Saudis Say Oil Price Will Stabilize; UAE Sees Rebalancing By OPEC

Oil ministers from the 12 nations in the OPEC will discuss their combined production Nov. 27 after prices plunged 32% since June. 

Pétrolia Resumes Drilling In Gaspé

Pétrolia has resumed drilling at the Haldimand 4 site, located in the wooded area near Sandy Beach in Canada, according to a news release.

Kangaroo-2 Strikes Oil Column Offshore Brazil

The Kangaroo-2 appraisal well offshore Brazil has encountered multiple oil-bearing zones, Karoon Gas Australia Ltd. said in a news release.

Pemex Installs Compression Platform In GoM

Pemex has installed a compression platform in its Tsimin-Xux development in the Gulf of Mexico using the float-over method, a first for the state-owned company.

Philippines Extends Drilling Time For Hawkeye-1 Well

The Philippines Department of Energy has granted an extension of Sub Phase 4 of service contract 55 (SC55) for 12 months, Otto Energy Ltd. said in a news release.

Seabox Will Lead Subsea Water Treatment JIP

Seabox will lead a joint industry project to bring advanced subsea water treatment closer to full-scale field development.

MDU Resources Appoints New Treasurer

MDU Resources Group Inc. has named Jason L. Vollmer to the position of treasurer and director of cash and risk management.

Woodside Gains Reconnaissance License In Morocco

Woodside has entered into a contract for an exclusive reconnaissance license with the national oil company of the Kingdom of Morocco to explore a block offshore Morocco.

Otto Receives Extension For Drilling Of Hawkeye-1 Well

The Philippines Department of Energy has granted an extension of Sub Phase 4 of Service Contract 55 for a period of 12 months.

Gazprom Picks Vietnam To Tap Russia’s Arctic Sea Oil Deposit

The oil arm of state-run Gazprom started exclusive talks with the Vietnamese producer on joint development of the Dolginskoye Field, which holds more than 200 million tons (about 1.5 Bbbl) of estimated reserves.

SEC Launches Investigation Concerning Petrobras

Petrobras, the state-run oil company at the center of a kickback scandal in Brazil, said it is under investigation by the U.S. Securities and Exchange Commission (SEC) and will provide related documents.

Daewoo, Saipem Secure $1 Billion Engineering, Construction Contract

Saipem, through its controlled company ERSAI Caspian Contractor LLC, has been awarded a major engineering and construction contract in the Caspian region.