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Latest Headlines

Rosneft granted PSAs for 5 blocks in Kurdistan Region of Iraq
(10/18/2017) Rosneft has reported that the Kurdistan Regional Government of northern Iraq has awarded it a production sharing agreement for five blocks...

Jogmec & Petrovietnam renew cooperation accord another 5 years
(10/18/2017) Japan Oil, Gas and Metals National Corporation and Vietnam Oil & Gas Group have signed a renewal of their Memorandum of Understanding...

ExxonMobil adds crude terminal to serve Texas Delaware Basin
(10/18/2017) ExxonMobil has acquired a crude oil terminal in Wink, Texas from Genesis Energy to serve the rapidly growing Delaware Basin sector of Permian Basin...
Two injured in Carrizo oilfield explosion in La Salle County, Texas
(10/18/2017) An oil storage tank on Carrizo Oil & Gas' oilfield near Dilley, Texas in La Salle County exploded this morning causing injury to two field workers...
Statoil given consent to drill with Songa Endurance & Deepsea Atlantic
(10/18/2017) The Norwegian Petroleum Safety Authority has given its consent to Statoil for the use of two drilling rigs to undertake drilling operations in the North Sea...

Ophir awarded PSC for Equatorial Guinea Block EG-24
(10/18/2018) Equatorial Guinea's Ministry of Mines and Hydrocarbons, Ophir Energy and national oil company GEPetrol have signed a new PSC...

BHP Billiton contracts Transocean drillship Deepwater Invictus
(10/18/2017) Transocean has been awarded a two-year contract with three one-year options for the employment of its ultra-deepwater drillship by BHP Billiton...

RockRose acquires Idemitsu interests in 10 UK North Sea fields
(10/18/2017) RockRose Energy has concluded an agreement to acquire Idemitsu Petroleum UK from Idemitsu Kosan and with it stakes in ten fields...

Archer contracted for P&A project offshore Sarawak
(10/18/2017) Reservoir Link has been awarded a contract to deliver annulus wash and cementing assurance equipment and services with Archer to ROC Oil...

EMGS set to start MC GS survey west of Newfoundland
(10/17/2017) Electromagnetic Geoservices and its wholly owned subsidiary Electromagnetic Geoservices Canada have initiated preparations...
Brazil's Libra deepwater subsalt project set for 3D seismic shoot
(10/17/2017) FairfieldNodal's project to acquire and process high-resolution 3D marine seismic for the Libra consortium offshore Brazil has gotten underway...

Glencore & QIA selling stake in Rosneft to CEFC China
(10/17/2017) Glencore has finalized negotiations with its partner the Qatar Investment Authority to jointly sell a 14.16% stake in Rosneft to CEFC China Energy...
Wood wins FEED contract for US Gulf West Delta LNG platform
(10/17/2017) The Honghua Group has awarded a US$12 million front-end engineering design contract to Wood for its liquefied natural gas platform development...

African Petroleum negotiating Senegal & Sierra Leone next phases
(10/17/2017) African Petroleum has lodged an application with Senegalese authorities to enter the second renewal phase of the Senegal Offshore Sud Profond...

Tendera follows Kuwait contract with Abu Dhabi & Oman contracts
(10/17/2017) Following a recent award by the Kuwait Oil Company to deliver a lower completions project, Tendera has been awarded two further contracts...
SilverBow Eagle Ford shale gas well at 11 million cfe/d
(10/17/2017) SilverBow Resources has reported its Oro Grande NMC 1-H well in the Eagle Ford Shale in South Texas had produced 940 million cfe in 90 days...

Saffron awarded Italy's Sant' Alberto gasfield concession
(10/17/2017) Saffron Energy has been awarded a production concession for its Sant' Alberto gasfield in northern Italy by Italy's Ministry of Economic Development...

Lion prepping to drill North Sumatra Amanah Timur appraisal well
(10/16/2017) Lion Energy has reported that the South Block A joint venture has formally approved drilling the Amanah Timur-2 well to appraise...

