Regional News: Europe & Russia

 
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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.

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.

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.

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).

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.

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.

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.

Calls Made for Oil, Gas Worker Discrimination Investigation
Monday, February 13, 2017 Calls for an investigation into discrimination against former oil and gas workers looking to find work in other sectors have been made, the BBC reports.

UK Oil, Gas Companies to be 'Disproportionately Affected' by New Levy
Monday, February 13, 2017 A new apprenticeship levy scheduled to come into effect in April will hit the UK oil and gas industry harder than other sectors, OPITO suggests.

SNP Promotes Drive to Improve Gender Equality in STEM
Monday, February 13, 2017 In the wake of the UN's International Day of Women and Girls in Science, the Scottish National Party promotes its drive to improve gender equality in Science, Technology, Engineering and Math (STEM).

IEA Says Record OPEC Cut Compliance Helps Oil Market Rebalance
Friday, February 10, 2017 Global oil output plunged in January as OPEC and non-OPEC producers curbed supply to accelerate a market rebalancing.

New Oil, Gas Technology Center Opens in Aberdeen
Friday, February 10, 2017 A new $225 million Oil & Gas Technology Center opens in Aberdeen, which aims to become the 'go to' place for oil and gas technology in the UK and internationally.

Shell's Departing CFO To Join Rio Tinto As Non-Executive Director
Friday, February 10, 2017 Royal Dutch Shell's CFO, Simon Henry, will join miner Rio Tinto as non-executive director from July 1 after he leaves the oil major.

Sequa Petroleum to Cease Exploration, Production Activity in Norway
Friday, February 10, 2017 Sequa Petroleum N.V. plans to cease its exploration and production activity in Norway, conducted through Tellus Petroleum AS, and focus on acquiring assets elsewhere in Europe.

NPD Grants Consent for the Expansion of Nyhamna Gas Plant
Friday, February 10, 2017 The Norwegian Petroleum Directorate grants consent for the expansion of the gas plant at Nyhamna, which will allow the Ormen Lange field in the Norwegian Sea to increase production.

DNV GL Launches Digital Platform to Facilitate Collaboration
Thursday, February 09, 2017 Oil and gas industry advisor DNV GL launches a new digital platform to facilitate connections between different industry players, domain experts and data scientists.

LGO Plans to Obtain New 30-Year Production Concession at Spanish Field
Thursday, February 09, 2017 LGO Energy plc wants to obtain a new 30-year production concession covering the Ayoluengo field in northern Spain, through a wholly owned subsidiary.

NPD Grants Lundin Drilling Permit for Edvard Grieg Appraisal Well
Thursday, February 09, 2017 The Norwegian Petroleum Directorate grants Lundin Norway AS a drilling permit for an appraisal well on Edvard Grieg in production license 338.

Unite, GMB Receive Formal Pay Increase Offer from OCA
Thursday, February 09, 2017 UK unions Unite and GMB receive a formal pay increase offer from the Offshore Contractors Association, according to a joint statement from the unions.

AFBE-UK Scotland Launches 2017 Programs for Young Oil, Gas Engineers
Wednesday, February 08, 2017 Aberdeen-based AFBE-UK Scotland begins its 2017 initiatives aimed at advising engineering students on securing their first industry job.

A.P. Moller-Maersk Misses Q4 Forecasts As Impairments Weigh
Wednesday, February 08, 2017 A.P. Moller-Maersk missed 4Q profit expectations as the world's largest shipping company pressed on with changes, taking impairments, slashing its dividend and announcing a new chairman.

Doosan Babcock: Decision to Close Renfrew Facility 'Not Taken Lightly'
Wednesday, February 08, 2017 The decision to close Doosan Babcock's Renfrew manufacturing facility was not taken lightly, a company spokesperson said in a statement sent to Rigzone.

Tullow Falls To Third Annual Loss On More Exploration Write-Offs
Wednesday, February 08, 2017 Tullow Oil misses forecasts to fall to a 3rd consecutive annual loss as it writes off more of its Africa-focused exploration business, sending its shares lower.

Egdon Vows to Fight Council's Refusal to Grant Permit for Wressle
Tuesday, February 07, 2017 Egdon Resources plc pledges to submit a formal appeal against the North Lincolnshire Council Planning Committee's refusal to grant planning consent to progress the Wressle oil field.

Xodus Report Reveals 'Significant' Volume Increase at PEDL 137, Horse Hill
Tuesday, February 07, 2017 A new report from Xodus Group reveals a "significant" volume increase in the gross PEDL 137 Upper Portland area, which contains the Horse Hill-1 oil discovery.

BP Lifts Break-Even Oil Price After Profit Miss
Tuesday, February 07, 2017 BP raises the oil price at which it can balance its books this year to $60 a barrel, due to higher spending, following a string of investments as annual earnings fell for a second consecutive year.

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