Regional News: Europe & Russia

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Reports: Offshore Gas Worker Dies in North Sea Incident
Wednesday, December 07, 2016 An offshore gas worker has died after an incident in the North Sea, according to various media reports.

Doosan Babcock to Cut Almost 500 UK Jobs
Wednesday, December 07, 2016 Energy sector engineering group Doosan Babcock will cut 470 UK jobs, the majority of which will be in Scotland, according to the BBC.

Kremlin Says Putin Personally Agreed Oil Output Cuts
Wednesday, December 07, 2016 President Vladimir Putin personally agreed planned Russian oil output cuts based on a consensus he had reached with big oil firms about co-operating with OPEC, the Kremlin said on Wednesday.

Statoil to Stop Using H225 Helicopter Variant Involved in Crash
Tuesday, December 06, 2016 Statoil will not resume using Airbus' Super Puma helicopters even if Norway's Civil Aviation Authority decides to lift the ban imposed after a fatal crash off Norway in April.

Statoil Pledges to Slash CO2 Emissions by 2030
Tuesday, December 06, 2016 Statoil's CEO Eldar Saetre has vowed to cut the company's CO2 emissions across its Norwegian assets over the next 13 years.


Statoil CEO Sees Oil Market Rebalancing Sooner, Price Heading Towards $60
Tuesday, December 06, 2016 The balance between demand and supply in the oil market will shift earlier than previously expected due to OPEC's output cuts, Statoil's chief executive says.

OGA Launches Supplementary Exploration Round in UKCS
Tuesday, December 06, 2016 The UK's Oil & Gas Authority has launched a supplementary round to the 29th Oil and Gas Licensing Round offer, which was launched on July 27.

Wood Group, Heerema Fabrication Group Team-Up on NCS
Tuesday, December 06, 2016 Wood Group and Heerema Fabrication Group sign a Memorandum of Understanding to team-up and offer wellhead platform development services to clients on the Norwegian Continental Shelf.

Survey: Collaboration is Crucial for Future Success in North Sea
Monday, December 05, 2016 Collaboration is vital for the future success of the oil and gas industry in the North Sea, according to a survey from Oil & Gas UK and Deloitte.

Kemp: After Two Years, Why an OPEC Deal Now?
Monday, December 05, 2016 After an agreement to cut production what has changed to make an agreement possible now?

Russia's Rosneft Offers $9.4B In Local Bonds And Eyes Egyptian Investment
Monday, December 05, 2016 Rosneft opened the books for a $9.4 billion bond sale to raise money for foreign projects, and said it was interested in an offshore concession in Egypt.

KRG Doing All It Can To Ensure IOC Payments Says Deputy Prime Minister
Monday, December 05, 2016 The Kurdistan Regional Government is doing all it can to ensure prompt payments to international oil and gas companies operating in the area, KRG Deputy Prime Minister Qubad Talabani says.

OPEC To Meet Non-OPEC Producers On Dec. 10 In Moscow
Friday, December 02, 2016 OPEC will meet non-OPEC countries to finalise a global oil limiting pact on Dec. 10 in the Russian capital Moscow, two OPEC sources told Reuters on Friday.

Ahead Of Promised Cut, Russia's Oil Output Hits Record High
Friday, December 02, 2016 Russia plans to use its rercent oil production as its baseline when it cuts output under this week's deal with OPEC,Deputy Energy Minister Kirill Molodtsov says.

Gazprom In Talks With Japanese Banks About Raising $850M
Friday, December 02, 2016 Russian gas giant Gazprom is working on a deal under which Japanese banks would provide it with financing worth 800 million euros ($851.28 million), two sources familiar with the discussions told Reuters.

Analysts: OPEC Deal will see Brent Hit $72
Friday, December 02, 2016 The price of Brent crude oil will hit $58 per barrel in 2017 and $72 per barrel in 2018, according to forecasts from oil and gas analysts at investment bank Jefferies.

Rolls-Royce To Cut Another 800 Jobs At Marine Unit
Thursday, December 01, 2016 British engineering company Rolls-Royce said it would cut a further 800 jobs in its marine business.

