WorldOil Total completes $1 billion of onshore divestments in Nigerian blocks Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern EandP, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total’s share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion. Statoil makes its eighth discovery in block 2, offshore Tanzania Statoil announced that the Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. 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.