Oil & Gas News

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OGA: The UKCS is Back

Industry Headlines

US Senate Democrats Want Trump To Prod OPEC To Lower Oil Prices
Wednesday, May 23, 2018 US Senate Democrats urge President Donald Trump to try to prod OPEC to take steps to lower oil prices.

The $100 a Barrel Oil Wager Comes Back to the Options Market
Wednesday, May 23, 2018 Talk that prices could top that barrier over the next 12 months is gaining traction.

OGA: The UKCS is Back
Wednesday, May 23, 2018 The Oil and Gas Authority offers 123 licenses, over 229 blocks or part-blocks, to 61 companies in the 30th Offshore Licensing Round.

EU's Energy Chief Says 'Time Has Come' For New Russia, Ukraine Gas Talks
Wednesday, May 23, 2018 EU energy chief says he has reached out to Russia and Ukraine to relaunch EU-mediated talks over their gas dispute.

Oil Falls On Shock US Stock Builds, OPEC Supply Worries
Wednesday, May 23, 2018 Oil benchmarks fell after an unexpected build in US crude and gasoline inventories.

Goldman Sachs: Oil Producers Boost 2019 Hedging
Tuesday, May 22, 2018 Oil producers have picked up the pace in hedging against further production in 2019, Goldman Sachs says.

BP To Cut 3% Of Upstream Jobs By Year-End
Tuesday, May 22, 2018 BP says it plans to cut 3% of jobs in exploration and production.

Top 10 Drilling Contractors Oil, Gas Professionals Want to Work For
Tuesday, May 22, 2018 Rigzone outlines the top 10 drilling contractors oil and gas professionals want to work for, according to its latest Ideal Employer Survey.

Oil Holds Near 3-Year High Amid Venezuela Sanction Concerns
Tuesday, May 22, 2018 Oil settled slightly lower after trading near the highest price in almost 3 1/2 years.


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Exploration

Peru President Cancels London-Based Tullow's Offshore Oil Contracts
Wednesday, May 23, 2018 The government of Peruvian President Martin Vizcarra cancels five offshore oil contracts.

Faroe Expects Brasse East Well to be Drilled in 2H 2018
Wednesday, May 23, 2018 Faroe Petroleum expects the Brasse East well to be drilled in the second half of 2018.

Egypt Sets Deadlines For Oil And Gas Exploration Bids
Tuesday, May 22, 2018 Egypt has set October 1 and October 8 deadlines for 2 major international tenders for oil and gas exploration spanning 27 onshore and offshore blocks, the oil ministry says.

Analysts: UK Shale Package Won't Have Tangible Effect on Industry Momentum
Tuesday, May 22, 2018 The latest regulatory package from the UK government to support domestic shale exploration hasn't won over BMI Research analysts.

Cuadrilla Applies For Injunction Covering Shale Gas Site
Monday, May 21, 2018 Cuadrilla Resources files papers in preparation for a hearing for an injunction covering its shale gas exploration operations at Preston New Road, Lancashire.

Echo Energy Announces Gas Discovery Onshore Argentina
Friday, May 18, 2018 Echo Energy plc announces a gas discovery at the ELM-1004 exploration well, which is located at the company's Fracción C asset onshore Argentina.

Energy Ministry: Ghana To Award Nine New Oil Blocks Off West Coast
Thursday, May 17, 2018 Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year.


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Production

NOC: Libyan Oilfield Suffers 'Distribution Delay' Amid Protest Threats
Wednesday, May 23, 2018 Libya's National Oil Corp (NOC) says there was a 'minor distribution delay' from Raguba field.

Cuadrilla Seeks Consent to Frack UK's First Horizontal Shale Gas Well
Tuesday, May 22, 2018 Cuadrilla Resources submits an application to the Secretary of State for the Department for Business, Energy and Industrial Strategy for the consent to frack the UK's first horizontal shale gas well.

Production Vessel at Ghana's Jubilee Oilfield to Shut Temporarily
Monday, May 21, 2018 The production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said.

Unemployed Threaten Libya Oilfields Feeding Es Sider; Production Normal
Monday, May 21, 2018 A group of unemployed Libyan youths will shut down oilfields in Marada town in the east unless demands for better state services are met, the group said on Sunday.

Flow Test at Egyptian Well Exceeds Expectations
Friday, May 18, 2018 Flow testing at SDX Energy Inc's Ibn Yunus-1X discovery, located within South Disouq in Egypt, exceeds the company's expectations.

Premier Oil Says Debt Reduction On Track As Output Grows
Wednesday, May 16, 2018 Premier Oil says it is heading for a 'material' reduction of its $2.7 billion debt pile, with its Catcher field ramp-up reaching a promised 60,000 barrels per day.

Norwegian Production Drops in April
Wednesday, May 16, 2018 Norwegian production drops month-on-month in April, according to preliminary output figures released by the Norwegian Petroleum Directorate.


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Finance and Investing

Report: Petrobras CEO Sees Possible Rise In Capital Spending
Friday, May 18, 2018 Petrobras may raise its capital expenditure program.

Investors See Big Oil Surge, But Physical Markets Suggest Caution
Tuesday, May 15, 2018 Physical markets for oil shipments tell a different story.

Petrobras' Profit Jumps On Asset Sales, Higher Oil Prices
Tuesday, May 08, 2018 Petrobras reports a 57% surge in quarterly profit.

Oil's Lifeline Turns Into $7 Billion Drag as Crude Prices Jump
Wednesday, May 02, 2018 There's a downside to oil prices being up that could cost the industry more than $7 billion.

Rosneft Appeals to Market With $2 Billion Buyback, Debt Cut
Tuesday, May 01, 2018 Rosneft PJSC plans to start a $2B share buyback this year.

Pemex CEO Says We Must Move To IPO, But Will Take Years
Wednesday, April 25, 2018 Pemex says it must move towards a stock exchange listing like Saudi Arabia's Aramco has done but that such a step would take years.


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Company Operations

Software Development Company Expects to Create Aberdeen Jobs in 2019
Wednesday, May 23, 2018 Verum Solutions, a software development company which serves the oil and gas industry, expects to create new jobs in Aberdeen by early next year.

Australia's Santos Rejects Harbour Energy's Final $10.8B Takeover Offer
Tuesday, May 22, 2018 Australia's Santos terminates discussions with Harbour Energy.

Bibby Offshore Secures Multimillion Dollar North Sea Contract
Tuesday, May 22, 2018 Bibby Offshore secures a two-phase multimillion dollar contract with a 'leading' oil and gas company.

Serica Says Awaiting US License For Rhum Field
Tuesday, May 22, 2018 Serica Energy is still awaiting clarity on the impact of the renewal of US sanctions on fields in the North Sea.

Simmons Edeco Wins Multi-Million Dollar Deal with 'Major' N.Sea Operator
Monday, May 21, 2018 Oilfield services company Simmons Edeco secures a multi-million dollar contract with a 'major' North Sea oil and gas operator.


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