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PwC: Low oil prices might drive surge in restructuring in 2015

Mergers and acquisitions (M&A) in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to a report from PwC US.

DOI's 2017-22 draft proposed OCS program includes Mid-Atlantic sale

The US Department of the Interior released a draft proposed 2017-22 Outer Continental Shelf management program that included 14 potential oil and gas lease sales in 8 planning areas, including one off South and Mid-Atlantic coastal states.

NCOC lets $1.8-billion pipeline contract for Kashagan field

North Caspian Operating Co. (NCOC) has let a $1.8-billion engineering and construction contract to ERSAI Caspian Contractor LLC, a subsidiary of Saipem SPA, for two 95-km, 28-in. pipelines to serve the Kashagan field project in the Kazakh section of the Caspian Sea.

Oil-price collapse may aggravate producing nations’ other problems

The recent global crude-oil price plunge could be aggravating underlying problems in Mexico, Colombia, and other Western Hemisphere producing nations, speakers suggested during a Feb. 4 discussion at the Woodrow Wilson International Center for Scholars.

Petrobras CEO, five other senior executives resign

Maria das Gracas Foster, chief executive officer of Petroleo Brasileiro SA (Petrobras) since 2012, has resigned along with five other senior executives.

Chevron unit farms into Mauritania offshore blocks

Chevron Mauritania Exploration Ltd., a wholly owned subsidiary of Chevron Corp., has agreed to acquire 30% nonoperated working interest in Blocks C8, C12, and C13 offshore Mauritania from Kosmos Energy Ltd., Dallas.

Saetre named Statoil president, CEO

Eldar Saetre has been named president and chief executive officer of Statoil, succeeding Helge Lund, who resigned in October.

BG’s 2015 budget ‘significantly lower than 2014’

BG Group plans capital expenditures on a cash basis of $6-7 billion in 2015, a range it says is “significantly lower than 2014” due to “a lower oil price environment.”

BP trims capital budget by $4-6 billion

BP PLC plans an organic capital expenditure of $20 billion in 2015, down from the previous guidance $24-26 billion. Total organic capital expenditure in 2014 was $22.9 billion, lower than its initial guidance of $24-25 billion.

Anadarko reports 2014 loss, remains upbeat about Wattenberg

Anadarko Petroleum Corp. announced a 2014 net loss of $1.75 billion, or $3.47/share diluted, including a net loss of $4.05 billion associated with the settlement of litigation involving its subsidiary, Tronox Inc., yet company executives remained upbeat about production growth.

CNOOC cuts capital budget, starts production from Jinzhou 9-3

CNOOC Ltd. is slashing its capital budget for 2015 by 26-35% to $11.25-12.86 billion compared with last year’s budget. Capital expenditures for exploration, development, and production respectively account for 21%, 67%, and 10% of the budget.

Seven Group buys into Beach Energy

Media group Seven Group Holdings, Perth, has bought 13.8% of Adelaide-based Beach Energy Ltd. through share purchases fuelling speculation of a possible takeover bid.

Karve joins Cobalt for Cameia development

Shashank V. Karve has joined Cobalt International Energy Inc. as executive vice-president in charge of development of deepwater Cameia oil field on Block 21 offshore Angola.

Obama’s proposed fiscal 2016 budget recycles oil tax increases

US President Barack Obama has proposed his federal budget for fiscal 2016 that he said was designed to help a beleaguered middle class take advantage of a strong economic recovery. It also included proposals from previous years to close what the administration considers oil and gas tax loopholes and the industry regards as necessary provisions to offset ongoing business expenses.

MOL absorbs Eni’s Romanian retail assets

MOL Group, Budapest, has completed the acquisition of Eni Romania, including 42 service stations to be rebranded under the MOL name.

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Vantage Drilling

Currently Hiring Positions in the Gulf of Mexico

Vantage Drilling is an international offshore drilling contractor which operates and manages a fleet of modern, high specification drilling rigs on...
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Sodexo is Hiring Cooks, Bakers, Housekeeping & Janitorial Workers

Sodexo is Hiring Cooks, Bakers, Housekeeping & Janitorial Workers Full benefit package Must be able to work any shift, day, night and weekends,...
Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering Program at the rank of associate or full professor, with an anticipated starting date of July 1, 2015. Texas A&M at Qatar is a partnership with Qatar Foundation, and it is based in a state-of-the-art, 595,000 square foot building that was completed in 2007.

Chair of the Petroleum Engineering Program

Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...
PUSHERS, DRILLERS, AND RIG HANDS NEEDED FOR LONG TERM PROJECT IN NEVADA.

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Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corporate mission is to help feed the world affordable, wholesome food by supplying superior goods and services to the leading commercial food producers worldwide. The company owns the world's largest methionine plant located at Chocolate Bayou, Texas and is in the early stages of building another plant at a site on the gulf coast of Texas or Louisiana.

Sr. Process Engineers

Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corpora...

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