Regional News: Europe & Russia

 
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Exxon's Russian Unit Stops Gas Supplies From Sakhalin-1 Due To Accident
Wednesday, March 01, 2017 Exxon Neftegaz, the operator of Russian Sakhalin-1 project, has stopped gas supplies to a domestic Russian gas pipeline due to an accident, the energy ministry says.

Eni Beats Q4 Expectations With First Profit In 18 Months
Wednesday, March 01, 2017 Eni beats expectations with its first quarterly profit in 18 months, helped by lower spending and higher oil prices.

Maersk Agrees With Danish State On Tax Deal For North Sea Oil
Wednesday, March 01, 2017 A.P. Moller-Maersk agrees with the Danish state on terms for a new framework agreement regarding exploration and production of oil and gas in the North Sea, Berlingske daily reports.

Russia Cuts Oil Production To 11.1 MM Bpd In Feb
Wednesday, March 01, 2017 Russian oil production fell in February to slightly above 1.515 million tons per day, or 11.10 million barrels per day (bpd), down from a level of 11.247 million bpd reached in October.

NPD Grants Statoil Appraisal Well Drilling Permit
Wednesday, March 01, 2017 The Norwegian Petroleum Directorate grants Statoil Petroleum AS a drilling permit for appraisal well 6507/3-12 A, located in production license 159B.

  


BP Says To Balance Books At $35-40/Bbl Oil Price By 2021
Tuesday, February 28, 2017 British oil major BP says it will be able to balance its books at an oil price as low as $35-40 a barrel by 2021 as the company has reined in spending.

MOL Group: 2016 was Year of Great Achievements, Important Milestones
Tuesday, February 28, 2017 Hungary-headquartered MOL Group had a year of great achievements and important milestones in 2016, according to the company's Chairman-CEO Zsolt Hernadi.

Rig Firm Seadrill Says May File For Chapter 11 Bankruptcy
Tuesday, February 28, 2017 Rig firm Seadrill says it may have to file for Chapter 11 bankruptcy protection if it fails to reach a restructuring agreement with lenders.

Russia Cuts Oil Output By 124,000 Bpd In Feb
Tuesday, February 28, 2017 Russia cut its oil output by around 124,000 barrels per day from February 1-27.

Russia's Lukoil Says Current Oil Prices 'Satisfactory'
Monday, February 27, 2017 Current oil prices above $50 per barrel were satisfactory for the markets, Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, says.

Russia Says May Speed Up Oil Output Cuts
Monday, February 27, 2017 Russia may cut oil production as part of an OPEC-led agreement designed to boost prices faster than it had previously expected, if its domestic companies are able, Energy Minister Alexander Novak said.

Russia's Rosneft Sees CAPEX At Around 1.1 trln Roubles in 2018
Monday, February 27, 2017 Russia's top largest oil producer Rosneft expects its capital expenditures at around 1.1 trillion roubles ($19 billion) according to the company's CFO Pavel Fedorov.

EASA Issues EC 225 LP Helicopter Airworthiness Directive
Monday, February 27, 2017 The European Aviation Safety Agency issues an airworthiness directive for EC 225 LP helicopters, which requires a one-time inspection of the main gear box oil cooler.

Transformative Role of 3D Printing in Oil, Gas to be Discussed By Industry
Monday, February 27, 2017 The role that the industrial application of 3D printing could play in transforming the production of bespoke manufacturing in the oil and gas industry will be discussed by sector representatives.

PSA: Norway's Petroleum Industry Must Get Safety Back on Track
Friday, February 24, 2017 Norway's petroleum industry needs to get safety developments back on track, according to Petroleum Safety Authority Norway's Director General Anne Myhrvold.

Lundin Norway Makes Oil, Gas Find in Barents Sea
Friday, February 24, 2017 Lundin Norway AS, operator of production license 533, has made an oil and gas discovery in the Barents Sea, the Norwegian Petroleum Directorate announces.

Ineos Shale: We Won't Drill If We Can't Prove It's Safe
Friday, February 24, 2017 Onshore UK-focused energy company Ineos Shale confirms it will not drill any of its prospects if it cannot prove that its drilling and aftercare operations will be safe.

Fugro Sees Further Market Decline In First Half Of 2017
Friday, February 24, 2017 Fugro says it expects a further significant decline in the offshore oil and gas services market in the first half of 2017 before oil companies prepare for new investments later in the year.

Saipem Shares Fall On Tough Year Ahead Outlook
Friday, February 24, 2017 Shares in Saipem fell sharply in early trade on Friday after the oil contractor missed 4Q profit expectations and painted a gloomy picture for the industry for the year ahead.

Spain's Repsol Aims To Cut Debt By A Further 16% In 2017
Thursday, February 23, 2017 Repsol says it would keep its dividend and investment spending stable in 2017 and pursue cost cuts to reduce debt by a further 16% this year.

Ideal Employer Survey: Students, Graduates Value Culture over Money
Thursday, February 23, 2017 Rigzone's Ideal Employer Survey shows that students/graduates rank a positive work culture over money.

Gazpromneft-Sakhalin: Ayashsky License Drilling Work to be Done in Summer
Wednesday, February 22, 2017 Gazpromneft-Sakhalin expects all drilling work on a prospecting and appraisal well at the Ayashsky license block to be completed during summer this year.

Petrofac Makes 29% Headcount Reduction, Revenue Hits $7.8B
Wednesday, February 22, 2017 Petrofac makes a headcount reduction of 29% to around 13,500 employees, the oilfield services firm reveals in its final results for 2016.

Total CEO Says OPEC Needs to Prolong Cuts to Eliminate Glut
Wednesday, February 22, 2017 OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global inventory glut, says Total CEO.

