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Regional News: Europe & Russia

 
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Oil & Gas UK Appoints New Chief Executive
Friday, February 27, 2015 Deidre Michie is appointed as the new chief executive of trade body Oil & Gas UK after a 30-year career at Royal Dutch Shell.

Scottish Subsea Technology Calls in Administrators, 77 Jobs Lost
Friday, February 27, 2015 Accountancy firm KPMG is appointed as administrator of Specialist Subsea Services Limited amid cash flow difficulties at the company.

Russia's Novatek Says Weaker Rouble Slashes 2014 Profit
Friday, February 27, 2015 Novatek's 2014 net income more than halves due to a weaker rouble.

Russia's Rosneft May Get 300B Roubles from National Wealth Fund
Friday, February 27, 2015 Russian state oil firm Rosneft may get $5 billion from Russia's National Wealth Fund to finance five projects.

RWE To Complete DEA Disposal Very Soon
Friday, February 27, 2015 RWE says closure of the sale of its oil and gas unit DEA to Russian tycoon Mikhail Fridman is imminent; media reports completion date as March 1.

  



SeaBird Warns of Continued Weakness in the Seismic Market
Friday, February 27, 2015 SeaBird Exploration warns that it expects the current softness in the market for seismic data acquisition to continue to adversely affect the seismic survey industry in 2015.

Maersk Positions Self for 'New Oil Reality' as Profit Fall
Thursday, February 26, 2015 Maersk Drilling is bracing for the "new oil reality" facing the rig market by implementing cost-cutting and efficiency enhancement programs.

Repsol Defies Oil, Gas Sector Gloom with Upbeat Results
Thursday, February 26, 2015 Repsol posts a 27.1% increase in its adjusted net profit for 2014.

Top Oil Drillers Face Years Of Pain, Get A Grip On Cost
Thursday, February 26, 2015 The world's biggest offshore drillers reports plunging earnings and orders but manages to get a grip on costs to improve their chances of riding out a sectoral crisis that could last.

Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015 UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.

Petrofac FY Net Profit Falls, Order Book Grows
Wednesday, February 25, 2015 Oilfield services firm Petrofac reports a fall in 2014 net profit due to overruns on two major projects.

Wood Group PSN Appoints New CEO
Wednesday, February 25, 2015 Energy services firm Wood Group PSN appoints Dave Stewart as its new CEO.

UK Shale Gas Firm Cuadrilla Hits Further Planning Snag
Wednesday, February 25, 2015 Cuadrilla hits another obstacle to getting the gas out of the ground when a local council refuses it a permit for a site where it wanted to take geological measurements.

San Leon Announces Its First Polish Commercial Gas Find
Wednesday, February 25, 2015 Junior explorer San Leon makes its first commercial gas discovery in Poland.

Gazprom Oil Arm Moves Trading From Austria Back To Russia
Wednesday, February 25, 2015 Gazprom's oil arm is shifting its trading operations from Austria back to Russia.

UK's Weir Warns of Significant Revenue Fall as Oil Industry Slows
Wednesday, February 25, 2015 Weir Group says uncertainty in the oil and gas industry will significant reduce its 2015 revenue.

MOL Swings to Loss, Even Though Downstream Performs Well
Tuesday, February 24, 2015 MOL swings to a quarterly loss partly due to one-off costs and a steep fall in crude prices.

Analysts: Maersk May Reward Shareholders As Oil Unit Suffers
Monday, February 23, 2015 Moller-Maersk may announce a second share buyback scheme in its 110-year history, analysts say, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices.

Europa Spuds Kiln Lane-1 Well Onshore UK
Monday, February 23, 2015 Europa Oil & Gas starts drilling the Kiln Lane-1 conventional exploration well in northeast Lincolnshire.

Chevron Says Plans To Give Up Romania Shale Gas Project
Monday, February 23, 2015 Chevron says it will give up shale gas exploration plans in Romania, after an assessment showed the Black Sea state does not compete favorably with other investment opportunities.

Russia's Eurasia Drilling Says Merger With Schlumberger Delayed
Friday, February 20, 2015 Eurasia Drilling says it was delaying a deal to sell a stake in the company to Schlumberger while it waited for approval from a Russian regulator.

OPITO Backs UK Campaign Encouraging Women to Pursue Careers in Oil, Gas
Friday, February 20, 2015 OPITO throws its support to the UK Government campaign Not Just For Boys. The purpose of the campaign is to increase the presence of women in traditionally male-dominated fields.

Songa Offshore Expects 'Challenging Year'
Friday, February 20, 2015 Rig operator Songa Offshore expects 2015 to be a 'challenging year' as it expects more rigs to leave the Norwegian Continental Shelf.

GE Oil & Gas Adjusts Recruitment Strategy
Friday, February 20, 2015 Rigzone catches up with Harry Elsinga, VP Human Resources at GE Oil & Gas.

EU to 'Reframe' Russian Energy Ties When Time is Right
Friday, February 20, 2015 The EU will consider reframing energy relations with Russia when the time is right but right now it is focused on building a strategic gas partnership with Ukraine, according to a draft document.

UKOG Signs Deal to Increase Stake in Markwells Wood to 100%
Friday, February 20, 2015 UK Oil & Gas signs a deal that see its acquire a 40% interest in the Markwells Wood license in England's Weald Basin, raising its stake in the license to 100%.