Ex-Oil Workers Look to Grow Aberdeen Brewery, Employ More Ex-Energy Staff
Thursday, December 01, 2016 Ex-oilfield workers Dave Grant and Dave McHardy, who opened a brewery in Aberdeen after leaving the sector, are looking to expand their business and employ more ex-energy industry staff in 2017.

CLNR 'Significantly' Increases Resources at License P2252
Thursday, December 01, 2016 CLNR announces a significant increase in P50 Prospective Resources on its 100% owned License P2252, from 162 billion cubic feet to 636 Bcf.

Russia Says To Cut Oil Output From Nov-Dec Levels
Thursday, December 01, 2016 Russia will cut its oil output from November-December levels, Energy Minister Alexander Novak told reporters on Thursday.

Shale Production to Grow, Offshore Output to Decline from 2018
Thursday, December 01, 2016 Shale production is expected to grow significantly from 2018, with a yearly addition of 1 million barrels per day, while offshore output will see a decline from the same year, according to Rystad Energy.

Centrica Sells Trinidad And Tobago Gas Assets To Shell
Wednesday, November 30, 2016 British utility Centrica said on Wednesday it has agreed to sell its gas assets in Trindad and Tobago for $30 million to Royal Dutch Shell.

Aker BP Awards 5-Year Services Contract to DNV GL
Wednesday, November 30, 2016 Aker BP awards a new frame agreement to DNV GL covering a range of safety, verification, inspection and classification services across its installations on the Norwegian Continental Shelf.

Oil Firms Unlikely To Boost Norway Exploration In 2017
Wednesday, November 30, 2016 Oil companies operating on Norway's continental shelf are unlikely to increase their overall exploration activity in 2017, a key regulator of the industry said on Wednesday.

Aibel Secures Troll C FEED Contract
Wednesday, November 30, 2016 Oilfield services firm Aibel secures a contract for a FEED (front end engineering design) study for the installation of a new gas module on the Troll C platform, located offshore Norway.

Russia Ready To Cut Oil Output By 300,000 Bpd In 1H, As Agreed With OPEC
Wednesday, November 30, 2016 Russia is ready to cut oil production "gradually" by up to 300,000 bpd in the first half of next year as part of an agreement with OPEC, Russian Energy Minister Alexander Novak says.

Job Losses Continue but Crisis Could be Reaching 'Turning Point'
Tuesday, November 29, 2016 Job losses have continued to be prevalent in the oil and gas industry this year, and there are further cuts to come, but the crisis could be reaching a turning point.

Norway To Investigate Oil Industry Safety After Accidents Rise
Tuesday, November 29, 2016 Norway will appoint a public commission to look into the safety of the country's offshore oil and gas industry following a recent string of accidents, the government says.

Environmental Report on UK Oil, Gas Industry Shows Positive Trends
Tuesday, November 29, 2016 Discharges to sea and emissions to the air by the UK's oil and gas industry have been on an overall downward trend over the last 15 years, according to industry body Oil & Gas UK's Environment Report 2016.

Engie Chairman Mestrallet Confirms Support For CEO Kocher
Tuesday, November 29, 2016 French gas and power group Engie's chairman Gerard Mestrallet confirms his support for new chief executive Isabelle Kocher, following media reports about tensions between the two managers.

Hurricane Energy Signs FPSO Agreement for Lancaster Field
Tuesday, November 29, 2016 Hurricane Energy signs an agreement with Bluewater Energy Services for the use of the Aoka Mizu Floating Production Storage and Offloading Vessel on the company's Lancaster field, West of Shetland.

Sound Energy Secures Drilling Rig for Badile Well
Tuesday, November 29, 2016 Independent energy company, Sound Energy, has signed a contract securing a drilling rig for its Badile exploration well in Italy.

Russia's Lukoil Says Q3 Net Profit Down 12.5% Q-on-Q
Tuesday, November 29, 2016 Russia's No.2 oil producer Lukoil says its 3Q net profit fell 12.5% quarter-on-quarter, while its free cash flow jumped 83.4 percent to 104.5 billion roubles ($1.6 billion).

