http://www.worldoil.com WorldOil Saudi Arabia's $2-trillion Aramco vision runs into market reality http://www.worldoil.com/news/2017/2/23/saudi-arabias-2-trillion-aramco-vision-runs-into-market-reality Saudi Arabia has said oil giant Saudi Aramco is worth more than $2 trillion, enough to consume Apple Inc. twice, and still have room for Google parent Alphabet Inc. Canada's fading oil promise leaves U.S. majors struggling http://www.worldoil.com/news/2017/2/23/canadas-fading-oil-promise-leaves-us-majors-struggling Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers. Repsol Norge granted drilling permit for first well in licence 705 http://www.worldoil.com/news/2017/2/23/repsol-norge-granted-drilling-permit-for-first-well-in-licence-705 The Norwegian Petroleum Directorate has granted Repsol Norge AS a drilling permit for well 6705/7-1, cf. Section 8 of the Resource Management Regulations. Iran's natural gas push not deterred by Trump http://www.worldoil.com/news/2017/2/23/irans-natural-gas-push-not-deterred-by-trump Iran is hard at work gaining a foothold in the global energy market, and it’s not letting U.S. President Donald Trump’s confrontational tone stop it from trying. Europe savors taste of Brazilian oil with more blocks opening http://www.worldoil.com/news/2017/2/23/europe-savors-taste-of-brazilian-oil-with-more-blocks-opening European oil majors given a taste of Brazil may soon be ready for more. Sparrows Group secures five-year contract for Maersk Oil's UK floating assets http://www.worldoil.com/news/2017/2/23/sparrows-group-secures-five-year-contract-for-maersk-oils-uk-floating-assets Sparrows Group has secured a five-year contract to deliver hydraulic, lifting and rigging services for Maersk Oil’s UK floating assets. TGS, Schlumberger announce multi- and wide-azimuth multi-client reimaging program in GOM http://www.worldoil.com/news/2017/2/23/tgs-schlumberger-announce-multi-and-wide-azimuth-multi-client-reimaging-program-in-gom TGS-NOPEC Geophysical Company (TGS) and Schlumberger have announced a new multi- and wide-azimuth (M-WAZ) multi-client reimaging program in the highly prospective central U.S. Gulf of Mexico. Exxon bows to oil crash with historic global reserves cut http://www.worldoil.com/news/2017/2/23/exxon-bows-to-oil-crash-with-historic-global-reserves-cut Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as prolonged routs in oil and natural gas markets erased the value of a $16-billion oil-sands investment and other North American assets. VAM USA expands its field service operations in Permian http://www.worldoil.com/news/2017/2/23/vam-usa-expands-its-field-service-operations-in-permian VAM USA announces the opening of a new VAM field service office located at 2456 IH-20 in Odessa, TX bringing the number of service locations in Texas to three. Wood Group launches next phase of industry collaboration into subsea equipment reliability http://www.worldoil.com/news/2017/2/23/wood-group-launches-next-phase-of-industry-collaboration-into-subsea-equipment-reliability Wood Group announced that it is commencing the next phase of a collaborative industry effort to develop a better understanding of the reliability of subsea equipment for use in offshore Australia. Leviathan partners ratify $3.75-billion gas-development plan http://www.worldoil.com/news/2017/2/23/leviathan-partners-ratify-375-billion-gas-development-plan The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.