Oil & Gas News

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Guyana-Suriname Basin Emerges as a Hotbed of Oil, Gas Exploration

Industry Headlines

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.

Q&A with Sudhir Pai, Schlumberger Robotics Services' Managing Director
Friday, November 17, 2017 Schlumberger's Sudhir Pai talks robotics, the downturn and more with Rigzone.

'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.

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).

Oil Rises Over 2%, But Shows First Weekly Fall In Six
Friday, November 17, 2017 Oil rebounded more than 2% on Friday after falling for five straight sessions.

Shale King Hamm Wants to Give Oil Forecasters a Reality Check
Thursday, November 16, 2017 Hamm blames overly optimistic government production predictions for depressing US oil prices.

BLOG: Your Belly Might Not Be the Only Thing Full Around Thanksgiving
Thursday, November 16, 2017 Trade group expects strong holiday sales at c-stores.

Four Trends to Watch in Artificial Lift
Thursday, November 16, 2017 'Artificial lift first' mindset will help companies win in unconventionals, says ASME Fellow.

Oil Extends Losing Streak On US Oversupply Worries
Thursday, November 16, 2017 Oil prices ended lower again on increased concerns about growth in US production and inventories.


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Exploration

Guyana-Suriname Basin Emerges as a Hotbed of Oil, Gas Exploration
Friday, November 17, 2017 Oil exploration in the Guyana-Suriname basin has stepped up following ExxonMobil's major discovery there.

Ghana Opens Talks With Exxon On Deepwater Drilling Contract
Monday, November 13, 2017 Ghana has opened talks with ExxonMobil to allow the US oil firm to undertake deepwater exploration off its coast, a deputy energy minister says.

Central Park's Got Nothing on Exxon's Super-Long Shale Oil Wells
Monday, November 13, 2017 ExxonMobil is drilling shale wells that stretch farther than the length of New York's Central Park.

Arctic Oil Drilling Under Attack as Norway Dragged to Court
Monday, November 13, 2017 A group of activists is trying to put a stop to Norway's Arctic oil exploration and forcing the country to defend itself in the first court case of its kind.

Tethys Oil: 'Exciting Years' Ahead in Omani Blocks
Tuesday, November 07, 2017 Tethys is optimistic about its prospects in Oman Blocks 3&4.

Eco Gains Key Clearance Ahead of Potential Drilling Offshore Namibia
Thursday, November 02, 2017 Eco (Atlantic) Oil & Gas Ltd receives a key clearance ahead of potential drilling in the offshore Cooper block (PEL30) in the Walvis Oil Basin in North Central Namibia.

Greenland Will Offer Oil, Gas Concessions Next Year-Minister
Tuesday, October 31, 2017 Greenland will offer oil and gas concessions off its west coast next year.


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Production

NPD Grants Consent for Production Start Up of Maria Field
Friday, November 17, 2017 The Norwegian Petroleum Directorate (NPD) grants consent for the start-up of production from the Maria field in the Norwegian Sea.

Saudi Energy Minister: Too Early To Make Assessment On Oil Output Cut
Thursday, November 16, 2017 Saudi Arabia's Energy Minister Khalid al-Falih says it was too early to make an assessment on a possible extension to global oil output cuts.

IEA: US To Account For Most World Oil Output Growth Over 10 Years
Thursday, November 16, 2017 The United States is expected to account for more than 80% of global oil production growth in the next 10 years, IEA says.

About 75,000 Bpd Of Gulf Oil Output Still Shut After Shell Fire
Wednesday, November 15, 2017 A combined 75,206 barrels per day of oil and 215,122 million cubic feet per day of natural gas production are shut-in.

Sudanese Oil Min Says In Talks With Foreign Firms For Oil Industry
Tuesday, November 14, 2017 Sudan has held talks with Russian oil firm Lukoil and other companies from the United States and Canada on the development of its oil industry after the lifting of U.S. sanctions.

Eni Enters E&P Agreement for Block 52, Offshore Oman
Tuesday, November 14, 2017 Eni SpA enters into an exploration and production sharing agreement (EPSA) for Block 52, located offshore Oman.


