Oil & Gas News

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API: US Producers, Refiners Made History Last Month

Industry Headlines

UPDATE: Norway Oil Workers And Employers Agree Deal, Strike Ends
Thursday, July 19, 2018 Owners of Norwegian oil rigs are considering imposing a lockout on workers as a high-stakes gamble to try to end a strike by almost 1,600 staff that began last week.

Average Salary for UK Oil, Gas Jobs Up Nearly 10%
Thursday, July 19, 2018 The average advertised salary in the UK for oil and gas jobs has increased by almost 10% over the last year, according to new research by Adzuna.

Diversified Independents Trading at Premium to Pure Play Tight Oil Players
Thursday, July 19, 2018 For the first time, a group of diversified independents tracked by Wood Mackenzie is trading at a premium to a group of pure-play US tight oil players monitored by the company.

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OPEC Seeking Legal Strategy as U.S. Continues to Push Anti-Cartel Bill
Thursday, July 19, 2018 OPEC is consulting with lawyers to prepare a strategy to defend against proposed U.S. legislation that could open the cartel up to antitrust lawsuits, according to people familiar with the matter.

BLOG: Industry Debates I'm Tired of Already
Thursday, July 19, 2018 Differing opinions have been the cause for many industry debates.

Brent Slips As Focus Returns To Oversupply
Thursday, July 19, 2018 Global benchmark Brent crude dipped as concerns about mounting supply returned after a brief rally earlier in the session.

Crude Edges Up as Fuel Supply Drop Outweighs Rising Crude Stocks
Wednesday, July 18, 2018 Crude rose as investors assessed conflicting supply-and-demand signals in the world's biggest economy.

Colombia's President-Elect Names Maria Fernanda Suarez Energy Minister
Wednesday, July 18, 2018 Colombia's President-elect Ivan Duque named Maria Fernanda Suarez as mining and energy minister when he takes office in August.


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Exploration

Transocean Secures 13 Well UK North Sea Contract with ConocoPhillips
Tuesday, July 17, 2018 The midwater semi-submersible Transocean 712 has been awarded a 13 well UK North Sea contract by ConocoPhillips.

US Drillers Leave Oil Rig Count Unchanged -Baker Hughes
Friday, July 13, 2018 U.S. energy companies left the oil rig count unchanged this week as the rate of growth has slowed over the past month or so.

Carnarvon: Presence of Hydrocarbons Indicated at Dorado-1 Well
Friday, July 13, 2018 The presence of hydrocarbons has been indicated at the Dorado-1 well offshore Australia, Carnarvon Petroleum Limited says.

Norway's Aker BP Misses Q2 Forecasts, Ups Exploration Spending
Friday, July 13, 2018 Aker BP will increase its exploration spending plan this year due to new prospects off Norway, the oil firm says.

Industry is 'Fit', 'Ready' for New North Sea Exploration Era
Wednesday, July 11, 2018 Industry is 'fit and ready' to usher in a new era of exploration in the North Sea, according to Oil & Gas UK's upstream policy director Mike Tholen.

Savannah Makes 3rd Consecutive Discovery in Niger
Wednesday, July 11, 2018 Savannah Petroleum plc announces its third consecutive discovery in its maiden exploration campaign in the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin.


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Production

Saudi Arabia Says It Won't Oversupply Global Oil Market
Thursday, July 19, 2018 Saudi Arabia rejected concerns that it's planning to oversupply global oil markets and said it will actually trim crude exports next month.

US Crude Oil Output Hits 11 Million bpd For First Time Ever
Wednesday, July 18, 2018 US crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation's history.

Security Issues Continue to Plague Libya's Oil-Supply Growth
Wednesday, July 18, 2018 Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.

OGA: UKCS Production Efficiency Improves for 5th Straight Year
Tuesday, July 17, 2018 Production efficiency on the UK Continental Shelf has improved for the 5th consecutive year, according to a new report released by the Oil and Gas Authority.

SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm
Monday, July 16, 2018 Canada-based SNC-Lavalin will provide general engineering services under latest framework deal.

Analysts: SDX's Egypt Appraisal Well Result 'Very Encouraging'
Monday, July 16, 2018 North Africa focused oil and gas company SDX Energy Inc announces that a 'successful' production test has been conducted at its SD-4X appraisal well at South Disouq in Egypt.

Aker BP Says Norway Strike Would Have To Last Month To Hit Output
Friday, July 13, 2018 A 4-day oil workers strike in Norway that may escalate on Monday would have to last a month to impact Aker BP's production from the Valhall field in the North Sea, the Norwegian energy company says.


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Finance and Investing

Azeri Oil Fund SOFAZ Reports 9% Rise In Assets To $38.04B
Tuesday, July 17, 2018 Azerbaijan's state oil fund SOFAZ says its assets rose by more than 9% year on year to $38.04 billion as of July 1.

Russian Lawmakers Approve Profit-Based Taxation For Oil Production
Thursday, July 05, 2018 The lower house of Russian parliament on Thursday approves in the third and final reading the new, profit-based, taxation for a limited number of oilfields.

EBRD Set To Approve TAP Loan In Boost For Developers -Sources
Wednesday, July 04, 2018 A major European development bank is likely to approve a loan for the Trans-Adriatic Pipeline (TAP) gas project on Wednesday, sources say.

Rig Firm Fred. Olsen Energy Fails To Win Waiver Extension
Monday, July 02, 2018 The creditors of Oslo-listed Fred. Olsen Energy did not agree to extend a waiver to some of the company's financial covenants that expired on Saturday, the Norwegian drilling rig contractor says.

Santos Set To Resume Dividends Earlier Than Expected, Shares Rise
Thursday, June 28, 2018 Australia's Santos Ltd says it will resume its dividend payment policy earlier than expected.

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.


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Company Operations

BGP Secures $1.6B ADNOC Seismic Survey Work
Thursday, July 19, 2018 ADNOC awards contracts worth $1.6 billion to a China National Petroleum Company (CNPC) affiliate for 'the world's largest continuous 3D onshore and offshore seismic survey'.

BP Named One of Best Employers for LGBT Staff
Thursday, July 19, 2018 BP plc has been named on Stonewall's list of the best multinational employers for lesbian, gay, bi and trans (LGBT) staff.

Tullow Oil To Shoulder Kosmos' $65MM Burden Over Ghana Rig Dispute
Wednesday, July 18, 2018 Tullow Oil has to cover nearly $65 million of costs linked to a canceled rig contract in Ghana.

BHP: Exit Process for Onshore US Assets Progressing to Plan
Wednesday, July 18, 2018 BHP says the exit process for its onshore US assets is 'progressing to plan'.

Wood Appoints Chief Technology Officer
Tuesday, July 17, 2018 Wood appoints Darren Martin as its chief technology officer, a newly created role within the company.

Shell Seeks Semisub for Trinidad and Tobago Campaign
Monday, July 16, 2018 Shell plans to launch an offshore Trinidad and Tobago drilling campaign in 2019.


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