The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant Wood Mackenzie Ltd.
Source: Offshore
Oil Industry to Cut Trillion in Spending After Price Fall
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Oil’s battle to reclaim $50 a barrel may have left it in a sticky situation, where the price is too low to lure fresh investor bulls and too high to force more production offline.
Source: Offshore
At /B, Oil Risks 'Reverse Goldilocks' Syndrome
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Ultra Petroleum Corp. was a shale success story. Then came the bust.
Source: Offshore
Shale Loses 9 Billion Barrels of Reserves After SEC Inquiries
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Mineral Resources acquires ERM Power’s 18.72 percent stake in Australia’s Empire Oil and Gas as it expands into the liquefied natural gas business.
Source: Offshore
Mineral Resources Becomes Key Shareholder of Australia's Empire Oil & Gas
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Exxon Mobil Corp. and BHP Billiton Ltd. are studying plans to sell depleting energy assets in Australia, including the largest oil field ever discovered in the nation.
Source: Offshore
Exxon, BHP Examining Sale of Joint Australia Oil and Gas Assets
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Santos plans to commence sidetrack operations at AAL-4X appraisal well in Northwest Natuna block in the Natuna Sea offshore Indonesia.
Source: Offshore
Santos Plans Sidetrack Ops at AAL-4X Well in Indonesia's NW Natuna PSC
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Rosneft OJSC is mimicking the strategy of its biggest global competitor to expand in India as the world’s top oil exporters vie for business in the fastest-growing crude-consuming nation.
Source: Offshore
Rosneft Mimics Saudi Strategy To Get Foothold In Indian Market
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PT Seascape Surveys Indonesia secures a one year charter-in contract from PT Nusa Perkasa Permai for the Mermaid Nusantara dive support vessel for work off Indonesia.
Source: Offshore
Mermaid Maritime's Unit Bags DSV Charter-in Deal for Work Off Indonesia
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Karoon Gas Australia issues a default notice to Pacific Exploration and Production Corp. (PEPC) for an overdue payment regarding their Brazil’s Santos Basin blocks.
Source: Offshore
Karoon Issues Default Notice to Santos Basin Block Partner PEPC
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French oil and gas company Total plans to buy Belgian green energy provider Lampiris, said Belgian daily De Standaard, citing unnamed sources.
Source: Offshore
Total To Buy Belgian Green Energy Provider Lampiris
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