Industry Headlines News for Europe & Russia

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Oil Crosses $70 Threshold in London as Worldwide Glut Dwindles
Thursday, January 11, 2018 Oil briefly topped $70 a barrel in London for the first time in three years.

Ineos Shale Challenges Scottish Fracking Ban
Wednesday, January 10, 2018 Ineos Shale, along with its co-venture partner Reach, is challenging the Scottish government's effective ban on onshore unconventional oil and gas development.

Aberdeen to Lose 5,500 More Energy Jobs, Council Document Highlights
Wednesday, January 10, 2018 An Aberdeen City Council document highlights that 5,500 further jobs are expected to be lost in the city's energy sector by 2027.

Norway's Oil Industry To Boost Staffing In Coming Years-Energy Minister
Tuesday, January 09, 2018 Norwegian oil companies and their suppliers will hire more people in the coming years, Norway's Minister of Petroleum and Energy says.

OPEC's Cheer Over 2018 Oil Rally Tinged By Shale Worries
Tuesday, January 09, 2018 Oil's price rally this year to its highest since May 2015 may seem a source of glee for OPEC.

Investors Sense Opportunities In Big Oil - But Mind The Gap
Friday, January 05, 2018 Investors are gaining confidence - up to a point - that 2018 will be the year of oil stocks.

DEA Says Talks Over Final Merger Agreement With Wintershall Ongoing
Thursday, January 04, 2018 Talks over a final agreement to merge BASF's oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, are still ongoing.

Why I Returned to the Oilfield...
Thursday, January 04, 2018 Oil and gas workers detail their journeys exiting - and coming back - to the industry.

Rig Trends: Offshore Rig Fleet Poised for Comeback, but More Time is Needed
Thursday, January 04, 2018 Most of the 2018 indicators are positive, and should they shake out as predicted, the second-half of next year could finally be the start of a true recovery.

Oil, Gas Outlook: M&A, Asset Development Key to Future Growth
Wednesday, January 03, 2018 Argo Consulting's Alan Free discusses where the silver lining may be for oil and gas in 2018.

Shell To Retain Ownership of A/S Dansk Shell After Agreement Termination
Tuesday, January 02, 2018 Shell will retain ownership of A/S Dansk Shell after a sales agreement it signed with Dansk Olieselskab AS (DO) last year was terminated.

Moody's Sees Oil Prices At $40-$60 Per Barrel This Year
Tuesday, January 02, 2018 Moody's Investors Service expects oil prices in the range of $40 to $60 per barrel in 2018.

2018 Outlook: Survey Reveals Industry's Outlook on Oil Prices, Jobs
Tuesday, January 02, 2018 Rigzone readers share their outlooks on some of the most pertinent issues affecting the oil and gas industry.

Top 5 Articles by Rigzone Staff in 2017
Friday, December 29, 2017 Rigzone reveals some of its most-read articles written by staff in 2017.

Top Rigzone-Staff Picks for 2017
Thursday, December 28, 2017 Rigzone's editors highlight articles they've particularly enjoyed writing in 2017.

Five Oil Signals to Watch as 2018 Pits OPEC Against Shale
Thursday, December 28, 2017 Oil traders are going to have their work cut out for them in 2018.

New OGTC Venture 'Very Likely' to Create Oil Jobs
Wednesday, December 27, 2017 Aberdeen, North East Scotland and other regions across the UK could see new jobs as part of the OGTC's latest offering.

Global Conventional Discoveries Hit Record Low
Friday, December 22, 2017 Global conventional discoveries hit a record low in 2017, coming in at less than seven billion barrels of oil equivalent.

OPEC Starts Working On Oil Supply Cut Exit Strategy - Sources
Thursday, December 21, 2017 OPEC has started working on plans for an exit strategy from its deal to cut supplies with non-member producers, two OPEC sources say.

BLOG: Wrapping Up a Year of Oil Price Predictions
Thursday, December 21, 2017 Volatility is the name of the game for oil prices, and in this end-of-year wrap-up, Rigzone shows the ups and downs that were present in this year’s predictions.

Analysts Raise 2018 Oil Price Forecasts
Wednesday, December 20, 2017 Oil and gas analysts at investment banking firm Jefferies raise their 2018 Brent Crude and WTI oil price forecasts.

Sanction-Proof Oil Rig Beats US Policy From Cuba to Russia
Tuesday, December 19, 2017 For Vladimir Putin, this is a second energy-sector victory in a little over a week.

Incident at Romanian Well, Staff Reported Safe
Monday, December 18, 2017 An incident has occurred at the Moftinu 1001 well in Romania.

Aker BP Submits $1.8B Field Development Plans
Friday, December 15, 2017 Aker BP ASA has submitted development plans for the AErfugl (formerly Snadd), Valhall Flank West and Skogul (formerly Storklakken) fields to the Norwegian Ministry of Petroleum and Energy.

What Goes Up Must Come Down: the Challenge of Rig Decommissioning
Friday, December 15, 2017 Decommissioning oil rigs is quickly becoming a major financial and logistical problem for virtually every oil company.

OPEC Sees Balanced Oil Market By Late 2018 As Cuts Erode Glut
Wednesday, December 13, 2017 OPEC expects the world oil market to be balanced by late 2018.

