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As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis
Monday, February 08, 2016 As oil and gas companies cut ever deeper into the bone to weather their worst downturn in decades, boards adopt contrasting strategies to lead them out of the crisis.

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.

US Jobs Report: Mining Down 7,000; Loss of 800 in Oil, Gas
Friday, February 05, 2016 Data from latest jobs report show that mining jobs declined for another consecutive month.

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.

Moody's: Oil, Gas Loans Not Likely to Choke Big US Banks
Friday, February 05, 2016 Losses from souring oil and gas loans at the largest US banks are probably manageable, even if fuel prices remain low, according to Moody's Investors Service.

Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
Friday, February 05, 2016 The oil tanker Tofteviken setting sail from the UK this month carrying the first shipment of North Sea Ekofisk crude to the US Gulf Coast in five years.

Baker Hughes: US Oil Drillers Deepen Cuts in 7th Week of Declines
Friday, February 05, 2016 US energy firms cut oil rigs for a seventh week in a row to the lowest levels since March 2010, data shows.

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.

ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.

As Oil Suffers, Colombia Eyes Tough Time for Bond Offer
Thursday, February 04, 2016 Colombia prepares to tap bond markets as slide in crude prices dents fiscal accounts threaten the oil exporting nation's credit standing.

Investors, Analysts Pan ConocoPhillip's Decision to Slash Payout
Thursday, February 04, 2016 Investors punish ConocoPhillips after slashing its payout for the first time in 25 years due to low oil prices and an uncertain outlook.

Occidental Suffers Biggest Loss in 25 Years on Oil's Slump
Thursday, February 04, 2016 Occidental Petroleum posts its deepest quarterly loss in at least 25 years as plummeting crude prices destroy oil field value.

Shell Posts Worst Performance on Oil Reserves Since 2004 Scandal
Thursday, February 04, 2016 Royal Dutch Shell says it depleted its oil and gas reserves faster than it replenished them in 2015, its poorest showing in 12 years.

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.

Abu Dhabi to Take Billions From ADIA for Debt, Fitch Says
Wednesday, February 03, 2016 Abu Dhabi Investment Authority's assets expected to shrink by billions of dollars as the emirate reacts to deficit from low oil prices, Fitch says.

Anadarko Ceases Production at Independence Hub in Gulf of Mexico
Wednesday, February 03, 2016 Anadarko Petroleum's last producing well at the Independence Hub in the US Gulf of Mexico goes offline.

Despite Extremely Bearish EIA Data, Oil Markets Gain on Weaker Dollar
Wednesday, February 03, 2016 A weaker dollar and relatively positive Chinese economic data lift prices.

CFO Says Booz Allen Hit By Oil Prices, But Sees Opportunities in Mideast
Wednesday, February 03, 2016 Low oil prices have hurt Booz Allen Hamilton's business in the Middle East, but CFO says conflict there may present other opportunity.

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.

Texas Railroad Commission, Mexico Discuss Shale Development
Wednesday, February 03, 2016 Mexico's Ministry of Energy (SENER) is seeking to learn how it can replicate the success of South Texas' Eagle Ford shale.

Insurance Officials: Race for Iran Oil Cargoes Could Be False Start
Wednesday, February 03, 2016 Oil companies racing to benefit from Iran's new status risk tankers being left in limbo by international insurers' reluctance.

Small Asian Firms Seize Upstream Opportunities in Weak Market
Wednesday, February 03, 2016 Small Asian companies find the prolonged weakness in global oil prices an opportune time to purchase stakes in upstream oil and gas assets.

Cepsa Resumes Iranian Oil Supplies to Spain
Wednesday, February 03, 2016 Spanish refiner Cepsa to ship a 1-million barrel cargo of Iranian oil to its refineries, according to vessel agents' data and market players.

Kemp: Global oil demand growth is slowing going into 2016
Wednesday, February 03, 2016 The United States was one of the biggest sources of oil demand growth in 2015 but the outlook for 2016 is much more muted, forecasters say.

EIA: US Crude and Gasoline Stocks Swelled More Than Expected
Wednesday, February 03, 2016 US crude and gasoline stocks jumped more than expected last week, while distillate inventories fell, according to date from the EIA.

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.

Flood Of Oil Asset Writedowns Seen Across Asia On Crude Rout
Tuesday, February 02, 2016 Investors in Asian oil and gas companies should prepare for a wave of writedowns after a collapse in crude prices.

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.

E&P Lifeboat Hedges Fall to Lowest Rate in a Decade
Monday, February 01, 2016 Most upstream companies were hesitant to lock in hedges when oil was trading in the $50s, hoping for a rally to raise prices.

