Oil And Gas Industry News

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

Brent Climbs Above 108 bbl on U S Russian Tensions Supply Fears

Brent oil prices reverses early losses to climb more than 1 a barrel as fighting in Ukraine and deteriorating relations between Russia and the United States ignited new fears of supply disruptions in the market

Texas Petro Index Seventh Record High as Production Closes in On All Time

Karr Ingham s Texas Petro Index shows energy in Texas is continuing to strengthen

Sources Eni to Revive Saipem Sale Plans

The new management of Italy s Eni plans to press on with the sale of a controlling stake in oil services subsidiary Saipem so it can focus on the more lucrative business of finding oil and gas sources said

Brazil Regulator Approves Petrobras Plan to Upgrade Marlim Field

Brazil s oil regulator ANP approves a plan by Petrobras to renew its development plan for the Marlim offshore oil field one of the country s largest

U S State Department Names Hochstein Acting Energy Envoy

The U S State Department names Amos Hochstein as Washington s top energy diplomat taking over as acting head of the Bureau of Energy Resources

Mexico s Pemex 2nd Qtr Losses Widen to 52 2B Pesos

State owned oil company Pemex reported a wider second quarter loss hurt by higher sales costs declining asset values and higher taxes the company said on Friday

WWF Arctic Oil Well Blowout Could Spread More Than 1 000 Km

Oil from a spill or oil well blowout in the Arctic waters of Canada s Beaufort Sea could easily become trapped in sea ice and potentially spread to the west coast of Alaska a World Wildlife Fund study reports

Rosneft Lines Up Anti Sanctions Measures Net Income Up

Russia s biggest oil producer Rosneft says it has been seeking ways to cope with the negative impact of international sanctions as it reported higher net income Helped by a stronger rouble

Thai Military Delays Finalizing Energy Reform

Thailand s military government will delay finalizing details of energy reform which could compound uncertainty about the country s oil and gas sector

Iraqi Kurdish Oil Nears US Port Despite Concern in Washington

Oil from Iraqi Kurdistan is just two days away from arriving at a US port despite Washington s concern about independent oil sales from the region

Exillon Production Slows Further in June

Exillon Energy sees slight improvement in its Timan Pechora production in June although fall in Western Siberia output means total average daily output fell

Statoil Cut 1 000 Jobs during 2Q

Statoil reduces its headcount by around 1 000 employees and may cut up to 400 more positions

Reach Energy Plans to Acquire an Upstream Asset Within 2 Years of IPO

Reach Energy intends to acquire its first upstream oil and gas asset within two years of its initial public offering on Bursa Malaysia

Thai PTTEP 2Q Net Profit Up 55 Beats Forecast

PTTEP reports a 55 percent rise in second quarter net profit due to higher petroleum sales and firmer global oil prices

Keppel O M s Second Quarter Net Profit Rises 14 to 216M

Keppel Offshore Marine s second quarter net profit increases 14 percent from last year to 216 million as revenue rises 13 percent to 1 64 billion

TAG Oil Spuds Waitangi 1 Well in PEP 38348 in NZ s East Coast Basin

TAG Oil spuds Waitangi 1 well in petroleum exploration permit 38348 in New Zealand s East Coast Basin

Husky Updates on Field Developments in China Indonesia

Husky Energy updates on field developments at its offshore projects in China and Indonesia

Farstad Receives 282M Charter Contracts to Supply AHTS PSVs

Farstad Shipping receives 282 million in charter contracts to supply anchor handling tug supply and platform supply vessels

Lime Petroleum Relinquishes 3 Norwegian Licenses in the North Sea

Lime Petroleum relinquishes three Norwegian licenses located offshore in the North Sea

Inside Xi Jinping s Purge of China s Oil Mandarins

Oil executive Jiang Jiemin rose to power in Communist China in time honored fashion by hitching his star to a mighty mentor

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