OMV's Profits Buoyed by Downstream Business
Thursday, February 19, 2015 Austria's OMV posts better-than-expected fourth-quarter profits but expects North Sea Brent oil to remain at between $50 and $60 per barrels this year.

Oil, Gas Flow from 2nd Reservoir at Wressle-1 Well
Thursday, February 19, 2015 A test of a new zone at the onshore UK Wressle-1 well sees oil flow at 182 barrels per day, while producing gas at 456,000 cubic feet per day.

New Centrica Head Cuts Dividend after Energy Prices Fall
Thursday, February 19, 2015 UK energy firm Centrica cuts dividend and its 2015-2016 exploration and production budget due to weak energy prices.

Maersk Opens Aberdeen Offshore Drilling Simulation, Well Control Facility
Wednesday, February 18, 2015 Maersk Training opens a new advanced training facility in Kingswells, Aberdeen purposed to create a more competent workforce.

Aker Solutions to Cut Norway Jobs on Weak Oil Market
Wednesday, February 18, 2015 Norwegian oil services firm Aker Solutions plans to cut its domestic workforce in response to lower demand.

European Services Firms Technip, Dolphin Report Upbeat Results
Wednesday, February 18, 2015 France's Technip and Norway's Dolphin Group both report ending 2014 with strong order books.

Minister: Croatia Gets 7 Bids For Onshore Oil/Gas Exploration
Wednesday, February 18, 2015 Croatia receives 7 bids at an international tender for onshore exploration of oil and gas in the northern Drava river basin and east of the country, Economy Minister Ivan Vrdoljak says.

Eni Reassures On Dividend, Gears Up For Investment Cuts
Wednesday, February 18, 2015 Eni reassures investors with a small dividend increase while pledging to cut capital spending as low oil prices depress fourth quarter profit.

Safety Board: Dutch Gas Field Earthquake Dangers Ignored for Decades
Wednesday, February 18, 2015 The Dutch Safety Board says Shell, Exxon and the Dutch government ignored the danger of earthquakes caused by gas extraction at the Groningen gas field for decades.

UK's Wood Group Says Full-Year EBITA Rises; Shares Gain
Tuesday, February 17, 2015 Energy services firm John Wood Group reports a 3.1-percent increase in earnings.

Eidesvik Takes Delivery of 'Viking Neptun' Offshore Construction Ship
Tuesday, February 17, 2015 Eidesvik Offshore takes delivery of a new offshore construction vessel named 'Viking Neptun'.

Sound Oil Authorized to Drill 2nd Well on Carita License
Tuesday, February 17, 2015 Sound Oil receives drilling authorization to drill a second well on the Carita license, onshore northern Italy.

Oilfield Services Firm Hunting to Cut Jobs, Realign Business Units
Monday, February 16, 2015 Oilfield services firm Hunting plans to cut jobs and take other cost-saving measures as it faces a declining oil rig count.

Europa Agrees Farm-Out Deal for Onshore France Permit
Monday, February 16, 2015 Europa Oil & Gas signs a farm-out deal with Vermillion REP SAS in relation to its Tarbes Val d'Adour Permit, onshore France.

JKX Launches Arbitration Proceedings against Ukrainian Government
Monday, February 16, 2015 JKX Oil & Gas launches arbitration proceedings against the Ukrainian government, seeking repayment of $180 million in rental fees it has paid on the production of oil and gas in Ukraine since 2011.

BW Offshore: Demand for New Leased Units 'Currently Uncertain'
Monday, February 16, 2015 BW Offshore says that despite short-term demand for new leased floating production units, it still expects outsourced production to be a cost-effective solution for oil firms.

Russia's Rosneft Says Replaced Reserves By 154%
Monday, February 16, 2015 Rosneft reports a 154% hydrocarbon reserves replacement ratio in 2014 thanks to increased drilling and exploration.

Saipem Misses Guidance Due To Balance Sheet Clean Up, Wary On 2015
Monday, February 16, 2015 Saipem misses full-year forecasts and gives a wary outlook for 2015 after booking more than $567 million of charges to clean up a balance sheet damaged by falling oil prices.

Aker Provides Oilfield Services Cheer with Upbeat Results
Friday, February 13, 2015 Bucking the current gloomy outlook for oilfield services, Aker Solutions produces upbeat results and increases its order book.

IEA Confirms Chief Economist Birol Elected Executive Director
Friday, February 13, 2015 IEA elects Turkish economist Fatih Birol as executive director, the Paris-based agency confirms, a day after it was announced by Turkey.

Aitken Replaces Louden as Interwell UK Managing Director
Friday, February 13, 2015 Oilfield services firm Interwell UK sees UK country manager David Aitken take over as managing director as Andrew Louden leaves after four years at the helm.

Minister: Higher Dutch Gas Production Possible from July
Friday, February 13, 2015 The Dutch government could ramp up gas production during the second half of the year after curbing output at its giant Groningen field.

EU's Top Court: Shale Gas Drillers Have To Consider Cumulative Impact
Friday, February 13, 2015 The European Union's top court has clarified EU rules on shale gas exploration in a judgment that could require some member states to change their legislation, lawyers say.

Oil's Fall Rocks Already Reeling Polish Shale Gas Hopes
Thursday, February 12, 2015 Poland, once Europe's greatest hope for shale energy, is reeling from a rapid change in fortunes as US companies walk away and low oil prices postpone any realistic start to commercial drilling.

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