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BHP Billiton to Invest $900M in Oil, Copper Exploration in FY17, Up 18% YOY
Monday, June 27, 2016 BHP Billiton plans to invest $900 million in oil and copper exploration in financial year 2017 (FY17), including three conventional deepwater oil projects in the Australia's Northern Beagle sub-basin, the Gulf of Mexico and the Caribbean.

Circle Oil Agrees Repayment Extension
Friday, June 24, 2016 Circle Oil plc agrees a repayment extension with International Finance Corporation.

Brazil's Petrobras Says Its Pension Fund Has $6.8B Shortfall
Friday, June 24, 2016 Brazil's state-led oil company Petrobras says its pension fund has $6.8 billion in unfunded liabilities, a new financial burden for what is already one of world's most indebted firms.

Pemex, First Reserve Said to Near $500 Million Asset Deal
Wednesday, June 22, 2016 Pemex and private equity firm First Reserve are finalizing terms on a sale and leaseback agreement intended to provide the beleaguered state-owned oil producer with much needed capital, according to two sources.

Further Cost Reduction Needed on Vaca Muerta Play
Tuesday, June 21, 2016 A Shell official says further cost reduction is needed to develop the Vaca Muerta unconventional play in Argentina.

Lekoil Agrees Capital Re-Financing Deal, Completes New Debt Facility
Monday, June 20, 2016 Lekoil announces the refinancing of an existing debt facility and the completion of a new debt facility raising, in aggregate, $20 million.

Nigeria's Lekoil Makes Use of Weak Naira to Fund Oil Field Expansion
Friday, June 17, 2016 Nigerian oil explorer Lekoil has converted around half of its investment budget into naira from U.S. dollars, benefiting from the Nigerian currency's weakness to fund an oil field expansion despite growing militant disruptions.

Deloitte: Debt, Shareholder Payouts May Take Priority Over CAPEX Spending
Thursday, June 16, 2016 A recovery in oil prices may not translate into more spending as companies face debt repayment and shareholder payout obligations.

Oil Industry to Cut $1 Trillion in Spending After Price Fall
Wednesday, June 15, 2016 The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant Wood Mackenzie Ltd.

Gulf Keystone Extends Standstill Agreement to July 1
Tuesday, June 14, 2016 Gulf Keystone extends standstill agreement with the majority of its note and bondholders until July 1.

Russia's Gazpromneft Says May Hike 2016 Dividend To 9 Rbls/Share
Friday, June 10, 2016 Russia's Gazpromneft could increase its 2016 dividend payment to 9 roubles per share if oil prices remain at current levels.

Angola Oil Company Sonangol Denies Report About $50 Billion Hole
Tuesday, June 07, 2016 Angolan state-owned oil company Sonangol says a report about a $50 billion shortfall in its accounts is "absolutely false."

Shell to Limit Capital Spending Through 2020
Tuesday, June 07, 2016 Shell management seeks to limit its capital spending through 2020 as it reshapes the company to enhance capital efficiency.

Sasol Set for Its Biggest Decline Since 1998 on Writedowns
Monday, June 06, 2016 Sasol Ltd. was set for the biggest decline in more than 17 years after saying fiscal full-year profit will drop by as much as 30 percent following writedowns.

Exxon CEO Says Argentina Shale Investment May Exceed $10B
Friday, June 03, 2016 Exxon Mobil Corp. may invest more than $10 billion in Argentina's Vaca Muerta shale formation in the next decades, Chairman and Chief Executive Officer Rex Tillerson says.

First Post-BG Shell Update Likely to be 'Short on Specifics'
Friday, June 03, 2016 Shell's first strategic update after its $55 billion acquisition of BG Group "is likely to be long on thematics and short on specifics," according to oil and gas analysts at Jefferies.

Congo Republic To Cut Budget For Second Straight Year Due To Oil Prices
Thursday, June 02, 2016 Congo Republic's government is proposing to cut spending in the current 2016 budget by around 9%, repeating a similar mid-year revision made last year as low oil prices cut into revenues.

