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Saipem Counting the Cost of Going Solo in Low Oil Price World
Friday, February 12, 2016 Low oil prices and little sign of recovery anytime soon leaves Italian oil contractor Saipem ill-prepared to cope with a new life independent from its former parent Eni.
Aker Posts Lower Profits, Cuts Workforce Salary
Friday, February 12, 2016 Aker Solutions becomes the latest oil and gas services company to announce a fresh round of cuts amid the lower oil price.
North Energy, Explora Petroleum Combine to form North E&P AS
Friday, February 12, 2016 North Energy and Explora Petroleum AS combine to form a single company named North E&P AS, following the completion of North’s acquisition of Explora.
PJSC Ukrnafta Forced to Stop Production at Ukrainian Fields
Friday, February 12, 2016 PJSC Ukrnafta has been forced to stop oil and gas production at the Yuriivske, Golubovske and Lopushnianske fields due to the withdrawal of licenses.
Polarcus Secures 4D Survey Project Offshore Norway
Friday, February 12, 2016 Polarcus Limited will conduct a 4D survey project over a field offshore Norway in May this year.
Maersk Drilling Sees Overcapacity On Rigs For The Foreseeable Future
Thursday, February 11, 2016 As much as one third of the global offshore fleet of oil drilling rigs could be idled in 2016 as energy firms scale back investments on the back of weak crude prices.
Maersk CEO: Oil Above $55 Is A Long-Term Inevitability
Thursday, February 11, 2016 After testing a 12-year low, the price of oil simply has to go up.
Russia's Gazprom Looking To Raise $2B Syndicated Loan
Thursday, February 11, 2016 Gazprom is looking to raise a $2 billion syndicated loan from international banks, according to two banking sources.
First Phase 2015 Atlantic Margin Licensing Round Awards Announced
Thursday, February 11, 2016 Eight companies have been awarded new acreage in the southern Porcupine Basin as part of the 2015 Atlantic Margin Oil and Gas Exploration Licensing Round.
DNO, Total Report Record Output amid 4Q Losses
Thursday, February 11, 2016 European energy firms DNO ASA and Total record report production outputs in 2015 amid fourth quarter losses.
Technip Secures Statoil Services Contracts
Thursday, February 11, 2016 Technip secures fabrication and installation contracts by Statoil for the Johan Sverdrup and Oseberg Vestflanken developments.
Total CEO: Oil, Gas Industry Must Engage in Climate Change Challenge
Thursday, February 11, 2016 Total CEO Patrick Pouyanne says the energy industry needs to get involved with the issue of climate change in a positive way after December's COP21 deal.
Exor To Buy Welltec Stake For $116M
Wednesday, February 10, 2016 Exor will buy a 13% stake in energy industry equipment maker Welltec for $116 million.
Aker to Deliver Johan Sverdrup Concept Study
Wednesday, February 10, 2016 Aker Solutions will work on a concept study for a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field.
Russia's Sechin Floats Idea Of Oil Output Cuts
Wednesday, February 10, 2016 Rosneft floats the idea of a coordinated output cut by major oil-producing countries to prop up sagging prices.
Seanamic Group Expands Umbilicals Business
Wednesday, February 10, 2016 Seanamic Group expands umbilical business with a new Umbilical International facility in Glasgow.
European Energy Firms Post Billion Dollar Losses in 2015
Wednesday, February 10, 2016 Tullow Oil and Maersk Oil register billion dollar losses in 2015, amid an ever-declining low oil price.
BP: US Shale Oil Output To Double By 2035
Wednesday, February 10, 2016 US shale oil production will double over the next 20 years as drillers that became more efficient amid a slump in oil prices unlock new resources, BP says.
Voestalpine Reports Lower Than Expected 3Q EBIT
Wednesday, February 10, 2016 Voestalpine reports a higher than expected fall in its 3Q operating profit due to the effects of the sharp price falls and overcapacity in the oil and gas sector.
Aibel Working on Johan Sverdrup Concept Study
Tuesday, February 09, 2016 Aibel is working on a concept study for the second phase of the Johan Sverdrup development.
European Services Companies Secure Offshore Engineering Contracts
Tuesday, February 09, 2016 France's Technip and Scotland-headquartered Wood Group PSN secure offshore engineering contracts in the Gulf of Mexico and North Sea, respectively.
Frontera Signs Upstream Cooperation MOU with UkrGasVydobuvannya
Tuesday, February 09, 2016 Frontera Resources Corporation signs an MOU for upstream cooperation with UkrGasVydobuvannya, a subsidiary of Ukraine's national energy company Naftogaz.
Russia's Lukoil Says Proved Oil Reserves Down to 12.6B Barrels
Tuesday, February 09, 2016 Russia's number-two oil producer Lukoil says its proved oil reserves were 12.6 billion barrels at the end of 2015, down from 13.6 billion barrels at the end of 2014.
Sound Energy Confirms Clean-Up Operations at Nervesa
Tuesday, February 09, 2016 Sound Energy confirms that clean-up operations are continuing at its onshore Nervesa gas discovery after first gas was achieved earlier this month.
IEA Sees Global Oil Glut Worsening, OPEC Deal Unlikely
Tuesday, February 09, 2016 The world will store unwanted oil for most of 2016 as declines in US output take time while OPEC is unlikely to cut a deal with other producers to reduce output, the IEA says.
