Oil major Shell is reportedly looking to sell its stake In the Gannet field in the North Sea. According to reports in The Times, the oil production platforms and pipelines 110 miles from Aberdeen are being marketed to buyers. As well as the Gannet field, Shell could also sell its 26% stake in the Triton floating production, storage and offloading vessel (FPSO) operated by Dana Petroleum.
Dolphin Geophysical has been selected as the first shortlisted contractor for a major project offshore India. The company said it plans to accept contract proposal according to submitted bids.
Hibiscus Petroleum said the West Telesto drilling rig has been demobilised from its previous assignment and will be handed to its subsidiary next week. The spud date for the Carnarvon Hibiscus Ltd (CHPL) operated Sea Lion-1 exploration well is expected by October 25th with the overall programme expected to take up to 30 days.
Norwegian oil companies are turning on the spigots to counter plunging crude prices.
The Caterers Offshore Trade Association (COTA) has called on employees to turn out and vote in ongoing industrial ballots before they close later this month. Both Unite and RMT unions opened their ballots asking members if they would be prepared to take strike action or action short of a strike after COTA companies decided to freeze pay. Earlier this year COTA had said it wouldn't pay the second year of a two-year deal which would see a 1.3% rise in wages.
Scotland must seize the opportunity afforded by fracking or lose out to England, the chief executive of chemicals company Ineos has said.
The chief executives of 10 of the world’s largest oil and gas companies have declared their support for an effective climate change agreement to be reached. The United Nations (UN) Conference of Parties to the UN Frameworks on Climate Change (COP21) will take place in Paris in December. The bosses of the companies which make up the Oil and Gas Climate Initiative (OGCI) confirmed they recognised the general ambition to limit global average temperature rise to two degrees and that the existing trend of the world’s net global greenhouse gas (GHG) is not consistent with this ambition.
Santos said the first cargo from the Gladstone liquefied natural gas project left today as Australia looks to overtake Qatar as the world’s top LNG exporter. The launch was good news for Santos which has been racing to sell assets in a bid to reduce its $8.8billion of debt.
UK Oil & Gas (UKOG) said planning permission for the Markwells Wood-1 site in West Sussex has been extended until next year. The company said the local planning authority approved the move for the well site in the South Downs National Park. UKOG owns a 100% interest in the Markwells Wood licence and is currently working on a field development plan which could then be submitted to the Oil and Gas Authority (OGA) for approval to move the licence from its current exploration phase into an 18-year production period.
Falkland Oil and Gas (FOGL) said it has encountered the possible presence of hydrocarbon at its Humpback exploration well. The company said the well has been drilled to 4,718metres and intermediate wireline logs have indicated hydrocarbon bearing sandstones within the main target horizon. The well is now being depended to evaluate additional targets.
Three months ago, the head of Schlumberger Ltd. thought the industry had seen the worst of the US oil rout. Now he’s not so sure. Chief Executive Officer Paal Kibsgaard said in July that a recovery might begin by the end of the year. That’s been delayed, Kibsgaard’s said in a statement Thursday as Schlumberger reported a 49 percent drop in third-quarter profit. The market is "increasingly challenging with activity expected to be reduced further," Kibsgaard said.
The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices, Vice President Manuel Vicente said.
Indonesia has been told by OPEC that it plans to accept the country's request to reactivate its membership at its next meeting in December.
Oilfield services firm Archer has won a three-year platform drilling services contract for Talisman Sinopec's North Sea assets.
US and Alaska state officials will no longer seek an additional $92 million from Exxon Mobil to pay for environmental cleanup and restoration stemming from the massive Exxon Valdez oil spill 26 years ago.
The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost.
The Scottish Government has been challenged to tackle the "worst industrial crisis" in the country's history - and help the offshore industry plan for a brighter future.
A company formed to commercialise technology that promised to make remote gas finds more economic to exploit has gone into administration.
Statoil has awarded the NOK600million ($74.5million) contract for construction of the converter station at Haugsneset to the field to Norwegian firm Aibel.
The safe money for oil traders is betting that Venezuela's plan to resurrect OPEC's old price band mechanism, attempting to set a $70 floor for the battered market, will be doomed from the start.
As China closes in on the United States as the world's biggest crude oil importer, demand from private refiners and stockpiling of cheap oil is expected to keep imports at record levels after a wobble in the third quarter.
Gulf Keystone, which operates the world class Shaikan field in the Kurdistan Region of Iraq, has received a payment of $15 million (US$12 million net to Gulf Keystone) for crude oil exports.
Construction or preliminary work has begun on three new pipelines designed to flow new supplies of natural gas from Azerbaijan to consumers in Turkey, Bulgaria, Greece, and Italy reports the US Energy Information Administration.
Russian Energy Minister Alexander Novak said today that Saudi Arabia's entry into East European oil markets, traditionally dominated by Russia, was the "toughest competition".
Venezuelan oil minister Eulogio del Pino has revealed that eight non-OPEC countries have been invited to an oil meeting to take place next week.