OPEC forecasts that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the erosion of a supply glut.
Source: Offshore
OPEC Sees Oil Glut Shrinking In Second Half Of Year
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Statoil, along with its partners, discovers oil offshore Canada as it finalizes a 19-month exploration drilling program.
Source: Offshore
Statoil Completes Canada Exploration Program, Finds Oil
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The US Energy Department is making the case that the nation’s emergency oil supply needs an overhaul before a massive drawdown begins later this decade.
Source: Offshore
US Seeks Oil-Reserve Overhaul to Ease Mandatory Drawdowns
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BP and Det norske agree to merge their Norwegian businesses in a $1.3 billion share deal to cut costs, increase profitability and challenge Statoil’s Norwegian offshore dominance.
Source: Offshore
BP And Det Norske Agree .3B Norwegian Oil Merger
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Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years – a clear sign some believe today’s bust is sowing the seeds of the next boom.
Source: Offshore
How Far Can Oil Rally? Options Investors Bet on Surge Above 0
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Croatia signs contracts with one local firm and one Canadian company that had been awarded onshore oil and gas exploration blocks in the north and east of the country.
Source: Offshore
Croatia Signs Contracts for Onshore Oil and Gas Exploration
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The Russian central bank assumes an average oil price of $38 per barrel in its base scenario for 2016, says the bank’s Governor Elvira Nabiullina.
Source: Offshore
Russia Cenbank Assumes 2016 Average Oil Price Of Per Barrel
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Oil prices settled down 3 percent on Friday after data showing the US oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures.
Source: Offshore
Oil Down 3% as US Drillers Add rigs, Strong Dollar Weighs
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It’s longer than three soccer fields, heavier than two aircraft carriers and powerful enough to chill gas into liquid colder than the surface of Jupiter. And its maiden voyage couldn’t have come at a worse time.
Source: Offshore
Energy World's Newest Supership Misses the Boat on LNG Pricing
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Beach Energy names Morne Engelbrecht to replace Kathryn Presser as chief financial officer.
Source: Offshore
Beach Energy Names Morne Engelbrecht as CFO to Replace Kathryn Presser
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