Russia’s energy minister expects that cuts in global shale oil production will help stabilize the oil market.
Source: Offshore
Russia: Global Shale Output Decline Will Stabilize Oil Market
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Oil prices rally, with US crude settling up 4% as indications of strong demand for gasoline overshadowed a report showing increased US crude inventories.
Source: Offshore
Oil Rallies As Gasoline Demand Offsets US Crude Build
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Marathon Oil scales back conventional exploration efforts and cuts 40 more jobs due to low oil prices.
Source: Offshore
Marathon Oil Cuts Jobs, Scales Back Conventional Exploration Efforts
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Ensco reduces onshore support jobs by an additional 14 percent to further improve efficiencies and cut expenses.
Source: Offshore
Ensco Reduces Onshore Support Jobs by 14%
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Origin Energy spuds the Amungee NW-1 well in exploration permit EP98 in the Beetaloo Basin, Northern Territory, Australia.
Source: Offshore
Origin Spuds Amungee NW-1 Well in EP98 in Australia's Beetaloo Basin
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Investment in U.K. North Sea oil and gas projects could drop as much as 80 percent by 2017 as the collapse in oil prices forces the industry to cut back.
Source: Offshore
U.K. North Sea Oil Industry Warns Investment May Fall 80% to '17
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The UK’s North Sea industry will see a further $3.1-billion cost improvement by 2016 as it suffers further job losses amid lower capital investment.
Source: Offshore
OE 2015: UKCS to See .1B Cost Improvement amid Further Jobs Pain
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Proserv CEO David Lamont warns the industry not to over-engineer assets in the North Sea if the basin is to have a future.
Source: Offshore
OE 2015: North Sea Industry Warned Not to Over-Engineer Assets
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Australia’s Armour Energy rejects takeover bid by Landbridge Group’s subsidiary Westside Corp.
Source: Offshore
Australia's Armour Energy Rejects Takeover Bid by Westside Corp.
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The oil and gas industry should use the current oil price crisis as a chance to remove operational inefficiencies and reduce costs, a DNV official says at SPE Offshore Europe.
Source: Offshore
DNV: Oil Price Downturn Opportunity to Address Inefficiencies
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