Oil And Gas Industry News

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

Sembawang Shipyard Bags Teekay s 41M Gina Krog FSO Conversion Project

Sembcorp Marine s unit Sembawang Shipyard bags a 41 4 million floating storage and offloading conversion contract from Teekay for the Gina Krog field in the North Sea

IHS CERAWeek Bucking Downturn Pioneer Sees Adding Rigs Soon

Pioneer Natural Resources will start adding drilling rigs in June so long as market conditions are favorable the company s CEO says

Contract Driller Nabors Posts 10 5 Fall In Revenue

Nabors quarterly revenue falls 10 5 hurt by slower drilling activity in North America and the company says it cut its workforce by more than 18 since the end of 2014

Transocean Names New CEO

Transocean announces that Jeremy D Thigpen has been named President and Chief Executive Officer effective April 22

Statoil CEO Cost Carbon Emissions Formidable Challenges for Industry

The industry faces challenges in improving its competitiveness while managing the transition to a lower carbon future Statoil President and CEO Eldar Saetre tells IHS CERAWeek attendees

Oil Down As Saudis End Yemen Bombing Traders Eye Crude Build

Oil prices fall after Saudi Arabia announces the end of its military campaign in Yemen

Chevron s Kazakh Joint Venture Slows Expansion Plans Due To Weak Oil Price

Kazakhstan s leading oil producer slows its expansion plans further and cuts planned spending in response to lower oil prices a senior executive at Chevron s joint venture TCO says

Norway Considers Support For Statoil Project

Norway will ask European competition authorities whether it can provide state support to Statoil to bring oil and gas to the shore from its Johan Castberg field

Tillerson Feds Industry Must Work Together in New World of Energy

ExxonMobil chief says regulators overburden the industry but progress can be made in a way that meets world energy needs

Baker Hughes Expects Falling Rig Count To Weigh On 2Q

Baker Hughes says it expects unfavorable market conditions to persist in the second quarter as drillers turn off more rigs intensifying a glut in oilfield services

European Majors Team Up to Explore Arctic

Statoil and Eni form BaSEC Barents Sea Exploration Collaboration to solve operational issues connected to exploring the Barents Sea for hydrocarbons

Kea Faces Precarious Future as it Seeks Shannon Partner

Kea Petroleum says its future is precarious as it seeks funds to drill the Shannon 1 well

BG to Alter Financial Reporting to Reflect Brazil Australia Growth

Gas producer BG Group plans to adjust its financial reporting to better reflect the growing importance of its Brazilian and Australian operations

Norway Launches Expanded Oil Licensing Round in Mature Areas

Norway launches its 2015 oil and gas licensing round in mature areas expanding it to include blocks near recent discoveries

Woodside Turns Down Rabat Deep Operatorship

Woodside turns down the opportunity to increase its stake in the Rabat Deep license offshore Morocco leaving Chariot Oil Gas seeking a new partner to fund drilling

Official India to Auction 69 Marginal Fields Owned by ONGC Oil India

India will soon auction 69 marginal oil and gas fields owned by state explorers Oil and Natural Gas Corp and Oil India Ltd the country s oil secretary says

Maersk Drilling Cheap Oil to Trigger Drilling Sector Take Over Wave

The oil drilling industry faces a wave of take overs in the next two years as crude prices are expected to remain under 85 per barrel Claus Hemmingsen chief executive of Danish Maersk Drilling says

Bass Strait Oil Provides Update on Gippsland Basin Operations off Australia

Bass Strait Company provides an update on its Gippsland Basin operations offshore Victoria Australia

BP Readies Defenses as Oil Industry Responds to Shell s BG Raid

As the oil industry takes stock of Shell s 70 billion move for BG one company has more to chew on than most BP is now thinking what was once unthinkable that it could be next in the cross hairs

Cooper Energy Prepares for Production Test at Bunian 3 ST2 Well in Sumatra

Cooper Energy prepares for production testing at Bunian 3 ST2 development well in Sukananti KSO in South Sumatra Indonesia

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