Norway’s Statoil beat profits forecasts thanks to an increase in production and better refining margins but it further reduced its planned capex as oil prices remain low. The firm, which saw net income fall to US$882 million (7.2 billion NOK) from 9…
Red Emperor Resources NL announced that it has received formal notification from the Department of Energy of the Republic of the Philippines that approval of the assignment of the company’s 15% working interest in Block SC55 has been granted…
Tendeka, a provider of completions systems and services to the upstream oil and gas industry, has signed a two-year agreement with Eternal Asia Supply Chain Management for the exclusive supply of its FloSure autonomous inflow control devices (AICDs) in China…
CNOOC Limited has announced that the Luda 10-1 comprehensive adjustment project has commenced production. The Luda 10-1 oilfield is located in Liaodong Bay of Bohai with an average water depth of approximately 30m. In addition to fully utilizing the existing facilities of Luda 10-1…
West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
French oil major Total has started production from its Dalia Phase 1A project, boosting the firm’s deep water Block 17 offshore Angola production by some 30,000 b/d. The Dalia Phase 1A project involves drilling of seven infill wells,…
Halliburton's wireline and perforating business introduced the Reservoir Monitor Tool 3-Detector (RMT-3D) pulsed-neutron tool that helps solve for water, oil, and gas saturations within reservoirs using three independent measurements (Sigma…
Enterprise Products Partners LP executed definitive agreements to sell its offshore Gulf of Mexico pipelines and services business to Genesis Energy, LP for approximately US$1.5 billion in cash. Image from Enterprise…
ARKeX announced it has been awarded the first geological and geophysical oil and gas exploration permit by the Bureau of Ocean Management (BOEM). The ARKeX survey will acquire an airborne broadband gravity and magnetic survey over Outer…
Aker Solutions has won a maintenance, modifications and operations (MMO) contract from ExxonMobil for engineering, procurement, construction and maintenance services at the Hebron oilfield offshore Canada. The Hebron oil field is located offshore Newfoundland and Labrador…
Despite over 37 billion bbl remaining in proven reserves, oil production in Nigeria is forecast to falter due to underinvestment, with the country’s oil and gas sector in desperate need of reforms and transparency to reverse this trend, according…
Freeport-McMoRan has appointed Doss R. Bourgeois president and COO for Freeport-McMoRan Oil & Gas. Bourgeois has been a major part of the success of Freeport-McMoRan Oil & Gas and its predecessor companies. The company said that Bourgeois'…
Permasense has opened an Aberdeen office to demonstrate its commitment to upstream clients. This follows the recent launch of ET210 – Permasense’s product for the real-time monitoring of corrosion and erosion at upstream oil and gas assets…
Sanctions on Iran’s oil production look set to be lifted after the country and six world powers finally reached a deal over the country’s nuclear program. The agreement, reached after two years of discussions, following a 12-year stand…
MX Oil agreed to invest in an indirect, non-operated 5% revenue interest in the OML 113 license, offshore Nigeria, which includes the Aje field, a substantial development stage project with proven, flow tested discoveries where production is expected by January 2016…