Oman Oil Refineries & Petroleum Industries Co. (ORPIC) has started the largest and most complex planned turnaround of its 116,000-b/d refinery and associated polypropylene plant at Sohar as part of the company’s integration strategy for its ongoing Sohar Refinery Improvement Project (SRIP), a brownfield, multibillion dollar modernization program to add major technical improvements to the […]

Light, sweet crude oil prices for March delivery rallied by $1.84/bbl Feb. 22 to close at $31.48 after the International Energy Agency released a report saying it expects US oil production to fall during 2016-17. Source: News

The world’s oversupply of oil must be resolved and the market rebalanced, OPEC Sec. Gen. Abdallah Salem El-Badri told IHS CERAWeek attendees, adding that the current price slump is a “very nasty” oil price cycle compared to previous cycles. Source: News

Mexico President Enrique Pena Nieto said his nation’s energy reform stemmed from an intense, collective effort early in his administration. Mexico’s energy reform legislation was passed in 2014 and will continue to be implemented on a timely basis, he told IHS CERAWeek attendees Feb. 22 in Houston. Source: News

UK North Sea interests of privately held First Oil Group PLC, Aberdeen, are being sold as the company moves into joint administration by KPMG LLP. Source: News

The American Gas Association’s board of directors agreed to incorporate two practices recommended by the American Petroleum Institute last week dealing with natural gas storage into the gas utility trade association’s safety enhancement commitment for pipelines. Source: News