The Norwegian Petroleum Directorate (NPD) has granted Wintershall Norge a drilling permit for well 35/12-5 S. The well will be drilled from the Borgland Dolphin drilling facility after concluding the drilling of wildcat well 6507/3-11 for E.ON E & P. The area in the permit consists of parts of blocks 35/8 and 35/11.
The Tunisian authorities have approved an application from Circle Oil to renew the exploration permit on its Mahdia block.
Irish oil and gas producer Petroceltic has invited bids from contractors to begin work on its flagship gas plant in Alergia,
A 50% drop in oil price has seen Enquest take a 20% financial hit.
Acquisitions in the energy industry will depend on at least a few more months of weakness in oil prices, according to Australia’s Woodside Petroleum Ltd.
At least one Midwestern refinery is said to be considering a delay in maintenance work after trouble at BP Plc’s Whiting plant near Chicago sent regional profit margins to a seven-year high.
Some of the worst-performing oil companies in North America are getting more for their crude than Exxon Mobil Corp. and other giants. That may not help them for long. Goodrich Petroleum Corp., the biggest loser in the Bloomberg Intelligence index of North American independent producers, sold its output for $86.49 a barrel in the second quarter, according to data compiled by Bloomberg. Halcon Resources Corp., which is down 49 percent this year, reaped $81.18. Compare that with Chevron Corp., which received an average $54.26, and Exxon Mobil, which got $56.90. The reason: lack of cash. Smaller companies with riskier credit bought insurance against an oil crash, which locked in higher prices and reassured lenders that they’d get paid back. The hedges have been critical as oil dipped more than 60 percent since June 2014 to a six-year low below $42 a barrel.
Iraq's Prime Minister Haider al-Abadi visited the supergiant West Qurna-2 oilfield on Tuesday after the state-run South Oil Company warned output could be affected unless protests by locals demanding jobs were defused. The SOC last week sent a report to the oil ministry asking it to defuse protests by villagers and residents of areas near some of the southern fields where most of Iraq's crude is produced, including West Qurna-2. Hundreds of locals recently blocked some entrance to Iraq's giant southern West Qurna-2 oilfield, operated by Russia's Lukoil, demanding jobs in a sign of the growing challenges facing foreign firms operating in the south.
The Government has been warned it has fired the starting gun on a fight for the countryside after 1,000 more square miles of England were opened up for fracking. Licences for 27 areas in northern England and the Midlands, including near Nottingham, Sheffield, Lincoln and Preston, have been awarded to companies to explore for oil and gas as the Government pushes forward with a shale industry in the UK. A further 132 areas, including parts of the West Country and the south coast as well the North East and North West, are set to be awarded subject to further environmental assessment and conditions to protect wildlife and habitats.
Egdon Resources has been offered a total of seven blocks or part blocks in the first tranche of the 14th onshore oil and gas licensing round. More than two dozen new areas in northern England and the Midlands could face fracking after new licences were awarded for oil and gas exploration. Egdon said the blocks up for grabs were in the East Midlands petroleum province and could expand the company’s acreage and opportunity base within one of its core areas of activity.
Employees in Houston working for oil major Chevron are expected to find out when potential job losses are to come as the company reduces its headcount in the region by 950 positions. The move is understood to be part of a wider plan as it looks to streamline its costs globally following the oil price decline. Chevron workers are expected to be given two months’ notice in advance that their positions have been cut.
IGas said it has been offered six new licences in the first group of licences awarded in the UK’s 14th onshore oil and gas licensing round. The company said the licences are located in the Gainsborough Trough in the East Midnlands and include exploration prospects for both shale gas and conventional oil and gas. IGas already operate 80 sites in the area with many having been in production for more than 20 years.
The national institute that measures methane emissions from shale gas extraction has said fracking's impact on the UK cannot be judged until all the facts are known.
More than two dozen new areas in northern England and the Midlands could face fracking after new licences were awarded for oil and gas exploration.
Work has begun on two test wells that could unlock Australia's biggest undeveloped onshore gas field .
Dallas-based Gulf Coast Western has formed a subsidiary to provide a full suite of well completion and operational safety services to the oil and gas industry.
The board of directors of Brazil's state-controlled oil company Petroleo Brasileiro SA approved the sale of at least 25 percent of its fuel unit BR Distribuidora, according to board minutes published in a securities filing late Monday. Reuters previously reported that Petrobras would seek to sell at least a quarter of the unit, which controls Brazil's largest service-station network. A sale is expected as early as the end of this year. Petrobras, as the company is known, wants to sell $15.1 billion of assets by the end of 2016 to help reduce its $132 billion of debt, the largest of any oil company.
Cairn Energy remains focused on the billion barrel oil prize that is within reach from its discovery in West Africa.
ProSafe has won a one-month extension from Lundin Petroleum for the use of its semi-submersible accommodation unit off Norway. The company said the Safe Boreas will be used at the Edvard Greig project in the Norwegian sector of the North Sea.
Wood Group chief executive Bob Keiller said it would spend “every dollar needed but not one dollar more” to get the job done. The company leader was briefing investors about the firm’s financial results when he made the commitment today. Wood Group recorded a 20% drop in revenue. Since the oil price slip, the firm has been forced to make 5,000 redundancies, including 1,000 in the UK, 3,000 in the US and 1,000 in the Middle East.
Total has abandoned exploration work at its shale well in Denmark despite a gas discovery. The French oil major said the thickness of the layer at the Vendsyssel-1 well in the northwest of the country had been thinner than expected.
Amec Foster Wheeler has been awarded an extension for its Project Management Consultancy (PMC) contract for the UZ750 project. The agreement is for the Upper Zakum field 84 kilometres north-west of Abu Dhabi. The Zakum Development Company (ZADCO) awarded the contract as it operated the field through a venture involving the Abu Dhabi National Oil Company, ExxonMobil and the Japan Oil Development Company.
Hydrocarbon investment company MX Oil has said it is closer to securing additional assets in Mexico.
Cairn Energy confirmed both its Catcher and Kraken projects remain within budget and are on track for first oil in 2017.
https://www.energyvoice.com/oilandgas/85265/wood-group-turnover-drops-nearly-20/