WorldOil OTC '15: Annual dinner honors distinguished achievement award winners HOUSTON – The 2015 Offshore Technology Conference (OTC) will kick off on Sunday, May 3, with the Annual OTC Dinner to honor the recipients of this year’s Distinguished Achievement Awards. U.S. oil rigs fall for 21st week as supply shows signs of easing Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an unprecedented retreat in drilling that has curbed domestic output and helped crude prices rally. Saudi Aramco names Nasser as acting president, CEO Amin H. Nasser has been named as the acting president and CEO of Saudi Aramco, following the appointment of Khalid A. Al-Falih, Nasser's predecessor, as Saudi Arabia's minister of health. Chevron’s Watson sticks to plan for raising output through slump Chevron Corp.’s plan to lift output 20% in three years is on track, CEO John Watson said, despite an oil-price slump that bled $5 million a day from the company’s U.S. oil and gas wells. Lower Canadian costs offer competitiveness with U.S. LNG, Wood Mac says The huge gas resource base in North America offers significant potential for LNG exports, but currently it is the U.S., not Canada, that is building an LNG export industry, according to Wood Mackenzie’s latest analysis. SOCAR assumes operatorships as Statoil completes Shah Deniz sale SOCAR, the State Oil Company of the Azerbaijan Republic, assumed operatorship of the Azerbaijan Gas Supply Company (AGSC) and commercial operatorship of the South Caucasus Pipeline Company (SCPC) on May 1, positions which were both previously held by Statoil. Chariot secures extension of Mauritania exploration license Chariot and its partners—Cairn Energy and the SociétéMauritanienne des Hydrocarbures et de Patrimoine Miner (SMHPM)—have secured a one-year extension on the current exploration phase of license C-19 in Mauritania. Deirdre Michie takes the helm at Oil and Gas UK Deirdre Michie has assumed the position of chief executive at Oil and Gas UK, the leading representative organization for the UK offshore oil and gas industry. Enterprise to build new crude, condensate pipeline from Midland to Houston Enterprise Products Partners L.P. has executed long-term agreements that support development of a new 416-mile, 24-in. diameter pipeline to transport crude oil and condensate from the company’s Midland, Texas, terminal to its Sealy storage facility west of Houston. Cape wins two-year BP contract Cape plc has extended its current relationship with BP with the award of a new two-year contract with an estimated value of $153 million (£100 million). Chevron in natural gas discovery offshore Australia Chevron Australia Pty Ltd. has announced further drilling success in the Greater Gorgon Area, located in the Carnarvon basin, a premier hydrocarbon basin offshore northwest Australia.