Regional News: Europe & Russia

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Lundin's Development Expenditure to Top $1B in 2017
Thursday, January 19, 2017 Lundin's development expenditure in 2017 will total $1.095 billion.

Oil, Gas Firms Make Global 100 Most Sustainable Corporations List
Thursday, January 19, 2017 Ten oil and gas related companies have made Corporate Knights' 2017 Global 100 Most Sustainable Corporations list.

The Church of England Conditionally Backs Fracking
Thursday, January 19, 2017 The Church of England has conditionally backed fracking in the UK but warned that any development of shale gas reserves in the country must not distract or delay efforts to expand low-carbon renewable energy.

Croatia Steps Up Plans For Buyout Of Oil Group INA
Thursday, January 19, 2017 The Croatian government has stepped up plans to take full control of oil group INA by setting up a special body to prepare a model for the buyout of Hungarian energy company MOL's 49% stake.

Big Oil Back On The Acquisition Trail As Outlook Brightens
Thursday, January 19, 2017 The world's top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves.


Mercuria Introduces Blockchain To Oil Trade With ING, Socgen
Thursday, January 19, 2017 Trading house Mercuria is working with banks ING and Societe Generale on the first large oil trade based on blockchain technology, as the tradition-bound oil industry tests out digital technology.

IEA: OPEC Output Cuts Under Security As Market Tightens
Thursday, January 19, 2017 World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised.

Gazprom Chairman, Moldova President Discuss Gas Cooperation
Wednesday, January 18, 2017 Alexey Miller, chairman of the Gazprom management committee, and Igor Dodon, president of the republic of Moldova, discuss ongoing and future cooperation in the gas industry.

Norway Report Shows Net Jobs Creating Since 2013
Wednesday, January 18, 2017 Around 50,000 jobs have been lost in Norway's oil industry since 2013 as investments dry up amid a fall in crude prices.

Rystad Energy: Global Oil, Gas Discoveries Drop To 70-Year Low
Wednesday, January 18, 2017 Oil and gas discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil prices.

Rosneft Says Sold Saras Stake In Part Because Of Sanctions
Wednesday, January 18, 2017 Rosneft says it sold its stake in Italian refiner Saras in part because sanctions prevented it from taking a controlling stake in the refiner.

Russia Launches New Domestic Oil, Gas Pipelines
Wednesday, January 18, 2017 Russia launches a new domestic gas pipeline and 2 new oil pipelines at a ceremony attended by President Vladimir Putin.

Russia's Zapolyarye-Purpe Oil Link To Pump 7.5 MM T In 2017
Wednesday, January 18, 2017 Russia's Zapolyarye-Purpe oil pipeline will pump 7.5 million tons of oil in 2017.

Statoil Granted Drilling Permit for Well 6507/3-12 Offshore Norway
Wednesday, January 18, 2017 The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 6507/3-12, located in production license 159B, offshore Norway.

Norway Awards 56 Oil And Gas Licences In Mature Areas
Tuesday, January 17, 2017 Norway's oil ministry awarded 56 offshore exploration licences on Tuesday in a bid to lift output from acreage located near existing oil and gas fields.

Oil Prices Might Eventually Feed Into Core Inflation, ECB's Nowotny Says
Tuesday, January 17, 2017 Core inflation in the euro zone has not increased significantly but a rise in energy prices might eventually drag it upwards, European Central Bank Governing Council member Ewald Nowotny says.

E&P Consultants Earning 27% Less than in 2013
Tuesday, January 17, 2017 Consultants currently working in the exploration and production sector are earning, on average, 27% less than they did in 2013, according to consultancy firm OPC.

Eni: Oil, Gas Discovery in Norwegian Sea
Tuesday, January 17, 2017 Eni announces that a new oil and gas discovery has been made within the PL128/128D licenses in the Norwegian Sea.

Kremlin Says VTB Financing Rosneft Deal Not On Its Agenda
Tuesday, January 17, 2017 Russian state bank VTB financing the privatisation of Rosneft last year is a commercial issue which is not on the Kremlin's agenda, Kremlin spokesman Dmitry Peskov says.

Modest Recovery Within UK Upstream Sector Expected in 2017
Tuesday, January 17, 2017 There will be a modest recovery within the UK upstream oil and gas sector this year, according to global natural resources consultancy Wood Mackenzie.

Aker BP Positioned for Further Growth
Monday, January 16, 2017 Independent exploration and production company Aker BP ASA is positioned for further growth, according to the firm's CEO, Karl Johnny Hersvik.

Russian Oil Output Averaged 11.1 MM Bpd From Jan. 1-15
Monday, January 16, 2017 Russian oil and gas condensate production averaged 11.1 million barrels per day (bpd) from Jan. 1-15.

EU Energy Watchdog: Serbia Should Rework Gas Deal With Gazprom
Monday, January 16, 2017 Serbia should renegotiate its long-term gas supply deal with Russia's Gazprom, a body in charge of extending the EU's energy policy says.

Process Safety Management: Overcoming the Silo Factor
Friday, January 13, 2017 Review of process safety risk assessments detects a common culprit.

Report: CHC to Shut Down Bergen Base, Shed 100 Jobs
Friday, January 13, 2017 Offshore helicopter operator CHC will shut down its base in Bergen, Norway, and shed around 100 employees, according to a report from local newspaper Bergens Tidende.

Russia's Lukoil CEO, His Deputy Sell Shares Worth $16.4 MM
Friday, January 13, 2017 Lukoil's CEO Vagit Alekperov and his deputy Leonid Fedun sell Lukoil shares worth $16.375 million in total.

