Archives November 2015

Nov
9
2015

Chevron to cut as many as 7,000 jobs amid spending cuts

Chevron Corp. reported third-quarter earnings of $2 billion, down from $5.6 billion in third-quarter 2014. The sharp decrease in earnings and budget cuts will result in the reduction of 6,000-7,000 jobs, the company said. …read more Source: Oil Gas Journal   

Nov
6
2015

BHI: US rig count falls for 10th time in 11 weeks

The US drilling rig count dropped for the 10th time in 11 weeks during the week ended Nov. 6, losing 4 units to 771, again its lowest point since Apr. 26, 2002, according to data from Baker Hughes Inc. …read more Source: Oil Gas Journal   

Nov
6
2015

Ichthys offshore pipelay completed

Offshore pipelay has been completed for the Ichthys LNG project. Laying of the 42-in. gas pipeline began in June 2014. …read more Source: Oil Gas Journal   

Nov
6
2015

Shell reorganizing its upstream businesses

Royal Dutch Shell PLC is reorganizing its upstream businesses in a move the company says will continue when it completes its $70-billion acquisition of BG Group next year. …read more Source: Oil Gas Journal   

Nov
6
2015

Statoil says Agbami calculation would reduce stake by 5.17%

Statoil ASA said it has received a calculation of revised tract participations for Nigeria’s offshore Agbami field that would lower its equity interest by 5.17%. …read more Source: Oil Gas Journal   

Nov
5
2015

BP speeds Phase 1 development of Atoll field offshore Egypt

BP PLC has signed a heads of agreement with Egyptian Minister of Petroleum Tarek El Molla that’s expected to accelerate development of BP’s wholly owned Atoll natural gas discovery in the North Damietta offshore concession in the East Nile Delta. …read more Source: Oil Gas Journal   

Nov
2
2015

Statoil cancels Songa Trym semi contract

Statoil ASA has canceled its contract with Songa Offshore for the Songa Trym semisubmersible drilling rig. …read more Source: Oil Gas Journal   

Nov
2
2015

Complete Europe's gas infrastructure first, Eurogas chief recommends

Europe should concentrate more on completing its natural gas systems and less on trying to reduce demand or building more LNG import terminals, suggested the president of Eurogas, a 44-member organization based in Brussels that represents Europe’s gas wholesale, retail, and distribution sectors. …read more Source: Oil Gas Journal   

Nov
2
2015

UKCS projects seek momentum in low-price environment

The number of new offshore field development approvals on the UKCS declined sharply from 2012, up to and including the first half of 2015. …read more Source: Oil Gas Journal   

Nov
2
2015

Low-cost method increases lesser known shale formations' prospectivity

Less prominent shales such as the Jackson have possible commercial value if their sweet spots can be successfully identified. The method for doing so described in this article can be completed at relatively low cost. …read more Source: Oil Gas Journal   

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