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BLOG: Second Quarter Shows Signs of Weakness Remain at Supermajors
Friday, July 29, 2016 Analyst tells Bloomberg Television, "The industry cannot survive on current oil prices."

Canada GDP Shrinks Most Since 2009 as Wildfires Crimp Oil Output
Friday, July 29, 2016 Canada's gross domestic product contracted at the fastest pace in more than seven years in May as wildfires curbed Alberta oil production.

Exxon Has Worst Profit Since '99 as Chevron Posts Surprise Loss
Friday, July 29, 2016 Exxon Mobil and Chevron miss profit and production estimates as wildfires, write-downs and weak refining margins battered oil explorers already reeling under a glut-driven price collapse.

Drop In The Ocean: India's Strategic Oil Reserves Unlikely To Stir Market
Friday, July 29, 2016 India's initial plan to build-up its strategic petroleum reserves (SPR) is not shaping out to be the dramatic event that some in the market had hoped could help reignite global oil demand.

Iran Needs 2-3 Months To Reach Pre-Sanctions Oil Output Level
Friday, July 29, 2016 Iran needs two to three months to achieve its pre-sanctions level of oil production, Iranian Communications Minister Mahmoud Vaezi said during a visit to Moscow on Friday.

Eni Swings To Net Loss In Second Quarter
Friday, July 29, 2016 Italian oil group Eni swung to a net loss in the second quarter on lower oil prices and a production shutdown at a key field in southern Italy, missing expectations.

Supercomputers Deliver $500M Savings In BHP Hunt For Oil
Friday, July 29, 2016 Supercomputers that create 3-D seismic maps of BHP Billiton's oil and gas assets are accelerating work to bring new fields into production and have already notched savings of $500 million in development costs at a project in the Caribbean.

Economist: Texas Oil, Gas Recovery Will Be Far From Quick
Thursday, July 28, 2016 Despite early signs of recovery, Texas oil economist Karr Ingham warns the process will be slow.

Oil Industry Suppliers See Light at the End of the Tunnel
Thursday, July 28, 2016 European suppliers to the oil industry, hit by their customers' spending cutbacks over the past two years, produce stronger than expected second-quarter earnings and are cautiously pointing to signs of recovery in demand.

PwC: Oil Price Stability Drives Uptick in M&A Deals
Thursday, July 28, 2016 Higher commodity prices and cautious optimism resulted in a rise in oil and gas merger and acquisition deals in the second quarter of 2016, according to PwC findings.

National Oilwell Sees 'Isolated Green Shoots of Activity'
Thursday, July 28, 2016 National Oilwell Varco, the largest US oilfield equipment provider, says demand rose for some of its products and services in North America in recent weeks, as drillers put rigs back to work.

Singapore Banks' Concerns Grow about Oil, Gas Sector Exposure
Thursday, July 28, 2016 Two of Singapore's top banks flag mounting concerns about loans to the oil and gas sector.

Oil Majors Lost One Engine; Now The Second One Is Sputtering
Wednesday, July 27, 2016 If Big Oil was a two-engine airplane, you could say it's been flying on a single engine since energy prices crashed in 2014. Now, the second motor is sputtering.

BLOG: CEO Says Oil, Gas Companies Fare Better Under Democrats
Wednesday, July 27, 2016 Oil and gas companies have backed Republican candidates, but fared better under Democratic presidents, Pioneer Natural Resources chief says.

China Oil Giant's Income Rises as Costs Cut Amid Shift to Gas
Tuesday, July 26, 2016 China National Petroleum Corp. says first-half profit rose 11 percent and that spending cuts at the country's largest field helped boost earnings.

In Venezuela's Murky Oil Industry, the Deal that Went Too Far
Tuesday, July 26, 2016 Even for Venezuela's notoriously opaque economy, it was a sweetheart deal that went too far.

BLOG: 'It's Cyclical' and Other Worn Out Industry Phrases
Tuesday, July 26, 2016 No matter how spot on they may be, there are just some phrases people won't mind not hearing once the industry fully recovers from the downturn.

