Oil & Gas News

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OPEC+ Gives Final Sign Off to Oil-Supply Boost

Industry Headlines

Unite Members at Total E&P Shetland Gas Plant Vote for Industrial Action
Monday, June 25, 2018 Unite union members at Total E&P Shetland Gas Plant vote for industrial action, the UK union reveals.

OPEC+ Gives Final Sign Off to Oil-Supply Boost
Saturday, June 23, 2018 OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia.

OPEC Insights: Experts Concerned About Supply Gaps, Emerging Markets
Friday, June 22, 2018 Industry experts at the 174th OPEC Conference weigh in on the fate of world trade, emerging markets and a potential supply gap.

Big Oil Eyes US Minority Groups To Build Offshore Drilling Support
Friday, June 22, 2018 API is seeking to convince Hispanic and black communities to support the Trump administration's proposed expansion of offshore drilling.

Baker Hughes: US Oil Drillers Cut Rigs For First Time In 12 Weeks
Friday, June 22, 2018 US energy companies this week cut one oil rig, the first reduction in 12 weeks.

Oil Jumps As OPEC Agrees To Modest Output Hikes
Friday, June 22, 2018 Oil prices soared after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand.


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Exploration

Energean Intends to Drill Karish North Well Before End-March 2019
Monday, June 25, 2018 Energean Oil and Gas plc intends to drill an exploration well in the Karish North prospect, offshore Israel, before end-March 2019.

Kunama-1 Well in Niger Spudded
Friday, June 22, 2018 Savannah Petroleum plc says the third well in its current Niger drilling campaign, Kunama-1, has been spudded.

Equinor Receives PSAN Consent to Drill Barents Sea Well
Friday, June 22, 2018 Equinor Energy AS receives Petroleum Safety Authority Norway's consent for the exploration drilling of well 7324/3-1 in the Barents Sea.

NPD: There Is a Lot of Remaining Oil, Gas on the Norwegian Shelf
Friday, June 22, 2018 There is a lot of remaining oil and gas on the Norwegian Continental Shelf, according to the Norwegian Petroleum Directorate.

Brazil Government Eyes Nov 29 For Choice Pre-Salt Oil Auction
Thursday, June 21, 2018 Brazil's government is considering November 29 for a much-anticipated auction of choice oil blocks in the offshore Santos basin.

ExxonMobil Makes Oil Discovery Offshore Guyana
Thursday, June 21, 2018 The latest discovery reaffirms the Stabroek block's excellent exploration potential, says WoodMac.


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Production

Saudi Aramco CEO Says Has 2 Mln Barrels Per Day Of Spare Capacity
Monday, June 25, 2018 Oil giant Saudi Aramco says it has a spare capacity of 2 million barrels per day and can meet additional oil demand in case of any interruption in supplies.

Tenaris to Resume Operations at Texas Mill, Hire 150 Workers
Thursday, June 21, 2018 After years of inactivity due to the downturn, Tenaris has announced it will resume operations at a mill in Texas.

Iraq, Exxon Talks On Water Treatment Project End-BOC Director General
Wednesday, June 20, 2018 Iraq is no longer in talks with Exxon Mobil Corp for the oil major to build a giant water treatment facility.

WoodMac: New Regulations to Help Boost Brazil's Pre-Salt Oil Production
Wednesday, June 20, 2018 A new report by Wood Mackenzie finds that Brazil's new local content policy can speed up the deployment of FPSO units.

Iran Says South Pars Not Affected By US Actions, Upgrading Oilfields
Tuesday, June 19, 2018 The possible withdrawal of Total from South Pars gas field has not slowed down the project, a senior Iranian official says.

Norway's Oil Production Falls To Six-Year Low In May
Tuesday, June 19, 2018 Norway's monthly oil output fell to a six-year low in May.


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Finance and Investing

Equity Ramping Up to Target Unconventional Plays Including the Permian
Wednesday, June 20, 2018 Despite bottleneck woes, investors are opening their wallets for the latest wave of unconventional fever and the Permian in particular.

Brookfield CEO Says He May Consider Trans Mountain Investment
Friday, June 15, 2018 Brookfield Asset Management Inc., Canada's largest alternative asset manager, may consider investing in the Trans Mountain pipeline - if it would produce an attractive return.

Source: Activist Fund Oasis Takes Stakes in Japan's Idemitsu & Showa Shell
Friday, June 15, 2018 Oasis Management has taken stakes in Japanese oil refiners Idemitsu Kosan Co Ltd and Showa Shell Sekiyu, keen to encourage a proposed merger that has been opposed by Idemitsu's founding family.

Sources Say ExxonMobil to Take Baby Steps to Expand Oil Trading Unit
Tuesday, June 12, 2018 ExxonMobil is dipping its toe in the world of oil trading, hiring executives and showing an appetite for expanding its operations.

Russia's Gazprom Neft Says Q1 Earnings Up 12.5% Y-o-Y
Tuesday, May 29, 2018 Russia's Gazprom Neft, the oil arm of gas giant Gazprom, says its first-quarter net income rose by 12.5% year-on-year.

Saudi Oil Minister Says Aramco IPO Is 'Most Likely' in 2019
Friday, May 25, 2018 The initial public offering of Saudi Aramco will 'most likely' happen in 2019, the kingdom's oil minister says.


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Company Operations

Shell, Exxon Not To Seek Compensation For End Of Groningen Gas Production
Monday, June 25, 2018 Shell and Exxon will not submit a claim for missed revenue due to the Dutch government's decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs says.

Atkins Secures New Framework Contract with BP Global Wells Organization
Monday, June 25, 2018 Atkins, a member of the SNC-Lavalin Group, secures a 5-year framework contract with the BP global wells organization for global riser analysis services.

African Petroleum Seeks Arbitration As Senegal Talks Break Down
Monday, June 25, 2018 African Petroleum is requesting legal arbitration in a dispute over oil and gas exploration licenses in Senegal after negotiations with authorities broke down, the Oslo-listed company says.

Libya's NOC Confirms LNA Control Of Oil Ports, Hopes For Quick Restart
Friday, June 22, 2018 The head of Libya's National Oil Corporation confirms that Khalifa Haftar's Libyan National Army has regained control of the key oil ports of Ras Lanuf and Es Sider.

Qatar May Increase Stake In Rosneft, But No Current Plans
Thursday, June 21, 2018 Qatar may consider increasing its stake in Rosneft at some point but there are no immediate plans to do so, Faisal Alsuwaidi, a Qatari representative on the Rosneft board of directors, says.

Analysts: SDX Energy 2018 Drilling Program 'Very Successful'
Thursday, June 21, 2018 SDX Energy Inc's 2018 drilling program has been 'very successful' to date, according to oil and gas analysts at Cantor Fitzgerald Europe.


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