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Regional News: Europe & Russia

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Subsea 7 Axes Dividend, Sees Lower 2015 Earnings
Wednesday, March 04, 2015 Oilfield services firm Subsea 7 swings to a surprise fourth-quarter operating loss due to a decline in sales and profit margins in difficult market conditions.

Motive Offshore Restructures to Expand Global Reach, Create Jobs
Wednesday, March 04, 2015 Motive Offshore restructures to enhance its local and global operations as well as continue its rapid growth, which includes creation of new jobs.

Competitions Launched to Help Fund Energy Innovators
Wednesday, March 04, 2015 Aberdeen's Technology Showcase sees two competitions launched that offer up to $17 million to energy innovators.

Gas Flows from 3rd Interval of Wressle-1 Well
Tuesday, March 03, 2015 Egdon Resources reports that gas has flowed at 1.7 million cubic feet per day from the Penistone Flags interval of the Wressle-1 well, onshore UK.

Sources: In OMV poker, CEO Roiss Might Stay beyond June Exit Deadline
Tuesday, March 03, 2015 Gerhard Roiss, chief executive of Austrian energy group OMV, might stay on beyond a June deadline that cut his original contract short.


Drombeg Prospect Suggests Large Deep-water Fan System
Tuesday, March 03, 2015 Providence Resources says an initial evaluation of seismic data acquired over its Drombeg prospect offshore Ireland reveals morphologies that are consistent with a large deep-water fan system.

Russia's Lukoil Says 2014 Net Income Down 39%, Misses Forecast
Tuesday, March 03, 2015 Russia's second-largest oil producer Lukoil reveals that its net income fell 39 percent last year due to weaker oil prices.

Russia's Gazprom Neft Says 2014 Net Profit Down 32%
Monday, March 02, 2015 Gazprom Neft sees its net profit decline 32 percent to $2 billion due to a weaker rouble.

JKX Returns Ukraine Wells to Production
Monday, March 02, 2015 JKX Oil & Gas returns its wells in Ukraine to full production after the country ends restrictions on gas sales to industrial customers.

Newbuild Lewek Constellation Prepares for Noble Energy's GOM Assignment
Monday, March 02, 2015 Ezra's newbuild subsea construction vessel Lewek Constellation prepares to head for Gulf of Mexico assignment for Noble Energy.

Petroceltic Directors Quit following EGM Vote
Monday, March 02, 2015 Petroceltic directors Don Wolcott and Joe Mach resign from the company's board after Chief Executive Brian O'Cathain survives vote to remove him.

Jackup Safety: Q&A with ABS
Monday, March 02, 2015 Rigzone talks to David Forsyth chief surveyor at the American Bureau of Shipping about jackup safety.

Bells Toll for Europe's Largest Gas Field
Sunday, March 01, 2015 The future of the Groningen gas field in the northern Netherlands is questioned amid earthquakes.

Russia's Novatek Says Weaker Rouble Slashes 2014 Profit
Friday, February 27, 2015 Novatek's 2014 net income more than halves due to a weaker rouble.

Scots Subsea Technology Firm Calls in Administrators, 77 Jobs Lost
Friday, February 27, 2015 Accountancy firm KPMG is appointed as administrator of Specialist Subsea Services Limited amid cash flow difficulties at the company.

Oil & Gas UK Appoints New Chief Executive
Friday, February 27, 2015 Deidre Michie is appointed as the new chief executive of trade body Oil & Gas UK after a 30-year career at Royal Dutch Shell.

Russia's Rosneft May Get 300B Roubles from National Wealth Fund
Friday, February 27, 2015 Russian state oil firm Rosneft may get $5 billion from Russia's National Wealth Fund to finance five projects.

RWE To Complete DEA Disposal Very Soon
Friday, February 27, 2015 RWE says closure of the sale of its oil and gas unit DEA to Russian tycoon Mikhail Fridman is imminent; media reports completion date as March 1.

SeaBird Warns of Continued Weakness in the Seismic Market
Friday, February 27, 2015 SeaBird Exploration warns that it expects the current softness in the market for seismic data acquisition to continue to adversely affect the seismic survey industry in 2015.

Maersk Positions Self for 'New Oil Reality' as Profit Fall
Thursday, February 26, 2015 Maersk Drilling is bracing for the "new oil reality" facing the rig market by implementing cost-cutting and efficiency enhancement programs.

Repsol Defies Oil, Gas Sector Gloom with Upbeat Results
Thursday, February 26, 2015 Repsol posts a 27.1% increase in its adjusted net profit for 2014.

Top Oil Drillers Face Years Of Pain, Get A Grip On Cost
Thursday, February 26, 2015 The world's biggest offshore drillers reports plunging earnings and orders but manages to get a grip on costs to improve their chances of riding out a sectoral crisis that could last.

Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015 UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.

Petrofac FY Net Profit Falls, Order Book Grows
Wednesday, February 25, 2015 Oilfield services firm Petrofac reports a fall in 2014 net profit due to overruns on two major projects.

Wood Group PSN Appoints New CEO
Wednesday, February 25, 2015 Energy services firm Wood Group PSN appoints Dave Stewart as its new CEO.

UK Shale Gas Firm Cuadrilla Hits Further Planning Snag
Wednesday, February 25, 2015 Cuadrilla hits another obstacle to getting the gas out of the ground when a local council refuses it a permit for a site where it wanted to take geological measurements.

