www.upstreamonline.com http://www.upstreamonline.com/ www.upstreamonline.com Basic eyes acquisitions with PE funding http://www.upstreamonline.com/live/1407485/basic-eyes-acquisitions-with-pe-funding Texas-based Basic Energy Services has signed a letter of intent with private equity firm Quantum Energy Partners to fund future transactions and joint ventures. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407485/basic-eyes-acquisitions-with-pe-funding Fri, 31 Jul 2015 22:20:22 +0000 live Imperial profits plunge http://www.upstreamonline.com/incoming/1407463/imperial-profits-plunge Calgary-based Imperial Oil saw its profits take a huge hit in the second quarter of the year, despite an increase in oil production. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407463/imperial-profits-plunge Fri, 31 Jul 2015 15:02:37 +0000 ece_incoming Empyrean targets more Sugarloaf wells http://www.upstreamonline.com/incoming/1407455/empyrean-targets-more-sugarloaf-wells US-focused player Empyrean Energy has significantly increased its resources since the beginning of the year and is planning further appraisal and drilling at its main Sugarloaf project in Texas. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407455/empyrean-targets-more-sugarloaf-wells Fri, 31 Jul 2015 13:50:06 +0000 ece_incoming Chevron hit by impairments http://www.upstreamonline.com/live/1407431/chevron-hit-by-impairments Chevron ran up significant impairments and charges in the second quarter to send net profit crashing. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407431/chevron-hit-by-impairments Fri, 31 Jul 2015 12:36:55 +0000 live ExxonMobil profit slashed in Q2 http://www.upstreamonline.com/live/1407450/exxonmobil-profit-slashed-in-q2 ExxonMobil saw its second-quarter net profit chopped in half from a year ago as oil prices continued their slump. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407450/exxonmobil-profit-slashed-in-q2 Fri, 31 Jul 2015 12:08:45 +0000 live Sinopec ‘to relocate staff’ http://www.upstreamonline.com/incoming/1407439/sinopec-to-relocate-staff Sinopec is planning to relocate nearly 40% of its staff in its global exploration and production unit back to its headquarters, according to a report. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407439/sinopec-to-relocate-staff Fri, 31 Jul 2015 10:50:47 +0000 ece_incoming Cosco Corp dips into red http://www.upstreamonline.com/live/1407435/cosco-corp-dips-into-red Shipyard Cosco Corp (Singapore) ran up a loss in the second quarter as marine engineering activity dried up and dry-bulk shipping revenues were down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407435/cosco-corp-dips-into-red Fri, 31 Jul 2015 10:16:39 +0000 live Afren files for administration http://www.upstreamonline.com/live/1407433/afren-files-for-administration Beleaguered explorer Afren has filed for administration after failing to get financial support for a company refinancing effort. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407433/afren-files-for-administration Fri, 31 Jul 2015 09:42:16 +0000 live Arup joins marginal field initiative http://www.upstreamonline.com/incoming/1407432/arup-joins-marginal-field-initiative Arup has joined several technology players and service providers in a new venture aimed at driving down the cost of marginal field developments. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407432/arup-joins-marginal-field-initiative Fri, 31 Jul 2015 09:35:24 +0000 ece_incoming CGG narrow loss http://www.upstreamonline.com/incoming/1407428/cgg-narrow-loss French seismic player CGG has narrowed its quarterly loss, as it plans to make further spending reductions amid falling oil prices. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407428/cgg-narrow-loss Fri, 31 Jul 2015 09:00:58 +0000 ece_incoming Enoc extends Dragon offer http://www.upstreamonline.com/incoming/1407422/enoc-extends-dragon-offer Emirates National Oil Company (Enoc) has extended its buyout offer for Turkmenistan-focused Dragon Oil, after it received only a minority of shareholders acceptance. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407422/enoc-extends-dragon-offer Fri, 31 Jul 2015 08:20:36 +0000 ece_incoming M&P sees sales, output slip http://www.upstreamonline.com/live/1407419/mandp-sees-sales-output-slip Sales and production slipped in the first half at French operator Maurel & Prom (M&P) as the Africa-focused player also hit technical problems in Gabon. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407419/mandp-sees-sales-output-slip Fri, 31 Jul 2015 07:15:40 +0000 live Profit, production up at BG http://www.upstreamonline.com/live/1407417/profit-production-up-at-bg BG Group has bolstered its bottom line through asset sale gains despite revenues dropping, as production rose appreciably. