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

Copyright: Copyright 2016 Inc. All rights reserved.

Petrofac Appoints New CFO

Fri, 21 Oct 2016 00:00:00 GMT

Oilfield services company Petrofac Limited has appointed Alastair Cochran as the company's new chief financial officer and executive director, succeeding Tim Weller.

Shell Divests Non-Core Oil, Gas Properties in Canada for $1 Billion

Fri, 21 Oct 2016 00:00:00 GMT

Shell will sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada for a total consideration of approximately $1.037B.

Sea Trucks Group Secures Work Offshore West Africa

Fri, 21 Oct 2016 00:00:00 GMT

Offshore services provider Sea Trucks Group secures a contract award from an unnamed oil major in West Africa.

Aker Solutions to Buy Brazilian C.S.E

Fri, 21 Oct 2016 00:00:00 GMT

Aker Solutions agrees to buy 70% of Brazilian C.S.E. Mecanica e Instrumentaçao Ltda.

Schoeller-Bleckmann Says Oil Patch Bottom Reached, Sees Upturn

Fri, 21 Oct 2016 00:00:00 GMT

The chief executive of Schoeller-Bleckmann Oilfield Equipment said on Friday it was fair to say that a bottom has been reached in the oil industry, pointing to rising rig counts.

BHP Chairman Steps Down After Samarco Delayed Retirement

Thu, 20 Oct 2016 00:00:00 GMT

BHP Billiton Chairman Jac Nasser says he will not seek re-election at next year's annual general meeting.

Subsea 7 Secures Services Contract Offshore Egypt

Thu, 20 Oct 2016 00:00:00 GMT

Oilfield services firm Subsea 7 S.A. secures a "substantial" services contract offshore Egypt, worth between $150-300 million, from Pharaonic Petroleum Company.

Woodside: Oil, Gas Deal Environment Has Improved Over Past Year

Thu, 20 Oct 2016 00:00:00 GMT

The environment for getting deals done in oil and gas is better now than it was a year ago says Woodside Petroleum's Chief Financial Officer Lawrie Tremaine.

MX Oil: First Sale From Oil Production at Aje Registered

Wed, 19 Oct 2016 00:00:00 GMT

MX Oil announces that PR Oil and Gas Limited, the holder of its investment in OML 113, has received $1.2 million from the sale of the first production of oil from the Nigerian Aje Field.

Faroe to Increase CAPEX in 2017

Wed, 19 Oct 2016 00:00:00 GMT

Independent oil and gas company Faroe Petroleum has announced plans to increase its net capital expenditure for production assets in 2017.

Halliburton Posts Surprise Profit As Expenses Fall

Wed, 19 Oct 2016 00:00:00 GMT

Halliburton posts a surprise quarterly profit, helped by higher cost cuts, and says it expected a rise in oil prices to boost rig counts.

Shell Selling 16 Assets Worth More Than $500M

Wed, 19 Oct 2016 00:00:00 GMT

Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales program.

Cluff Natural Resources Reveals Substantial Prospective Resource Increase

Wed, 19 Oct 2016 00:00:00 GMT

Cluff Natural Resources plc announces a "substantial" increase in the prospective resources for its wholly owned P2248 (Block 43/11) license, located in the Southern North Sea gas basin.

Mexico's Pemex OKs New Gulf Joint Venture In Bid To Boost Output

Tue, 18 Oct 2016 00:00:00 GMT

Pemex approves a joint venture for two shallow water fields in the Gulf of Mexico, the firm says.

DNV GL Calls On Industry to Join Safety JIP

Tue, 18 Oct 2016 00:00:00 GMT

DNV GL has called on oil and gas companies to team up for a joint industry safety project, after investigating over 2,000 incidents and failures globally and identifying a number of data trends.

Oil Search Q3 Revenue Beats Forecasts

Tue, 18 Oct 2016 00:00:00 GMT

Papua New Guinea-focused Oil Search reports a 16% rise in 3Q revenue over the previous quarter, thanks to a rise in oil and gas prices and higher volumes.

Czech Energy Firm EPH Agrees Sale Of EP Infrastructure Stake To Macquarie

Mon, 17 Oct 2016 00:00:00 GMT

Czech energy group EPH agrees to sell a 30% stake in its EP Infrastructure (EPIF) unit to an investor group led by Macquarie Infrastructure and Real Assets.

Sinochem Unit Says Has No Knowledge Of Merger With ChemChina

Mon, 17 Oct 2016 00:00:00 GMT

Sinochem International Corp, a unit of state-owned Sinochem Group, says it has received no information regarding a proposed merger of its parent company with rival ChemChina.

Russia's Rosneft, Partners to Invest around $12.9B in India's Essar Oil

Sat, 15 Oct 2016 00:00:00 GMT

Rosneft CEO Igor Sechin says his company will invest around $12.9 billion in India's Essar Oil.

Oil, Gas Companies Seek Technology for Data Delivery

Fri, 14 Oct 2016 00:00:00 GMT

Oceaneering is partnering with PacStar to deliver Internet of Things technology to help oil and gas companies stream and manage offshore data.