http://www.worldoil.com WorldOil Shell takes final investment decision for Kaikias deepwater project https://www.worldoil.com/news/2017/2/28/shell-takes-final-investment-decision-for-kaikias-deepwater-project Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, and MOEX North America LLC (MOEX NA), a wholly owned subsidiary of Mitsui Oil Exploration Co., have each taken the final investment decision to execute phase one of the Kaikias deepwater project in the U.S. Gulf of Mexico. U.S. shale surge threatens OPEC strategy https://www.worldoil.com/news/2017/2/28/us-shale-surge-threatens-opec-strategy OPEC’s Nov. 30 output agreement to cut production by 1.2 MMbpd may have put a floor under the oil price, but has also awakened U.S. shale. Hedge funds may be falling back in love with commodities https://www.worldoil.com/news/2017/2/28/hedge-funds-may-be-falling-back-in-love-with-commodities Hedge funds are raising their exposure to commodities as prices rally and investors respond to macro shifts including the prospect of accelerating inflation under U.S. President Donald Trump, according to Citigroup Inc. BP targets $40 break-even price in four years to reassure investors https://www.worldoil.com/news/2017/2/28/bp-targets-40-break-even-price-in-four-years-to-reassure-investors BP Plc said it will need an oil price of about $40/bbl in 2021 to be able to cover spending and dividends, lowering the so-called cash-balance point from $60 this year. Fracing provider STEP seeks $152 million in Canadian IPO https://www.worldoil.com/news/2017/2/28/fracing-provider-step-seeks-152-million-in-canadian-ipo STEP Energy Services Ltd., a fracing services provider, plans to raise about C$200 million ($152 million) in the biggest initial public offering (IPO) in the Canadian oil and gas industry in more than two years. Forum Energy seals ROV deal with Norway's ESEA Submarine https://www.worldoil.com/news/2017/2/28/forum-energy-seals-rov-deal-with-norways-esea-submarine Forum Energy Technologies, Inc. has delivered a Remotely Operated Vehicle (ROV) to ESEA Submarine AS to perform a variety of offshore roles, including inspection, survey and salvage work. Marathon Oil appoints Dane Whitehead as executive V.P., CFO https://www.worldoil.com/news/2017/2/28/marathon-oil-appoints-dane-whitehead-as-executive-vp-cfo Marathon Oil Corp announced Dane Whitehead has been appointed executive vice president and chief financial officer, with an anticipated effective date of March 6. Exxon Mobil’s post-Tillerson fortunes closer to home as new CEO pivots https://www.worldoil.com/news/2017/2/28/exxon-mobil-s-post-tillerson-fortunes-closer-to-home-as-new-ceo-pivots Exxon Mobil is pinning its fortunes closer to home as new CEO Darren Woods veers from the oil titan’s longtime focus on Asian and African riches. Gazprom sees cheap gas keeping European market strong for years https://www.worldoil.com/news/2017/2/28/gazprom-sees-cheap-gas-keeping-european-market-strong-for-years Russia will keep Europe hooked on its natural gas for years to come, using its huge reserves and lower production costs in Siberia to maintain attractive prices, according to state-run Gazprom. Oil holds near $54, as U.S. boosts rig count to most since 2015 https://www.worldoil.com/news/2017/2/27/oil-holds-near-54-as-us-boosts-rig-count-to-most-since-2015 Oil traded near $54/bbl after the U.S. boosted drilling rigs to the most since October 2015, keeping prices in a tight range amid speculation the country’s output may rise and counteract OPEC production cuts. TAM International appoints new chairman of the board, president https://www.worldoil.com/news/2017/2/27/tam-international-appoints-new-chairman-of-the-board-president TAM International, Inc., an independent oilfield services company providing inflatable and swellable packers to the oil and gas industry, announces that L. Bentley Sanford has moved into the position of chairman of the board and has appointed Michael Machowski as the new president of the company.