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Russia's Lukoil Says Current Oil Prices 'Satisfactory'
Monday, February 27, 2017 Current oil prices above $50 per barrel were satisfactory for the markets, Vagit Alekperov, the head of Russia's No.2 oil producer Lukoil, says.

Investors See Oil Break Out of Narrow Range With Record Bets
Monday, February 27, 2017 Oil has been bound to the tightest price range in more than a decade, and yet hedge funds have never been so confident it will eventually rally.

Russia Says May Speed Up Oil Output Cuts
Monday, February 27, 2017 Russia may cut oil production as part of an OPEC-led agreement designed to boost prices faster than it had previously expected, if its domestic companies are able, Energy Minister Alexander Novak said.

Sasol Sees First Ever Oil From Mozambique In 2-3 Years
Monday, February 27, 2017 South Africa's Sasol will produce oil from Mozambican wells in 2-3 years, the first crude output from the southeast African country, joint chief executive Stephen Cornell says.

Transformative Role of 3D Printing in Oil, Gas to be Discussed By Industry
Monday, February 27, 2017 The role that the industrial application of 3D printing could play in transforming the production of bespoke manufacturing in the oil and gas industry will be discussed by sector representatives.

Azerbaijan, Future Gas Supplier To Europe, Faces Shortfall At Home
Friday, February 24, 2017 Azerbaijan is on track to send gas to western Europe by the end of the decade, but is having to import supplies to use at home.

Fugro Sees Further Market Decline In First Half Of 2017
Friday, February 24, 2017 Fugro says it expects a further significant decline in the offshore oil and gas services market in the first half of 2017 before oil companies prepare for new investments later in the year.

Rigzone's Staff Picks Top 5 Oil, Gas Films
Friday, February 24, 2017 Rigzone highlights the most popular films focusing on the oil and gas industry.

Saipem Shares Fall On Tough Year Ahead Outlook
Friday, February 24, 2017 Shares in Saipem fell sharply in early trade on Friday after the oil contractor missed 4Q profit expectations and painted a gloomy picture for the industry for the year ahead.

China's Soaring LNG Demand To Help Rein In Global Glut
Thursday, February 23, 2017 China's soaring demand for liquefied natural gas (LNG) is sparking industry hopes that a supply overhang causing a slump in prices will end sooner than initially anticipated.

Canada's Fading Oil Promise Leaves US Majors Struggling
Thursday, February 23, 2017 Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers.

Kemp: US Shale Revival Likely To Cap Oil Price Gains
Thursday, February 23, 2017 US shale producers are growing production again, renewing the challenge to OPEC's market share and potentially limiting further increases in oil prices during 2017/18.

Woodside Flags Growth Options After Tough Year
Wednesday, February 22, 2017 Woodside Petroleum Ltd says it sees its output rising by about 15% over the next 3 years and flags plans to expand near-term output in Western Australia.

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.

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.

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.

Russia's Rosneft, Libya's NOC Sign Oil Offtake Deal
Tuesday, February 21, 2017 Libya's National Oil Corporation (NOC) signs a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output.

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).

Lekoil Aims to Ramp Up Otakikpo Output to 10,000 BOPD by 2Q
Monday, February 20, 2017 Africa-focused oil and gas company Lekoil aims to ramp up production from the Otakikpo Marginal Field, located in Nigeria's OML 11, to 10,000 barrels of oil per day by the end of 2Q.

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.

2017 Offshore Spending Plan To Rival Shale Investment, Report Says
Monday, February 20, 2017 Investment in both offshore projects and US shale plays is expected to total about $70 billion in planned capital spending, according to a new Rystad Energy report.

Iraq's Oil Reserves Increase To 153 Billion Barrels, Oil Minister Says
Monday, February 20, 2017 Iraq's oil reserves increase to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi says.

Trump's Defense Chief Tells Iraq: We're Not Here For Your Oil
Monday, February 20, 2017 The U.S. military is not in Iraq "to seize anybody's oil", Defense Secretary Jim Mattis says.

Unite Calls on Members to Back Motion Supporting Public Offshore Investment
Monday, February 20, 2017 Unite calls on its members to support a motion, scheduled for debate in Scottish Parliament Feb. 23, which outlines that the UK offshore oil and gas industry needs public investment to secure its future.

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.

GOP's Tax Reform Plan Brings Uncertainty to Oil, Gas
Monday, February 20, 2017 US corporate tax reform plan for a tariff on imports, but not exports, could boost income for domestic producers, but it might also pump up gasoline prices and raise refiners' costs.

China's 2017 Natural Gas Output To Jump To 170 Bcm
Friday, February 17, 2017 China's natural gas production will surge by about a quarter to 170 billion cubic metres (bcm) in 2017 from 136.8 bcm in 2016, estimates from the National Energy Administration show.

More Than 440,000 Global Oil, Gas Jobs Lost During Downturn
Friday, February 17, 2017 A report from Houston-based consulting firm Graves & Co. shows that the industry has suffered more than 440,000 jobs lost since the beginning of the most recent downturn.

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.

Iraq Plans To Acquire 'Large Fleet' Of Oil Tankers
Friday, February 17, 2017 Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi says.

Mitsubishi Heavy Bets on New US Turbomachinery Demand
Friday, February 17, 2017 Japan-based industrial firm expanding reach within US oil and gas market.

What Needs to Happen with Cybersecurity in Oil, Gas
Friday, February 17, 2017 Oil and gas leaders discuss the future of cybersecurity as the industry continues to evolve and become more digitized and connected.

Baker Hughes: US Drillers Add Oil Rigs For Fifth Straight Week
Friday, February 17, 2017 US energy companies added oil rigs for a fifth straight week, extending a nine-month recovery.

Can Other Oil Basins Ever Catch Up To The Permian's Prosperity?
Thursday, February 16, 2017 As oil majors sell off non-Permian assets to ready cash for another gamble in the Permian, smaller companies are scooping up bargain assets to build stronger plays outside of West Texas.

UAE's ADNOC Offers April Murban Crude From S.Korea Storage In Rare Move
Thursday, February 16, 2017 Abu Dhabi National Oil Company offers Murban crude to be loaded in April from its oil storage in South Korea.

Chad's Upstream Sector Income Could Erode Post-2021, GlobalData Warns
Thursday, February 16, 2017 Chad's income from the upstream sector will continually erode in the post-2021 period unless there is an oil price hike over the medium term or new large projects are brought online, GlobalData warns.

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.

Egypt Hopes To Reach Gas Market Balance In 2018, To Export By 2020
Wednesday, February 15, 2017 Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020.

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.

Noble Group Shares Jump 17% After Confirming Talks On Potential Investment
Tuesday, February 14, 2017 Shares in Noble Group Ltd leapt as much as 17% after the commodities trader confirmed it was holding talks on a possible strategic investment in the firm.

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.

Thai Oil Targets 2017 Refining Rate At 100-103 Pct Of Capacity
Tuesday, February 14, 2017 Thailand's largest oil refiner Thai Oil aims to run its refinery at 100-103% of its 275,000 barrel-per-day (bpd) capacity in 2017, and has no plans for any maintenance shutdowns.

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.

Investor Honeymoon With OPEC Falters as Shale Drilling Booms
Monday, February 13, 2017 After unprecedented optimism that OPEC will manage to ease a global supply glut, money managers reduced their bets on rising WTI prices for the first time in a month.

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