Wison Offshore & Marine Ltd., Shanghai, has completed engineering, procurement, and construction (EPC) services for the first barge-based floating storage and regasification unit (FSRU) for Exmar NV, Antwerp. Source: News

BHP Billiton Ltd. has reported that its LeClerc discovery in the deep water off Trinidad’s South East is a “large potential gas resource” that contains both natural gas and oil. Source: News

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, rose 2.8 million bbl during the week ended Jan. 20 compared with the previous week’s total, the US Energy Information Administration said in its latest Petroleum Status Report. Source: News

BP PLC expects its Trinidad and Tobago unit, BP Trinidad & Tobago LLC (BPTT), to provide 20% of its global growth in its upstream business over the next 3 years, according to Bernard Looney, the company’s chief executive, upstream. Source: News

The Indonesian government has announced the beginning of a new production-sharing contract (PSC) regime that stipulates that exploration and production companies pay more of the overall costs of development and production, but gain a greater share of revenue. Source: News

Peru plans to cancel a contract for construction of the Southern Peruvian Gasline (GSP) after the consortium hired to build it failed to meet its financing deadline. Odebrecht SA, the subject of a multinational corruption investigation, led the consortium with a 55% stake. Enagas SA held 25% and Grupo Grana y Montero 20%. Source: […]

Light, sweet crude oil prices for March delivery rose modestly on the New York market Jan. 24 as did Brent crude oil prices on the London market, but the US crude benchmark fell in early trading Jan. 25 pending release of the weekly US oil and products inventory report. Source: News