State Oil Co. of Azerbaijan Republic (SOCAR) has let a contract to the SOCAR-KBR LLC joint venture to provide project management consultancy (PMC) for the ongoing modernization and expansion of the Heydar Aliyev refinery at Baku in Azerbaijan. Source: News

Malaysia’s state-owned Petronas said its first floating LNG (FLNG) facility is expected to sail in the second quarter. A Mar. 4 naming ceremony marked completion of construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) shipyard in Okpo, South Korea. Source: News

Algeria’s state-owned Sonatrach SPA has let a series of contracts to Amec Foster Wheeler (AFW) to provide front-end engineering and design (FEED) for three grassroots refineries that will add a total of 15 million tonnes/year in refining capacity in the country. Source: News

Persistence of low crude oil prices through 2021 would hurt more than help the Canadian economy by constricting oil-producing and affiliated industries, finds a study by the Canadian Energy Research Institute. Source: News

Light, sweet crude oil prices for April delivery on the New York market continued climbing Mar. 7, gaining $1.98 to settle at $37.90/bbl, but various Middle East high-ranking oil representatives have started questioning news reports regarding the scheduling of a production freeze meeting. Source: News

Chevron Corp. has started LNG and condensate production at the Gorgon project on Barrow Island off the northwest coast of Western Australia. The first LNG cargo is expected to be shipped next week. Source: News

One year after the US shale oil production began its decline, output form the Permian basin is finally projected to follow suit. Source: News