Regional News: Europe & Russia

 
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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.

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.

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.

Saipem Cuts Guidance as Project Delays Take Toll
Wednesday, July 27, 2016 Italian oil contractor Saipem cut its guidance for the year, saying clients hit by low oil prices were delaying the awarding of contracts.

To Strike or Not to Strike? Depends on Where You Work
Wednesday, July 27, 2016 Distinctions among oil-producing regions play a role in how effective strikes are in wage negotiations.

  


Statoil Second Quarter Lags Forecasts, Cuts 2016 Capex Outlook
Wednesday, July 27, 2016 Norway's Statoil cuts its 2016 capital spending guidance as it posts earnings well below forecasts.

Shell Ideas360: Student Contest Teaches Valuable Career Lessons
Wednesday, July 27, 2016 The recently-completed 2016 edition of Shell's Ideas360 competition featured five student teams around the world who will have learned valuable lessons for their future careers by taking part.

Russia, Turkey Discuss Renewal of TurkStream Project, No Decision Yet
Tuesday, July 26, 2016 Officials from Russia and Turkey discuss the resumption of the TurkStream project, which aims to build a natural gas pipeline from Russia to Turkey.

British Oil Major BP Pursues New Projects Despite Profit Miss
Tuesday, July 26, 2016 BP will forge ahead with at least three more new projects this year, its CEO says, despite reporting a 45 percent drop in second-quarter earnings that prompted a cut in its 2016 investment budget to below $17 billion.

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.

Examining the Rewards and Challenges of Modern Oil and Gas Jobs
Tuesday, July 26, 2016 Three workers share their unique insights on modern oil and gas jobs.

Kemp: Hedge Funds in New Cycle of Oil Short-Selling
Monday, July 25, 2016 Hedge funds have been liquidating their former record bullish position in crude futures and options, putting downward pressure on oil prices in recent weeks.

Under May's New Government, a UK Gas Fracking Push Is Probable
Monday, July 25, 2016 As Theresa May's new government prepares to take the UK out of the European Union, it's likely to promote one technology shunned by most nations on the mainland - fracking.

Shell: No Production Impact from North Sea Strikes Set for Tuesday
Monday, July 25, 2016 A planned walkout by around 400 Wood Group oil and gas maintenance workers employed at Shell's North Sea platforms on Tuesday is not expected to interrupt production from the facilities, operator Shell says.

Police Probe into JKX Subsidiary Continues
Monday, July 25, 2016 JKX Oil & Gas says that a local police investigation into its Ukrainian subsidiary is continuing.

Russian Oil Industry Close to Major Taxation Overhaul
Monday, July 25, 2016 Russia is planning to overhaul its oil industry tax, introducing a profit-based system designed to boost government revenue and lift output from 2018.

Wood Group CEO: Disappointed by Strike Action, Respects Employees' Choice
Monday, July 25, 2016 Wood Group workers on Shell platforms are expected to go forward with their strike over pay and working conditions.

Kremlin: There is 'Understanding' Rosneft Should Not Buy Stake in Bashneft
Friday, July 22, 2016 Kremlin says that there is an 'understanding' in the Russian government that state-owned oil firm Rosneft should not take part in the privatisation of rival Bashneft.

Polish Antimonopoly Office Says Nord Stream 2 Threatens Competition
Friday, July 22, 2016 Poland's antimonopoly watchdog a proposed joint venture by Russia's Gazprom and five European firms responsible for the construction of Nord Stream 2 would undermine competition.

Schlumberger Sees Oil Supply Deficit if Demand Growth Holds
Friday, July 22, 2016 Schlumberger, the world's No. 1 oilfield services provider, says it expects a "significant global supply deficit" of crude oil, given the sharp decline in spending on exploration and 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.

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.

PGS: Improving Sentiment in Offshore Seismic Market
Thursday, July 21, 2016 Norwegian seismic explorer Petroleum Geo-Services says it is beginning to see early signs that its market is stabilizing.

Norway to Examine Competition Conditions in Oil Industry
Wednesday, July 20, 2016 Norway's competition watchdog will look into whether competition rules are being infringed in the country's oil industry, the industry ministry says.

Drones: From Delivering Tacos to Fighting Pipeline Corrosion
Wednesday, July 20, 2016 An expert from a Lloyd's Register unit discusses the changing capabilities of unmanned aerial systems.

Goldman Sees Russian Oil Output Topping Soviet Record by 2018
Wednesday, July 20, 2016 Russian oil output will exceed the former Soviet record set almost 30 years ago by the end of 2018 as low-cost fields allow producers to defy the slump in prices, according to Goldman Sachs.

Lundin's Profitability Affected by FX Loss, Financing Fees
Wednesday, July 20, 2016 Sweden's Lundin Petroleum says profitability during the second quarter will be adversely affected by a net foreign exchange loss of $64 million and financing fees of $22 million.

Saipem-Led Consortium Wants up to $49M More for Building Polish LNG termina
Tuesday, July 19, 2016 A consortium that built Poland's new liquefied natural gas terminal files a request for an additional payment of up to $49 million from the facility's operator.

