Oil & Gas News

FEATURED STORY
Exxon, Chevron Battle it Out in the Permian

Industry Headlines

Brazil Prepares for 16th Licensing Round
Monday, March 25, 2019 The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) has scheduled its 16th Round of Bids for exploratory blocks for Oct. 10.

Oil Prices Start the Week Mixed
Monday, March 25, 2019 The WTI inched downward and the Brent finished slightly positive.

Commodity Traders Face Bribery and Corruption Probes
Monday, March 25, 2019 The biggest independent oil and metals trading houses are facing bribery and corruption investigations in multiple jurisdictions.

Crude Oil Wavers Amid Recession Fears
Monday, March 25, 2019 Anxious traders weighed a slowdown in the global economy.

$77B Earmarked to Boost China's Domestic Oil Output
Monday, March 25, 2019 China's big three -- PetroChina Co., Sinopec Corp. and Cnooc Ltd. -- are raising combined capital expenditure to about 517 billion yuan ($77 billion), up 18 percent from last year.

Oil Prices Mixed for the Week
Friday, March 22, 2019 Both the WTI and Brent fell Friday, but one remains slightly positive for the week.

US Drops 10 Oil, Gas Rigs
Friday, March 22, 2019 The U.S. scrapped a total of 10 oil and gas rigs this week.

Exxon, Chevron Battle it Out in the Permian
Friday, March 22, 2019 New analysis by Rystad Energy explores which supermajor has the most potential in the prolific Permian Basin.

Oil Set for Third Weekly Gain
Friday, March 22, 2019 Oil is poised for a third weekly advance, buoyed by the biggest drop in American crude stockpiles since July at a time when the OPEC+ coalition is pressing on with its output curbs.

Crude Oil Misses Milestone
Thursday, March 21, 2019 Both the WTI and Brent contracts faltered Thursday.


READ MORE

Exploration

West African Country Eyes Licensing Wrap-up by June
Monday, March 25, 2019 Ivory Coast's government is in talks with French and Italian majors

Aker BP Makes New Discovery
Thursday, March 21, 2019 Aker BP has made a discovery at the Froskelar Main exploration well.

Siccar Point Energy Spuds Exploration Well
Tuesday, March 19, 2019 UK-based Siccar Point Energy has begun its 2019 drilling campaign by spudding an exploration well at the Blackrock prospect. (Courtesy Photo)

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.


READ MORE

Production

North Sea Oil Output to Drop
Monday, March 25, 2019 Oil output in the North Sea will drop in May and June.

Strike Action Set for North Sea BP Platforms
Monday, March 25, 2019 UK union Unite’s Petrofac members working on BP platforms in the North Sea have voted for industrial action.

Alberta Increases Oil Production Limits
Wednesday, March 20, 2019 Alberta's government will allow oil producers to pump more in May and June.

Spirit Energy Brings Oda Online
Tuesday, March 19, 2019 Spirit Energy has started oil production on the Oda field almost 5 months earlier than originally planned.

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.


READ MORE

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.


READ MORE

Company Operations

Tenaris to Buy IPSCO Tubulars for $1.2B
Monday, March 25, 2019 Steel pipe manufacturer Tenaris S.A. has entered into a definitive agreement to acquire IPSCO Tubulars, Inc. for $1.2 billion.

RockRose Energy Offers to Buy IOG Debt
Monday, March 25, 2019 London-based RockRose Energy plc made an offer to buy all of Independent Oil and Gas plc (IOG) debt for £40 million (about $53 million USD) cash.

DEA Completes Sierra Acquisition
Friday, March 22, 2019 DEA Deutsche Erdoel completes the acquisition of 100 percent of the shares of Sierra Oil & Gas.

Total Increases Workforce by 6 Percent
Friday, March 22, 2019 Total increased its global workforce by six percent in 2018, the company's latest registration document has revealed.

Offshore Jackets and Topsides Contract Goes to McDermott
Thursday, March 21, 2019 The work is expected to take 34 months to complete.

Equinor Subsea Contract Goes to TechnipFMC
Wednesday, March 20, 2019 The Johan Sverdrup ULQ platform topsides. IMAGE SOURCE: KBR

Drillers Turning to Big Data in the Hunt for Cheaper Oil
Wednesday, March 20, 2019 The industry is creating new business opportunities for IT, artificial intelligence, big data processing and analytics providers.


READ MORE