Industry News

This is news related to the energy sector.  Clicking on stories below will take you to the publisher's website.


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The Alaska Legislature, motivated by the threat of a government shutdown, approved a plan late Thursday to fund state operations for another year.

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The US Gulf of Mexico rig count remained unchanged for the third week in a row according to the latest Baker Hughes weekly rig count. 

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The overall US rig count’s streak of consecutive weekly increases reached 23 during the week ended June 26, reflecting a continued surge in oil-directed rigs and more drilling in Oklahoma and North Dakota.

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ONGC has equalled its pre-monsoon rig move record, executing 33 jackup movements between April and June.

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The Norwegian Ministry of Petroleum and Energy has opened the country’s 24th licensing round.

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Gazprom Neft PJSC reported the start of exploratory drilling on the Ayashsky block in the Sea of Okhotsk by Japan Drilling Co. Ltd.’s Hakuryu-5 semisubmersible drilling rig.

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McDermott International has contracted PJ Valves and PJ Piping to supply valves and piping elements for a development offshore Trinidad and Tobago.

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Eni SPA and JSC KazMunayGas (KMG) have agreed to renew Eni’s 50% share of subsoil use rights for exploration and production on Isatay block in the Caspian Sea. The initial agreement was signed 3 years ago.

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Newly formed private Perth company Tanami Energy Pty. Ltd. has emerged as the buyer of fellow Perth company Tap Oil Ltd.’s 20% interest in the undeveloped Amulet oil discovery in Carnarvon basin licence WA-8-L offshore Western Australia.

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FRAC-CHEM, an oilfield chemicals company based in Lafayette, Louisiana, is among a select few from the industry that have been invited to showcase their technology applications at Oil & Gas Industry Day; an event hosted by Amazon Web Services and Intel, that will take place on June 27th at The Westin Calgary in Calgary, Canada.

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Oil prices recovered their poise Thursday after slumping to 10-month lows on concerns of a glut in the market. However, concerns about the outlook remain and they weighed on a number of oil stocks in Europe.

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ExxonMobil Corp. has confirmed letting various turnkey and lease and operate contracts for the next phase of the Liza project offshore Guyana. Based on one of these contracts, SBM Offshore will construct, install, lease, and operate a floating production, storage, and offloading vessel. ExxonMobil recently completed the front-end engineering studies and the final investment decision on the project.

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The light, sweet crude oil price for July delivery on the New York Mercantile Exchange fell by nearly $1 to settle below $43/bbl on June 21 while Brent crude oil for August delivery fell more than $1 to reach below $45/bbl on the London market.

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ExxonMobil has formally confirmed the award of contracts for the next phase of the deepwater Liza field development off Guyana.

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Rosneft believes it has a new oil field discovery in the Laptev Sea offshore northern Russia.

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Clontarf Energy has secured deepwater block 18 under Equatorial Guinea’s 2017 Bid Round.

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A decision by Pennsylvania's highest court on Tuesday was hailed as a victory by environmental advocates on the use of public natural resources and money from oil and gas drilling in state forests.

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Oil prices are falling further to a new seven-month low, with the international benchmark for crude sliding below $46 a barrel.

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Idaho is starting its first ever audit of natural gas and oil wells on state lands to make sure the state is getting its fair cut of royalty payments, state officials say.

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Perth company FAR Ltd. has moved to arbitration to resolve the current joint operating agreement dispute regarding the company’s right to pre-empt the sale of ConocoPhillips’ interest in three blocks, including one containing the recent SNE oil discovery offshore Senegal.