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Finance and Investing

London High Court Judge Rules In Favour Of Creditors In Dana Gas Sukuk Case
Friday, November 17, 2017 A High Court judge in London rules in favour of creditors in a case over the validity of the purchase undertaking for about $700 million of Islamic bonds issued by the UAE's Dana Gas.

Petrobras Seals $1B Financing From Banks, Repays $500MM Debt
Friday, November 17, 2017 Brazilian state-controlled oil company Petroleo Brasileiro secures $1B in financing from a banking syndicate headed by Standard Chartered PLC.

Offshore Oil Service Firms Dominate North American Energy Bankruptcies
Thursday, November 16, 2017 Offshore oil drilling and service companies are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone.

Russia's Rosneft Says To Invest Over $2 Bln In Egypt's Zohr In 2018-2021
Tuesday, November 14, 2017 Rosneft will invest more than $2 billion in Egypt's Zohr gas field in the next four years, the company says.

Noble Group Shares Drop To Lowest Since 1999 After Co-CEO Quits
Tuesday, November 14, 2017 Shares in Singapore-listed Noble Group tumble as much as 12.7% after Jeffrey Frase resigns as co-chief executive officer.

Oman's Duqm Refinery To Seek $6B Bank Funding Soon - Sources
Monday, November 13, 2017 Oman's Duqm Refinery and Petrochemical Industries Co will approach banks in about 2 weeks for the debt financing it needs to back a $6 billion refinery project.


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Company Operations

German Gas Supplier VNG In Talks To Sell Norwegian Energy Business -Sources
Friday, November 17, 2017 German gas supplier VNG is in talks to sell a majority stake in its Norwegian Norge oil and gas business, which could fetch up to $500 million, 3 banking sources say.

Saipem Secures Onshore Services Deals Worth Around $1B
Friday, November 17, 2017 Saipem wins new contracts in Saudi Arabia and Mexico, and additional works of existing contracts in Saudi Arabia and Kazakhstan.

BHP Eyes Two-Year Exit From Shale; Also Selling Nickel
Thursday, November 16, 2017 BHP Billiton hopes to fully divest its troubled U.S. onshore shale business in around 2 years.

Premier Oil Seeking Buyers For Stake In Indonesia Gas Field
Thursday, November 16, 2017 Premier Oil is seeking buyers for a 25% stake in the Tuna field development in Indonesia after reaching a gas sale deal with Vietnam.

New Aberdeen Oilfield Services Company Wins First Contract
Thursday, November 16, 2017 Aberdeen headquartered energy services firm Well-Safe Solutions has landed its first contract after launching in July.

Wentworth Resources Relocating Head Office to London
Thursday, November 16, 2017 Wentworth Resources Limited is relocating its head office and executive management team from Calgary, Canada, to London, UK, as part of a 'restructuring process'.


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Policy

Tillerson Flap Bad Timing for Iran Decision: Balance of Power
Thursday, October 05, 2017 Signs of friction are again plaguing Donald Trump's White House at a pivotal moment for his policy agenda.

Oil Drillers May See Big U.S. Tax Cut - If Deductions Survive
Thursday, October 05, 2017 U.S. oil explorers could see a multibillion-dollar benefit from a move to slash the U.S. corporate tax rate but some of the industry's biggest tax breaks could also be under fire.

Amid Skepticism, Nigeria Continues to Move Forward to Revamp its Government
Thursday, August 10, 2017 Operators, experts remain cautious as Africa's No. 1 oil producing nation passes a bill to reduce corruption.

US Energy Agency to Take on $50 Billion Backlog as Senate Acts
Friday, August 04, 2017 The main US energy regulator can get back to the business of approving multibillion-dollar natural gas pipelines after the Senate moved to fill two of four vacancies at the long-crippled agency.

Japan To Start Work On Revising Basic Energy Policy Next Week
Tuesday, August 01, 2017 Tokyo will begin discussions on a revision of Japan's basic energy plan next week, Minister of Economy, Trade and Industry Hiroshige Seko says.

Pennsylvania May Impose Severance Tax
Friday, July 28, 2017 Operating in the Keystone State might get more expensive for the natural gas industry.


