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Slight rise in oil prices over prospects of OPEC production cuts
10 February, 2016
Oil prices are nearing $31 a barrel due to prospects of production cuts by Organization of the Petroleum Exporting Countries (OPEC) and rival producers tackling the problem of oversupply globally....
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Nobel Upstream to acquire interest in Maclure oil and gas field in UK North Sea Wednesday, February 10, 2016 Nobel Upstream has signed an agreement to acquire a 7.59% non-operated interest in the Maclure oil and gas field in the UK North Sea, from Shell....

Technip to develop Deep Gulf Energy’s fields in Gulf of Mexico Wednesday, February 10, 2016 Technip has been selected to develop Deep Gulf Energy’s ultra-deepwater South Santa Cruz and Barataria fields in Mississippi Canyon, offshore New Orleans in the Gulf of...

ConocoPhillips fined over 2012 platform gas releases off Lincolnshire coast, UK Wednesday, February 10, 2016 ConocoPhillips has been fined £3m for three separate gas leaks on the company's platform off the Lincolnshire coast between 30 November and 1 December 2012....

Oil prices edge up due to oversupply concerns Tuesday, February 09, 2016 Oil prices have risen slightly, although gains were under scrutiny as industry analysts expect that the oversupply may not be reduced any time soon....

Shell evacuates 80 from Brent Bravo platform in North Sea amid storm fears Tuesday, February 09, 2016 Shell has evacuated nearly 80 workers from its Brent Bravo platform in North Sea due to fears of damage from Storm Imogen....

Qatar Petroleum to acquire interest in deepwater offshore leases in Morocco Tuesday, February 09, 2016 Qatar Petroleum has signed an agreement to acquire interest in three deepwater offshore leases in Morocco from Chevron Morocco Exploration....

Diamond Offshore signs service agreement with GE Oil & Gas Tuesday, February 09, 2016 US-based Diamond Offshore Drilling has signed an agreement that transfers full accountability for blowout preventer (BOP) performance to GE Oil & Gas....

Explosion at Pemex’s offshore Abkatun platform in Gulf of Mexico kills two Monday, February 08, 2016 Two workers have been killed and eight have been injured after a fire on Mexican oil company Pemex’s offshore Abkatun A Permanente processing platform in the Gulf of Mexico....

Total begins production from Laggan and Tormore in West of Shetland, UK Monday, February 08, 2016 Total has started gas production from the Laggan and Tormore fields in 600m of water in the West of Shetland area, UK....

Crude prices fall as Saudi Arabia-Venezuela talks show little progress Monday, February 08, 2016 Crude oil prices have fallen after talks between Saudi Arabia and Venezuela showed no signs of significant steps needed to stabilise the crude market that is increasingly strained by the...

EU approves Schlumberger's acquisition of Cameron for $14.3bn Monday, February 08, 2016 The European Commission has unconditionally approved oilfield services company Schlumberger’s proposed acquisition of the US-based equipment manufacturer Cameron International for $14.3bn....

Statoil awards Nkr1.6bn of contracts for North Sea fields Friday, February 05, 2016 Statoil has awarded Nkr1.6bn ($187.6m) worth of contracts for operations at Oseberg Vestflanken 2, Johan Sverdrup and Gina Krog fields in Norway. ...

Crude oil prices remain steady as Asian liquidity fades due to Lunar holiday Friday, February 05, 2016 Crude oil prices remain steady as liquidity in Asia faded ahead with many countries in the region set to celebrate Lunar New Year holiday....

BHP Billiton selects Fugro for Pyrenees project offshore Australia Friday, February 05, 2016 BHP Billiton Petroleum has selected Fugro to provide services for its Pyrenees Phase III installation project offshore in Western...

Sixteen firms to bid for Uganda oil exploration licence near Lake Edward Friday, February 05, 2016 The Ugandan Government has granted approval to 16 companies to bid for oil exploration rights for six blocks in an environmentally sensitive area around Lake Edward....

Oil prices rise due to slide in dollar and talks of oil producers’ emergency meeting Thursday, February 04, 2016 Oil prices have extended gains due to the market being lifted by a slide in dollar value and a potential meeting of oil producers to discuss production cuts....

Hyundai and Doosan to localise equipment for offshore plants Thursday, February 04, 2016 South Korea-based Hyundai Heavy Industries (HHI) has signed a memorandum of understanding (MoU) with Doosan Heavy Industries & Construction (DHIC) and Center for Creative Economy & Innovation...

GE launches project with Statoil and Total to develop subsea boosting system Thursday, February 04, 2016 UK-based GE Oil & Gas has launched a joint industry project (JIP) with Statoil, Total, and two other operators to develop a new subsea boosting system....

Subsea 7 extends contract to provide diving support vessel services in offshore UK Thursday, February 04, 2016 Subsea 7 has been awarded a contract to provide diving support vessel (DSV) services in the UK offshore area for six North Sea clients....

Matrix signs licensing agreement with AMOG for LGS system Wednesday, February 03, 2016 Australia-based Matrix Composites & Engineering has signed a licensing agreement with AMOG for commercialisation of the longitudinally grooved suppression (LGS) system....


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