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Rigzone.com: Industry Headlines



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



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US, Mexico, Cuba Ready To Sign 'Doughnut Hole' Deal In Gulf Waters

Tue, 17 Jan 2017 00:00:00 GMT

The United States, Mexico and Cuba aim to sign an agreement determining territorial water limits before US President-elect Donald Trump takes office.



Oil Prices Fall On Strong Dollar, US Output Rise Expectations

Wed, 18 Jan 2017 00:00:00 GMT

Oil prices fall to their lowest in a week, on a strong dollar and expectations that US producers would boost output.



BLOG: Buhari Changes Hard-Line Approach to Delta Unrest

Wed, 18 Jan 2017 00:00:00 GMT

Nigerian President Muhammadu Buhari looks to implement a peaceful approach to deal with militants attacking oil and gas firms in the Niger Delta.



Egypt To End Capital Controls, Reform Oil Sector Under IMF Deal

Wed, 18 Jan 2017 00:00:00 GMT

Egypt will scrap its remaining caps on transfers and deposits of foreign currency by the end of June.



IEA Sees Significant Gains in US Shale Oil as Prices Rise

Wed, 18 Jan 2017 00:00:00 GMT

Oil-price gains will trigger a "significant" increase in US shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency.



Rystad Energy: Global Oil, Gas Discoveries Drop To 70-Year Low

Wed, 18 Jan 2017 00:00:00 GMT

Oil and gas discoveries around the world dropped last year to their lowest since the 1940s after companies sharply cut back in their search for new resources amid falling oil prices.



NPDC Pipeline Set on Fire, Cause Unclear

Wed, 18 Jan 2017 00:00:00 GMT

A crude oil pipeline belonging to the Niger Petroleum Development Company was set on fire, according to a report from Nigerian newspaper Vanguard.



Oil Steady As Weak Dollar Offsets US, Russia Output Forecasts

Tue, 17 Jan 2017 00:00:00 GMT

Oil prices were little changed as a decline in the US dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.



Trump Interior Nominee Would Review Obama's Limits On Oil Drilling

Tue, 17 Jan 2017 00:00:00 GMT

President-elect Trump's pick to run the Department of the Interior said he would consider scrapping some of President Obama's environment initiatives if confirmed.



ExxonMobil's $5.6B Acquisition Validates Permian as Core Operator Strategy

Tue, 17 Jan 2017 00:00:00 GMT

ExxonMobil's acquisition of Delaware Basin assets in the Permian represents good shareholder value and validates the industry's acquisition focus on the Delaware.



E&P Consultants Earning 27% Less than in 2013

Tue, 17 Jan 2017 00:00:00 GMT

Consultants currently working in the exploration and production sector are earning, on average, 27% less than they did in 2013, according to consultancy firm OPC.



Seven Enablers for Building the LNG Transport Fuel Market

Tue, 17 Jan 2017 00:00:00 GMT

Once crude starts to recover and the price arbitrage with gas starts to open-up again, the fundamentals are there for growth.



Kemp: US Oil, Gas Industry Has Turned The Corner

Tue, 17 Jan 2017 00:00:00 GMT

US petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion.



China's Inescapable Oil Slide Is a Record-Breaking OPEC Gift

Tue, 17 Jan 2017 00:00:00 GMT

OPEC's campaign to prop up oil prices is getting unlikely support from its biggest customer.



Modest Recovery Within UK Upstream Sector Expected in 2017

Tue, 17 Jan 2017 00:00:00 GMT

There will be a modest recovery within the UK upstream oil and gas sector this year, according to global natural resources consultancy Wood Mackenzie.



Oil Up On Saudi Commitment To Cut; U.S. Output Seen Rising

Mon, 16 Jan 2017 00:00:00 GMT

Oil prices settle up, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year.



Noble Buys Clayton Williams for $2.7 Billion to Grow in Permian

Mon, 16 Jan 2017 00:00:00 GMT

Noble Energy agreed to buy Clayton Williams Energy for $2.7 billion in stock and cash to expand in America's hottest shale play.



Venezuela Will Circulate New Proposal To Support Oil Prices Next Week

Mon, 16 Jan 2017 00:00:00 GMT

Venezuela will next week circulate a new proposal to crude producers in a bid to support oil prices, President Nicolas Maduro said, without providing details.



Aker BP Positioned for Further Growth

Mon, 16 Jan 2017 00:00:00 GMT

Independent exploration and production company Aker BP ASA is positioned for further growth, according to the firm's CEO, Karl Johnny Hersvik.



Iran Oil Minister Certain That Oil Prices Will Rise

Mon, 16 Jan 2017 00:00:00 GMT

Iran's oil minister said that he was confident the OPEC and non-OPEC members would commit to the output cut deal agreed in November, noting that prices of oil would rise further as a result.