Statoil suspends two North Sea oil rigs
Statoil won’t use the Transocean Spitsbergen and Songa Trym rigs from mid-November through at least the year-end because of overcapacity. More »
Statoil projects big returns from massive North Sea oil field
The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day. More »
Gasoline at $3, consumers saving hundreds before holidays
The bonus at the pumps represents the biggest benefit to consumers to date from a record boom in domestic oil production that has contributed to a global crude glut and helped bring down international prices. More »
Oil firms reach for subsea standards to cut costs, FMC CEO says
The next generation of tools designed to help energy companies process oil and gas deep under the oceans could follow uniform industry designs, FMC Technologies CEO John Gremp said. More »
Endeavour International oil field in North Sea back online
Houston oil explorer Endeavour International Corp. got a bit of good news Wednesday in the midst of seeking bankruptcy protection: One of its biggest oil fields in the UK North Sea is back online. More »
Houston oil firm in North Sea files for bankruptcy protection
Disruptions at its oil fields in the U.K. North Sea and a high level of debt have driven Houston-based Endeavour International to file for Chapter 11 bankruptcy. More »
Drillers can return to fight oil slump after Scotland’s ‘No’
After the failure of a referendum on Scottish independence, Shell and BP say they’ll continue working to combat an energy slump in the United Kingdom. More »
Statoil CEO warns ballooning costs may hamper recovery goals
Surging costs for drilling and maintenance risk hampering Statoil ASA’s goal to boost the recovery rate at its Norwegian offshore oil fields to 60 percent, Chief Executive Officer Helge Lund said. More »
Norway’s oil lobby told age of no state interference is over
Producers in western Europe’s biggest oil and gas exporter must brace themselves for a new legislative age that will disrupt the status quo, according to Norway’s Green Party. More »
UK says South England holds billions of barrels of shale oil
Shale rock underneath some of the wealthiest counties in southern England may contain billions of barrels of oil, a new government report said. More »
Exxon’s Norway oil fields risk shutdown by strike over pensions
The Safe union will order as many as 154 offshore-platform workers to walk out if the talks fail, paralyzing production at the Ringhorne, Jotun and Balder fields, the group’s leader Hilde-Marit Rysst said by phone. More »
Model of largest construction vessel draws awe at OTC
Though various models of the ship have been coming to the Offshore Technology Conference for about 15 years, the Pieter Schelte never fails to draw a crowd. More »
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