Group's Earnings Drop
Friday, February 05, 2016 BG Group's upstream business posts earnings of $4.1 billion at the EBITDA level in 2015, marking a 35 percent decrease from 2014.

EU Clears Acquisition of Cameron by Schlumberger
Friday, February 05, 2016 The European Union clears the purchase of equipment maker Cameron International by Schlumberger, the world's No.1 oilfield services provider.

Tower Resources Director Retires
Friday, February 05, 2016 Tower Resources Non-Executive Director Peter Blakey retires from the company's board.

Dong Energy Expects Positive Cash Flow from Oil, Gas in 2017
Thursday, February 04, 2016 Denmark's Dong Energy confirms plans to press ahead with an IPO, saying it expects positive cash flow from its struggling oil and gas division in 2017.

ConocoPhillips Cuts Dividend, Lowers Budget as Low Crude Weighs
Thursday, February 04, 2016 ConocoPhillips lowers its capital budget for 2016 as the fall on crude oil prices takes its tool on the US's largest independent oil and gas company.

FOE Stands Firm on Cancellation of Newbuild Semisub Contract with HHI
Thursday, February 04, 2016 Fred Olsen Energy stands firm on the cancellation of a construction contract with Hyundai Heavy Industries for a newbuild semisub.

MEG Energy's Quarterly Loss Widens
Thursday, February 04, 2016 Canadian oil sands producer MEG Energy Corp posts a bigger quarterly loss, hurt by lower oil prices and strong US dollar.

AGL To Give Up Gas Production As Energy Prices Plunge
Thursday, February 04, 2016 AGL Energy Ltd., Australia's biggest electricity producer, will exit natural gas exploration and production after the plunge in energy prices and expects to book $459 million in writedowns.

SapuraKencana Secures Several Service Contracts
Thursday, February 04, 2016 SapuraKencana Petroleum Berhad's wholly-owned subsidiary companies and jointly controlled entities have been awarded contracts and contract extensions with a combined value of approximately $382 million.

HHI to Work with DHIC, CCEI on Localization of Offshore Plant Equipment
Thursday, February 04, 2016 South Korea's Hyundai Heavy Industries plans to collaborate with Doosan Heavy Industries & Construction and Center for Creative Economy & Innovation on the localization of main equipment for offshore plants.

Sources: Saudi Aramco to Keep Same Number of Oil, Gas Rigs in 2016
Wednesday, February 03, 2016 State oil giant Saudi Aramco is expected to keep the same number of its oil and gas drilling rigs this year, despite weak oil prices, according to industry sources.

Marathon Petroleum's Profit Beats amid Crude Price Slump
Wednesday, February 03, 2016 Marathon Petroleum Corp reports a 77-percent fall in quarterly profit.

Lundin Doubles Year-End Losses in 2015
Wednesday, February 03, 2016 Lundin posts a loss of $866.3 million in 2015, which was more than double the $431.9 million loss registered by the company in 2014.

Oil, Gas Service Companies Win Several North Sea Contracts
Wednesday, February 03, 2016 Aker Solutions, Subsea 7, Technip Norway, Ocean Installer, Hereema Fabrication Group and Aibel secure work in the North Sea.

Australia's Matrix and AMOG Enter into Licensing Agreement for LGS System
Wednesday, February 03, 2016 Australia's Matrix Composites & Engineering enters into a global licensing agreement with AMOG to commercialize the Longitudinally Grooved Suppression (LGS) system.

National Oilwell Posts 4th-Qtr Loss on $1.63B Charge
Wednesday, February 03, 2016 US oilfield equipment supplier National Oilwell Varco reports a loss for the fourth quarter of 2015.

Imperial Oil Profit Misses Estimate as Plunging Crude Weighs
Tuesday, February 02, 2016 Canada's Imperial Oil reports a lower-than-expected quarterly profit, hurt by a prolonged slump in crude oil prices.

Total, Pertamina Sign Long-Term LNG Supply Agreements
Tuesday, February 02, 2016 France's Total and Indonesia's Pertamina sign long-term sale and purchase agreements for the supply of liquefied natural gas beginning 2020.

Saudi Aramco Continues to Invest Despite Oil Price Crash
Tuesday, February 02, 2016 Saudi Aramco will not cut its upstream investment despite the collapse in oil price, says Ahmed Al-Sa'adi, Saudi Aramco's senior vice president for technical services.

Songa Cuts Onshore Staff Size by 200, Closes Aberdeen and S. Korean Offices
Tuesday, February 02, 2016 Songa Offshore trims its staff size by 200 in a bid to optimize the company's operations in the current industry downturn.

U.S. Issues Alert on Offshore Oil Equipment Problems
Tuesday, February 02, 2016 The U.S. Interior Department issues a safety alert, warning offshore oil and gas drillers about recurring problems with bolts on equipment including blowout preventers.

Seadrill Deepens Cost Cuts to Ride Out CEO’s Worst Rig Slump
Monday, February 01, 2016 Seadrill, once the crown jewel among billionaire John Fredriksen’s oil and shipping holdings, is deepening planned cost reductions this year as it attempts to make it through the worst market slump its chief executive has ever seen.

Japan's MES Ventures into the FPSO Business
Monday, February 01, 2016 Japan's Mitsui Engineering and Shipbuilding Co. ventures into the floating production, storage and offloading business.

Oil, Gas Companies Cut Hundreds More Jobs in Texas
Monday, February 01, 2016 Four more oil and gas companies announce hundreds of layoffs in Texas.

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