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Refining

Romania Closes One Case Against Russia's Lukoil, Related Trial Still On
Friday, November 17, 2017 Romanian prosecutors have decided to close a criminal case against Russia's Petrotel Lukoil refinery.

Kemp: Distillate Fuel Oil Market Set To Tighten In 2018
Friday, November 17, 2017 US refineries are struggling to meet booming demand for distillate fuel oil at home and in export markets.

Middle East, US Crude Oil Curbs Indian Appetite For African Supplies
Friday, November 17, 2017 India's imports of African crude oil in October plunged to their lowest in over 4 years, turning to the United States and Middle East.

Indian State Oil Firms Betting On Natural Gas As Next Big Thing
Friday, November 17, 2017 India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix.

Sources: China's Zhenhua Oil Wins First Diesel Tender With Iraq's SOMO
Thursday, November 16, 2017 Zhenhua Oil will supply diesel to Iraqi state-oil marketer SOMO through a term contract for the first time.

China's Oil Refiners Rush To Cash In On Bumper Profits
Thursday, November 16, 2017 Chinese oil refiners are churning out record amounts of fuel in the last quarter of 2017, looking to cash in on the best refining profits in nearly two years after a rally in diesel and gasoline prices.

Venezuela's PDVSA To Tap Oil Customers To Pay $449MM To ONGC
Wednesday, November 15, 2017 PDVSA will use existing crude oil customers or new Indian state buyers as intermediaries to settle $449 million owed to India's ONGC Videsh.

Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO
Wednesday, November 15, 2017 Petrobras CEO Pedro Parente said he will meet this month with the CEO of China National Petroleum Corp.

Initial Negotiations with Saudi's Aramco to Refine Oil in Egypt - Oil Mnstr
Tuesday, November 14, 2017 Egyptian Oil Minister Tarek El Molla said initial negotiations have taken place with Saudi Arabian state oil company Aramco to refine oil in Egypt.


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Biofuels

Biofuels Fight Is Brewing Between US and Brazil Over Ethanol
Friday, November 10, 2017 The US biofuels industry, fresh off a win against Big Oil, is lining up for a fight with Brazil.

What You Need to Know About Converting Plastic Bags into Sustainable Fuel
Thursday, November 09, 2017 Processing used plastic has dual benefits - by reducing waste in landfills and providing alternative sources of fuel.

Peak Oil? Majors Aren't Buying Into The Threat From Renewables
Wednesday, November 08, 2017 Leaders of the world's biggest oil firms are not buying the argument that their traditional business faces any imminent threat.

US Subpoenas Icahn Over Biofuel Policy While Trump Adviser
Wednesday, November 08, 2017 Federal investigators have issued subpoenas for information on Carl Icahn's efforts to change biofuel policy.

OPEC Sees Oil Use Peak in Late 2030s If Electric Cars Boom
Tuesday, November 07, 2017 A larger-than-expected boom in electric vehicle sales could cause global oil demand to peak and flatten out in the late 2030s, OPEC says.

Exxon Is Spending $1 Billion a Year to Research Green Energy
Friday, November 03, 2017 One of the world's biggest oil companies is pumping more than $1 billion a year into alternative forms of energy.


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Petrochemical

China's CEFC, Rosneft To Study South China Petrochemical Complex
Friday, November 10, 2017 Private conglomerate CEFC China Energy and Rosneft agree to study the possibility of building a petrochemical complex in South China.

Shell's Pennsylvania Project Hits Milestone
Wednesday, November 08, 2017 Multibillion-dollar petchems project transitions from early works to main construction.

CNPC Plans to Cut Gas Supplies to Industrial Users-State Media
Monday, November 06, 2017 CNPC expects natural gas shortages this winter.

Kuwait's PIC Signs Contract with US Jacobs for Plant in Canada
Monday, November 06, 2017 Jacobs will be in charge of carrying out front-end engineering and design for a propylene and polypropylene facility in Alberta.

Petrochemicals Group Ineos to Buy British Fashion Brand Belstaff
Monday, October 30, 2017 It's the latest off-beat project by Ineos's billionaire founder Jim Ratcliffe.

