WorldOil API issues updated standards for hydraulic fracturing New editions of API’s hydraulic fracturing standards provide the latest technical direction for operators working to continuously improve well integrity, groundwater protection, and environmental safety. Gazprom Neft acquires new licenses in Russia’s Khanty-Mansiysk Autonomous Okrug Gazprom Neft has acquired additional licenses for geological prospecting, exploration and development at the Yuilsky-3, Lyaminskiy-6 and Severo-Ityakhskiy-1 Blocks, all of which are in the Khanty-Mansiysk Autonomous Okrug. Near-term financial risks for U.S. Independents exaggerated: Wood Mac The high-growth business models of the U.S. Independents are being tested by low oil prices and tougher access to capital. Genie Energy confirms significant find in Golan Heights Genie Energy says preliminary evidence from the exploratory wells drilled by its Afek subsidiary in Northern Israel confirms the existence of significant quantities of oil and gas within its exploratory license area. Petrofac terminates derrick lay vessel construction contract with ZPMC Petrofac, the international service provider to the oil and gas industry, has terminated its contract with Shanghai Zhenhua Heavy Industries Company Limited (ZPMC) for JSD 6000 deepwater multi-purpose offshore vessel. Goldman Sachs: This oil rally is not going to last Oil has been surging this week but Goldman Sachs is calling for gains to be short-lived. Cairn India said to target 18% Rajasthan oil output boost Cairn India Ltd., the nation’s biggest onshore oil driller, is targeting an 18% increase in output from its wells in the northern state of Rajasthan in January as it revives older fields in its largest producing block, according to company and government officials. Saipem bags contracts from Aramco, Eni worth €600 million Saipem has been awarded new contracts by Saudi Aramco and Eni, which are cumulatively valued at more than €600 million—approximately $681 million. 85 gas projects dying on the vine as LNG’s promise falls short Five years ago, energy companies hungry for the next big thing started planning as many as 90 terminals to send natural gas around the globe. Lundin sells Indonesian business for $22 million Lundin Petroleum is to sell its oil and gas assets in Indonesia to PT Medco Energi Internasional TBK. WTI surges above $50/bbl for first time since July Oil surged above $50/bbl in New York for the first time since July on speculation that demand is picking up.