Schlumberger Announces First-Quarter 2015 Results

Germany-based Wintershall revealed a plan Wednesday to significantly ramp up its presence and production in the North Sea.

Schlumberger Ltd., the world’s largest oilfield services provider, will eliminate an additional 11,000 positions in a sign the industry will undergo another round of job cuts as a result of tumbling crude prices.

Russia is pushing ahead with plans to build a pipeline to Turkey and further on to Greecevia the Black Sea, in line with its plans to stop exporting gas via Ukraine by 2019.

Lukoil will likely pull out from Saudi Arabia where the economics of its search for gas have been crushed by the collapse of the oil price, three industry sources said.

Nigeria’s incoming government should consider selling down its majority stakes in joint ventures with multinational oil companies to shore up state finances and raise funding for infrastructure development, according to the central bank governor.

On March 16, the presidents of Turkey, Azerbaijan and Georgia travelled to Kars in Turkey’s mountainous northeast, and then to a remote worksite near the border with Georgia, to launch construction of the 1,850km Trans-Anatolian gas pipeline (Tanap).

Rapid and aggressive strategic response by oil and gas companies to low oil prices has driven industry cash flow breakevens down by $20/bbl to $72/bbl, according to a recent analysis of Wood Mackenzie. If oil prices remain at current levels, further cuts would be required to achieve cash flow neutrality, WoodMac said. For some companies, this will mean selling assets, others may suspend or limit dividend and buyback programs.

After noticeably slowed declines over the previous 2 weeks, the US drilling rig count fell 40 units to 988 rigs working during the week ended Apr. 10, settling under 1,000 for the first time since Sept. 11, 2009, according to data from Baker Hughes Inc.

ConocoPhillips is preparing the sale of noncore oil and gas producing acreage in the United States, in the latest sign that oil majors are becoming more accepting of lower oil prices, according to people familiar with the matter.

UK Oil and Gas Investments (UK) boosted its oil in place estimate Thursday for the onshore UK Horse Hill field up to 100 billion barrels.

Глава Газпрома А.Миллер, выступая на конференции Валдайского клуба 13 апреля 2015 г, пообещал прекратить поставки газа в те страны, которые выступают против проекта строительства магистрального газопровода (МГП) Турецкий поток.

A corruption investigation that has already engulfed Brazil’s state-run oil giant Petroleo Brasileiro SA has spread to the health ministry and state-owned bank Caixa Econômica Federal, authorities said Friday.

The next decade will be critical for the Russian natural gas industry with the outcome largely depending on the nation’s pricing and institutional policies

Representatives of five countries - Hungary, Serbia, Macedonia, Greece and Turkey - met in Budapest on Tuesday, announcing the formation of a working group to facilitate natural gas deliveries - specifically infrastructure development - to their markets from gas emanating from Turkey including possible participation in the Turkish Stream pipeline.