Oil, Gas Companies Tighten Cash Flow at Expense of Future Growth
Tuesday, July 26, 2016 Oil and gas companies will achieve cash flow neutrality at $50 per barrel Brent crude this year, but have damaged their growth prospects to meet this goal.

World Bank Raises 2016 Oil Price Forecast on Supply Outages, Robust Demand
Tuesday, July 26, 2016 The World Bank raised its crude oil forecast for 2016 to $43 a barrel on Tuesday, from $41 a barrel, citing supply outages and robust demand in the second quarter.

Oil Glut Deeper Than Just Crude Exposed as Recovery Stumbles
Friday, July 22, 2016 For almost two years, the spotlight in the global oil market has been on a surplus of crude. The latest stumble in prices shows that the glut extends further.

Schlumberger Sees Oil Supply Deficit if Demand Growth Holds
Friday, July 22, 2016 Schlumberger, the world's No. 1 oilfield services provider, says it expects a "significant global supply deficit" of crude oil, given the sharp decline in spending on exploration and production.

Philippines' Oil Still In Troubled Waters After South China Sea Ruling
Friday, July 22, 2016 The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated by last week's ruling that granted Manila a big victory in the South China Sea.

Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn
Friday, July 22, 2016 The world's two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash.

Baker Hughes: US Oil Drillers Add Rigs for Fourth Straight Week
Friday, July 22, 2016 US drillers this week added oil rigs for a fourth consecutive week, according to a closely followed report on Friday, with the recent return to the well pad expected to soften the decline in domestic crude production.

Nigeria's Qua Iboe Crude Under Force Majeure for at Least a Month
Thursday, July 21, 2016 Exports of Nigeria's largest crude oil stream, Qua Iboe, will remain under force majeure for at least one month while operator Exxon Mobil repairs a leak on the pipeline feeding the terminal.

BLOG: PTT Scours Ways of Funding Core Business
Thursday, July 21, 2016 Thailand's national oil firm PTT spares no effort in the search for fund its core business in the current challenging market.

Lower 48 to See Production Losses through 2020 on CAPEX Cuts
Thursday, July 21, 2016 The Bakken and Eagle Ford plays see the biggest CAPEX cuts, but activity in the Permian Basin remains resilient by comparison.

Canadian Energy Earnings Hint at Brighter Outlook for Oil
Thursday, July 21, 2016 The Canadian oil and gas earnings season kicks off with signs of an industry recovery as Encana Corp and Precision Drilling Corp outlined plans to boost activity.

Oil CEOs Still Paid for Growth Despite Crude Glut, Moody's Says
Thursday, July 21, 2016 US crude supplies remain at the highest seasonal level in at least a decade, but drillers are still rewarding their top brass when they add to the glut.

Low Crude Prices Dim Hopes for Big Revenue Boost from New Ghana Oilfield
Wednesday, July 20, 2016 In the depths of Ghana's fiscal crisis in 2014 policymakers looked forward to a time when a new oil field would open to boost the economy. That time has come but there's a catch: oil prices have halved since the project started.

Norway to Examine Competition Conditions in Oil Industry
Wednesday, July 20, 2016 Norway's competition watchdog will look into whether competition rules are being infringed in the country's oil industry, the industry ministry says.

Libyan Hariga Oil Port Resumes Work, But Sarir Field Stays Shut
Wednesday, July 20, 2016 Oil exports from the eastern Libyan terminal of Hariga resume after a pay protest by guards ends, but production at the major eastern oil field of Sarir will remain suspended, officials say.

Goldman Sees Russian Oil Output Topping Soviet Record by 2018
Wednesday, July 20, 2016 Russian oil output will exceed the former Soviet record set almost 30 years ago by the end of 2018 as low-cost fields allow producers to defy the slump in prices, according to Goldman Sachs.

