Light, sweet crude oil prices fell slightly on the New York market Mar. 22 with the May contract closing at $41.45/bbl, down 7¢. The May contract is the new front-month contract as of the Mar. 21 closing. The Mar. 22 settlement marked the highest oil front-month closing price on the New York market since Dec. […]

The US should be less hesitant to use its expanded geopolitical influence after changing from a nation relying increasingly on oil and gas imports to one poised to be a major exporter, Manhattan Institute Senior Fellow Mark P. Mills said. Source: News

Petroleo Brasileiro SA (Petrobras) reported a 2015 net loss of $9.7 billion, up from a $6-billion loss in 2014. Source: News

Pembina Pipeline Corp. has agreed to acquire sour gas processing properties in the Musreau area of Alberta from Paramount Resources Ltd. for $556 million (Can.) cash and other consideration pushing the transaction value to more than $600 million (Can.). Both companies are based in Calgary. Source: News

BP Trinidad & Tobago (BPTT) and EOG Resources Inc. have entered into a joint venture to develop the Sercan natural gas field just off the northeast of Trinidad and Tobago. Source: News

Royal Dutch Shell PLC subsidiary Shell Nanhai BV and China National Offshore Oil Corp. (CNOOC) have taken final investment decision on the companies’ previously announced plan to expand capacity at their 50-50 joint venture CNOOC & Shell Petrochemicals Co. Ltd.’s (CSPC) petrochemical complex in the Daya Bay Economic and Technological Development Zone, Huizhou, Guangdong Province, […]

Bankers Petroleum Ltd., Calgary, will be acquired by affiliates of Geo-Jade Petroleum Corp., Beijing, in a share purchase valued at $575 million (Can.). Source: News