Gazprom Oil Arm Moves Trading From Austria Back To Russia
Wednesday, February 25, 2015 Gazprom's oil arm is shifting its trading operations from Austria back to Russia.

San Leon Announces Its First Polish Commercial Gas Find
Wednesday, February 25, 2015 Junior explorer San Leon makes its first commercial gas discovery in Poland.

UK's Weir Warns of Significant Revenue Fall as Oil Industry Slows
Wednesday, February 25, 2015 Weir Group says uncertainty in the oil and gas industry will significant reduce its 2015 revenue.

MOL Swings to Loss, Even Though Downstream Performs Well
Tuesday, February 24, 2015 MOL swings to a quarterly loss partly due to one-off costs and a steep fall in crude prices.

Analysts: Maersk May Reward Shareholders As Oil Unit Suffers
Monday, February 23, 2015 Moller-Maersk may announce a second share buyback scheme in its 110-year history, analysts say, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices.

Chevron Says Plans To Give Up Romania Shale Gas Project
Monday, February 23, 2015 Chevron says it will give up shale gas exploration plans in Romania, after an assessment showed the Black Sea state does not compete favorably with other investment opportunities.

Europa Spuds Kiln Lane-1 Well Onshore UK
Monday, February 23, 2015 Europa Oil & Gas starts drilling the Kiln Lane-1 conventional exploration well in northeast Lincolnshire.

OPITO Backs UK Campaign Encouraging Women to Pursue Careers in Oil, Gas
Friday, February 20, 2015 OPITO throws its support to the UK Government campaign Not Just For Boys. The purpose of the campaign is to increase the presence of women in traditionally male-dominated fields.

Russia's Eurasia Drilling Says Merger With Schlumberger Delayed
Friday, February 20, 2015 Eurasia Drilling says it was delaying a deal to sell a stake in the company to Schlumberger while it waited for approval from a Russian regulator.

Songa Offshore Expects 'Challenging Year'
Friday, February 20, 2015 Rig operator Songa Offshore expects 2015 to be a 'challenging year' as it expects more rigs to leave the Norwegian Continental Shelf.

GE Oil & Gas Adjusts Recruitment Strategy
Friday, February 20, 2015 Rigzone catches up with Harry Elsinga, VP Human Resources at GE Oil & Gas.

EU to 'Reframe' Russian Energy Ties When Time is Right
Friday, February 20, 2015 The EU will consider reframing energy relations with Russia when the time is right but right now it is focused on building a strategic gas partnership with Ukraine, according to a draft document.

UKOG Signs Deal to Increase Stake in Markwells Wood to 100%
Friday, February 20, 2015 UK Oil & Gas signs a deal that see its acquire a 40% interest in the Markwells Wood license in England's Weald Basin, raising its stake in the license to 100%.

OMV's Profits Buoyed by Downstream Business
Thursday, February 19, 2015 Austria's OMV posts better-than-expected fourth-quarter profits but expects North Sea Brent oil to remain at between $50 and $60 per barrels this year.

Oil, Gas Flow from 2nd Reservoir at Wressle-1 Well
Thursday, February 19, 2015 A test of a new zone at the onshore UK Wressle-1 well sees oil flow at 182 barrels per day, while producing gas at 456,000 cubic feet per day.

New Centrica Head Cuts Dividend after Energy Prices Fall
Thursday, February 19, 2015 UK energy firm Centrica cuts dividend and its 2015-2016 exploration and production budget due to weak energy prices.

Aker Solutions to Cut Norway Jobs on Weak Oil Market
Wednesday, February 18, 2015 Norwegian oil services firm Aker Solutions plans to cut its domestic workforce in response to lower demand.

Maersk Opens Aberdeen Offshore Drilling Simulation, Well Control Facility
Wednesday, February 18, 2015 Maersk Training opens a new advanced training facility in Kingswells, Aberdeen purposed to create a more competent workforce.

European Services Firms Technip, Dolphin Report Upbeat Results
Wednesday, February 18, 2015 France's Technip and Norway's Dolphin Group both report ending 2014 with strong order books.

Minister: Croatia Gets 7 Bids For Onshore Oil/Gas Exploration
Wednesday, February 18, 2015 Croatia receives 7 bids at an international tender for onshore exploration of oil and gas in the northern Drava river basin and east of the country, Economy Minister Ivan Vrdoljak says.

Eni Reassures On Dividend, Gears Up For Investment Cuts
Wednesday, February 18, 2015 Eni reassures investors with a small dividend increase while pledging to cut capital spending as low oil prices depress fourth quarter profit.

Safety Board: Dutch Gas Field Earthquake Dangers Ignored for Decades
Wednesday, February 18, 2015 The Dutch Safety Board says Shell, Exxon and the Dutch government ignored the danger of earthquakes caused by gas extraction at the Groningen gas field for decades.

UK's Wood Group Says Full-Year EBITA Rises; Shares Gain
Tuesday, February 17, 2015 Energy services firm John Wood Group reports a 3.1-percent increase in earnings.

Eidesvik Takes Delivery of 'Viking Neptun' Offshore Construction Ship
Tuesday, February 17, 2015 Eidesvik Offshore takes delivery of a new offshore construction vessel named 'Viking Neptun'.

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