Saudi Aramco Boss Says Drilling, IPO Unaffected by Oil Price
Wednesday, July 20, 2016 Saudi Arabia's oil and natural gas production is unaffected by crude prices at current levels, the state-run producer's CEO says, signaling that the world's biggest oil exporter will maintain its battle for market share.

CEO: Saudi Aramco Not Worried About Competition in Asia
Wednesday, July 20, 2016 Saudi Aramco is not worried about competition from other producers raising their crude sales in Asia as the number of customers the state oil giant deals with is also increasing, its CEO says.

UNEP: Global Extraction of Primary Materials to Triple by 2050
Wednesday, July 20, 2016 The amount of primary materials extracted from the earth will almost triple by the middle of this century if action is not taken, a UN-backed report says.

Total Seen Unlikely to Fight Exxon Mobil Over South Pacific Gas
Wednesday, July 20, 2016 Total SA is unlikely to challenge ExxonMobil in a bidding war for explorer InterOil Corp, the French firm's partner in a gas field in Papua New Guinea, analysts said on Wednesday.

Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market
Tuesday, July 19, 2016 Iraq overtakes Saudi Arabia for the first time to become India's top oil supplier in the June quarter, helped by sales of discounted heavy crude that refiners have also been using to make bitumen to build roads in the world's No.3 oil consumer.

IMF Predicts Nigeria's Economy Will Contract by 1.8% in 2016
Tuesday, July 19, 2016 Nigeria's economy, the biggest in Africa, is likely to contract by 1.8 percent this year, the IMF says, as the country grapples with the impact of low oil prices.

BLOG: Rigzone/Twitter Poll Says Reduced Hours Should Replace Job Cuts
Tuesday, July 19, 2016 Reduced hours should replace job cuts in the oil and gas industry, according to a Rigzone poll on Twitter.

North Sea Field Shutdowns To Climb As Brexit Deepens Oil Gloom
Tuesday, July 19, 2016 The pace of North Sea oil-field shutdowns is picking up as the impact of the market slump is compounded by the uncertain investment environment created by Brexit.

Canada's Oil Heartland Is In the Midst of its Worst Recession on Record
Monday, July 18, 2016 Alberta, the home of Canada's oil sands, is going through its worst downturn in activity on record as a prolonged period of low oil prices and the wildfires earlier this year buffet the provincial economy.

Saudi Arabia Seeks to Create Biggest Tanker Fleet With New Fund
Monday, July 18, 2016 A venture between Apicorp and National Shipping of Saudi Arabia will create the world's largest fleet of oil tankers and support the kingdom's plan to boost crude exports, Saudi Energy Minister says.

In Brazil, Another Shipyard Goes Bust As Work Returns To Asia
Monday, July 18, 2016 If there's one industry where all of Brazil's political and economic upheavals come together, it's shipbuilding.

Oil Producers Prepare for Second-Half Slump as Rally Sputters
Monday, July 18, 2016 Oil producers aren't betting on the rally. After surviving two years of low prices, they're gearing up for a third by buying protection against a renewed downturn.

Peru Diversifies Crude Imports with Purchases from Brazil, US
Monday, July 18, 2016 Peru has started expanding the sources of its crude imports, slowly introducing US and Brazilian grades to a slate mostly based on oil from Ecuador, Africa and Trinidad and Tobago, according to Thomson Reuters Trade Flows data.

Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey
Monday, July 18, 2016 The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait.

Faltering Oil Recovery Prompts Warnings of a Relapse to $40
Friday, July 15, 2016 As oil's upward climb runs out of momentum, more and more analysts expect the market's next move will be back down toward $40 a barrel.

Moodys: Shell, Repsol and Petrobras M&A on the Horizon
Friday, July 15, 2016 Analysts at Moodys' Investors Service expect that once commodity prices stabilize, the second quarter increase in 2016 activity will become an industry trend with major players trading assets.

Petrobras Finds Money for Olympic Sponsorships Amid Cost Cutting
Friday, July 15, 2016 The highly-indebted oil company at the center of Brazil's biggest corruption scandal still has cash to support top athletes in the run-up to the Olympic games being held in its home city.

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