WorldOil Oil will recover once producers quit spending, Harold Hamm says Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday. GE, Statoil launch new collaboration for sustainable energy GE and Statoil have now announced a new collaboration to accelerate the development of more environmentally and economically sustainable energy solutions. Scotland issues fracing moratorium pending consultation Scotland will impose a moratorium on unconventional oil and gas drilling pending the results of a public consultation, in the latest blow for fracing in the UK. Murkowski: Alaska will not be treated as a territory BG Group, KBR sign global alliance amid oil slump BG Group has signed a global alliance with KBR enhancing the company’s capacity to deliver commercially attractive oil and gas projects around the world. Cenovus cuts another $700 million from budget Cenovus Energy is further reducing its 2015 capital spending in order to preserve cash and maintain the strength of its balance sheet. New ozone standards duplicative and costly: API WASHINGTON, D.C. – The EPA's new proposal to tighten regulations on ozone would be very costly, and would fall on top of current standards that are already improving air quality. Chevron takes control of BP deepwater Gulf of Mexico discoveries Chevron expands its deepwater portfolio by assuming control of projects from BP as the U.K. company freezes wages and cuts spending in response to collapsing crude prices. Ramboll wins Maersk contract for additional Culzean jacket design projects Maersk Oil UK has awarded Ramboll Oil and Gas the detailed design for the two jackets for a central processing facility platform and a separate utilities and living quarter platform for Culzean field offshore Aberdeen. Gazprom Neft to bring power to Russia’s most northernmost onshore field The transportation of six 13MW gas-turbine power units to Russia’s Vostochno-Messoyakhskoye field, for the construction of a gas-turbine thermal power plant has begun. Iraq oil surge to fan OPEC rivalry that triggered slump The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate.