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Rigzone.com: Latest News Headlines



The latest upstream oil and gas news from around the world.



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Argentine Oil And Gas Workers To Strike Over YPF Layoffs

Fri, 02 Dec 2016 00:00:00 GMT

Some 23,000 Argentine oil and gas workers will go on a 48-hour strike beginning Monday to protest YPF's decision to lay off workers.



Baker Hughes: US Oil Drilling Rig Count Recovery Extends Into 7th Month

Fri, 02 Dec 2016 00:00:00 GMT

US energy companies extended their recovery in oil drilling into a seventh month this week as they follow through on plans to add rigs as crude rose to its highest price in over a year.



Oil Rallies To Best Week In Years After OPEC Output Deal

Fri, 02 Dec 2016 00:00:00 GMT

Oil prices rallied for their best week in at least five years, steadying above $51 a barrel.



Survey: CEOs See Competitive Advantage in Technology, Not People

Fri, 02 Dec 2016 00:00:00 GMT

In a recent survey, CEOs said that technology, not people, would offer the greatest competitive advantage in the future.



Jobs Report: US Mining Employment Unchanged in Nov.

Fri, 02 Dec 2016 00:00:00 GMT

Data from the Bureau of Labor Statistics finds that employment in oil and gas extraction remains relatively unchanged in November.



Eni: Oil Worker Dies Following Congo Platform Fire

Fri, 02 Dec 2016 00:00:00 GMT

An oil and gas worker dies after a fire occurred on the Foukanda platform, located offshore the Republic of Congo, Italian energy firm Eni said Friday.



Decommission Spending May Skyrocket 540% to $210 Billion

Fri, 02 Dec 2016 00:00:00 GMT

With more than 600 projects expected during the next five years, decommissioning in the global offshore industry is heading for a perfect storm, says study author.



Azerbaijan's $35B Oil Fund Pledges To Improve Transparency

Fri, 02 Dec 2016 00:00:00 GMT

SOFAZ is committed to keep improving transparency, its executive director said, in order to meet a key international benchmark that would make the country more attractive to foreign investors.



Ahead Of Promised Cut, Russia's Oil Output Hits Record High

Fri, 02 Dec 2016 00:00:00 GMT

Russia plans to use its rercent oil production as its baseline when it cuts output under this week's deal with OPEC,Deputy Energy Minister Kirill Molodtsov says.



OPEC To Meet Non-OPEC Producers On Dec. 10 In Moscow

Fri, 02 Dec 2016 00:00:00 GMT

OPEC will meet non-OPEC countries to finalise a global oil limiting pact on Dec. 10 in the Russian capital Moscow, two OPEC sources told Reuters on Friday.



Egypt Accepts Six Bids For Oil And Gas Exploration

Fri, 02 Dec 2016 00:00:00 GMT

Egypt has accepted 6 bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday.



Private Equity Funds, Former Oil Execs Eye Southeast Asia Energy Assets

Fri, 02 Dec 2016 00:00:00 GMT

Flush with cash, private equity-backed firms and former oil industry executives are eyeing energy assets in Southeast Asia.



Subsea 7 Secures Services Contract with Woodside Energy

Fri, 02 Dec 2016 00:00:00 GMT

Oilfield services company Subsea 7 S.A. secures a sizeable contract with Woodside Energy Ltd for the Greater Western Flank Phase 2 Project, offshore Australia.



Production Drilling Begins at Mariner Field in UK North Sea

Fri, 02 Dec 2016 00:00:00 GMT

Production drilling has started on the Mariner field in the UK North Sea, Statoil announced Friday.



Zion Granted Approval to Drill Well Onshore Israel

Fri, 02 Dec 2016 00:00:00 GMT

Zion Oil & Gas has been granted approval by the State of Israel's petroleum commissioner to drill an oil well in Israel, within its 99,000 acre license.



Gazprom In Talks With Japanese Banks About Raising $850M

Fri, 02 Dec 2016 00:00:00 GMT

Russian gas giant Gazprom is working on a deal under which Japanese banks would provide it with financing worth 800 million euros ($851.28 million), two sources familiar with the discussions told Reuters.



Analysts: OPEC Deal will see Brent Hit $72

Fri, 02 Dec 2016 00:00:00 GMT

The price of Brent crude oil will hit $58 per barrel in 2017 and $72 per barrel in 2018, according to forecasts from oil and gas analysts at investment bank Jefferies.



Samsung Heavy Says $776.8M Order For LNG Facility Cancelled

Fri, 02 Dec 2016 00:00:00 GMT

Samsung Heavy Industries Co Ltd says a $776.8 million order for a substructure for a liquefied natural gas (LNG) floating production, storage and offloading (FPSO) unit has been cancelled.



Louisiana LNG Export Project Clears DOE Hurdle

Thu, 01 Dec 2016 00:00:00 GMT

The DOE grants authorization for a proposed LNG terminal in Lake Charles, La., to export LNG to countries with which the United States has not entered into a free trade agreement (non-FTA approval).



Oil Soars, Brent Hits 16-Month High After OPEC Output Deal

Thu, 01 Dec 2016 00:00:00 GMT

Oil prices surge 4%, with Brent crude at its highest in about 16 months.