Oil & Gas News

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Oil, Gas Looks to Create Value in Digital Transformation

Industry Headlines

Oil Slips
Monday, March 18, 2019 Oil slipped from near a four-month high as OPEC and its allies met in Azerbaijan Monday and recommended deferring a decision on whether to extend oil production cuts until June.

Market Fundamentals Improving But Much Left to Do
Monday, March 18, 2019 Market fundamentals have been slowly improving since the latter part of last year, but much more work still needs to be done, according to Saudi Arabia's energy minister.

OPEC Can Make or Break Oil's Bull Run
Monday, March 18, 2019 OPEC can make or break oil's bull run, and hedge funds are betting the cartel will keep fueling the rally.

Oil Prices Up for the Week
Friday, March 15, 2019 The WTI is up 4.4 percent and the Brent 2.1 percent.

US Has Fourth Straight Week of Rig Count Declines
Friday, March 15, 2019 The U.S. dropped one oil rig this week.

ABB Execs Talk Tech's Impact on Oil, Gas and More
Friday, March 15, 2019 Rigzone spoke with ABB executives during the CERAWeek by IHS Markit conference about the oil and gas industry's technological evolution and sustainability in the industry.

Oil, Gas Looks to Create Value in Digital Transformation
Friday, March 15, 2019 Now seems to be the perfect time for the oil and gas industry to leverage digital capabilities to achieve success in the digital transformation.

Oil Expected to Rally into Summer
Friday, March 15, 2019 Merill Lynch expects oil to rally into the summer.

Oil Set for Weekly Gain
Friday, March 15, 2019 Oil's poised for the best weekly rally in a month as the world's top crude producers are scheduled to discuss about extending their pledged output curbs to avert a global glut.

Guaido to Appeal $8.7B ConocoPhillips Award
Friday, March 15, 2019 Venezuela's opposition leader Juan Guaido plans to appeal the $8.75 billion award issued to ConocoPhillips by the World Bank's arbitration tribunal last week.


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Exploration

Eni Finds Gas Offshore Egypt
Thursday, March 14, 2019 Eni has made a gas discovery at the Nour prospect offshore Egypt.

Deepwater Angola JV Hits Oil Pay
Wednesday, March 13, 2019 Early estimates indicate up to 650 million barrels of light crude in place.

Marathon Oil Opts for Overlooked Acreage Outside of Permian
Tuesday, March 12, 2019 The explorer is opting to snap up cheap acreage in overlooked areas like the Louisiana Austin Chalk.

Eni Inks Farmout Deal with Qatar Petroleum for Mozambique Block
Monday, March 11, 2019 Eni and Qatar Petroleum have entered into a farmout agreement which will allow Qatar Petroleum a 25.5 percent participating interest in Block A5-A offshore Mozambique.

PTTEP Makes Gas Discovery Offshore Australia
Friday, March 08, 2019 PTT Exploration and Production Public Company Limited has made a new gas discovery offshore Australia.

Alberta Drillers Unfazed by Crude Glut
Thursday, March 07, 2019 Some drillers are moving ahead in Canada's oil sands despite depressed prices last year and resulting production cuts.


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Production

US Slashes Oil Production Forecast
Tuesday, March 12, 2019 While crude output is still expected to reach record levels, the EIA trimmed its 2019 forecast.

UK Oil and Gas Production Rises in 2018
Tuesday, March 12, 2019 UK oil and gas production increased by more than 4 percent last year, according to a new report by the Oil and Gas Authority.

US to Drive Oil Supply Growth to 2024
Monday, March 11, 2019 The United States will drive global oil supply growth over the next 5 years, according to the IEA.

US to Export More Oil, Liquids than Saudi Arabia in 2019
Thursday, March 07, 2019 The U.S. is poised to export more oil and liquids than Saudi Arabia by year-end, according to Rystad Energy.

Permian Still Booming Despite Hurdles
Thursday, March 07, 2019 The Permian's oil pipeline network is expected to grow 60-70 percent in the next five years.

One Killed, Two Injured at Eni Gas Platform Offshore Ancona
Wednesday, March 06, 2019 A crane fell at the platform, killing the operator and injuring two others.


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Finance and Investing

The Oil Industry's Wall Street Burden
Friday, March 01, 2019 The battle among analysts between calls for production growth and returns continues.

Pemex Assistance Plan Fails to Impress Bondholders
Friday, February 15, 2019 Pemex, the world's most indebted oil company, will refrain from issuing new bonds this year.

PetroQuest Emerges from Chapter 11 Bankruptcy
Tuesday, February 12, 2019 US independent PetroQuest Energy emerges from Chapter 11 bankruptcy.

Kuwait Petroleum to Reassess $500B Spending Plan
Monday, February 11, 2019 Kuwait Petroleum Corp. is reassessing plans to spend about $500 billion in capital investment and may decide this year to combine its eight business units.

BP Invests in Technology to Help Upstream Business
Monday, January 28, 2019 BP Ventures invested $5 million in a Houston technology startup that uses artificial intelligence to help BP experts make more efficient upstream decisions.

Gastar Emerges from Chapter 11 Bankruptcy
Wednesday, January 23, 2019 The pure play Mid-Continent energy company has successfully completed its restructuring process.


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Company Operations

Woodside Invests in Cyber Security Company
Monday, March 18, 2019 Woodside Energy has invested in Sapien Cyber Ltd, a Western Australian cyber security firm.

Algeria NOC Enlists WorleyParsons' Help to Boost Output
Friday, March 15, 2019 Sonatrach wants to command a Top 5 NOC position.

Equinor Makes Close to 1,000 New Hires in 2018
Friday, March 15, 2019 Equinor made 905 new hires in 2018, according to the company's latest annual report.

Rowan Jack-up Heading to Guyana
Thursday, March 14, 2019 Repsol plans to spud its first exploration well in the offshore Kanuku block this year.

Petrofac Secures $1B EPC Contract
Thursday, March 14, 2019 Petrofac has been awarded a contract worth around $1 billion by Groupment Isarene for engineering, procurement and construction services relating to the Ain Tsila development project in Algeria.

Shell CEO's Pay More Than Doubles in 2018
Thursday, March 14, 2019 Royal Dutch Shell CEO Ben van Beurden's total pay, including pension, more than doubled in 2018 compared to 2017.

$220 Million in Drilling Contracts Go to Saipem
Wednesday, March 13, 2019 The awards include new contracts and contract extensions.


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