Govt & Regulatory News

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Aramco Signs Deals Worth Over $21B
Wednesday, February 26, 2020 Saudi Aramco has signed 66 Memoranda of Understanding and strategic and commercial collaborations worth more than $21 billion.

Shell Plans Major Drilling in Mexico
Wednesday, February 26, 2020 Royal Dutch Shell is pushing ahead on its massive deepwater drilling plan in Mexico.

Thousands Sign Up to BSEE Safe Text Service
Wednesday, February 26, 2020 The U.S. Bureau of Safety and Environmental Enforcement has revealed that its BSEE!Safe text notification service now has over 5,300 subscribers.

Oil Extends Drop After Plunging on US Virus Warning
Wednesday, February 26, 2020 Oil extended losses below $50 a barrel after plummeting more than six percent over the previous two sessions on fears the fast-spreading coronavirus will take a major toll on global economic growth.

Williams, Partners Ditch Constitution Pipeline Plans
Wednesday, February 26, 2020 The underlying risk adjusted return for the project has dwindled so much that further development is no longer supported.

Equinor Ditches Great Australian Bight Drill Plan
Tuesday, February 25, 2020 Equinor has informed the Australian authorities that it will discontinue its exploration drilling plan (Stromlo-1) in the Ceduna sub-basin offshore South Australia.

No OPEC Oil Cut Decision Yet Says Saudi Minister
Tuesday, February 25, 2020 OPEC hasn't made a decision yet on whether to extend or modify its agreement to cut oil output.

Oil Edges Up with Virus Fallout Still Unknown
Tuesday, February 25, 2020 Oil recovered some of its losses following the biggest drop in almost seven weeks as investors attempted to gauge the economic impact of the fast-spreading coronavirus and the potential response from producers.

Coast Guard Okays LNG Bunkering Vessel Design
Tuesday, February 25, 2020 Above is a rendering of a Q-LNG ATB vessel designed to carry 8,000 cubic meters of LNG. IMAGE SOURCE: Harvey Gulf International Marine

Alta Mesa Laying off 91 Employees, Closing Headquarters
Tuesday, February 25, 2020 At the end of the notice period, the entire facility will be closed, the WARN letter stated.

Fight Over Mexico Oil Field Snags Stake Sale
Monday, February 24, 2020 The conflict over Zama has ignited concerns in the oil sector that politics will override economic and technical data.

Sanctions-Free Rosneft Affiliate Boosts Oil Exports
Monday, February 24, 2020 There are already signs that the latest US sanctions thrown at Venezuela are failing.

Dominion Hits Critical Point on Pipeline at Court
Monday, February 24, 2020 The fate of Dominion Energy's planned $8 billion Atlantic Coast Pipeline will be tested Monday.

Oil Slumps as Global Virus Spread Quickens
Monday, February 24, 2020 Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.

NPD Gives Skogul Go-Ahead
Monday, February 24, 2020 The Norwegian Petroleum Directorate has granted its consent for the start-up of the Skogul field in the North Sea.

Aramco Gets Jafurah Approval
Monday, February 24, 2020 Saudi Aramco has announced regulatory approval of the development of the Jafurah unconventional gas field in the Eastern Province.

Teck Pulls Oil-Sands Mine Project
Monday, February 24, 2020 Teck Resources is pulling its application for a controversial new oil-sands mine in Alberta.

Noble Corp. Receives NYSE Notice
Monday, February 24, 2020 Noble has six months to bring its share price and thirty trading-day average share price above $1.00.

Oil Demand Growth Set for Strong 2021
Friday, February 21, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...

Oil Rally Sputters on Renewed Virus Concern
Friday, February 21, 2020 Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.

Maduro Shakes Up PDVSA, Declares Oil 'Emergency'
Thursday, February 20, 2020 Venezuela's President Nicolas Maduro announced a commission to revamp PDVSA, redoubling efforts to shore up the nation's crumbling oil industry.

Oil Shrugs Off Virus to Eye $60
Thursday, February 20, 2020 Oil extended gains to an eighth day on optimism that China will be able to soften the demand hit from the coronavirus.

Texas Official Unveils Flaring Criterion
Thursday, February 20, 2020 An official with the Railroad Commission of Texas (RRC), which oversees various oil and gas industry activities in the state, on Tuesday unveiled what reportedly is a new criterion for gas flaring.

OPEC Confirms Meeting Date, Ends Saudi-Russia Scuffle
Wednesday, February 19, 2020 Plans for an emergency gathering have faded away.

Oil Demand Growth to Quintuple Next Year
Wednesday, February 19, 2020 Global oil demand growth will drop to 0.44 million barrels per day this year but rebound to 2.34 MMbpd in 2021.

