http://www.worldoil.com WorldOil Mexico's deepwater auction draws world’s biggest drillers https://www.worldoil.com/news/2016/12/5/mexicos-deepwater-auction-draws-world-s-biggest-drillers Mexico’s first competitive deepwater oil auction surpassed expectations as eight of 10 blocks were awarded to some of the world’s top oil companies. OPEC target gets harder as African members boost November output https://www.worldoil.com/news/2016/12/5/opec-target-gets-harder-as-african-members-boost-november-output OPEC’s mission to implement last week’s historic deal to curb production for the first time in eight years just got a little bit harder after three of its African members increased output in November. OPEC seeks cuts from nations pumping a fifth of world's oil https://www.worldoil.com/news/2016/12/5/opec-seeks-cuts-from-nations-pumping-a-fifth-of-worlds-oil OPEC has invited 14 other crude producers, who together pump about a fifth of the world’s oil, to talks this week in Vienna aimed at securing wider cooperation with production cuts. Exxon Mobil announces executive management changes https://www.worldoil.com/news/2016/12/5/exxon-mobil-announces-executive-management-changes Tom Walters, president, Exxon Mobil Production Co., has announced his intention to retire after more than 38 years of service. Walters joined Exxon USA in 1978 in Los Angeles and has held a variety of technical and managerial positions in production, operations, development and global services. Bibby Offshore wins North Sea contract with Shell https://www.worldoil.com/news/2016/12/5/bibby-offshore-wins-north-sea-contract-with-shell Bibby Offshore has secured a significant contract with Shell. The campaign, which is due to commence in first-quarter 2017, will see Bibby provide engineering and subsea construction activities in Gannet G field in the Central North Sea. Subsea Integration Alliance awarded deepwater integrated EPCIC contract by Murphy EandP https://www.worldoil.com/news/2016/12/5/subsea-integration-alliance-awarded-deepwater-integrated-epcic-contract-by-murphy-ep Subsea Integration Alliance has announced the industry’s first deepwater integrated subsea engineering, procurement, construction, installation and commissioning (EPCIC) multiphase boosting system award. BP commences drilling activity on new Carboniferous prospect, southern North Sea https://www.worldoil.com/news/2016/12/5/bp-commences-drilling-activity-on-new-carboniferous-prospect-southern-north-sea BP has started drilling on a potential gas play in southern North Sea block 43/26a that, if successful, could open up a new phase of development in the region. The well, being drilled with partners Perenco and Premier, will test the potential of a deep Carboniferous age horizon several hundred meters beneath the mature reservoirs produced by the Ravenspurn ST2 platform. Post-OPEC rally no miracle cure for Latin America’s crippled oil giants https://www.worldoil.com/news/2016/12/5/post-opec-rally-no-miracle-cure-for-latin-america-s-crippled-oil-giants For the three titans of Latin American oil—Pemex, PDVSA and Petrobras—last week’s OPEC-driven price rally won’t be enough to halt a slow descent from the ranks of international crude heavyweights. Dakota Access pipeline in new setback as U.S. permit denied https://www.worldoil.com/news/2016/12/5/dakota-access-pipeline-in-new-setback-as-us-permit-denied The U.S. Army Corps of Engineers denied Energy Transfer Partners a permit to build a section of the $3.8-billion Dakota Access Pipeline in North Dakota after weeks of opposition from Native Americans, environmentalists and other groups. Oil hits 16-month high as focus shifts to non-OPEC cuts https://www.worldoil.com/news/2016/12/5/oil-hits-16-month-high-as-focus-shifts-to-non-opec-cuts Oil traded at a 16-month high as OPEC prepared to meet non-members in an effort to secure additional output cuts following last week’s surprise deal to curtail supply. Shale rushes to hedge production as market turns upside down https://www.worldoil.com/news/2016/12/5/shale-rushes-to-hedge-production-as-market-turns-upside-down U.S. shale oil companies are using the post-OPEC rally to hedge their oil price risk for next year and 2018 above $50/bbl, bankers, merchants and brokers said, pushing the forward oil curve upside down.