www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Petrobras in China 'leasing deal' http://www.upstreamonline.com/live/1413906/petrobras-in-china-leasing-deal Brazil’s Petrobras has reportedly agreed a leasing deal for a pair of offshore facilities with a Chinese bank that will enable it to raise $2 billion in a move to find alternative financing sources. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413906/petrobras-in-china-leasing-deal Tue, 13 Oct 2015 13:27:52 +0000 live Flour, Korean duo land KNPC al-Zour deal http://www.upstreamonline.com/live/1413882/flour-korean-duo-land-knpc-al-zour-deal A joint venture comprising US contractor Fluor and two South Korean giants has been confirmed as the winning bidder for two refinery contracts from Kuwait National Petroleum Company (KNPC). Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413882/flour-korean-duo-land-knpc-al-zour-deal Tue, 13 Oct 2015 11:06:46 +0000 live IEA: ‘Oversupply to persist’ http://www.upstreamonline.com/incoming/1413865/iea-oversupply-to-persist Global demand growth is expected to slow down next year, as oil markets will remain oversupplied amid the recovery of Iranian exports once sanctions are lifted, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413865/iea-oversupply-to-persist Tue, 13 Oct 2015 09:35:20 +0000 ece_incoming MHWirth 'axes Norway jobs' http://www.upstreamonline.com/live/1413863/mhwirth-axes-norway-jobs Norwegian drilling services contractor MHWirth is reportedly axing 300 jobs in Norway in the latest round of redundancies at the unit of Akastor, backed by billionaire industrialist Kjell Inge Rokke’s Aker group. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413863/mhwirth-axes-norway-jobs Tue, 13 Oct 2015 09:27:17 +0000 live PKN Orlen to buy FX Energy http://www.upstreamonline.com/live/1413849/pkn-orlen-to-buy-fx-energy Polish player PKN Orlen is set to acquire FX Energy in one of a pair of acquisitions to further expand beyond its core refining business. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413849/pkn-orlen-to-buy-fx-energy Tue, 13 Oct 2015 08:24:09 +0000 live Iran approves nuclear deal http://www.upstreamonline.com/incoming/1413843/iran-approves-nuclear-deal Iran's parliament has voted in favour of a bill supporting the government’s nuclear deal with six world powers that would lift sanctions against the Middle East nation and pave the way for its implementation. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413843/iran-approves-nuclear-deal Tue, 13 Oct 2015 08:06:13 +0000 ece_incoming Noreco boss resigns http://www.upstreamonline.com/live/1413840/noreco-boss-resigns Noreco has announced its chief executive is stepping down from the role with immediate effect amid a strategic review at the struggling Norwegian independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413840/noreco-boss-resigns Tue, 13 Oct 2015 07:30:27 +0000 live Coastal seeking damages from rig builders http://www.upstreamonline.com/live/1413827/coastal-seeking-damages-from-rig-builders Malaysia's Coastal Contracts is seeking more than $5.6 million in damages from rig builders CIMC Raffles and Dynamic Driller over the late delivery of a jack-up. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413827/coastal-seeking-damages-from-rig-builders Tue, 13 Oct 2015 02:12:21 +0000 live NGE cutting costs http://www.upstreamonline.com/live/1413826/nge-cutting-costs Australia-listed New Guinea Energy (NGE) has been reducing costs and will target low risk investments as it aims to boost returns to shareholders. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413826/nge-cutting-costs Tue, 13 Oct 2015 01:13:00 +0000 live Vaalco in new Gabon spud http://www.upstreamonline.com/live/1413824/vaalco-in-new-gabon-spud US player Vaalco Energy has shifted around its drilling schedule off Gabon due to adverse sea conditions and is now drilling ahead at a prospect where it found recent success. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413824/vaalco-in-new-gabon-spud Mon, 12 Oct 2015 22:06:08 +0000 live Royale faces Nasdaq de-listing http://www.upstreamonline.com/live/1413821/royale-faces-nasdaq-de-listing The Nasdaq bourse in the US has notified California-based junior Royale Energy that the company is in danger of being de-listed for non-compliance with the exchange's qualification requirements. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413821/royale-faces-nasdaq-de-listing Mon, 12 Oct 2015 21:22:22 +0000 live Vroon to stack 12 support vessels http://www.upstreamonline.com/live/1413816/vroon-to-stack-12-support-vessels Netherlands-based Vroon Offshore Services said it will stack 12 offshore support vessels "as a direct result of the ongoing slump in offshore oil and gas activities". Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413816/vroon-to-stack-12-support-vessels Mon, 12 Oct 2015 19:35:34 +0000 live Magnum Hunter eyeing its alternatives http://www.upstreamonline.com/live/1413812/magnum-hunter-eyeing-its-alternatives Magnum Hunter Resources has cancelled dividends on certain classes of its preferred stock and hired an investment bank and a law firm to advise the company of its strategic alternatives as the Appalachian pure play struggles with low natural gas prices. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1413812/magnum-hunter-eyeing-its-alternatives Mon, 12 Oct 2015 17:51:44 +0000 live Santos to axe 200 East Australia jobs http://www.upstreamonline.com/live/1413811/santos-to-axe-200-east-australia-jobs Australian player Santos said Monday it plans to slash 200 positions from its workforce as it grapples with costs in a low oil price environment. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1413811/santos-to-axe-200-east-australia-jobs Mon, 12 Oct 2015 17:30:20 +0000 live OMV strikes gas in Pakistan http://www.upstreamonline.com/incoming/1413786/omv-strikes-gas-in-pakistan OMV has made a new gas discovery in the Latif block onshore Pakistan, the Austrian explorer said on Monday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413786/omv-strikes-gas-in-pakistan Mon, 12 Oct 2015 10:44:23 +0000 ece_incoming Eni gets new licences off Egypt http://www.upstreamonline.com/incoming/1413785/eni-gets-new-licences-off-egypt Eni has confirmed the award of two new exploration licences in the Mediterranean Sea off Egypt under this year’s acreage round. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413785/eni-gets-new-licences-off-egypt Mon, 12 Oct 2015 10:39:12 +0000 ece_incoming Ocean Installer in BP frame deal http://www.upstreamonline.com/live/1413780/ocean-installer-in-bp-frame-deal Ocean Installer has secured a framework agreement with BP to carry out subsea work in the Gulf of Mexico. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413780/ocean-installer-in-bp-frame-deal Mon, 12 Oct 2015 09:33:36 +0000 live Gazprom resumes Ukraine gas supplies http://www.upstreamonline.com/incoming/1413770/gazprom-resumes-ukraine-gas-supplies Gazprom has resumed gas supplies to Ukraine after receiving $234 million in advance payment from the country’s state-controlled gas player Naftogaz. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413770/gazprom-resumes-ukraine-gas-supplies Mon, 12 Oct 2015 09:04:39 +0000 ece_incoming LGO buys Beach Oilfield stake http://www.upstreamonline.com/incoming/1413767/lgo-buys-beach-oilfield-stake LGO Energy has acquired a 25% stake in Beach Oilfield (Bolt), with which it already holds an agreement to acquire the deep petroleum rights to all of the Trinidadian player’s South West Peninsula interests in Trinidad. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413767/lgo-buys-beach-oilfield-stake Mon, 12 Oct 2015 08:05:14 +0000 ece_incoming North Energy sells Barents stake http://www.upstreamonline.com/live/1413764/north-energy-sells-barents-stake North Energy has offloaded its stake in another Barents Sea licence off Norway in a further strategic asset sale by the cash-strapped Norwegian independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413764/north-energy-sells-barents-stake Mon, 12 Oct 2015 07:26:41 +0000 live Tethys asked to tap out of Tajikistan http://www.upstreamonline.com/live/1413763/tethys-asked-to-tap-out-of-tajikistan France's Total and state-run China National Petroleum Corporation (CNPC) have requested UK-listed company Tethys Petroleum withdraw from the Bokhtar production sharing contract in Tajikistan. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413763/tethys-asked-to-tap-out-of-tajikistan Mon, 12 Oct 2015 07:19:09 +0000 live Podcast: Icahn on the Prowl http://www.upstreamonline.com/live/1413745/podcast-icahn-on-the-prowl Listen to The Bit, Upstream's weekly podcast, where we look at Carl Icahn's possible impact on Freeport-McMoran and take stock of a more fiscally-minded Petrobras. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413745/podcast-icahn-on-the-prowl Mon, 12 Oct 2015 03:53:18 +0000 live Saka to seek $500m loan http://www.upstreamonline.com/live/1413737/saka-to-seek-usd-500m-loan A subsidiary of Indonesia's Perusahaan Gas Negara (PGN) is seeking a $500 million loan to help fund production plans for several blocks. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413737/saka-to-seek-usd-500m-loan Mon, 12 Oct 2015 03:37:15 +0000 live Clough buys Canadian EPC player http://www.upstreamonline.com/live/1413709/clough-buys-canadian-epc-player Australia's Clough has reached a deal to acquire privately-owned Canadian engineering company Enercore Projects in a C$10 million (US$7.7 million) deal. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413709/clough-buys-canadian-epc-player Mon, 12 Oct 2015 01:25:28 +0000 live Tethys in Tajikistan default http://www.upstreamonline.com/live/1413708/tethys-in-tajikistan-default UK-listed Tethys Petroleum has missed a cash call on its share of costs for the Bokhtar production sharing contract in Tajikistan. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413708/tethys-in-tajikistan-default Mon, 12 Oct 2015 01:03:12 +0000 live NOV cleared in discrimination case http://www.upstreamonline.com/live/1413699/nov-cleared-in-discrimination-case A Houston jury has cleared oilfield equipment maker National Oilwell Varco in a discrimination case filed by eight African-American employees, finding no wrongdoing on the part of the company. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413699/nov-cleared-in-discrimination-case Fri, 09 Oct 2015 19:32:35 +0000 live Petrobras aims to trim rig fleet http://www.upstreamonline.com/live/1413690/petrobras-aims-to-trim-rig-fleet Petrobras is closing in on a series of deals to reduce the size of its rig fleet in Brazil and secure discounted rates without provoking arbitration proceedings. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413690/petrobras-aims-to-trim-rig-fleet Fri, 09 Oct 2015 17:27:43 +0000 live EDrill-2 chartered for Zawtika http://www.upstreamonline.com/incoming/1413683/edrill-2-chartered-for-zawtika PTT Exploration & Production International (PTTEPI) has chartered Energy Drilling’s vessel, EDrill-2, for the Zawtika development drilling campaign, off Myanmar. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413683/edrill-2-chartered-for-zawtika Fri, 09 Oct 2015 14:51:31 +0000 ece_incoming Delek buys into Ithaca http://www.upstreamonline.com/incoming/1413656/delek-buys-into-ithaca Delek Group has acquired a $66 million stake in North Sea-focused Ithaca Energy, the companies said on Friday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413656/delek-buys-into-ithaca Fri, 09 Oct 2015 11:21:42 +0000 ece_incoming Ex-Aker engineer in 'legal action' http://www.upstreamonline.com/live/1413651/ex-aker-engineer-in-legal-action An Aker Solutions engineer who lost his job after being arrested on suspicion of terror-related activity is attempting to sue the Norwegian contractor for unfair dismissal, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413651/ex-aker-engineer-in-legal-action Fri, 09 Oct 2015 10:16:14 +0000 live Odfjell rig survey wrap http://www.upstreamonline.com/live/1413649/odfjell-rig-survey-wrap Odfjell Drilling has completed a special periodic survey on its 1983-built semi-submersible rig Deepsea Bergen on schedule and on budget, the Oslo-listed contractor said in a statement. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413649/odfjell-rig-survey-wrap Fri, 09 Oct 2015 09:46:30 +0000 live President sees Boqueron ‘promise’ http://www.upstreamonline.com/incoming/1413645/president-sees-boqueron-promise President Energy has seen “promising” seismic data results at its Boqueron prospect on the Hernandarias block in Paraguay, the London-listed player said on Friday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413645/president-sees-boqueron-promise Fri, 09 Oct 2015 08:23:34 +0000 ece_incoming Lundin exits Indonesia http://www.upstreamonline.com/live/1413641/lundin-exits-indonesia Swedish independent Lundin Petroleum has struck a deal to sell off its Indonesian assets to Jakarta-based Medco Energi. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413641/lundin-exits-indonesia Fri, 09 Oct 2015 07:26:49 +0000 live Petrofac cancels ZPMC order http://www.upstreamonline.com/live/1413640/petrofac-cancels-zpmc-order London-listed Petrofac has cancelled its contract with China's Shanghai Zhenhua Heavy Industry Company (ZPMC) for a newbuild deep-water pipelay vessel. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413640/petrofac-cancels-zpmc-order Fri, 09 Oct 2015 06:37:12 +0000 live Mosman finds new Step partner http://www.upstreamonline.com/live/1413638/mosman-finds-new-step-partner London-listed Mosman Oil & Gas has a new partner in three producing fields it is buying from Australia's Origin Energy in New Zealand's Taranaki basin after striking a new participation agreement following the exit of its previously announced partner. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413638/mosman-finds-new-step-partner Fri, 09 Oct 2015 04:02:55 +0000 live Landbridge considering improved Armour offer http://www.upstreamonline.com/live/1413635/landbridge-considering-improved-armour-offer China's Landbridge Group is considering upping its A$36.6 million (US$26.6 million) offer for Australian company Armour Energy. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413635/landbridge-considering-improved-armour-offer Fri, 09 Oct 2015 02:23:14 +0000 live Royale inks California farm-out http://www.upstreamonline.com/live/1413621/royale-inks-california-farm-out San Diego-based Royale Energy said it has reached a farm-out agreement with "a major independent" exploration and production company to develop 1300 acres in California. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413621/royale-inks-california-farm-out Thu, 08 Oct 2015 22:16:57 +0000 live McDermott scores Qatar EPCI win http://www.upstreamonline.com/live/1413600/mcdermott-scores-qatar-epci-win Qatar Petroleum has tapped US contractor McDermott International for a brownfield engineering, procurement, construction and installation (EPCI) project offshore Doha. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413600/mcdermott-scores-qatar-epci-win Thu, 08 Oct 2015 16:10:31 +0000 live Encana in $900m DJ sale http://www.upstreamonline.com/live/1413577/encana-in-usd-900m-dj-sale Encana has reached an agreement to sell its Denver Julesburg basin assets onshore US in a deal worth $900 million in the latest divestment by the Canadian player. (Anamaria Deduleasa) http://www.upstreamonline.com/live/1413577/encana-in-usd-900m-dj-sale Thu, 08 Oct 2015 12:07:01 +0000 live M&A slumps after ‘false start’ http://www.upstreamonline.com/incoming/1413559/manda-slumps-after-false-start Merger-and-acquisition (M&A) deal values in the third quarter hit their lowest in seven years with only tepid mega corporate deals announced after a “false start” in the latest three-month period, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413559/manda-slumps-after-false-start Thu, 08 Oct 2015 10:22:52 +0000 ece_incoming Eurasia chiefs plan buyout http://www.upstreamonline.com/incoming/1413544/eurasia-chiefs-plan-buyout Eurasia Drilling has received an offer for a potential merger from a group of its executives and shareholders who intend to take the company private after oil services giant Schlumberger backed out of a $1.7 billion deal with the Russian drilling company. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413544/eurasia-chiefs-plan-buyout Thu, 08 Oct 2015 08:07:20 +0000 ece_incoming Tullow in Gabon settlement http://www.upstreamonline.com/live/1413536/tullow-in-gabon-settlement UK player Tullow Oil has reached an agreement with the government of Gabon to regain its stake in the Onal field complex that was earlier expropriated by the authorities, while also gaining access to fresh exploration acreage. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413536/tullow-in-gabon-settlement Thu, 08 Oct 2015 06:57:23 +0000 live Statoil hands out Sverdrup jacket contracts http://www.upstreamonline.com/live/1413535/statoil-hands-out-sverdrup-jacket-contracts Norwegian operator Statoil has awarded contracts for the final two steel jackets for its Johan Sverdrup development in the North Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413535/statoil-hands-out-sverdrup-jacket-contracts Thu, 08 Oct 2015 06:14:31 +0000 live IOC wants flexible prices in LNG contracts http://www.upstreamonline.com/live/1413534/ioc-wants-flexible-prices-in-lng-contracts Indian Oil Company (IOC) had ruled out signing long-term price contracts with liquefied natural gas suppliers. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413534/ioc-wants-flexible-prices-in-lng-contracts Thu, 08 Oct 2015 04:32:18 +0000 live Clement to step down at AWE http://www.upstreamonline.com/live/1413532/clement-to-step-down-at-awe The managing director of Australian company AWE, Bruce Clement, will step down next year after five and half years in the top job. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413532/clement-to-step-down-at-awe Thu, 08 Oct 2015 03:44:08 +0000 live Central in talks to supply east coast gas http://www.upstreamonline.com/live/1413527/central-in-talks-to-supply-east-coast-gas Brisbane-based Central Petroleum is negotiating expressions of interest for potential gas sales agreements to supply gas to Australia's east coast as the Northern Territory government prepares to announce the successful tender for the North East Gas Interconnector (NEGI) pipeline. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413527/central-in-talks-to-supply-east-coast-gas Thu, 08 Oct 2015 02:07:34 +0000 live COS 'poison pill' plan awaits TSX OK http://www.upstreamonline.com/live/1413516/cos-poison-pill-plan-awaits-tsx-ok The Toronto Stock Exchange will defer acceptance of Canadian Oil Sands' new shareholders' rights plan until it can guarantee the support of Canada's securities commission. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413516/cos-poison-pill-plan-awaits-tsx-ok Wed, 07 Oct 2015 22:09:37 +0000 live Total workers quit over Angola pay drop http://www.upstreamonline.com/live/1413378/total-workers-quit-over-angola-pay-drop Total has seen a number of workers at its Angolan operations quit following contract renegotiations that are likely to have substantially cut their pay. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413378/total-workers-quit-over-angola-pay-drop Wed, 07 Oct 2015 16:22:09 +0000 live QGEP wins Sergipe-Alagoas blocks http://www.upstreamonline.com/live/1413377/qgep-wins-sergipe-alagoas-blocks Brazilian independent Queiroz Galvao Exploration & Production (QGEP) bid the minimum and won the exploration rights for two deep-water blocks in the Sergipe-Alagoas basin during Brazil's 13th oil and gas licensing round on Wednesday. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413377/qgep-wins-sergipe-alagoas-blocks Wed, 07 Oct 2015 16:03:58 +0000 live Icahn gets two Freeport-McMoRan seats http://www.upstreamonline.com/incoming/1413354/icahn-gets-two-freeport-mcmoran-seats Freeport-McMoRan has appointed two directors proposed by Carl Icahn to its board after the activist investor acquired a significant stake in the US mining and oil & gas conglomerate. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413354/icahn-gets-two-freeport-mcmoran-seats Wed, 07 Oct 2015 15:12:15 +0000 ece_incoming OneSubsea in Norway 'staff cuts' http://www.upstreamonline.com/live/1413346/onesubsea-in-norway-staff-cuts OneSubsea is being forced to axe as many as 200 jobs in Norway – nearly a quarter of its local workforce – as work as dropped off for the subsea services contractor due to an industry slump, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413346/onesubsea-in-norway-staff-cuts Wed, 07 Oct 2015 14:02:43 +0000 live Oil bosses ‘to meet in Paris’ http://www.upstreamonline.com/incoming/1413344/oil-bosses-to-meet-in-paris The leaders of eight major oil companies will reportedly meet in Paris next week to discuss ways of combating climate change. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413344/oil-bosses-to-meet-in-paris Wed, 07 Oct 2015 13:57:30 +0000 ece_incoming RSP gets more Midland acreage http://www.upstreamonline.com/incoming/1413279/rsp-gets-more-midland-acreage US independent RSP Permian is planning to add more acreage to its core Midland basin operating area in Texas through a $137 million acquisition. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413279/rsp-gets-more-midland-acreage Wed, 07 Oct 2015 11:19:50 +0000 ece_incoming Petrogrand, Shelton in Russia-focused merger http://www.upstreamonline.com/incoming/1413263/petrogrand-shelton-in-russia-focused-merger Stockholm-listed juniors Petrogrand and Shelton Petroleum have agreed to bunch their Russian assets together, as the duo plans to dissolve the cross-ownership between them. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413263/petrogrand-shelton-in-russia-focused-merger Wed, 07 Oct 2015 08:31:21 +0000 ece_incoming LetterOne eyes 'Norway asset deal' http://www.upstreamonline.com/live/1413256/letterone-eyes-norway-asset-deal LetterOne Group, the investment vehicle led by Russian billionaire Mikhail Fridman, is reportedly in talks to acquire the Norwegian field assets of Germany’s E.ON E&P, with a deal expected to be sealed within days. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413256/letterone-eyes-norway-asset-deal Wed, 07 Oct 2015 07:24:57 +0000 live Tethys takeover back off the table http://www.upstreamonline.com/live/1413254/tethys-takeover-back-off-the-table Nostrum Oil & Gas has seen its proposed takeover of fellow London-listed company Tethys Petroleum again fall through after the latter's major shareholder indicated it would not support the deal. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413254/tethys-takeover-back-off-the-table Wed, 07 Oct 2015 06:58:55 +0000 live Wood Group wins Kazakh contract http://www.upstreamonline.com/live/1413252/wood-group-wins-kazakh-contract Automation solution contract handed out for the Tengiz field Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413252/wood-group-wins-kazakh-contract Wed, 07 Oct 2015 06:26:50 +0000 live Landbridge offer 'undervalues' Armour http://www.upstreamonline.com/live/1413248/landbridge-offer-undervalues-armour Company receives independent report which claims takeover offer is below true value of the company's shares Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413248/landbridge-offer-undervalues-armour Wed, 07 Oct 2015 02:58:55 +0000 live Shareholder slams Vaalco's board http://www.upstreamonline.com/live/1413242/shareholder-slams-vaalcos-board The new owner of more than a tenth of Vaalco Energy's outstanding shares has aired a laundry list of complaints against the company's board in a letter describing what the activist investment group calls "significant shareholder value destruction". Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413242/shareholder-slams-vaalcos-board Tue, 06 Oct 2015 21:34:50 +0000 live Petrolia gets Haldimand 4 go-ahead http://www.upstreamonline.com/incoming/1413216/petrolia-gets-haldimand-4-go-ahead Petrolia has obtained a completion permit for its Haldimand 4 well in Quebec, which will allow it to carry out the cleaning of the well and start long-term production testing. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413216/petrolia-gets-haldimand-4-go-ahead Tue, 06 Oct 2015 13:59:26 +0000 ece_incoming Nigerian oilman Omokore ‘arrested’ http://www.upstreamonline.com/live/1413206/nigerian-oilman-omokore-arrested Jide Omokore, co-chairman of Nigerian independent Atlantic Energy, has reportedly been arrested to be quizzed over corruption and money laundering charges. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413206/nigerian-oilman-omokore-arrested Tue, 06 Oct 2015 12:52:34 +0000 live FCX seeks 'alternatives' for O&G http://www.upstreamonline.com/live/1413193/fcx-seeks-alternatives-for-oandg Freeport-McMoRan is mulling "strategic alternatives" for its ailing oil & gas wing as the US commodities player looks to concentrate on copper mining. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413193/fcx-seeks-alternatives-for-oandg Tue, 06 Oct 2015 12:20:17 +0000 live Shell plans for ‘lower for longer’ oil price http://www.upstreamonline.com/incoming/1413184/shell-plans-for-lower-for-longer-oil-price Companies can thrive in a “lower for longer” oil price environment if they are willing to pull out “all the stops”, while also balancing growing demand with the need to make a transition to a cleaner energy future, according to Shell’s chief executive Ben van Beurden. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413184/shell-plans-for-lower-for-longer-oil-price Tue, 06 Oct 2015 12:07:33 +0000 ece_incoming Fugro nets $13m Pemex extension http://www.upstreamonline.com/live/1413182/fugro-nets-usd-13m-pemex-extension Survey player Fugro has landed a $13 million extension to a contract from Pemex to conduct survey work off Mexico. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413182/fugro-nets-usd-13m-pemex-extension Tue, 06 Oct 2015 11:45:01 +0000 live Penn Virginia in $13m Texas acreage sale http://www.upstreamonline.com/live/1413170/penn-virginia-in-usd-13m-texas-acreage-sale US player Penn Virginia has sold off some of its non-core producing assets in south Texas to a mystery buyer in a deal worth $13 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413170/penn-virginia-in-usd-13m-texas-acreage-sale Tue, 06 Oct 2015 11:08:40 +0000 live SBM denies reaching Brazil deal http://www.upstreamonline.com/live/1413168/sbm-denies-reaching-brazil-deal SBM Offshore has denied that it has already reached a settlement with Brazilian authorities that will let it participate in floater tenders for state giant Petrobras. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413168/sbm-denies-reaching-brazil-deal Tue, 06 Oct 2015 10:59:56 +0000 live Europa looking to gain and shop assets http://www.upstreamonline.com/incoming/1413163/europa-looking-to-gain-and-shop-assets Europa Oil & Gas is looking to expand its strategic position in Ireland as the London-listed player submitted “multiple” applications in this year’s Atlantic Margin licensing round. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413163/europa-looking-to-gain-and-shop-assets Tue, 06 Oct 2015 10:49:35 +0000 ece_incoming GC Rieber throws Dolphin a lifeline http://www.upstreamonline.com/live/1413143/gc-rieber-throws-dolphin-a-lifeline Loss-making seismic player Dolphin Geophysical has secured revised terms for vessel charter deals with GC Rieber Shipping to cut its costs as it faces sinking revenue on reduced work due to a market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413143/gc-rieber-throws-dolphin-a-lifeline Tue, 06 Oct 2015 07:57:16 +0000 live Aramco ‘eyes CNPC assets’ http://www.upstreamonline.com/live/1413141/aramco-eyes-cnpc-assets Saudi Aramco is in talks to snap up downstream assets from China National Petroleum Corporation (CNPC) in a deal that may be worth up to $1.5 billion, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413141/aramco-eyes-cnpc-assets Tue, 06 Oct 2015 07:27:19 +0000 live President sitting pretty on Pirity http://www.upstreamonline.com/live/1413136/president-sitting-pretty-on-pirity President Energy has bought out its sole partner in the Pirity concession onshore Paraguay to give it full control of the block. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413136/president-sitting-pretty-on-pirity Tue, 06 Oct 2015 07:02:35 +0000 live Wood Group chief to retire http://www.upstreamonline.com/live/1413134/wood-group-chief-to-retire Wood Group chief executive Bob Keiller will step down at the end of the year, with the company revealing his replacement has already been selected. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413134/wood-group-chief-to-retire Tue, 06 Oct 2015 06:32:10 +0000 live Perisai pushes back jack-up delivery http://www.upstreamonline.com/live/1413132/perisai-pushes-back-jack-up-delivery Malaysia's Perisai Petroleum Teknologi has reached a deal to defer to the delivery of its latest jack-up drilling rig from Semcorp Marine subsidiary PPL Shipyard. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413132/perisai-pushes-back-jack-up-delivery Tue, 06 Oct 2015 03:14:55 +0000 live Civmec wins LNG work http://www.upstreamonline.com/live/1413128/civmec-wins-lng-work Engineering company Civmec has landed two contracts to provide refractory services on liquefied natural gas projects in Australia. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1413128/civmec-wins-lng-work Tue, 06 Oct 2015 00:47:58 +0000 live Petrobras slashes investment plan http://www.upstreamonline.com/live/1413127/petrobras-slashes-investment-plan Petrobras has slashed its investments planned for 2015 and 2016 due to the impact of lower oil prices and a weakened Brazilian currency. (Gareth Chetwynd) http://www.upstreamonline.com/live/1413127/petrobras-slashes-investment-plan Mon, 05 Oct 2015 23:44:53 +0000 live COS 'to reject' Suncor bid http://www.upstreamonline.com/live/1413122/cos-to-reject-suncor-bid Canadian Oil Sands (COS) will reportedly reject Suncor Energy's C$4.3 billion (US$3.29 billion) hostile takeover bid. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413122/cos-to-reject-suncor-bid Mon, 05 Oct 2015 21:04:11 +0000 live Sanchez inks Catarina midstream JV http://www.upstreamonline.com/live/1413117/sanchez-inks-catarina-midstream-jv Sanchez Energy has signed a joint venture with Targa Resources Partners to build a new cryogenic natural gas processing plant and gathering system at the US shale operator's Catarina field in the Eagle Ford play. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413117/sanchez-inks-catarina-midstream-jv Mon, 05 Oct 2015 18:24:53 +0000 live Five Eurasia directors resign http://www.upstreamonline.com/live/1413089/five-eurasia-directors-resign Eurasia Drilling said that five directors have resigned from the board, almost immediately after a deal to sell a large stake in the company to Schlumberger officially fell through. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1413089/five-eurasia-directors-resign Mon, 05 Oct 2015 17:02:32 +0000 live Subsea 7 'sheds Norway staff' http://www.upstreamonline.com/live/1413049/subsea-7-sheds-norway-staff Subsea 7 is set to make another 70 staff redundant in Norway to reduce its offshore workforce by 37% as a result of a slump in activity, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413049/subsea-7-sheds-norway-staff Mon, 05 Oct 2015 14:37:54 +0000 live US unveils $20.8bn Macondo spill resolution http://www.upstreamonline.com/incoming/1413044/us-unveils-usd-208bn-macondo-spill-resolution The US Department of Justice (DoJ) and other agencies have detailed the a $20.8 billion resolution of federal and state claims against supermajor BP following the 2010 Gulf of Mexico oil spill. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1413044/us-unveils-usd-208bn-macondo-spill-resolution Mon, 05 Oct 2015 14:22:32 +0000 ece_incoming Suncor in COS takeover bid http://www.upstreamonline.com/live/1413035/suncor-in-cos-takeover-bid Calgary-based independent Suncor Energy has launched a C$4.3 billion ($3.29 billion) hostile takeover bid for compatriot Canadian Oil Sands (COS) as it seeks to expand its position in the country’s oil sands sector. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1413035/suncor-in-cos-takeover-bid Mon, 05 Oct 2015 13:34:48 +0000 live Ex-Petrobras CEO Dutra dies http://www.upstreamonline.com/live/1413027/ex-petrobras-ceo-dutra-dies Jose Eduardo Dutra, a former Petrobras chief executive and Worker's Party (PT) president, died on Sunday at the age of 58 after losing a battle with cancer. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413027/ex-petrobras-ceo-dutra-dies Mon, 05 Oct 2015 13:21:14 +0000 live Willbros in $130m business wing sale http://www.upstreamonline.com/live/1413023/willbros-in-usd-130m-business-wing-sale Services player Willbros Group has sold its professional services business segment to US outfit TRC Companies in an all-cash deal worth $130 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1413023/willbros-in-usd-130m-business-wing-sale Mon, 05 Oct 2015 11:28:57 +0000 live MX to bid in Mexican onshore round http://www.upstreamonline.com/incoming/1412994/mx-to-bid-in-mexican-onshore-round London-listed MX Oil and its joint venture partner, Mexican service provider Geo Estratos, have submitted bids in the ongoing inaugural onshore licensing round in Mexico. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1412994/mx-to-bid-in-mexican-onshore-round Mon, 05 Oct 2015 08:28:14 +0000 ece_incoming San Leon to spud in Poland http://www.upstreamonline.com/incoming/1412991/san-leon-to-spud-in-poland San Leon Energy will spud a new development well on its Rawicz field in Poland’s southern Permian basin, the Irish junior said on Monday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1412991/san-leon-to-spud-in-poland Mon, 05 Oct 2015 07:41:22 +0000 ece_incoming Ithaca cuts capex, eyes Stella first oil http://www.upstreamonline.com/live/1412990/ithaca-cuts-capex-eyes-stella-first-oil Ithaca Energy has chopped its full-year capital expenditure as it cut subsea installation costs and sold off its Norwegian assets. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1412990/ithaca-cuts-capex-eyes-stella-first-oil Mon, 05 Oct 2015 07:28:41 +0000 live Woodside has no plans to up Oil Search offer http://www.upstreamonline.com/live/1412986/woodside-has-no-plans-to-up-oil-search-offer Woodside Petroleum does not want to raise its A$11.6 billion ($8.2 billion) offer for Oil Search Ltd because it would hurt his shareholders, according to chief executive Peter Coleman. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1412986/woodside-has-no-plans-to-up-oil-search-offer Mon, 05 Oct 2015 05:06:56 +0000 live Hess agrees to take jack-up from Petronas http://www.upstreamonline.com/live/1412985/hess-agrees-to-take-jack-up-from-petronas The majority owned subsidiary of Malaysia's Perisai Petroleum Teknologi, Perisai Offshore, has brokered a deal with state-run Petronas and US independent Hess over the use of its jack-up Perisai Pacific 101. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1412985/hess-agrees-to-take-jack-up-from-petronas Mon, 05 Oct 2015 04:08:01 +0000 live Magma raises $60m for expansion plans http://www.upstreamonline.com/live/1412981/magma-raises-usd-60m-for-expansion-plans UK technology company Magma Global has raised $60 million from strategic capital investment partners and existing investors to help fund its growth plans. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1412981/magma-raises-usd-60m-for-expansion-plans Mon, 05 Oct 2015 00:53:37 +0000 live Debt-laden Miller files for bankruptcy http://www.upstreamonline.com/live/1412964/debt-laden-miller-files-for-bankruptcy Alaska-focused Miller Energy Resources has filed for Chapter 11 bankruptcy protection in the US as it looks to reorganise following fraud charges and ballooning debt. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1412964/debt-laden-miller-files-for-bankruptcy Fri, 02 Oct 2015 18:50:36 +0000 live Repsol confirms job losses http://www.upstreamonline.com/live/1412943/repsol-confirms-job-losses Repsol has confirmed that hundreds of jobs are to be axed as part of the Spanish player’s cost-cutting measures over the next three years. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1412943/repsol-confirms-job-losses Fri, 02 Oct 2015 13:50:33 +0000 live Siem vessels terminated http://www.upstreamonline.com/live/1412914/siem-vessels-terminated Siem Offshore has agreed with Brazil’s Petrobras on early termination of contractors for a trio of vessels. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1412914/siem-vessels-terminated Fri, 02 Oct 2015 08:48:51 +0000 live UK ‘missing North Sea collaboration’ chances http://www.upstreamonline.com/incoming/1412857/uk-missing-north-sea-collaboration-chances Companies are missing out on maximising the potential value from the UK continental shelf (UKCS) due to a lack of effective supply chain collaboration, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1412857/uk-missing-north-sea-collaboration-chances Fri, 02 Oct 2015 08:10:25 +0000 ece_incoming Farstad in five lay-ups http://www.upstreamonline.com/live/1412907/farstad-in-five-lay-ups Farstad Shipping is being forced to lay up a further five vessels off Norway as the Oslo-listed shipowner feels the fallout of a North Sea market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1412907/farstad-in-five-lay-ups Fri, 02 Oct 2015 08:01:39 +0000 live Lundin spuds Malaysian well http://www.upstreamonline.com/incoming/1412903/lundin-spuds-malaysian-well Lundin Petroleum has resumed drilling on its Bertam oilfield off Malaysia with the spud of the Mengkuang-1 well. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1412903/lundin-spuds-malaysian-well Fri, 02 Oct 2015 07:46:50 +0000 ece_incoming EMGS agrees new vessel terms http://www.upstreamonline.com/live/1412890/emgs-agrees-new-vessel-terms Oslo-listed Electromagnetic Geoservices (EMGS) has struck new terms for vessels currently under charter from BOA Offshore. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1412890/emgs-agrees-new-vessel-terms Fri, 02 Oct 2015 07:05:00 +0000 live Technip wins Stones subsea gig http://www.upstreamonline.com/live/1412885/technip-wins-stones-subsea-gig French engineering company Technip has landed another contract on Shell's Stones project in the Gulf of Mexico. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1412885/technip-wins-stones-subsea-gig Fri, 02 Oct 2015 05:39:45 +0000 live Repsol to cut 1500 jobs http://www.upstreamonline.com/live/1412873/repsol-to-cut-1500-jobs Spanish giant Repsol will eliminate 1500 jobs in a cost-cutting move following its multi-billion-dollar takeover of Canada's Talisman Energy. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1412873/repsol-to-cut-1500-jobs Thu, 01 Oct 2015 22:45:50 +0000 live Chesapeake keeps $4bn revolver http://www.upstreamonline.com/live/1412870/chesapeake-keeps-usd-4bn-revolver Chesapeake Energy has reached a deal with its lenders that will keep its revolving credit facility unchanged at $4 billion but amends some of the terms of its credit facility. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1412870/chesapeake-keeps-usd-4bn-revolver Thu, 01 Oct 2015 18:52:59 +0000 live Kosmos gets Atwood Achiever rate drop http://www.upstreamonline.com/live/1412855/kosmos-gets-atwood-achiever-rate-drop Kosmos Energy has driven down the dayrate for an Atwood Oceanics drillship it has on long-term charter, currently off north-west Africa. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1412855/kosmos-gets-atwood-achiever-rate-drop Thu, 01 Oct 2015 12:26:38 +0000 live Statoil in new energies Uni pact http://www.upstreamonline.com/live/1412852/statoil-in-new-energies-uni-pact Norwegian state player Statoil is pumping funds into researching alternative energy solutions in a collaboration deal with a compatriot university. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1412852/statoil-in-new-energies-uni-pact Thu, 01 Oct 2015 11:57:18 +0000 live