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Low oil prices hurting U.S. shale operations
Slumping oil prices are putting pressure on U.S. drillers. The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as ...
North America | Thursday, October 23, 2014
Soaring oil production, weak demand eclipse geopolitics
Despite nearly unprecedented geopolitical concerns, both US and global crude prices have decreased during the third quarter of 2014 due to a surge in domestic production and weak oil demand growth. While the latest Department of Energy forecasts project continued incre ...
North America | Thursday, October 23, 2014
Fluor and Technip awarded RAPID refinery facilities project in Malaysia
Fluor Corporation (NYSE: FLR), in a joint venture with Technip, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd. for the PETRONAS Refinery and Petrochemical Integrated Development (RAPID) project loc ...
Asia Far East | Thursday, October 23, 2014
Give us a break...
I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operative in the UKCS. This of course would be very welcome. BUT, what it doesn’t do is ...
West Europe | Thursday, October 23, 2014
Husky Energy on track with third quarter results
Husky Energy (TSX:HSE) delivered another steady performance in the third quarter, with its balanced growth and focused integration strategy contributing to predictable results. "With all areas of our business, we are carefully staging our activities to not only pr ...
North America | Thursday, October 23, 2014
Oil price, Tullow, Chariot, FOGL, Sundry-Weatherford-Core Labs-BP-Total-Range-Northern Pet-Jupiter-Tangiers, and finally...
Oil price Ok, so we whispered it a little too loudly and the oil price came off again last night after a poor set of inventory stats. These came in from the EIA as a 7.1m build which was a little more than double the consensus and much higher than the API number which ...
West Europe | Thursday, October 23, 2014
Neste Oil issues interim report for January-September 2014
President & CEO Matti Lievonen: "While the general outlook for European refining remains challenging, the short-term market situation has clearly improved. Neste Oil has continued to implement internal improvement actions, and most of the targeted result improveme ...
West Europe | Thursday, October 23, 2014
Nostra Terra announces spudding of 18th development well
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to announce the spudding of the 18th development well in which it has an interest in the Chisholm Trail Prospect, located in Oklahoma. ...
North America | Thursday, October 23, 2014
Leave it to $80 crude to shake up US petrochemicals
There’s something about $80/barrel crude that gets petrochemical markets in the US all riled up. As the energy complex slowly emerges from its latest dip, let’s take a look at how some of these key markets fared over the past two weeks. We’ll start w ...
North America | Thursday, October 23, 2014
Weatherford International reports third quarter 2014 results
Weatherford International plc (NYSE: WFT) reported net income before charges of $248 million ($0.32 diluted earnings per share on a non-GAAP basis) on revenues of $3.88 billion for the third quarter of 2014. Third Quarter 2014 Highlights Completed the sale of the Rus ...
North America | Thursday, October 23, 2014
Magnum Hunter Resources announces closing of new credit facilities
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) announce that it has closed on two new credit facilities and completely refinanced its prior revolving credit facility. The new credit facilities consist of i) a ...
North America | Thursday, October 23, 2014
Baron Oil obtains approval from Perupetro
Baron Oil plc, the independent oil and gas exploration and production company focused on Latin America, is pleased to make the following announcements. Block Z-34 Baron Oil Plc (formerly Gold Oil), along with partner Union Oil and Gas Group Corporation ("Union&qu ...
South America | Thursday, October 23, 2014
TGS announces Q3 revenues of USD 190 million
TGS reports net revenues of USD 190 million in Q3 2014, compared to USD 191 million in Q3 2013. Earnings before interest and taxes (EBIT) totaled USD 71 million, corresponding to an EBIT margin of 38%. Cash flow from operations was USD 184 million, an increase of 57% fr ...
West Europe | Thursday, October 23, 2014

Wednesday, October 22, 2014

Madagascar Oil announces Board changes
Madagascar Oil (AIM:MOIL) today announces the following Board changes, all of which are taking place with immediate effect. Mr Teck Soon Kong, a Non-Executive Director of the Company and nominated representative of Benchmark Advantage Fund Ltd and BMK Resources Limit ...
West Europe | Wednesday, October 22, 2014
Petro One Energy receives email from KMDC
Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K1) reported on October 8, 2014 that it had closed a private placement of $3,260,842.75 on October 7, 2014 and that it had received confirmation from Korea Myanmar Development Company Ltd. ("KMDC") that that ...
North America | Wednesday, October 22, 2014
Oil price, Nabors, Shell, Amerisur, Nostra Terra, Sundry and finally...
Oil price Whisper it very quietly... but we might just have seen the bottom for the oil price, at least for the time being. Now this is no cause for breaking out the champagne nor does it signify a meaningful rally but there are a couple of small signs that the major p ...
West Europe | Wednesday, October 22, 2014