Regional News: Europe & Russia
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Shell Corrects Fourth Quarter Results, Earnings Unaffected
Friday, January 30, 2015 Shell says it had overstated its 4Q results by $178 million due to an error in the valuation of its fuel inventory.
Norway's Statoil Will Not Drill In Arctic Barents Sea This Year
Friday, January 30, 2015 Statoil will not drill exploration wells in the Arctic Barents Sea this year after a failed campaign in 2014, says exploration chief Tim Dodson.
Shell Falls Short After Oil Production Income Collapses
Thursday, January 29, 2015 Shell misses profit expectations and announces a 3-year, $15-billion cut in spending.
OMV Drops 2016 Output Goal, Takes 4Q Charge
Thursday, January 29, 2015 Austria's OMV says reduced investment due to lower oil prices and Libyan uncertainty would prevent it from reaching its 2016 output target.
Gazprom Warns of Reduced Investment Program if Oil Price Decline Continues
Thursday, January 29, 2015 Gazprom warns that any further decline in crude oil prices may adversely affect its business and investment program as it reports a 31-percent fall in its nine-month pre-tax profit.
DNV Wins Verification Services Contract with Wintershall
Thursday, January 29, 2015 Technical services firm DNV is selected by Wintershall Norge to supply verification services for the SURF part of the Marian field development project in the Norwegian Sea.
BG Signs Oil Contractor Deal With KBR To Reduce Costs
Wednesday, January 28, 2015 BG Group signs an agreement with KBR to hire skilled contractors for its large-scale projects at short notice, an alliance that will allow BG to cut hiring costs.
Lukoil Would Welcome Investigation into Accusations it Funded Terrorism
Wednesday, January 28, 2015 Lukoil wants a prompt investigation into accusations it took part in the funding of terrorism in Ukraine and is ready to cooperate with Ukraine's law enforcement agencies.
Russia's Gazprom Cancels Plans to Expand Nord Stream
Wednesday, January 28, 2015 Russia's Gazprom cancels a plan to build two more branches of the Nord Stream natural gas pipeline, according to sources.
Scottish Moratorium, Planning Delay Dent Cameron's Shale Gas Ambitions
Wednesday, January 28, 2015 Scotland blocks the granting of permits for fracking and a local English council delays a decision on two projects, casting doubt on British Prime Minister David Cameron's shale gas ambitions.
Norway's Snoehvit LNG Plant Shut Due to Gas Alarm
Tuesday, January 27, 2015 Production at Norway's Snoehvit liquefied natural gas plant stops due to a gas leak.
Wood Mac: Steady Licensing Activity Expected in Europe in 2015
Tuesday, January 27, 2015 Oil and gas licensing activity in Continental and Mediterranean Europe will remain steady in 2015 in spite of the low oil price, according to research firm Wood Mackenzie.
Oil Producer Afren Shares Slump Amid Warning Of Imminent Default
Tuesday, January 27, 2015 Afren's shares tumble 72% after it said it had entered talks with its largest bondholders over immediate fund shortages, prompting dent ratings agency Fitch to warn of its imminent default.
UK Oil & Gas Appoints New CEO
Tuesday, January 27, 2015 Stephen Sanderson appointed as new CEO of UK Oil & Gas.
UK Parliament Group Calls for Shale Gas Fracking Moratorium
Monday, January 26, 2015 A group of British lawmakers call for a moratorium on shale gas fracking, saying developing the unconventional gas resources was incompatible with targets to fight climate change.
Britain To Ban Fracking In National Parks After Policy U-Turn
Monday, January 26, 2015 Britain says it would ban fracking in national parks, reversing a policy announced last year.
Oil Major BP Freezes Pay In 2015 To Cut Costs
Monday, January 26, 2015 BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.
Falcon 'Disappointed' with NIS over Mako Trough License
Monday, January 26, 2015 Falcon Oil & Gas says it is disappointed with partner NIS over its failure to drill a third well on the Hungarian Mako Trough license within the timeframe agreed.
Software Firm AVEVA Sees Increased Uncertainly in Oil & Gas Market
Monday, January 26, 2015 Engineering software business AVEVA Group reports 'increased uncertainty and reduced visibility' among its oil and gas clientele.
Russian 2015 Hydrocarbon Reserve Growth To Fall Below Forecast
Monday, January 26, 2015 Russia's proven hydrocarbon reserves will increase much less than previously expected in 2015, the Russian Environment Ministry says.
RIA: Russia's Novatek Sees 2015 Gas Output Up 6%
Friday, January 23, 2015 Russia's Novatek sees its 2015 gas output increasing by six percent and its production of liquids more than 40 percent greater.
Technip Gains EDGE in Gender Equality Performance
Friday, January 23, 2015 French oilfield services firm becomes the first company from the energy industry to become certified for the EDGE gender equality standard.
In Battered Oil Services Sector, Smallest Look Weakest
Friday, January 23, 2015 Slammed by plunging oil prices, oil services companies face a bleak outlook of cutbacks and contract cancellations.
Seadrill to Guarantee North Atlantic Drilling's NOK 1.5B Bond
Thursday, January 22, 2015 Offshore drilling firm Seadrill says it will provide a guarantee for subsidiary North Atlantic Drilling's $197-million bond maturing in 2018.
Oil Majors Seek To Claw Back Costs From Service Firms
Thursday, January 22, 2015 Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house.