LyondellBasell Approaches Brazil's Braskem for Takeover-WSJ
Monday, October 30, 2017 A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.


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Pipelines

South Dakota Pipeline Spill Hits TransCanada Shares, Canada Crude Price
Friday, November 17, 2017 Canadian heavy crude prices and TransCanada shares slid as officials in Nebraska mulled whether to approve another pipeline proposed by the company.

TransCanada's Keystone Pipeline Shut After 5,000-Barrel Leak In US
Thursday, November 16, 2017 TransCanada has shut part of its Keystone pipeline after 5,000 barrels of oil leaked in Amherst, South Dakota, the company says.

Djibouti Signs Preliminary Deal With China's POLY-GCL For $4B Gas Project
Thursday, November 16, 2017 China's POLY-GCL Petroleum Group Holdings Ltd signs an MoU to invest $4B in a natural gas project in Djibouti.

Turkish, Iraqi Officials Discuss Resuming Kirkuk Oil Exports
Thursday, November 16, 2017 A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports.

Keystone XL Opponents Make Last-Gasp Effort In Nebraska
Wednesday, November 15, 2017 Opponents of TransCanada's Keystone XL pipeline have launched a last-minute public relations blitz before Nebraska regulators weigh in on its route next week.

Pipeline Partnerships Face Identity Crisis That's Killing Shares
Wednesday, November 15, 2017 MLPs are seeking to appeal to a broader audience to thrive.

Kinder Morgan Appeals to Canada Regulator Over Trans Mountain Pipeline
Tuesday, November 14, 2017 Kinder Morgan Canada Ltd has appealed again to the country's energy regulator, asking it to set up a process to resolve potential disagreements with provincial or municipal governments over its planned Trans Mountain oil pipeline expansion project.


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Terminals and Storage

US Oil Exports Boom, Putting Infrastructure To The Test
Monday, October 30, 2017 US crude exports have boomed since the decades-old ban was lifted less than two years ago.

Kemp: US Natural Gas Prices Under Pressure Even As Stocks Tighten
Friday, October 20, 2017 US natural gas stocks continue to tighten, but most traders appear unconcerned.

US Regulator To Monitor Winter Natgas Supply In California, New England
Friday, October 20, 2017 US energy regulators will pay attention to natural gas supply issues in Southern California and New England this winter.

Could Mexico Be the Next Panama Canal for Gas? Drillers Think So
Friday, October 20, 2017 America's drillers are looking for a cheaper and quicker route.

Asia Oil Buyers Turn To US In Hunt For Cheap Supply
Monday, October 16, 2017 Asia is set to ramp up crude oil imports from the United States in late 2017 and early next year.

Russell: China Crude Oil Storage Splurge Is OPEC's Best Friend
Monday, October 16, 2017 China's crude oil imports surged to the second-highest on record in September, but this isn't a sign of supercharged demand in the world's second-biggest economy.


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LNG/LPG

Hoegh LNG: Pakistan LNG Import Project Consortium Folds
Thursday, November 16, 2017 A consortium behind a LNG import project in Pakistan has been dissolved.

Santos Seen Luring More Bids After Rejecting $7.2 Billion Offer
Thursday, November 16, 2017 A bid for Santos may trigger counter offers for the Australian oil and gas producer that has stakes in some of the world's cheapest LNG.

Eni's Giant Gas Field Prompts Egypt to End Imports in 2018
Wednesday, November 15, 2017 Egypt will stop importing LNG in 2018 and may eventually export gas.

Trade: Pakistan LNG Passes On Trafigura, Gunvor Cargo Deliveries
Wednesday, November 15, 2017 Pakistan LNG Ltd has decided against awarding in a tender three LNG cargoes.

Japan's JERA Imports First LNG Cargo Shipped From Chevron's Wheatstone Site
Monday, November 13, 2017 Japan's JERA Imports First LNG Cargo Shipped From Chevron's Wheatstone Site

RIA: Moscow, Riyadh Agree To Explore Aramco Taking Part In Novatek Project
Monday, November 13, 2017 Russia and Saudi Arabia have agreed to study the possibility of Saudi Aramco taking part in Novatek's Arctic LNG 2 project.


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