Regional News: Europe & Russia

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Norwegian Oil Investments To Fall Further In 2017
Thursday, May 26, 2016 Investment in Norway's oil and gas sector will continue to fall next year as weak crude prices curb oil firms' spending, according a survey conducted by Statistics Norway.

Govt's Rosneft Stake Can't Be Sold On Open Market
Thursday, May 26, 2016 Kremlin economic adviser Andrei Belousov says the government's stake in top oil producer Rosneft could not be sold on the open market.

Seadrill Warns of Further Cost-Cutting in 2016
Thursday, May 26, 2016 Seadrill will be cutting costs by approximately $340 million this year, after warning that the offshore drilling market "remains challenging".

Report: Slow, Steady Recovery More Likely Than Rapid Rebound
Wednesday, May 25, 2016 A slow, steady recovery in oil prices is more likely than a rapid rebound, according to a global oil and gas industry survey from international law firm Ashurst.

Statoil Says Sees European Gas Prices Bottoming Out
Wednesday, May 25, 2016 Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply, company officials say.


Technip Secures Statoil Umbilical Contract
Wednesday, May 25, 2016 Technip Umbilicals Ltd secures a contract by Statoil ASA to supply the umbilical to the Oseberg Vestflanken 2 field offshore Norway.

UK Oil, Gas Industry Set to Become Decommissioning Pioneer
Wednesday, May 25, 2016 The UK oil and gas industry is set to become a pioneer in decommissioning activity globally and has the opportunity to become a leader in this field, according to Wood Mackenzie.

Poland's PGNiG to Receive First Spot LNG Cargo from Statoil on June 25
Tuesday, May 24, 2016 Poland's state-run gas firm says it will receive its first spot delivery of liquefied natural gas (LNG) from Norway's Statoil on June 25.

UKOOG Supports Yorkshire Council's Fracking Approval
Tuesday, May 24, 2016 UKOOG welcomes North Yorkshire County Council's decision to approve the hydraulic fracture of Third Energy's Kirby Misperton well.

Europa Oil & Gas Signs PEDL143 Farm-Out Deal with UJO
Monday, May 23, 2016 Europa Oil & Gas (Holdings) plc signs a farm-out agreement in relation to a 7.5% working interest in the PEDL143 license, located in the Weald Basin, with Union Jack Oil and Gas plc (UJO).

McDermott Charts Growth Path Following Company Restructuring
Monday, May 23, 2016 Fresh from a company turnaround, offshore engineering and construction firm McDermott gears up to tap opportunities in a market beset by the challenges of low oil prices.

BP's Oil Search Strategy Shrinks With Budget Cuts
Monday, May 23, 2016 The departure of BP's exploration boss has turned the spotlight on an oil search strategy that is focusing mainly on expanding existing fields rather than venturing into the unknown.

Wintershall Makes Small North Sea Discovery
Monday, May 23, 2016 Wintershall Norge AS, operator of production license 248, makes a small oil discovery near the Vega field in the North Sea.

Rosneftegaz Might Pay Interim Dividend If Rosneft Stake Privatized
Friday, May 20, 2016 Rosneftegaz, which owns 69.5% of Russia's biggest oil producer Rosneft, might pay interim dividends should Rosneft be privatized.

Novatek Could Buy Out Shareholders Opposing Yamal Loan Deal
Friday, May 20, 2016 Novatek recommends buying back shares from those shareholders who do not approve external financing of its Yamal liquefied natural gas project.

Norwegian Production Rises
Friday, May 20, 2016 Norway's production levels are increasing, according to preliminary production figures from the Norwegian Petroleum Directorate.

Russian Economy Minister: Gazprom May Buy Own Shares From VEB
Friday, May 20, 2016 Gazprom might buy some of its own shares from troubled state development bank Vnesheconombank, says Economy Minister Alexei Ulyukayev.

Circle Oil Warns There Could Be Little or No Value Left for Shareholders
Friday, May 20, 2016 Circle Oil plc warns there could be little or no value left for shareholders, after taking into account its $77.5 million outstanding debt position and the nature of indicative proposals received to date.

Atlas Professionals Secures NCS Contract with Det Norske
Friday, May 20, 2016 Atlas Professionals secures a frame agreement with Det norske oljeselskap ASA to support its operations on the Norwegian Continental Shelf, commencing June 1.

Report: North Sea Operator, Supply Chain Collaboration Increasing
Thursday, May 19, 2016 Collaboration between operator companies in the North Sea oil and gas industry and the wider supply chain is increasing, according to a report by Oil & Gas UK and Deloitte.

Russia's Gazprom Expects 2016 Rebound In Output
Thursday, May 19, 2016 Gazprom will raise production this year but has slowed construction of its Power of Siberia pipeline set to serve China from 2018, says Deputy Chairman Vitaly Markelov.

Proposed Gazprom Dividend Would Cut Russian State's Income
Thursday, May 19, 2016 Gazprom proposes a dividend less than half as big as the amount implied in a government order for state companies, adding to strains on state finances caused by low oil prices.

Petrofac Secures 3-Year North Sea Services Contract Extension
Thursday, May 19, 2016 Petrofac secures a 3-year services contract extension from Total E&P UK to provide support for the Alwyn and Dunbar platforms in the Northern North Sea.

Confidence Low Among North Sea Contractors, Further Job Losses Expected
Thursday, May 19, 2016 Seventy-five percent of North Sea oil and gas contractors are less confident about their prospects on the UK Continental Shelf than they were a year ago, according to a new industry report.

Russia's TMK Sees Flat Core Earnings In 2016
Thursday, May 19, 2016 TMK, Russia's largest maker of steel pipes for the oil and gas industry, expects its 2016 core earnings to be flat compared with last year.

Norway Opens Arctic Oil Exploration in Russian Border Area
Wednesday, May 18, 2016 Norway awards licenses to 13 oil companies as it expands into an entirely new part of the Arctic Barents Sea to stimulate exploration at a time of low crude prices.

Norway Awards 10 New Licences To 13 Firms In Oil Licensing Round
Wednesday, May 18, 2016 Norway awards 10 new licenses to 13 companies in its 23rd oil licensing round for new exploration areas.

Total CEO: Oil Demand Strong, Year End Too Early For Rebalancing
Wednesday, May 18, 2016 Oil demand in 2016 will stay strong, supporting prices, but the market is unlikely to rebalance by the year end, says Total's Chief Executive.

Exxon Neftegas, Sakhalin Energy Discuss Buying Gas For Sakhalin-2
Wednesday, May 18, 2016 ExxonMobil's Russian affiliate Exxon Neftegas and Sakhalin Energy restart talks on buying gas from the Sakhalin-1 project for Sakhalin-2 expansion.

Europe Needs Independent Carbon Market regulator - Total's CEO
Wednesday, May 18, 2016 Europe needs an independent carbon market regulator with clear objectives rather than the current mix of state administrators and the European Commission that has complicated the market, Total CEO says.

Dolphin Geophysical Secures Seismic Services Contract Offshore Romania
Wednesday, May 18, 2016 Dolphin Geophysical Ltd will carry out seismic acquisition and processing services for Black Sea Oil & Gas S.R.L offshore the Romanian coast of the Black Sea.

Siem Offshore Acquires 100% Interest in Secunda Canada
Wednesday, May 18, 2016 As part of a recapitalization of Secunda, Norway's Siem Offshore has acquired Birch Hill's 50 percent ownership interest in Secunda Canada.

Russia's Novatek, Thai PTT Sign Memorandum on Upstream, LNG
Wednesday, May 18, 2016 Russia's gas producer Novatek and Thailand's largest energy company PTT sign a memorandum of understanding that foresees joint exploration and development of hydrocarbons and supplies of liquefied natural gas.

NPD Grants Tullow, Total Drilling Permits Offshore Norway
Wednesday, May 18, 2016 The Norwegian Petroleum Directorate grants Tullow Oil Norge AS and Total E&P Norge AS drilling permits for 2 separate wells offshore Norway.

BP Exploration Boss Leaves in Reorganization
Tuesday, May 17, 2016 BP's head of exploration Richard Herbert is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits.

Gazprom, PetroVietnam to Jointly Develop Oil, Gas Projects
Tuesday, May 17, 2016 Gazprom and PetroVietnam sign a deal to jointly develop new oil and gas projects and cooperate on gas-based power generation.

Russia's Putin Order Opens Way For Entire State Stake Sale In Bashneft
Tuesday, May 17, 2016 Russian President Vladimir Putin excludes mid-sized oil producer Bashneft from the list of strategically important companies, opening the way for the entire state's stake sale.

Ithaca Energy Turns Loss to Profit in 1Q, Maintains Capex
Monday, May 16, 2016 Ithaca Energy turned loss to profit in the first quarter of 2016, maintaining its capital expenditure of $50 million for the year in the process.

InfraStrata: Drilling Begins at Woodburn Forest-1 Well, Northern Ireland
Monday, May 16, 2016 Drilling commences at the Woodburn Forest-1 well, located in County Antrim, Northern Ireland.

BP Doubles Culzean Field Stake
Monday, May 16, 2016 BP plc doubles its interest in the Culzean development in the UK Central North Sea to 32%, following its acquisition of an additional 16% interest from JX Nippon.

Total Officially Opens Shetland Gas Plant
Monday, May 16, 2016 Total officially opens a new gas plant on the Shetland Islands, following the production start-up of the Laggan and Tormore gas and condensate fields earlier this year.

New Energy Act Becomes Law, Helps OGA Support North Sea
Friday, May 13, 2016 A new Energy Act that will help the Oil and Gas Authority to "better support" the North Sea industry has come into law.

JKX Oil & Gas Appoints New PPC General Director
Friday, May 13, 2016 Eastern Europe-focused energy firm JKX Oil & Gas plc appoints Daniel Valk as the new general director of its wholly owned subsidiary Poltava Petroleum Company.

Russia Unlikely To Take Part In June OPEC Meeting, Separate Talks Possible
Friday, May 13, 2016 Russia is unlikely to part in an OPEC meeting in Vienna scheduled for June 2, says Russian Energy Minister Alexander Novak.

New OMV CFO to Start July 1
Friday, May 13, 2016 OMV Aktiengesellschaft's new chief financial officer, Reinhard Florey, will start his role July 1.

NPD Grants Wintershall Drilling Permit for North Sea Well
Friday, May 13, 2016 The Norwegian Petroleum Directorate grants Wintershall Norge AS a drilling permit for wellbore 35/11-19 S, located in production license 248 F in the North Sea.

Petroceltic Says Worldview To Take Control Of Group
Thursday, May 12, 2016 Petroceltic International Plc says a court examiner has selected its largest shareholder, Worldview Capital Management, to take control of the group.

Russian Tycoon Timchenko Transfers Novatek Stake To Volga Group
Thursday, May 12, 2016 Gennady Timchenko transfers 13.2% of his direct equity stake in Novatek to Volga Group.

Russia's Novak: Global Oil Market Won't Balance Before 2017
Thursday, May 12, 2016 Russian Energy Minister Alexander Novak says the global oil surplus is at 1.5 million barrels per day (bpd) and that the market might not balance out until the first half of 2017.

Halliburton Secures Maria Project Service Contract from Wintershall
Thursday, May 12, 2016 Wintershall Norge AS has awarded a 4-year service contract to Halliburton Norge AS to support its Maria Project in the Norwegian Sea.

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