Energy Minister: Saudi Aramco Keen to Invest in Global Upstream After IPO
Thursday, June 02, 2016 Saudi Arabia's state oil giant Aramco is interested in investing in international upstream as it prepares for a partial privatization through a stock market listing, the kingdom's energy minister says.

Petrobras CEO Says No More Political Interference in Oil Company
Wednesday, June 01, 2016 Petrobras' new CEO Pedro Parente says political interference has ended in the state-run oil producer and that fuel price decisions will now be made according to the company's best interests.

Sasol Says Mozambique Gas Project Unaffected By Debt Crisis
Tuesday, May 31, 2016 Mozambique's debt crisis and lower oil prices will not affect Sasol's $1.4 billion gas project.

Iran Emerging As Next Destination for Oil Investors Worldwide
Friday, May 27, 2016 Iran is emerging as a prominent venue for top investors in the oil and gas industry from across the world.

Norwegian Oil Investments To Fall Further In 2017
Thursday, May 26, 2016 Investment in Norway's oil and gas sector will continue to fall next year as weak crude prices curb oil firms' spending, according a survey conducted by Statistics Norway.

Chevron-Led Kazakh Venture May Borrow For $37B Project
Thursday, May 26, 2016 Chevron-led joint venture Tengizchevroil may take out loans and issue bonds to finance its $37 billion expansion project.

India's ONGC Reports 12% Rise In Q4 Profit, Beating Estimates
Thursday, May 26, 2016 Oil and Natural Gas Corp, India's biggest oil explorer, reports a surprise 12 percent rise in 4Q net profit, helped by a one-off gain.

Rosneft Signs Framework with Pertamina for Oil, Gas Cooperation
Thursday, May 26, 2016 Russian energy giant Rosneft and Indonesian state energy company Pertamina signed a framework agreement on Thursday to cooperate in the oil and gas sector, including plans to develop a refinery together.

Seadrill Warns of Further Cost-Cutting in 2016
Thursday, May 26, 2016 Seadrill will be cutting costs by approximately $340 million this year, after warning that the offshore drilling market "remains challenging".

Seadrill Drops as CEO Says Drillship Firesale Was Overpriced
Thursday, May 26, 2016 The offshore drilling market is in such bad shape that when a rival recently bought a rig for less than a 10th of its new-build cost, it probably overpaid, according to Seadrill Ltd. Chief Executive Officer Per Wullf.

Nostrum Oil & Gas Financials 'In Line', Production Guidance Unchanged
Wednesday, May 25, 2016 Nostrum Oil & Gas plc's 1Q financials are "broadly in line and operations are on track", according to a brief research note from FirstEnergy.

BP Indonesia Cuts Investment Budget For Tangguh Train 3 LNG Project
Wednesday, May 25, 2016 BP cuts its investment budget for the Tangguh Train 3 LNG project in Indonesia to between $8 billion and $10 billion, from $12 billion previously, according to a company official.

Tanzania Plans To Invest $1.9B In Year In Energy Projects By 2025
Wednesday, May 25, 2016 Tanzania plans to invest $1.9 billion each year by 2025 in energy projects in a bid to end power shortages and boost industrial growth in East Africa's second-biggest economy.

Climate Change Takes Center Stage at Exxon, Chevron Annual Meetings
Tuesday, May 24, 2016 Exxon Mobil Corp and Chevron will face their toughest-ever push by shareholders concerned about a warming world at annual meetings on Wednesday.

Energy Bet of $459B Seen as Overlooked Risk for Insurers
Tuesday, May 24, 2016 US insurers are risking financial stability by holding $459 billion of energy-related investments without considering the "broad and deep" threat that climate change poses to the assets, according to an environmental advocacy group.

Waste Stream Provider BlueJack Receives Millions of Dollars in PE Funding
Tuesday, May 24, 2016 Waste stream management solutions provider BlueJack Energy receives an initial equity commitment of up to $100 million from Energy Spectrum Capital.

ENI CEO: Nord Stream 2 Would Raise Gas Prices in Italy
Monday, May 23, 2016 Italian gas prices will increase if the Nord Stream 2 pipeline is built to double the amount of gas Russia pumps to Germany, the CEO of Italian oil and gas major Eni said on Monday.

