Regional News: Europe & Russia

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IEA: Oil Glut To Persist As Global Demand Growth Slows
Tuesday, October 13, 2015 A global oil supply glut will persist through 2016 as demand growth slows from a 5-year high and key OPEC members maintain near-record output, IEA says.

OPITO Urges Industry Not to Compromise on Safety amid Low Oil Price
Tuesday, October 13, 2015 David Doig, the chief executive of oil and gas skills and training body OPITO, urges the industry not to cut corners on safety training and competence in the face of sub $50 oil prices.

Putin Bets on Germany as Gas Ties with Turkey Go Sour Over Syria
Tuesday, October 13, 2015 It takes less than a year for Russian President Vladimir Putin to go from hailing Turkey as a potential linchpin in natural gas supplies to Europe to shunning it.

Noreco CEO Steps Down
Tuesday, October 13, 2015 Noreco CEO Tommy Sundt steps down as the company's CEO, effective immediately.

Putin Says Nord Stream II Not Aimed at Cutting off Anyone from Transit
Tuesday, October 13, 2015 Russian President Vladimir Putin says the planned Nord Stream II gas pipeline is not aimed at cutting off anyone from transit.


Repsol Drills Dry Well in Norwegian Sea
Tuesday, October 13, 2015 Wildcat well 6306/5-2, located in the Repsol Norge AS operated production license 642, has come up dry.

North Energy Sells Barents License Stake to Pure E&P
Monday, October 12, 2015 Junior explorer North Energy sells its 10-percent interest in production license 706 to Pure E&P Norway.

Russia's Bashneft Sees No Threat to Dividends from Oil Taxation Change
Monday, October 12, 2015 Bashneft says it will stick to its dividend policy despite the recent change in oil taxation by the Russian government.

Norwegian Budget Will Result in No Change to Oil, Gas Firms' Tax Burden
Friday, October 09, 2015 Norwegian tax adjustments will result in no change to the overall tax burden on oil and gas companies, according to analysts.

Europa Eyes Porcupine Farm-out in Early 2016
Friday, October 09, 2015 Europa Oil & Gas plc CEO Hugh Mackay confirms that the company will begin the farm-out process of its assets in the Porcupine Basin, offshore Ireland, as early as January 2016.

Saipem Secures Services Contracts worth almost $700M
Friday, October 09, 2015 Saipem secures new offshore engineering and construction contracts worth almost $700 million.

Eni Reveals Energy Award Winners
Thursday, October 08, 2015 Eni reveals the winners of its Eni Award, which aims to encourage a better use of energy sources and inspire a new generation of researchers.

Offshore Rig Driller Seadrill Hopes To See Market Turn In 2017
Thursday, October 08, 2015 Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.

Statoil Awards Two Johan Sverdrup Jacket Contracts
Thursday, October 08, 2015 Statoil awards 2 separate contracts for Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A.

Angered by Air Strikes, Turkey's Erdogan Warns Russia on Energy Ties
Thursday, October 08, 2015 Turkey warns Russia that there are other places it can get its natural gas.

Petrogrand and Shelton Petroleum to Form Combined Oil Group
Wednesday, October 07, 2015 Petrogrand AB enters into an agreement with Shelton Petroleum to form a combined oil group, which will focus exclusively on Russian oil assets.

Russia's Gazprom May Delay Launch of TurkStream 1st Line until End-2017
Wednesday, October 07, 2015 Russian energy giant Gazprom may delay the launch of the first line of its TurkStream gas pipeline project until the end of 2017.

Total CEO Says Oil Chiefs to Meet Next Week on Climate, Carbon Pricing
Wednesday, October 07, 2015 Total Chief Executive Patrick Pouyanne says eight global oil firms will meet in Paris next week to discuss climate change and carbon pricing.

Urals Energy Expands Arcticneft License Area Boundaries
Wednesday, October 07, 2015 Urals Energy expands the boundaries of its Arcticneft license area, following a royalty payment of RR27.5 million ($443,630) to the Russian regulatory authorities.

OPEC Sec-Gen Sees Oil Market Improving, Low Price Will Not Persist
Tuesday, October 06, 2015 OPEC sees the oil market improving because of higher demand for the group's crude and a drop in supply growth from non-members, its secretary-general says.

Skandi Africa Vessel Delivered and Working for Technip
Tuesday, October 06, 2015 DOF Subsea Group says it has taken delivery of the Skandi Africa deepwater subsea construction vessel and has contracted it out to Technip for five years.

Russia, Saudi Energy Ministers Discussed Oil Demand, Production, Shale
Tuesday, October 06, 2015 Russia and Saudi Arabia agree to continue consultations, exchanging views on demand, production and shale oil, Russian Energy Minister Alexander Novak tells reporters.

Shell CEO Doing All to Safeguard Dividends Amid Low Oil Prices
Tuesday, October 06, 2015 Shell is "puling out all the stops to safeguard" its dividend in a world where oil prices remain "lower for longer," CEO Ben Van Beurden says.

Wood Group Appoints New CEO
Tuesday, October 06, 2015 Wood Group appoints Robin Watson as its new chief executive officer, effective January 1, 2016.

Lundin Spuds Barents Sea Well
Monday, October 05, 2015 Lundin Norway AS spuds exploration well 7220/6-2, located in PL609 on the Neiden prospect in the Barents Sea.

Magma Global Secures Funding to Support Growth Plans
Monday, October 05, 2015 Magma Global raises $60 million from Strategic Investment Capital Partners, and existing investors, to support its growth plans.

