www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Petrobras 'urges delay' for fuel IPO http://www.upstreamonline.com/live/1409891/petrobras-urges-delay-for-fuel-ipo Management at Brazil's state-controlled Petrobras has urged the company's board to delay a planned initial public offering of its fuel distribution unit as market conditions soured, according to reports. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409891/petrobras-urges-delay-for-fuel-ipo Thu, 27 Aug 2015 23:15:29 +0000 live Hercules de-listed from Nasdaq http://www.upstreamonline.com/live/1409889/hercules-de-listed-from-nasdaq Struggling shallow-water driller Hercules Offshore will officially be de-listed from the Nasdaq exchange next month after its shares failed to recover from their sub-$1 value. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409889/hercules-de-listed-from-nasdaq Thu, 27 Aug 2015 22:59:44 +0000 live Settlement reached in decade-long oil spill http://www.upstreamonline.com/live/1409888/settlement-reached-in-decade-long-oil-spill A New Orleans independent will pay $400,000 for coastal research as part of a settlement in a lawsuit over a US Gulf of Mexico oil spill that started in 2004, according to reports. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409888/settlement-reached-in-decade-long-oil-spill Thu, 27 Aug 2015 22:55:37 +0000 live Icahn takes Freeport-McMoran stake http://www.upstreamonline.com/live/1409887/icahn-takes-freeport-mcmoran-stake Activist investor Carl Icahn has purchased a significant stake in struggling mining conglomorate Freeport-McMoran, according to a regulatory filing. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409887/icahn-takes-freeport-mcmoran-stake Thu, 27 Aug 2015 21:29:52 +0000 live OMV gets new upstream boss http://www.upstreamonline.com/live/1409877/omv-gets-new-upstream-boss Austrian state player OMV has appointed a new head of upstream as its current boss leaves the company ahead of schedule. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409877/omv-gets-new-upstream-boss Thu, 27 Aug 2015 14:11:05 +0000 live Hoegh back in black http://www.upstreamonline.com/live/1409876/hoegh-back-in-black Hoegh LNG turned around a year-earlier loss in the second quarter on increased revenue generation after start-up of a floating storage and regasification unit off Egypt. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409876/hoegh-back-in-black Thu, 27 Aug 2015 13:56:41 +0000 live Profits drop for PetroChina http://www.upstreamonline.com/live/1409875/profits-drop-for-petrochina PetroChina, China's biggest oil and gas producer, reported a 63% drop in first-half profits, with earnings upstream and in the marketing segment hit by lower prices, while earnings from natural gas jumped. Steve.Marshall@upstreamonline.com (Steve Marshall), (News Wires) http://www.upstreamonline.com/live/1409875/profits-drop-for-petrochina Thu, 27 Aug 2015 12:49:37 +0000 live McDermott wins 'record' Aramco deal http://www.upstreamonline.com/live/1409873/mcdermott-wins-record-aramco-deal McDermott International has scooped what it says is the "largest single award" in its history in the Middle East, with a deal from Saudi Aramco. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409873/mcdermott-wins-record-aramco-deal Thu, 27 Aug 2015 12:06:28 +0000 live CIMC Enric buying SOEG http://www.upstreamonline.com/live/1409869/cimc-enric-buying-soeg Hong Kong-listed energy transport and storage service provider CIMC Enric has signed a commercial contract to buy Sinopacific Offshore Engineering (SOEG) in eastern China. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409869/cimc-enric-buying-soeg Thu, 27 Aug 2015 11:56:16 +0000 live NADL to lay up second rig http://www.upstreamonline.com/live/1409871/nadl-to-lay-up-second-rig North Atlantic Drilling Ltd (NADL) is set to lay up another rig after the expiry of a long-term contract with Statoil this month as it saw second-quarter profits drop on a significant cut in revenue amid a drilling market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409871/nadl-to-lay-up-second-rig Thu, 27 Aug 2015 11:14:46 +0000 live Impairment sinks Bumi into red http://www.upstreamonline.com/live/1409868/impairment-sinks-bumi-into-red Malaysian contractor Bumi Armada sank to a significant loss in the second quarter as a large impairment was added to reduced revenues for the period. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409868/impairment-sinks-bumi-into-red Thu, 27 Aug 2015 10:49:07 +0000 live Chiyoda and Emas in subsea tie-up http://www.upstreamonline.com/live/1409866/chiyoda-and-emas-in-subsea-tie-up Japanese engineering and construction player Chiyoda has agreed to forge a 50:50 subsea joint venture with Emas AMC under a memorandum of understanding disclosed on Thursday. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409866/chiyoda-and-emas-in-subsea-tie-up Thu, 27 Aug 2015 10:30:47 +0000 live Noreco tightens belt amid loss http://www.upstreamonline.com/live/1409864/noreco-tightens-belt-amid-loss Noreco saw its loss widen in the second quarter as the Norwegian independent has cut its exposure to field spending through recent asset disposals. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409864/noreco-tightens-belt-amid-loss Thu, 27 Aug 2015 09:32:50 +0000 live Seadrill stalls newbuild deliveries http://www.upstreamonline.com/live/1409862/seadrill-stalls-newbuild-deliveries Seadrill has been forced to delay delivery of a raft of 10 newbuilds as the contractor battles a drilling market slump driven by a contract drought and overcapacity that is putting pressure on dayrates amid low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409862/seadrill-stalls-newbuild-deliveries Thu, 27 Aug 2015 08:38:33 +0000 live Amec Foster Wheeler stays strong http://www.upstreamonline.com/live/1409851/amec-foster-wheeler-stays-strong Amec Foster Wheeler kept net profit steady in the first half as revenues grew, but costs associated with the integration of the two companies gnawed at the top line. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409851/amec-foster-wheeler-stays-strong Thu, 27 Aug 2015 08:06:10 +0000 live Sevan faces Developer decision http://www.upstreamonline.com/live/1409847/sevan-faces-developer-decision The clock is ticking towards a deadline due shortly for Sevan Drilling to decide whether to further delay delivery of an unemployed newbuild rig from a Chinese yard – or scrap the contract. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409847/sevan-faces-developer-decision Thu, 27 Aug 2015 07:30:15 +0000 live Gulf Keystone loss widens http://www.upstreamonline.com/live/1409845/gulf-keystone-loss-widens Gulf Keystone Petroleum slipped further into the red in the first half as arrears owed for oil production in Iraqi Kurdistan grew and depreciation on its key asset in the region soared. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409845/gulf-keystone-loss-widens Thu, 27 Aug 2015 07:26:08 +0000 live Lamprell reviewing earlier strategy http://www.upstreamonline.com/live/1409843/lamprell-reviewing-earlier-strategy Lamprell is reviewing an earlier strategy review to see if it is “sufficiently robust to withstand the current industry challenges”. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409843/lamprell-reviewing-earlier-strategy Thu, 27 Aug 2015 07:06:37 +0000 live Prosafe wins new Shell charter http://www.upstreamonline.com/live/1409842/prosafe-wins-new-shell-charter Norwegian flotel player Prosafe has secured a short-term deal with Shell for use of its accommodation services unit Regalia in the UK North Sea. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409842/prosafe-wins-new-shell-charter Thu, 27 Aug 2015 06:41:15 +0000 live Total sells midstream assets http://www.upstreamonline.com/live/1409841/total-sells-midstream-assets French giant Total has agreed to sell its North Sea midstream assets to North Sea Midstream Partners in a £585 million ($906 million) deal. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409841/total-sells-midstream-assets Thu, 27 Aug 2015 06:34:13 +0000 live Guilty plea in Stena Clyde case http://www.upstreamonline.com/live/1409839/guilty-plea-in-stena-clyde-case Rig owner Stena Drilling as entered a guilty plea in a court case that revolves around the deaths of two workers on the semi-submersible Stena Clyde in 2012. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409839/guilty-plea-in-stena-clyde-case Thu, 27 Aug 2015 04:38:10 +0000 live NZOG sinks to a loss http://www.upstreamonline.com/live/1409835/nzog-sinks-to-a-loss Low oil prices have led New Zealand Oil & Gas (NZOG) to book impairments that offset a rise in revenue and dragged the company into the red. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409835/nzog-sinks-to-a-loss Thu, 27 Aug 2015 00:42:56 +0000 live McDermott to close Singapore office http://www.upstreamonline.com/live/1409711/mcdermott-to-close-singapore-office US contractor McDermott International confirmed that it will close its office in Singapore and relocate its regional headquarters to Kuala Lumpur. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409711/mcdermott-to-close-singapore-office Wed, 26 Aug 2015 18:43:53 +0000 live Sinopec profits slip in first half http://www.upstreamonline.com/live/1409699/sinopec-profits-slip-in-first-half Chinese state-owned integrated Sinopec saw its profits fall in the first half of 2015 as oil and gas output slipped. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409699/sinopec-profits-slip-in-first-half Wed, 26 Aug 2015 16:54:27 +0000 live Kibsgaard aims for Cameron ‘synergies’ http://www.upstreamonline.com/live/1409675/kibsgaard-aims-for-cameron-synergies Schlumberger will immediately look at its corporate and back-office costs once its proposed $14.8 billion acquisition of US services player Cameron has closed. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409675/kibsgaard-aims-for-cameron-synergies Wed, 26 Aug 2015 15:21:16 +0000 live Chinese investor in 'Yamal LNG deal' http://www.upstreamonline.com/live/1409677/chinese-investor-in-yamal-lng-deal Russian independent gas producer Novatek is reported to be close to finalising a deal with a Chinese investor to sell a 10% stake worth an estimated $1.4 billion in its under-development Yamal LNG project in West Siberia. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409677/chinese-investor-in-yamal-lng-deal Wed, 26 Aug 2015 12:50:34 +0000 live CNOOC Ltd profit dives http://www.upstreamonline.com/live/1409674/cnooc-ltd-profit-dives China’s CNOOC Ltd is braced for the “severe economic environment” to continue for at least the rest of the year as the state player saw first-half profit slashed despite improved output. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409674/cnooc-ltd-profit-dives Wed, 26 Aug 2015 11:54:21 +0000 live Schlumberger to acquire Cameron http://www.upstreamonline.com/live/1409671/schlumberger-to-acquire-cameron Oilfield services giant Schlumberger is set to acquire fellow US contractor Cameron under a $14.8 billion stock-and-cash deal in the latest mega-merger in the sector to combat the impact of low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409671/schlumberger-to-acquire-cameron Wed, 26 Aug 2015 10:41:10 +0000 live Impairments sink Odfjell bottom line http://www.upstreamonline.com/live/1409657/impairments-sink-odfjell-bottom-line Odfjell Drilling sank into the red in the second quarter on hefty impairments on a pair of drillships as it also faces idle time for two of its rigs that is set to hit revenue going forward amid a drilling market slump. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409657/impairments-sink-odfjell-bottom-line Wed, 26 Aug 2015 07:52:18 +0000 live Cape stays strong in H1 http://www.upstreamonline.com/live/1409654/cape-stays-strong-in-h1 A strong performance in the Middle East and North Africa (MENA) region and the UK boosted revenue in the first half at UK contractor Cape, which kept net profit steady. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409654/cape-stays-strong-in-h1 Wed, 26 Aug 2015 07:23:29 +0000 live Impairments drag WorleyParsons into the red http://www.upstreamonline.com/live/1409648/impairments-drag-worleyparsons-into-the-red Impairments have led Australian engineering player WorleyParsons to a loss while revenues are also down on the previous financial year. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409648/impairments-drag-worleyparsons-into-the-red Wed, 26 Aug 2015 03:00:12 +0000 live Drillsearch posts loss http://www.upstreamonline.com/live/1409647/drillsearch-posts-loss Australia's Drillsearch Energy posted a loss for the recent financial year as impairments and lower revenues hit its bottomline. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409647/drillsearch-posts-loss Wed, 26 Aug 2015 01:42:21 +0000 live Ecopetrol, JX Nippon in Brazil partnership http://www.upstreamonline.com/live/1409644/ecopetrol-jx-nippon-in-brazil-partnership Ecopetrol has brought on board JX Nippon Oil & Gas as a partner in shallow-water exploration block in Brazil's equatorial margin. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409644/ecopetrol-jx-nippon-in-brazil-partnership Tue, 25 Aug 2015 21:51:36 +0000 live Hercules lands Eni contract http://www.upstreamonline.com/live/1409642/hercules-lands-eni-contract US driller Hercules Offshore has entered a 20-day contract with Italy's Eni for a rig in the Gulf of Mexico. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409642/hercules-lands-eni-contract Tue, 25 Aug 2015 21:24:46 +0000 live Cobalt names Young for finance chief http://www.upstreamonline.com/live/1409639/cobalt-names-young-for-finance-chief Houston-based Cobalt International Energy has hired Shane Young for the role of chief financial officer, effective 1 September. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409639/cobalt-names-young-for-finance-chief Tue, 25 Aug 2015 20:48:04 +0000 live Drummond to take over as Key Energy chief http://www.upstreamonline.com/live/1409638/drummond-to-take-over-as-key-energy-chief US services provider Key Energy has announced a succession plan in which current president and chief operating officer Robert Drummond will take over the position of chief executive in the next year caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409638/drummond-to-take-over-as-key-energy-chief Tue, 25 Aug 2015 20:26:51 +0000 live Linn names new finance chief http://www.upstreamonline.com/live/1409630/linn-names-new-finance-chief Houston-based Linn Energy, a master-limited partnership, has named a new chief financial officer after its last one left to pursue other opportunities. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409630/linn-names-new-finance-chief Tue, 25 Aug 2015 16:45:40 +0000 live ANP approves majors in new bid round http://www.upstreamonline.com/live/1409592/anp-approves-majors-in-new-bid-round Brazil's regulator has approved 22 more companies to bid in its 13th licensing round, scheduled to take place on 7 October. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409592/anp-approves-majors-in-new-bid-round Tue, 25 Aug 2015 15:10:20 +0000 live Mosman eyes Origin NZ assets http://www.upstreamonline.com/live/1409586/mosman-eyes-origin-nz-assets Australian junior is on the verge of selling out of a trio of onshore fields in New Zealand in a deal with two parties totaling NK$10 million (US$6.53 million). Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409586/mosman-eyes-origin-nz-assets Tue, 25 Aug 2015 14:36:32 +0000 live Encana in $850m Haynesville assets sale http://www.upstreamonline.com/live/1409541/encana-in-usd-850m-haynesville-assets-sale Canada's Encana is making an exit from northern Louisiana as it sells its Haynesville natural gas assets to GeoSouthern for US$850 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409541/encana-in-usd-850m-haynesville-assets-sale Tue, 25 Aug 2015 10:47:42 +0000 live Solstad in vessel lay-ups http://www.upstreamonline.com/live/1409503/solstad-in-vessel-lay-ups Solstad Offshore is set to lay up another 10 vessels to leave it with almost a third of its fleet out of action amid a weak offshore market, with the move also to result in about 300 staff being laid off. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409503/solstad-in-vessel-lay-ups Tue, 25 Aug 2015 08:44:41 +0000 live Rising tide for Gulf Marine http://www.upstreamonline.com/live/1409490/rising-tide-for-gulf-marine Business remains buoyant for Gulf Marine Services (GMS) as the Middle East-focused self-elevating support vessel specialist defied a sinking offshore vessel market with stable profits on higher revenue in the first half. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409490/rising-tide-for-gulf-marine Tue, 25 Aug 2015 07:57:19 +0000 live Costs drag Petrofac into the red http://www.upstreamonline.com/live/1409479/costs-drag-petrofac-into-the-red Oilfield service provider Petrofac posted a loss for the first half of the year as costs related to a gas field development contract off the UK offset a rise in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409479/costs-drag-petrofac-into-the-red Tue, 25 Aug 2015 07:03:23 +0000 live Horizon increases profits http://www.upstreamonline.com/live/1409474/horizon-increases-profits Australia-listed Horizon Oil posted a rise in profits for the recent financial year as a tax benefit, instead of deduction, helped offset a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409474/horizon-increases-profits Tue, 25 Aug 2015 05:53:43 +0000 live Dialog posts profit increase http://www.upstreamonline.com/live/1409471/dialog-posts-profit-increase Malaysia's Dialog Group posted a rise in quarterly profits as lower operating expenses offset a fall in revenue. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409471/dialog-posts-profit-increase Tue, 25 Aug 2015 01:42:42 +0000 live Senex dives to a loss http://www.upstreamonline.com/live/1409470/senex-dives-to-a-loss Australia's Senex Energy plummeted into the red as lower oil prices hit revenues and also resulted in the company booking an impairment against certain assets. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409470/senex-dives-to-a-loss Tue, 25 Aug 2015 00:26:27 +0000 live Hamm's ex-wife sues over Bakken sale http://www.upstreamonline.com/live/1409462/hamms-ex-wife-sues-over-bakken-sale The ex-wife of Continental Resources chief executive Harold Hamm has accused the Oklahoma oil man of selling a company the couple owned below market value. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409462/hamms-ex-wife-sues-over-bakken-sale Mon, 24 Aug 2015 22:29:53 +0000 live Icahn directors named to Cheniere board http://www.upstreamonline.com/live/1409460/icahn-directors-named-to-cheniere-board US liquefied natural gas player Cheniere named two managing directors from activist investor Carl Icahn's investment firm to its board of directors Monday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409460/icahn-directors-named-to-cheniere-board Mon, 24 Aug 2015 20:09:36 +0000 live TransCanada, utilities reach Energy East deal http://www.upstreamonline.com/live/1409456/transcanada-utilities-reach-energy-east-deal A dispute between TransCanada and gas distributors in Eastern Canada over the effects the proposed C$12-billion Energy East pipeline would have on natural gas supply and costs has been resolved. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409456/transcanada-utilities-reach-energy-east-deal Mon, 24 Aug 2015 18:24:54 +0000 live Two dead in Daewoo shipyard fire http://www.upstreamonline.com/live/1409449/two-dead-in-daewoo-shipyard-fire Two workers have reportedly died after a fire broke out Monday on a very large gas carrier (VLGC) under construction at troubled South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409449/two-dead-in-daewoo-shipyard-fire Mon, 24 Aug 2015 16:54:14 +0000 live Det Norske bags Barents stake http://www.upstreamonline.com/live/1409424/det-norske-bags-barents-stake Det Norske is set to enlarge its Barents Sea acreage with the acquisition of a stake in a frontier licence near OMV’s Wisting discovery under a newly minted deal with North Energy. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409424/det-norske-bags-barents-stake Mon, 24 Aug 2015 12:14:15 +0000 live Cobalt in $1.75bn Angola block sale http://www.upstreamonline.com/live/1409417/cobalt-in-usd-175bn-angola-block-sale Cobalt International Energy has hatched a $1.75 billion deal to shed its large stakes in a pair of Angolan offshore blocks to state giant Sonangol. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409417/cobalt-in-usd-175bn-angola-block-sale Mon, 24 Aug 2015 11:06:54 +0000 live Endurance delivered for Songa http://www.upstreamonline.com/live/1409415/endurance-delivered-for-songa Songa Offshore has taken delivery of the second of four so-called Category D rigs from a South Korean yard, with the pair set to be up and running on lucrative long-term contracts with Statoil off Norway by year-end. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409415/endurance-delivered-for-songa Mon, 24 Aug 2015 10:45:50 +0000 live Oil shares tumble on China woes http://www.upstreamonline.com/live/1409413/oil-shares-tumble-on-china-woes Oil companies’ share prices took a dive on Monday due to fears of an economic slowdown in China, as the crude price also sank lower. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409413/oil-shares-tumble-on-china-woes Mon, 24 Aug 2015 10:21:49 +0000 live Gulf Keystone hires UK MP http://www.upstreamonline.com/live/1409380/gulf-keystone-hires-uk-mp Iraqi Kurdistan-focused Gulf Keystone Petroleum has hired a serving member of parliament in the UK to join its management team. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409380/gulf-keystone-hires-uk-mp Mon, 24 Aug 2015 08:36:00 +0000 live San Leon flags takeover interest http://www.upstreamonline.com/live/1409365/san-leon-flags-takeover-interest Shares in San Leon Energy shot up on Monday after the Irish junior revealed it has received an approach for a possible takeover of the company. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409365/san-leon-flags-takeover-interest Mon, 24 Aug 2015 07:26:18 +0000 live CNOOC appoints new president http://www.upstreamonline.com/live/1409363/cnooc-appoints-new-president The Chinese government has made Liu Jian the president of state-run China National Offshore Oil Corporation (CNOOC), the country’s top offshore oil and gas operator. (Xu Yihe) http://www.upstreamonline.com/live/1409363/cnooc-appoints-new-president Mon, 24 Aug 2015 06:22:42 +0000 live Promising signs at Praslin-1 http://www.upstreamonline.com/live/1409361/promising-signs-at-praslin-1 Buru Energy has encountered signs of hydrocarbons while drilling its latest exploration well in Western Australia's onshore Canning basin. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409361/promising-signs-at-praslin-1 Mon, 24 Aug 2015 03:52:03 +0000 live AWE drops into the red http://www.upstreamonline.com/live/1409360/awe-drops-into-the-red Australia's AWE fell to a loss over the recent financial year on the back of lower oil prices and impairments. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409360/awe-drops-into-the-red Mon, 24 Aug 2015 02:40:15 +0000 live Beach plummets to a loss http://www.upstreamonline.com/live/1409359/beach-plummets-to-a-loss Australia's largest onshore oil producer Beach Energy plummeted to a loss in the recent financial year due to impairments, while lower production and prices hit revenues. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409359/beach-plummets-to-a-loss Mon, 24 Aug 2015 01:42:28 +0000 live TMX pipeline review postponed http://www.upstreamonline.com/live/1409346/tmx-pipeline-review-postponed Kinder Morgan's proposed Trans Mountain Expansion (TMX) pipeline hit another snag with the National Energy Board of Canada after oral arguments in the regulatory review were postponed until further notice. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409346/tmx-pipeline-review-postponed Sun, 23 Aug 2015 10:00:52 +0000 live Cimarex Rogersville tests falls flat http://www.upstreamonline.com/live/1409343/cimarex-rogersville-tests-falls-flat Cimarex Energy’s first well in the Rogersville Shale in Kentucky showed low production during initial tests that were conducted more than a year ago but the company has permitted another wildcat in the emerging play. Noah.Brenner@nhst.no (Noah Brenner) http://www.upstreamonline.com/live/1409343/cimarex-rogersville-tests-falls-flat Fri, 21 Aug 2015 19:53:09 +0000 live Ups and downs in perfect storm http://www.upstreamonline.com/live/1409313/ups-and-downs-in-perfect-storm Oslo-listed Farstad Shipping has been forced to write down the value of its offshore vessel fleet as shipowners suffer from lower utilisation and dayrates in an oversupplied North Sea market. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409313/ups-and-downs-in-perfect-storm Fri, 21 Aug 2015 10:27:59 +0000 live Prosafe hit by yard stays http://www.upstreamonline.com/live/1409308/prosafe-hit-by-yard-stays Norwegian flotel player Prosafe saw its earnings chopped in the second quarter as it faces higher costs for refit and repair work on a trio of units, with prolonged yard stays also hitting fleet utilisation. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409308/prosafe-hit-by-yard-stays Fri, 21 Aug 2015 08:29:23 +0000 live Songa returns to profit http://www.upstreamonline.com/live/1409301/songa-returns-to-profit Songa Offshore bucked the trend of falling earnings for rig contractors in the second quarter as it reported a modest profit to reverse a year-earlier loss on high utilisation for its operating three-rig fleet. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409301/songa-returns-to-profit Fri, 21 Aug 2015 07:49:29 +0000 live Rose eyes assets, cuts drill plans http://www.upstreamonline.com/live/1409300/rose-eyes-assets-cuts-drill-plans UK player Rose Petroleum is on the hunt for producing assets as it scales back drilling plans in the US on account of the oil price slump. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409300/rose-eyes-assets-cuts-drill-plans Fri, 21 Aug 2015 07:46:46 +0000 live LGO, Trinity lock horns over stalled sale http://www.upstreamonline.com/live/1409298/lgo-trinity-lock-horns-over-stalled-sale A spat between a pair of London-listed explorers over a stalled sale-and-purchase deal for a block in Trinidad could beat a path to court as each party accuses the other of a breach of contract. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409298/lgo-trinity-lock-horns-over-stalled-sale Fri, 21 Aug 2015 07:29:44 +0000 live Enoc closes in on Dragon takeover http://www.upstreamonline.com/live/1409296/enoc-closes-in-on-dragon-takeover Dubai-owned company receives acceptances representing 90.1% of the shares it does not already own Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409296/enoc-closes-in-on-dragon-takeover Fri, 21 Aug 2015 07:02:00 +0000 live Knox to leave Santos http://www.upstreamonline.com/live/1409289/knox-to-leave-santos David Knox has announced that he will step down as the chief executive of Australian company Santos after seven years in the top job. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409289/knox-to-leave-santos Fri, 21 Aug 2015 03:01:28 +0000 live Santos posts 82% fall in profits http://www.upstreamonline.com/live/1409288/santos-posts-82-percent-fall-in-profits Australian independent Santos saw profits tumble during the first half of the year as lower oil prices and higher exploration expenses offset a rise in production. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409288/santos-posts-82-percent-fall-in-profits Fri, 21 Aug 2015 02:58:52 +0000 live Oceaneering names new CFO http://www.upstreamonline.com/live/1409274/oceaneering-names-new-cfo Houston-based Oceaneering International has named a new chief financial officer and a new chief operating officer. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409274/oceaneering-names-new-cfo Thu, 20 Aug 2015 23:31:59 +0000 live Ecopetrol to set up offshore unit http://www.upstreamonline.com/live/1409273/ecopetrol-to-set-up-offshore-unit State-controlled Ecopetrol of Colombia will set up a company focused on developing offshore resources in the South American country. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409273/ecopetrol-to-set-up-offshore-unit Thu, 20 Aug 2015 23:10:00 +0000 live Eagle Energy bags Alberta assets http://www.upstreamonline.com/live/1409271/eagle-energy-bags-alberta-assets Calgary-based Eagle Energy Trust has acquired an unnamed private company for CAD $30 million. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409271/eagle-energy-bags-alberta-assets Thu, 20 Aug 2015 22:39:18 +0000 live Miller Energy to pay $5m in fraud penalties http://www.upstreamonline.com/live/1409256/miller-energy-to-pay-usd-5m-in-fraud-penalties Alaska pure-play Miller Energy has reached an agreement with the US Securities and Exchange Commission over allegations the company grossly inflated the value of some of its assets. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409256/miller-energy-to-pay-usd-5m-in-fraud-penalties Thu, 20 Aug 2015 18:59:19 +0000 live Shells hands Petronas keys to MLNG Dua http://www.upstreamonline.com/live/1409233/shells-hands-petronas-keys-to-mlng-dua Shell has completed the handover of its stake in offshore facilities associated with one Malaysian production sharing contract to state oil giant Petronas. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409233/shells-hands-petronas-keys-to-mlng-dua Thu, 20 Aug 2015 15:33:27 +0000 live Lukoil closes Sinopec Kazakh sale deal http://www.upstreamonline.com/live/1409240/lukoil-closes-sinopec-kazakh-sale-deal Lukoil has finally closed an asset sale deal in Kazakhstan to Chinese giant Sinopec, with the deal value coming down more than $100 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409240/lukoil-closes-sinopec-kazakh-sale-deal Thu, 20 Aug 2015 14:36:43 +0000 live Petroceltic chases blogger over claims http://www.upstreamonline.com/live/1409203/petroceltic-chases-blogger-over-claims Petroceltic International is attempting to unmask a blogger who has made allegations against the company and specific employees involved in the Irish junior’s Algerian operations. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409203/petroceltic-chases-blogger-over-claims Thu, 20 Aug 2015 13:40:31 +0000 live Zennor gets private equity cash http://www.upstreamonline.com/live/1409222/zennor-gets-private-equity-cash UK minnow Zennor Petroleum has its eye on asset acquisitions as it is taken over by a private equity player that is willing to invest up to $400 million in the company. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409222/zennor-gets-private-equity-cash Thu, 20 Aug 2015 11:01:54 +0000 live Dussafu writedown for Panoro http://www.upstreamonline.com/live/1409219/dussafu-writedown-for-panoro Panoro Energy has written down the carrying value of the Dussafu Marine block off Gabon by half after US operator Harvest Natural Resources decided to shelve a field development project due to low oil prices. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409219/dussafu-writedown-for-panoro Thu, 20 Aug 2015 10:22:55 +0000 live Siem sails into red ink http://www.upstreamonline.com/live/1409212/siem-sails-into-red-ink Siem Offshore sank into the red in the second quarter after cutting the value of its fleet by $56 million as low utilisation and dayrates on weak market activity holed its bottom line. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409212/siem-sails-into-red-ink Thu, 20 Aug 2015 09:33:51 +0000 live Eurasia profit drops http://www.upstreamonline.com/live/1409205/eurasia-profit-drops A weak home currency and a poor oil market sent net profit plunging at Russian rig owner Eurasia Drilling in the first half. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409205/eurasia-profit-drops Thu, 20 Aug 2015 09:11:20 +0000 live EMGS in fleet cutbacks http://www.upstreamonline.com/live/1409204/emgs-in-fleet-cutbacks Electromagnetic Geoservices (EMGS) has confirmed it is slashing fleet capacity as part of a cost-cutting effort amid a market slump as it has decided not to renew charters for a pair of vessels after earlier laying up one of its four units. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409204/emgs-in-fleet-cutbacks Thu, 20 Aug 2015 09:03:49 +0000 live Fluor in COOEC tie-up http://www.upstreamonline.com/live/1409201/fluor-in-cooec-tie-up US offshore engineering contracting firm Fluor has set up a joint venture with China’s Offshore Oil Engineering Company (COOEC). Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409201/fluor-in-cooec-tie-up Thu, 20 Aug 2015 08:12:17 +0000 live Soma seeks UN meet over fraud probe http://www.upstreamonline.com/live/1409196/soma-seeks-un-meet-over-fraud-probe Soma Oil & Gas has sought a meeting with the head of the United Nations’ Security Council Committee as it continues to fight allegations of corruption in Somalia that have made it the target of a serious fraud probe in the UK. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409196/soma-seeks-un-meet-over-fraud-probe Thu, 20 Aug 2015 07:55:24 +0000 live DNO targets Kurdistan export cash http://www.upstreamonline.com/live/1409198/dno-targets-kurdistan-export-cash DNO International is seeking to recover about $829 million in outstanding payments for exports from its Tawke oilfield in Kurdistan and is in talks with the regional government to achieve regular crude export payments. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409198/dno-targets-kurdistan-export-cash Thu, 20 Aug 2015 07:55:01 +0000 live Premier slumps to a loss http://www.upstreamonline.com/live/1409197/premier-slumps-to-a-loss UK independent Premier Oil plummeted to a loss in the first half of the year as result of lower revenues and impairments. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409197/premier-slumps-to-a-loss Thu, 20 Aug 2015 07:21:29 +0000 live Origin falls into the red http://www.upstreamonline.com/live/1409192/origin-falls-into-the-red Australia's Origin Energy has earmarked further cost cuts as it dove to a loss in the recent financial year with asset write-downs hitting the company's bottom line and low oil prices could mean lower than expected contributions from its flagship liquefied natural gas project. Josh.Lewis@upstreamonline.com (Josh Lewis) http://www.upstreamonline.com/live/1409192/origin-falls-into-the-red Thu, 20 Aug 2015 03:16:13 +0000 live Goodrich CFO resigns http://www.upstreamonline.com/live/1409190/goodrich-cfo-resigns The chief financial officer of struggling US onshore producer Goodrich Petroleum has resigned to take a similar position at a private company. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409190/goodrich-cfo-resigns Wed, 19 Aug 2015 23:23:19 +0000 live Transocean wins pair of extensions http://www.upstreamonline.com/live/1409189/transocean-wins-pair-of-extensions Rig contractor Transocean has been awarded extensions on two contracts: one offshore India and the other in the Norwegian North Sea. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409189/transocean-wins-pair-of-extensions Wed, 19 Aug 2015 23:21:59 +0000 live Eni sticks to 'end of summer' deadline at Goliat http://www.upstreamonline.com/live/1409187/eni-sticks-to-end-of-summer-deadline-at-goliat Italian operator Eni insists it will start up oil production from the Goliat project, Norway's first Arctic oil development, in "a few weeks" despite continued delays. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409187/eni-sticks-to-end-of-summer-deadline-at-goliat Wed, 19 Aug 2015 21:25:25 +0000 live Daewoo deletes Vantage rig order http://www.upstreamonline.com/live/1409183/daewoo-deletes-vantage-rig-order South Korea's Daewoo Shipbuilding & Marine Engineering has deleted an order for a newbuild deep-water drillship after the customer missed a payment. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1409183/daewoo-deletes-vantage-rig-order Wed, 19 Aug 2015 21:02:35 +0000 live Gazprom Neft completes Arctic well http://www.upstreamonline.com/live/1409048/gazprom-neft-completes-arctic-well Gazprom Neft has completed a second well on the Prirazlomnoye oilfield in Russia's Pechora Sea, the company confirmed to Upstream Wednesday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1409048/gazprom-neft-completes-arctic-well Wed, 19 Aug 2015 17:12:03 +0000 live Ultra Deep in DSCV unit order http://www.upstreamonline.com/live/1409017/ultra-deep-in-dscv-unit-order China Merchants Heavy Industry has won an order to build a multi-purpose diving support construction vessel from a Singapore-based owner. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409017/ultra-deep-in-dscv-unit-order Wed, 19 Aug 2015 10:59:33 +0000 live Rosenberg yard 'sheds more staff' http://www.upstreamonline.com/live/1409016/rosenberg-yard-sheds-more-staff Rosenberg WorleyParsons has reportedly laid off more workers as an industry slump has taken its toll on orders at the the Norwegian offshore yard. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409016/rosenberg-yard-sheds-more-staff Wed, 19 Aug 2015 10:07:48 +0000 live New rig licence for Sevan Marine http://www.upstreamonline.com/live/1409009/new-rig-licence-for-sevan-marine Sevan Marine has issued a licence to a mystery drilling player to develop a new cylindrical rig based on the Norwegian floater technology player’s proprietary design that it is touting for Arctic and harsh-environment waters. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409009/new-rig-licence-for-sevan-marine Wed, 19 Aug 2015 09:06:05 +0000 live EnQuest sees Alma-Galia oil ‘in weeks’ http://www.upstreamonline.com/live/1409002/enquest-sees-alma-galia-oil-in-weeks EnQuest expects first production from its Alma-Galia field in the UK North Sea within weeks as the London-listed player also kept its full-year output guidance intact. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1409002/enquest-sees-alma-galia-oil-in-weeks Wed, 19 Aug 2015 08:11:51 +0000 live Sea Dragon to swallow Madison http://www.upstreamonline.com/live/1409001/sea-dragon-to-swallow-madison Canadian player Sea Dragon Energy is set to acquire compatriot Madison PetroGas under a proposed all-stock merger deal unveiled on Wednesday. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1409001/sea-dragon-to-swallow-madison Wed, 19 Aug 2015 07:48:00 +0000 live Profits boost for Dong http://www.upstreamonline.com/live/1408999/profits-boost-for-dong Dong Energy boosted its bottom line in the first half, bucking a sector trend of losses due to the strength of its offshore wind business, and has increased its full-year earnings guidance. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1408999/profits-boost-for-dong Wed, 19 Aug 2015 07:30:02 +0000 live North Energy wields costs knife http://www.upstreamonline.com/live/1408995/north-energy-wields-costs-knife North Energy is wielding the knife for further cutbacks after reporting more red ink in the second quarter on higher exploration costs due to a pair of failed wildcats off Norway. Steve.Marshall@upstreamonline.com (Steve Marshall) http://www.upstreamonline.com/live/1408995/north-energy-wields-costs-knife Wed, 19 Aug 2015 07:09:02 +0000 live Awilco posts profit rise http://www.upstreamonline.com/live/1408994/awilco-posts-profit-rise Awilco Drilling boosted net profit in the second quarter but sees further rig stacking in the UK North Sea market this year and next. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1408994/awilco-posts-profit-rise Wed, 19 Aug 2015 07:02:23 +0000 live