Global Oil Sector Will Shift to Upcycle in 2018
Friday, December 08, 2017 The global oil and gas sector will shift from downcycle to upcycle in 2018, according to a new report from BMI Research.

BLOG: What do Rigzone Readers Think of the OPEC/NOPEC Deal?
Thursday, December 07, 2017 Was the latest OPEC/NOPEC agreement sufficient?

Report: Offshore Oil, Gas Helicopter Expenditure to Hit $16B to 2022
Wednesday, December 06, 2017 Offshore oil and gas helicopter expenditure will total $16 billion over 2018-2022, according to a new report published by Westwood Global Energy Group.

UKCS Supply Chain Collaboration Improving
Tuesday, December 05, 2017 Collaboration within the UKCS upstream supply chain is improving, according to an annual sector survey published by Deloitte and Oil & Gas UK.

Statoil Greenlights $6B Flagship Arctic Oil Project
Tuesday, December 05, 2017 Statoil gave the final go-ahead to a flagship Arctic oil project after slashing costs by half.

Oilfield Services Collaboration Set to Continue
Monday, December 04, 2017 The collaboration employed by services and equipment companies in the oil and gas sector during the oil price downturn is set to continue.

OMV Buys Stake in Western Siberia Gas Field for $2B
Friday, December 01, 2017 Vienna based oil and gas firm, OMV, completes the acquisition of a 24.99% share in the Yuzhno Russkoye natural gas field.

OPEC, Russia Agree Oil Cut Extension To End Of 2018
Thursday, November 30, 2017 OPEC agrees to extend oil production cuts until the end of 2018, Reuters reports.

Survey: Oil Sector Confidence Increasing
Thursday, November 30, 2017 Confidence in the oil sector is increasing, according a new industry survey by Aberdeen & Grampian Chamber of Commerce (AGCC).

UK Government Issues Support for Shale Industry
Wednesday, November 29, 2017 The UK government has lent its support to the UK's shale gas industry in a recently published white paper.

Aberdeen Services Company to Grow Workforce to 2020
Tuesday, November 28, 2017 Aberdeen-based services firm confirms its commitment to grow its workforce to 400 people in the next 3 years.

IEA Chief Sees Oil Markets Tightening Towards Second Half Of 2018
Tuesday, November 28, 2017 The global oil market could tighten towards the second half of 2018 if demand remains robust and key producers continue their current policies.

Market Expectations of OPEC Meeting - Analysts
Monday, November 27, 2017 What does the market expect from the latest OPEC meeting?

Statoil to Buy Total Assets Offshore Norway in $1.45B Deal
Monday, November 27, 2017 Total S.A agrees to sell all of its interests in the Martin Linge field (51 percent) and Garantiana discovery (40 percent) on the Norwegian Continental Shelf to Statoil ASA.

OPEC Sees Market Rebalancing after June as it Mulls Oil Cut Extension
Monday, November 27, 2017 Oil markets will rebalance after June 2018 at the earliest, an OPEC working panel concluded, according to OPEC sources, signalling the need to extend existing production cuts well into next year.

Serica to Buy BP Stake in North Sea Fields, Welcome 100+ Staff
Tuesday, November 21, 2017 Serica UK agrees to acquire BP plc's interests in the Bruce, Keith and Rhum fields in the North Sea, in a deal which will see the transfer of approximately 110 BP staff to the company on completion.

Aker BP Enters Drilling, Well Alliances with Halliburton, Maersk, Odfjell
Tuesday, November 21, 2017 Aker BP ASA enters into separate drilling and well alliance agreements.

Machine Learning Engineers in Oil Will Become 'Bored' Without Quality Data
Tuesday, November 21, 2017 Machine learning engineers being hired into the oil and gas industry will become 'bored' if companies can't provide quality data for them to work on.

BiFab 'Secures' Future, Workforce
Monday, November 20, 2017 Burntisland Fabrications Limited (BiFab) 'secures' its future after reaching a 'financial solution' with its key stakeholders.

Norway Oil Bosses Insist End Isn't Nigh After $35 Billion Shock
Monday, November 20, 2017 Can Norway dump $35B in oil and gas investments, and simultaneously convince that same industry to throw money into the country's own fossil-fuel future?

Siemens to Cut Almost 7,000 Jobs Worldwide
Friday, November 17, 2017 Siemens AG will cut around 6,900 jobs worldwide in its Power and Gas Division (PG), Power Generation Services Division (PS) and Process Industries and Drives Division (PD).

'Strong Opportunities' Available for Innovative Engineering Firms
Friday, November 17, 2017 There are still 'strong opportunities' available for engineering firms in the offshore oil and gas sector with the capacity to deliver fast, innovative projects.

Norway's Oil Sell-Off Plan Is 'Shot Heard Around the World'
Friday, November 17, 2017 Norway's proposal to sell off $35B in oil and natural gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change.

BiFab Workers Rally in Scotland
Thursday, November 16, 2017 BiFab workers and their families have rallied in Edinburgh, Scotland, to urge members of parliament to help staff at the energy services firm, which is facing the threat of administration.

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