WorldOil Oil speculators focused on glut miss surge as bombs hit Yemen Speculators were the least bullish on crude in two years before prices surged as Saudi Arabia and its allies bombed rebels in Yemen, threatening supply disruptions in the largest oil-producing region. Loyz Energy inks two MOUs with India’s Sun Petrochemicals with respect to its concessions In a strategic move to manage its concession portfolio, Loyz Energy Limited has entered into two binding memorandum of understanding (MOUs) with Sun Petrochemicals Private Limited through its exploration and production division, Sun Oil and Natural Gas (SONG). Petrobras said to start asset sale with fields in Argentina BUENOS AIRES (Bloomberg) -- Petroleo Brasileiro SA, the state-controlled company at the center of Brazil’s biggest corruption scandal, agreed to sell oil and natural gas fields in southern Argentina to billionaire Eduardo Eurnekian’s Corporacion America, two people with knowledge of the deal said. U.S. oil rigs drop for 16th straight week, Baker Hughes says HOUSTON (Bloomberg) -- U.S. drillers targeting oil idled rigs for the 16th straight week, extending an unprecedented cutback in drilling, and dragging the total rig count down to the lowest level in more than five years. Halliburton, Baker Hughes merger approved by stockholders Halliburton Company announced Friday that its stockholders approved Halliburton’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes. Schlumberger introduces coiled tubing real-time selective perforating, activation system Schlumberger has announced the release of the ACTive OptiFIRE coiled tubing (CT) real-time selective perforating and activation system that enables perforating with CT fiber-optic real-time telemetry. Schlumberger, Chevron Energy Technology sign software agreement Schlumberger has announced the signing of a long-term software contract with Chevron Energy Technology Company (ETC), a division of Chevron U.S.A. Chevron pulls out of Australian gas project with Beach Energy Chevron Corp. withdrew from a natural gas exploration venture in central Australia, as the second-biggest U.S. energy producer curtails spending. CNOOC surprises with 6.6% gain in annual profit as peers slump CNOOC, China’s biggest offshore explorer, reported a 6.6% percent increase in annual profit even as the plunge in crude prices hit explorers across the world. Polarled pipe-laying underway, Statoil says The Solitaire pipe-laying vessel started the first stage of the Polarled installation project on Thursday, Statoil has reported. The 482-km long pipeline will transport gas from Aasta Hansteen field, in the Norwegian Sea, to Nyhamna, in western Norway. Helix, Shell in deepwater well intervention semisubmersible contract extension Helix Energy has entered into a new multi-year contract with Shell to provide well intervention services in the U.S. Gulf of Mexico utilizing Helix’s Q4000.