Oil And Gas Industry News

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

ACCC Clears Woodside s Acquisition of Apache s Stakes in LNG Projects

Woodside edges closer to completing its 2 75 billion acquisition of Apache s interests in Australia s Wheatstone and Balvanes projects as well as the Kitimat project in Canada

WHL Energy Upbeat About Junon Resources Potential offshore Seychelles

WHL Energy says seismic data indicates that Junon Central and Junon South East in Seychelles may hold prospective resources of around 200 million barrels

Norwest to Conduct Seismic Survey at Arrowsmith in Perth Basin

Norwest Energy gains approval to proceed with seismic survey at Arrowsmith in exploration permit EP 413 in the Perth Basin Western Australia

Linc Energy Resumes Drilling at Eba 1 Well in PEL 121 in South Australia

Linc Energy resumes drilling at Eba 1 well in PEL 121 in the Arckaringa Basin in South Australia after delays caused by a leaking wash pipe

NOC Libya Declares Force Majeure on 11 Oilfields Due to Insecurity

Libya has declared force majeure on 11 of its oilfields due to the deteriorating security situation after several oil installations and ports were targeted by attacks the state run National Oil Corporation says in a statement on its website

Cairn India Cuts FY 2016 Capex to 500M from 1 2B Due to Low Oil Price

Cairn India reduces capital expenditure for fiscal year 2016 from 1 2 billion to 500 million in the current low oil price environment

Greatship s Unit Takes Delivery of Jackup Greatship Chaaru from Lamprell

Greatship Global Energy takes delivery of the jackup Greatdrill Chaaru from Lamprell in the United Arab Emirates

US Oil Rises Brent Pares Losses On Iran News

US oil rises and benchmark Brent pares losses as OPEC member Iran stresses that it opposed a timeline for a freeze on nuclear activities

Motive Offshore Restructures to Expand Global Reach Create Jobs

Motive Offshore restructures to enhance its local and global operations as well as continue its rapid growth which includes creation of new jobs

Kemp Lessons For US Oil Production From The Gas Industry

The gas industry s experience is especially relevant now given the plunge in oil prices and new drilling since June 2014

US Senate Fails To Override Obama s Veto Of Keystone XL Approval

The US Senate fails to override President Obama s veto of legislation approving the Keystone XL oil pipeline

Saudi Arabia Expects Oil Price To Stabilize

Saudi Arabia s oil minister says he expects oil prices which hit a near 6 year low in January to stabilize signaling cautious optimism about the market outlook

Hays Changing LNG Phase Helps Position Australia for Oil Plunge

Falling oil price has not only forced petroleum companies to shift their outlook but also HR firms sourcing personnel for projects and operations the Australian arm of Hays reveals

Aqualis Offshore Wins Brazilian Contract

Aqualis Offshore wins a deal with Technip and Techint to carry out marine warranty surveys for the integration of the P 76 FPSO vessel in southern Brazil

Oil Producer Afren Defaults on 2016 Bonds

Africa focused oil producer Afren defaults on its 2016 bonds after declining to make a 15 million interest payment

Subsea 7 Axes Dividend Sees Lower 2015 Earnings

Oilfield services firm Subsea 7 swings to a surprise fourth quarter operating loss due to a decline in sales and profit margins in difficult market conditions

Cairn India Slashes 2015 16 Capex on Falling Crude

Cairn India cuts capital spending by about 60 percent as falling oil prices hurt profitability and make project expansions unviable

Lukoil May Quit Most West African Projects As No Large Discoveries Made

Russia s Lukoil may leave almost all of its projects in West Africa as it has made no large discoveries there according to Interfax

Exxon Sees Oil Gas Output Rising Slowly Through 2017

ExxonMobil says its oil and gas output would rise 2 this year and 3 in each of the following years as it spends about 34 billion in 2015 down from a peak

Competitions Launched to Help Fund Energy Innovators

Aberdeen s Technology Showcase sees two competitions launched that offer up to 17 million to energy innovators

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