Europe ///

Oil sails from Russia to Asia faster on smaller ships

With supertankers booked solid carrying cheap crude, smaller vessels are taking advantage of the opportunity by hauling record volumes of Russian oil to Asia.

Oil & Gas UK names new CEO

The Board of Oil & Gas UK has announced the appointment of Deirdre Michie as the organization’s new chief executive.

German beer brewers win hydraulic fracturing protection for water wells

German brewers have won the backing of Chancellor Angela Merkel’s government to protect the springs they use from hydraulic fracturing, which they say could taint the purity of their beer.

Statoil awards Mariner supply base, warehousing contracts to Asco

Statoil (UK) Limited has awarded the contracts for supply base and warehousing services for Mariner field to Asco UK Limited.

Nexen implements Petrotechnics’ Proscient platform on UKCS operations

Petrotechnics has completed the implementation of its Proscient software platform on two UK offshore assets operated by Nexen Petroleum UK Ltd., a wholly owned subsidiary of CNOOC Limited.

Det Norske reviews funding as oil drops

Det Norske Oljeselskap, the oil producer controlled by billionaire Kjell Inge Roekke, is reviewing its funding options and cutting costs as a plunge in crude prices caps the cash flow it needs for new projects.

Shell planning to decommission Brent Delta platform

A thirty-day public consultation on plans to commence decommissioning of the Brent oil and gas field in the North Sea is underway.

Industry-critical mattress decommissioning research commences

Decom North Sea (DNS), the representative body for the decommissioning industry, commissions and facilitates projects that deliver meaningful benefits for its members and improves the efficiency of future of decommissioning activities.

New insight into oil flow could pave the way for improved recovery

The amount of oil recoverable from reservoirs in deep rock formations could be improved, following a new discovery by scientists at the University of Edinburgh and Heriot-Watt.

Atlantic Petroleum announces farm-down option deal with Statoil on Norway PL704, PL705 and PL802

Atlantic Petroleum has announced that the company has entered into a farm-down option deal with Statoil Petroleum related to the PL704, PL705 and PL802 licenses in the Vøring basin.

Atlantic Petroleum inks farm-down agreement with Statoil on PL602

Atlantic Petroleum has announced that the company has entered into a commercial farm-down agreement with Statoil Petroleum related to the PL602 license.

Atlantic Petroleum to drill a well on Norway PL602

Atlantic Petroleum has announced that the PL602 partnership has decided to drill a well to test the Roald Rygg Prospect in PL602. The well is planned to be drilled in 2015.

Chevron dry holes rate almost doubles amid shift to Americas

SAN RAMON, Calif. (Bloomberg) -- Chevron Corp.’s exploration failure rate almost doubled last year as the second-largest U.S. energy producer shifted more drilling efforts to American fields from other parts of the world.

OEG buys West Australian oilfield services providers

Two West Australian-based oilfield services providers have been purchased by global offshore equipment firm OEG Offshore.

Norway’s PSA investigates man-overboard incident on Scarabeo 8

Norway’s Petroleum Safety Authority (PSA) is to investigate an incident where a person fell overboard from Scarabeo 8, on Goliat field in the Barents Sea, on Feb. 20.

Norway’s PSA to investigate leak at Statoil's Gudrun

Norway’s Petroleum Safety Authority has decided to initiate an investigation following a hydrocarbon leak on Gudrun field in the North Sea.

OMV Petrom 2014 profit falls 56% as oil prices prompt fourth-quarter loss

BUCHAREST, Romania (Bloomberg) -- OMV Petrom, Romania’s largest oil company, said its 2014 net income declined 56% from a year earlier as falling oil prices caused a loss in the fourth-quarter.

Aker Solutions to cut jobs amid oil slump

Aker Solutions will in 2015 adjust its workforce capacity within the maintenance, modifications and operations (MMO) market in Norway after a continued decline in activity levels. About 300 engineering and project management employees in the Norwegian MMO business may be affected.

Technip promises revenue growth in 2015 amid oil-price slump

Technip SA, France’s largest oil engineer, promised revenue and profit growth in 2015 even after the decline in crude prices forced the industry to cut capital spending.

Oil advances to highest this year amid Libyan, Iraqi disruptions

Oil rose to the highest level this year as chaos in Libya curbed output and as an agreement between Iraq’s central government and the Kurdish region over crude exports was tested by falling prices.