WorldOil Shell divests Gulf of Mexico assets for $425 million Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100% of its interest in Gulf of Mexico Green Canyon blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corp., through its affiliate EnVen Energy Ventures, LLC. Operators in Colorado dodge $10 billion-a-year threat to output Oil and natural gas explorers from Anadarko Petroleum Corp. to Synergy Resources Corp. have escaped a vote in Colorado that would’ve limited drilling and threatened to halt about $10 billion worth of oil and natural gas production a year. Oil executives see volatility as market starts to rebalance Crude markets will continue to be plagued by volatility in the short and medium term after suffering the biggest downturn in a generation over the past two years, according to oil-company executives gathering for one of the industry’s biggest conferences in Norway. Development costs on the Norwegian shelf cut by nearly half The price tag for developing a field on the Norwegian shelf has declined by an average of more than 40% since the autumn of 2014, according to the Norwegian Petroleum Directorate's (NPD) analysis of eight planned developments that are approaching start-up. Oil resumes decline amid doubts of market-stabilization deal Oil declined amid doubts that producers will agree on a deal to stabilize the market when global suppliers meet next month for informal talks. Rosneft CEO said to pitch $16-billion double deal to sway Putin Rosneft PJSC chief Igor Sechin has come up with a proposal to expand his energy empire while helping critics in the Russian government meet their goal of reducing the widest budget deficit in six years. Keppel to deliver Bumi Armada’s first North Sea FPSO Keppel Shipyard, a wholly owned subsidiary of Keppel Offshore and Marine (Keppel OandM), is on track to deliver a floating production storage and offloading (FPSO) vessel to Armada Kraken Pte Ltd, a wholly owned subsidiary of Bumi Armada Berhad. Oil pessimists exit as OPEC cap talk spurs bets glut easing Oil investors are turning the car around. For a second week, money managers slashed bets on falling prices by a record and boosted wagers on a rally. Industry must do business differently to meet sustainability targets, DNV GL says Pressure is mounting on the oil and gas industry to reduce its environmental footprint at the same time as the industry is under significant cost pressure. Since business as usual is not an option, DNV GL has launched two papers to advise the industry on how and where to make impactful changes within financial constraints. CGG launches solution for imaging shallow reservoirs GustoMSC introduces new harsh environment semisubmersible series GustoMSC has launched a new harsh environment semisubmersible series—the OCEAN-HE.