FairfieldNodal awarded Z700 project offshore Trinidad
(10/16/2017) FairfieldNodal has reported receiving a contract to carry out a large Z700 ocean bottom node seismic acquisition project offshore Trinidad...

Stag Field off Western Australia attains record output
(10/16/2017) Jadestone Energy's Stag oilfield offshore Western Australia in Block WA-15-L has reached a milestone average production rate exceeding 3,600 b/d...

Spectrum shooting MC 2D survey in Brazil's Ceara Basin
(10/16/2017) Spectrum has commenced a 6,000-km multi-client 2D seismic survey covering the Ceara Basin within the equatorial margins of northern Brazil...

BiSN completes inaugural North Sea P&A project for Aker BP
(10/16/2017) BiSN has successfully completed its first metal-to-metal downhole sealing project in the North Sea with the plugging and abandonment of a Valhall well...

Explosion & fire strike Clovelly platform in Louisiana's Lake Pontchartrain
(10/16/2017) Six workers have been injured and another is missing following an explosion and fire on a Clovelly Oil production platform in Louisiana...

Rosneft pays Eni $1.1 billion for stake in Zohr Field off Egypt
(10/16/2017) Rosneft has closed its transaction with Ente Nazionale Idrocarburi to acquire a 30% stake in the concessions agreement for the Zohr Field...

Emerson acquiring Paradigm for $510 million
(10/16/2017) Emerson is acquiring the provider of software solutions for the oil and gas industry, Paradigm, for a purchase price of US$510 million...
Kurd forces block Iraqi access to main Kirkuk oilfields & airbase
(10/15/2017) The standoff between the Iraqi central government and the Kurdistan Regional Government has today led to blocking of Iraqi oilfield access...

Lebanon receives bids for offshore Blocks 4 and 9
(10/15/2017) The Lebanese Petroleum Administration has reported that its first offshore licensing round has received one bid each for offshore Blocks 4 and 9...

Maersk chalks up 2 North Sea drilling contract extensions
(10/15/2017) Maersk Drilling has reported receiving two contract extensions in the UK and Netherlands sectors of the North Sea for recently its reactivated jackups..

Ocean Rig Poseidon signed & Leiv Eiriksson wins extension
(10/15/2017) Ocean Rig has reported a new drilling contract awarded to its drillship Ocean Rig Poseidon by Statoil and an existing contract has been extended..

Weatherford wins Repsol P&A contract offshore Norway
(10/15/2017) Weatherford International has been awarded a contract for plugging and abandonment services in the Norwegian sector of the North Sea...

Gulfsands wins extension to Putumayo-14 license in Colombia
(10/15/2017) Gulfsands Petroleum has received confirmation from Colombia's Agencia Nacional de Hidrocarburos that the Putumayo-14 License will be reset...

Patterson-UTI acquires major US directional driller
(10/15/2017) Patterson-UTI Energy has reported concluding its acquisition of Multi-Shot - MS Energy Services for a total transaction value of US$262 million...

Thousands of bbl of oil spills from LLOG US Gulf subsea pipeline
(10/15/2017) The US Coast Guard has reported a significant oil spill has occurred off the coast of Louisiana from an LLOG Exploration Offshore operated pipeline...

Chevron donates $400,000 to Mexico earthquake relief efforts
(10/15/2017) Chevron has contributed more than US$400,000 to assist with recovery efforts from the recent devastating earthquakes in southern Mexico...
Key acquisition of AWE license onshore Western Australia completed
(10/15/2017) Key Petroleum has reported final execution of the agreement with AWE for the acquisition of its Production License L7 onshore in the Perth Basin...

 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
Prices inch up on Iraq-Kurdistan fighting over northern fields

(10/17/2017) Traders at the New York Mercantile Exchange (Nymex) and London's Intercontinental Exchange (ICE) spent the day taking our monitored benchmarks slightly higher and then slightly lower until by the closing bell crude futures settled only about 1% up on yesterday's closures....⇒⇒⇒
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