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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.
Musings: Low Prices And Liberal Politics Change Canada's Energy Biz
Friday, February 12, 2016 G. Allen Brooks takes a look at the changing energy world in Canada in light of its new pipeline review criteria and the Alberta royalty review.
US Oil Explorers Park Rigs as Crude Below $20 Seen
Friday, February 12, 2016 Explorers idled more drilling rigs in US oilfields this week as record supplies begin to make crude prices in the teens a real possibility.
China's Natural Gas Demand Feels the Heat from Economic Slowdown
Friday, February 12, 2016 In regard to China's gas demand growth, will the proverbial glass be half-empty or half-full in 2016?
Cenergy CEO Still Eyes Growth Despite Industry Downturn
Friday, February 12, 2016 June Ressler shares her journey as CEO of Cenergy International, including the obstacles and successes she has experienced along the way.
Baker Hughes: US Oil Drillers Cut Rigs To Least In 6 Years
Friday, February 12, 2016 US energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data shows.
IPAA: Industry Must Be Willing To Ask Politicians Tough Questions
Thursday, February 11, 2016 Federal regulatory challenges to producers will remain even after the Obama Administration moves out of the White House, industry group tells NAPE 2016 audience.
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.
Meet the Texas Railroad Commission's New Executive Director: Kim Corley
Thursday, February 11, 2016 Less than two weeks in the new position, Texas Railroad Commission's Executive Director Kim Corley shares her excitement with working with commissioners and continuing the agency's mission.
Digital Shadows Offers New Defense to Oil, Gas Cyberthreats
Wednesday, February 10, 2016 A UK-based company offers a new approach to cybersecurity monitoring for oil and gas and other industries.
OPEC Points To Larger Oil Surplus In 2016, Says Low Prices Hurting Economy
Wednesday, February 10, 2016 OPEC points to a larger oil supply surplus on the world market this year than previously thought as Saudi Arabia and other members pump more oil.
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.
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.
C&J Energy Services Plans to Lay Off 78 Workers
Tuesday, February 09, 2016 C&J Energy Services plans to lay off dozens of employees at its Pleasanton facility.
As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis
Tuesday, February 09, 2016 As oil and gas companies cut deeper, boards adopt contrasting strategies to lead them out of the crisis.
Mexico's Pena Nieto Axes Pemex CEO, Orders Cuts Amid Oil Slump
Tuesday, February 09, 2016 Mexican President Enrique Pena Nieto removes chief at state oil firm Pemex, replaces him with the country's social security chief.
Oil Drillers Exposed in Three-Way Hedges as Crude Dips Below $30
Tuesday, February 09, 2016 Oil at $30 a barrel is blowing a hole in the insurance that US shale drillers bought to protect themselves against a crash.
Goldman Sees More Oil Swings That Could Drag Price Below $20
Tuesday, February 09, 2016 Oil could drop below $20 a barrel as the search for a level that brings supply and demand back into balance makes prices even more volatile, Goldman Sachs says.
Oil Traders Rush For Options To Protect Against Crude Gyrations
Tuesday, February 09, 2016 Oil traders scramble against price swings, send key index to its highest level since the worst of the global economic crisis in 2008.
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.
Kemp: Saudi Reform Efforts Wax and Wane with Oil Revenues
Tuesday, February 09, 2016 Similar rhetoric employed in 1998 and 2016 is a reminder that efforts at political, social and economic reform in Saudi Arabia have waxed and waned with oil revenues, says Reuters analyst.
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.
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.
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.
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.
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.
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.
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.
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.
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