www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Petronas profit drops in Q3 http://www.upstreamonline.com/live/1385039/Petronas-profit-drops-in-Q3 Malaysia's Petronas saw its net profit drop in the third quarter as lower realised energy prices negated a hike in production. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1385039/Petronas-profit-drops-in-Q3 Fri, 28 Nov 2014 11:51:33 +0000 live TTS cuts staff http://www.upstreamonline.com/live/1385022/TTS-cuts-staff Offshore crane supplier to shed workers in Bergen and Shanghai due to market slump Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385022/TTS-cuts-staff Fri, 28 Nov 2014 10:11:10 +0000 live Losses mount for Noreco http://www.upstreamonline.com/live/1385012/Losses-mount-for-Noreco Struggling Norwegian independent Noreco suffered a heavy loss of Nkr1.1 billion ($157.2 million) in the third quarter as hefty impairments due to field write-downs took a toll on its bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385012/Losses-mount-for-Noreco Fri, 28 Nov 2014 09:54:58 +0000 live Plexus wins work on Det Norske well http://www.upstreamonline.com/live/1385004/Plexus-wins-work-on-Det-Norske-well London-listed player to supply equipment services for appraisal well on the Iva Aasen development Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1385004/Plexus-wins-work-on-Det-Norske-well Fri, 28 Nov 2014 08:53:14 +0000 live Dolphin nets new award http://www.upstreamonline.com/live/article1385006.ece Dolphin Geophysical has secured a further 3D seismic survey contract off West Africa for an unnamed independent. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/article1385006.ece Fri, 28 Nov 2014 08:44:55 +0000 live SeaBird plunges into the red http://www.upstreamonline.com/live/1385005/SeaBird-plunges-into-the-red Norwegian seismic player SeaBird Exploration slumped to a loss in the third quarter as weak demand hit revenue and it is now looking at possible vessel lay-ups as part of a cost-cutting effort amid a financial crisis. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1385005/SeaBird-plunges-into-the-red Fri, 28 Nov 2014 08:26:53 +0000 live Technip wins Gullfaks subsea contract http://www.upstreamonline.com/live/1385000/Technip-wins-Gullfaks-subsea-contract French engineering company Technip has landed a subsea contract on Statoil's Gullfaks field in the Norwegian sector of the North Sea. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1385000/Technip-wins-Gullfaks-subsea-contract Fri, 28 Nov 2014 06:57:09 +0000 live Pembina to expand Alberta facility http://www.upstreamonline.com/live/1384999/Pembina-to-expand-Alberta-facility Calgary-based Pembina Pipeline plans to build a new gas processing plant to expand its capacity at its Musreau facility in Alberta, Canada. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384999/Pembina-to-expand-Alberta-facility Fri, 28 Nov 2014 04:42:21 +0000 live Rosneft jack-up deal in doubt http://www.upstreamonline.com/live/1384995/Rosneft-jack-up-deal-in-doubt A contract for Rosneft to charter the jack-up Energy Endeavour is in doubt, with owner Northern Offshore revealing the deal has been delayed and it is marketing the rig to other potential clients. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384995/Rosneft-jack-up-deal-in-doubt Fri, 28 Nov 2014 02:48:09 +0000 live Circle Group acquires WellPartner http://www.upstreamonline.com/live/1384949/Circle-Group-acquires-WellPartner A new oilfield services vehicle backed by equity player HitecVision named Circle Group has acquired Norwegian subsea service specialist WellPartner for an undisclosed sum. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384949/Circle-Group-acquires-WellPartner Thu, 27 Nov 2014 14:23:43 +0000 live SBM breaks silence on Brazil http://www.upstreamonline.com/live/1384912/SBM-breaks-silence-on-Brazil SBM Offshore has finally broken its silence in the wake of allegations made against it in recent weeks in relation to historical contracts involving Brazil's Petrobras. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384912/SBM-breaks-silence-on-Brazil Thu, 27 Nov 2014 12:13:22 +0000 live Lukoil profit sinks by 47% http://www.upstreamonline.com/live/1384911/Lukoil-profit-sinks-by-47 Russia’s Lukoil reported a 47% plunge in net profit in the third quarter as currency losses, lower oil prices and asset write-downs ate into higher revenues. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384911/Lukoil-profit-sinks-by-47 Thu, 27 Nov 2014 11:29:01 +0000 live Dolphin bags India award http://www.upstreamonline.com/live/1384905/Dolphin-bags-India-award Oslo-listed seismic contractor Dolphin Geophysical has secured work with an unnamed client to carry out two 3D surveys off India. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384905/Dolphin-bags-India-award Thu, 27 Nov 2014 10:17:28 +0000 live Delek advances plans for UK listing http://www.upstreamonline.com/live/1384901/Delek-advances-plans-for-UK-listing Israel’s Delek Group is advancing plans to list its shares on the London Stock Exchange by mid-2015 as it sells non-energy subsidiaries to focus on developing its gas discoveries. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384901/Delek-advances-plans-for-UK-listing Thu, 27 Nov 2014 10:09:40 +0000 live Sistema launches review as profit sinks http://www.upstreamonline.com/live/1384900/Sistema-launches-review-as-profit-sinks Russian conglomerate Sistema has launched a review into its costs, portfolio and investment strategy in the wake of the seizure by the state of its holding in oil producer Bashneft and arrest of its chairman. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384900/Sistema-launches-review-as-profit-sinks Thu, 27 Nov 2014 10:03:58 +0000 live Lund pay deal 'falls foul' of Whitehall http://www.upstreamonline.com/live/1384775/Lund-pay-deal-falls-foul-of-Whitehall UK Business Secretary Vince Cable has reportedly added his voice to the chorus of investor protest over the pay deal being offered by BG Group to new chief executive Helge Lund - and is rallying shareholders to vote against it. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384775/Lund-pay-deal-falls-foul-of-Whitehall Thu, 27 Nov 2014 08:57:00 +0000 live Clarksons nets Platou deal http://www.upstreamonline.com/live/1384752/Clarksons-nets-Platou-deal UK shipbroking giant Clarksons has won the backing of the vast majority of shareholders at RS Platou for its proposed $440 million takeover of the Norwegian broking house. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384752/Clarksons-nets-Platou-deal Thu, 27 Nov 2014 08:23:55 +0000 live Mermaid's profits almost triple http://www.upstreamonline.com/live/1384742/Mermaids-profits-almost-triple Offshore service provider Mermaid Maritime saw profits nearly triple during the third quarter of the year as higher revenues and contributions from an associated drilling company helped boost results. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384742/Mermaids-profits-almost-triple Thu, 27 Nov 2014 04:16:46 +0000 live Kleven delivers Rem Eir PSV http://www.upstreamonline.com/live/1384741/Kleven-delivers-Rem-Eir-PSV Kleven Verft has delivered, what it claims to be, the largest liquefied natural gas powered platform supply vessel to fellow Norwegian company Remoy Shipping. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384741/Kleven-delivers-Rem-Eir-PSV Thu, 27 Nov 2014 03:51:57 +0000 live Beach unveils new managing director http://www.upstreamonline.com/live/1384733/Beach-unveils-new-managing-director Australia's Beach Energy has revealed a current Woodside Petroleum executive will replace long serving managing director Reg Nelson in the role next year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384733/Beach-unveils-new-managing-director Thu, 27 Nov 2014 00:43:20 +0000 live OceanWorks gets MWCC storage gig http://www.upstreamonline.com/live/1384730/OceanWorks-gets-MWCC-storage-gig Canadian engineering firm OceanWorks International has won a contract from the Marine Well Containment Company (MWCC) to supply a storage and maintenance facility for certain components of the consortium's containment system. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384730/OceanWorks-gets-MWCC-storage-gig Wed, 26 Nov 2014 22:52:27 +0000 live C&J puts itself back on the market http://www.upstreamonline.com/live/1384729/CJ-puts-itself-back-on-the-market C&J Energy Services has started soliciting new offers to buy the company after a Delaware judge halted a proposed merger between the pressure pumper and rig owner Nabors Industries. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384729/CJ-puts-itself-back-on-the-market Wed, 26 Nov 2014 22:41:51 +0000 live Damen gets upgrade gig for MSV Seawell http://www.upstreamonline.com/live/1384726/Damen-gets-upgrade-gig-for-MSV-Seawell Helix UK has awarded a unit of Damen Shiprepair & Conversion a contract to perform a major upgrade of light well intervention and dive support vessel MSV Seawell. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384726/Damen-gets-upgrade-gig-for-MSV-Seawell Wed, 26 Nov 2014 21:36:56 +0000 live Audit: Macondo settlements mostly correct http://www.upstreamonline.com/live/1384724/Audit-Macondo-settlements-mostly-correct A third-party audit of the settlement programme related to the Macondo oil spill of 2010 found that the vast majority claims filed against BP were valid, giving a boost to the administrator of the payouts whom the UK supermajor tried to oust. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384724/Audit-Macondo-settlements-mostly-correct Wed, 26 Nov 2014 21:21:03 +0000 live Report trumpets northern Canada resources http://www.upstreamonline.com/live/1384720/Report-trumpets-northern-Canada-resources Canada's Northwest Territories province contains recoverable conventional resources of more than 16.4 trillion cubic feet of gas and 1.2 billion barrels of crude, according to the nation's top energy regulator. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384720/Report-trumpets-northern-Canada-resources Wed, 26 Nov 2014 17:04:40 +0000 live Odfjell risks drillship lay-up http://www.upstreamonline.com/live/1384715/Odfjell-risks-drillship-lay-up Odfjell Drilling is facing a possible lay-up for its partly-owned ultra-deepwater drillship Deepsea Metro I as the unit nears the end of its charter, with no more work currently in sight. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384715/Odfjell-risks-drillship-lay-up Wed, 26 Nov 2014 16:02:04 +0000 live NADL axes dividend, cuts costs http://www.upstreamonline.com/live/1384708/NADL-axes-dividend-cuts-costs North Atlantic Drilling (NADL) has followed majority stakeholder Seadrill in suspending its regular dividend as it reacts to weak offshore drilling markets and a stalled $4.25 billion deal with Russia's Rosneft. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384708/NADL-axes-dividend-cuts-costs Wed, 26 Nov 2014 13:56:46 +0000 live Dayrate cut for Sevan rig http://www.upstreamonline.com/live/1384704/Dayrate-cut-for-Sevan-rig Sevan Drilling has been forced to take a dayrate cut on a recently delivered newbuild rig to avoid a contract termination as low utilisation for its fleet in the third quarter hit its liquidity. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384704/Dayrate-cut-for-Sevan-rig Wed, 26 Nov 2014 11:39:46 +0000 live Profits hit for Seadrill http://www.upstreamonline.com/live/1384688/Profits-hit-for-Seadrill Rig giant Seadrill saw its net profit drop 40% year on year in the third quarter as it was clobbered by higher financial expenses but a raft of recent rig contracts has left it relatively well insulated against the drilling market slump that is putting pressure on dayrates. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384688/Profits-hit-for-Seadrill Wed, 26 Nov 2014 08:39:57 +0000 live Odfjell sees profits fall http://www.upstreamonline.com/live/1384685/Odfjell-sees-profits-fall Norway's Odfjell Drilling has posted a fall in profits during the third quarter as it generated less money compared to a year ago. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384685/Odfjell-sees-profits-fall Wed, 26 Nov 2014 08:04:04 +0000 live Hoegh deepens losses http://www.upstreamonline.com/live/1384684/Hoegh-deepens-losses Norwegian shipping player Hoegh LNG slid further into the red during the September quarter due to a number of costs booked against the start of operations on two vessels. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384684/Hoegh-deepens-losses Wed, 26 Nov 2014 07:30:09 +0000 live Sona hopeful of completing Thai deal http://www.upstreamonline.com/live/1384681/Sona-hopeful-of-completing-Thai-deal Malaysia's Sona Petroleum is still working to close a deal to gain Salamander Energy's 40% stake in the B8/38 and G4/50 concessions off Thailand. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384681/Sona-hopeful-of-completing-Thai-deal Wed, 26 Nov 2014 04:24:31 +0000 live Keppel delivers in Mexico http://www.upstreamonline.com/live/1384680/Keppel-delivers-in-Mexico Singapore’s Keppel has delivered another jack-up rig to Perforadora Central, the fourth in a series of rigs being built for the Mexican player. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384680/Keppel-delivers-in-Mexico Wed, 26 Nov 2014 04:19:14 +0000 live Petrobras creates new compliance role http://www.upstreamonline.com/live/1384673/Petrobras-creates-new-compliance-role The board of Brazil's Petrobras has approved the creation of a new role that will oversee compliance and risk mitigation within the company, including ensuring it is not involved fraud and corruption. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384673/Petrobras-creates-new-compliance-role Wed, 26 Nov 2014 01:59:44 +0000 live Woodside to pick up more Moroccan acreage http://www.upstreamonline.com/live/1384670/Woodside-to-pick-up-more-Moroccan-acreage Australia's Woodside Petroleum has been granted a reconnaissance licence off the coast of Morocco. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384670/Woodside-to-pick-up-more-Moroccan-acreage Wed, 26 Nov 2014 00:30:45 +0000 live Pemex installs Tsimin-Xux production platform http://www.upstreamonline.com/live/1384662/Pemex-installs-Tsimin-Xux-production-platform Mexico’s state-controlled Pemex installed a new production processing and compression platform on the Tsimin-Xux complex in the Gulf of Mexico by float-over installation for the first time ever. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1384662/Pemex-installs-Tsimin-Xux-production-platform Tue, 25 Nov 2014 22:05:34 +0000 live Freeport LNG set to break ground http://www.upstreamonline.com/live/1384659/Freeport-LNG-set-to-break-ground Freeport LNG has notified contractors to start construction work on the first two trains of the gas-export project on Quintana Island off Texas after closing on around $11 billion in financing commitments. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384659/Freeport-LNG-set-to-break-ground Tue, 25 Nov 2014 21:21:53 +0000 live TransAtlantic hits on Turkish shale wildcat http://www.upstreamonline.com/live/1384657/TransAtlantic-hits-on-Turkish-shale-wildcat Toronto-listed TransAtlantic Petroleum has drilled and fractured its first well testing the Dadas shale formation in Turkey and flowed the well at a rate of around 800 barrels of oil per day. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1384657/TransAtlantic-hits-on-Turkish-shale-wildcat Tue, 25 Nov 2014 20:33:18 +0000 live Gazprom Neft, PetroVietnam in Arctic pact http://www.upstreamonline.com/live/1384640/Gazprom-Neft-PetroVietnam-in-Arctic-pact Gazprom Neft and PetroVietnam are aiming to jointly explore for oil and gas at Russia’s Dolginskoye field in the Pechora Sea in Russia’s Arctic region. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384640/Gazprom-Neft-PetroVietnam-in-Arctic-pact Tue, 25 Nov 2014 15:41:52 +0000 live Statoil pulls vessel option http://www.upstreamonline.com/live/1384638/Statoil-pulls-vessel-option Statoil has decided not to declare a 100-day option on a well intervention vessel in a further cutback by the cost-cutting state-owned operator. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384638/Statoil-pulls-vessel-option Tue, 25 Nov 2014 13:50:24 +0000 live Zargon in Alberta asset sale deal http://www.upstreamonline.com/live/1384633/Zargon-in-Alberta-asset-sale-deal Canadian junior Zargon Oil & Gas is bagging C$25 million (US$22.18 million) from the sale of oil and gas assets in east-central Alberta. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384633/Zargon-in-Alberta-asset-sale-deal Tue, 25 Nov 2014 13:27:32 +0000 live Shareholders back 3Legs payout http://www.upstreamonline.com/live/1384630/Shareholders-back-3Legs-payout Shareholders in London-listed shale explorer 3Legs Resources have unanimously approved the company’s plans to return remaining capital to shareholders as it winds up the business. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384630/Shareholders-back-3Legs-payout Tue, 25 Nov 2014 12:46:17 +0000 live Total faces 'graft trial' http://www.upstreamonline.com/live/1384629/Total-faces-graft-trial Total is to face trial in France over corruption allegations relating to Iranian contracts dating from the 1990s and early 2000s, according to a report. (News Wires) http://www.upstreamonline.com/live/1384629/Total-faces-graft-trial Tue, 25 Nov 2014 11:43:44 +0000 live Judge puts C&J-Nabors deal on ice http://www.upstreamonline.com/live/1384627/Judge-puts-CJ-Nabors-deal-on-ice A Delaware court has put Houston-based C&J Energy Services’ $2.86 billion merger with the completion and production unit of Nabors Industries temporarily on ice, in a rare move for a judge in a live deal. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384627/Judge-puts-CJ-Nabors-deal-on-ice Tue, 25 Nov 2014 10:55:15 +0000 live Solstad wins Chevron gig http://www.upstreamonline.com/live/1384615/Solstad-wins-Chevron-gig Solstad Offshore has landed extensive platform installation work for one of its vessels with Chevron off Thailand. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384615/Solstad-wins-Chevron-gig Tue, 25 Nov 2014 09:31:40 +0000 live Reach bags Technip award http://www.upstreamonline.com/live/1384610/Reach-bags-Technip-award Reach Subsea has secured a deal worth up to Nkr70 million ($10.3 million) with Technip to provide remote-operated vehicle services on a newbuild subsea construction vessel to be supplied by Eidesvik Offshore. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384610/Reach-bags-Technip-award Tue, 25 Nov 2014 08:28:44 +0000 live Antrim responds to Sound takeover plan http://www.upstreamonline.com/live/1384608/Antrim-responds-to-Sound-takeover-plan The board of Canada's Antrim Energy is evaluating the takeover proposal from UK-listed Sound Oil and has raised concern over earlier discussions with the company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384608/Antrim-responds-to-Sound-takeover-plan Tue, 25 Nov 2014 08:11:55 +0000 live Clarksons hatches $440m Platou deal http://www.upstreamonline.com/live/1384607/Clarksons-hatches-440m-Platou-deal UK shipbroker Clarksons is lining up a $440 million takeover of Norway's RS Platou in a deal that would only have a small cash element. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384607/Clarksons-hatches-440m-Platou-deal Tue, 25 Nov 2014 08:01:22 +0000 live Faroe closes UK sale http://www.upstreamonline.com/live/1384606/Faroe-closes-UK-sale French player Total has taken over a 10% interest in Faroe Petroleum’s Glenlivet gas field in the UK for £10 million ($15 million). bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384606/Faroe-closes-UK-sale Tue, 25 Nov 2014 07:52:40 +0000 live Petrobras gets SEC subpoena http://www.upstreamonline.com/live/1384597/Petrobras-gets-SEC-subpoena Brazil's Petrobras has received a subpoena from the US Securities & Exchange Commission (SEC) requesting documents related to the latter's investigation into the company. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384597/Petrobras-gets-SEC-subpoena Tue, 25 Nov 2014 01:06:10 +0000 live Sinopec in 'graft probe' http://www.upstreamonline.com/live/1384533/Sinopec-in-graft-probe Chinese investigators are reportedly turning their sights on state-run energy giant Sinopec in the latest probe by the authorities as part of a wide-scale crackdown on corruption at public-sector enterprises. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1384533/Sinopec-in-graft-probe Mon, 24 Nov 2014 14:03:45 +0000 live Resolute deal for Maersk http://www.upstreamonline.com/live/1384526/Resolute-deal-for-Maersk Maersk Drilling has secured a charter extension from Hess for its jack-up Maersk Resolute worth around $75 million for the Danish rig contractor. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384526/Resolute-deal-for-Maersk Mon, 24 Nov 2014 13:11:57 +0000 live Essar Oil hires E&P chief http://www.upstreamonline.com/live/1384486/Essar-Oil-hires-EP-chief India’s Essar Oil has hired Hindustan Oil Exploration managing director Manish Maheshwari to serve as its chief executive of exploration and production. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384486/Essar-Oil-hires-EP-chief Mon, 24 Nov 2014 09:56:25 +0000 live Eland gains on $75m debt talks http://www.upstreamonline.com/live/1384481/Eland-gains-on-75m-debt-talks UK-listed junior Eland Oil & Gas saw its shares rise by almost 10% after the Nigeria-focused explorer said it was in advanced talks on securing $75 million debt capital. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384481/Eland-gains-on-75m-debt-talks Mon, 24 Nov 2014 09:24:34 +0000 live Ophir green light for Salamander bid http://www.upstreamonline.com/live/1384480/Ophir-green-light-for-Salamander-bid Ophir Energy is set to move forward with its all-stock takeover bid for Salamander Energy after securing an agreement on the recommended acquisition between the boards of both London-listed companies. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384480/Ophir-green-light-for-Salamander-bid Mon, 24 Nov 2014 09:14:29 +0000 live Noreco CEO steps down http://www.upstreamonline.com/live/1384479/Noreco-CEO-steps-down The boss of Noreco has stepped down in a top management switch to rescue the cash-strapped Norwegian independent from a financial crisis. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384479/Noreco-CEO-steps-down Mon, 24 Nov 2014 08:41:02 +0000 live Sound to launch Antrim takeover offer http://www.upstreamonline.com/live/1384445/Sound-to-launch-Antrim-takeover-offer Sound Oil is intending to launch a takeover of fellow London-listed company Antrim Energy to create a European-focused upstream company with a pro forma cash balance of about £23 million ($36 million). Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384445/Sound-to-launch-Antrim-takeover-offer Mon, 24 Nov 2014 07:59:09 +0000 live Petrofac sets lower guidance http://www.upstreamonline.com/live/1384447/Petrofac-sets-lower-guidance Oilfield services player Petrofac is expected to suffer at the hands of a lower oil price, setting its 2015 profit guidance at a lower range than the current year projections. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384447/Petrofac-sets-lower-guidance Mon, 24 Nov 2014 07:58:05 +0000 live Hoidi wins more jack-up leg work http://www.upstreamonline.com/live/1384433/Hoidi-wins-more-jack-up-leg-work Singapore-based Hoidi International has landed another contract from China Merchant Heavy Industry (CMHI) to build the legs for a jack-up currently under construction for China Oilfield Services Ltd (COSL). Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384433/Hoidi-wins-more-jack-up-leg-work Mon, 24 Nov 2014 05:29:47 +0000 live BHP to continue cost cuts http://www.upstreamonline.com/live/1384428/BHP-to-continue-cost-cuts Anglo-Australian mining giant BHP Billiton has decided to take another step in its cost-cutting measures, as the company struggles against drops in commodities prices. bianca.bartucciotto@upstreamonline.com (Bianca Bartucciotto) http://www.upstreamonline.com/live/1384428/BHP-to-continue-cost-cuts Mon, 24 Nov 2014 02:42:39 +0000 live BHP sells Cotton Valley gas wells http://www.upstreamonline.com/live/1384405/BHP-sells-Cotton-Valley-gas-wells Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1384405/BHP-sells-Cotton-Valley-gas-wells Fri, 21 Nov 2014 22:20:34 +0000 live Lukoil to chop 2015 investments http://www.upstreamonline.com/live/1384376/Lukoil-to-chop-2015-investments Lukoil is to chop its investment expenses next year by up to a quarter as the Russian oil giant reacts to the current “macroeconomic situation” of depressed oil prices and western sanctions against the country. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384376/Lukoil-to-chop-2015-investments Fri, 21 Nov 2014 15:55:33 +0000 live Shell joins in new US, Canada Arctic study http://www.upstreamonline.com/live/1384365/Shell-joins-in-new-US-Canada-Arctic-study Supermajor Shell is joining a host of governmental bodies for an Arctic study in part aimed at aiding future oil and gas developments in an area between the US and Canada. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384365/Shell-joins-in-new-US-Canada-Arctic-study Fri, 21 Nov 2014 15:16:15 +0000 live Statoil drops Stena rig after Angola duster http://www.upstreamonline.com/live/1384335/Statoil-drops-Stena-rig-after-Angola-duster Norway's Statoil is ditching a Stena Drilling unit early after once again coming up dry at wildcat off Angola. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384335/Statoil-drops-Stena-rig-after-Angola-duster Fri, 21 Nov 2014 12:41:57 +0000 live Delta House work for Ocean Installer http://www.upstreamonline.com/live/1384314/Delta-House-work-for-Ocean-Installer Ocean Installer has scooped a subsea contract from Oceaneering for work on LLOG Exploration’s Delta House project in the US Gulf of Mexico. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384314/Delta-House-work-for-Ocean-Installer Fri, 21 Nov 2014 08:38:28 +0000 live BW sees profits float higher http://www.upstreamonline.com/live/1384311/BW-sees-profits-float-higher Floater specialist BW Offshore saw profits rise during the third quarter of the year as revenues were also higher. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384311/BW-sees-profits-float-higher Fri, 21 Nov 2014 07:53:29 +0000 live Ophir in Salamander offer http://www.upstreamonline.com/live/1384310/Ophir-in-Salamander-offer Ophir Energy has confirmed its intention to acquire fellow London-listed independent Salamander Energy after Spanish player Cepsa canned a potential bid for the company. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384310/Ophir-in-Salamander-offer Fri, 21 Nov 2014 07:42:15 +0000 live Technip wins Brazil flexible pipe gig http://www.upstreamonline.com/live/1384308/Technip-wins-Brazil-flexible-pipe-gig French engineering company Technip has been awarded a contract to supply flexible pipes for the Petrobras-operated Iracema North pre-salt field, in Brazil's offshore Santos basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384308/Technip-wins-Brazil-flexible-pipe-gig Fri, 21 Nov 2014 06:41:42 +0000 live Emas extends charters http://www.upstreamonline.com/live/1384305/Emas-extends-charters Perisai Petroleum Teknologi's majority owned subsidiary Intan Offshore has received extensions on bareboat charters covering five vessels from fellow Intan shareholder, Singapore's Emas Offshore. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384305/Emas-extends-charters Fri, 21 Nov 2014 04:20:55 +0000 live Apache in $1.4bn US asset sales http://www.upstreamonline.com/live/1384255/Apache-in-1.4bn-US-asset-sales US independent Apache has agreed a pair of deals worth a combined $1.4 billion to sell off acreage in two domestic plays. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384255/Apache-in-1.4bn-US-asset-sales Thu, 20 Nov 2014 13:34:46 +0000 live Total flags green credentials http://www.upstreamonline.com/live/1384250/Total-flags-green-credentials French supermajor Total is highlighting its green credentials by supporting a trio of international initiatives aimed at tackling climate change, as global emissions continue to come under the spotlight. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384250/Total-flags-green-credentials Thu, 20 Nov 2014 13:22:33 +0000 live Bumi profit down but sales rise http://www.upstreamonline.com/live/1384249/Bumi-profit-down-but-sales-rise Bottom line drops in third quarter at floater player but revenues well up and outlook bright Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384249/Bumi-profit-down-but-sales-rise Thu, 20 Nov 2014 12:30:07 +0000 live Petronas in $400m Vietnam block exit http://www.upstreamonline.com/live/1384244/Petronas-in-400m-Vietnam-block-exit Malaysia's Petronas has exited three blocks off Vietnam in a deal with compatriot SapuraKencana worth $400 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384244/Petronas-in-400m-Vietnam-block-exit Thu, 20 Nov 2014 12:03:26 +0000 live SeaBird bags big Mexico deal http://www.upstreamonline.com/live/1384225/SeaBird-bags-big-Mexico-deal Bankruptcy-threatened SeaBird Exploration has secured a bumper contract worth up to $176 million with fellow Oslo-listed seismic contractor TGS to carry out 2D surveys off Mexico and the US’ East Coast. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384225/SeaBird-bags-big-Mexico-deal Thu, 20 Nov 2014 09:41:24 +0000 live Lukoil Overseas hikes output by 44% http://www.upstreamonline.com/live/1384223/Lukoil-Overseas-hikes-output-by-44 Lukoil Overseas has ramped up production by 44% in the first nine months of 2014 compared to the same period last year thanks to rising output from Iraq’s West Qurna 2 giant field. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384223/Lukoil-Overseas-hikes-output-by-44 Thu, 20 Nov 2014 09:17:51 +0000 live Houston joins TPH team http://www.upstreamonline.com/live/1384220/Houston-joins-TPH-team Former BG Group executive Martin Houston has joined boutique energy bank Tudor Pickering Holt (TPH) as chairman of its international division. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384220/Houston-joins-TPH-team Thu, 20 Nov 2014 08:34:34 +0000 live Technip eyes CGG buy http://www.upstreamonline.com/live/1384219/Technip-eyes-CGG-buy French engineering giant Technip has confirmed that it has approached compatriot seismic player CGG with a proposed offer to acquire the company Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384219/Technip-eyes-CGG-buy Thu, 20 Nov 2014 08:17:32 +0000 live Caelus biggest bidder in Alaska lease sale http://www.upstreamonline.com/live/1384095/Caelus-biggest-bidder-in-Alaska-lease-sale Privately-held Caelus Energy was the biggest bidder in Alaska's latest northern lease sale announced 19 November.  (Tonya Zelinsky) http://www.upstreamonline.com/live/1384095/Caelus-biggest-bidder-in-Alaska-lease-sale Thu, 20 Nov 2014 06:50:10 +0000 live Drillsearch hires new chief operating officer http://www.upstreamonline.com/live/1384093/Drillsearch-hires-new-chief-operating-officer Sydney-based Drillsearch Energy has enlisted a former executive of BG Group's Australian subsidiary QGC as its chief operating officer. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384093/Drillsearch-hires-new-chief-operating-officer Thu, 20 Nov 2014 04:39:15 +0000 live Suncor to make wildlife safety mandatory http://www.upstreamonline.com/live/1384090/Suncor-to-make-wildlife-safety-mandatory Canada's Suncor Energy will make wildlife safety training mandatory for all staff and contractors following the death of a worker earlier this year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1384090/Suncor-to-make-wildlife-safety-mandatory Thu, 20 Nov 2014 02:54:08 +0000 live Sonde runs out of money, options http://www.upstreamonline.com/live/1384087/Sonde-runs-out-of-money-options Calgary-based Sonde Resources has run out of money and all but exhausted its options to drill a well of Libya and Tunisia and is in danger of being de-listed from all stock exchanges. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384087/Sonde-runs-out-of-money-options Wed, 19 Nov 2014 23:58:20 +0000 live Damen gets Petrobras OSRV work http://www.upstreamonline.com/live/1384084/Damen-gets-Petrobras-OSRV-work Dutch shipbuilder Damen Shipyards is building five new state-of-the-art oil spill response vessels (OSRV) that have secured work off Brazil starting at the end of next year. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384084/Damen-gets-Petrobras-OSRV-work Wed, 19 Nov 2014 23:20:17 +0000 live Samsung scraps proposed merger http://www.upstreamonline.com/live/1384081/Samsung-scraps-proposed-merger Shipbuilder Samsung Heavy Industries of South Korea has scrapped a $2.5 billion takeover of Samsung Engineering due to shareholder opposition, according to a report. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1384081/Samsung-scraps-proposed-merger Wed, 19 Nov 2014 22:50:33 +0000 live Transocean idles more rigs http://www.upstreamonline.com/live/1384054/Transocean-idles-more-rigs Rig owner Transocean is idling three rigs rolling off contracts as headwinds grow stiffer for offshore drillers. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384054/Transocean-idles-more-rigs Wed, 19 Nov 2014 16:12:26 +0000 live Reinertsen hit by 'lay-offs' http://www.upstreamonline.com/live/1384049/Reinertsen-hit-by-lay-offs Norwegian engineering consultancy Reinertsen is set to temporarily lay off 200 engineers due to a dearth of offshore project work, according to a report. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384049/Reinertsen-hit-by-lay-offs Wed, 19 Nov 2014 15:49:18 +0000 live Sea Lion in Sevan sights http://www.upstreamonline.com/live/1384036/Sea-Lion-in-Sevan-sights Sevan Marine is firmly targeting a potential lease contract for a floating production, storage and offloading vessel on Premier Oil’s Sea Lion project off the Falkland Islands after a conceptual shift by the British operator. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384036/Sea-Lion-in-Sevan-sights Wed, 19 Nov 2014 15:15:35 +0000 live Place in sun for Sub Sea Services http://www.upstreamonline.com/live/1384032/Place-in-sun-for-Sub-Sea-Services Norwegian player Sub Sea Services has forged a joint venture with a Las Palmas yard in the Canary Islands to target rig maintenance and repair in the West Africa offshore drilling market amid a dearth of work on the home front. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1384032/Place-in-sun-for-Sub-Sea-Services Wed, 19 Nov 2014 13:58:08 +0000 live Cepsa nearing Real stadium deal? http://www.upstreamonline.com/live/1384028/Cepsa-nearing-Real-stadium-deal Cepsa may no longer be playing ball with Salamander Energy over a takeover deal, but the Spanish player is apparently on the verge of putting its name to another high-profile pitch: Real Madrid’s Santiago Bernabeu stadium. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384028/Cepsa-nearing-Real-stadium-deal Wed, 19 Nov 2014 13:01:22 +0000 live CIMC confirms semisub sextet http://www.upstreamonline.com/live/1384007/CIMC-confirms-semisub-sextet Chinese yard CIMC Raffles has confirmed that it has decided to build up to six mid-water semi-submersible drilling rigs to fulfil strong demand it anticipates in the replacement market in UK North Sea. Bill.Lehane@upstreamonline.com (Bill Lehane) http://www.upstreamonline.com/live/1384007/CIMC-confirms-semisub-sextet Wed, 19 Nov 2014 09:32:27 +0000 live Gulfsands eyes asset deals http://www.upstreamonline.com/live/1384000/Gulfsands-eyes-asset-deals London-quoted player mulls sales, acquisitions and farm-outs as it takes Arawak on board as partner Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1384000/Gulfsands-eyes-asset-deals Wed, 19 Nov 2014 08:45:13 +0000 live Clock ticking on Noreco debt http://www.upstreamonline.com/live/1383997/Clock-ticking-on-Noreco-debt Noreco is seeking deferral of a December deadline for hefty bond loan repayments as it needs more time to find a financing solution that could involve asset sales. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1383997/Clock-ticking-on-Noreco-debt Wed, 19 Nov 2014 08:33:06 +0000 live Wolves at door of SeaBird http://www.upstreamonline.com/live/1383992/Wolves-at-door-of-SeaBird Oslo-listed seismic contractor SeaBird Exploration is in danger of bankruptcy after shareholders booted out a refinancing proposal to avert a debt default. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1383992/Wolves-at-door-of-SeaBird Wed, 19 Nov 2014 07:43:29 +0000 live Wood Group gets Hibernia extension http://www.upstreamonline.com/live/1383991/Wood-Group-gets-Hibernia-extension Wood Group PSN has received an extension to its engineering, procurement and construction services contract at the Hibernia Management & Development-owned Hibernia platform off Newfoundland, Canada. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1383991/Wood-Group-gets-Hibernia-extension Wed, 19 Nov 2014 07:35:38 +0000 live CIMC lands accommodation rig order http://www.upstreamonline.com/live/1383989/CIMC-lands-accommodation-rig-order China's CIMC Raffles has landed an order for a deep-water semi-submersible accommodation rig from Hong Kong-registered C Helios Ltd. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1383989/CIMC-lands-accommodation-rig-order Wed, 19 Nov 2014 06:33:40 +0000 live Jasper bondholders to take control of drillship http://www.upstreamonline.com/live/1383984/Jasper-bondholders-to-take-control-of-drillship Singapore-listed Jasper Investments is set to hand over the drillship Jasper Explorer to bondholders as the sale of a semi-submersible rig Jasper Cosmopolitan also appears to have fallen through. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1383984/Jasper-bondholders-to-take-control-of-drillship Wed, 19 Nov 2014 04:34:48 +0000 live COSL takes delivery of new semisub http://www.upstreamonline.com/live/1383982/COSL-takes-delivery-of-new-semisub Drilling contractor China Oilfield Service Ltd (COSL) has taken delivery of a deep-water semi-submersible drilling rig and is ready to put it into operation in Chinese waters soon. (Xu Yihe) http://www.upstreamonline.com/live/1383982/COSL-takes-delivery-of-new-semisub Wed, 19 Nov 2014 03:58:17 +0000 live CIMC eyes semisub sextet http://www.upstreamonline.com/live/1383904/CIMC-eyes-semisub-sextet Chinese yard CIMC Raffles has decided to build up to six mid-water semi-submersible drilling rigs in anticipation of strong demand in the replacement market in UK North Sea. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1383904/CIMC-eyes-semisub-sextet Tue, 18 Nov 2014 13:07:40 +0000 live Rosneft ‘readies new Arctic plan’ http://www.upstreamonline.com/live/1383902/Rosneft-‘readies-new-Arctic-plan’ Rosneft will release its updated development plans for Arctic development by the end of the year as international sanctions scupper previous plans, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1383902/Rosneft-‘readies-new-Arctic-plan’ Tue, 18 Nov 2014 12:35:38 +0000 live Mnazi money in Wentworth bank http://www.upstreamonline.com/live/1383896/Mnazi-money-in-Wentworth-bank Wentworth Resources is set to finalise this quarter key credit facilities to cover its costs on the Mnazi Bay gas development project in Tanzania due to be launched early next year. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1383896/Mnazi-money-in-Wentworth-bank Tue, 18 Nov 2014 10:56:37 +0000 live Eni inks Turkmen pacts http://www.upstreamonline.com/live/1383887/Eni-inks-Turkmen-pacts Eni is firming up plans to launch exploration in the Caspian Sea off Turkmenistan after inking a pair of deals with state entities to widen its operations in the Central Asian country. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1383887/Eni-inks-Turkmen-pacts Tue, 18 Nov 2014 09:18:24 +0000 live