Norway Has No Plan To Cut Statoil Stake
Wednesday, February 22, 2017 The Norwegian government does not plan to cut its stake in Statoil, oil and energy Minister Terje Soeviknes says.

Wood Group Cuts Workforce by 36% in 2-Year Period
Tuesday, February 21, 2017 John Wood Group cuts its workforce by 36% over a 2-year period, the oilfield services company reveals.

Galp Cuts Investment Plan, Sees Higher EBITDA Growth
Tuesday, February 21, 2017 Galp Energia cuts its spending target for the next 5 years by around 20% and trims its output growth forecast.

MDT International Enters Partnership to Help Tackle Decommissioning
Tuesday, February 21, 2017 Global training provider to the oil and gas industry, MDT International, enters into a strategic partnership to help energy businesses plan for decommissioning.

BLOG: Aberdeen Oil, Gas Industry Has Cause to Celebrate
Tuesday, February 21, 2017 Aberdeen's oil sector has had cause to celebrate recently, following a difficult period in the aftermath of the price crash.

NPD: Total Proven, Unproven Resources on NCS Equals 14.3 Bcm
Tuesday, February 21, 2017 Total proven and unproven petroleum resources on the Norwegian continental shelf equate to 14.3 billion standard cubic meters of oil equivalents, the NPD says.

Study Gives New Hope for Rockall Area Exploration
Monday, February 20, 2017 A geological analysis of the Rockall area of the North Atlantic reveals previously unknown insights that could lead to new oil and gas discoveries in the UK Continental Shelf (UKCS).

Watchdog: Cost Cuts Appear To Harm Norway Oil Industry Safety
Monday, February 20, 2017 Cost cuts by Norway's oil and gas industry appear to have contributed to a rise in accidents in recent years, the head of the country's PSA says.

Global LNG Demand Set to Rise to 2030
Monday, February 20, 2017 Global demand for liquefied natural gas (LNG), which reached 265 million tons in 2016, is set to grow to 2030, according to a new LNG Outlook report by Royal Dutch Shell plc.

Shell Shakes Up Oil Trading World With Brash Buying Sprees
Monday, February 20, 2017 Unusual moves in trading have damaged confidence so much that some traders retreated from the market.

Kraken 2Q Start-up 'On Track'
Friday, February 17, 2017 EnQuest plc reveals that the Kraken development is progressing and the delivery of first oil in 2Q is on track.

DOF Group Axes Over 700 Employees in 2016
Friday, February 17, 2017 Oil and gas offshore services firm DOF Group slashes its headcount by 742 employees during 2016, as a result of cost cutting measures.

Polish Govt Not Working On Lotos-PKN Merger
Friday, February 17, 2017 The Polish government is not working on a potential merger between the state-run oil companies Grupa Lotos and PKN Orlen.

Wood Group Appoints New European President
Thursday, February 16, 2017 John Wood Group plc appoints Alan Johnstone as the president of its Asset Life Cycle Solutions business in Europe.

OMV Raises Dividend By 20% As Cash Pile Grows
Thursday, February 16, 2017 Austrian oil and gas group OMV raises its dividend by 20% as free cash flow turned positive last year.

Gazprom, CNPC Broaden Strategic Energy Cooperation
Thursday, February 16, 2017 Russia's Gazprom agrees to broaden its strategic cooperation in the energy sector with China's CNPC.

Seismic Surveyor PGS Sees Higher Demand From Oil Companies, 4Q Lags
Thursday, February 16, 2017 Seismic surveyor PGS expects an increase in demand from oil companies in 2017 after years of cutbacks.

Technology Adoption Could Unlock Around $300B in Savings for Oil, Gas
Thursday, February 16, 2017 The deployment of data analytics, robotics and other technologies could boost productivity across the oil and natural gas sectors, potentially unlocking close to $300 billion in annual savings.

UK Government has 'Shameful' Energy Policy Track Record, Says SNP's McCaig
Thursday, February 16, 2017 The UK government has a 'shameful' track record on energy policy, according to the Scottish National Party's Business and Energy spokesperson at Westminster, Callum McCaig.

Pennine Petroleum Signs Velca Block PSA
Wednesday, February 15, 2017 Albania and Canada focused Pennine Petroleum Corporation signs a Production Sharing Agreement (PSA) with Albpetrol Sh.A for the exploration and development of the Velca Block in Albania.

Siberian Oil Giant That Bankrolled USSR May Gush Cash Again
Wednesday, February 15, 2017 Russia's largest oil field could be on the verge of gushing profits again for Rosneft PJSC.

Kemp: Milestones On The Oil Market's Road To Rebalancing
Tuesday, February 14, 2017 Crude oil stockpiles are expected to empty significantly during the third quarter as continued production restraint from OPEC interacts with the seasonal increase in consumption.

Rolls-Royce Marine to Cut 800 Jobs by Summer
Tuesday, February 14, 2017 Rolls-Royce's marine division plans to conclude the reduction of around 800 roles worldwide by the summer, according to a company spokesperson.

Technology has 'Fundamental Role' to Play in Supporting Oil, Gas Recovery
Tuesday, February 14, 2017 Technology has a fundamental role to play in supporting the oil and gas industry's recovery, ITF CEO Patrick O'Brien says.

Lundin Board Proposes Malaysia, France, Netherlands Asset Spin Off
Monday, February 13, 2017 Lundin Petroleum's board of directors proposes to spin-off its assets in Malaysia, France and the Netherlands into a newly formed company called International Petroleum Corporation (IPC).

Lundin Norway Makes Filicudi Oil, Gas Discovery
Monday, February 13, 2017 Lundin Norway AS has made an oil and gas discovery on the Filicudi prospect at well 7219/12-1, located in PL533 in the southern Barents Sea.

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