WorldOil Subsea 7 wins $150-million contract for Maersk’s Culzean Subsea 7 has won a subsea, umbilical, riser and flowline (SURF) contract from Maersk Oil, with a value in excess of $150 million, for the Culzean development. Faroe ups stake in Blane, Enoch with Roc Oil deal Faroe Petroleum has announced the conditional acquisition of Roc Oil (GB Holdings) Limited, which holds a 12.5006% interest in the Blane Unit in the UK North Sea and a 12.00% interest in the Enoch Unit in the UK North Sea, from Roc Oil (Europe) Limited, a subsidiary of Roc Oil Company Limited. WandT Offshore sells Permian basin’s Yellow Rose field WandT Offshore has entered into a definitive agreement with Ajax Resources, LLC for the sale of all of WandT's interest in its Yellow Rose field in the Permian basin. Cenovus completes transaction to purchase rail terminal in Alberta Cenovus Energy has closed its previously announced purchase of Canexus Corporation's North American Terminal Operations (NATO), a crude-by-rail trans-loading facility in central Alberta. Polarcus wins broadband 3D project offshore Brazil Polarcus has signed a contract with an undisclosed client for a non-exclusive broadband 3D marine seismic project offshore Brazil. World’s top oil trader Vitol sees price at $40-$60 to 2016 Oil prices will remain at $40/bbl to $60/bbl into 2016 as rising crude supplies overwhelm demand, according to the world’s largest independent oil trader. Administration truncates review of potentially most costly regulation ever: API “API is concerned that the Obama administration is rushing potentially the most expensive regulation in history through a shortened review process,” said Howard Feldman, API Senior Director of Regulatory and Scientific Affairs, after the rule went to the White House for final review on Friday. University of Wyoming, FEI in $24-million collaboration to support UW’s digital rock research The University of Wyoming (UW) has announced that FEI, the scientific and technical instrument manufacturer, will provide state-of-the-art imaging equipment, software and support for cutting-edge digital rock research that will have far-reaching impacts for Wyoming’s oil and gas industry and its economy. Oil caps biggest three-day gain since 1990 as OPEC ready to talk Oil capped the biggest three-day gain in 25 years after OPEC said it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates. Russia offers China new gas route as deal on west link drags Gazprom PJSC, the world’s biggest natural gas supplier, is preparing a deal with China to build a pipeline near the Pacific coast as talks about a West Siberian link drag. Israel gas explorer shares sink as Eni’s Egypt find dims outlook Shares of the natural-gas exploring units of Delek Group Ltd. plunged the most in 14 years in high volume on concern the discovery of the Mediterranean’s largest field off the coast of Egypt will curtail their exports.