Production ///

Oman considers importing LNG as domestic gas use surges

Oman may start importing to meet surging domestic energy demand, according to two people with knowledge of the matter, a shift in trade that would make it the fourth Arab country in the oil-rich Persian Gulf to buy LNG.

Alberta regulator orders 95 Nexen pipelines shut down after leak

The Alberta Energy Regulator has ordered the immediate suspension of 15 pipeline licenses issued to Nexen, the Canadian unit of China’s Cnooc Ltd., after finding “noncompliant activities” at the company’s Long Lake oil-sands operations.

Halliburton believers stand to win big betting on Baker Hughes deal

Traders willing to bet the biggest oil-services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit.

Citigroup’s Morse says WTI under $30 needed to curb output

After tumbling to six-year lows, U.S. benchmark oil prices must fall even further before producers begin reining in production, according to Ed Morse, head of global commodity research at Citigroup Inc.

Chinese oil giants eschew global jobs purge amid belt tightening

China’s biggest oil companies say they’ll cut costs, but not employees.

For OPEC, this year’s painful oil slump will bring gains in 2016

While OPEC’s fight to snatch market share from rival oil producers might look like a costly failure as prices languish below $50/bbl, an entirely different picture could emerge next year.

EIA expects near-term decline in natural gas production in major shale regions

Natural gas production across all major shale regions in EIA's Drilling Productivity Report (DPR) is projected to decrease for the first time in September. Production from these seven shale regions reached a high in May at 45.6 Bcfd and is expected to decline to 44.9 Bcfd in September.

China oil giants seeking to join spree of global energy deals

PetroChina Co., the country biggest oil and gas producer, signaled it’s looking to join a wave of global energy deals as crude’s collapse makes it the right time to buy and sell assets.

Total sells North Sea midstream assets for $905 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for around $905 million (£585 million).

PetroChina’s first-half profit drops 63% on oil market rout

PetroChina Co., the nation’s biggest oil and gas producer, posted a 63% decline in first-half profit as oil prices slumped, lagging analyst estimates.

Tap Oil inks production sharing contract for Myanmar block

Tap Oil has formalized its entry into Myanmar following the signing of the Production Sharing Contract (PSC) for the shallow water Block M-7 in the Moattama basin.

CGG completes delivery of Diskos database

CGG has announced today that its E&P data management solution for the seismic, well and production modules in the Diskos database, Norway’s National Data Repository, is now in production and accessible to all members of the Diskos group.

Oil industry needs to find half a trillion dollars to survive

At a time when the oil price is languishing at its lowest level in six years, producers need to find half a trillion dollars to repay debt. Some might not make it.

Global energy deals now surpass dawn of oil ‘supermajors’ era

If there was any question over whether this year’s oil crash would give rise to a new era of energy megadeals, there isn’t anymore.

Anadarko awaits go-ahead for Mozambique gas project

Anadarko Petroleum Corp. has clinched almost all the supply accords it needs to bring a natural-gas project in Mozambique to fruition and is awaiting state consent to export the fuel as U.S. competition gathers pace.

Norway authorizes equipment for improved recovery on Gullfaks

The Norwegian Petroleum Directorate (NPD) has granted the licensees of Gullfaks Sør consent for start-up and operation of a new subsea wet gas compressor and umbilical on the Gullfaks field in production licence 050.

Eagle Ford production remains resilient, Wood Mac says

Despite the slowdown, production growth in the Eagle Ford remains resilient as sweet spots emerge across all active sub-plays according to Wood Mackenzie's North America Key play analysis.

Iran’s oil investments drop to almost nothing on crude slump

Iran, the world’s fifth largest crude producer, has set aside almost nothing for oil investments this year because of the drop in prices.

Schlumberger to acquire Cameron in $14.8-billion deal

Schlumberger and Cameron have announced a definitive merger agreement in which the companies will combine in a stock and cash transaction valued at approximately $14.8 billion.

Cnooc first-half profit drops 56% on plunging crude prices

Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56% decline in profit for the first half of this year.