http://www.worldoil.com WorldOil Texas Alliance responds to Obama's proposed $10/bbl tax http://www.worldoil.com/news/2016/2/05/texas-alliance-responds-to-obamas-proposed-10bbl-tax The following statement was released by George Rogers, chairman of the board of the Texas Alliance of Energy Producers, in response to President Obama's announcement yesterday, that he will propose a $10/bbl tax on the sale of crude oil produced in the U.S. Drillers pull 31 oil rigs as rig count reaches lowest level since ‘99 http://www.worldoil.com/news/2016/2/05/drillers-pull-31-oil-rigs-as-rig-count-reaches-lowest-level-since-99 Drillers in the U.S. pulled 31 oil-directed rigs from the field this week as the oil price slump continues to hit the industry. China output seen cracking under pressure of price collapse http://www.worldoil.com/news/2016/2/05/china-output-seen-cracking-under-pressure-of-price-collapse Cheap crude is a double-edged sword for one of the world’s biggest markets. Schlumberger-Cameron merger receives European clearance http://www.worldoil.com/news/2016/2/05/schlumberger-cameron-merger-receives-european-clearance HOUSTON -- The European Commission has cleared Schlumberger and Cameron's proposed merger without any conditions following a Phase 1 review. T. Boone Pickens cashes out on oil, awaits time to get back in http://www.worldoil.com/news/2016/2/05/t-boone-pickens-cashes-out-on-oil-awaits-time-to-get-back-in Oil tycoon T. Boone Pickens, who made and lost fortunes targeting some of the largest U.S. explorers over the past 40 years, has cashed out as the worst crude market downturn in decades drags on. BHP awards Fugro contract for Pyrenees phase 3 installation project http://www.worldoil.com/news/2016/2/05/bhp-awards-fugro-contract-for-pyrenees-phase-3-installation-project BHP Billiton Petroleum has awarded Fugro a contract for the Pyrenees phase 3 installation project. Siemens joins forces with oil and gas control system specialist EFC Group http://www.worldoil.com/news/2016/2/05/siemens-joins-forces-with-oil-and-gas-control-system-specialist-efc-group Siemens UK and Ireland has formed a strategic partnership with oil and gas control system specialist EFC Group, in a collaboration which promises to deliver innovative, cost-saving solutions for the industry. UK offshore union calls for emergency measures to save future North Sea production http://www.worldoil.com/news/2016/2/05/uk-offshore-union-calls-for-emergency-measures-to-save-future-north-sea-production Unite, Britain’s biggest offshore oil trade union, has warned the UK government that billion-pound losses announced this week by oil industry supermajors could, without serious interventions, bring an end to meaningful production in the North Sea within years. Murkowski hits out at Obama’s $10/bbl oil tax proposal http://www.worldoil.com/news/2016/2/05/murkowski-hits-out-at-obama-s-10bbl-oil-tax-proposal President Obama should be trying to make America’s energy sector more competitive, Sen. Lisa Murkowski warned after the President proposed a new $10/bbl tax on crude oil amid the worst oil slump since 1986. Battle of three oil benchmarks upending crude flows across globe http://www.worldoil.com/news/2016/2/05/battle-of-three-oil-benchmarks-upending-crude-flows-across-globe The oil tanker Tofteviken is set to sail from the U.K. this month carrying the first shipment of North Sea Ekofisk crude to the U.S. Gulf Coast in five years. No sign of significant oil production shut-ins at $35/bbl: Wood Mac http://www.worldoil.com/news/2016/2/05/no-sign-of-significant-oil-production-shut-ins-at-35bbl-wood-mac Wood Mackenzie's latest global oil production analysis indicates that 3.4 MMbpd of oil production is cash negative at a Brent oil price of $35. Since the dramatic drop in prices from late 2014, there have been few halts in production—with around 100,000 bpd shut-in globally to date.