WorldOil Schlumberger, Subsea 7 announce intent to form joint venture Schlumberger and Subsea 7 S.A., have announced that they have entered into exclusive negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, which was established in 2015. Polarcus secures extension of South American campaign Reference is made to the stock exchange release issued on Dec. 16, 2015 in which Polarcus Limited announced an award for a 3D marine seismic project in South America. Peterson, Port Cameron partner to develop deepwater staging port in Louisiana Leading international energy logistics provider Peterson has signed a teaming partnership agreement with Port Cameron LLC, to develop a state-of-the-art port and supply base facility in the Gulf of Mexico. Peterson will provide logistics consultancy services to support the planning and initial development of Port Cameron, a 500-acre deepwater staging port situated in Cameron, Louisiana, serving the Gulf of Mexico. Chesapeake surges as CEO keeps focus on cuts, asset sales Chesapeake Energy Corp. shares jumped the most in almost two years, putting it on top of the SandP 500, after the shale explorer pledged to continue its push to cut spending and sell more assets in the year ahead. Exxon, BHP axe lengthy sale of 50-year-old Australian oil fields Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. LNG rollercoaster seen getting wilder until China builds storage The rollercoaster that drags liquefied natural gas prices higher as demand jumps in the northern hemisphere winter is going into overdrive. Oil heads for second weekly gain after surprise stockpile drop Oil headed for a second weekly increase as a surprise pullback in U.S. crude inventories compounded signs that a global glut is easing. Kenya pipeline boosts oil-storage capacity by 22% with tanks Kenya Pipeline Co. will spend 5.3 billion shillings ($52 million) building four new tanks that will increase its storage space by more than a fifth, Managing Director Joe Sang said. What women really want on the job? Ask oil's only female CEO Flexible working hours and maternity leave are all well and good, but what women really want is a fair chance to climb the corporate ladder. Westwood highlights exploration hits, misses of 2017 A new report from Westwood Global Energy Group, the energy market research consultancy, has highlighted 10 potentially commercial discoveries in 2017 considered likely to be more than 100 MMboe. EIA: Tight oil remains the leading source of future U.S. crude oil production EIA’s recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the early 2040s, when it will surpass 8.2 MMbpd and account for nearly 70% of total U.S. production.