Petrobras Board Extends CEO Pedro Parente's Term

Parente's new term began on March 26, when the board vote took place and will end on March 26, 2019, according to press representatives for Petrobras, as the company is known.

First Oil Flows From Flyndre Field

Maersk Oil CEO Gretchen Watkins said first oil at Flyndre represents new production for both the U.K. and Norway, Reuters reported.

Hurricane’s Halifax Finds Hydrocarbons West Of Shetland Islands

Hurricane Energy’s Halifax well has encountered a hydrocarbon column of at least 1,156 m (3,792 ft), supporting its view that the prospect is linked to the Lancaster Field to form a single large hydrocarbon accumulation, the company said in a news release March 27.

Iraqi Oil Minister: Market May Influence Extending Cuts Into Second-Half 2017

The agreement has elevated the price of crude to more than $50/bbl, but it helped U.S. shale oil producers boost their output, hampering efforts to reduce global stockpiles, Reuters reported.

Trump To Sign Order Easing Energy Regulations

President Donald Trump will sign an order on March 28 aimed at making it easier for companies to produce energy in the U.S., administration officials said on March 26.

Statoil's Njord, Bauge Project Will Produce 248 Million Barrels Per Day

Pending oil ministry formal approval, Njord ownership will be Statoil (operator) with 20%; Engie E&P Norge AS with 20%; DEA Norge AS with 50%; Faroe Petroleum with 7.5%; and VNG Norge AS with 2.5%, Reuters reported.

TechnipFMC Wins Kaikias Contract From Shell

The contract, awarded by Shell Offshore, is for the delivery, integration and installation of the subsea production system (SPS) and subsea riser, jumper and flowline (SURF) equipment for the Kaikias deepwater project.

BP Makes Third Gas Discovery In Egypt’s North Damietta Concession

The Qattameya Shallow-1 exploration well, drilled using the El Qaher II jackup rig, struck 37 m (121 ft) of net gas pay in high quality Pliocene sandstones, the company said.

OPEC, Non-OPEC To Review Extending Output Cut Deal

A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months.

Schlumberger, Weatherford To Form OneStim JV

The JV will offer 'one of the broadest multistage completions portfolios in the market combined with one of the largest hydraulic fracturing fleets in the industry,' according to the release.

Update: Oil Rises In Late Trade, Still Down On The Week

Unless OPEC extends the curbs beyond June or makes bigger cuts, traders say oil prices are at risk of falling further.

Saipem, Siemens Sign Subsea Technology Pact

Saipem and Siemens have signed a joint development agreement aimed at qualifying and promoting an open standard subsea control systems for Saipem’s Subsea Bus architecture based on Siemens Subsea DigiGrid, according to a news release.