Europa to Implement Cost Saving Initiatives in 2016
Monday, October 05, 2015 Europa Oil & Gas will "implement cost saving initiatives" across its whole business in 2016, following a $4.56 million gross loss for the year ended July 31.

San Leon Energy: Rawicz-15 to Spud in November
Monday, October 05, 2015 San Leon Energy announces that the Rawicz-15 development well, located on the Rawicz field in Poland, will spud during November 2015.

EIC Appoints New President
Monday, October 05, 2015 The Energy Industries Council (EIC) appoints Chris Haynes as its new president.

Farstad Shipping to Lay up Vessels, Reduce Staff
Friday, October 02, 2015 Farstad Shipping ASA is planning to lay up 2 platform supply vessels and 3 anchor handling tug supply vessels in Norway, which will result in approximately 100 layoffs.

Maersk Oil Makes Minor Gas Discovery Offshore Norway
Friday, October 02, 2015 Maersk Oil Norway AS makes a minor gas/condensate discovery near the Tyrihans field in the Norwegian Sea.

Russia Oil Output at Post-Soviet High on Foreign Projects, Rosneft
Friday, October 02, 2015 Russian oil output reached a new post-Soviet monthly high of 10.74 million barrels per day in September thanks to foreign-led projects and Rosneft, according to Russia's Energy Ministry.

Deloitte: UK Oil, Gas Firms Not Maximizing UKCS Value
Friday, October 02, 2015 UK oil and gas firms are not maximizing the potential value from the UK Continental Shelf due to a lack of effective supply chain collaboration, according to a survey from Deloitte LLP.

Wintershall Completes Asset Swap with Gazprom
Thursday, October 01, 2015 BASF subsidiary Wintershall swaps assets with Russia's Gazprom so that it can focus on oil and gas exploration and production.

Document: Spain's Repsol to Cut Workforce by 6% in Next 3 Years
Thursday, October 01, 2015 Spain's Repsol plans to cuts its global workforce by six percent over the next three years, according to an internal document seen by Reuters.

New Norwegian Oil Firm OKEA Secures Funding
Wednesday, September 30, 2015 New oil and gas firm OKEA, which features a former Norwegian energy minister on its board, secures up to $200 million of investment from Seacrest Capital.

Survey: OPEC Oil Output Rises In September, Led By Iraq
Wednesday, September 30, 2015 OPEC oil output has risen in September from the month before, a Reuters survey found.

Shell Says in Talks with Gazprom on Yuzhno-Kirinskoye Gas Field
Wednesday, September 30, 2015 Royal Dutch Shell is in talks to join Gazprom in tapping the Yuzhno-Kirinskoye gas field offshore Russia's Sakhalin island in the Pacific.

Providence Resources Remains Optimistic about Irish Oil and Gas
Tuesday, September 29, 2015 Providence Resources says it remains well placed to deliver its plans and that it continues to be optimistic about the Irish oil and gas sector.

PetroNeft Sees No Sign of Oil Price Improvement, Vows to Grow Production
Tuesday, September 29, 2015 PetroNeft's Chairman, David Golder, believes "there is little sign of improvement in oil prices in the near term" and states that PetroNeft is focused on growing production in the future.

Shell to Explore for Oil, Gas in Block Offshore Bulgaria
Tuesday, September 29, 2015 Bulgaria picks Royal Dutch Shell to carry out deepwater oil and gas exploration of its Black Sea coast and plans to sign a contract by the end of October.

Sanctions, Oil Slump Delay Russian Offshore Drilling 2-3 Years
Tuesday, September 29, 2015 Russia's state-run energy giants Rosneft and Gazprom are delaying some offshore drilling by two to three years because of sanctions and weaker oil prices.

The $12 Billion Reason BP Isn't Worried About a Hostile Takeover
Monday, September 28, 2015 BP, which was said to be readying defenses for potential takeover offers, has a little-known ace in the hole: a disclaimer in its Macondo spill settlement that could tack $12.6B onto the price tag.

Eni's Arctic Field off Norway Hit by New Delays
Monday, September 28, 2015 Eni faces further delays in the development of its Goliat oilfield in the Arctic and has yet to obtain permission from Norwegian authorities to start production.

Eni's Winning Gas Streak Leaves Competition Chafing
Friday, September 25, 2015 Eni's giant Zohr gas find in Egypt this month, a gamble taken under the noses of competitors, marks the Italian major's rapid rise to preeminence in the hunt for big new fields.

Oslo Court Rules in Favour of Norway in $1.8B Gas Pipeline Row
Friday, September 25, 2015 An Oslo court rules in favor of Norway in a lawsuit involving a group of international investors who argued that the country's decision to cut gas pipeline tariffs would cost them $1.8 billion in lost earnings.

Amec Foster Wheeler Appoints New Non-Executive Director
Friday, September 25, 2015 Amec Foster Wheeler appoints Roy Franklin as an independent non-executive director, effective January 1, 2016.

Repsol Streamlines Non-Strategic Asset Base, Sells CLH Stake
Friday, September 25, 2015 Repsol reaches an agreement to sell its 10% stake in Compania Logistica de Hidrocarburos to Ardian, for $362 million, as part of a program that is designed to streamline its non-strategic asset portfolio.

Schlumberger Pulls Out of Eurasia Drilling Deal on Obstacles
Friday, September 25, 2015 Schlumberger will not pursue a $1.7 billion agreement to buy a minority stake in Eurasia Drilling beyond Sept. 30 after a lack of regulatory approvals stalled the deal.

Volga Gas Posts $1.2M Operating Loss
Friday, September 25, 2015 Volga Gas posts an operating loss of $1.23 million in the first half of 2015, compared to an operating profit of $8.49 million during the same period last year.

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