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US Oil Drillers Cut Most Rigs Since May 2016
U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the first time in history.Energy companies cut 10 oil rigs in the week to Dec. 7, the biggest weekly decline since May 2016, bringing the total count down to 877…
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Mexico to Cancel February Oil and Gas Auctions
Mexico's energy secretary Rocio Nahle said on Saturday that President Andres Manuel Lopez Obrador's newly installed administration would cancel two bidding rounds for oil and gas areas scheduled for February.They were slated to include auctions for 37 onshore blocks and 9 unconventional and conventional areas, including shale resources, Nahle told
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Oil Surrenders Some of its OPEC Gains as Stock Markets Soften
Oil eased on Monday, echoing the weakness in global stock markets and erasing some of the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January to prevent oversupply.Brent crude oil futures fell 90 cents on the day to $60.77 a barrel by 1510 GMT, while U.S.
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Cenovus Cuts 2019 Capital Budget
Canada's Cenovus Energy Inc said on Tuesday it would reduce its capital spending for 2019 by 4 percent amidst a broader turnaround plan following its highly criticized deal with ConocoPhillips.The company said it plans to invest between C$1.2 billion ($901.1 million) and C$1.4 billion in 2019, with the majority of the budget going to its Foster Cre
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Oil Rise as Global Equities Climb, Libya Output Drops
Oil futures rose on Tuesday with the help of an increase in global stock markets, an outage reducing Libyan crude production and a gradual decrease in Russian output.Brent futures rose 45 cents, or 0.7 percent, at $60.44 a barrel by 11:58 p.m. EST (1658 GMT), while U.S. West Texas Intermediate (WTI) crude was up 79 cents, or 1.5 percent, at $51.79.
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Rice Brothers Push for Top-level changes at EQT
EQT Corp is facing calls for a shakeup at the helm from shareholders Toby Rice and Derek Rice, who had sold Rice Energy Inc…
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OPEC and Non-OPEC Cooperation Deal to be Signed in Three Months -UAE
A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months' time in Saudi Arabia…
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Petrobras Nears Terms Over TAG Pipeline Sale
Brazil’s state-controlled oil company Petróleo Brasileiro could present a new sale and purchase agreement (SPA) before the…
Latest news
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Putin says TurkStream Gas Pipeline Could be Extended via Greece
Russian President Vladimir Putin said on Friday that the TurkStream gas pipeline could be extended further into Europe via Greece…
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Oil Surges 5 pct as OPEC Agrees Output Cut
Oil prices jumped more than 5 percent on Friday as big Middle East producers in OPEC agreed to reduce output to drain global…
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Chevron Will Boost Capital Spending in 2019
Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S.
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Strategic Appointment for Carlton Resource Solutions
Carlton Resource Solutions has strengthened its senior management team with the addition of a highly experienced director…
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Oil Falls After OPEC Delays Output Decision
Oil fell in choppy trading on Thursday after OPEC ended a key meeting having made no decision on crude output, as it prepared…
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Cenovus Expects to Spend $1.1 Bln in 2019
The chief executive of Cenovus Energy Inc said on Monday that he expects the company to invest some C$1.5 billion ($1.1 billion) in 2019…
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Oil Falls as High Inventories Outweigh Likely OPEC Cuts
Oil prices fell further on Friday as swelling inventories depressed sentiment despite widespread expectations that OPEC and…
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Oil Rises After Russia Leans Towards Output Cut
Oil reversed course and rose as much as 3 percent on Thursday, after industry sources said Russia had accepted the need to cut production…
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NOC Declares Force Majeure on Biggest Oilfield
Libya's National Oil Company (NOC) on Monday declared force majeure on exports from the El Sharara oilfield, which was seized…
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Russian and Saudi Energy Ministers to Meet at G20
Russia's energy minister Alexander Novak will meet his Saudi counterpart at the G20 summit in Argentina and discuss an oil output reduction in 2019, R
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Eni in Talks to Grow Presence in the Gulf
Italian major Eni is in talks to grow its footprint in Oman and the United Arab Emirates as part of plans to build its asset…
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After Trump Calls, Gulf OPEC Members Cover Most of Iran Oil Loss
OPEC oil supply has fallen in November from a two-year high due to U.S. sanctions on Iran, a Reuters survey found, although…
Exploration
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AET Grows in Brazil
With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels…
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Verus Petroleum Mulls 12-Fold Production Growth
Aberdeen, UK-based Verus Petroleum has secured a 12-fold increase in its production – from 1,500 to 18,000 barrels per day…
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Eni Makes New Oil Find Offshore Angola
Italy's Eni said it ha struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola.The discovery…
Drilling
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DeltaTek Appoints Johnstone
Well construction specialist, DeltaTek Global, has announced the appointment of Chris Johnstone as Operations Supervisor.Johnstone…
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Amerisur Resources Hits Oil at Indico Well in Colombia
UK-based independent full-cycle oil and gas company confirmed that Indico-1 well in Colombia reached target depth of 10,604…
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Eni Starts Production at Vandumbu Field
Italy's Eni said it has started production from the Vandumbu field in Block 15/06 through West Hub N’Goma floating production…
Production
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Eni Must Improve Safety in the Arctic -Norway Watchdog
Italian oil company Eni must do more to improve safety at its Arctic Goliat oilfield, which produces up to 100,000 barrels of crude per day…
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Trafigura Boosts LNG Volumes by 22%
Geneva based commodity trading company Trafigura increased its liquefied natural gas (LNG) traded volumes by 22% to 9.9 million…
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BW Offshore Recycling FSO Belokamenka
The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of…