OGUK Responds to Coronavirus
Wednesday, February 19, 2020 Industry body Oil & Gas UK has issued a comment on the coronavirus, following concerns regarding the new virus in the UK.

Supply Risks Push Crude Back Toward $60
Wednesday, February 19, 2020 Oil jumped back above $58 a barrel and was set for the longest run of gains in more than a year.

US Oil Export Story Has Really Just Started
Wednesday, February 19, 2020 All told, the US could become the largest crude oil exporter within five years.

US Slaps Rosneft With Sanctions for Venezuelan Oil-Trade Ties
Tuesday, February 18, 2020 The move represents the latest escalation in the Trump administration's campaign to oust Nicolas Maduro.

Trudeau Asks for Patience Amid Disruptive Rail Blockades
Tuesday, February 18, 2020 Indigenous-rights protests that have brought rail traffic to a halt across Canada drag on.

Russia Faces $50B Payout
Tuesday, February 18, 2020 Russia may have to pay a record $50 billion arbitration ruling after a Dutch court ruled in favor of the former owners of Yukos Oil Co.

Petrofac Bags $1.6B Contracts for Mega Project
Tuesday, February 18, 2020 Petrofac Emirates has been awarded two contracts by Abu Dhabi National Oil Company worth a total of around $1.65 billion.

Oil Snaps Rally as Investors Assess Virus Measures
Tuesday, February 18, 2020 Oil snapped the longest run of daily gains this year as investors assessed the demand hit from the coronavirus and stimulus measures being rolled out to cushion its economic impact.

Sheridan Production, Extraction Oil and Gas Reveal Layoffs
Tuesday, February 18, 2020 Market conditions are still forcing some operators to take drastic measures.

Short-Sellers Give Oil a Break
Monday, February 17, 2020 Short-sellers are giving oil a reprieve after the global coronavirus scare led them to double bearish wagers in just two weeks.

Fading Hope for Emergency OPEC Meeting Caps Oil Rally
Monday, February 17, 2020 Oil was steady after the biggest weekly gain since September as hopes for an OPEC+ emergency meeting on the virus faded.

Tullow Gets Green Light on Gas-Flaring Request
Friday, February 14, 2020 The permission will assist heavily indebted Tullow to support production in its offshore fields.

Pemex Ex-CEO Arrest Puts AMLO in Delicate Situation
Friday, February 14, 2020 The arrest of a former top government official is a breakthrough for Mexico's crackdown against corruption, but it puts President Andres Manuel Lopez Obrador in a delicate spot.

IEA Sees First Global Oil Demand Drop in a Decade
Thursday, February 13, 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China's economy, the International Energy Agency said.

All Eyes on McDermott
Thursday, February 13, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...

Oil Rally Stumbles After Jump in Virus Cases
Thursday, February 13, 2020 A nascent rebound in oil prices ran into turbulence after China's Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections.

EIA Cuts 2020 Oil Price Forecast
Thursday, February 13, 2020 The U.S. Energy Information Administration has cut its Brent oil price forecast for 2020.

NPD Gets Back Most of Swindled Funds
Wednesday, February 12, 2020 The Norwegian Petroleum Directorate has revealed that $1.84 million of the $1.90 million it was frauded out of last year has been returned.

Rystad Slashes Oil Demand Growth Forecast
Wednesday, February 12, 2020 Rystad Energy slashes its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus.

Oil Rallies While Russia Ponders OPEC+ Plan
Wednesday, February 12, 2020 Oil rallied back above $50 a barrel as investors waited to see whether Russia would accept an OPEC+ plan for production cuts to cope with demand destruction from the coronavirus.

$15B Texas LNG Project Wins DOE Authorization
Wednesday, February 12, 2020 NextDecade's Rio Grande facility will be able to export LNG to FTA and non-FTA countries.

Oil Bounces Back from One-Year Low
Tuesday, February 11, 2020 Oil bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market.

Trump Wants to Sell 15 Million Barrels From US Oil Reserve
Monday, February 10, 2020 The proposed drawdown would be in addition to about 260 million barrels of congressionally mandated sales through fiscal year 2027.

Trading Giants Seek Oil Storage at Sea as Virus Creates Glut
Monday, February 10, 2020 The industry is dealing with an oil glut that's emerged since the outbreak of the coronavirus in China.

Shipping Gets Smashed by Coronavirus
Monday, February 10, 2020 The shipping industry tends to do badly when Chinese demand disappoints, but the outbreak of the coronavirus has done more than just damage the amount of cargo that needs to be transported.