Oil & Gas News

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Oil Will Continue to Play Significant Role in 2040

Industry Headlines

Oil Holds Near 3-Month High
Wednesday, February 20, 2019 Oil held near a 3-month high as production cuts by Saudi Arabia tempered concerns a trade war between the world's 2 biggest economies will continue to weigh on the global growth outlook.

WTI Settles Above $56
Tuesday, February 19, 2019 Analyst offers insights on oil market drivers from 1600 Pennsylvania Avenue and other locales.

Oil Holds Gains
Tuesday, February 19, 2019 Oil held gains at a 3 month high as investors focused on the prospects for a resolution to the U.S.-China trade war and signs of sliding shipments from the world's biggest crude exporter.

How Industry 4.0 is Reshaping Oil and Gas Recruitment
Tuesday, February 19, 2019 Slowly but surely, the proliferation of IIoT, robotics, augmented and virtual reality are leading to a step change in hiring strategies.

Crude Oil Edges Upward
Monday, February 18, 2019 Both the WTI and Brent crude oil benchmarks posted gains.

Oil Optimists Look Ready to Take Driver's Seat
Monday, February 18, 2019 Oil optimists look like they're finally ready to take the driver's seat in crude's rebound.

Oil Trades Near Highest Level Since November
Monday, February 18, 2019 Oil traded near the highest level since November on optimism the U.S. and China can reach a trade deal and as an outage at the world's largest offshore field signaled tightening supply.

Crude Oil Up More Than 5% for the Week
Friday, February 15, 2019 A Russian pledge and a Saudi outage provided support for crude.

US Drillers Add Rigs for Second Consecutive Week
Friday, February 15, 2019 The US added a net total of two rigs this week.


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Exploration

Oil and Gas Stepping Up Its Exploration Game
Tuesday, February 19, 2019 After years of budget cuts, oil and gas companies are finally stepping up their exploration game.

Transocean Makes Automation Deal with Equinor
Monday, February 18, 2019 One harsh-environment semi-submersible was fitted with the ADC system two years ago.

Repsol Makes Gas Discovery in Indonesia
Monday, February 18, 2019 Indonesia upstream regulator SKK Migas confirmed that Repsol discovered gas in Kali Berau Dalam-2 well.

Eni Bags Two Exploration Blocks Onshore Egypt
Friday, February 15, 2019 Eni is being granted two onshore blocks further strengthening its position in Egypt.

BOEM Plans Gulf of Mexico Lease Sale in March
Wednesday, February 13, 2019 The Bureau of Ocean Energy Management is holding an oil and gas lease sale including all available unleased areas in the federal waters of the Gulf of Mexico.

Offshore Drilling Rush Could Transform South Africa
Thursday, February 07, 2019 South Africa still relies on coal for much of its energy.


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Production

8-Year Petrobras Contract Starts for TechnipFMC-DOF
Tuesday, February 19, 2019 A joint venture of TechnipFMC and DOF Subsea owns the new flexible lay and construction vessel.

China Oil Find Could Trigger Shale Drilling Surge
Tuesday, February 19, 2019 An oil discovery in a remote corner of northwestern China could trigger a surge in shale drilling.

Shell's GHG Targets Reflect Key Realization
Monday, February 18, 2019 Shell has set targets to reduce greenhouse-gas emissions from its operations and the products it sells.

OPEC Chief Urges Producers to Meet Cut Pledges
Wednesday, February 13, 2019 OPEC's top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced.

Venezuela Production May Be Less than 700,000 bpd by 2020
Monday, February 11, 2019 Rystad Energy forecasts Venezuela's crude oil production to fall below 700,000 barrels per day by 2020 if the country is not able to offset effects of US sanctions.

2nd Stage of BP West Nile Delta Project Starts Up
Monday, February 11, 2019 BP announces first gas production from the 2nd stage of its West Nile Delta development offshore Egypt.

TechnipFMC Scores Brazil Subsea Contract
Wednesday, February 06, 2019 Petrobras awarded the contract on behalf of the Libra Consortium.


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Finance and Investing

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.

Chesapeake Surges After Director Buys Shares
Wednesday, December 26, 2018 Chesapeake shares rose the most since February.


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Company Operations

Alberta Eyes $1.7 Billion Profit From Crude-by-Rail Project
Tuesday, February 19, 2019 The deal between Canadian Pacific Railway and Canadian National Railway entails leasing 4,400 rail cars over three years.

OPITO Appoints Ex-Transocean Manager
Tuesday, February 19, 2019 Global energy industry skills body OPITO has appointed ex-Transocean manager Stuart Clow as a director.

Kosmos Founding Partner to Retire
Monday, February 18, 2019 Kosmos Energy's chief exploration officer and founding partner, Brian F. Maxted, has decided to retire from the company.

Noble to Buy Newbuild Jackup
Friday, February 15, 2019 Rig expected to begin operations during the third quarter of 2019.

PTTEP Boosts Stake in Sinphuhorm Project
Friday, February 15, 2019 PTTEP SP Limited has signed an agreement to acquire a 33.8% stake in APICO LLC.

ExxonMobil Extends Rowan Drillship Contract
Thursday, February 14, 2019 The supermajor has contracted the ultra-deepwater drillship since September 2018.

Harvest Oil & Gas Sells San Juan Basin Assets
Thursday, February 14, 2019 US independent Harvest Oil & Gas is exiting the San Juan Basin, just months after emerging from bankruptcy.


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