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'Low' rates seen on $76bn Petrobras rig deal

10 February 2012 11:42 GMT

Petrobras’ monster $76 billion charter deal for 26 yet-to-be-built offshore drilling rigs may have caught the market’s eye, but some have seen the dayrates agreed as surprisingly low.

Petrobras to lease 26 rigs

10 February 2012 02:14 GMT

Brazilian giant Petrobras will hire 26 offshore drilling rigs from Sete Brasil and Ocean Rig over a 15 year period.

US rig count falls by eight

10 February 2012 19:31 GMT

The number of rigs drilling for oil and gas in the US fell by eight this week to total 1989, according to data from Houston-based oilfield services giant Baker Hughes.

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Analyst: State YPF would be no panacea

10 February 2012 19:19 GMT

Renationalising Argentina’s YPF will not solve deep and severe structural problems with the country’s energy industry, an analyst from one of the country's top think tanks wrote Friday.

Quicksilver to take Barnett MLP public

10 February 2012 21:24 GMT

Debt-laden Quicksilver Resources plans to take its master limited partnership public in a $250 million offering, to cash in on rising investor appetite for the high-yield paying corporate structure.

IEA cuts oil demand forecast to 0.8m

10 February 2012 11:05 GMT

The International Energy Agency (IEA) has cut its oil demand forecast for a sixth month in a row due to a weak global economy, predicting global oil demand will grow by less than 1% in 2012.

In Upstream Today

Giants set for Hebron slugfest

10 February 2012 16:53 GMT

ExxonMobil has issued bid documents to South Korea’s three super fabricators to build a huge 30,000-tonne deck for its groundbreaking US$8.3 billion Hebron project off Newfoundland, Canada.

flower bloom dew plant

Magnolia buys Oklahoma acreage

10 February 2012 08:55 GMT

US-focused Magnolia Petroleum has spent $230,000 to acquire a combined 439 hectares in the oil producing Mississippi Lime formation in Oklahoma, it has told the London Stock Exchange.

Repsol spuds Jaguar wildcat off Guyana

09 February 2012 18:19 GMT

Repsol Exploration has spudded the Jaguar-1 wildcat on the Georgetown license offshore Guyana, a company spokesman confirmed.

Premium Content

Survey: Shale to drive US growth in 2012

10 February 2012 00:09 GMT

Unconventional resources like shale will be the main driver of growth for the oil and gas industry in 2012 as easier access to capital will allow for faster development of these assets, according to a recent survey of 100 industry chief financial officers.

El Paso shareholders seek block on merger vote

10 February 2012 02:43 GMT

El Paso Corporation’s chief executive tainted the company's proposed $21 billion sale to rival oil pipeline company Kinder Morgan by not disclosing his personal interest in acquiring certain El Paso assets, shareholders are arguing.

Past BP incidents knocked out of trial evidence

10 February 2012 00:03 GMT

BP won a preliminary bid to bar the introduction of evidence of previous accidents involving the oil company from this month’s trial over fault for the 2010 Gulf of Mexico blast and oil spill, a report said.

Petrobras profits plunge in Q4

09 February 2012 23:31 GMT

Petrobras said Thursday its fourth-quarter profits were chopped in half as it struggled with the high costs of importing refined products, the slipping value of the real and high exploration costs.

New Petrobras chief confirmed

09 February 2012 22:10 GMT

Chesapeake hit with Pennsylvania fines

09 February 2012 19:13 GMT

New Petrobras E&P director named

09 February 2012 19:50 GMT

New Jersey moves to ban fracking

09 February 2012 21:41 GMT

PDVSA revenues, borrowing, on rise

09 February 2012 18:29 GMT

Hercules cuts full-year loss

09 February 2012 15:20 GMT

Encana on target at Tuscaloosa Marine

09 February 2012 16:34 GMT

Precision Drilling posts Q4 profits

09 February 2012 12:50 GMT

Crimson flies in Eagle Ford

09 February 2012 17:51 GMT

Yme 'ring of concern' for Talisman

09 February 2012 16:15 GMT

BP 'in Macondo settlement talks'

09 February 2012 09:30 GMT

Gas price drop hits Noble

09 February 2012 13:46 GMT

Husky triples earnings

09 February 2012 13:40 GMT

Seacor offloads some spill arms

09 February 2012 03:24 GMT

Sonde sells Duvernay play

09 February 2012 03:53 GMT

Penn House passes gas-tax bill

08 February 2012 23:55 GMT

BP wins Macondo email exclusions

08 February 2012 23:20 GMT

Venezuela in Russian tie-up

08 February 2012 17:17 GMT

Plains plans Mississippian Lime line

08 February 2012 00:08 GMT

Chavez lines up $236bn Orinoco spend

08 February 2012 14:31 GMT

Navajo teams up with energy scientists

08 February 2012 16:05 GMT

Progress cuts spending, shuts in gas

08 February 2012 17:09 GMT
europe

Total near plateau at Pazflor FPSO

French oil giant Total has revealed its mammoth Pazflor floater in Angola is now yielding more than 200,000 barrels per day, with its chief executive joking that the company’s burgeoning operations in the southern African state were “the Brazil of Angola”.

africa

Tullow quits Ntorya-1 amid deepening plans

Tullow Oil has quit an exploration well in Tanzania which recently saw drilling halted, amid a suggestion the independent’s real interest in the region lies elsewhere.

Middle East & North Africa

Zueitina gets 25 more years in Libya

Libya has granted Zueitina Oil another 25 years in concessions to work its operated oilfields in the country which is emerging from decades of rule under late leader Muammar Gaddafi.

FSU & Russia

Frac boosts Olgovskoye production

Poland’s Kulczyk Oil Ventures has said it has successfully brought its Olgovskoye-6 well onto production in Ukraine, with flow rates of more than 1.5 million cubic feet per day of natural gas.

asia & oceania

Chevron in Oz recruitment drive

Chevron is launching a major recruitment drive in Australia as it attempts to enlist hundreds of engineers to work on its Wheatstone and Gorgon liquefied natural gas projects in Western Australia.

Regions

Crude falls as IEA cuts demand view

Crude-oil futures prices fell Friday in line with broader market declines as the International Energy Agency cut its estimates for global oil demand this year, a report said.

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