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Regional News: Europe & Russia

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EY: Global O&G M&A Outlook 'Cautiously Optimistic'
Friday, November 21, 2014 Despite an increasingly stable global economy, resilient equity markets and corporate earnings confidence, the global oil and gas M&A landscape remains only cautiously optimistic, according to a recent EY Survey.

OPEC Panel Reviews Oil Outlook in a Start to Talks on Oversupply
Friday, November 21, 2014 A panel of national representatives review OPEC's oil market outlook for 2015, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.

Mobil App Launched for West Africa Travel
Friday, November 21, 2014 A new mobile app has been launched to provide oil and gas companies with essential information for employees travelling to West Africa.

Ophir Energy Offers to Buy Salamander in SE Asia Push
Friday, November 21, 2014 British oil and gas explorer Ophir Energy offers to buy Salamander Energy Plc for 267 million pounds ($419 million) to expand in southeast Asia.

Energy Minister: Russia Mulls Oil Output Cut, No Decision Yet
Friday, November 21, 2014 Russia may cut oil production to shore up flagging prices, but its ability to change output is limited and no decision has been made yet, its energy minister said, underlining Moscow's desire for a higher oil price.


Oil Services Firm CGG Rebuffs $1.8B Offer From Rival Technip
Thursday, November 20, 2014 CGG rebuffs a $1.84 billion takeover offer from larger rival Technip, which wants to broaden the range of services it can offer cost-wary oil companies.

Ineos Plans $1 Billion Investment In UK Shale Gas
Thursday, November 20, 2014 Ineos announces plans to invest $1 billion in shale gas exploration in Britain as efforts to emulate the US shale boom ramp up.

Draft Law: Germany to Leave Door Ajar for Fracking
Thursday, November 20, 2014 The German government plans to stop short of an outright ban on fracking for shale gas.

Technip Names New Diving Support Vessel
Wednesday, November 19, 2014 French oilfield services firm calls its latest diving support vessel the 'Deep Explorer'.

Directorate: Oil Firms Demand Excessive Returns Offshore Norway
Wednesday, November 19, 2014 Oil companies in Norway are frequently demanding excessive returns on their investments, raising the risk that some oil will never be produced, NPD Director Bente Nyland says.

NPD: Norway Hopes to Launch New Oil, Gas Licensing Round before Christmas
Wednesday, November 19, 2014 Norway hopes to launch its 23rd oil and gas licensing round before Christmas, according to the head of the Norwegian Petroleum Directorate.

Statoil Changes Staff Pension Scheme
Tuesday, November 18, 2014 Norway's Statoil shifts from a defined benefit pension scheme to one that is based on defined contributions.

Oil Steadies above $79 as OPEC Output Cut Talk Heats Up
Tuesday, November 18, 2014 Brent crude oil steadies above $79 per barrel after hitting a four-year low last week, as speculation grows that OPEC could cut output at its November 27 meeting in Vienna.

Finland and Estonia Agree LNG Terminal Plan
Monday, November 17, 2014 Finland and Estonia reach an agreement to build two liquefied natural gas (LNG) terminals, connected by a pipeline across the Gulf of Finland by 2019.

Germany Government Reiterates its Ban on Fracking
Monday, November 17, 2014 Germany says it has no plans to lift a ban on fracking, following a report in news magazine Der Spiegel that it was considering lowering the hurdles for shale gas extraction to allow test drilling.

CEPSA Says no Longer Interested in Buying Salamander Energy
Monday, November 17, 2014 A consortium led by Spain's Compania Espanola de Petroleos said it was withdrawing from the bidding to acquire oil firm Salamander Energy, reducing the competition for rival suitor Ophir.

Kemp: OPEC's Options (None of Them Good)
Monday, November 17, 2014 As ministers from the 12 members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to fly to Vienna for their 166th meeting, the quiet consultations and soundings have already begun.

Minister: Norway Oil Investments to Fall More Than Expected in 2015
Monday, November 17, 2014 Norwegian energy minister expects his country's oil industry to cut investments more sharply than previously anticipated.

Putin's Oil Tsar Heading to Vienna as OPEC Meets
Monday, November 17, 2014 Top Russian oil producer Rosneft's Chief Executive Igor Sechin will fly to Vienna on Nov. 25, just two days before the Organization of the Petroleum Exporting Countries meets in the city to debate the plunge in oil prices.

IEA Sees New Era, No Quick Rebound In Oil Prices
Friday, November 14, 2014 The oil market has entered a new era with lower Chinese economic growth and booming US shale output, making a return soon to high prices unlikely, IEA says.

DNB: Sub-$100 a Barrel Oil May Translate into Long Term Demand Growth
Thursday, November 13, 2014 Norway's DNB believes that sub-$100 a barrel crude oil price could produce more sustainable demand for the hydrocarbon in the long term.

Solvay Profit Rise Helped by Fracking, Cheaper Raw Materials
Thursday, November 13, 2014 Belgian chemicals firm Solvay sees 9.5-percent increase in its third-quarter profit thanks to an increased demand for fracking fluids in the US.

Russia's Gazprom Put 2015 Investments At $18B
Thursday, November 13, 2014 Gazprom will invest $18.1 billion next year, the bulk for development of the Yamal peninsula gas deposits and also including research for a new gas pipeline route to China, the company says.

SBM Offshore Settles Bribery Case for $240M, Shares Jump
Wednesday, November 12, 2014 Dutch oilfield services firm SBM Offshore Settles Bribery Case for $240 million.