Eni Aims to Cut Stake in Zohr Field to 50 pct, Could Happen Quickly
Monday, November 28, 2016 Italian energy group Eni plans to reduce its stake in the giant Zohr gas field offshore Egypt to 50 percent, Chief Executive Claudio Descalzi said.

Sources: Maersk, DONG Energy in Talks Over $10B Oil Merger
Monday, November 28, 2016 Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said.

Sources: Shell Considering Selling its Iraq Oil Assets
Monday, November 28, 2016 Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global $30 billion asset disposal programme, industry sources said.

Norway and Russia to Step Up Cooperation in Arctic Hunt for Oil
Monday, November 28, 2016 Russia and Norway will soon sign a deal to acquire new seismic data from the two countries' Arctic Barents Sea maritime border region to boost the search for oil and gas.

Oilfield Services Moving Out of Survival Mode, M&A Uptick Expected
Monday, November 28, 2016 The oilfield services sector could see an uptick in M&A activity over the next 18 months as businesses move out of survival mode and look to the future, according to professional services firm KPMG.

BLOG: Oil, Gas Job Cuts Due to Brexit Likely
Monday, November 28, 2016 There will likely be oil and gas job cuts as a result of the UK's decision to leave the European Union, according to a Rigzone Twitter poll.

Hurricane Energy Confirms Halifax Prospect Well
Monday, November 28, 2016 UK-based oil and gas company Hurricane Energy confirms it will drill the offshore UK Halifax prospect after the completion of the Lincoln well.

Report: Fire Alarm Triggered at Statoil's Heimdal Platform
Friday, November 25, 2016 A fire alarm has been triggered at the Statoil Heimdal platform in the North Sea, according to Norwegian daily newspaper Stavanger Aftenblad.

Russneft IPO Demand Exceeds Offer By Over 30%
Friday, November 25, 2016 Mikhail Gutseriyev, a co-owner of the Russian mid-sized oil company Russneft, said in a statement that the demand during the company's initial public offering (IPO) has exceeded offer by more than 30%.

Ithaca Energy Expects Stella Production to Commence January
Friday, November 25, 2016 Ithaca Energy Inc. expects the production start-up of the Stella field, located in the central North Sea, to commence in January 2017 after a program of necessary repairs was identified.

Norway Approves Hike In Troll's 2016 Oil Output Quota-Letter
Friday, November 25, 2016 Norway's oil and energy ministry approves a hike in the 2016 oil output quota of the North Sea Troll field to 46.5 million barrels from 41.7 million, giving it the highest output level since 2009.

SNP: Autumn Statement a Betrayal for Oil, Gas Industry
Friday, November 25, 2016 The SNP describes the UK Chancellor of the Exchequer's recent autumn statement as a betrayal to the oil and gas sector.

Oil Reserves Increasing, Gas Reserves In Decline Says Eni Report
Thursday, November 24, 2016 Oil reserves increased in 2015 and gas reserves recorded a decline, according to Eni's 15th World Oil and Gas Review published Thursday.

Japan's JBIC To Provide Loan To Novatek-Led Yamal LNG Project
Thursday, November 24, 2016 Japan Bank for International Cooperation (JBIC) is set to provide a 200 million euro ($211 million) loan to the Yamal liquefied natural gas (LNG) project in Russia led by Novatek.

FMC, Technip Receive Clearance to Combine from European Commission
Thursday, November 24, 2016 FMC Technologies, Inc. and Technip have announced that the pending combination of the companies has received a clearance decision from the European Commission under Council Regulation (EC) No 139/2004.

Russia's Rosneft Approves 1 Trillion Rouble Bond Program
Thursday, November 24, 2016 The board of Russia's largest oil producer Rosneft has approved a bond program worth 1.071 trillion roubles ($16.55 billion) for 10 years.

PSA Launches Investigation Into Scarabeo 5 Fire
Thursday, November 24, 2016 The Petroleum Safety Authority Norway (PSA) launches an investigation into a fire which broke out in an engine room on the Scarabeo 5 drilling unit Nov. 22.

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