Industry News

RSS Latest News

  • ExxonMobil, Petrobras sign alliance MOU December 15, 2017
    ExxonMobil Corp. and Petroleo Brasileiro SA (Petrobras) have signed a memorandum of understanding envisioning a strategic alliance to identify and evaluate business opportunities.
  • Lukoil plans Iraqi Block 10 seismic work December 15, 2017
    Lukoil plans additional seismic surveys over Eridu oil field on Block 10 in Iraq and over southern and central parts of the block not yet surveyed. It signed contracts with state-owned Oil Exploration Co. to acquire 983 sq km of 3D data at Eridu field and 3,500 line-km of 2D data elsewhere on the block. 
  • Baker Hughes: US rig count falls 1 unit to 930 December 15, 2017
    The US drilling rig count fell by 1 unit gain to 930 rigs working during the week ended Dec. 15, data from Baker Hughes indicate. This total is up 293 units from a year ago.  
  • NAFTA’s energy-trade benefits risked by weakened deal, House panel told December 15, 2017
    While the North American Free Trade Agreement could be revised to improve energy trade among Canada, Mexico, and the US, scrapping or weakening it would jeopardize progress that already has been made, four witnesses told a US House Energy and Commerce subcommittee on Dec. 13.
  • US permitting improvement council making progress, official says December 15, 2017
    A federal council formed to improve environmental application reviews for major projects is making progress, its acting executive director told a Senate Energy and Natural Resources Committee hearing on Dec. 12.  
  • China to offer five Tarim basin blocks December 15, 2017
    The Chinese government plans to offer five oil and gas exploration licenses in the Tarim basin to nonstate operators, according to China Daily. The offering will be the third in the Xinjiang Uygur autonomous region under a program opening exploration and production to private companies.
  • Mathur named CEO of Cairn Oil & Gas December 15, 2017
    Sudhir Mathur, formerly acting chief executive officer and chief financial officer of Cairn India, which parent Vedanta Ltd. now calls Cairn Oil & Gas, has become chief executive officer. 
  • MARKET WATCH: North Sea pipeline outage supports crude prices December 15, 2017
    Oil prices rose modestly on the New York market Dec. 14, which analysts attributed to a pipeline outage in the North Sea, noting that price gains appear to be capped by recent production forecasts. The time frame for a restart of the Forties Pipeline System remains uncertain. The system was shut for repairs after a […]
  • Barclays: Global recovery of upstream spending remains intact December 14, 2017
    Global recovery of upstream spending remains intact, albeit at a measured pace that isn’t likely to materially tighten many global oil field service and equipment markets, according to the 33rd annual Barclays E&P Spending Survey.
  • Energean adds five Israeli blocks near Karish, Tanin December 14, 2017
    Energean Oil & Gas and its subsidiaries have increased to 13 the total number of licenses held in the East Mediterranean. The Israeli Petroleum Commissioner has awarded the operator Blocks 12, 21, 22, 23, and 31 offshore Israel, which were published in the country’s first round.