North America ///

Oil will recover once producers quit spending, Harold Hamm says

Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday.

GE, Statoil launch new collaboration for sustainable energy

GE and Statoil have now announced a new collaboration to accelerate the development of more environmentally and economically sustainable energy solutions.

Cenovus cuts another $700 million from budget

Cenovus Energy is further reducing its 2015 capital spending in order to preserve cash and maintain the strength of its balance sheet.

New ozone standards duplicative and costly: API

WASHINGTON, D.C. – The EPA's new proposal to tighten regulations on ozone would be very costly, and would fall on top of current standards that are already improving air quality.

Successful toe sleeve deployment enhances production in Anadarko basin

PetroQuip Energy Services has successfully run its Big Foot toe sleeve in a recent horizontal completion for an independent operator in the Anadarko basin.

Alaska’s Sen. Murkowski slams Obama leasing plan

U.S. Sen. Lisa Murkowski, R-Alaska, has criticized the Obama administration for its continued campaign to shut down oil and natural gas activity in Alaska.

Obama lease sale strategy includes offshore Mid- and South Atlantic

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper have announced the next step in the development of the U.S.'s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022.

Stranded Kurd tanker leaves Gulf of Mexico

An oil tanker that hauled 1 MMbbl of Kurdish crude to the U.S. six months ago didn’t unload its cargo and is now making a return trip across the Atlantic Ocean with the shipment still on board.

API: December petroleum demand up sharply, crude production highest since ‘72

Total U.S. petroleum deliveries (a measure of demand) rose last month by 5.1% from December 2013 to average nearly 20.0 MMbpd.

Goldman Sachs president sees oil falling to $30/bbl in extended slump

Oil prices will probably continue to decline and could reach as low as $30/bbl, according to Gary Cohn, president of Goldman Sachs Group Inc.

Technip bags two subsea contracts in Gulf of Mexico from Stone Energy

Technip has been awarded by Stone Energy Corp. both a flexible pipe supply contract and an installation contract for Amethyst field, located on Mississippi Canyon 26, in the Gulf of Mexico.

U.S. Steel to cut pipe production amid oil slump

United States Steel Corporation has announced that it will temporarily adjust operations at Lone Star Tubular Operations in Lone Star, Texas, and Fairfield Tubular Operations in Fairfield, Ala. Fairfield Works, the primary flat-roll supplier of rounds to Fairfield Tubular Operations, will also adjust operations.

InterMoor completes Juniper mooring and foundation installation contract

InterMoor, an Acteon company, has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago.

WorleyParsonsCord wins Canadian oil sands contract

WorleyParsonsCord has been selected to provide fabrication, modularization and construction services in an agreement with a major exploration and production company in Canada to construct a significant oil sands mining project.

Baker Hughes: Rigs seeking U.S. oil fall to two-year low

U.S. drillers idled rigs seeking oil for a seventh week as production hovers near a three-decade high, contributing to a global glut that’s kept oil prices below $50/bbl for more than two weeks.

OneSubsea production system delivers success at Chevron’s Jack and St. Malo

OneSubsea, a Cameron and Schlumberger company, supplied the subsea production and processing systems for the Chevron-operated, deepwater Gulf of Mexico fields, Jack and St. Malo.

Go to California for best look at oil industry' s pain

Little is going right for California’s oil industry.

U.S. oil exporter scouting for buyers signals challenge for OPEC

Enterprise Product Partners LP is looking to sell a year’s supply of U.S. ultra-light oil to the global market, signaling another challenge for OPEC as it contends with the U.S. shale boom.

Apache announces new CFO

Apache Corp. has announced that Stephen Riney will be appointed as executive V.P. and CFO. He is scheduled to begin in February.

Oil trades below $48 as U.S. crude supplies seen worsening glut

Oil traded below $48/bbl before government data that’s forecast to show U.S. crude inventories expanded for a second week.