Upstream
![Upstream](/cache/2016/03/INDIA-13.5e9d17e4.jpg)
2016, March, 29, 18:25:00
ONGC APPROVES $5 BLN
The board of India’s Oil & Natural Gas Corp. Ltd. approved a $5-billion offshore oil and natural gas development plan for the Krishna-Godavari basin off the country’s east coast.
![Upstream](/cache/2016/03/ROSNEFT-99.0e73287b.jpg)
2016, March, 29, 18:15:00
ROSNEFT: 5 MBD
Rosneft set a new record, having increased hydrocarbon production up to 254.2 mmtoe (5.16 mmboed). Development drilling meterage increased by 36% and reached 6.9 mln meters. More than 1.8 thousand of new wells were commissioned.
![Upstream](/cache/2016/03/OIL-230.d2649317.jpg)
2016, March, 25, 19:55:00
OIL NEED $300 BLN
Neil Atkinson, head of the IEA’s Oil Industry and Markets Division, said in Singapore on Wednesday. About $300 billion is needed to sustain the current level of production, and nations including the U.S., Canada, Brazil, and Mexico are facing difficulty in keeping up investments, he said.
![Upstream](/cache/2016/03/BP-20.5fc6b8a9.jpg)
2016, March, 25, 19:20:00
U.S. VS BP: $20 BLN
Federal lawyers on Tuesday formally asked a judge in New Orleans to approve a record-breaking $20 billion-plus settlement agreement announced last July by the Department of Justice and five Gulf Coast states to resolve years of legal fighting about the 2010 Gulf oil spill.
![Upstream](/cache/2016/03/KCA-Deutag-4.42c9ed2e.jpg)
2016, March, 25, 19:05:00
KCA DEUTAG LOSS $144.4 MLN
Revenue during the year fell by 20.9% to $1,668.8 million (2014: $2,110.9 million) reflecting activity reductions as spending by our customers has reduced, pricing pressures, reduced spend on reimbursable type contracts and changes in mix between our business units. EBITDA decreased by 7.9% to $289.8 million over the same period as the impact of these lower revenues was offset by significant reductions made to our cost base.
![Upstream](/cache/2016/03/USA-180.f44e996e.jpg)
2016, March, 25, 19:00:00
U.S. RIGS DOWN 12
U.S. Rig Count is down 12 rigs from last week to 464, with oil rigs down 15 to 372, and gas rigs up 3 to 92.
Canadian Rig Count is down 14 rigs from last week to 55, with oil rigs down 1 to 11, and gas rigs down 13 to 44.
![Upstream](/cache/2016/03/USA-176.0bc187a7.jpg)
2016, March, 22, 19:05:00
THE LOWEST U.S. RIGS
The total US rig count, which on Friday stood at 476, is now at its lowest point ever in the 67-year history of the Baker Hughes numbers, according to data released by the oilfield service company.
![Upstream](/cache/2016/03/USA-282.0b19a490.jpg)
2016, March, 19, 18:45:00
U.S. RIGS DOWN 4
U.S. Rig Count is down 4 rigs from last week to 476, with oil rigs up 1 to 387, and gas rigs down 5 to 89.
Canadian Rig Count is down 29 rigs from last week to 69, with oil rigs down 16 to 12, and gas rigs down 13 to 57.
![Upstream](/cache/2016/03/IRAN-46.1928e999.jpg)
2016, March, 15, 19:20:00
ИРАН ПРИГЛАШАЕТ В ПРОЕКТЫ
Иран приглашает российские нефтяные компании в проекты по повышению эффективности действующих месторождений и в разработке новых проектов. В настоящее время российская сторона ожидает предоставления условий нового контракта.
![Upstream](/cache/2016/03/USA-173.aee4e6be.jpg)
2016, March, 15, 19:00:00
AMERICAN ENERGY SECURITY
This is American energy security, American jobs, U.S. government revenue and American GDP tied up by political red tape. This is a once in a generation opportunity, stuck, off limits to future generations as it waits for forward-looking energy policy.
![Upstream](/cache/2016/03/USA-277.3591f32a.jpg)
2016, March, 12, 11:25:00
U.S. RIGS DOWN 9
U.S. Rig Count is down 9 rigs from last week to 480, with oil rigs down 6 to 386, and gas rigs down 3 to 94.
Canadian Rig Count is down 31 rigs from last week to 98, with oil rigs down 22 to 28, and gas rigs down 9 to 70.
![Upstream](/cache/2016/03/IRAN-45.3f557c42.jpg)
2016, March, 12, 11:15:00
IRAN NEED TECHNOLOGY
“We need contracts, tenders and technology,” he said, describing Iran as a “garden” in need of nourishment. “Money for the Iranian economy is like water.”
![Upstream](/cache/2016/03/INDIA-8.61a2f1f6.jpg)
2016, March, 12, 11:10:00
$40 BLN FOR INDIA
Government said on Thursday it hoped to unlock gas and oil resources worth almost $40 billion by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields.
![Upstream](/cache/2016/03/USA-170.ce151e9d.jpg)
2016, March, 10, 19:00:00
U.S. OIL PRODUCTION DOWN
U.S. monthly crude oil production in December 2015 continued to decline, as oil production reached its lowest level since November 2014. Production also declined from year-ago levels for the first time in more than four years. This continued production decline is the result of lower crude prices, which have declined more than 70% since the summer of 2014.
![Upstream](/cache/2016/03/STATOIL-26.7d4838df.jpg)
2016, March, 4, 19:45:00
STATOIL STARTED DRILLING
Production drilling has commenced on the first of a total of 35 wells to be drilled during Phase 1 of the Johan Sverdrup field development offshore Norway in the North Sea, operator Statoil ASA reported.