WorldOil Apache reports strong results from discoveries in Egypt's Western Desert Apache Corp. has reported strong appraisal- and development-drilling results from Egypt following the discovery of two new oil fields in the Western Desert. Sabine Oil says lenders may cut credit line significantly Sabine Oil and Gas Corp., the exploration and production company that merged with Forest Oil Corp. last year, said its banks may cut its fully drawn $1 billion credit line after oil prices plunged. Keppel FELS delivers eleventh jackup to Mexico SINGAPORE -- Keppel FELS, a wholly owned subsidiary of Keppel Offshore and Marine, has delivered a KFELS B Class jackup rig to Pemex. Northern Offshore delays delivery of two new jackups Northern Offshore has negotiated a nine-month delay in the delivery of two high specification jackups, Energy Engager and Energy Encounter, from a shipyard in China, the company reported Tuesday. API urges BOEM not to cut already-restrictive offshore leasing plan WASHINGTON -- The federal government’s proposal for future offshore oil and natural gas leasing is already too restrictive and should not be reduced any further, according to comments API submitted to the Bureau of Ocean Energy Management (BOEM) on Monday. VAALCO Energy strikes out offshore Angola VAALCO Energy’s post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola, was drilled to a total vertical depth of approximately 1,829 m, the company confirmed Monday. The objective reservoir, the Mucanzo sand formation in the Pinda Group section, was found to be water-bearing and the well is in the process of being plugged and abandoned. Rosneft focuses on Russian gas as Latin American prospects appear limited: GlobalData Despite the recent Memorandum of Understanding between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating LNG projects in Russia, according to GlobalData. BNSF slows oil trains up to 30% to boost safety after accidents BNSF Railway Co. is cutting the speed of oil-carrying trains in some urban areas to as slow as 35 miles per hour, a 30% reduction, to improve safety following crude-by-rail accidents this month. Eni, Reliance ink PSCs for exploration offshore Myanmar Eni and India's Reliance Industries have signed production sharing contracts (PSCs) for two blocks each, offshore Myanmar. Eni is partnering with with Petrovietnam and Reliance has a JV with the local Myanma Oil and Gas Enterprise. Maersk Oil starts production from new platform in Danish North Sea Maersk Oil has started production from the new unmanned platform Tyra Southeast-B, the company reported Tuesday. Wood Group wins major Total contract Wood Group has been awarded a five-year, multi-million dollar contract by Total, which includes the option for two, one-year extensions.