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407417/profit-production-up-at-bg Fri, 31 Jul 2015 06:11:23 +0000 live Suncor triples profits, slashes spending http://www.upstreamonline.com/live/1407412/suncor-triples-profits-slashes-spending Canadian producer Suncor tripled its quarterly profits but said it would slash spending for the second time in 2015. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407412/suncor-triples-profits-slashes-spending Fri, 31 Jul 2015 02:03:37 +0000 live Cheniere signs deal for Corpus Christi gas http://www.upstreamonline.com/live/1407409/cheniere-signs-deal-for-corpus-christi-gas Houston-based Cheniere Energy has signed a sale and purchase agreement for liquefied natural gas with Central El Campesino that will see the Chilean power company take columes from the Corpus Christi LNG plant in Texas. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407409/cheniere-signs-deal-for-corpus-christi-gas Fri, 31 Jul 2015 00:50:31 +0000 live Vantage denies role in Brazil bribes http://www.upstreamonline.com/live/1407408/vantage-denies-role-in-brazil-bribes Houston-based Vantage Drilling distanced itself from reports that a powerful lobbyist in Brazil had admitted to bribing officials at state-run Petrobras. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407408/vantage-denies-role-in-brazil-bribes Fri, 31 Jul 2015 00:19:10 +0000 live Fluor sees rise in oil & gas profits http://www.upstreamonline.com/live/1407401/fluor-sees-rise-in-oil-and-gas-profits US engineering firm Fluor has reported a 21% jump in second-quarter profits for its oil and gas business segment, a spike that was offset by losses in other units. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407401/fluor-sees-rise-in-oil-and-gas-profits Thu, 30 Jul 2015 21:09:20 +0000 live Ensco 'not done' cutting costs http://www.upstreamonline.com/live/1407394/ensco-not-done-cutting-costs Drilling contractor Ensco, which has trimmed its budget this year through layoffs and taking rigs off the market, is not finished cutting costs, company chief executive Carl Trowell said on a call Thursday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407394/ensco-not-done-cutting-costs Thu, 30 Jul 2015 17:56:11 +0000 live Saipem ‘linked to Petrobras scandal’ http://www.upstreamonline.com/incoming/1407382/saipem-linked-to-petrobras-scandal Italian player Saipem was“unfairly favoured” by former Petrobras executive Renato Duque on a 2011-gas pipeline contract for the Lula offshore pre-salt field, according to reports. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407382/saipem-linked-to-petrobras-scandal Thu, 30 Jul 2015 14:29:15 +0000 ece_incoming Blast shuts Iraq-Turkey pipeline http://www.upstreamonline.com/incoming/1407379/blast-shuts-iraq-turkey-pipeline The Kirkuk-Ceyhan pipeline between Turkey and the Kurdistan region of Iraq has been shut down following an explosion in Turkey’s south-east province of Sirnak.  (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407379/blast-shuts-iraq-turkey-pipeline Thu, 30 Jul 2015 14:20:22 +0000 ece_incoming Oxy profit slumps http://www.upstreamonline.com/incoming/1407367/oxy-profit-slumps Occidental Petroleum saw its profit take a significant dive in the second quarter of the year, despite an increase in production in the period. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407367/oxy-profit-slumps Thu, 30 Jul 2015 11:48:20 +0000 ece_incoming OGDC strikes in Pakistan http://www.upstreamonline.com/incoming/1407366/ogdc-strikes-in-pakistan Pakistan’s Oil & Gas Development Company (OGDC) has made a discovery at its onshore Chak Naurang South-1 exploration well, in Punjab. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407366/ogdc-strikes-in-pakistan Thu, 30 Jul 2015 11:43:04 +0000 ece_incoming ConocoPhillips makes loss but output strong http://www.upstreamonline.com/live/1407352/conocophillips-makes-loss-but-output-strong ConocoPhillips posted a net loss in the second quarter but saw production excluding Libyan flows increase. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407352/conocophillips-makes-loss-but-output-strong Thu, 30 Jul 2015 11:08:39 +0000 live Cenovus reveals job cuts plan http://www.upstreamonline.com/live/1407356/cenovus-reveals-job-cuts-plan Cenovus is letting go up to 400 staff at its Calgary headquarter as the Canadian oil sands giant seeks further cost cuts amid a second-quarter profit drop. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407356/cenovus-reveals-job-cuts-plan Thu, 30 Jul 2015 10:37:10 +0000 live H&P profit dives on revenue drop http://www.upstreamonline.com/live/1407353/handp-profit-dives-on-revenue-drop US land-drilling specialist sees net profit chopped in half and expects tougher final quarter Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407353/handp-profit-dives-on-revenue-drop Thu, 30 Jul 2015 10:11:28 +0000 live Iona goes further with restructuring plans http://www.upstreamonline.com/incoming/1407351/iona-goes-further-with-restructuring-plans Financially troubled Iona Energy has called its bondholders to a meeting to approve a restructuring plan for the company that aims to sell off stakes in some assets to cover outstanding debt. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407351/iona-goes-further-with-restructuring-plans Thu, 30 Jul 2015 09:55:34 +0000 ece_incoming Wood Group wins Browse contract http://www.upstreamonline.com/incoming/1407350/wood-group-wins-browse-contract Wood Group Kenny has won a $6 million contract to carry out front-end engineering and design (FEED) for the Woodside Petroleum-operated proposed Browse floating liquefied natural gas (FLNG) development, off Western Australia. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407350/wood-group-wins-browse-contract Thu, 30 Jul 2015 09:50:28 +0000 ece_incoming Cape gets $15.2m Clair Ridge work http://www.upstreamonline.com/incoming/1407341/cape-gets-usd-152m-clair-ridge-work Service provider Cape has been awarded a £9.8 million ($15.2 million) contract from BP for works on the Clair Ridge project, off the UK. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407341/cape-gets-usd-152m-clair-ridge-work Thu, 30 Jul 2015 08:09:46 +0000 ece_incoming Centrica scaling back E&P http://www.upstreamonline.com/live/1407337/centrica-scaling-back-eandp UK gas player Centrica is slashing thousands of jobs as it scales back its exploration and production (E&P) division and cuts costs. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407337/centrica-scaling-back-eandp Thu, 30 Jul 2015 08:03:21 +0000 live Subsea 7 in $500m BP Egypt deal http://www.upstreamonline.com/incoming/1407334/subsea-7-in-usd-500m-bp-egypt-deal Oslo-listed contractor Subsea 7 has been awarded a $500 million contract from BP for the development of the Taurus and Libra subsea fields off Alexandria in Egypt. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407334/subsea-7-in-usd-500m-bp-egypt-deal Thu, 30 Jul 2015 07:53:17 +0000 ece_incoming Downstream saves Repsol in H1 http://www.upstreamonline.com/live/1407329/downstream-saves-repsol-in-h1 Vast improvement in downstream earnings covers loss for upstream segment at Spanish player Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407329/downstream-saves-repsol-in-h1 Thu, 30 Jul 2015 07:03:15 +0000 live Technip in red on restructure charge http://www.upstreamonline.com/live/1407328/technip-in-red-on-restructure-charge Technip slumped deep into the red in the second quarter as it took a one-off charge to restructure the company amid continued low oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407328/technip-in-red-on-restructure-charge Thu, 30 Jul 2015 06:45:38 +0000 live Eni runs up loss despite output hike http://www.upstreamonline.com/live/1407327/eni-runs-up-loss-despite-output-hike Italian major has made an adjusted net loss in the second quarter despite production increasing significantly. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407327/eni-runs-up-loss-despite-output-hike Thu, 30 Jul 2015 06:28:49 +0000 live Shell chops capex, jobs http://www.upstreamonline.com/live/1407326/shell-chops-capex-jobs Shell has cut its expected capital expenditure for the year and warned of thousands of job losses as low oil prices and weaker output sent profit down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407326/shell-chops-capex-jobs Thu, 30 Jul 2015 06:19:13 +0000 live Recon to buy Chinese company http://www.upstreamonline.com/live/1407323/recon-to-buy-chinese-company Beijing-based Recon Technology has agreed to acquire Chinese oilfield services provider Qinghai Huayou Downhole Technologies for a combination of cash and shares. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1407323/recon-to-buy-chinese-company Thu, 30 Jul 2015 04:35:43 +0000 live Atwood profits slide http://www.upstreamonline.com/live/1407320/atwood-profits-slide Offshore driller Atwood Oceanics reported a dip in second-quarter profits as revenues fell over the previous quarter. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407320/atwood-profits-slide Wed, 29 Jul 2015 23:39:24 +0000 live Noble posts lower profits, rigs keep working http://www.upstreamonline.com/live/1407319/noble-posts-lower-profits-rigs-keep-working Offshore driller Noble Corporation reported lower quarterly profits but managed to keep its rig fleet largely active in a market that has weighed heavily on oil and gas contractors. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407319/noble-posts-lower-profits-rigs-keep-working Wed, 29 Jul 2015 23:07:14 +0000 live Ensco posts profits http://www.upstreamonline.com/live/1407315/ensco-posts-profits Drilling contractor Ensco Wednesday reported second-quarter profits as drilling costs declined and 2014 impairment charges were not repeated this year. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407315/ensco-posts-profits Wed, 29 Jul 2015 22:51:37 +0000 live Whiting profits drop as production rises http://www.upstreamonline.com/live/1407311/whiting-profits-drop-as-production-rises US independent Whiting Petroleum has reported heavy second-quarter financial losses even as production climbs. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407311/whiting-profits-drop-as-production-rises Wed, 29 Jul 2015 21:39:55 +0000 live OMV ‘to sell stake in Rosebank’ http://www.upstreamonline.com/incoming/1407203/omv-to-sell-stake-in-rosebank OMV has reportedly put up a stake in the Chevron-operated Rosebank project in the UK North Sea up for sale. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407203/omv-to-sell-stake-in-rosebank Wed, 29 Jul 2015 16:06:42 +0000 ece_incoming Total ‘jumping back into Iran’ http://www.upstreamonline.com/incoming/1407198/total-jumping-back-into-iran French player Total is preparing to jump back into developing fields in Iran, according to local reports in the Middle Eastern country. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407198/total-jumping-back-into-iran Wed, 29 Jul 2015 15:19:21 +0000 ece_incoming Lekoil suspends Otakikpo well http://www.upstreamonline.com/incoming/1407194/lekoil-suspends-otakikpo-well Lekoil has temporarily suspended activities at a well on its Otakikpo field in the south-eastern part of the Niger Delta, off Nigeria. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407194/lekoil-suspends-otakikpo-well Wed, 29 Jul 2015 13:46:56 +0000 ece_incoming Saipem warns of hefty loss http://www.upstreamonline.com/live/1407193/saipem-warns-of-hefty-loss Saipem has warned of a significant loss this year as it booked hefty impairments in the second quarter and set about restructuring the company, which will see thousands of jobs lost. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407193/saipem-warns-of-hefty-loss Wed, 29 Jul 2015 13:39:06 +0000 live Dynamic confirms Aramco LTA deal http://www.upstreamonline.com/live/1407182/dynamic-confirms-aramco-lta-deal Confirmation of contract leaves just Saipem to speak up on lucrative awards in Saudi Arabia Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407182/dynamic-confirms-aramco-lta-deal Wed, 29 Jul 2015 12:32:58 +0000 live Hess dives into the red http://www.upstreamonline.com/live/1407180/hess-dives-into-the-red US independent Hess plunged to a significant loss in the second quarter as it booked a sizeable impairment and reduced revenues, despite an output hike. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407180/hess-dives-into-the-red Wed, 29 Jul 2015 12:15:18 +0000 live Marathon, OMV return Croatia blocks http://www.upstreamonline.com/incoming/1407178/marathon-omv-return-croatia-blocks Houston-based Marathon Oil and Austrian state player OMV have returned seven offshore exploration licences to Croatia, due to low oil prices and investments cut backs. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407178/marathon-omv-return-croatia-blocks Wed, 29 Jul 2015 12:12:35 +0000 ece_incoming Novatek profit jumps on liquids output http://www.upstreamonline.com/live/1407179/novatek-profit-jumps-on-liquids-output Rising liquids volumes sent profit up at Russian private player Novatek in the second quarter as it battled falling crude prices in part through a devaluation of the US dollar. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407179/novatek-profit-jumps-on-liquids-output Wed, 29 Jul 2015 11:24:04 +0000 live SembMarine profit drops http://www.upstreamonline.com/live/1407174/sembmarine-profit-drops Reduced sales, some higher operating expenses and increased finance costs sent net profit down at Singapore-based yard in the second quarter. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407174/sembmarine-profit-drops Wed, 29 Jul 2015 10:32:52 +0000 live Sea Trucks in Permaducto Mexico charter http://www.upstreamonline.com/incoming/1407168/sea-trucks-in-permaducto-mexico-charter Sea Trucks Group has been awarded a charter for its Jascon 31 vessel from Mexico’s Permaducto for work on the Ku Maloob Zaap (KMZ) oilfield complex in the Gulf of Mexico. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407168/sea-trucks-in-permaducto-mexico-charter Wed, 29 Jul 2015 10:06:49 +0000 ece_incoming Statoil starts Gullfaks South flows http://www.upstreamonline.com/incoming/1407166/statoil-starts-gullfaks-south-flows Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea has started, Norwegian operator Statoil said on Wednesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407166/statoil-starts-gullfaks-south-flows Wed, 29 Jul 2015 09:26:46 +0000 ece_incoming LGO hits more Trinidad pay http://www.upstreamonline.com/incoming/1407160/lgo-hits-more-trinidad-pay LGO Energy has discovered recoverable hydrocarbons at its latest development well on the Goudron field in Trinidad, the London listed player said on Wednesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407160/lgo-hits-more-trinidad-pay Wed, 29 Jul 2015 08:15:56 +0000 ece_incoming Subsea 7 cuts staff as profit chopped http://www.upstreamonline.com/live/1407158/subsea-7-cuts-staff-as-profit-chopped Subsea 7 is to cut its staff by around 2500 within the next year as it reacts to continued poor market conditions, which sent its second quarter profit down. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407158/subsea-7-cuts-staff-as-profit-chopped Wed, 29 Jul 2015 07:14:21 +0000 live Tullow cuts losses in first half http://www.upstreamonline.com/live/1407156/tullow-cuts-losses-in-first-half Tullow Oil continued to bleed red ink in the first half as revenues sank on the low oil price and asset sales. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407156/tullow-cuts-losses-in-first-half Wed, 29 Jul 2015 06:49:41 +0000 live Total in $876m West of Shetland sale http://www.upstreamonline.com/live/1407157/total-in-usd-876m-west-of-shetland-sale SSE E&P UK takes sizeable stake in numerous fields off UK from French player Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407157/total-in-usd-876m-west-of-shetland-sale Wed, 29 Jul 2015 06:35:19 +0000 live Refining helps Total in Q2 http://www.upstreamonline.com/live/1407155/refining-helps-total-in-q2 French supemajor keeps profit drop to a minimum with high refining sales and higher output Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407155/refining-helps-total-in-q2 Wed, 29 Jul 2015 06:22:08 +0000 live Chevron to cut 1500 jobs http://www.upstreamonline.com/live/1407141/chevron-to-cut-1500-jobs US supermajor Chevron will axe 1500 corporate positions in the coming months in an effort to cut $1 billion from its budget, a company spokeswoman said Tuesday. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407141/chevron-to-cut-1500-jobs Tue, 28 Jul 2015 21:32:59 +0000 live Anadarko profits as drilling costs fall http://www.upstreamonline.com/live/1407140/anadarko-profits-as-drilling-costs-fall US independent Anadarko Petroleum posted a lower quarterly profit, but touted its production growth and efficiency gains in onshore drilling. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1407140/anadarko-profits-as-drilling-costs-fall Tue, 28 Jul 2015 21:11:44 +0000 live Pemex loss widens http://www.upstreamonline.com/live/1407116/pemex-loss-widens Mexico's Pemex saw its net loss grow in the second quarter as output fell amid continued low oil prices. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407116/pemex-loss-widens Tue, 28 Jul 2015 15:15:33 +0000 live Saipem, Koreans in $1.5bn Kuwait deal http://www.upstreamonline.com/live/1407096/saipem-koreans-in-usd-15bn-kuwait-deal Italy’s Saipem and two South Korean contracting giants have shared a deal worth $1.5 billion to build a marine export terminal for Kuwait National Petroleum Company (KNPC), according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407096/saipem-koreans-in-usd-15bn-kuwait-deal Tue, 28 Jul 2015 13:31:12 +0000 live Husky sees falling profits http://www.upstreamonline.com/incoming/1407080/husky-sees-falling-profits Husky Energy has seen its profits take a significant hit in the second quarter of the year, as the Canadian player was impacted by increased corporate taxes and write-offs. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407080/husky-sees-falling-profits Tue, 28 Jul 2015 11:51:00 +0000 ece_incoming Blast rocks Iran, Turkey pipeline http://www.upstreamonline.com/incoming/1407074/blast-rocks-iran-turkey-pipeline The pipeline carrying natural gas from Iran to Turkey has been halted after an attack resulted in an explosion in Turkey's eastern province of Agri. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407074/blast-rocks-iran-turkey-pipeline Tue, 28 Jul 2015 11:11:42 +0000 ece_incoming NOV profit, revenues chopped http://www.upstreamonline.com/live/1407075/nov-profit-revenues-chopped National Oilwell Varco has seen profit dive in the second quarter on much weaker revenues as the oil market continues to drag its heels. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407075/nov-profit-revenues-chopped Tue, 28 Jul 2015 11:08:40 +0000 live Vermilion farms into German licences http://www.upstreamonline.com/incoming/1407067/vermilion-farms-into-german-licences Canada’s Vermilion Energy has signed a farm-in agreement with Mobil Erdgas-Erdol (MEEG) and BEB Erdgas und Erdol (BEB) for a participating interest in 19 onshore exploration licences in north-west Germany. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407067/vermilion-farms-into-german-licences Tue, 28 Jul 2015 09:41:39 +0000 ece_incoming Pantheon spuds East Texas well http://www.upstreamonline.com/incoming/1407064/pantheon-spuds-east-texas-well US-based Pantheon Resources has spudded the first well at its onshore Polk Counties project in East Texas, which had been postponed due to bad weather. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407064/pantheon-spuds-east-texas-well Tue, 28 Jul 2015 09:00:52 +0000 ece_incoming Clontarf, Petrel to re-apply for Ghana licence http://www.upstreamonline.com/incoming/1407045/clontarf-petrel-to-re-apply-for-ghana-licence Irish players Clontarf Energy and Petrel Resources has been invited by the Ghanaian Ministry of Energy to re-apply for an exploration licence in the Tano basin, off Ghana. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407045/clontarf-petrel-to-re-apply-for-ghana-licence Tue, 28 Jul 2015 08:14:16 +0000 ece_incoming PA submits new Zarat plan http://www.upstreamonline.com/incoming/1407030/pa-submits-new-zarat-plan PA Resources has submitted an updated Zarat field plan of development to the Tunisian authorities, the Swedish player said on Tuesday. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1407030/pa-submits-new-zarat-plan Tue, 28 Jul 2015 07:40:49 +0000 ece_incoming Asset sales keep Statoil up http://www.upstreamonline.com/live/1407029/asset-sales-keep-statoil-up Statoil had large disposal gains to thank for keeping it out of the red in the second quarter as revenues waned despite a production hike. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407029/asset-sales-keep-statoil-up Tue, 28 Jul 2015 06:57:02 +0000 live BP in red on Macondo payout http://www.upstreamonline.com/live/1407028/bp-in-red-on-macondo-payout A $9.8 billion non-cash charge due to a recent settlement over the Deepwater Horizon disaster sent BP crashing to a large loss in the second quarter. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1407028/bp-in-red-on-macondo-payout Tue, 28 Jul 2015 06:50:21 +0000 live SAExploration wins seismic shoot http://www.upstreamonline.com/live/1407017/saexploration-wins-seismic-shoot Services provider SAExploration has been awarded a $47 million contract for ocean-bottom marine seismic data acquisition services. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407017/saexploration-wins-seismic-shoot Mon, 27 Jul 2015 23:15:08 +0000 live Baker Hughes layoffs hit 13,000 http://www.upstreamonline.com/live/1407011/baker-hughes-layoffs-hit-13000 Oil services giant Baker Hughes has slashed 13,000 workers from its payroll since the start of the year, according to regulatory filings. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1407011/baker-hughes-layoffs-hit-13000 Mon, 27 Jul 2015 21:21:38 +0000 live Sefton ‘unaware’ of chairman’s past http://www.upstreamonline.com/live/1406997/sefton-unaware-of-chairmans-past Sefton Resources has denied it had any knowledge of a former chairman’s criminal past before his former name emerged. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406997/sefton-unaware-of-chairmans-past Mon, 27 Jul 2015 16:38:53 +0000 live Cabot swings to quarterly loss http://www.upstreamonline.com/incoming/1406959/cabot-swings-to-quarterly-loss Cabot Oil & Gas has seen its profit turn to loss in the second quarter of the year, as the US player was hit by falling prices for both natural gas and oil. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406959/cabot-swings-to-quarterly-loss Mon, 27 Jul 2015 12:06:52 +0000 ece_incoming Exodus not about to happen http://www.upstreamonline.com/live/1406960/exodus-not-about-to-happen ConocoPhillips’ decision to cancel a contract for a high-spec offshore drilling rig and scale back its deep-water exploration activities is not going to be the first in a new trend of declining deep-water interest in favour on unconventional onshore activity. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406960/exodus-not-about-to-happen Mon, 27 Jul 2015 11:56:21 +0000 live Goodrich in $118m Eagle Ford sale http://www.upstreamonline.com/incoming/1406947/goodrich-in-usd-118m-eagle-ford-sale Goodrich Petroleum has entered into an $118 million agreement to sell its proved reserves and associated leasehold in the Eagle Ford shale in LaSalle and Frio Counties, Texas. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406947/goodrich-in-usd-118m-eagle-ford-sale Mon, 27 Jul 2015 10:56:47 +0000 ece_incoming BlackRock ‘cleared’ over Saipem share sale http://www.upstreamonline.com/live/1406946/blackrock-cleared-over-saipem-share-sale Italian authorities have cleared US investment firm BlackRock of any wrongdoing in relation to a share sale in Italian contractor Saipem in 2013, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406946/blackrock-cleared-over-saipem-share-sale Mon, 27 Jul 2015 10:48:00 +0000 live ConocoPhillips, CNOOC in China lawsuit http://www.upstreamonline.com/incoming/1406939/conocophillips-cnooc-in-china-lawsuit Environmental activists sue companies over 2011 oil spill in landmark case: reportTwo non-profit organisations in China have filled a lawsuit against US player ConocoPhillips and China National Offshore Oil Corporation (CNOOC) over a 2011 oil spill, according to reports. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406939/conocophillips-cnooc-in-china-lawsuit Mon, 27 Jul 2015 10:23:37 +0000 ece_incoming ConocoPhillips in $142m Maersk deal http://www.upstreamonline.com/live/1406913/conocophillips-in-usd-142m-maersk-deal ConocoPhillips has signed a contract extension deal with Maersk Drilling for a jack-up rig off Norway worth $142 million. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406913/conocophillips-in-usd-142m-maersk-deal Mon, 27 Jul 2015 09:43:11 +0000 live Galp sees boost in quarterly profit http://www.upstreamonline.com/incoming/1406912/galp-sees-boost-in-quarterly-profit Galp Energia has seen its quarterly profit jump, mostly due to an improved operating performance. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406912/galp-sees-boost-in-quarterly-profit Mon, 27 Jul 2015 08:45:40 +0000 ece_incoming AWE sees gas shows at Waitsia probe http://www.upstreamonline.com/incoming/1406908/awe-sees-gas-shows-at-waitsia-probe Sydney-based AWE has encountered elevated gas shows at its Waitsia-2 appraisal well in Western Australia's onshore Perth basin. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406908/awe-sees-gas-shows-at-waitsia-probe Mon, 27 Jul 2015 07:54:00 +0000 ece_incoming Cue seeks Ironbark partner http://www.upstreamonline.com/live/1406894/cue-seeks-ironbark-partner Cue Energy has begun a process to introduce a farm-in partner to help drill the large Ironbark gas prospect on Australia's North West Shelf. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1406894/cue-seeks-ironbark-partner Mon, 27 Jul 2015 02:06:16 +0000 live Indonesian boost at Oyong http://www.upstreamonline.com/live/1406889/indonesian-boost-at-oyong Santos and its partners in the producing Oyong oil and gas field off Indonesia have negotiated a "significant" gas price increase with the existing buyer, according to one of the joint venture partners. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1406889/indonesian-boost-at-oyong Mon, 27 Jul 2015 01:43:55 +0000 live Odebrecht CEO charged in corruption probe http://www.upstreamonline.com/live/1406840/odebrecht-ceo-charged-in-corruption-probe Brazilian prosecutors presented formal charges on Friday against the chief executive of Latin America's largest engineering firm and other senior executives detained last month in a landmark investigation meant to show that the country's elite are not above the law. caroline.evans@upstreamonline.com (Caroline Evans) http://www.upstreamonline.com/live/1406840/odebrecht-ceo-charged-in-corruption-probe Fri, 24 Jul 2015 22:54:17 +0000 live Encana cuts another 200 jobs http://www.upstreamonline.com/live/1406821/encana-cuts-another-200-jobs Canada's Encana said it reduced its workforce by about 200 employees this month, bringing its total layoffs to 1400 since late 2013. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1406821/encana-cuts-another-200-jobs Fri, 24 Jul 2015 20:19:07 +0000 live Worker killed at Midstates drill site http://www.upstreamonline.com/live/1406799/worker-killed-at-midstates-drill-site A worker was killed and another was injured this week at a Midstates Petroleum drilling site in north-western Oklahoma, the operator has confirmed. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1406799/worker-killed-at-midstates-drill-site Fri, 24 Jul 2015 18:30:52 +0000 live Petroceltic set for Irish court http://www.upstreamonline.com/live/1406762/petroceltic-set-for-irish-court Petroceltic International is to be hauled through the Irish court system after a significant shareholder and agitator for change filed legal proceedings in Dublin. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406762/petroceltic-set-for-irish-court Fri, 24 Jul 2015 13:39:30 +0000 live Encana sees massive quarterly loss http://www.upstreamonline.com/incoming/1406756/encana-sees-massive-quarterly-loss Calgary-based Encana has seen a massive loss in the second quarter of the year, despite a strong operational performance. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406756/encana-sees-massive-quarterly-loss Fri, 24 Jul 2015 12:36:44 +0000 ece_incoming Saipem ‘eyes restructure plan’ http://www.upstreamonline.com/live/1406750/saipem-eyes-restructure-plan Italian oilfield services giant Saipem is working on a restructuring plan as it and rivals adjust to a prolonged low oil price environment, according to a report. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406750/saipem-eyes-restructure-plan Fri, 24 Jul 2015 11:45:19 +0000 live LeniGas doubles Petro Australis share http://www.upstreamonline.com/incoming/1406751/lenigas-doubles-petro-australis-share LeniGas Cuba has doubled its shareholding in Cuba-focused oil and gas player Petro Australis, which has rights in a production sharing contract covering the onshore Block 9, north-west Cuba. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406751/lenigas-doubles-petro-australis-share Fri, 24 Jul 2015 11:24:29 +0000 ece_incoming OMV ups Madagascar stake http://www.upstreamonline.com/incoming/1406741/omv-ups-madagascar-stake OMV has increased its working interest in the Grand Prix block in the Morondava basin, off Madagascar. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406741/omv-ups-madagascar-stake Fri, 24 Jul 2015 09:07:50 +0000 ece_incoming Global gives up on Mozambique permit http://www.upstreamonline.com/live/1406740/global-gives-up-on-mozambique-permit Australian junior Global Petroleum is quitting a permit off Mozambique due mainly to a lack of progress with authorities, while it also looks to cut costs. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406740/global-gives-up-on-mozambique-permit Fri, 24 Jul 2015 08:36:33 +0000 live Petrobras workers on strike http://www.upstreamonline.com/incoming/1406738/petrobras-workers-on-strike Brazilian state-run player Petrobras saw its oil workers walk out on Friday, as they began a 24-hours strike in an effort to prevent the loss of “thousands” of jobs within the company and stop it from selling $15.1 billion-worth of assets by the end of 2016. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406738/petrobras-workers-on-strike Fri, 24 Jul 2015 08:19:56 +0000 ece_incoming Petro-king to provide direction http://www.upstreamonline.com/live/1406731/petro-king-to-provide-direction Hong Kong-listed Petro-king Oilfield Services said it has won a contract worth about HK$189 million to provide directional drilling technical services to Katwell Energy Technology. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1406731/petro-king-to-provide-direction Fri, 24 Jul 2015 05:09:43 +0000 live Keppel aims at 'non-drilling' market http://www.upstreamonline.com/live/1406729/keppel-aims-at-non-drilling-market Singapore offshore construction giant Keppel Offshore & Marine intends to focus on niche markets in which there is still good demand given the downturn in the drilling rig market. russell.searancke@upstreamonline.com (Russell Searancke) http://www.upstreamonline.com/live/1406729/keppel-aims-at-non-drilling-market Fri, 24 Jul 2015 02:07:22 +0000 live Hercules to file for bankruptcy 'within weeks' http://www.upstreamonline.com/live/1406727/hercules-to-file-for-bankruptcy-within-weeks Jack-up owner Hercules Offshore said it expects to file for bankruptcy protection in about three weeks and hopes to emerge several months later with a restructured balance sheet. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1406727/hercules-to-file-for-bankruptcy-within-weeks Thu, 23 Jul 2015 22:49:40 +0000 live Pacific Zonda delayed again http://www.upstreamonline.com/live/1406701/pacific-zonda-delayed-again Delivery of newbuild Pacific Drilling drillship Zonda has been pushed back again, adding one more rig to the growing list of units being delayed as contractors try to wait out a brutal oil and gas downturn. Luke.Johnson@upstreamonline.com (Luke Johnson) http://www.upstreamonline.com/live/1406701/pacific-zonda-delayed-again Thu, 23 Jul 2015 19:19:33 +0000 live JKX in Ukraine interim arbitration win http://www.upstreamonline.com/live/1406695/jkx-in-ukraine-interim-arbitration-win UK Junior JKX Oil & Gas has won an interim international arbitration award against Ukraine over the percentage of royalties imposed on its production in the Eastern European country. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406695/jkx-in-ukraine-interim-arbitration-win Thu, 23 Jul 2015 16:03:24 +0000 live Cuadrilla to appeal fracking refusal http://www.upstreamonline.com/incoming/1406691/cuadrilla-to-appeal-fracking-refusal Cuadrilla Resources has plans to appeal last month’s decision by a UK local government that rejected its applications to use hydraulic fracturing to drill for shale gas in north-west England. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406691/cuadrilla-to-appeal-fracking-refusal Thu, 23 Jul 2015 14:34:23 +0000 ece_incoming Cameron down in Q2 http://www.upstreamonline.com/live/1406679/cameron-down-in-q2 US services player Cameron saw profit drop in the second quarter but largely managed to keep costs under control. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406679/cameron-down-in-q2 Thu, 23 Jul 2015 12:47:12 +0000 live Freeport-McMoRan in $1.8bn loss http://www.upstreamonline.com/live/1406678/freeport-mcmoran-in-usd-18bn-loss Freeport-McMoRan has run up a net loss of $1.8 billion in the second quarter as sales dived and it booked large oil and gas impairments. Eoin.Ocinneide@upstreamonline.com (Eoin O'Cinneide) http://www.upstreamonline.com/live/1406678/freeport-mcmoran-in-usd-18bn-loss Thu, 23 Jul 2015 12:12:41 +0000 live Precision furthers loss http://www.upstreamonline.com/incoming/1406671/precision-furthers-loss Precision Drilling has seen larger quarterly losses, impacted by lower North America drilling activity. (Anamaria Deduleasa) http://www.upstreamonline.com/incoming/1406671/precision-furthers-loss Thu, 23 Jul 2015 11:42:33 +0000 ece_incoming