www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Gazprom 'sounding out' Norway http://www.upstreamonline.com/live/1382124/Gazprom-sounding-out-Norway Russian gas giant Gazprom is reported to have made initial inquiries with the Oslo authorities with a view to participating directly in licences off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1382124/Gazprom-sounding-out-Norway Thu, 30 Oct 2014 15:50:02 +0000 live Profit slips at Sinopec http://www.upstreamonline.com/live/1382084/Profit-slips-at-Sinopec Net profit at Chinese refining giant Sinopec slipped in the third quarter in part due to a fall in global crude oil priced, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1382084/Profit-slips-at-Sinopec Thu, 30 Oct 2014 13:03:38 +0000 live Sistema 'may appeal' Bashneft stake court ruling http://www.upstreamonline.com/live/1382078/Sistema-may-appeal-Bashneft-stake-court-ruling Shares in Russian oil company Bashneft that are owned by Sistema are to be seized by the state, a Moscow court has ruled. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1382078/Sistema-may-appeal-Bashneft-stake-court-ruling Thu, 30 Oct 2014 12:38:22 +0000 live NOV rises on contract revenue http://www.upstreamonline.com/live/1382072/NOV-rises-on-contract-revenue Oilfield equipment supplier National Oilwell Varco (NOV) notched up a 10% increase in third-quarter net profit as stronger revenue from existing contracts helped it to defy a market slowdown fuelled by falling oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1382072/NOV-rises-on-contract-revenue Thu, 30 Oct 2014 11:43:51 +0000 live ConocoPhillips raises profits by 8% http://www.upstreamonline.com/live/1382071/ConocoPhillips-raises-profits-by-8 US oil major ConocoPhillips raised third-quarter earnings by about 8% to $2.7 billion compared to the same period last year thanks to netting $1.4 billion from the sale of its Nigerian business. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1382071/ConocoPhillips-raises-profits-by-8 Thu, 30 Oct 2014 11:31:47 +0000 live Eni, Pemex ink MoU http://www.upstreamonline.com/live/1381919/Eni-Pemex-ink-MoU Italy’s Eni may look to strike a strategic partnership with Mexican state oil giant Pemex to co-operate in the upstream sector. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381919/Eni-Pemex-ink-MoU Thu, 30 Oct 2014 10:42:29 +0000 live Shell names Holliday new chairman http://www.upstreamonline.com/live/1381906/Shell-names-Holliday-new-chairman Shell has named Charles ‘Chad’ Holliday as its new chairman starting next year as current chair Jorma Ollila’s long tenure draws to a close. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381906/Shell-names-Holliday-new-chairman Thu, 30 Oct 2014 10:24:31 +0000 live Prices 'will squeeze Shell revenues' http://www.upstreamonline.com/live/1381913/Prices-will-squeeze-Shell-revenues Shell would face an $8 billion impact on its results if the recent $25 drop in Brent oil prices were to be sustained for a full year, chief financial officer Simon Henry has warned. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381913/Prices-will-squeeze-Shell-revenues Thu, 30 Oct 2014 10:19:38 +0000 live Eurasia revenues down http://www.upstreamonline.com/live/1381901/Eurasia-revenues-down Revenues slipped a tenth at Russia’s Eurasia Drilling Company (EDC) in the first nine months of the year as drilling activity fell back. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381901/Eurasia-revenues-down Thu, 30 Oct 2014 09:13:29 +0000 live Eni posts weaker E&P results http://www.upstreamonline.com/live/1381894/Eni-posts-weaker-EP-results Overall adjusted net profit up but lower prices and output drag down exploration and production segment Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381894/Eni-posts-weaker-EP-results Thu, 30 Oct 2014 08:13:59 +0000 live Shell delivers profits boost http://www.upstreamonline.com/live/1381893/Shell-delivers-profits-boost Shell boosted its earnings in the third quarter, despite lower output volumes and oil prices, as cost-cutting and asset sales benefited the Anglo-Dutch supermajor’s bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381893/Shell-delivers-profits-boost Thu, 30 Oct 2014 07:50:24 +0000 live Profits down for Technip http://www.upstreamonline.com/live/1381891/Profits-down-for-Technip French engineering giant Technip posted a fall in profits during the third quarter of the year as impairments and a higher income tax expense offset a rise in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381891/Profits-down-for-Technip Thu, 30 Oct 2014 06:53:23 +0000 live Mitra to merge with Petra http://www.upstreamonline.com/live/1381887/Mitra-to-merge-with-Petra Privately-owned Malaysian oil and gas independent Mitra Energy has entered into a definitive agreement to effect a reverse takeover of Canada’s Petra Petroleum. (Russell Searancke) http://www.upstreamonline.com/live/1381887/Mitra-to-merge-with-Petra Thu, 30 Oct 2014 04:45:59 +0000 live Suncor profits tumble http://www.upstreamonline.com/live/1381886/Suncor-profits-tumble Canada's Suncor Energy saw profits fall during the third quarter of the year as a drop in output was made worse by falling commodity prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381886/Suncor-profits-tumble Thu, 30 Oct 2014 04:33:03 +0000 live AWE posts revenue rise http://www.upstreamonline.com/live/1381884/AWE-posts-revenue-rise Australian company AWE saw revenues rise during the third quarter of the year on the back of a 6% output rise. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381884/AWE-posts-revenue-rise Thu, 30 Oct 2014 02:44:13 +0000 live Octanex teams up with Sabah player http://www.upstreamonline.com/live/1381883/Octanex-teams-up-with-Sabah-player Australia's Octanex has formed a strategic alliance with Malaysia's Sabah International Petroleum (SIP) in a deal that also see it receive funding from the Sabah state-owned company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381883/Octanex-teams-up-with-Sabah-player Thu, 30 Oct 2014 01:48:28 +0000 live Noble sees income slip http://www.upstreamonline.com/live/1381877/Noble-sees-income-slip Contract driller Noble Corporation reported lower third-quarter income but got a boost from a pair of new rigs that commenced operations during the period. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381877/Noble-sees-income-slip Wed, 29 Oct 2014 22:24:36 +0000 live Yucatan North appraisal success http://www.upstreamonline.com/live/1381866/Yucatan-North-appraisal-success The first appraisal well at the Shell-operated Yucatan North field discovered oil as explorers continue to prove up reserves in the so-called Shenandoah mini-basin of the deep-water US Gulf of Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381866/Yucatan-North-appraisal-success Wed, 29 Oct 2014 18:22:29 +0000 live Rosneft lashes ‘counter-sanctions’ report http://www.upstreamonline.com/live/1381862/Rosneft-lashes-‘counter-sanctions’-report Rosneft has threatened to sue a Russian business newspaper that claimed the oil giant had drawn up a list of measures to counter Western sanctions and sent it to the Kremlin. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381862/Rosneft-lashes-‘counter-sanctions’-report Wed, 29 Oct 2014 17:32:14 +0000 live Novatek profit dives in Q3 http://www.upstreamonline.com/live/1381854/Novatek-profit-dives-in-Q3 Russian independent Novatek has reported a two-thirds fall in net profit for the third quarter as a steep drop in the value of the rouble swallowed earnings. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381854/Novatek-profit-dives-in-Q3 Wed, 29 Oct 2014 15:47:50 +0000 live New Algerian round 'on radar' http://www.upstreamonline.com/live/1381836/New-Algerian-round-on-radar Algeria is preparing to launch a new licensing round “within weeks” after seeing a lacklustre response from foreign bidders to its latest acreage tender, according to a report. (News Wires) http://www.upstreamonline.com/live/1381836/New-Algerian-round-on-radar Wed, 29 Oct 2014 14:41:10 +0000 live Rosneft profit up on output hike http://www.upstreamonline.com/live/1381820/Rosneft-profit-up-on-output-hike Rosneft increased net profit in the first nine months of the year as rising production sent revenues soaring. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381820/Rosneft-profit-up-on-output-hike Wed, 29 Oct 2014 13:50:00 +0000 live Hess down but output rises http://www.upstreamonline.com/live/1381806/Hess-down-but-output-rises Falling oil prices and a higher depreciation bill sent adjusted net profit down at Hess. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381806/Hess-down-but-output-rises Wed, 29 Oct 2014 11:47:42 +0000 live CNOOC Ltd revenues drop http://www.upstreamonline.com/live/1381783/CNOOC-Ltd-revenues-drop CNOOC Ltd said oil and gas revenues slipped almost 5% in the third quarter as the average realised price of oil dropped and production remained steady. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381783/CNOOC-Ltd-revenues-drop Wed, 29 Oct 2014 08:59:49 +0000 live Petronas extends with BW floater http://www.upstreamonline.com/live/1381781/Petronas-extends-with-BW-floater Petronas Carigali has firmed up one of its contract extension options for a BW Offshore floating production, storage and offloading unit working at a development off Mauritania. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381781/Petronas-extends-with-BW-floater Wed, 29 Oct 2014 08:20:07 +0000 live Technip reels in Bangka award http://www.upstreamonline.com/live/1381780/Technip-reels-in-Bangka-award French engineering giant Technip has secured a ”substantial” contract to deliver subsea equipment and facilities for Chevron’s Bangka field development off East Kalimantan, Indonesia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381780/Technip-reels-in-Bangka-award Wed, 29 Oct 2014 08:02:22 +0000 live Total sees profits fall http://www.upstreamonline.com/live/1381779/Total-sees-profits-fall French supermajor Total saw profits slip in the third quarter of the year as falling prices and lower production hit the company's upstream segment. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381779/Total-sees-profits-fall Wed, 29 Oct 2014 07:27:08 +0000 live Statoil slides to loss http://www.upstreamonline.com/live/1381777/Statoil-slides-to-loss Norwegian giant Statoil slid to a loss during the September quarter as lower revenues and impairments hit the company's bottom line. Josh.Lewis@upstreamonline.com (Josh Lewis), Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381777/Statoil-slides-to-loss Wed, 29 Oct 2014 06:21:28 +0000 live Lower output hits Drillsearch's revenue http://www.upstreamonline.com/live/1381771/Lower-output-hits-Drillsearchs-revenue Australia's Drillsearch Energy posted a fall in revenue during the September quarter on the back of lower production and oil prices. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381771/Lower-output-hits-Drillsearchs-revenue Wed, 29 Oct 2014 02:46:56 +0000 live Anadarko sells Vito in $500m deal http://www.upstreamonline.com/live/1381760/Anadarko-sells-Vito-in-500m-deal Anadarko has struck a $500 million deal with an undisclosed buyer for its stake in the Shell-operated Vito project in the US deep-water Gulf of Mexico. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1381760/Anadarko-sells-Vito-in-500m-deal Tue, 28 Oct 2014 22:23:46 +0000 live Anadarko Q3 profits swell http://www.upstreamonline.com/live/1381756/Anadarko-Q3-profits-swell US independent Anadarko posted a steep boost in third-quarter profits after wrapping up asset sales including its China subsidiary valued at a combined $2.2 billion. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1381756/Anadarko-Q3-profits-swell Tue, 28 Oct 2014 20:57:27 +0000 live Saipem profit plunges in Q3 http://www.upstreamonline.com/live/1381723/Saipem-profit-plunges-in-Q3 Italy’s Saipem has reported a 24% drop year-on-year in net profit for the third quarter to €76 million ($96.85 million) on revenues up 1.9% to €3.5 billion. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381723/Saipem-profit-plunges-in-Q3 Tue, 28 Oct 2014 15:00:13 +0000 live FOE sinks on rig impairment http://www.upstreamonline.com/live/1381709/FOE-sinks-on-rig-impairment Soaring expenses and a large impairment on an idled unit sent Norwegian rig owner Fred Olsen Energy into the red in the third quarter. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381709/FOE-sinks-on-rig-impairment Tue, 28 Oct 2014 13:28:05 +0000 live Derivatives drive Noble Energy in Q3 http://www.upstreamonline.com/live/1381692/Derivatives-drive-Noble-Energy-in-Q3 Noble Energy had a large derivatives gain to thank for an increased net profit in the third quarter as revenues waned. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381692/Derivatives-drive-Noble-Energy-in-Q3 Tue, 28 Oct 2014 11:35:33 +0000 live Pacific Rubiales warns of output slip http://www.upstreamonline.com/live/1381686/Pacific-Rubiales-warns-of-output-slip Canada’s Pacific Rubiales has warned it expects both its overall net production and operating netbacks to fall for the third quarter. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381686/Pacific-Rubiales-warns-of-output-slip Tue, 28 Oct 2014 10:48:56 +0000 live Kleven scores Aker Wayfarer deal http://www.upstreamonline.com/live/1381684/Kleven-scores-Aker-Wayfarer-deal Norway’s Kleven shipyard group has revealed itself as the winner of a contract to convert an Aker Oilfield Services vessel into a deep-water subsea equipment support vessel. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381684/Kleven-scores-Aker-Wayfarer-deal Tue, 28 Oct 2014 10:45:46 +0000 live Hoidi nets jack-up legs deal http://www.upstreamonline.com/live/1381673/Hoidi-nets-jack-up-legs-deal Singapore’s Hoidi International has landed a contract from a Chinese yard to build the leg components for a pair of jack-up newbuilds. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381673/Hoidi-nets-jack-up-legs-deal Tue, 28 Oct 2014 08:34:34 +0000 live BG up despite output drop http://www.upstreamonline.com/live/1381671/BG-up-despite-output-drop BG Group has battled falling production to post a rise in profit in the third quarter. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381671/BG-up-despite-output-drop Tue, 28 Oct 2014 08:04:50 +0000 live BP sees Q3 profit slip http://www.upstreamonline.com/live/1381669/BP-sees-Q3-profit-slip UK supermajor BP saw profits fall during the third quarter of the year on the back of lower sales and production. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381669/BP-sees-Q3-profit-slip Tue, 28 Oct 2014 07:40:22 +0000 live Kvaerner in profits boost http://www.upstreamonline.com/live/1381668/Kvaerner-in-profits-boost Kvaerner boosted its net profit in the third quarter despite challenging market conditions for the Norwegian engineering and construction contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381668/Kvaerner-in-profits-boost Tue, 28 Oct 2014 07:12:19 +0000 live Lower oil prices hit Beach's revenues http://www.upstreamonline.com/live/1381644/Lower-oil-prices-hit-Beachs-revenues Australia's Beach Energy saw revenues fall over the first quarter of the financial year as lower oil prices offset a rise in sales. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381644/Lower-oil-prices-hit-Beachs-revenues Tue, 28 Oct 2014 01:20:34 +0000 live Chevron sells midstream assets for $800m http://www.upstreamonline.com/live/1381631/Chevron-sells-midstream-assets-for-800m Oklahoma-based OneOK Partners has agreed to buy natural gas liquids pipelines and related assets from supermajor Chevron for around $800 million. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381631/Chevron-sells-midstream-assets-for-800m Mon, 27 Oct 2014 22:00:17 +0000 live Sasol greenlights US ethane cracker http://www.upstreamonline.com/live/1381614/Sasol-greenlights-US-ethane-cracker South African player Sasol has given final approval to build an ethane cracker as part of a massive gas-to-liquids project in Lake Charles, Louisiana. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381614/Sasol-greenlights-US-ethane-cracker Mon, 27 Oct 2014 18:11:41 +0000 live Oil & gas jobs 'levelling off' in Q3 http://www.upstreamonline.com/live/1381592/Oil--gas-jobs-levelling-off-in-Q3 Oil and gas hiring decreased slightly during the third quarter but held onto most of the surge seen earlier in 2014, according to a regular analysis. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381592/Oil--gas-jobs-levelling-off-in-Q3 Mon, 27 Oct 2014 15:41:16 +0000 live Sabaro rattling at Noreco http://www.upstreamonline.com/live/1381599/Sabaro-rattling-at-Noreco Noreco’s dominant shareholder is now calling the shots in the boardroom after successfully ousting the sole director nominee of the Oslo-listed company’s second-ranked investor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381599/Sabaro-rattling-at-Noreco Mon, 27 Oct 2014 15:39:42 +0000 live Petrobras reacts to Lava Jato probe http://www.upstreamonline.com/live/1381588/Petrobras-reacts-to-Lava-Jato-probe Petrobras has hired a pair of independent investigative firms in its latest reaction to an on-going federal probe into allegations of bribery and organised crime at the Brazilian oil company. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381588/Petrobras-reacts-to-Lava-Jato-probe Mon, 27 Oct 2014 14:54:09 +0000 live Wintershall cashes VNG chips http://www.upstreamonline.com/live/1381574/Wintershall-cashes-VNG-chips Germany’s Wintershall has raked in €320 million ($406 million) after completing the sale of a stake in domestic gas supplier Verbundnetz Gas (VNG). Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381574/Wintershall-cashes-VNG-chips Mon, 27 Oct 2014 14:01:06 +0000 live Hess sells Hetco stake to Oaktree http://www.upstreamonline.com/live/1381573/Hess-sells-Hetco-stake-to-Oaktree Hess is selling its shareholding in an energy trading outfit to asset management firm Oaktree Capital Management. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381573/Hess-sells-Hetco-stake-to-Oaktree Mon, 27 Oct 2014 13:46:39 +0000 live Perpetual sells Alberta heavy oil assets http://www.upstreamonline.com/live/1381563/Perpetual-sells-Alberta-heavy-oil-assets Calgary-based explorer sheds some non-core acreage in eastern part of major oil province Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381563/Perpetual-sells-Alberta-heavy-oil-assets Mon, 27 Oct 2014 13:19:46 +0000 live Statoil 'cuts rate' for semisub http://www.upstreamonline.com/live/1381561/Statoil-cuts-rate-for-semisub Statoil appears to be cutting further its rig contract exposure by securing a reduced dayrate for the rest of the year for semi-submersible Transocean Spitsbergen, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381561/Statoil-cuts-rate-for-semisub Mon, 27 Oct 2014 13:11:02 +0000 live Carrizo in $250m Eagle Ford splash http://www.upstreamonline.com/live/1381554/Carrizo-in-250m-Eagle-Ford-splash Houston’s Carrizo Oil & Gas has acquired full ownership of certain operated assets in the Eagle Ford shale under a $250 million cash purchase from private player Eagle Ford Minerals. