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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.

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.

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.

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.

BLOG: Purse String Power Could Lighten Oil, Gas Regulations Load
Friday, July 15, 2016 The US House of Representatives' passage of the Interior-EPA appropriations bill delays regulations impacting oil and gas industry.

China's Oil, Coal Output Slides in Sign of More Imports to Come
Friday, July 15, 2016 The world's biggest consumer of energy is producing less of it.

China's Legal Setback Could Spur More South China Sea Claims
Thursday, July 14, 2016 China's resounding defeat in a legal battle with the Philippines over territorial claims in the South China Sea could embolden other states to file lawsuits if Beijing refuses to compromise on access to the resource-rich region.

Ecuador Boosts Oil Reserves in ITT Field to 1.7 billion Barrels
Thursday, July 14, 2016 Ecuador's government says the oil bloc known as ITT holds 750 million barrels more than originally estimated, boosting the field's reserves to 1.67 billion barrels.

Gulf Keystone Creditors to Take Control Following Oil Slump
Thursday, July 14, 2016 Gulf Keystone Petroleum creditors will take control of the oil producer after low crude prices and erratic export payments left the company unable to service debts.

Depleted Crews, Idled Rigs Lie In Shale Oil's Path To Revival
Thursday, July 14, 2016 Two years ago, Reg MacDonald's 20-day drilling classes were packed to capacity, with nearly 40 students eager to land lucrative jobs in the booming oil and gas industry. Now he is lucky if he gets half a dozen to enroll.

The Value of an Energy Asset Is Deteriorating Underneath Europe
Wednesday, July 13, 2016 For decades, one of the most profitable parts of Europeís energy industry was giant, underground reservoirs used to store billions of dollars worth of natural gas. Traders stockpile fuel there during the summer to sell in winter, when the continentís consumers need to heat their homes.

Brexit Could Provide Boost for Britain's Shale Gas
Wednesday, July 13, 2016 Britain's shale gas industry could get a helping hand from a falling pound and a supportive new prime minister, after facing economic and political challenges that slowed its start.

BLOG: Who's Zoomin' Who When the Oil, Gas Politics Gets Very Personal?
Wednesday, July 13, 2016 Angry anti-frackers take their frustration to FERC commission member's home.

Aker Solutions Says Norwegian Offshore Sector Could Improve in 2017
Wednesday, July 13, 2016 Aker Solutions believes the offshore Norwegian oil and gas sector could start improving by next year, although the next few months are likely to remain 'subdued'.

WoodMac: Most Major Conventional Oil Projects At Risk At $50 Oil Price
Wednesday, July 13, 2016 Most major conventional oil projects are at risk of cancellation or deferral if global prices remain at $50 a barrel, consultancy Wood Mackenzie says.

Venezuela's PDVSA Issued $831M Debt to Pay Providers this Year
Wednesday, July 13, 2016 PDVSA has issued $831 million in promissory notes this year to repay debts to service providers, according to its latest financial statement.

As Long As Indian Oil Demand Is Driven By Mopeds, It Won't Be The New China
Wednesday, July 13, 2016 Sanjay Kumar is beaming with joy. The 23-year-old has just bought a used motor scooter, his first, for $445, after years of saving together with his mother.

New UK Prime Minister Likely Good for the Oil, Gas Sector
Wednesday, July 13, 2016 The appointment of Theresa May as the United Kingdom's new Prime Minister is likely to be positive for the UK oil and gas industry.

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