North America ///

OPEC cuts seen filling wallets of North American heavy oil producers

OPEC’s supply cuts are providing a windfall for producers of heavy crude from Western Canada and the Gulf of Mexico.

Siemens and Saipem to collaborate on subsea control system technology

Saipem and Siemens have signed a Joint Development Agreement aimed at qualifying and promoting an open standard subsea control systems for Saipem’s Subsea Bus architecture based on Siemens Subsea DigiGrid.

Eni strikes pay in Mexico's Campeche Bay

Eni has successfully drilled the Amoca-2 well in the shallow waters of Campeche Bay, offshore Mexico, confirming the presence of oil in multiple reservoirs.

NPD extends life of subsea facilities at Exxon Mobil's Sigyn field

The Norwegian Petroleum Directorate has granted consent for continued use of the subsea facilities on the Sigyn field in the North Sea from the end of 2017 until the end of 2022.

Big bets placed on distressed oil industry assets

Two former associates of billionaire shipping and rig tycoon John Fredriksen are delivering out-sized returns by snapping up distressed and shunned oil-related assets. And they say it’s a bet that has plenty of room to run.

OGA awards 25 licences for UKCS in 29th offshore licensing round

The Oil and Gas Authority (OGA) is to award 25 licenses for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS).

Anadarko announces multi-billion-dollar capital program

Anadarko Petroleum Corporation recently announced its 2017 initial capital program of $4.5 to $4.7 billion along with its 2017 initial capital expectations and guidance.

Maersk Oil welcomes agreement encouraging full redevelopment of Tyra field

Maersk Oil has, on behalf of the Danish Underground Consortium (DUC), reached an agreement with the Government of Denmark, which will facilitate future oil and gas investments in the Danish North Sea and protect industry jobs in Denmark.

Pioneer Natural Resources announces sale of Texas acreage for $266 million

DALLAS -- Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, for $266 million, subject to normal closing adjustments.

Oil price forecasts falling on shale surge, OPEC uncertainty

Analysts following the $1.8 trillion-a-year oil market are tempering bullish price outlooks after the commodity lost about 10% of its value in less than two weeks amid ominous signs the worldwide supply glut may not be shrinking.

ONGC to invest $10 billion in deepwater projects off India's east coast

India’s Oil & Natural Gas Corp. is wading into deep waters, where energy giants BP Plc and Reliance Industries Ltd. found a sea of trouble.

Statoil receives consent for exploration drilling in block 7121

Statoil has received consent to drill exploration well 7121/8-1 in production licence 849. The well is to be drilled in a prospect named Blåmann.

Sound Energy completes drilling of third Tendrara well, onshore Morocco

Sound Energy, the African and European focused upstream gas company, has announced that TE-8, the third well at the Company's Tendrara licence (onshore Morocco), has now been drilled to a final target depth, at a measured depth (MD) of 3,120 m, corresponding to a vertical depth of 3,066 m, some 359 m into the Paleozoic formation.

4Subsea awarded master service agreement with Statoil

4Subsea will deliver services and research projects related to structural integrity of fixed and floating offshore installations.

China energy giant seen ready to unleash $85-billion spinoff

As China’s biggest oil and gas producer prepares to report what may be its worst-ever earnings, investors are focused on billions of dollars that could be unlocked by a spinoff of its massive pipeline network.

Oil majors plunge into industry that may hurt fossil fuel

Oil companies are starting to challenge the biggest utilities in the race to erect wind turbines at sea.

Oil rises as U.S. fuel-supply drop counters crude-stockpile gain

Oil rose as an increase in U.S. crude inventories was countered by a drop in fuel stockpiles in the world’s largest oil consumer.

Russia, Saudis move at a different pace as oil cuts scrutinized

Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s cajoling.

Algeria’s Sonatrach to invest $50 billion, boost crude output

Algeria’s state-run energy producer plans to boost crude oil output by 14% in the four years to 2019 and invest billions of dollars in exploration projects.

Gulf of Mexico lease sale yields $275 million in high bids

U.S. Secretary of the Interior Ryan Zinke today announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts, covering 913,542 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi, and Alabama.