Oil And Gas Industry News

The latest upstream oil and gas news from around the world.

North Dakota Oil Well Backlog Nears 1 000 Amid Price Slide

The number of North Dakota oil wells that have been drilled but not fracked rose to an all time high in August of almost 1 000

Filing Conoco Changes Bylaws To Allow Proxy Access

ConocoPhillips says its board amended its bylaws to allow minority shareholders to nominate directors

Venezuela Says Eight Non OPEC Nations Invited To Vienna Meeting

Venezuelan Oil Minister Eulogio del Pino says that 8 non OPEC countries have been invited to an Oct 21 oil meeting

Oil Prices Pare Early Gains Close Lower On Oversupply Concerns

Oil prices give up early gains and close lower after the IEA rekindled fears that the market remains over supplied

US Shale Firms See Smaller Than Expected Cuts To Credit Lines

US shale oil and gas producers have seen smaller than expected cuts to their credit lines a sign that banks could be relaxing their lending standards to help companies avoid technical defaults

IEA Oil Glut To Persist As Global Demand Growth Slows

A global oil supply glut will persist through 2016 as demand growth slows from a 5 year high and key OPEC members maintain near record output IEA says

Oil Workers in Canada Find There s No Free Lunch as Perks End

Canadian energy companies have cut thousands of jobs and scrapped projects in a drive to cut costs Now they re raiding workers perks

Noreco CEO Steps Down

Noreco CEO Tommy Sundt steps down as the company s CEO effective immediately

Putin Says Nord Stream II Not Aimed at Cutting off Anyone from Transit

Russian President Vladimir Putin says the planned Nord Stream II gas pipeline is not aimed at cutting off anyone from transit

Former Senior China Energy Exec Jailed for 20 Years for Graft

A court in central China jails a former senior Chinese energy executive for 20 years on corruption charges

Saudi Starts Oil Supplies to Poland in Setback for Russia

Saudi Arabia starts supplying crude oil to Poland becoming the latest Middle Eastern producer to enter a market traditionally dominated by Russia

Source Israel s Delek Group Eyes London Share Listing in 2016

Israel s Delek Group could list on the London Stock Exchange in 2016 as part of a strategy to become a global oil and gas firm

Petrofac Wins Shell Iraq Training Contract

Petrofac wins a multi million dollar contract to supply training services to Shell Iraq

OPITO Urges Industry Not to Compromise on Safety amid Low Oil Price

David Doig the chief executive of oil and gas skills and training body OPITO urges the industry not to cut corners on safety training and competence in the face of sub 50 oil prices

Repsol Drills Dry Well in Norwegian Sea

Wildcat well 6306 5 2 located in the Repsol Norge AS operated production license 642 has come up dry

Circle Oil KSR A Well Onshore Morocco Flows Gas

The Ksiri West A KSR A exploration well on the Sebou Permit onshore Morocco flows gas at a rate of 8 million cubic feet per day following tests

Jee Secures BP Contract Extension

Jee secures a contract extension with BP for the provision of integrity management services and in line inspection engineering support in the North Sea

Billionaire s Exit Prompts Sri Lanka to Seek New Oil Explorer

Sri Lanka will issue a fresh international tender for offshore oil and gas blocks after billionaire Anil Agarwal s Cairn India relinquished its exploration rights in the South Asian island

Indian Oil Corp to Spend 5B Over Next 5 7 Years to Expand E P Business

Indian Oil Corp plans to spend 5 billion over the next 5 to 7 years to expand its exploration and production business

Australia s Ausdrill Names Theresa Mlikota as CFO Replaces Jose Martins

Australia s integrated mining and energy services group Ausdrill names Theresa Mlikota as chief financial officer to replace Jose Martins

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