Norwegian oil and gas investments will fall sharply in the next two years as low crude prices lead oil firms to cut back on spending, according to the Norwegian Oil and Gas Association, the industry's lobby group.
Statoil will decide next autumn on how to upgrade the Snorre oil and gas field in the North Sea, a company executive said today.
A Dutch court has ordered more cuts in gas production at Groningen, Europe's largest gas field, saying the government had given too little consideration to the stronger and more frequent earthquakes extraction had caused.
Petrobas has made a deep water oil discovery in a new well extension in the Pitu area offshore Brazil.
UK offshore oil and gas industry trade bodies Oil & Gas UK and Decom North Sea have pledge to deliver more joined-up working to deliver a more effective decommissioning agenda for the North Sea.
KCA Deutag has confirmed that 69 jobs are at risk on its EnQuest operations.
Falcon Oil and Gas has reported good progress with the first horizontal well drilled in the Beetaloo basin shale play in Australia.
88 Energy has been hit by a delay to drilling operations at its Icewine #1 well in Alaska while repairs are carried out on the Kuukpik 5 drilling rig.
Exillon Energy said average production from its two Russian assets was slightly lower in October than the previous month.
The US Department of Justice has approved the proposed merger between industry heavyweights Schlumberger and Cameron.
The UK oil and gas industry’s decommissioning sector is growing at a steady pace, with total expenditure expected to hit £16.9billion over the next decade, a new study shows. Oil and Gas UK (OGUK) raised the forecast from £14.6billion a year ago, citing an influx of 47 new projects into its 2015 Decommissioning Insight survey. A total of 79 platforms are now expected to be removed across the UK continental shelf by 2024, according to the poll, which was launched at the Offshore Decommissioning Conference in St Andrews.
Many working in the North Sea have still to recognise the full impact of $50 oil and the crisis affecting the sector, according to one senior industry figure.
Oil and gas engineers are being told to "name their price" when applying for jobs with Islamic State, according to an international terrorism expert.
The boss of Simmons & Co said he expects to see more mergers and acquisitions in the next year, as he spoke about his own company's $139million takeover by Piper Jaffray. The companies announced in a joint statement yesterday they had signed a deal for the merger after detailed talks intensified in the past four weeks. Speaking exclusively to Energy Voice, Colin Welsh, who heads up Simmons business in the eastern hemisphere said he also expected the oil price to pick up.
The Oil and Gas Authority has approved UK Oil & Gas Investments's bid acquire a 20% interest in UK onshore Weald Basin licence PEDL143.
The takeover of Simmons & Co. by Piper Jaffray Cos. marks the end of an energy industry dealmaker founded by one of the leading champions of the “peak oil” theory, Matthew R. Simmons.
Australian explorer Oilex has completed its latest workover of the Cambay-20 well in India according to plan.
Energy giant Statoil is to exit Alaska following recent exploration results in neighbouring leases.
Investment bank Piper Jaffray has agreed to acquire Simmons and Co in a deal worth $139million. The company said the move represented a “major step” in its drive towards $500million in annual investment banking revenue. Piper Jaffray will acquire 100% of Simmons in the $139million deal, which will consist of $91million in cash and $48million in restricted stock.
Transatlantic Petroleum has launched a marketing process for the sale of its oil and gas assets in Albania. The company said the move had been authorised by its board of directors and the marketing process will now be pursued.
Empire Oil and Gas said it has spudded the Red Gully North-1 well at its onshore Perth Basin. The well is located four kilometres to the north of the company’s Red Gully processing facility. Its close proximity to the facility will allow for a fast tie-back and commercialisation of the well if it is successful, Empire said.
The Indian Government plans to finalise new policy for the auction of oil and gas blocks. The country’s Oil Minister Dharmendra Pradhan said suggestions for the new fiscal and contractual agreements will be prepared for the financial year ahead.
Primeline Energy said drilling operations are now underway for the LS30-1 well offshore China.
BG Group has joined the World Bank Carbon Pricing Leadership Coalition (CPLC), to collaborate on carbon pricing systems and policies.
Jemena has been revealed as the preferred bidder to build a gas pipeline which will connect the Northern Territory in Australia to Queensland. The conglomerate is jointly owned by the State Grid Corporation of China and Singapore Power. The North East Gas Interconnector (NEGI) will link the Northern Territory’s Amadeus pipeline to Queensland’s Carpentaria pipeline.