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

Copyright: Copyright 2017 Inc. All rights reserved.

Schlumberger Buys Eurasia Drilling Stake In Test Of Russia-US Ties

Fri, 21 Jul 2017 00:00:00 GMT

Schlumberger NV has agreed to buy a 51% stake in Russian peer Eurasia Drilling Co (EDC) in a deal likely to test Russia-US ties.

GE Sinks as Oil Outlook Sputters, Marring End of Immelt's Tenure

Fri, 21 Jul 2017 00:00:00 GMT

Even in his final days as General Electric Co.'s CEO, Jeffrey Immelt can't escape the stench of oil.

African Petroleum Lets Blocks Sale Exclusivity Clause Lapse

Thu, 20 Jul 2017 00:00:00 GMT

African Petroleum has agreed to let an exclusive agreement lapse in talks to sell oil licenses in Gambia and Senegal, it says.

Singapore's Keppel Posts Lower 2Q Profit, Says Rig Market Outlook Muddy

Thu, 20 Jul 2017 00:00:00 GMT

Keppel posts a 21% drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market.

First Phase of Saudi Aramco's Energy Industrial City Complete in 2021

Tue, 18 Jul 2017 00:00:00 GMT

State oil firm Saudi Aramco said the first phase of a new Energy Industrial City in Saudi Arabia will be completed in 2021.

New UK Listing Rules Set to Attract State Companies Beyond Aramco

Mon, 17 Jul 2017 00:00:00 GMT

Saudi Arabia, Oman and Abu Dhabi have all announced plans in the past year to float some of their oil assets.

Centrica Merges Oil Business with Bayerngas to Tap Younger Fields

Mon, 17 Jul 2017 00:00:00 GMT

Centrica will own 69 percent of the new entity and raise its interests in younger fields.

SBM Offshore, Repsol to Get $247 Million in Yme Insurance Settlement

Mon, 17 Jul 2017 00:00:00 GMT

SBM Offshore and Repsol will share an insurance payment of $247 million, less legal costs, related to a troubled Norwegian offshore project.

Diplomat: Russia's Rosneft Plans To Open Mozambique Office

Thu, 13 Jul 2017 00:00:00 GMT

Rosneft is preparing to open an office in Mozambique, a senior Mozambican diplomat says.

Shell To Sell Stake In Corrib Gas Field In Ireland For $1.23B

Wed, 12 Jul 2017 00:00:00 GMT

Shell to sell its 45% stake in the Corrib gas venture to a unit of Canada Pension Plan Investment Board (CPPIB) for up to $1.23 billion

Ophir Energy Cuts Cost; Eliminates Staff

Wed, 12 Jul 2017 00:00:00 GMT

British oil and gas explorer cuts 15% of its global workforce as it "right sizes" for new FLNG Project.

Halcon Pivots to Permian with $1.4 Billion Bakken Deal

Tue, 11 Jul 2017 00:00:00 GMT

Shale oil producer Halcon Resources Corp said it would sell most of its North Dakota operations for $1.4 billion cash, part of a plan to shift its focus to Texas' Permian Basin, the largest U.S. oilfield.

Freeport-McMoRan Cuts Another 25 Jobs

Mon, 10 Jul 2017 00:00:00 GMT

Houston-based Freeport-McMoRan Oil and Gas is conducting another round of layoffs due to asset sales.

Cargill Completes Sale Of Petroleum Business To Macquarie

Fri, 07 Jul 2017 00:00:00 GMT

Commodity trader Cargill Inc completes the sale of its petroleum business to Australian investment bank Macquarie Group Ltd.

Ocean Installer Secures Subsea Work with Statoil

Fri, 07 Jul 2017 00:00:00 GMT

Ocean Installer has been awarded a contract for subsea installations and tie-in operations for Statoil on Johan Sverdrup, as well as Utgard and Bauge.

Apache to Exit Canada

Fri, 07 Jul 2017 00:00:00 GMT

Apache Corporation confirms it will complete an exit from Canada upon the closing of 3 recent transactions.

African Petroleum's Priority Is To Have Dialogue With Gambia

Thu, 06 Jul 2017 00:00:00 GMT

African Petroleum's first priority is to engage in a constructive dialogue with Gambian authorities, its CEO says.

Gazprom Strengthens Ties with Hungary

Thu, 06 Jul 2017 00:00:00 GMT

Gazprom and the Hungarian Ministry of Foreign Affairs and Trade have agreed to advance cooperation.

Halliburton in Summit Acquisition

Thu, 06 Jul 2017 00:00:00 GMT

Halliburton Company announces the acquisition of Summit ESP, a provider of electric submersible pump (ESP) technology and services.

Gambia Oil Minister Confirms End To Talks With African Petroleum

Wed, 05 Jul 2017 00:00:00 GMT

Gambian Oil Minister Fafa Sanyang confirms the West African nation has ended talks to extend the exploration rights of Oslo-listed African Petroleum for 2 offshore oil blocks.