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381554/Carrizo-in-250m-Eagle-Ford-splash Mon, 27 Oct 2014 12:25:20 +0000 live Continental in Oklahoma shale JV http://www.upstreamonline.com/live/1381549/Continental-in-Oklahoma-shale-JV Continental Resources has sold down a large portion of its stake in a significant part of a US shale play to South Korea’s SK E&S. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381549/Continental-in-Oklahoma-shale-JV Mon, 27 Oct 2014 11:33:03 +0000 live BHP 'may sell Fayetteville assets' http://www.upstreamonline.com/live/1381543/BHP-may-sell-Fayetteville-assets BHP Billiton may look to offload some or all of its assets in the Fayetteville shale play in the US. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381543/BHP-may-sell-Fayetteville-assets Mon, 27 Oct 2014 10:56:17 +0000 live Cut-price rate for Maersk newbuild http://www.upstreamonline.com/live/1381540/Cut-price-rate-for-Maersk-newbuild Maersk Drilling has secured a short-term charter with Total for a third newbuild ultra-deepwater drillship that was delivered from a South Korean yard last month. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381540/Cut-price-rate-for-Maersk-newbuild Mon, 27 Oct 2014 10:26:42 +0000 live Bowleven advances Etinde deal http://www.upstreamonline.com/live/1381537/Bowleven-advances-Etinde-deal London-listed Bowleven has moved closer to sealing its $250 million Etinde farmout deal with Russia’s Lukoil and privately-owned New Age after the Cameroonian government approved the transaction. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381537/Bowleven-advances-Etinde-deal Mon, 27 Oct 2014 09:50:00 +0000 live Salamander in takeover talks http://www.upstreamonline.com/live/1381523/Salamander-in-takeover-talks Salamander Energy could become the subject of a bidding war after confirming it has received interest from two companies eyeing separate takeover deals for the UK company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381523/Salamander-in-takeover-talks Mon, 27 Oct 2014 09:03:00 +0000 live Money too tight for Interoil http://www.upstreamonline.com/live/1381530/Money-too-tight-for-Interoil Interoil has initiated a strategic review that could result in asset sales by year-end as it faces a cash squeeze that has forced it to postpone drilling of a key exploration well on its Colombian acreage. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381530/Money-too-tight-for-Interoil Mon, 27 Oct 2014 08:53:30 +0000 live Guvnor to cut Russian exposure http://www.upstreamonline.com/live/1381503/Guvnor-to-cut-Russian-exposure Oil trading house Gunvor is seeking to cut exposure to Russia by selling assets in the country which had long been one the main generators of its growth and profit before the US imposed sanctions on its co-founder. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381503/Guvnor-to-cut-Russian-exposure Mon, 27 Oct 2014 04:10:56 +0000 live Apollo snaps up Express Energy Services http://www.upstreamonline.com/live/article1381443.ece Private equity giant Apollo Global Management has snapped up privately held Express Energy Services. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/article1381443.ece Fri, 24 Oct 2014 16:29:00 +0000 live Pemex widens third-quarter loss http://www.upstreamonline.com/live/1381440/Pemex-widens-third-quarter-loss Pemex saw a sharp bite to results on falling crude prices, but executives maintained that projects in Mexico would continue to be attractive as the country opens its oil sector to private participation. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1381440/Pemex-widens-third-quarter-loss Fri, 24 Oct 2014 16:20:28 +0000 live Vaalco doubles up Angola commitment http://www.upstreamonline.com/live/1381441/Vaalco-doubles-up-Angola-commitment Africa-focused Vaalco Energy has agreed to drill at least two additional wells in Block 5 off Angola, a decision the Houston-based company took in order to ensure its rights to the concession do not expire next month. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381441/Vaalco-doubles-up-Angola-commitment Fri, 24 Oct 2014 16:19:10 +0000 live Sanctions 'not relevant' for RWE Dea deal http://www.upstreamonline.com/live/1381429/Sanctions-not-relevant-for-RWE-Dea-deal Norway’s oil minister has defended the authorities’ decision to allow RWE Dea to retain its licences off the country after its pending takeover by Russian tycoon Mikhail Fridman’s LetterOne group, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381429/Sanctions-not-relevant-for-RWE-Dea-deal Fri, 24 Oct 2014 14:28:27 +0000 live 'Swords drawn' at Noreco http://www.upstreamonline.com/live/1381404/Swords-drawn-at-Noreco The stage is reportedly set for a boardroom battle for control at Noreco as financial troubles mount at the cash-strapped Norwegian minnow. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381404/Swords-drawn-at-Noreco Fri, 24 Oct 2014 12:34:25 +0000 live De Beers order sparkles for Kleven http://www.upstreamonline.com/live/1381378/De-Beers-order-sparkles-for-Kleven Norwegian yard group Kleven has unearthed a gem of a contract from diamond giant De Beers to build a first-of-kind offshore vessel to hunt for underwater minerals. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381378/De-Beers-order-sparkles-for-Kleven Fri, 24 Oct 2014 11:07:58 +0000 live Statoil bags new Oz award http://www.upstreamonline.com/live/1381336/Statoil-bags-new-Oz-award Statoil is expanding its footprint in Australia after being awarded operatorship of a large exploration permit in the prolific Carnarvon basin on the country’s North West Shelf. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381336/Statoil-bags-new-Oz-award Fri, 24 Oct 2014 08:37:44 +0000 live Sechin: ‘Rosneft to press ahead in Arctic’ http://www.upstreamonline.com/live/1381333/Sechin-‘Rosneft-to-press-ahead-in-Arctic’ Rosneft chairman Igor Sechin has insisted the Russian oil giant will not quit its Arctic drilling operations despite sanctions from Western powers putting pressure on relationships with exploration partners, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381333/Sechin-‘Rosneft-to-press-ahead-in-Arctic’ Fri, 24 Oct 2014 08:23:29 +0000 live Ezra bags $70m in new work http://www.upstreamonline.com/live/1381200/Ezra-bags-70m-in-new-work The subsea services division of Ezra Holdings has landed several contracts in the US Gulf of Mexico and the Asia Pacific region worth a combined $70 million. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381200/Ezra-bags-70m-in-new-work Fri, 24 Oct 2014 02:10:14 +0000 live Ezra sees revenues rise http://www.upstreamonline.com/live/1381199/Ezra-sees-revenues-rise Singapore's Ezra Holdings saw profits fall over the recent financial year, however gross profits were up following an 18% rise in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381199/Ezra-sees-revenues-rise Fri, 24 Oct 2014 01:38:09 +0000 live Riverstone swoops for Proserv http://www.upstreamonline.com/live/1381193/Riverstone-swoops-for-Proserv Private equity player Riverstone Global Energy has signed a takeover deal with UK services player Proserv Group for an undisclosed sum, the financial company said. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1381193/Riverstone-swoops-for-Proserv Thu, 23 Oct 2014 23:07:04 +0000 live Llog makes new US Gulf discovery http://www.upstreamonline.com/live/1381172/Llog-makes-new-US-Gulf-discovery Privately held Llog Exploration has made another discovery at its Animal House-themed cluster of fields that will tie back to the Delta House semi-submersible production facility, which has been successfully installed in the deep-water Gulf of Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1381172/Llog-makes-new-US-Gulf-discovery Thu, 23 Oct 2014 19:33:50 +0000 live Norway contract 'fest before fall' http://www.upstreamonline.com/live/1381136/Norway-contract-fest-before-fall Norwegian contractors achieved record international turnover of Nkr206 billion ($31.3 billion) last year, driven largely by deliveries of equipment to Asian yards, but project cutbacks by operators are set to spoil the party, according to a new report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381136/Norway-contract-fest-before-fall Thu, 23 Oct 2014 14:46:36 +0000 live Reach grabs Eidesvik ROV job http://www.upstreamonline.com/live/1381105/Reach-grabs-Eidesvik-ROV-job Reach Subsea has secured a three-year deal with Eidesvik Offshore to provide remote-operated vehicle services for a newbuild subsea construction vessel. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381105/Reach-grabs-Eidesvik-ROV-job Thu, 23 Oct 2014 13:25:26 +0000 live Petrolia inks Anticosti development deal http://www.upstreamonline.com/live/1381093/Petrolia-inks-Anticosti-development-deal A joint venture operated by French-Canadian junior Petrolia has signed an agreement with domestic utility Gaz Metro covering development of natural gas resources on Quebec’s Anticosti Island. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381093/Petrolia-inks-Anticosti-development-deal Thu, 23 Oct 2014 12:56:55 +0000 live Hercules stacks units on weak markets http://www.upstreamonline.com/live/1381090/Hercules-stacks-units-on-weak-markets Weak markets, particularly in the US Gulf of Mexico and West Africa, are forcing Hercules Offshore to stack a number of rigs, booking an impairment in the process. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381090/Hercules-stacks-units-on-weak-markets Thu, 23 Oct 2014 12:27:18 +0000 live Earnings drop for Oxy http://www.upstreamonline.com/live/1381087/Earnings-drop-for-Oxy Falling oil prices offset a boost in crude output to severely dent third-quarter profits for US independent Occidental Petroleum. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381087/Earnings-drop-for-Oxy Thu, 23 Oct 2014 12:17:27 +0000 live Cameron aims for record profit http://www.upstreamonline.com/live/1381085/Cameron-aims-for-record-profit US contractor pushes for high full-year earnings as third quarter brings more revenues Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381085/Cameron-aims-for-record-profit Thu, 23 Oct 2014 12:09:48 +0000 live Revenue surges for Siem http://www.upstreamonline.com/live/1381082/Revenue-surges-for-Siem Siem Offshore boosted profit in the third quarter on higher revenue due to strong utilisation for a large part of its 44-vessel fleet. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381082/Revenue-surges-for-Siem Thu, 23 Oct 2014 12:00:31 +0000 live Husky Energy ramps up Q3 earnings http://www.upstreamonline.com/live/1381076/Husky-Energy-ramps-up-Q3-earnings Canada’s Husky Energy has raised net earnings by 11.5% to $571 million in the third quarter as higher upstream production and downstream throughput increased profits. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381076/Husky-Energy-ramps-up-Q3-earnings Thu, 23 Oct 2014 11:50:52 +0000 live Penn West in $316m asset sale http://www.upstreamonline.com/live/1381060/Penn-West-in-316m-asset-sale Penn West Petroleum is selling a number of non-core assets in Canada to a mystery company for around $316 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381060/Penn-West-in-316m-asset-sale Thu, 23 Oct 2014 10:58:23 +0000 live Cenovus profit slips 4% in Q3 http://www.upstreamonline.com/live/1381055/Cenovus-profit-slips-4-in-Q3 Canadian oil sands player Cenovus saw net profit slip by 4% to $354 million in the third quarter compared to the same period last year despite higher production as lower refining earnings and lower oil prices ate into increased cash flow. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1381055/Cenovus-profit-slips-4-in-Q3 Thu, 23 Oct 2014 10:45:25 +0000 live Hess takes Diamond newbuilds http://www.upstreamonline.com/live/1381052/Hess-takes-Diamond-newbuilds Diamond Offshore Drilling has won long-term rig charter contracts from US independent Hess for a pair of newbuild drillships. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381052/Hess-takes-Diamond-newbuilds Thu, 23 Oct 2014 10:29:49 +0000 live Safe Bristolia in for repairs http://www.upstreamonline.com/live/1381045/Safe-Bristolia-in-for-repairs Norway’s Bergen Group has secured repair work on Prosafe’s flotel Safe Bristolia after it was damaged in a storm. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381045/Safe-Bristolia-in-for-repairs Thu, 23 Oct 2014 09:20:14 +0000 live TGS steadies seismic ship http://www.upstreamonline.com/live/1381030/TGS-steadies-seismic-ship Norwegian seismic player TGS weathered a weaker market in the third quarter as it recorded only a slight drop in profit on relatively stable revenue, while also boosting its contract backlog. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381030/TGS-steadies-seismic-ship Thu, 23 Oct 2014 08:11:48 +0000 live Vnukovo airport CEO, deputy quit http://www.upstreamonline.com/live/1381025/Vnukovo-airport-CEO-deputy-quit The chief executive and deputy head of the Russian airport where Total chief executive Christophe de Margerie was killed in a plane crash earlier this week have resigned. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1381025/Vnukovo-airport-CEO-deputy-quit Thu, 23 Oct 2014 07:59:06 +0000 live Wartsila boosts order numbers http://www.upstreamonline.com/live/1381014/Wartsila-boosts-order-numbers Finland's Wartsila has increased its quarter-on-quarter order intake, as liquefied natural gas and liquefied petroleum gas carriers boosted the company’s marine sector. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1381014/Wartsila-boosts-order-numbers Thu, 23 Oct 2014 07:22:20 +0000 live Profits plunge for PGS http://www.upstreamonline.com/live/1381018/Profits-plunge-for-PGS Petroleum Geo-Services (PGS) saw its profits slashed in the third quarter as it suffered from a weak seismic market and vessel impairments, while it also faces higher costs on a pair of newbuilds. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1381018/Profits-plunge-for-PGS Thu, 23 Oct 2014 07:12:24 +0000 live Nordic wins with Noble http://www.upstreamonline.com/live/1381011/Nordic-wins-with-Noble Singapore’s Nordic Maritime has secured a US$70 million charter with international oil company, Noble Energy. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1381011/Nordic-wins-with-Noble Thu, 23 Oct 2014 04:20:39 +0000 live Weatherford post third quarter profit rise http://www.upstreamonline.com/live/1381009/Weatherford-post-third-quarter-profit-rise Service company Weatherford International posted a rise in profits during the third quarter as revenues rose 8%, compared to a year earlier. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1381009/Weatherford-post-third-quarter-profit-rise Thu, 23 Oct 2014 04:17:04 +0000 live Oil Search to refocus in PNG http://www.upstreamonline.com/live/1381006/Oil-Search-to-refocus-in-PNG Australia’s Oil Search is set to make a number of changes to its business plan as the result of a six-month strategic review of the company. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1381006/Oil-Search-to-refocus-in-PNG Thu, 23 Oct 2014 00:42:34 +0000 live Moody's cuts Petrobras rating http://www.upstreamonline.com/live/1380990/Moodys-cuts-Petrobras-rating Moody's has dropped its rating of Petrobras by another notch but has maintained the Brazilian state-led company's investment grade. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1380990/Moodys-cuts-Petrobras-rating Wed, 22 Oct 2014 16:46:53 +0000 live Rosneft ‘looks for more from wealth fund’ http://www.upstreamonline.com/live/1380980/Rosneft-‘looks-for-more-from-wealth-fund’ Rosneft is looking for more than $48 billion from Russia’s National Welfare Fund amid international sanctions against the company, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1380980/Rosneft-‘looks-for-more-from-wealth-fund’ Wed, 22 Oct 2014 15:58:19 +0000 live Total names CEO and chairman http://www.upstreamonline.com/live/1380931/Total-names-CEO-and-chairman Total's board of directors has named a new chief executive and new chairman in the wake of Monday's tragic death of former chief executive Christophe de Margerie. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1380931/Total-names-CEO-and-chairman Wed, 22 Oct 2014 11:15:33 +0000 live Profits surge for Havila http://www.upstreamonline.com/live/1380926/Profits-surge-for-Havila Havila Shipping saw its third-quarter operating profit surge 44% on the previous year on stronger earnings for the Oslo-listed offshore vessel owner’s fleet of anchor-handlers. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1380926/Profits-surge-for-Havila Wed, 22 Oct 2014 09:55:22 +0000 live Songa offloads rig liabilities http://www.upstreamonline.com/live/1380922/Songa-offloads-rig-liabilities Songa Offshore is cutting its financial liabilities on a loss-making rig sold earlier this year for which it has failed to find work after chartering it back from Singapore-based buyer Opus Offshore. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1380922/Songa-offloads-rig-liabilities Wed, 22 Oct 2014 09:16:56 +0000 live HitecVision raises Rocksource stake http://www.upstreamonline.com/live/1380912/HitecVision-raises-Rocksource-stake HitecVision has bumped up its newly acquired stake in cash-strapped Norwegian explorer Rocksource after picking up additional shares under its offer launched this week. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1380912/HitecVision-raises-Rocksource-stake Wed, 22 Oct 2014 08:24:34 +0000 live Norway 'licence to operate' for Fridman http://www.upstreamonline.com/live/1380906/Norway-licence-to-operate-for-Fridman Russian billionaire Mikhail Fridman’s outfit LetterOne reportedly has been given the official green light to act as an operator off Norway after its takeover of RWE Dea, which has a stake in the recent Alta discovery in the Barents Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1380906/Norway-licence-to-operate-for-Fridman Wed, 22 Oct 2014 07:36:24 +0000 live Senex maintains guidance http://www.upstreamonline.com/live/1380893/Senex-maintains-guidance Australia's Senex Energy saw revenues rise during during the first quarter of the financial year on the back of increased production. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1380893/Senex-maintains-guidance Wed, 22 Oct 2014 01:39:09 +0000 live BHP boosting production http://www.upstreamonline.com/live/1380892/BHP-boosting-production Anglo-Australian mining giant BHP Billiton has achieved a 9% production increase over the quarter, due in large part to a 7% increase from the company’s petroleum business. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1380892/BHP-boosting-production Wed, 22 Oct 2014 00:44:59 +0000 live Savanna lands Oz rig contracts http://www.upstreamonline.com/live/1380890/Savanna-lands-Oz-rig-contracts Canada's Savanna Energy Services has signed a contract which will see it provide four additional drilling rigs for an existing customer in the Australian state of Queensland. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1380890/Savanna-lands-Oz-rig-contracts Wed, 22 Oct 2014 00:05:15 +0000 live International results boost Nabors http://www.upstreamonline.com/live/1380880/International-results-boost-Nabors Drilling contractor Nabors Industries posted higher quarterly income thanks to improved results both in North America and internationally. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1380880/International-results-boost-Nabors Tue, 21 Oct 2014 22:42:28 +0000 live