GeoPark to 'Pounce' on Deals as Cheap Oil Creates Bargains
Monday, May 23, 2016 GeoPark is considering buying assets from other oil producers in Latin America and could close a deal by year-end as an industry downturn is leaving many of its rivals strapped for cash.

GE Agrees to $3B Saudi Arabia Investments Outside of Crude
Monday, May 23, 2016 General Electric agreed to take part in $3 billion of Saudi Arabia investments as the desert kingdom seeks to diversify its economy away from crude.

McDermott Charts Growth Path Following Company Restructuring
Monday, May 23, 2016 Fresh from a company turnaround, offshore engineering and construction firm McDermott gears up to tap opportunities in a market beset by the challenges of low oil prices.

Circle Oil Warns There Could Be Little or No Value Left for Shareholders
Friday, May 20, 2016 Circle Oil plc warns there could be little or no value left for shareholders, after taking into account its $77.5 million outstanding debt position and the nature of indicative proposals received to date.

Freeport's Oil and Gas Business Scraps IPO
Friday, May 20, 2016 Freeport-McMoRan's oil and gas business has withdrawn its initial public offering as weak oil prices dent valuations of oil producers.

Rosneftegaz Might Pay Interim Dividend If Rosneft Stake Privatized
Friday, May 20, 2016 Rosneftegaz, which owns 69.5% of Russia's biggest oil producer Rosneft, might pay interim dividends should Rosneft be privatized.

Proposed Gazprom Dividend Would Cut Russian State's Income
Thursday, May 19, 2016 Gazprom proposes a dividend less than half as big as the amount implied in a government order for state companies, adding to strains on state finances caused by low oil prices.

Petrobras Reopens Foreign Debt Markets for Brazilian Corporates
Thursday, May 19, 2016 Oil firm Petrobras threw open the door for Brazilian corporate issuance this week after printing a $6.75B bond - the first domestic company to sell foreign debt since June 2015.

AEP Says Spin Offs Won't Be Hit by Closure of McClendon's Firm
Thursday, May 19, 2016 The closure of American Energy Partners after the sudden death of founder Aubrey McClendon will not affect companies it formed and spun off with Texas-based private equity firm Energy & Minerals Group, according to an AEP statement seen on Thursday.

Halcon Resources to Restructure Through Chapter 11 Filing
Wednesday, May 18, 2016 Oil and gas company Halcon Resources says it will for a prepackaged Chapter 11 bankruptcy to restructure its balance sheet and eliminate $1.8 billion in debt.

Industry Needs to Make Tough Call on Deepwater Projects in Challenging Time
Wednesday, May 18, 2016 Difficult decisions are needed to tackle challenges in the current market as the number of deepwater projects dropped 42 percent in the past year to 122.

Halcon Reaches Pact with Creditors on Prepackaged Bankruptcy Plan
Wednesday, May 18, 2016 Halcón Resources, which produces oil in Texas and North Dakota, says it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices.

InterOil Asks Shareholders to Reject Founder's Board Nominees
Tuesday, May 17, 2016 InterOil Corp urged shareholders to reject board nominations made by founder and former Chief Executive Phil Mulacek, saying they were "not in the best interests" of investors.

Samson Resources' Banks to Gain Ownership in New Bankruptcy Plan
Tuesday, May 17, 2016 Samson Resources, one of the largest energy companies to file for bankruptcy in the commodity downturn, proposed a new Chapter 11 exit plan on Tuesday that would swap ownership of the natural gas producer to banks in return for reducing debt.

Petrobras to Offer New Debt, Repurchase Up to $3B in Bonds
Tuesday, May 17, 2016 State-controlled Petrobras plans to sell five- and 10-year dollar-denominated bonds as early as Tuesday, the first global offering of bonds by any Brazilian company since last June.

Ithaca Energy Turns Loss to Profit in 1Q, Maintains Capex
Monday, May 16, 2016 Ithaca Energy turned loss to profit in the first quarter of 2016, maintaining its capital expenditure of $50 million for the year in the process.

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