The US Department of the Interior moved aggressively to upgrade its oil and gas oversight following the 2010 Macondo deepwater well blowout and crude oil spill by trying to hire, train, and retain more qualified inspectors and managers, the US Government Accountability Office noted. Source: News
Condor to complete Poyraz well in Turkey
Condor Petroleum Inc., Calgary, has cemented production casing in a well that logged at least 135 m of net natural gas pay in stacked reservoirs at the edge of Poyraz Ridge gas field under development in northwestern Turkey. Source: News
BP sheds more planned capex for 2016
BP PLC has again cut its planned organic capital expenditure for 2016, resetting it at $16 billion from its original guidance of $17-19 billion reported at the start of the year. The firm expects capital expenditure in 2017 to be $15-17 billion. Source: News
Shell records third-quarter earnings of $1.4 billion
Royal Dutch Shell PLC posted third-quarter current cost of supplies (CCS) earnings of $1.4 billion, up from a loss of $6.1 billion for the same quarter a year ago. Source: News
Staton named Southern Star Central president, CEO
Jimmy D. Staton has been appointed president and chief executive officer of Southern Star Central Gas Pipeline, Owensboro, Ky. Source: News
Statoil to move ahead on Trestakk discovery
Statoil ASA has submitted a plan for development and operation of the Trestakk discovery on the Halten Bank to the minister for petroleum and energy in Bodo, Norway. Capital expenditures are estimated at 5.5 billion kroner. Source: News
Mubadala lets FPSO contract for Jasmine field off Thailand
Mubadala Petroleum awarded a modified contract to Petrofac that extended contracts related to the FPF-003 floating production, storage, and offloading vessel (Jasmine FPSO) for Jasmine oil field offshore Thailand. Source: News
Occidental expands Permian basin interests
Occidental Petroleum Corp. has acquired 35,000 net acres in the Permian basin horizontal drilling play and expanded its enhanced oil recovery holdings in the basin through transactions with private sellers totaling $2 billion. Source: News
HollyFrontier buying Petro-Canada Lubricants
HollyFrontier Corp., Dallas, has entered a definitive agreement to acquire Petro-Canada Lubricants Inc. (PCLI) from Suncor Energy for $1.125 billion (Can.), including working capital estimated at $342 million. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices fell on OPEC doubts
Crude oil prices continued falling on the New York and London markets Oct. 31 while doubts continued to grow that the Organization of Petroleum Exporting Countries will actually reach any agreement to cut production at its Nov. 30 meeting. Source: News