Three-Fifths of Workforce Would Recommend O&G Career despite Slump
Monday, February 01, 2016 Petroplan's inaugural 'Talent Insight Index' finds that more than 60 percent of oil and gas professionals would recommend a career in the sector to others in spite of the prolonged downturn.

Kemp: U.S. Economy Slows Sharply as Oil and Gas Slump Deepens
Monday, February 01, 2016 The U.S. economy ekes out anaemic growth in the final three months of 2015, and the struggling performance of the oil and gas sector was a major contributor to the slowdown.

Norwegian Licensing Round Activity in 2016
Monday, February 01, 2016 With Norway's APA 2015 and 23rd licensing rounds developing rapidly, Rigzone takes a detailed look at both auctions.

JIP Testing Potential of Microbial Oil Recovery Technology in Alberta
Friday, January 29, 2016 Glori officials are confident that its microbial oil recovery technology can enhance production at a heavy oil field in Alberta.

LNG Industry Set to Continue as Bright Spot in Challenging AU Market
Friday, January 29, 2016 Australia's LNG sector continues to evolve and is set to be the source of new and ongoing activity in the country despite low commodity prices.

OMV Takes Fresh Charges as Cuts Oil Price Forecast
Friday, January 29, 2016 Low oil prices force OMV to take writedowns totalling EUR 1.8 billion ($2 billion), underlining the problems facing the company.

Civmec to Expand Business by Forging Partnerships, Tech Collaborations
Thursday, January 28, 2016 Civmec sticks to its business expansion plan through partnerships and technology collaborations.

Wood Mac: 2016 Promises Upstream Opportunities despite Tough Times
Thursday, January 28, 2016 A new report from oil and gas consultancy Wood Group shows that 2016 promises many opportunities around the world for the upstream sector in spite of challenging times.

Lower Oil Prices Squeezing U.S. Manufacturing Sector
Thursday, January 28, 2016 New orders for long-lasting U.S. manufactured goods in December recorded their biggest drop in 16 months as lower oil prices and a strong dollar pressured factories, the latest indication that economic growth braked sharply at the end of 2015.

Baker Hughes Warns Global Rig Count Could Fall 30% in 2016
Thursday, January 28, 2016 Oilfield services firm Baker Hughes expects the global rig count to decline by as much as 30 percent in 2016.

EY: Current Downturn Offers O&G Chance to Achieve Operational Excellence
Thursday, January 28, 2016 Operational excellence could help oil and gas companies better cope with the declines in oil prices and operational efficiencies and rising costs the industry faces.

Russian Oil Output Cuts: Where There's a Will There's a Way
Thursday, January 28, 2016 Russia's oil industry has argued for years that it cannot cut output to support falling global prices for purely technical reasons; in reality it can - as long as it has the political will.

S-Oil Sees Healthy 2016 Refining Margins as Oil Demand Grows
Thursday, January 28, 2016 South Korea's S-Oil Corporation sees 2016 refining margins staying healthy and Asian refiners benefiting from growing oil demand during the year.

Low Utilization Pressures Companies to Scrap More Offshore Rigs in 2016
Thursday, January 28, 2016 With crude oil prices languishing just above the $30 a barrel range since the beginning of 2016, market watchers expect drilling companies to scrap more offshore rigs this year.

Oil Companies Holding On: Deloitte Says M&A Deals Down 53%
Wednesday, January 27, 2016 Massive amounts of mergers and acquisitions activity expected based on record low commodity prices has yet to occur in the embattled North American energy industry.

Range Resources Ltd Production, CAPEX in Decline
Wednesday, January 27, 2016 Range Resources Limited's CAPEX and average daily oil and gas production decreases during 4Q 2015.

Big Data, Automation Technology Can Aid Energy Trading Firms
Wednesday, January 27, 2016 Technology can serve as a tool for helping energy trading companies manage risk and compliance.

Why A Russian-Saudi Deal On Cutting Oil Output Remains Elusive
Wednesday, January 27, 2016 With oil trading near $30 a barrel, calls for orchestrated output cuts to quell global oversupply have intensified this week.

Key to Surviving the Oil Bust: Beware Bankers Bearing Cheap Debt
Tuesday, January 26, 2016 During the go-go days of $100 oil, bankers swarmed into Travis Stice's office in downtown Midland, Texas, trying to sell him on the wonders of easy credit.

Teaming-Up in 2015: Collaboration Agreements by European Oil, Gas Firms
Tuesday, January 26, 2016 Rigzone highlights the major collaboration agreements involving European oil and gas firms that took place in 2015.

Russia Beats Saudis as Top China Crude Supplier for 4th Month in 2015
Tuesday, January 26, 2016 Russia beat Saudi Arabia as China's top crude oil supplier for the fourth month in 2015 during December thanks to robust demand from independent Chinese refiners.

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