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Latest Headlines

Pemex farming out ultradeep Gulf of Mexico Maximino-Nobilis
Petroleos Mexicanos has revealed it intends to farmout interest in the deepwater Gulf of Mexico Maximino-Nobilis area and is seeking partners...

ShaMaran drilling Chiya Khere well in Iraqi Kurdistan
(8/21/2017) ShaMaran Petroleum has advised that drilling operations on the Chiya Khere appraisal and development well in the Atrush Block in Kurdistan...

Awilco scores 18-well drilling contract on North Sea Cheviot Field
(9/21/2017) Awilco Drilling has accepted a letter of award from Alpha Petroleum Resources Limited to drill 18 development wells on the Cheviot Field...

Providence set to drill Barryroe appraisal in Ireland's North Celtic Sea
(9/21/2017) Providence Resources has advised that despite unsatisfactory farm-in negotiations, it has decided to proceed with drilling operations...

88 Energy suspends testing of Icewine-2 onshore Alaska
(9/21/2017) 88 Energy has reported the Icewine-2 exploration well onshore Alaska's North Slope, resumed flowtesting on 31 August but was suspended...

President takes on Chevron's Argentina Neuquen Basin assets
(9/21/2017) President Energy has acquired 100% of Chevron's operated interest in its oil producing assets at Puesto Flores and Estancia Vieja in Neuquen Basin...

Quebec publishes new draft hydrocarbons regulations
(9/21/2017) Questerre Energy has reported the Quebec Ministry of Energy and Natural Resources has published proposed regulations to govern oil and gas activities...
Chevron terminates Gulf of Mexico rig contract early
(9/21/2017) Transocean has revealed Chevron has cancelled its contract for the deepwater drillship Discoverer Clear Leader a year ahead of completion...

NNPC launching exploration campaign in Nigeria's Sokoto Basin
(9/21/2017) The Nigeria National Petroleum Cooperation has commenced preparation for oil and gas exploration in the Sokoto Basin in northwestern Nigeria...

Hyperdynamics seeking 2-year appraisal of Fatala-1 well results
(9/21/2017) Hyperdynamics has notified the government of Guinea that it will be seeking a two-year appraisal period under its production sharing contract...

Aker Solutions wins FEED contract for Norway's Troll Field
(9/21/2017) Aker Solutions has received a contract from Statoil for front end engineering and design of a module that will increase output at the North Sea Troll Field...

Atwood wins extension to jackup contract with Mubadala
(9/21/2017) Atwood Oceanics has reported that one of its subsidiaries has agreed to a four-month extension to the jackup drilling rig Atwood Orca's contract...

Halcon Resources sells remaining Williston basin assets for $104 million
(9/20/2017) Halcon Resources has entered into an agreement to sell its remaining non-operated assets in the Williston Basin in North Dakota to a private company...
PGS wraps up Irish Porcupine Basin 3D shoot for Petrel-Woodside JV
(9/20/2017) Petroleum Geo-Services has completed the Breanann 3D seismic acquisition program in the Irish Atlantic Porcupine Basin for Woodside...

Gazprom Neft studying Paleozoic hydrocarbons in Russia's Tomsk Oblast
(9/20/2017) Gazprom Neft has started its geological study in Paleozoic hydrocarbon deposits in the Tomsk Oblast in Russia to identify optimum approaches...

Uruguay launches Round 3 bidding for offshore tracts
(9/20/2017) Uruguay's Ministry of Industry, Energy, and Mining and the Uruguayan national oil company, ANCAP, today launched the Uruguay Round 3...

Ramba sub farms out South Sumatra stake
(9/20/2017) Ramba Energy's Indonesian subsidiary, Hexindo, has agreed to farmout a participating interest in South Sumatra's Lemang Block to Mandala Energy...

Green Dragon finalizes pact with China United Coalbed Methane
(9/20/2017) Green Dragon Gas has finalized a memorandum of understanding on five production sharing contracts and two supplementary agreements...

ONGC discovers oil in Arabian Sea offshore Mumbai, India
(9/20/2017) Oil and Natural Gas Corporation has achieved a significant oilfield discovery off India's west coast in the Arabian Sea west of Mumbai High...

Nigeria's deepwater Zabazaba Project underway
(9/20/2017) The development of Nigeria's US$13.5 billion Zabazaba deepwater oilfield has commenced with joint venture partners Nigeria Agip Exploration...

Petro Matad gearing up to drill exploration wells in Mongolia
(9/19/2017) Petro Matad has advised potential farmout partners are preparing to possibly farm into its Mongolian concessions in the Tugrug Basin...

Sonatrach hiking output from Hassi Messaoud & Rhourde el Baguel
(9/19/2017) Algeria's national energy company Sonatrach is undertaking a program to increase gas output by 353.1 million cf/d at its giant Hassi Messaoud Field...

EMGS licenses Norwegian Barents Sea 3D CSEM MC data
(9/19/2017) Electromagnetic Geoservices has entered into data licensing agreements related to 3D CSEM multi-client data in the Barents Sea in Norway...

Statoil & Jersey Oil & Gas agree to sidetrack their Verbier well
(9/19/2017) Jersey Oil & Gas has reported that the wireline log data from the initial Verbier exploration well has been evaluated by the Statoil-led joint venture...

Crewman injured in fall on Statoil's Mariner A platform
(9/19/2017) A crewman was injured last night in a fall from scaffolding while working on the Mariner A platform in the UK North Sea east of the Shetland Isles...

Baker Hughes GE forms software partnership with Yoogawa's KBC
(919/2017) Xodus Group has been awarded two environmental and social impact assessment contracts for projects in the Senegalese waters of the Atlantic...
Horizon acquiring 5 concessions in Poland from San Leon Energy
(9/19/2017) Horizon Petroleum has entered into definitive agreements with San Leon Energy to purchase 100% interest in five oil and gas concessions in Poland...

 For more headlines, select from OGI Departments at top left
From the Editor

OPEC oil cut still not reducing global oil glut

Dev George
Managing Editor

The much ballyhooed collective of Organization of Petroleum Exporting Countries (OPEC) members and ten non-member oil producing national oil companies pledging to cut their production by 1.8 million b/d has been reducing oil output since the first of the year and the six months of curtailed production have had very little effect on the global oversupply in crude...⇒⇒⇒
Latest Editorials
Oil/Gas Prices & Analysis
WTI breaks $50/bbl barrier as crude prices surge

(9/20/2017) Crude futures were recovered and then gained about 2% by the closing bell today at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE), despite a build in domestic US crude inventories...⇒⇒⇒
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