WorldOil Pentair receives UL/FM approval for advanced metallurgies in fire protection equipment Pentair Engineered Solutions has obtained UL listing and FM Approval on its line of fire pumps with advanced metallurgies. Wood Mackenzie: Where are all the LNG project postponements? In a new global gas analysis, Wood Mackenzie remarks that despite the outlook for global LNG demand looking increasingly subdued, the number of LNG projects proposed to take a Final Investment Decision (FID) in 2015 and 2016 has not reduced significantly, in contrast to the 45 upstream oil and gas projects which have been postponed FID so far in 2015. Hedge fund manager Hall says global market ‘not awash in oil’ Andy Hall, one of the best-known oil traders who’s bullish on prices, said the decline in the oil market isn’t a repeat of 1998 or 2008. Deep leach cutters give directional drillers the edge Directional drillers have a new edge for developing the deep, long bores associated with unconventional oil and gas wells. Atlas Copco Secoroc PDC bits feature deep leach cutters created with MegaDiamond’s proprietary, patented deep leaching technology. Canacol negotiates gas sales as it triples Colombia output Canacol Energy Ltd., a natural gas explorer in Colombia, is negotiating new supply deals as it steps up drilling and expects to more than triple gas production in the Andean country by year-end. Gazprom shifts goal for signing China gas contract Gazprom PJSC, the world’s biggest natural gas supplier, is shifting the goalpost for signing a firm contract with China to supply gas from Western Siberia under a deal that would make the Asian nation Russia’s biggest customer for the fuel. Russia’s NOVATEK sells 9.9% stake in Yamal LNG to Chinese investment fund OAO NOVATEK and China’s Silk Road Fund (SRF) have concluded a framework agreement on the acquisition by SRF—a $40-billion medium- to long-term investment fund—of a 9.9% equity stake in the Yamal LNG project. Iraqi oil output declining as of 2018 in Morgan Stanley’s view Iraq’s crude production will start to decline in 2018 because of a slowdown in investment due to lower oil prices and a costly war on Islamist militants, according to Morgan Stanley. Subsea specialist Tekmar defies downturn with continued growth Subsea cable protection specialist, Tekmar Energy, is bucking the market trend after experiencing steady growth in the oil and gas sector during what has been a challenging time for the industry. MEO Australia enters Cuba with Block 9 PSC MEO Australia has executed the Cuba Block 9 Production Sharing Contract (PSC) with the national oil company Cuba Petróleo Union (CUPET) in a ceremony in Havana, Cuba. Premier Oil comes up dry northeast of Valhall field Premier Oil Norge, operator of production license 539, is in the process of completing the drilling of wildcat well 3/7-10 S.