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Coretrax Wellbore Products Save Operators £10million
United Kingdom >> 6/2/2016 - Coretrax, leading engineered servicing company for wellbore clean and abandonment, has secured cost savings of nearly £10 million in rig time for UK operators. ...
Saudis Pledge not to Shock Oil Market as OPEC Debates Policy
Saudi Arabia >> 6/2/2016 - Saudi Arabia promised not to flood the oil market with extra barrels as OPEC entered a heated debate about production policy, with Iran insisting on the right to raise output steeply. ...
BP Agrees to Pay $175m to Settle Claims with Shareholders
Mexico >> 6/2/2016 - BP Plc agreed to pay $175 million to shareholders who brought a class-action lawsuit that accused the oil company of misleading them by understating the severity of the 2010 oil spill in the Gulf of M...
Gulf Keystone Receives Further Payment for Shaikan Crude
Iraq >> 6/2/2016 - Gulf Keystone confirms that a further gross payment of $7.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in April 2016, bringing the total pay...
Venezuela and Nigeria Exchange Views Ahead of the OPEC Meeting
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, held a bilateral meeting with Minister of State for Petroleum resources of Nigeria, Emmanuel Ibe Kachikwu, the day prior to the 169th Meeti...
Minister Del Pino Met with his Counterpart from Saudi Arabia
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, met with his counterpart from Saudi Arabia, Khalid Al Falih, the day before the 169th Meeting of the OPEC Conference. ...
Ministers Del Pino and Khepri Held a Meeting Prior to the OPEC Conference
Venezuela >> 6/1/2016 - People’s Minister of Petroleum and Mining, Eulogio Del Pino, and his Algerian counterpart, Salah Khebri, exchanged views on the current situation of the oil market, the day before the 169th Meeting of...
PetroMaroc to Conduct Cdn $390,000 Debenture Financing
United Kingdom >> 6/1/2016 - PetroMaroc Corporation plc (PetroMaroc) intends to complete a secured, non-convertible debenture financing (the “Financing“) of Cdn $390,000 (the “2016 Debentures“), the proceeds of which will be used...
Receipt of Payment for KRI Oil Exports from Taq Taq field
Iraq >> 5/31/2016 - Genel Energy plc announces that the Taq Taq field partners have received a payment of $11.45 million from the Kurdistan Regional Government for oil sales during April 2016. The payment follows the rec...
Sasol Says Mozambique Gas Project Unaffected by Debt Crisis
Mozambique >> 5/30/2016 - Mozambique's debt crisis and lower oil prices will not affect Sasol's $1.4 billion gas project because costs will be covered by the South African energy company and recouped through gas revenues, the ...
South Korea Economy - May 2016
South Korea Economy - May 2016 South Korea >> 5/29/2016 - The economic situation in South Korea is slowing down slightly. The GDP growth rate during the 1Q16 stood at 2.7%, which is in line with expectations. Exports remain weak and in April declined again b...
Hercules Offshore to File for Bankruptcy a Second Time
United States >> 5/27/2016 - Hercules Offshore Inc planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection. The company said it had entered into a restruc...
Estimate for 2015 Balance of Supply and Demand - May 2016
Estimate for 2015 Balance of Supply and Demand - May 2016 Austria >> 5/26/2016 - Demand for OPEC crude for 2015 remained unchanged from the previous month to stand at 29.7 mb/d, representing a decline of 0.1 mb/d from the level a year earlier. Within the quarters, both 1Q15 and 3Q...
Brent Oil Breaks above $50 for First Time in Seven Months
United States >> 5/26/2016 - Oil prices hit $50 a barrel for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add t...
US Consumers Continue to Take Advantage of America’s Energy Revolution
United States >> 5/26/2016 - U.S. consumers continue to take advantage of America’s energy revolution and affordable gas prices as we head into the summer driving season, said API Chief Economist Erica Bowman on a conference call...
API Welcomes 2016 National Energy Discussion
United States >> 5/26/2016 - API Executive Vice President Louis Finkel said the industry is glad to see energy become a part of the national discussion because it’s important to consumers, the economy, and our national security. ...
DONG Energy IPO Pricing Indicates Market Value of up to $16 bln
Denmark >> 5/26/2016 - Denmark's DONG Energy set an indicative price range for its planned initial public offering (IPO) implying a market value of 83.5 billion to 106.5 billion Danish crowns ($12.6-16.0 billion). ...
Receipt of Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 5/26/2016 - Genel Energy plc announces that the Taq Taq field partners have received a payment of $11 million from the Kurdistan Regional Government (‘KRG’) for oil sales during April 2016. ...
Saudi Aramco Said to Appoint JPMorgan, HSBC for Debut Bond Sale
Saudi Arabia >> 5/25/2016 - Saudi Aramco, the world’s largest oil exporter, is working with JPMorgan Chase & Co., HSBC Holdings Plc and Riyad Bank on the company’s first sale of Islamic bonds, people with knowledge of the matter...
Baker Commences Tender Offers for Certain Outstanding Debt Securities
United States >> 5/25/2016 - Baker Hughes Incorporated has commenced a tender offer to purchase for cash up to $1 billion combined aggregate principal amount (the “Maximum Tender Amount”) of its or its subsidiary’s 6.000% Senior ...

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