Aberdeen Drilling Consultants Wins Business from BP
Tuesday, July 19, 2016 Aberdeen Drilling Consultants is awarded a contract by BP to provide the oil supermajor with engineering services around the world.

BLOG: Rigzone/Twitter Poll Says Reduced Hours Should Replace Job Cuts
Tuesday, July 19, 2016 Reduced hours should replace job cuts in the oil and gas industry, according to a Rigzone poll on Twitter.

North Sea Field Shutdowns To Climb As Brexit Deepens Oil Gloom
Tuesday, July 19, 2016 The pace of North Sea oil-field shutdowns is picking up as the impact of the market slump is compounded by the uncertain investment environment created by Brexit.

Safety Investment Remains Resilient Despite Downturn
Monday, July 18, 2016 Oil and gas companies continue to invest in safety research despite an industry downturn.

Media: Russian Court Will Begin Trial over Total CEO's Death on July 28
Friday, July 15, 2016 A Russian court will start a trial of airport staff charged in the death of the late CEO of French oil major Christophe Margerie.

New 'Oil & Gas Technology Centre' Appoints CEO
Friday, July 15, 2016 Former Centrica executive Colette Cohen will head the new Oil & Gas Technology Centre in Aberdeen.

Oil Firm Det Norske Looking for More Deals in 'Very Interesting' Market
Thursday, July 14, 2016 Norway's Det norske sees scope for further transactions after its planned merger with BP's Norwegian business.

New UK PM Scraps Department of Energy and Climate Change
Thursday, July 14, 2016 New British Prime Minister Theresa May scraps DECC and hands energy policy responsibilities to Department of Business.

WoodMac: Most Major Conventional Oil Projects At Risk At $50 Oil Price
Wednesday, July 13, 2016 Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie says.

Wood Maintenance Workers Back Strike on Shell UK Platforms
Wednesday, July 13, 2016 As many as seven of Shell's North Sea platforms could be hit by the first strike action in the basin in 10 years after Wood Group employees working on the facilities vote in favor of industrial action.

Brexit Could Provide Boost for Britain's Shale Gas
Wednesday, July 13, 2016 Britain's shale gas industry could get a helping hand from a falling pound and a supportive new prime minister, after facing economic and political challenges that slowed its start.

EU Energy Chief: Maintaining Gas Via Ukraine is Key for Nord Stream 2 Talks
Wednesday, July 13, 2016 Ensuring Ukraine remains a gas transit route is key to talks between Moscow and Brussels on the Nord Stream 2 pipeline, which would bypass Ukraine and give Russia another direct supply route to Europe, the European Union's top energy official says.

Aker Solutions Says Norwegian Offshore Sector Could Improve in 2017
Wednesday, July 13, 2016 Aker Solutions believes the offshore Norwegian oil and gas sector could start improving by next year, although the next few months are likely to remain 'subdued'.

The Value of an Energy Asset Is Deteriorating Underneath Europe
Wednesday, July 13, 2016 For decades, one of the most profitable parts of Europeís energy industry was giant, underground reservoirs used to store billions of dollars worth of natural gas. Traders stockpile fuel there during the summer to sell in winter, when the continentís consumers need to heat their homes.

IPM, Partnership Fund to Invest $100M in Energy Projects in Georgia
Wednesday, July 13, 2016 Fund management and advisory company InfraPartners Management and Georgia's Partnership fund plan to invest $100 million in renewable energy-related infrastructure in the ex-Soviet country, the firm says.

New UK Prime Minister Likely Good for the Oil, Gas Sector
Wednesday, July 13, 2016 The appointment of Theresa May as the United Kingdom's new Prime Minister is likely to be positive for the UK oil and gas industry.

OGA Awards Contracts for UK Government Funded Seismic Campaign
Wednesday, July 13, 2016 The OGA awards contracts to PGS and WesternGeco for the second UK Government funded $26.5 million (GBP 20 million) seismic campaign to promote underexplored areas of UK Continental Shelf (UKCS).

Premier Oil Production Could Finish Above Guidance in 2016
Tuesday, July 12, 2016 Premier Oil's full year production is expected to be at or above its output guidance rate of between 65,000 and 70,000 barrels of oil equivalent per day, following "strong production" in H1.

Newgrange Prospect Could Hold 13.6 Tcf of Gas
Tuesday, July 12, 2016 Providence Resources plc reveals that the Newgrange prospect, located in the Goban Spur Basin, could hold un-risked prospective resources of 13.6 trillion cubic feet of gas.

NPD To Sell NCS 3D Seismic Data
Tuesday, July 12, 2016 The NPD will sell 3D seismic data covering Block 31/5, and a small part of Block 31/4, as part of a project to make data easily accessible to the industry in all phases of activities on the NCS.

Rosneft Privatization Advisor Proposes To Sell Stake To Strategic Investor
Monday, July 11, 2016 Italian bank Intesa Sanpaolo is proposing to sell the stake in Rosneft to a strategic investor, head of Russia's state property management agency Dmitry Pristanskov said.

Repsol Sinopec Awards Major North Sea Services Contracts
Monday, July 11, 2016 Repsol Sinopec Resources UK approves the award of major new services contracts in the North Sea.

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