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

Copyright: Copyright 2016 Inc. All rights reserved.

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.

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.

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.

CLNR 'Significantly' Increases Resources at License P2252

Thu, 01 Dec 2016 00:00:00 GMT

CLNR announces a significant increase in P50 Prospective Resources on its 100% owned License P2252, from 162 billion cubic feet to 636 Bcf.

Rolls-Royce To Cut Another 800 Jobs At Marine Unit

Thu, 01 Dec 2016 00:00:00 GMT

British engineering company Rolls-Royce said it would cut a further 800 jobs in its marine business.

Centrica Sells Trinidad And Tobago Gas Assets To Shell

Wed, 30 Nov 2016 00:00:00 GMT

British utility Centrica said on Wednesday it has agreed to sell its gas assets in Trindad and Tobago for $30 million to Royal Dutch Shell.

Cooper Energy CFO Steps Down

Wed, 30 Nov 2016 00:00:00 GMT

Australia-focused exploration and production company Cooper Energy announced Wednesday that its chief financial officer Jason de Ross will be resigning Dec. 9.

Aibel Secures Troll C FEED Contract

Wed, 30 Nov 2016 00:00:00 GMT

Oilfield services firm Aibel secures a contract for a FEED (front end engineering design) study for the installation of a new gas module on the Troll C platform, located offshore Norway.

Aker BP Awards 5-Year Services Contract to DNV GL

Wed, 30 Nov 2016 00:00:00 GMT

Aker BP awards a new frame agreement to DNV GL covering a range of safety, verification, inspection and classification services across its installations on the Norwegian Continental Shelf.

Baker Hughes To Form Fracturing JV With Goldman Sachs, CSL Capital

Tue, 29 Nov 2016 00:00:00 GMT

Baker Hughes says it has reached an agreement with CSL Capital Management and Goldman Sachs Group's merchant banking division.

Engie Chairman Mestrallet Confirms Support For CEO Kocher

Tue, 29 Nov 2016 00:00:00 GMT

French gas and power group Engie's chairman Gerard Mestrallet confirms his support for new chief executive Isabelle Kocher, following media reports about tensions between the two managers.

Rowan Idles Rig, Will Lay Off Up To 110 Workers

Mon, 28 Nov 2016 00:00:00 GMT

Rowan will lay off up to 110 workers after it loses a contract on one of its rigs offshore the Gulf of Mexico.

Sources: Shell Considering Selling its Iraq Oil Assets

Mon, 28 Nov 2016 00:00:00 GMT

Royal Dutch Shell is considering selling out of its oil fields in Iraq as part of its global $30 billion asset disposal programme, industry sources said.

BP Buys Interests in 2 North Sea Prospects

Mon, 28 Nov 2016 00:00:00 GMT

BP buys interests in 2 North Sea exploration prospects, Jock Scott and Craster, after purchasing parts of several licenses to the east and west of Shetland.

Eni Agrees To Sell 10% Stake In Egypt Concession To BP

Fri, 25 Nov 2016 00:00:00 GMT

Eni has agreed to sell a 10% stake in the Shorouk concession offshore Egypt to BP, the Italian oil and gas group said in a statement on Friday.

Saudi Arabia Tells OPEC It Won't Attend Non-OPEC Talks On Monday

Fri, 25 Nov 2016 00:00:00 GMT

Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend scheduled talks in Vienna on Monday with non-OPEC oil producers.

Iraqi Oil Minister Reshuffles Senior Officials

Thu, 24 Nov 2016 00:00:00 GMT

Iraq's Oil Minister Jabar Ali al-Luaibi is reshuffling senior officials in a bid to revitalize a ministry that wants to improve the OPEC nation's ability to boost oil production.

OMV Finds Crack in Maari Platform, Ceases Production

Thu, 24 Nov 2016 00:00:00 GMT

The operator of the Maari oil-field, OMV New Zealand, has ceased oil production and is de-manning the Maari wellhead platform as a precautionary measure.

Official Sees Cost as Biggest Barrier for Water Treatment Companies

Thu, 24 Nov 2016 00:00:00 GMT

A Marcellus water treatment company is seeking to build a facility that can treat produced water in Oklahoma.

African Petroleum Exits Liberia

Wed, 23 Nov 2016 00:00:00 GMT

West Africa-focused independent energy firm, African Petroleum, announces that the production sharing contracts for blocks LB-08 and LB-09 in Liberia have expired and will not be extended.