WorldOil Oil trades below $43 as Libya signals output rise at two fields Oil traded below $43 as Libya signaled it may raise output and as fears eased that Russia would retaliate against Turkey for downing its jet near the Syrian border. Oil pares weekly advance as global supply glut seen growing Oil pared its first weekly gain in a month on signs the global surplus will expand and as the dollar increased, reducing demand for commodities as an investment. Struggling oil service urged to act as capital squeeze looms Oil service companies struggling with a slump in demand will need to act fast to bolster their balance sheets and make deals before capital becomes scarce, Norway’s largest bank says. Canadian energy companies seen disappearing in oil’s ‘new world’ Canada is poised to lose energy companies as the industry faces the “new normal” of lower and more volatile oil prices along with tougher climate and regulatory policies, billionaire investor Murray Edwards warned Friday. Oil majors queue in Iran as $30 billion of projects in play Total, Royal Dutch Shell and Lukoil are among international companies that have selected oil and natural gas deposits to develop in Iran as the holder of the world’s fourth-largest crude reserves presents $30 billion worth of projects to investors. Lloyd’s Register bags global Master Service Agreement with Statoil Lloyd’s Register has signed a Master Service Agreement (MSA) with Statoil, effective Nov. 10 which will cover Statoil’s full project portfolio from new builds to modifications of existing assets. Oil and gas stakeholders collaborate to repel birds from offshore installations and maintain safety Offshore installations provide birds with a perfect landing spot. However, their presence is a globally recognized problem because, if left undisturbed, guano build up can reduce the safety of helidecks. Jackup players collaborate to increase reliability and reduce cost in new DNV GL JIP Lack of properly assessed and defined wear limits for jacking systems can lead to significant downtimes with financial implications for jackup operations. AGCC survey finds crisis of confidence for North Sea oil and gas industry The confidence of North Sea oil and gas contractors is at an all-time low, according to a new industry report released by Aberdeen and Grampian Chamber of Commerce (AGCC) on Thursday. Suncor may scrap $4.5-billion Canadian Oil Sands bid if offer delayed Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders. Biggest oil buyers pick themselves as winners from OPEC meeting Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They’ll emerge as winners from the group’s rift over production.