GE Oil Deal Offers New Model to Prevent BP-Like Crude Spills
Monday, February 08, 2016 General Electric Co. is expanding its focus on offshore drilling rig safety with a new business that will take over handling of massive underwater equipment designed to prevent well blowouts and oil spills.
Extended Flow Test Commences Over Horse Hill-1
Monday, February 08, 2016 Horse Hill Developments Limited commences operations to conduct a planned extended flow test over 3 separate zones in the Horse Hill-1 oil discovery well.
Portugal's Galp Quarterly Net Profit Up 9%
Monday, February 08, 2016 Portuguese oil and gas firm Galp Energia posts a greater-than-expected 4Q profit of $166 million.
Total Brings Laggan-Tormore Onstream
Monday, February 08, 2016 Total starts production from the Laggan and Tormore gas and condensate fields, which are located in the West of Shetland area.
Wood Mac: Producers Continue to Run Loss-making Oilfields
Friday, February 05, 2016 Less than 0.1% of global production has been halted to date even though 3.5% of global supply is currently cash negative, says Wood Mackenzie.
Sources: Total-Led Consortium Bids for Greek Offshore Gas Drilling Block
Friday, February 05, 2016 France’s Total, along with Hellenic Petroleum and Edison, bid for one offshore gas block in the west of Greece.
Cuadrilla Faces Five-Week Public Hearing on Fracking in UK
Friday, February 05, 2016 A pause on fracking in northwest England that cooled expansion of the practice in the rest of the country may end after a five-week public inquiry scheduled next week.
BG Group's Earnings Drop
Friday, February 05, 2016 BG Group's upstream business posts earnings of $4.1 billion at the EBITDA level in 2015, marking a 35 percent decrease from 2014.
EU Clears Acquisition Of Cameron By Schlumberger
Friday, February 05, 2016 The European Union clears the purchase of equipment maker Cameron International by Schlumberger, the world's No.1 oilfield services provider.
Dong Energy Expects Positive Cash Flow from Oil, Gas in 2017
Thursday, February 04, 2016 Denmark's Dong Energy confirms plans to press ahead with an IPO, saying it expects positive cash flow from its struggling oil and gas division in 2017.
European Oil Giants Post Steep Profit Falls
Thursday, February 04, 2016 Oil giants Shell and Statoil reveal steep falls in profit in their fourth quarter financial results.
Russia's Sakhalin-2 LNG Plant Expects Maintenance Works to Last until March
Thursday, February 04, 2016 Russia's sole liquefied natural gas plant Sakhalin-2 expects maintenance works to last until March.
Sound Brings Nervesa Online
Thursday, February 04, 2016 Sound Energy achieves first commercial production at the operated onshore Nervesa gas discovery, located in northeast Italy.
Commodity Bull Cycle Seen Rising From Ashes as Oil Bottoming
Wednesday, February 03, 2016 Europe's largest publicly traded asset manager says the oil price could rally as high as $50 a barrel in a few months.
CGG Completes Rights Issue, Says Has Liquidity to Weather Crisis
Wednesday, February 03, 2016 French seismic survey group says it has raised $387 million in a rights issue that should help it weather crisis in oil services.
Lundin Doubles Year-End Losses in 2015
Wednesday, February 03, 2016 Lundin posts a loss of $866.3 million in 2015, which was more than double the $431.9 million loss registered by the company in 2014.
Oil Rises After Russia Says Open to Talking to OPEC
Wednesday, February 03, 2016 Oil rose after Russia repeated its willingness to talk with OPEC, but analysts say rising US crude inventories could put slow the the rally.
European Commission extends Halliburton-Baker Hughes deal review
Wednesday, February 03, 2016 Oilfield services provider Baker Hughes says the European Commission had extended the review of its merger with Halliburton by 20 working days.
Ombrina Mare Project Development Stymied by New Drilling Ban
Wednesday, February 03, 2016 Rockhopper Exploration is considering suing the Italian government after it reintroduces a ban on offshore that will halt development of the firm's Ombrina Mare field.
IMF: Azerbaijan Needs Reforms To Weather Cheap Oil
Wednesday, February 03, 2016 The IMF is urging Azerbaijan to boost reforms and diversify its economy to withstand global crude prices hitting growth and budget.
Minister: Greece to Decide on Three Gas Exploration Licences Soon
Tuesday, February 02, 2016 Greece will decide soon on the award of three onshore natural gas exploration licenses in the west of the country, according to the country's energy minister.
A New Global Oil Deal Could Draw Lessons From 1998
Tuesday, February 02, 2016 After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices.
BP to Cut 7,000 Jobs in 2016/2017 after Worst Results for Two Decades
Tuesday, February 02, 2016 BP's final results for 2015 revealed its worst performance for more than two decades and that it will lose 7,000 members from its workforce in 2016 and 2017.
Mainland Europe Shale Gas: What Now?
Tuesday, February 02, 2016 Rigzone takes a look at the prospects for shale gas development in Europe during 2016.
Russian Oligarchs Most Likely Buyers in Putin's New Privatisation Plan
Tuesday, February 02, 2016 Russian oligarchs are the most likely potential buyers of the stakes in some of the country's largest companies that President Vladimir Putin wants to sell.
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