www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Southern Pacific wraps strategic review http://www.upstreamonline.com/live/1373905/Southern-Pacific-wraps-strategic-review Canadian oil sands junior Southern Pacific Resource has called off a strategic review launched last year without settling on an alternative to improve the company's business prospects. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373905/Southern-Pacific-wraps-strategic-review Fri, 22 Aug 2014 16:35:29 +0000 live Sinopec output, profit up http://www.upstreamonline.com/live/1373897/Sinopec-output-profit-up Chinese energy giant Sinopec rode slowing domestic oil demand and declining petrochemical prices to post a slightly-improved first-half net profit. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373897/Sinopec-output-profit-up Fri, 22 Aug 2014 14:01:44 +0000 live Daya to buy Siem vessel pair http://www.upstreamonline.com/live/1373896/Daya-to-buy-Siem-vessel-pair Oslo-listed Siem Offshore has struck a deal to sell two of its subsea construction vessels to Malaysia’s Daya Materials for a total price of $282 million. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373896/Daya-to-buy-Siem-vessel-pair Fri, 22 Aug 2014 13:24:53 +0000 live Fredriksen in Russian onshore charge http://www.upstreamonline.com/live/1373861/Fredriksen-in-Russian-onshore-charge North Atlantic Drilling Ltd (NADL) is set to acquire a sizeable chunk of Rosneft’s onshore drilling fleet in Russia under a deal that will see the Russian state-owned giant gain a substantial ownership stake in the harsh-environment rig subsidiary of John Fredriksen-owned Seadrill. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373861/Fredriksen-in-Russian-onshore-charge Fri, 22 Aug 2014 08:14:38 +0000 live Petrofac chairman Murray steps down http://www.upstreamonline.com/live/1373854/Petrofac-chairman-Murray-steps-down Petrofac chairman Norman Murray has resigned with immediate effect due to what the UK services giant called “compassionate reasons”. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373854/Petrofac-chairman-Murray-steps-down Fri, 22 Aug 2014 07:58:24 +0000 live RWE Dea deal 'approved' http://www.upstreamonline.com/live/1373849/RWE-Dea-deal-approved The German authorities have reportedly rubber-stamped the sale by energy utility RWE of its Dea exploration and production unit to a Russian investor group despite Western sanctions imposed on the Kremlin over the Ukraine crisis. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1373849/RWE-Dea-deal-approved Fri, 22 Aug 2014 07:13:32 +0000 live Hoegh slips year-on-year http://www.upstreamonline.com/live/1373841/Hoegh-slips-year-on-year Norway’s Hoegh LNG has slipped year-on-year, with the company posting a drop in total revenues and an increased loss. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373841/Hoegh-slips-year-on-year Fri, 22 Aug 2014 05:58:39 +0000 live Bokor tender on the way http://www.upstreamonline.com/live/1373836/Bokor-tender-on-the-way Malaysia’s state-owned Petronas Carigali has floated a conceptual studies tender for the revised phase three Bokor development off Sarawak. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373836/Bokor-tender-on-the-way Fri, 22 Aug 2014 01:33:01 +0000 live Santos profits slip http://www.upstreamonline.com/live/1373827/Santos-profits-slip Australian independent Santos posted a fall in profits for the first six months of the year as impairments offset record revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373827/Santos-profits-slip Fri, 22 Aug 2014 00:03:36 +0000 live Ocean Monarch commands Oz work http://www.upstreamonline.com/live/1373809/Ocean-Monarch-commands-Oz-work Rig contractor Diamond Offshore has secured a contract with Apache for semi-submersible Ocean Monarch to work off Australia starting in early April next year. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373809/Ocean-Monarch-commands-Oz-work Thu, 21 Aug 2014 19:19:23 +0000 live KNOC exec named new Dana acting chief http://www.upstreamonline.com/live/1373787/KNOC-exec-named-new-Dana-acting-chief A Korea National Oil Corporation (KNOC) director has been seconded as the new acting chief executive of Dana Petroleum, increasing speculation the company is seeking greater central control of its Aberdeen-based subsidiary. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373787/KNOC-exec-named-new-Dana-acting-chief Thu, 21 Aug 2014 15:34:13 +0000 live Rongsheng in $282m Kyrgyzstan oilfield deal http://www.upstreamonline.com/live/1373784/Rongsheng-in-282m-Kyrgyzstan-oilfield-deal Shipbuilder China Rongsheng Heavy Industries is making a $282 million debut splash in the energy sector with a sizeable acreage acquisition in Kyrgyzstan. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373784/Rongsheng-in-282m-Kyrgyzstan-oilfield-deal Thu, 21 Aug 2014 15:21:57 +0000 live Bergen Group narrows loss http://www.upstreamonline.com/live/1373755/Bergen-Group-narrows-loss Norway’s Bergen Group narrowed its loss in the second quarter as it bolstered the order backlog for its core offshore rig business after finally shedding its shipbuilding interests. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373755/Bergen-Group-narrows-loss Thu, 21 Aug 2014 12:24:24 +0000 live San Leon quits numerous plays http://www.upstreamonline.com/live/1373637/San-Leon-quits-numerous-plays San Leon Energy has left a raft of licences go as it shakes up its asset portfolio. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373637/San-Leon-quits-numerous-plays Thu, 21 Aug 2014 12:03:47 +0000 live Qinterra nets $20m Petronas well deal http://www.upstreamonline.com/live/1373590/Qinterra-nets-20m-Petronas-well-deal Qinterra Technologies has scooped a well services contract from Malaysia’s Petronas Carigalia worth up to $20 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373590/Qinterra-nets-20m-Petronas-well-deal Thu, 21 Aug 2014 11:34:53 +0000 live GDI gets fourth Keppel Fels jack-up http://www.upstreamonline.com/live/1373586/GDI-gets-fourth-Keppel-Fels-jack-up Singapore’s Keppel Fels has delivered its fourth jack-up rig to Qatari owner Gulf Drilling International (GDI), once again ahead of time. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373586/GDI-gets-fourth-Keppel-Fels-jack-up Thu, 21 Aug 2014 10:55:00 +0000 live Maersk Oil in US cutbacks http://www.upstreamonline.com/live/1373578/Maersk-Oil-in-US-cutbacks Maersk Oil is axing 70 staff at its Houston office and moving its US exploration activity to its Copenhagen headquarters amid escalating costs that have hit the Danish oil company’s bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373578/Maersk-Oil-in-US-cutbacks Thu, 21 Aug 2014 10:05:48 +0000 live IKM bags Goliat award http://www.upstreamonline.com/live/1373570/IKM-bags-Goliat-award IKM Testing has landed a prestigious frame contract worth up to Nkr500 million ($81.3 million) from Eni for subsea engineering and topsides work on the Italian operator’s Goliat oilfield in the Barents Sea off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373570/IKM-bags-Goliat-award Thu, 21 Aug 2014 08:26:29 +0000 live DNO digs in heels in Kurdistan http://www.upstreamonline.com/live/1373566/DNO-digs-in-heels-in-Kurdistan DNO notched up higher revenue in the second quarter on record output as it ramps up its flagship Tawke oilfield in Kurdistan despite the threat of Islamic State (IS) militants that has forced a retreat by other foreign operators in the northern Iraq region. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373566/DNO-digs-in-heels-in-Kurdistan Thu, 21 Aug 2014 07:53:14 +0000 live Premier posts higher profits http://www.upstreamonline.com/live/1373558/Premier-posts-higher-profits UK independent Premier Oil posted a rise in profits during the first half of the year as a tax gain helped offset an increase in the cost of sales. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373558/Premier-posts-higher-profits Thu, 21 Aug 2014 07:22:04 +0000 live Profit dip for Prosafe http://www.upstreamonline.com/live/1373556/Profit-dip-for-Prosafe Oslo-listed accommodation rig specialist Prosafe has seen its profit shrink over the year, with second-quarter figures dropping from the corresponding period in 2013. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373556/Profit-dip-for-Prosafe Thu, 21 Aug 2014 07:06:34 +0000 live EMGS slides further into red http://www.upstreamonline.com/live/1373555/EMGS-slides-further-into-red Norway’s Electromagnetic Geoservices (EMGS) has extended its second quarter loss year-on-year due to softer revenue. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373555/EMGS-slides-further-into-red Thu, 21 Aug 2014 06:47:42 +0000 live Origin posts profit rise http://www.upstreamonline.com/live/1373548/Origin-posts-profit-rise Australian company Origin Energy posted a rise in profits over the recent financial year, as lower expenses offset a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373548/Origin-posts-profit-rise Thu, 21 Aug 2014 04:25:20 +0000 live Petrobras worker dies from burns http://www.upstreamonline.com/live/1373538/Petrobras-worker-dies-from-burns A worker severely burned in an accident at a Petrobras refinery in the Brazilian city of Manaus died of his injuries on Wednesday, according to reports. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373538/Petrobras-worker-dies-from-burns Wed, 20 Aug 2014 23:53:18 +0000 live Sevan in FLNG concept yard study http://www.upstreamonline.com/live/1373501/Sevan-in-FLNG-concept-yard-study Sevan Marine is carrying out a study with a South Korean yard for possible construction of the first floating liquefaction vessel based on its trademark cylindrical design, having attracted interest in the concept from industry players. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373501/Sevan-in-FLNG-concept-yard-study Wed, 20 Aug 2014 14:27:34 +0000 live BP hires CEO for US Lower 48 http://www.upstreamonline.com/live/1373494/BP-hires-CEO-for-US-Lower-48 BP has hired SandRidge Energy chief operating officer David Lawler as the chief executive for its newly separated US Lower 48 Onshore business. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1373494/BP-hires-CEO-for-US-Lower-48 Wed, 20 Aug 2014 14:22:53 +0000 live EMGS lifts North Energy stake http://www.upstreamonline.com/live/1373463/EMGS-lifts-North-Energy-stake Norway’s Electromagnetic Geoservices (EMGS) is boosting its stake in North Energy after converting part of a loan into shares in the explorer, which has also increased its interest in a Norwegian Sea licence. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373463/EMGS-lifts-North-Energy-stake Wed, 20 Aug 2014 09:56:16 +0000 live Inpex sheds further Ichthys stake http://www.upstreamonline.com/live/1373457/Inpex-sheds-further-Ichthys-stake Japan’s Inpex is once again farming down a portion of its stake in the giant Ichthys liquefied natural gas project in Australia, but will remain as operator with a majority share. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373457/Inpex-sheds-further-Ichthys-stake Wed, 20 Aug 2014 08:55:48 +0000 live Mystery Rocksource bid falters http://www.upstreamonline.com/live/1373455/Mystery-Rocksource-bid-falters Shares in Norwegian explorer Rocksource have plunged after a mooted deal from a mystery suitor to take a 30% stake fell through. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373455/Mystery-Rocksource-bid-falters Wed, 20 Aug 2014 08:23:18 +0000 live Topaz nets $75m equity deal http://www.upstreamonline.com/live/1373454/Topaz-nets-75m-equity-deal Offshore vessel owner Topaz Energy & Marine has secured a fresh injection of equity from a large international bank in return for a sizeable stake in the business. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1373454/Topaz-nets-75m-equity-deal Wed, 20 Aug 2014 07:35:21 +0000 live Dolphin posts steady profits http://www.upstreamonline.com/live/1373453/Dolphin-posts-steady-profits Norwegian seismic company Dolphin Geophysical posted a slight dip in profits during the second quarter of the year, despite revenues hitting a historical high. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373453/Dolphin-posts-steady-profits Wed, 20 Aug 2014 07:09:29 +0000 live OGPar to sell Atlanta development: report http://www.upstreamonline.com/live/1373439/OGPar-to-sell-Atlanta-development-report OGPar, the Brazilian independent formerly known as OGX, has put half of its 20% stake in the Atlanta development up for sale, according to local news source Energia Hoje. (Gareth Chetwynd) http://www.upstreamonline.com/live/1373439/OGPar-to-sell-Atlanta-development-report Wed, 20 Aug 2014 02:43:47 +0000 live Roc cheers profit rise http://www.upstreamonline.com/live/1373440/Roc-cheers-profit-rise Australia's Roc Oil saw profits jump in the first half of the year on the back of increased output which drove up revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373440/Roc-cheers-profit-rise Wed, 20 Aug 2014 01:53:43 +0000 live Wild Well expands footprint http://www.upstreamonline.com/live/1373435/Wild-Well-expands-footprint US service provider Wild Well Control is expanding its footprint the Asia Pacific region with the appointment of new staff. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373435/Wild-Well-expands-footprint Tue, 19 Aug 2014 23:53:00 +0000 live Woodside has record half-year http://www.upstreamonline.com/live/1373434/Woodside-has-record-half-year Australian major Woodside Petroleum has booked record profit for the half-year to the end of June, as it focuses on new exploration basins in frontier markets. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373434/Woodside-has-record-half-year Tue, 19 Aug 2014 23:51:33 +0000 live Pressure mounts on Penn West http://www.upstreamonline.com/live/1373432/Pressure-mounts-on-Penn-West Canada's Penn West Petroleum, which said last month that it had discovered nearly C$400 million ($364 million) in accounting irregularities, faces a growing number of lawsuits after its shares lost more than a fifth of their value following the admission. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373432/Pressure-mounts-on-Penn-West Tue, 19 Aug 2014 22:47:07 +0000 live WPX adds acreage to emerging oil play http://www.upstreamonline.com/live/1373393/WPX-adds-acreage-to-emerging-oil-play US independent WPX Energy has sold off mature gas assets in the Powder River basin while adding acreage in an emerging oil play in New Mexico. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373393/WPX-adds-acreage-to-emerging-oil-play Tue, 19 Aug 2014 16:23:04 +0000 live CNPC backing for Badger http://www.upstreamonline.com/live/1373346/CNPC-backing-for-Badger Norwegian technology developer Badger Explorer has enlisted state-run China National Petroleum Corporation (CNPC) to provide funding for its project to develop an autonomous subsea drilling tool. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373346/CNPC-backing-for-Badger Tue, 19 Aug 2014 10:28:11 +0000 live Lotos suffers loss on Yme write-off http://www.upstreamonline.com/live/1373344/Lotos-suffers-loss-on-Yme-write-off Poland's second-largest refiner Lotos suffered a heavy loss in the second quarter as it was hit by a write-down for its exploration & production unit on the Yme oilfield off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1373344/Lotos-suffers-loss-on-Yme-write-off Tue, 19 Aug 2014 09:56:05 +0000 live Maersk Oil sinks into red http://www.upstreamonline.com/live/1373342/Maersk-Oil-sinks-into-red Danish group AP Moller-Maersk bolstered its profit in the second quarter despite a hefty impairment on Brazilian assets that left its Maersk Oil subsidiary with a $1.4 billion loss. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373342/Maersk-Oil-sinks-into-red Tue, 19 Aug 2014 09:32:39 +0000 live Wood Group rides shale gale http://www.upstreamonline.com/live/1373333/Wood-Group-rides-shale-gale Aberdeen-based contractor Wood Group has benefited from a strong US shale market, with revenue up for the half-year. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373333/Wood-Group-rides-shale-gale Tue, 19 Aug 2014 07:18:35 +0000 live Cairn reduces losses http://www.upstreamonline.com/live/1373332/Cairn-reduces-losses Edinburgh-based Cairn Energy reduced its losses during the first half of 2014, despite unsuccessful well costs rising. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373332/Cairn-reduces-losses Tue, 19 Aug 2014 07:14:37 +0000 live Tethys moves further into black http://www.upstreamonline.com/live/1373331/Tethys-moves-further-into-black Sweden’s Tethys Oil has managed to post impressive leaps in profit, revenue and production over the year due to a drop in spending and an increase in the margin on production. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373331/Tethys-moves-further-into-black Tue, 19 Aug 2014 06:37:07 +0000 live SBI lands $24m contract http://www.upstreamonline.com/live/1373322/SBI-lands-24m-contract Singapore’s SBI Offshore has secured a $24 million contract to provide design and engineering services for a jack-up drilling rig. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373322/SBI-lands-24m-contract Tue, 19 Aug 2014 02:32:20 +0000 live Oil Search sees profits rise on PNG LNG start-up http://www.upstreamonline.com/live/1373324/Oil-Search-sees-profits-rise-on-PNG-LNG-start-up Australia-listed Oil Search saw profits rise during the first half of the year thanks to contributions from the recently started Papua New Guinea liquefied natural gas (PNG LNG) project. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373324/Oil-Search-sees-profits-rise-on-PNG-LNG-start-up Tue, 19 Aug 2014 02:03:17 +0000 live Nam Cheong nets four vessels http://www.upstreamonline.com/live/1373319/Nam-Cheong-nets-four-vessels Malaysia’s Nam Cheong has sold four vessels in a deal worth about $90 million, following a strong previous two months. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373319/Nam-Cheong-nets-four-vessels Tue, 19 Aug 2014 01:00:51 +0000 live Monadelphous sees profits slip http://www.upstreamonline.com/live/1373318/Monadelphous-sees-profits-slip Australian engineering company Monadelphous saw profits slip during the recent financial year as revenues also fell. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373318/Monadelphous-sees-profits-slip Tue, 19 Aug 2014 00:43:43 +0000 live Nam Cheong, Marco Polo sign deal http://www.upstreamonline.com/live/1373317/Nam-Cheong-Marco-Polo-sign-deal Singapore’s Marco Polo Marine has signed a joint venture collaboration deal with Malaysia’s Nam Cheong. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373317/Nam-Cheong-Marco-Polo-sign-deal Mon, 18 Aug 2014 23:59:14 +0000 live Synergy in Nebraska tie-up http://www.upstreamonline.com/live/1373299/Synergy-in-Nebraska-tie-up US player Synergy Resources has signed a joint development agreement to drill and develop shallow, conventional oil acreage in Dundy County, Nebraska. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373299/Synergy-in-Nebraska-tie-up Mon, 18 Aug 2014 18:58:51 +0000 live Cameron to shed compression unit http://www.upstreamonline.com/live/1373298/Cameron-to-shed-compression-unit Equipment provider Cameron has agreed to sell its centrifugal compression unit to Ingersoll Rand for about $850 million in order to focus on its core business areas. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1373298/Cameron-to-shed-compression-unit Mon, 18 Aug 2014 18:28:02 +0000 live Bergen Group exits shipbuilding http://www.upstreamonline.com/live/1373287/Bergen-Group-exits-shipbuilding Norway’s Bergen Group has sold its remaining 30% stake in NorYards to Calexco in a $4 million deal to finally exit its shipbuilding interests. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373287/Bergen-Group-exits-shipbuilding Mon, 18 Aug 2014 14:51:59 +0000 live Pareto JGO Shipbrokers buys Derrick Offshore http://www.upstreamonline.com/live/1373286/Pareto-JGO-Shipbrokers-buys-Derrick-Offshore Norway’s Pareto JGO Shipbrokers is acquiring UK contractor Derrick Offshore for an undisclosed sum. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1373286/Pareto-JGO-Shipbrokers-buys-Derrick-Offshore Mon, 18 Aug 2014 14:49:43 +0000 live Rocksource soars on shares bid http://www.upstreamonline.com/live/1373274/Rocksource-soars-on-shares-bid Shares in Oslo-listed minnow Rocksource shot up more than 45% on Monday after a mystery investor submitted a bid to acquire about 30% of its shares. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373274/Rocksource-soars-on-shares-bid Mon, 18 Aug 2014 12:56:49 +0000 live DOF Subsea reels in contracts http://www.upstreamonline.com/live/1373272/DOF-Subsea-reels-in-contracts Oslo-listed offshore vessel owner DOF Subsea has landed a haul of contracts worth a total of Nkr830 million ($135 million) that will secure work for three vessels as well as boost utilisation of existing units. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373272/DOF-Subsea-reels-in-contracts Mon, 18 Aug 2014 12:17:06 +0000 live PT Pertamina boss leaves for Harvard job http://www.upstreamonline.com/live/1373251/PT-Pertamina-boss-leaves-for-Harvard-job Indonesian state oil and gas company PT Pertamina’s chief executive director Karen Agustiawan is stepping down to take up an academic post at Harvard University in the US, reports said. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1373251/PT-Pertamina-boss-leaves-for-Harvard-job Mon, 18 Aug 2014 09:49:20 +0000 live Fastnet eyes Morocco suitors http://www.upstreamonline.com/live/1373244/Fastnet-eyes-Morocco-suitors Fastnet Oil & Gas is looking to wrap up farm-out deals by year-end both for its Celtic Sea acreage off Ireland and onshore Morocco licences that have reportedly attracted interest from nine potential suitors. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373244/Fastnet-eyes-Morocco-suitors Mon, 18 Aug 2014 08:58:40 +0000 live IRG gains on Tunisia approval http://www.upstreamonline.com/live/1373242/IRG-gains-on-Tunisia-approval UK-listed exploration newcomer Independent Resources has secured approval from Tunisian authorities to operate the Ksar Hadada onshore block with a two-year licence extension. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1373242/IRG-gains-on-Tunisia-approval Mon, 18 Aug 2014 08:51:48 +0000 live Orion awards rig contract http://www.upstreamonline.com/live/1373235/Orion-awards-rig-contract Orion Engineering and Management Ltd has awarded Chinese rig builder Honghua Group a deal to build a semi-submersible drilling rig, with options to build three more. (Xu Yihe) http://www.upstreamonline.com/live/1373235/Orion-awards-rig-contract Mon, 18 Aug 2014 07:24:57 +0000 live Energy Drilling ready to start http://www.upstreamonline.com/live/1373231/Energy-Drilling-ready-to-start Singapore rig owner Energy Drilling’s first tender rig EDrill-1 is ready for its first job under charter with Thailand’s PTTEP for operations in the Gulf of Thailand for three years commencing October this year. (Xu Yihe) http://www.upstreamonline.com/live/1373231/Energy-Drilling-ready-to-start Mon, 18 Aug 2014 06:53:38 +0000 live Cooper boosts bottom line http://www.upstreamonline.com/live/1373181/Cooper-boosts-bottom-line Australia-listed Cooper Energy has managed to pull off a stellar year, posting improvements across the board. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373181/Cooper-boosts-bottom-line Mon, 18 Aug 2014 00:41:06 +0000 live BHP Billiton to do the splits http://www.upstreamonline.com/live/1373128/BHP-Billiton-to-do-the-splits Australian resources giant BHP Billiton is planning a reported $14 billion spin-off of marginal assets in order to focus on its four core businesses, including petroleum. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373128/BHP-Billiton-to-do-the-splits Fri, 15 Aug 2014 12:02:05 +0000 live Loss widens for SeaBird http://www.upstreamonline.com/live/1373114/Loss-widens-for-SeaBird Norwegian seismic player SeaBird Exploration saw its net loss widen in the second quarter as impairments on multi-client work sank its bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373114/Loss-widens-for-SeaBird Fri, 15 Aug 2014 09:04:37 +0000 live HRT warns of more possible job cuts http://www.upstreamonline.com/live/1373107/HRT-warns-of-more-possible-job-cuts HRT posted its second ever profitable quarter as the Brazilian independent suggested another 70 job cuts could be on the way as it strives to boost flagging cash flows. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1373107/HRT-warns-of-more-possible-job-cuts Fri, 15 Aug 2014 08:42:34 +0000 live KOGT overhaul amid orders slump http://www.upstreamonline.com/live/1373108/KOGT-overhaul-amid-orders-slump Profits slumped at Kongsberg Oil & Gas Technologies (KOGT) in the second quarter as project delays and cancellations have hit its order book, with the Norwegian parent now set to restructure the loss-making division. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373108/KOGT-overhaul-amid-orders-slump Fri, 15 Aug 2014 08:39:35 +0000 live Glencore moving further into oil http://www.upstreamonline.com/live/1373098/Glencore-moving-further-into-oil Anglo-Swiss mining major Glencore has boosted its oil production, after recently diversifying its portfolio. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373098/Glencore-moving-further-into-oil Fri, 15 Aug 2014 05:51:19 +0000 live Gulfsands refuses to make Tunisia payment http://www.upstreamonline.com/live/1373093/Gulfsands-refuses-to-make-Tunisia-payment Australia's ADX Energy has obtained approval to transfer its interest in the Chorbane permit, in Tunisia, to London-listed Gulfsands Petroleum, however the latter is now refusing to make a previously agreed settlement payment. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1373093/Gulfsands-refuses-to-make-Tunisia-payment Fri, 15 Aug 2014 04:05:00 +0000 live Swissco nets $94.8m charters http://www.upstreamonline.com/live/1373085/Swissco-nets-94.8m-charters Singapore’s Swissco has announced a number of contract wins which will have the company providing four vessels to be used in Latin America. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1373085/Swissco-nets-94.8m-charters Fri, 15 Aug 2014 02:07:35 +0000 live Dalian delivers FPSO http://www.upstreamonline.com/live/1373081/Dalian-delivers-FPSO Chinese yard Dalian Shipbuilding Industry Corporation (DSIC) has delivered a floating, production, storage and offshore loading vessel to China National Offshore Oil Corporation Friday, two weeks ahead of schedule. (Xu Yihe) http://www.upstreamonline.com/live/1373081/Dalian-delivers-FPSO Fri, 15 Aug 2014 00:57:15 +0000 live Lotos in Yme write-off http://www.upstreamonline.com/live/1373007/Lotos-in-Yme-write-off Lotos E&P has decided to write off the full value of its investment in the troubled Yme project off Norway, while criticising the lack of progress by Canadian operator Talisman Energy in coming up with an alternative development solution for the ill-fated field. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1373007/Lotos-in-Yme-write-off Thu, 14 Aug 2014 14:40:34 +0000 live 'Russia's image may hit sales': Lukoil http://www.upstreamonline.com/live/1372929/Russias-image-may-hit-sales-Lukoil Lukoil has warned it could face a decline in sales abroad due to Russia's negative public image in other countries, according to a report. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1372929/Russias-image-may-hit-sales-Lukoil Thu, 14 Aug 2014 11:18:02 +0000 live Profit rebound for Pacific Rubiales http://www.upstreamonline.com/live/1372885/Profit-rebound-for-Pacific-Rubiales Colombia-focused Pacific Rubiales has revived profits in the second quarter despite lower-than-expected output at its biggest asset, thanks to higher netbacks and the absence of non-recurring items that hampered the results last year. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1372885/Profit-rebound-for-Pacific-Rubiales Thu, 14 Aug 2014 10:38:51 +0000 live Sechin ‘asks government for $41bn’ http://www.upstreamonline.com/live/1372880/Sechin-‘asks-government-for-41bn’ Russian oil behemoth Rosneft has asked the government for more than $41 billion to help it ride out the effect of sanctions imposed against it and Russia by the US and European Union, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372880/Sechin-‘asks-government-for-41bn’ Thu, 14 Aug 2014 10:13:46 +0000 live DNO denies Somaliland exit http://www.upstreamonline.com/live/1372882/DNO-denies-Somaliland-exit DNO has categorically denied that it intends to pull out of Somaliland after a team working for the Norwegian independent reportedly came under fire in the breakaway region of Somalia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1372882/DNO-denies-Somaliland-exit Thu, 14 Aug 2014 10:06:59 +0000 live PGNiG slips on upstream impairments http://www.upstreamonline.com/live/1372881/PGNiG-slips-on-upstream-impairments Polish national gas company PGNiG reported a 4% drop in first-half net income to 340 million zloty ($108 million) despite higher revenues and a jump in oil production as impairments cut the company’s bottom line. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1372881/PGNiG-slips-on-upstream-impairments Thu, 14 Aug 2014 09:40:37 +0000 live Ophir heads for Somaliland exit http://www.upstreamonline.com/live/1372864/Ophir-heads-for-Somaliland-exit Ophir Energy is looking to quit its offshore Somaliland acreage, with the Africa-focused player also aiming to dispose of its interests off the Sahrawi Arab Democratic Republic (SADR) in Western Sahara. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372864/Ophir-heads-for-Somaliland-exit Thu, 14 Aug 2014 08:05:31 +0000 live Noreco in North Energy swap deal http://www.upstreamonline.com/live/1372863/Noreco-in-North-Energy-swap-deal Norwegian independent Noreco is farming down half of its operating stake in a Norwegian Sea licence that hosts a failed prospect while increasing its interest in another drilling target under an asset swap deal with compatriot North Energy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1372863/Noreco-in-North-Energy-swap-deal Thu, 14 Aug 2014 07:25:33 +0000 live Energy XXI profit plummets http://www.upstreamonline.com/live/1372861/Energy-XXI-profit-plummets Higher expenses eroded increased revenues to send full-year net profit plunging at US independent Energy XXI. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372861/Energy-XXI-profit-plummets Thu, 14 Aug 2014 07:24:07 +0000 live Ophir into the black http://www.upstreamonline.com/live/1372860/Ophir-into-the-black London-listed Ophir Energy has managed to move back into profit in the half-year to June 2014, after it posted a loss in the corresponding period in the previous year. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1372860/Ophir-into-the-black Thu, 14 Aug 2014 07:17:55 +0000 live Royal Boskalis improves numbers http://www.upstreamonline.com/live/1372856/Royal-Boskalis-improves-numbers Dutch player Royal Boskalis Westminster has managed to boost its profit and revenue on the back of a busy half-year for the company’s dredging and inland infra business. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1372856/Royal-Boskalis-improves-numbers Thu, 14 Aug 2014 06:04:24 +0000 live NSW gov fails to give evidence http://www.upstreamonline.com/live/1372850/NSW-gov-fails-to-give-evidence The New South Wales government has failed to provide any evidence in its court case in order to keep a drilling ban on Metgasco’s conventional drilling in the state. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1372850/NSW-gov-fails-to-give-evidence Thu, 14 Aug 2014 01:42:08 +0000 live Connacher narrows losses http://www.upstreamonline.com/live/1372848/Connacher-narrows-losses Canadain oil sands player Connacher Oil & Gas reduced its losses during the second quarter as increased output helped lift revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1372848/Connacher-narrows-losses Wed, 13 Aug 2014 23:54:07 +0000 live Athlon in $382m Midland buy http://www.upstreamonline.com/live/1372844/Athlon-in-382m-Midland-buy Permian player Athlon Energy added a chunk of acreage in the Midland sub-basin for a total of $382 million in a deal cheered by analysts. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1372844/Athlon-in-382m-Midland-buy Wed, 13 Aug 2014 21:37:47 +0000 live Venari cashes up from private equity http://www.upstreamonline.com/live/1372834/Venari-cashes-up-from-private-equity Privately held US Gulf of Mexico player Venari Resources has received $1.3 billion in new financing from a raft of private equity investors. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1372834/Venari-cashes-up-from-private-equity Wed, 13 Aug 2014 19:55:38 +0000 live Round Zero makes Pemex major player http://www.upstreamonline.com/live/1372829/Round-Zero-makes-Pemex-major-player Mexican regulators on Wednesday granted Pemex the bulk of its acreage request as the nation's oil industry opens to private participation, consolidating the state-led company's status as a major force despite losing its monopoly status. Kathrine.Schmidt@upstreamonline.com (Kathrine Schmidt) http://www.upstreamonline.com/live/1372829/Round-Zero-makes-Pemex-major-player Wed, 13 Aug 2014 18:38:08 +0000 live ONGC profits on higher prices http://www.upstreamonline.com/live/1372805/ONGC-profits-on-higher-prices India’s Oil and Natural Gas Corporation (ONGC) increased net profit by 19% in the second quarter compared to a year earlier thanks to higher realised prices. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1372805/ONGC-profits-on-higher-prices Wed, 13 Aug 2014 16:09:44 +0000 live Texas American in $135m acreage sale http://www.upstreamonline.com/live/1372791/Texas-American-in-135m-acreage-sale Privately held Texas American Resources has sold a raft of onshore assets in South Texas to a mystery buyer in a deal worth $135 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372791/Texas-American-in-135m-acreage-sale Wed, 13 Aug 2014 14:46:52 +0000 live InterOil back in black http://www.upstreamonline.com/live/1372767/InterOil-back-in-black Canadian independent InterOil reversed a year-earlier loss in the second quarter as the disposal of its downstream business lifted the bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1372767/InterOil-back-in-black Wed, 13 Aug 2014 11:39:08 +0000 live Petronas hikes profit by 11.8% http://www.upstreamonline.com/live/1372763/Petronas-hikes-profit-by-11.8 Malaysia’s Petronas has reported an 11.8% rise in after-tax profits to 39.8 billion ringgit ($12.47 billion) for the first half of the year on higher production. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1372763/Petronas-hikes-profit-by-11.8 Wed, 13 Aug 2014 10:53:11 +0000 live EnQuest delays Alma Galia first oil again http://www.upstreamonline.com/live/1372732/EnQuest-delays-Alma-Galia-first-oil-again EnQuest has admitted that first oil from its Alma Galia project in the North Sea is not expected until the middle of next year as some “legacy issues” hold up sailaway of a floating production, storage and offloading unit from a UK yard. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372732/EnQuest-delays-Alma-Galia-first-oil-again Wed, 13 Aug 2014 07:30:06 +0000 live Awilco sees profits dip http://www.upstreamonline.com/live/1372738/Awilco-sees-profits-dip Higher taxes and operating costs hit the bottom line of UK-based Awilco Drilling in the second quarter despite increased revenue for its two-rig fleet that swelled operating profit. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1372738/Awilco-sees-profits-dip Wed, 13 Aug 2014 07:13:24 +0000 live AziPac confirms new managing director http://www.upstreamonline.com/live/1372737/AziPac-confirms-new-managing-director Singapore-based AziPac has confirmed the appointment of Frank Inouye as its managing director with immediate effect. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1372737/AziPac-confirms-new-managing-director Wed, 13 Aug 2014 07:07:36 +0000 live Taqa bounces back to profit http://www.upstreamonline.com/live/1372729/Taqa-bounces-back-to-profit Abu Dhabi-based Taqa bounced back into the black during the first half of 2014 as output hit a record high. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1372729/Taqa-bounces-back-to-profit Wed, 13 Aug 2014 06:39:20 +0000 live Magnum refuses to lift offer http://www.upstreamonline.com/live/1372725/Magnum-refuses-to-lift-offer US operator Magnum Hunter Resources has announced it will not increase its offer price for Ambassador Oil & Gas’ shares. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1372725/Magnum-refuses-to-lift-offer Wed, 13 Aug 2014 03:09:21 +0000 live CIMC delivers jack-up http://www.upstreamonline.com/live/1372723/CIMC-delivers-jack-up Chinese yard CIMC Raffles has delivered a jack-up drilling rig built to the JUE2000E design to Malaysia-listed Coastal Contracts, the ninth of its kind the yard has delivered so far. (Xu Yihe) http://www.upstreamonline.com/live/1372723/CIMC-delivers-jack-up Wed, 13 Aug 2014 03:05:54 +0000 live Swiber profits climb http://www.upstreamonline.com/live/1372714/Swiber-profits-climb Singapore’s Swiber has taken a hit as revenue from existing production dropped, while new contracts failed to bridge the gap. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1372714/Swiber-profits-climb Wed, 13 Aug 2014 00:14:05 +0000 live Cosco rakes in $470m contract http://www.upstreamonline.com/live/1372713/Cosco-rakes-in-470m-contract Chinese fabrication group Cosco has landed a four-vessel newbuild contract from Danish company Maersk Supply Service (MSS) worth more than $470 million. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1372713/Cosco-rakes-in-470m-contract Tue, 12 Aug 2014 23:50:00 +0000 live Contango adds new shale play to portfolio http://www.upstreamonline.com/live/1372698/Contango-adds-new-shale-play-to-portfolio US independent Contango Oil & Gas has added acreage to its portfolio prospective for a shale formation in Wyoming that has produced conventional hydrocarbon for years but is largely untested for unconventional potential. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1372698/Contango-adds-new-shale-play-to-portfolio Tue, 12 Aug 2014 21:56:53 +0000 live M&A deals signal change in the air http://www.upstreamonline.com/live/1372672/MA-deals-signal-change-in-the-air Upstream merger-and-acquisition (M&A) deal values ballooned in the first half, but the past frenzy from players to get their teeth into unconventional plays has cooled, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372672/MA-deals-signal-change-in-the-air Tue, 12 Aug 2014 15:06:28 +0000 live Schlumberger warns on sanctions impact http://www.upstreamonline.com/live/1372650/Schlumberger-warns-on-sanctions-impact Sanctions imposed on Russia by the US and European Union are to negatively affect Schlumberger's bottom line in the third quarter, the services giant has warned. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372650/Schlumberger-warns-on-sanctions-impact Tue, 12 Aug 2014 12:09:23 +0000 live Hunting in $18m contracts score http://www.upstreamonline.com/live/1372644/Hunting-in-18m-contracts-score UK company Hunting Energy Services has landed a series of contracts worth a combined $18 million to supply equipment to clients in Asia. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1372644/Hunting-in-18m-contracts-score Tue, 12 Aug 2014 11:40:30 +0000 live