supply, demand, oil, price, BP, Petronas, SPE, ATCE

The supply-demand imbalance continues to add to commodity price instability, forcing companies to find more ways to maintain or grow production at a lower cost.

Halliburton joins forces with Palantir Solutions, will pay an $18 million Department of Labor fine and continues to market assets as part of its merger with Baker Hughes.

offshore, rig, services, oil, market, acquisitions, sales, reuters

In the offshore space, restructurings and asset sales are widely seen as likely and some CEOs are now openly talking about acquisitions.

Oil tanks at Saudi Aramco’s massive Ras Tanura terminal.

Strategy works in region so far, but competition, refocused domestic industry, may mean changes in future.

cyber security

Ninety of the 159 successful cyber intrusions targeted the U.S. Department of Energy’s Office of Science, which directs scientific research and heads 10 federal energy laboratories.

Deepwater International

According to WoodMac, its analysis of 2,222 oil fields suggests that if Brent crude falls to US $40/barrel, which is entirely possible, 1.6% of global oil supply could turn cash negative on an operating cost basis. 

At PETEX 2014, Richard Herbert, COO, Exploration at BP, highlighted a number of global trends in exploration that he believes will be factors as energy demand continues on its ongoing growth curve. 


Cobalt, offshore, Angola, Sonangol, GoM, Brackett

Cobalt International made huge discoveries in a seven-year period offshore Angola but cedes interest after a federal investigation, low oil prices and uncertainty for all oil producers.

Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.

Apache Energy Ltd., the Australian subsidiary, was sold to a private-equity fund consortium managed by Macquarie Corporate Holdings Ltd. and Brookfield Asset Management Inc. Proceeds totaled $1.9 billion.

The next energy hot spots make the move to the front burner. 

Eldar Saetre didn’t comment on Statoil’s deals strategy, but speculated more deals will follow Shell’s purchase of BG, Bloomberg said. Sellers’ high valuation expectations are problematic, he said.


The International Energy Agency, which advises the world's biggest economies on energy policy, said global oil demand was poised to climb to a five-year high this year thanks to lower prices.

Macquarie Research, Brent, WTI, oil, production, forecast, Vikas Dwivedi, oversupply

Report: Large production-growth regions in 2015 are not expected to repeat their performance in 2016.

Schlumberger, Cameron, OneSubsea, merger, Paal Gibsgaard, Jack Moore, oil, gas, services, oilfield

Top executives believe the merger creates growth opportunities that could lead to a common operating system for both the surface and subsurface, while expanding Cameron’s presence worldwide.

As a wave of decommissioning projects approaches, an energy institute says E&Ps have choices on how to approach the task.

Oil prices have fallen to below $50 per barrel, pressured by an abundance of supply and a strong dollar. The views from the IEA are more bullish than those of OPEC, which on Aug. 11 raised its forecast of oil supplies from non-member countries.


Due to the Hyundai's inability to deliver the unit within the timeframe required under the contract, the company said it has exercised its cancellation rights.

Wintershall, Germany, oil, gas, Russia, Norway, North Sea

As the energy market continues to dramatically ebb and flow with oil and gas prices consistently under pressure, Germany’s Wintershall is taking a global approach as it bids to continue pumping up its production levels.

Biennial gathering of offshore oil services sector in Aberdeen highlighted the extent of cost savings being made, Reuters said. Service companies depend on running businesses more efficiently to survive.

Barclays, global, E&P, spending, cuts, international, North America, forecast, outlook

​Barclays’ midyear 2015 update shows global upstream spending falling by 20% in 2015, slightly lower than the estimated 23% forecast in February.

LNG, supply, production, Wood Mac, final investment decision

Global LNG supply is around 250 mtpa, with projects under construction ultimately contributing another 140 mtpa of capacity.