US Oil Rig Count Rises For Fifth Straight Week

Drillers added one oil rig in the week to Feb. 23, bringing the total count up to 799, the highest level since April 2015, Baker Hughes, a GE company, said in its weekly report. That was the first time since June that drillers added rigs for five consecutive weeks.

British Columbia Edges Back From Ban On Increased Oil Shipments

The Trans Mountain expansion was approved by Canada in 2016, but has been repeatedly delayed by permitting issues.

Eni Will Not Relinquish Interests In Cyprus Amid Turkey Dispute

Italy’s Eni (NYSE: E) will probably have to move a drilling ship blocked by Turkey off Cyprus, but will not relinquish its interests in the area, the oil major’s CEO said on Feb. 22.

US Court Blocks Trump Administration From Ending Methane Leak Rule

The rule, finalized in November 2016, took effect in January 2017 and was aimed at reducing leaks of natural gas, or methane, that happen through venting and flaring during oil production on federal land.

BHP, ExxonMobil Drop Sale Of Australian Oil Fields

The resource giants had said they were looking to sell 13 fields, licenses and associated infrastructure held in Australia's Gippsland Basin.

Enerplus Quarterly Profit Beats Expectations On Higher Oil Prices

Enerplus stood by its capex forecast of C$535 million to C$585 million in 2018, saying it will spend 75% of that amount to develop its North Dakota assets in the Williston Basin.

Kvaerner CEO Resigns, Will Become Head Of Aker Energy

Jan Arve Haugan will take the helm of Aker Energy on March 1, after leading Kvaerner since 2011.

Schlumberger, Subsea 7 In Talks To Form Oil Services Joint Venture

The two firms now aim to build a 50-50 joint venture to deliver subsea installations, maintenance and repair services.

Libya’s El Feel Oil Field Shut, Sources Say

Libya’s El Feel oilfield was shut early on Feb. 23 due to the presence of armed groups in the area, a source familiar with the matter told Reuters on Feb. 23.

Row Over Kenyan Oil Revenues Threatens To Delay Production

Seeing the potential benefits of oil, residents of the poorest of Kenya’s 47 counties now want the central government to make up for decades of neglect by ploughing nearly a third of expected oil revenues back into Turkana.

Kashagan Group Says Looking At Nearby Khazar Oil Field

A consortium operating Kazakhstan’s giant Kashagan oil field is considering the joint development of two smaller nearby fields, one of which is co-owned by Oman Oil Co., its senior executive said on Feb. 23.

Dril-Quip Lands Contract For Repsol’s Ca Rong Do Project

The project is located offshore Vietnam and operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam.

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