Russia's Novatek Says Gas Output Down 2.7% In 2016
Friday, January 13, 2017 Russia's No.2 natural gas producer Novatek says its gas output declined by 2.7% in 2016, while gas condensate and oil production jumped by almost 37% as it commissioned new fields.

Jesse Norman to Take on Full Energy Brief at UK Energy Department
Friday, January 13, 2017 UK MP Jesse Norman has confirmed through social media site Twitter that he will take on the full energy brief at the UK Department for Business, Energy & Industrial Strategy.

Faroe: Bone Exploration Well in Barents Sea Spud
Thursday, January 12, 2017 Independent oil and gas firm Faroe Petroleum announces the commencement of the Bone exploration well 7318/12-1, which is located in the western part of the Norwegian Barents Sea.

Premier Oil Expects Weak Pound To Help Bottom Line
Thursday, January 12, 2017 Premier Oil expects to continue reaping benefits from weak sterling this year, as the depreciating currency has brought down the cost of investments in Britain at a time of low oil prices.

Aker Solutions May Axe up to 650 Jobs
Thursday, January 12, 2017 Oilfield services company Aker Solutions confirms that it may cut around 650 positions, mainly by shedding jobs in Norway, the UK and India.

NPD: 2017 Set to be Another Demanding Year
Thursday, January 12, 2017 The next 12 months will be yet another demanding year for the industry, according to the Norwegian Petroleum Directorate, although the decline in investments is slowing.

Russia's Novak To Attend Vienna Oil Deal Talks This Month
Wednesday, January 11, 2017 Russian Energy Minister Alexander Novak will travel to Vienna later this month to take part in talks aimed at monitoring how well a deal to cut oil output is being implemented.

Total UK Production Increases 2.1% on Growing Oil, Gas Output
Wednesday, January 11, 2017 The monthly estimate of total UK production increased by 2.1% in November 2016, mainly due to an increase in oil and gas output, according to figures from the Office for National Statistics.

OHSLG: S92 Helicopters to Return to Action Following Grounding
Wednesday, January 11, 2017 The Offshore Helicopter Safety Leadership Group (OHSLG) expects the phased return of Sikorsky S92 helicopters on Wednesday.

Oil, Gas Investment to Grow in 2017 for First Time since Price Crash
Wednesday, January 11, 2017 The oil and gas investment cycle will show the first signs of growth in 2017 since the oil price crash in 2014, according to a new report from Wood Mackenzie.

Tullow's Founder Heavey to Step Down as CEO
Wednesday, January 11, 2017 Tullow Oil plc's chief executive officer and founder, Aidan Heavey, will step down as the company's CEO.

Rosneft Signs Oil Supply Deal With Firm Linked To Qatar And Glencore
Tuesday, January 10, 2017 Rosneft has concluded a deal with a company linked to Qatar and commodities trader Glencore to supply up to 55 million tons of crude in total over a 5-year period.

Report: Centrica to Cut UK Jobs
Tuesday, January 10, 2017 Centrica plc will cut 25 jobs from its exploration and production operations in Aberdeen, according to a report from the BBC.

Bilfinger Secures Services Contract, Retains 150 Jobs
Tuesday, January 10, 2017 Bilfinger Salamis UK secures a service contract extension, which will support employment for over 150 personnel, according to the company.

SNP: UK Government's New Energy Department Suffering from Confusion
Tuesday, January 10, 2017 The UK government's new energy department is suffering from widespread confusion amongst its own staff about its role and responsibilities, the SNP has claimed.

AkerBP, Cairn Energy Make Jefferies Top Pick List
Monday, January 09, 2017 AkerBP ASA and Cairn Energy plc have made investment bank Jefferies' 'top pick' list, while Genel Energy plc and Tullow Oil plc have been given an 'underperform' rating by the firm.

Maersk Oil DBU to Shed up to 160 Jobs
Monday, January 09, 2017 Maersk Oil Danish Business Unit (DBU) will "simplify its organization to improve efficiency," which will result in the reduction of up to 160 positions.

Norway's New Oil Minister Expects More Investment Decisions This Year
Monday, January 09, 2017 Norway's oil minister believes energy firms will sanction more projects this year compared to 2016, when five field development plans were presented to authorities for approval.

Russia Cuts Oil Output By 100,000 Bpd In Early Jan
Monday, January 09, 2017 Russia cut its oil production in early January by around 100,000 barrels per day (bpd) from the previous month after an agreement with OPEC to cap global crude output.

North Sea Risks Becoming 'Net Drain' on UK Resources
Monday, January 09, 2017 The North Sea risks becoming a net drain on UK resources as taxpayers face a $29 billion (GBP 24 billion) bill for decommissioning oil and gas fields in the region, the Financial Times reports.

Unite General Secretary Calls on Governments to Protect UK Oil Industry
Monday, January 09, 2017 Unite's General Secretary has called on governments in London and Edinburgh to do more to protect the UK's oil industry, according to the BBC.

Saudis, Russia To Diverge On Speed Of Oil Output Cuts
Friday, January 06, 2017 Reuters market analyst John Kemp gives his views on the effects OPEC and non-OPEC member output cuts.

Oil & Gas UK Publishes Offshore Drone Guidelines
Friday, January 06, 2017 Oil & Gas UK has published a new set of guidelines to help guide the growing use offshore of drones, or Unmanned Aircraft Systems (UAS).

IKM Secures Johan Sverdrup Services Contract
Friday, January 06, 2017 IKM Testing Thailand Co. Ltd has been awarded a service contract by Aibel AS for the Johan Sverdrup drilling platform, located in the Norwegian North Sea.

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