http://www.worldoil.com WorldOil OEG Offshore merges with Gulf coast equipment provider https://www.worldoil.com/news/2015/8/28/oeg-offshore-merges-with-gulf-coast-equipment-provider OEG Offshore, a global provider of cargo carrying units (CCUs) and A60 modules to the oil and gas industry, has announced the merger of its U.S. business with Louisiana-based oilfield equipment provider Cameron Rental and Tank Inc. (CRT). IKM Testing acquires Oceaneering’s machining, cutting business https://www.worldoil.com/news/2015/8/28/ikm-testing-acquires-oceaneering-s-machining-cutting-business The IKM Group announced Friday that IKM Testing has entered into a purchase agreement to acquire Oceaneering’s Norwegian onsite machining and cutting business. Citigroup’s Morse says WTI under $30 needed to curb output https://www.worldoil.com/news/2015/8/28/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. McDermott bags its largest Middle East contract from Saudi Aramco https://www.worldoil.com/news/2015/8/28/mcdermott-bags-its-largest-middle-east-contract-from-saudi-aramco McDermott International has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. Chinese oil giants eschew global jobs purge amid belt tightening https://www.worldoil.com/news/2015/8/28/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 https://www.worldoil.com/news/2015/8/28/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. Oil surges most in six years on faster U.S. economic growth https://www.worldoil.com/news/2015/8/27/oil-surges-most-in-six-years-on-faster-us-economic-growth Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted. EIA expects near-term decline in natural gas production in major shale regions https://www.worldoil.com/news/2015/8/27/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. ABB names Pilon as managing director for Canada https://www.worldoil.com/news/2015/8/27/abb-names-pilon-as-managing-director-for-canada MONTREAL, Québec -- ABB has named Nathalie Pilon as the new managing director for ABB in Canada, effective Oct. 1. Pilon replaces Daniel Assandri who led the successful expansion of Canada over the past five years. Schlumberger's $14.8-billion Cameron purchase could inspire more deals https://www.worldoil.com/news/2015/8/27/schlumbergers-148-billion-cameron-purchase-could-inspire-more-deals Schlumberger Ltd.’s takeover of Cameron International Corp. could inspire more dealmaking. DNV GL awards class for two self-elevating construction, accommodation units https://www.worldoil.com/news/2015/8/27/dnv-gl-awards-class-for-two-self-elevating-construction-accommodation-units DNV GL will be working with the Chinese-owned Tianjin Desail to develop a new liftboat design for offshore construction, accommodation and maintenance.