www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Saipem extends vessel deal http://www.upstreamonline.com/live/1395708/saipem-extends-vessel-deal Solstad Offshore has secured a contract extension from Saipem for its construction vessel Normand Cutter. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395708/saipem-extends-vessel-deal Fri, 27 Mar 2015 10:36:56 +0000 live CNOOC Ltd boosts profit http://www.upstreamonline.com/live/1395705/cnooc-ltd-boosts-profit CNOOC Limited managed to raise profit last year despite a cut in revenues as production increased and costs dropped. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395705/cnooc-ltd-boosts-profit Fri, 27 Mar 2015 10:10:41 +0000 live Chevron in Caltex Australia sale http://www.upstreamonline.com/incoming/1395704/chevron-in-caltex-australia-sale US oil giant Chevron has entered into an underwriting agreement for the sale of its 50% shareholding in Caltex Australia. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395704/chevron-in-caltex-australia-sale Fri, 27 Mar 2015 09:49:26 +0000 ece_incoming PA seeks ‘re-organisation’ http://www.upstreamonline.com/incoming/1395699/pa-seeks-re-organisation Stockholm-based PA Resources has filed for corporate re-organisation due to the lack of progress in its negotiations with creditors. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395699/pa-seeks-re-organisation Fri, 27 Mar 2015 08:56:41 +0000 ece_incoming Petrobras appoints new chairman http://www.upstreamonline.com/live/1395690/petrobras-appoints-new-chairman Brazilian state-run oil company Petrobras has appointed a new chairman following Guido Mantega's resignation from the role. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395690/petrobras-appoints-new-chairman Fri, 27 Mar 2015 03:10:09 +0000 live Shetland Gas Plant worker dies http://www.upstreamonline.com/live/1395567/shetland-gas-plant-worker-dies A 61-year-old worker at the new Shetland Gas Plant (SGP) has died after being taken ill. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395567/shetland-gas-plant-worker-dies Thu, 26 Mar 2015 14:39:46 +0000 live Trio wins $2bn Freeport LNG deal http://www.upstreamonline.com/live/1395584/trio-wins-usd-2bn-freeport-lng-deal Engineering heavyweights CB&I, Chiyoda and Zachry Industrial have been awarded a contract in excess of $2 billion for a liquefied natural gas train at Freeport LNG off Texas. (Anamaria Deduleasa) http://www.upstreamonline.com/live/1395584/trio-wins-usd-2bn-freeport-lng-deal Thu, 26 Mar 2015 13:14:43 +0000 live M&P chops capex as profit sinks http://www.upstreamonline.com/live/1395579/mandp-chops-capex-as-profit-sinks Maurel & Prom has slashed its exploration budget for this year as it saw profit sink on reduced sales and higher write-offs in 2014. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395579/mandp-chops-capex-as-profit-sinks Thu, 26 Mar 2015 12:32:51 +0000 live EMGS in $4m data licensing deal http://www.upstreamonline.com/incoming/1395544/emgs-in-usd-4m-data-licensing-deal Oslo-listed survey contractor Electromagnetic Geoservices (EMGS) has entered into two new licensing agreements for the provision of 3D electromagnetic (EM) data in the Barents Sea off Norway. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395544/emgs-in-usd-4m-data-licensing-deal Thu, 26 Mar 2015 11:14:27 +0000 ece_incoming PetroChina profit down http://www.upstreamonline.com/incoming/1395540/petrochina-profit-down PetroChina saw its net profit decrease last year as a result of falling oil prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395540/petrochina-profit-down Thu, 26 Mar 2015 11:09:21 +0000 ece_incoming Shell axes North Sea jobs http://www.upstreamonline.com/live/1395530/shell-axes-north-sea-jobs Shell is cutting "at least" 250 jobs from its North Sea operations as the Anglo-Dutch supermajor re-adjusts to a low oil price environment. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395530/shell-axes-north-sea-jobs Thu, 26 Mar 2015 10:31:34 +0000 live Seplat sees profits halved http://www.upstreamonline.com/incoming/1395527/seplat-sees-profits-halved Seplat Petroleum Development saw its profits more than halved in 2014 as it was hit by falling oil prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395527/seplat-sees-profits-halved Thu, 26 Mar 2015 09:52:24 +0000 ece_incoming Sterling in Romania exit http://www.upstreamonline.com/live/1395522/sterling-in-romania-exit Canadian player Sterling Resources has struck a $42.5 million deal to sell its assets off Romania in a fund-raising move to refocus resources on its UK operations – and the cash-strapped company itself could also be a sale candidate. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395522/sterling-in-romania-exit Thu, 26 Mar 2015 09:11:06 +0000 live Amec Foster Wheeler profit drops http://www.upstreamonline.com/live/1395518/amec-foster-wheeler-profit-drops Amec Foster Wheeler saw net profit drop last year as revenues in the oil & gas business unit fell off by 13%. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395518/amec-foster-wheeler-profit-drops Thu, 26 Mar 2015 08:25:30 +0000 live Genel in $230m bond placement http://www.upstreamonline.com/live/1395514/genel-in-usd-230m-bond-placement London-listed Genel Energy has completed the private placement of $230 million senior unsecured bonds. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395514/genel-in-usd-230m-bond-placement Thu, 26 Mar 2015 07:21:10 +0000 live Tiger sets out for sea trial http://www.upstreamonline.com/live/1395513/tiger-sets-out-for-sea-trial Shanghai Shipyard has started sea trial for Chinas' first drillship Opus Tiger-1 built for Singapore--based rig player Opus Offshore, marking a new milestone for the rig building industry. (Xu Yihe) http://www.upstreamonline.com/live/1395513/tiger-sets-out-for-sea-trial Thu, 26 Mar 2015 06:24:37 +0000 live Swiber wins $405.6m in new contracts http://www.upstreamonline.com/live/1395510/swiber-wins-usd-4056m-in-new-contracts Singapore-based service provider Swiber has landed US$405.6 million in new contracts. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395510/swiber-wins-usd-4056m-in-new-contracts Thu, 26 Mar 2015 04:08:09 +0000 live Shell in $1.7bn Nigeria sale http://www.upstreamonline.com/incoming/1395295/shell-in-usd-17bn-nigeria-sale Shell has completed the sale of its 30% interest in oil mining lease (OML) 29 and the Nembe Creek Trunk Line (NCTL), as well as related facilities in the eastern Niger Delta. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395295/shell-in-usd-17bn-nigeria-sale Wed, 25 Mar 2015 14:14:57 +0000 ece_incoming Petrobras approves governance project http://www.upstreamonline.com/live/1395283/petrobras-approves-governance-project Petrobras has approved a project to revise its corporate governance and management rules as the Brazilian state oil giant looks to unravel large-scale alleged historical corruption. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395283/petrobras-approves-governance-project Wed, 25 Mar 2015 13:28:28 +0000 live Shell win for IKM http://www.upstreamonline.com/live/1395289/shell-win-for-ikm Norwegian contractor IKM Subsea has been awarded a contract worth up to Nkr150 million ($19 million) with Shell to provide inspection, maintenance and repair, and ROV services off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395289/shell-win-for-ikm Wed, 25 Mar 2015 13:26:11 +0000 live DOF job off Australia http://www.upstreamonline.com/live/1395285/dof-job-off-australia Norwegian offshore vessel owner DOF has secured a charter with Chevron for use of an anchor-handler off Australia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395285/dof-job-off-australia Wed, 25 Mar 2015 13:06:16 +0000 live Yokogawa Kontrol in Petronas PFLNG2 win http://www.upstreamonline.com/incoming/1395279/yokogawa-kontrol-in-petronas-pflng2-win Yokogawa Kontrol has won an order to supply Petronas's second floating liquefied natural gas facility, PFLNG2, with control and safety instrumented systems. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395279/yokogawa-kontrol-in-petronas-pflng2-win Wed, 25 Mar 2015 11:56:11 +0000 ece_incoming Etinde charge for Bowleven http://www.upstreamonline.com/live/1395274/etinde-charge-for-bowleven London-listed Bowleven saw its share price sink after suffering losses on an impairment of exploration potential in the Etinde area off Cameroon, despite raking in cash from a recent farm-out that leaves it well-funded for future development of the asset. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395274/etinde-charge-for-bowleven Wed, 25 Mar 2015 10:43:18 +0000 live Connacher reduces capex by 70% http://www.upstreamonline.com/incoming/1395272/connacher-reduces-capex-by-70-percent Connacher Oil & Gas has slashed its capital expenditure by 70% as it ran up a loss in weak market conditions. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395272/connacher-reduces-capex-by-70-percent Wed, 25 Mar 2015 10:20:21 +0000 ece_incoming Nostrum sees profit drop http://www.upstreamonline.com/incoming/1395268/nostrum-sees-profit-drop Nostrum Oil & Gas saw its profit drop in 2014 as the price of oil plunged in the second half of the year and its output dropped. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395268/nostrum-sees-profit-drop Wed, 25 Mar 2015 08:59:57 +0000 ece_incoming Rosneft ditches jack-up deal http://www.upstreamonline.com/live/1395264/rosneft-ditches-jack-up-deal Rosneft has decided to cancel a contract with North Atlantic Drilling Ltd (NADL) for use of a jack-up drilling rig that was due to work in Russian Arctic waters, according to an affiliate of the Seadrill-owned rig contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395264/rosneft-ditches-jack-up-deal Wed, 25 Mar 2015 08:41:33 +0000 live Alam to buy OSV from Wellspring http://www.upstreamonline.com/live/1395257/alam-to-buy-osv-from-wellspring Malaysia's Alam Maritim Resources has signed a memorandum of understanding with Wellspring Marine Trading for the purchase of an offshore support vessel. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395257/alam-to-buy-osv-from-wellspring Wed, 25 Mar 2015 06:25:42 +0000 live C&J completes Nabors merger http://www.upstreamonline.com/live/1395246/candj-completes-nabors-merger US pressure pumper C&J Energy Services has closed its deal to merge with the pressure pumping unit of Nabors Industries. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1395246/candj-completes-nabors-merger Wed, 25 Mar 2015 01:17:57 +0000 live UGL gets GLNG work http://www.upstreamonline.com/live/1395245/ugl-gets-glng-work Service provider UGL has landed a contract for the operations phase of the Santos-operated Gladstone liquefied natural gas (GLNG) project in the Australian state of Queensland. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395245/ugl-gets-glng-work Wed, 25 Mar 2015 01:07:55 +0000 live Cliq Energy to buy Kazakhstan oilfields http://www.upstreamonline.com/incoming/1395217/cliq-energy-to-buy-kazakhstan-oilfields Malaysia-based Cliq Energy is buying two producing oilfields in Kazakhstan from Phsytech in a deal worth $117.3 million. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395217/cliq-energy-to-buy-kazakhstan-oilfields Tue, 24 Mar 2015 12:32:36 +0000 ece_incoming PA postpones payments http://www.upstreamonline.com/incoming/1395215/pa-postpones-payments Stockholm-based PA Resources has requested a further deferral of interest payments and waivers of financial covenants, as it continues to seek a refinancing solution. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395215/pa-postpones-payments Tue, 24 Mar 2015 11:39:40 +0000 ece_incoming Red ink for Faroe http://www.upstreamonline.com/live/1395212/red-ink-for-faroe Faroe Petroleum slumped to a loss last year as it was clobbered by heavy impairments on field assets, largely due to lower oil prices, as well as exploration write-offs. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395212/red-ink-for-faroe Tue, 24 Mar 2015 11:38:08 +0000 live Linn hunts buys with $1bn war chest http://www.upstreamonline.com/live/1395208/linn-hunts-buys-with-usd-1bn-war-chest Linn Energy is looking to snap up oil and gas acquisitions as it gets a huge investment from a private equity partner. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395208/linn-hunts-buys-with-usd-1bn-war-chest Tue, 24 Mar 2015 11:09:42 +0000 live Delay for Songa Equinox http://www.upstreamonline.com/live/1395200/delay-for-songa-equinox Songa Offshore faces a further slight delay to delivery of the first of a quartet of newbuild Category D semi-submersibles from South Korean yard Daewoo Shipbuilding & Marine Engineering. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395200/delay-for-songa-equinox Tue, 24 Mar 2015 10:10:32 +0000 live Statoil names Opedal COO http://www.upstreamonline.com/live/1395183/statoil-names-opedal-coo Statoil has opened up a new management position of chief operating officer and recruited from within its ranks. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395183/statoil-names-opedal-coo Tue, 24 Mar 2015 08:10:30 +0000 live GMS posts record profit http://www.upstreamonline.com/live/1395184/gms-posts-record-profit Self-propelled self-elevating support vessel provider Gulf Marine Services (GMS) saw profits rise in 2014 as revenues hit a record high. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395184/gms-posts-record-profit Tue, 24 Mar 2015 08:05:03 +0000 live SapuraKencana posts rise in profits http://www.upstreamonline.com/live/1395180/sapurakencana-posts-rise-in-profits Malaysia's SapuraKencana Petroleum saw profits rise over the recent financial year on the back of increased revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395180/sapurakencana-posts-rise-in-profits Tue, 24 Mar 2015 06:50:27 +0000 live Impairments to hit Inpex's profits http://www.upstreamonline.com/live/1395172/impairments-to-hit-inpexs-profits Japanese independent Inpex said it has revised down its forecast net profit for the year ended 31 March 2015 after recognising impairment charges on the Joslyn oil sands project in Canada and the Kitan oilfield off Timor-Leste. (Russell Searancke) http://www.upstreamonline.com/live/1395172/impairments-to-hit-inpexs-profits Tue, 24 Mar 2015 03:08:11 +0000 live NZOG increases interest in Cue http://www.upstreamonline.com/live/1395170/nzog-increases-interest-in-cue New Zealand Oil & Gas (NZOG) has further increased its interest in fellow Australia-listed company Cue Energy Resources following its A$69.8 million (US$54.8 million) takeover offer last month. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395170/nzog-increases-interest-in-cue Tue, 24 Mar 2015 01:31:18 +0000 live Det Norske: 'No, minister' http://www.upstreamonline.com/live/1395143/det-norske-no-minister The chairman of Det Norske Oljeselskap has called into question an explanation by Norway’s oil minister on the process leading up to a proposed unitisation pact on the Johan Sverdrup field. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395143/det-norske-no-minister Mon, 23 Mar 2015 15:51:04 +0000 live Galp readies CEO change http://www.upstreamonline.com/live/1395121/galp-readies-ceo-change Carlos Gomes da Silva, head of gas and power at Portuguese player Galp Energia, is set to take over as chief executive. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395121/galp-readies-ceo-change Mon, 23 Mar 2015 12:49:16 +0000 live PetroChina ex-energy executive Wang charged http://www.upstreamonline.com/incoming/1395119/petrochina-ex-energy-executive-wang-charged China has charged another former senior energy executive with bribery and abuse of power, as the country continues its fight against corruption. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395119/petrochina-ex-energy-executive-wang-charged Mon, 23 Mar 2015 12:27:43 +0000 ece_incoming Noreco risks Danish licence loss http://www.upstreamonline.com/live/1395102/noreco-risks-danish-licence-loss Norwegian independent Noreco risks forfeiting its stake in the Nini oilfield off Denmark and other assets after failing to make payments for operational costs due to a cash squeeze. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1395102/noreco-risks-danish-licence-loss Mon, 23 Mar 2015 10:38:26 +0000 live Asco wins $149m BP contract http://www.upstreamonline.com/incoming/1395098/asco-wins-usd-149m-bp-contract Aberdeen-based service company Asco has been awarded a £100 million ($149 million) contract by BP to support the supermajor’s operations in the UK North Sea. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395098/asco-wins-usd-149m-bp-contract Mon, 23 Mar 2015 10:14:16 +0000 ece_incoming Petrobras halts P-58 FPSO http://www.upstreamonline.com/incoming/1395093/petrobras-halts-p-58-fpso Brazil's state-run Petrobras on Friday shut down its P-58 floating production, storage and offloading, in the Espirito Santo basin. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1395093/petrobras-halts-p-58-fpso Mon, 23 Mar 2015 09:29:32 +0000 ece_incoming Afren notifies fraud authorities http://www.upstreamonline.com/live/1395078/afren-notifies-fraud-authorities Afren has passed information onto the UK’s Serious Fraud Office after an investigation into alleged malpractice involving a previous employee revealed concerns. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1395078/afren-notifies-fraud-authorities Mon, 23 Mar 2015 08:37:52 +0000 live Oil price sinks Sinopec profits http://www.upstreamonline.com/live/1395076/oil-price-sinks-sinopec-profits China's state-run Sinopec saw profits tumble last year as lower oil prices off set increased output. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395076/oil-price-sinks-sinopec-profits Mon, 23 Mar 2015 07:22:41 +0000 live Technip, FMC in subsea tie-up http://www.upstreamonline.com/live/1395065/technip-fmc-in-subsea-tie-up French engineering company Technip and US service provider FMC Technologies have teamed up to create a joint venture targeting the subsea sector. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395065/technip-fmc-in-subsea-tie-up Mon, 23 Mar 2015 02:19:36 +0000 live Manora partner in default http://www.upstreamonline.com/live/1395046/manora-partner-in-default Northern Gulf Petroleum (NGP) is in default under the terms of the joint operating agreement covering the offshore Manora oilfield development in the Gulf of Thailand Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1395046/manora-partner-in-default Mon, 23 Mar 2015 01:29:07 +0000 live Southwestern sells conventional assets http://www.upstreamonline.com/live/1395029/southwestern-sells-conventional-assets Houston-based gas producer Southwestern Energy has agreed to sell conventional oil and gas assets in East Texas and the Arkoma basin that will be used to help finance the company's purchase last year of properties in the Appalachian basin. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1395029/southwestern-sells-conventional-assets Fri, 20 Mar 2015 22:34:15 +0000 live Whitecap buys Beaumont for $466m http://www.upstreamonline.com/live/1394987/whitecap-buys-beaumont-for-usd-466m Calgary-based Whitecap Resources has agreed to buy privately held light-oil producer Beaumont Energy in a deal worth about C$587.5 million (US$466 million). Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394987/whitecap-buys-beaumont-for-usd-466m Fri, 20 Mar 2015 15:28:43 +0000 live Shell in $737m Nigeria block sale http://www.upstreamonline.com/incoming/1394946/shell-in-usd-737m-nigeria-block-sale Shell, Total and Eni have, as anticipated, sold their stakes in a Nigerian block in the eastern Niger Delta to Eroton Exploration & Production. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394946/shell-in-usd-737m-nigeria-block-sale Fri, 20 Mar 2015 09:09:22 +0000 ece_incoming Gulfsands eyes asset sales http://www.upstreamonline.com/live/1394942/gulfsands-eyes-asset-sales Gulfsands Petroleum is looking to sell off its assets in Tunisia and Colombia to fund exploitation of its gas discoveries in Morocco, where it is also seeking to delay exploration work commitments. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394942/gulfsands-eyes-asset-sales Fri, 20 Mar 2015 09:02:12 +0000 live Tullow eases financing pressure http://www.upstreamonline.com/live/1394937/tullow-eases-financing-pressure Shares in Tullow Oil rose on Friday morning after the Anglo-Irish independent reached financing deals to stave off the risk of covenant breaches. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394937/tullow-eases-financing-pressure Fri, 20 Mar 2015 08:26:59 +0000 live IOG gains UK gas find http://www.upstreamonline.com/live/1394938/iog-gains-uk-gas-find London-listed Independent Oil & Gas (IOG) has secured an extension of a recently awarded UK licence to encompass the Hambleton gas discovery. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394938/iog-gains-uk-gas-find Fri, 20 Mar 2015 08:18:29 +0000 live Engevix ‘to sell some Brazil assets http://www.upstreamonline.com/incoming/1394906/engevix-to-sell-some-brazil-assets Engevix Engenharia is in the process of selling assets to pay off its debt, after being implicated in the Petrobras corruption scandal in Brazil, report said. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394906/engevix-to-sell-some-brazil-assets Thu, 19 Mar 2015 17:14:49 +0000 ece_incoming Southwestern in $500m gas assets sale http://www.upstreamonline.com/incoming/1394896/southwestern-in-usd-500m-gas-assets-sale Huston-based player Southwestern Energy has sold some midstream gas assets in Pennsylvania to Howard Energy Partners. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394896/southwestern-in-usd-500m-gas-assets-sale Thu, 19 Mar 2015 15:22:04 +0000 ece_incoming Siem does the splits http://www.upstreamonline.com/live/1394895/siem-does-the-splits Siem Offshore is revamping its organisational structure to strengthen its focus on the offshore support vessel business. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394895/siem-does-the-splits Thu, 19 Mar 2015 15:14:43 +0000 live Wintershall weaker on oil price drop http://www.upstreamonline.com/live/1394849/wintershall-weaker-on-oil-price-drop Wintershall posted a drop in profit last year despite a rise in output but is looking for a significant production hike in the next four years. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394849/wintershall-weaker-on-oil-price-drop Thu, 19 Mar 2015 11:43:51 +0000 live EnQuest production up, profits down http://www.upstreamonline.com/incoming/1394848/enquest-production-up-profits-down EnQuest posted a net loss last year despite a hike in production, as the London-listed player also booked a sizeable amount in impairments. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394848/enquest-production-up-profits-down Thu, 19 Mar 2015 10:59:15 +0000 ece_incoming Statoil 'eyes Russia wells' http://www.upstreamonline.com/live/1394847/statoil-eyes-russia-wells Statoil is reportedly pressing ahead with plans to drill four exploration wells in Russia with state-owned partner Rosneft despite Western sanctions on the Kremlin over the Ukraine crisis. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394847/statoil-eyes-russia-wells Thu, 19 Mar 2015 10:40:03 +0000 live Pedersen moves on from Aibel http://www.upstreamonline.com/incoming/1394842/pedersen-moves-on-from-aibel Kjell Pedersen has resigned from his position as chairman of Norwegian fabricator Aibel. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394842/pedersen-moves-on-from-aibel Thu, 19 Mar 2015 09:08:17 +0000 ece_incoming Lamprell boosts profit http://www.upstreamonline.com/live/1394839/lamprell-boosts-profit Middle East shipyard Lamprell posted a rise in profit last year as a cut in costs added to bumper revenues. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394839/lamprell-boosts-profit Thu, 19 Mar 2015 08:55:43 +0000 live DNO in big capex cut http://www.upstreamonline.com/live/1394838/dno-in-big-capex-cut DNO is slashing its capital expenditure by about two thirds this year, as well as cutting jobs, as the Norwegian player tightens its belt amid low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394838/dno-in-big-capex-cut Thu, 19 Mar 2015 08:42:50 +0000 live Ophir books profit on farm-out http://www.upstreamonline.com/live/1394837/ophir-books-profit-on-farm-out London-listed Ophir Energy saw its results tip into the black thanks to a one-off gain from the farm-out of three of its blocks in Tanzania. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394837/ophir-books-profit-on-farm-out Thu, 19 Mar 2015 08:30:24 +0000 live A loan in 'perfect storm' http://www.upstreamonline.com/live/1394831/a-loan-in-perfect-storm The days of easy money are definitely over for offshore rig and vessel contractors as lenders tighten the purse strings in response to an industry downturn that threatens to trigger a rash of bankruptcies, according to Norwegian bank DNB. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394831/a-loan-in-perfect-storm Thu, 19 Mar 2015 07:27:29 +0000 live Talisman lays off up to 200 http://www.upstreamonline.com/live/1394668/talisman-lays-off-up-to-200 Talisman Energy will lay off between 150 and 200 employees and contractors, the bulk of which are to come from its head office operations in Calgary. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394668/talisman-lays-off-up-to-200 Wed, 18 Mar 2015 15:13:55 +0000 live Mubadala gains Morocco acreage http://www.upstreamonline.com/incoming/1394640/mubadala-gains-morocco-acreage Mubadala Petroleum has signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (Onhym) to explore in the country’s waters. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394640/mubadala-gains-morocco-acreage Wed, 18 Mar 2015 12:08:53 +0000 ece_incoming ExxonMobil ‘asks Russia for money back’ http://www.upstreamonline.com/incoming/1394627/exxonmobil-asks-russia-for-money-back ExxonMobil has asked the Russian government to reimburse taxes "overpaid" on a project in the far east of the country, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394627/exxonmobil-asks-russia-for-money-back Wed, 18 Mar 2015 09:55:50 +0000 ece_incoming InterOil to demobilise Antelope rig http://www.upstreamonline.com/sectors/companynews/1394617/interoil-to-demobilise-antelope-rig InterOil has confirmed the drilling rig that caused it problems during the Antelope-4 operation in Papua New Guinea will be demobilised once it completes the well. (Russell Searancke) http://www.upstreamonline.com/sectors/companynews/1394617/interoil-to-demobilise-antelope-rig Wed, 18 Mar 2015 03:35:28 +0000 sectors sectors_companynews SBM to co-operate in Petrobras probe http://www.upstreamonline.com/live/1394616/sbm-to-co-operate-in-petrobras-probe Dutch floater specialist SBM Offshore has agreed to co-operate with Brazilian authorities investigating the corruption scandal that has rocked national oil company Petrobras. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394616/sbm-to-co-operate-in-petrobras-probe Wed, 18 Mar 2015 02:39:32 +0000 live Dragon plays with takeover bid http://www.upstreamonline.com/live/1394612/dragon-plays-with-takeover-bid Turkmenistan-focused Dragon Oil has been approached by its biggest shareholder, Emirates National Oil Company, to buy up the company shares it does not already own. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394612/dragon-plays-with-takeover-bid Tue, 17 Mar 2015 21:37:20 +0000 live Nexen to lay off 400 staff http://www.upstreamonline.com/live/1394608/nexen-to-lay-off-400-staff Alberta-based Nexen Energy said it plans to lay off about 400 people in North America and the UK to stave off the effects of declining global commodity pricing. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394608/nexen-to-lay-off-400-staff Tue, 17 Mar 2015 19:44:26 +0000 live Questions over fate of Ensco 8500s http://www.upstreamonline.com/live/1394607/questions-over-fate-of-ensco-8500s After another uneventful fleet status report, some analysts are wondering what the future holds for Ensco's 8500 series of semi-submersible drilling rigs. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394607/questions-over-fate-of-ensco-8500s Tue, 17 Mar 2015 19:29:15 +0000 live Liao quits PetroChina amid probe http://www.upstreamonline.com/live/1394584/liao-quits-petrochina-amid-probe Liao Yongyuan, a general manager of China National Petroleum Corporation who has been placed under investigation over alleged corruption, has resigned from related company PetroChina. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394584/liao-quits-petrochina-amid-probe Tue, 17 Mar 2015 14:12:38 +0000 live ConocoPhillips cuts capex http://www.upstreamonline.com/live/1394583/conocophillips-cuts-capex ConocoPhillips has reduced its annual capital expenditure for the next three years, as the cut in major project spending continued and it said it will spend more on development drilling. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394583/conocophillips-cuts-capex Tue, 17 Mar 2015 13:48:10 +0000 live InterOil turns it around http://www.upstreamonline.com/incoming/1394576/interoil-turns-it-around InterOil swung back into the black last year after the Papua New Guinea (PNG)-focused player completed the sale of some assets. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394576/interoil-turns-it-around Tue, 17 Mar 2015 12:04:34 +0000 ece_incoming Archer in action at Heimdal http://www.upstreamonline.com/live/1394574/archer-in-action-at-heimdal Archer has finally kicked off plug-and-abandonment work on Statoil’s Heimdal field off Norway using its second newbuild modular drilling rig installed on the North Sea field’s platform. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394574/archer-in-action-at-heimdal Tue, 17 Mar 2015 11:32:31 +0000 live Shell in Denmark sale moves http://www.upstreamonline.com/live/1394572/shell-in-denmark-sale-moves Shell has slapped a ‘For Sale’ sign on its Fredericia refinery in Denmark as it also reached a deal to sell its downstream marketing operations in the North Sea nation. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394572/shell-in-denmark-sale-moves Tue, 17 Mar 2015 11:29:28 +0000 live Aker bags Sverdrup concept study http://www.upstreamonline.com/live/1394559/aker-bags-sverdrup-concept-study Aker Solutions has secured a further coveted deal to carry out a concept study for future phases of the Johan Sverdrup field development off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394559/aker-bags-sverdrup-concept-study Tue, 17 Mar 2015 09:33:17 +0000 live Vaalco waffles on Etame H2S plan http://www.upstreamonline.com/live/1394542/vaalco-waffles-on-etame-h2s-plan Africa-focused Vaalco Energy is re-assessing plans to build a crude-sweetening facility at a field off Gabon stricken with hydrogen sulphide and warned that if it does not get built it could result in a significant reduction in reserves. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394542/vaalco-waffles-on-etame-h2s-plan Mon, 16 Mar 2015 22:57:06 +0000 live Lukoil Overseas more than doubles oil output http://www.upstreamonline.com/live/1394528/lukoil-overseas-more-than-doubles-oil-output Russia's Lukoil Overseas more than doubled its oil production in 2014 as a major project in Iraq was brought online. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394528/lukoil-overseas-more-than-doubles-oil-output Mon, 16 Mar 2015 17:06:16 +0000 live LB Foster buys Inspection Oilfield Services http://www.upstreamonline.com/live/1394524/lb-foster-buys-inspection-oilfield-services Pennsylvania-based manufacturer LB Foster has agreed to buy privately held Inspection Oilfield Services (IOS), a Houston-based company that provides non-destructive testing and inspection services for tubular products. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394524/lb-foster-buys-inspection-oilfield-services Mon, 16 Mar 2015 16:39:29 +0000 live Petrobras in Papa Terra start-up http://www.upstreamonline.com/live/1394519/petrobras-in-papa-terra-start-up Oil giant Petrobras has started production from its P-61 platform in the Papa Terra field in the southern tip of Brazil’s Campos basin. (Anamaria Deduleasa) http://www.upstreamonline.com/live/1394519/petrobras-in-papa-terra-start-up Mon, 16 Mar 2015 16:08:23 +0000 live CNPC manager 'in corruption probe' http://www.upstreamonline.com/live/1394506/cnpc-manager-in-corruption-probe China has put Liao Yongyuan, general manager of China National Petroleum Corporation, under investigation for alleged corruption, according to state media reports. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394506/cnpc-manager-in-corruption-probe Mon, 16 Mar 2015 13:33:59 +0000 live Tidewater gets $46m Venezuela payback http://www.upstreamonline.com/incoming/1394489/tidewater-gets-usd-46m-venezuela-payback A World Bank tribunal has ordered Venezuela to pay oil service company Tidewater around $46.4 million in compensation for the expropriation of Tidewater's business and ships from 2009. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394489/tidewater-gets-usd-46m-venezuela-payback Mon, 16 Mar 2015 10:34:13 +0000 ece_incoming Eni saddles up in Egypt http://www.upstreamonline.com/live/1394485/eni-saddles-up-in-egypt Eni is set to plough investment of $5 billion into development of upstream projects in Egypt under a newly signed heads of agreement with the Cairo government. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394485/eni-saddles-up-in-egypt Mon, 16 Mar 2015 10:09:59 +0000 live Former Sonatrach execs on trial http://www.upstreamonline.com/live/1394484/former-sonatrach-execs-on-trial A group of top former Algerian state oil company officials including an ex-chief executive went on trial on Sunday for corruption in a scandal involving foreign suppliers. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394484/former-sonatrach-execs-on-trial Mon, 16 Mar 2015 09:17:25 +0000 live Matrix lands $32.2m buoyancy orders http://www.upstreamonline.com/live/1394479/matrix-lands-usd-322m-buoyancy-orders Australia-listed Matrix Composites & Engineering has secured deep-water drilling buoyancy orders worth a combined US$32.2 million. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394479/matrix-lands-usd-322m-buoyancy-orders Mon, 16 Mar 2015 08:41:09 +0000 live ABB wins $155m Sverdrup power deal http://www.upstreamonline.com/live/1394471/abb-wins-usd-155m-sverdrup-power-deal Swiss technology giant ABB has won a $155 million contract from Norway’s Statoil to power the first phase of development of the vast Johan Sverdrup North Sea oilfield development. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1394471/abb-wins-usd-155m-sverdrup-power-deal Mon, 16 Mar 2015 08:31:08 +0000 live NZOG increases Cue stake http://www.upstreamonline.com/live/1394463/nzog-increases-cue-stake New Zealand Oil & Gas (NZOG) has increased its interest in Australian junior Cue Energy Resources following the launch of its A$69.8 million (US$53.4 million) takeover offer last month. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394463/nzog-increases-cue-stake Mon, 16 Mar 2015 04:36:04 +0000 live Elk, Metgasco merger falls through http://www.upstreamonline.com/live/1394461/elk-metgasco-merger-falls-through Deal off the table as low oil prices cause trouble raising financing Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1394461/elk-metgasco-merger-falls-through Mon, 16 Mar 2015 03:27:15 +0000 live Statoil 'eyes major shale buys' http://www.upstreamonline.com/live/1394410/statoil-eyes-major-shale-buys Norwegian giant Statoil has been linked to large potential acquisitions in the US unconventionals sector, with reported interest in buying two different major producers. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1394410/statoil-eyes-major-shale-buys Fri, 13 Mar 2015 22:19:07 +0000 live Consol Energy revises budget http://www.upstreamonline.com/live/1394392/consol-energy-revises-budget Pittsburgh-based Consol Energy forecasts a 2015 E&P capital expenditure (capex) of $920 million, excluding business development, permitting, and land acquisitions. (Anamaria Deduleasa) http://www.upstreamonline.com/live/1394392/consol-energy-revises-budget Fri, 13 Mar 2015 16:35:13 +0000 live Novatek axes deputy chief http://www.upstreamonline.com/live/1394391/novatek-axes-deputy-chief Novatek has axed first deputy chairman and commercial director Mikhail Popov from the Russian producer’s management board. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1394391/novatek-axes-deputy-chief Fri, 13 Mar 2015 16:23:03 +0000 live Eni portfolio under the knife http://www.upstreamonline.com/live/1394389/eni-portfolio-under-the-knife Eni aims to sell off assets worth €8 billion ($8.42 billion) over the next four years while also cutting investment and slashing costs to boost its profitability in a lower oil price environment. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394389/eni-portfolio-under-the-knife Fri, 13 Mar 2015 15:28:57 +0000 live Statoil's new facility services supplier http://www.upstreamonline.com/incoming/1394374/statoils-new-facility-services-supplier Norwegian state owned Statoil has awarded to Coor Services Management the contract for its offshore facility management services on the Statfjord and Snorre fields in the North Sea. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394374/statoils-new-facility-services-supplier Fri, 13 Mar 2015 14:15:39 +0000 ece_incoming Petoro targets mature assets http://www.upstreamonline.com/live/1394369/petoro-targets-mature-assets Norway’s state oil holding company Petoro is urging more investment to boost exploitation of mature fields as greenfield projects are put on hold amid low oil prices that have hit returns from state-held offshore assets. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1394369/petoro-targets-mature-assets Fri, 13 Mar 2015 13:32:01 +0000 live ‘More price uncertainty,’ says IEA http://www.upstreamonline.com/incoming/1394357/more-price-uncertainty-says-iea Global oil demand growth has steadily risen since the second quarter of 2014, and according to the International Energy Agency (IEA) forecast for all of 2015, it will continue to do so, bringing global demand to an average 93.5 mbd. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394357/more-price-uncertainty-says-iea Fri, 13 Mar 2015 12:04:33 +0000 ece_incoming Iona nears debt deal http://www.upstreamonline.com/incoming/1394356/iona-nears-debt-deal Troubled Iona Energy has taken a step towards restructuring its financing after reaching an initial agreement with core bondholders to delay US$135 million in payments. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1394356/iona-nears-debt-deal Fri, 13 Mar 2015 11:53:06 +0000 ece_incoming