Light, sweet crude prices gained slightly on the New York market on Jan. 17 as trading resumed after the Martin Luther King Jr. holiday on Jan. 16. But the US benchmark fell in early Jan. 18 trading on reports of a strengthening dollar and expectations that US producers will increase unconventional oil production. Source: […]

Crude oil output from the seven major US onshore producing regions is expected to rise 41,000 b/d in February to 4.748 million b/d, according to data from the US Energy Information Administration. Source: News

Twenty-nine companies have been awarded 56 new production licenses on the Norwegian continental shelf as part of Norway’s Awards in Predefined Areas (APA) 2016 licensing round. Thirty-three companies were eligible to apply for 148,014 sq km. Source: News

Abu Dhabi Oil Refinery Co. (Takreer), the refining arm of state-owned Abu Dhabi National Oil Co. (ADNOC), is preparing to restart about half of its more than 800,000-b/d Ruwais refining complex in the UAE following an early January fire that forced a partial shutdown of operations at the site. Source: News

Esfahan Oil Refining Co. (EORC), a subsidiary of Iran’s state-owned National Iranian Oil Refining & Distribution Co. (NIORDC), has issued a letter of agreement (LOA) to Daelim Industrial Co. Ltd. of South Korea for execution of a modernization and improvement project at EORC’s 375,000-b/d refinery in Esfahan City, Esfahan province, about 400 km south of […]