Archives: From the field

London-based exploration company Tullow Oil has frozen its dividend for the first time. Tullow identified $500 million in planned cost savings over the next three years to balance 2014 pretax losses of $2 billion. This was the first loss experienced by the company in 15 years and is a result of decreasing oil prices and…

At least three workers were killed and 10 injured in a blast caused by a gas leak on majority state-owned Petrobras’ Cidade de São Mateus floating production, storage and offloading vessel Wednesday. Six remain missing.

US oil production reached an all-time high of 9.2 million barrels of oil per day for the week ending February 6, as West Texas Intermediate once again slips to below $50 a barrel. According to a new report from the US Energy Information Administration (EIA) released on Wednesday, this was a record for weekly data…

In a new report, PwC says UK oil and gas companies need “fresh strategies” to stay competitive in a changing industry.

The US is to remain as the foremost source of oil supply growth globally up to 2020, as per predictions of the International Energy Agency in its Medium Term Oil Market report

South Korea’s SK Innovation signed two production-sharing contracts with China National Offshore Oil Corp. (CNOOC), the Chinese company announced Tuesday. Both blocks are located in the Pearl River Mouth Basin of the South China Sea at depths of 50-100 metres.

The first well at Brazil’s offshore Libra oilfield has been successfully tested, state-owned Petrobras announced on Tuesday, though there have been reports of more than a weeklong halt in drilling.

Bulgaria will invite bids for two deepwater oil and gas blocks, the country’s parliamentary energy committee chair said on Tuesday.

Members of indigenous groups in the Junin region of Peru have begun a strike to protest a lack of information and open dialogue regarding one of Argentinian company Pluspetrol’s gas exploration projects.

Canadian exploration firm Questerre stated on Tuesday that two wells in the Kakwa-Resthaven region are complete. The first is in the Montney formation and benefitted from an improved completion technique. The other, in the uphole Halfway zone, is a new pool discovery.