Gunvor: No Rebound To $100 Oil, Contango To Deepen
Thursday, January 22, 2015 Gunvor's head of analysis says crude was unlikely to return to $100 a barrel in the foreseeable future.
Faroe Petroleum Expects To Raise Exploration Capex In 2015
Thursday, January 22, 2015 Junior oil firm Faroe Petroleum expects its pre-tax exploration and appraisal capital spending to increase in 2015.
Top Tips: Applying for Your First Graduate Job in European Oil, Gas
Thursday, January 22, 2015 Rigzone talks to graduate recruiters at BP and OMV about their tips for university students applying for a graduate job in oil and gas.
OPEC, Oil Companies Clash At Davos Over Price Collapse
Wednesday, January 21, 2015 OPEC defends its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could lead to a huge supply shortage.
Deputy PM: Russia May See Oil Output Fall by 1M BPD at Most
Wednesday, January 21, 2015 Russia may see a natural decline in oil output by around 1 million barrels per day but has no plans to cut production in coordination with OPEC, says the country's deputy prime minister.
Junior Oil Firms: Not All Doom and Gloom
Wednesday, January 21, 2015 As many junior energy companies suffer amid the oil price rout, Rigzone finds out which of the smaller oil and gas firms are best placed to weather the storm.
Faroe, Lundin, Cairn Score Norway License Wins
Wednesday, January 21, 2015 Faroe Petroleum and Lundin Petroleum issue details of licenses they have secured in Norway's latest offshore licensing round.
Cuadrilla Gets Planning Set Back to its Fracking Plans
Wednesday, January 21, 2015 Local planning officers deal a blow to Cuadrilla's fracking plans at Preston New Road and Roseacre despite the award of Environment Agency permits.
Total Cuts North Sea, US Shale Spending After Oil Price Plunge
Wednesday, January 21, 2015 Total will cut spending on ageing North Sea fields and cut US shale production after the recent plunge in oil prices, CEO Patrick Pouyanne says.
Golar LNG Selects Gary Smith as CEO to Replace Doug Arnell
Tuesday, January 20, 2015 Golar LNG appoints Gary Smith as CEO to take over from the Doug Arnell.
Norway Moves Arctic Ice Edge North, Oil Firms On Alert
Tuesday, January 20, 2015 Norway's energy ministry launches an Arctic-focused oil and gas licensing round.
STATS Group Plans Further Expansion after Securing $6.5M
Tuesday, January 20, 2015 Scottish pipeline specialist STATS Group plans further international expansion after securing an additional $6.5 million in investment.
Russia's Rosneft Starts Oil Production At Arkutun-Dagi Field
Monday, January 19, 2015 Rosneft starts oil production at the Arkutun-Dagi field, part of the Sakhalin-1 project in the Russian Far East.
Noreco, North Energy Agree Norwegian Sea Asset Transfer
Monday, January 19, 2015 Noreco agrees to transfer 30-percent ownership in PL484 in the Norwegian Sea to North Energy.
Centrica's Cohen Appointed Head of UK Onshore Oil, Gas College
Monday, January 19, 2015 Colette Cohen, head of Centrica's UK oil and gas production business, is appointed chair of the UK's new National College for Onshore Oil and Gas.
Schlumberger Reports 7% Revenue Growth
Friday, January 16, 2015 French oilfield engineering group Schlumberger sees its annual revenue grow seven percent to $48 billion.
Shale Firm Cuadrilla Wins UK Exploration Permits
Friday, January 16, 2015 The UK's Environment Agency grants permits to shale gas firm Cuadrilla Resources to carry out exploration at a site in northwest England.
Petroceltic Sharpens Production Focus as Oil Prices Slump
Thursday, January 15, 2015 Irish independent oil producer Petroceltic International will focus on improving volumes and costs at its core production assets and step backwards from certain exploration projects.
Seadrill Appoints Expro CEO to its Board
Thursday, January 15, 2015 Offshore driller Seadrill appoints Expro CEO Dr Charles Woodburn to its board of directors.
New Consultancy Aims to Transform Front-End Development for Offshore Fields
Thursday, January 15, 2015 New firm io oil & gas consulting aims to transform the development of front-end designs for offshore oil and gas fields.
Norway Oil Spending, Output to Fall on Low Crude Prices
Thursday, January 15, 2015 Norwegian energy investments are set to tumble this year, exacerbating a drop in oil production.
Statoil Hands Back 3 Greenland Exploration Licenses
Wednesday, January 14, 2015 Statoil hands back three of its four Greenland offshore oil and gas exploration licenses in another sign of cost cutting by energy firms amid the plunge in oil prices.
Norwegian Seismic Explorer TGS Expects 2015 Revenue Fall
Tuesday, January 13, 2015 Norwegian seismic explorer TGS posts greater-than-expect 4Q revenues but warns of energy companies curbing spending amid tumbling oil prices.
Oil, Gas M&A in Upstream Sector Climbs to $37 Billion in 4Q 2014
Tuesday, January 13, 2015 The total value of upstream oil and gas m&a deals, according to data from the Evaluate Energy M&A database, reached $37 billion in 4Q 2014, a slight increase from the $35 billion total of 3Q.
Tullow To Begin Oil Sector Job Purge As Weak Prices Bite
Tuesday, January 13, 2015 Tullow Oil is planning to cut some of its 2,000-strong workforce, a source familiar with the company says, starting an expected avalanche of job losses.
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