Subsea 7 Warns of Increased Uncertainty in Project Awards
Wednesday, November 12, 2014 Subsea 7, while reporting strong third quarter results, warns of increased uncertainty in the timing of certain project awards from customers due to lower oil prices.

UK Opens Onshore Oil, Gas College as Boffins Question Shale Promise
Wednesday, November 12, 2014 The UK opens its first National College for Onshore Oil and Gas while academics caution against the government trumpeting shale gas as a solution to the country's energy security needs.

Hungary Urges EU to Ensure Route for Azeri Gas to Central Europe
Tuesday, November 11, 2014 Hungary's prime minister urges the European Union to build gas pipeline interconnectors across borders to ensure gas from Azerbaijan reaches markets in central Europe.

Maersk CEO Says Company Is Ready To Invest In Oil Fields
Tuesday, November 11, 2014 A.P. Moller-Maersk's third-quarter net profit beat expectations, boosted by a strong performance at its container shipping business Maersk Line.

Norway Oil Investment To Fall Next Year, Then Level Out
Tuesday, November 11, 2014 Investment in Norway's oil sector will fall sharply next year before leveling out for 4 years as energy firms continue to work on relatively profitable projects, industry lobby group says.

Shell to Maintain Asset Sales Target despite Oil Price Decline
Tuesday, November 11, 2014 Shell to maintain its target to sell $15 billion of assets by 2015 in an effort to boost cash flow.

Urals Energy Appoints Interim CEO
Tuesday, November 11, 2014 Urals Energy appoints its chief financial officer as interim CEO while it searches for a permanent replacement for Alexei Maximov.

Masculine Image Still Deters Women from Joining Energy Sector
Monday, November 10, 2014 Initiatives to bring more women into oil and gas industry still not working says new survey of global workforce

UK Environment Agency Likely to Grant Permits for Shale Firm Cuadrilla
Monday, November 10, 2014 Britain's Environment Agency says it will likely approve environmental permits for shale gas firm Cuadrilla Resources at a site in northwest England.

BP CEO Says Committed to Rosneft Investment, No Sale Plans
Monday, November 10, 2014 BP chief executive Robert Dudley says the oil major was committed to investments in Russia and had no plans to sell its stake in Rosneft despite Western sanctions against the country.

Fugro Shares Leap on Bid Speculation after Boskalis Stake Buy
Monday, November 10, 2014 Dutch oil services firm Fugro says it is open to joint ventures with other companies after rival Boskalis buys a stake.

Norway's Songa Offshore Expects Further Market Weakness in 2015
Monday, November 10, 2014 Rig operator Songa Offshore says it expects weak demand in the Norwegian floater market to persist in 2015.

Romania Does Not Have Shale Gas, PM Ponta Says
Monday, November 10, 2014 Romania's shale gas does not exist, Prime Minister Victor Ponta says.

Rosneft Sells Stake in Vankor Oilfield to CNPC
Monday, November 10, 2014 Rosneft signs an agreement with CNPC that will see the Chinese company purchase a 10-percent stake in ZAO Vankorneft, which operates the Vankor oilfield in Siberia.

Greece Tells Turkey To Stop Challenging Cyprus Natgas Efforts
Friday, November 07, 2014 Greece urges NATO partner Turkey to stop harassing Cyprus while it looks to exploit offshore natural gas fields.

Statoil Comes up Dry in the Barents Sea
Friday, November 07, 2014 Statoil's wildcat well 7227/10-1 comes up dry after targeting Triassic reservoir rocks.

JKX Awarded Extension to Zaplavskoye License
Thursday, November 06, 2014 JKX Oil & Gas is awarded a further five-year extension to its Zaplavskoye exploration license by Ukraine.

Central European Oil Firms See 3Q Profit Boost
Thursday, November 06, 2014 OMV and MOL both report upbeat results for the third quarter of 2014, driven in part by their upstream oil and gas operations.

Dijols Breaks Silence on CAT Oil Takeover
Thursday, November 06, 2014 Oil industry veteran Maurice Dijols pledges quick talks with CAT oil management, breaking his silence on his investment vehicle's takeover plans.

Statoil Suspends 2 New Rigs Due to Overcapacity
Thursday, November 06, 2014 Statoil says it is suspending the Transocean Spitsbergen and the Songa Trym through the rest of 2014 due to overcapacity in its rig portfolio.

Rig firm Prosafe Cuts Dividend Target on Weak Oil Sector
Wednesday, November 05, 2014 Offshore accommodation rig provider Prosafe cuts its dividend target as the offshore oil sector continues to weaken on capital spending cuts.

3Legs Sells its Last Polish Shale Gas Concessions
Wednesday, November 05, 2014 3Legs Resources sells its last shale gas concessions in Poland to Sweden's Stena Group.

Russian Lawmakers Ask Medvedev to Delay Oil Tax Changes
Wednesday, November 05, 2014 Russian Prime Minister Dmitry Medvedev is asked to postpone changes to the country's oil tax regime by parliament.

Don't Rule Out OPEC Cut, Say Top Oil Traders
Tuesday, November 04, 2014 Forget conspiracy theories and be prepared for OPEC to cut output in November because this is what they need to do and have done in the past, veteran oil traders say.

Minister: Croatia Gets Six Bids For Adriatic Oil And Gas Exploration
Monday, November 03, 2014 Croatia receives six bids in an international tender for oil and gas exploration areas in the Adriatic Sea, Economy Minister Ivan Vrdoljak says.

BNP: Petrodollars Leave World Markets For First Time In 18 Years
Monday, November 03, 2014 Energy-exporting countries are set to pull their "petrodollars" out of world markets this year for the first time in almost two decades, according to a study by BNP Paribas.

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