Statoil outlines exploration plans for 2017

Statoil ASA plans to drill about 30 exploration wells in 2017 as operator and partner, an increase of about 30% compared with the 23 in 2016. Source: News

MARKET WATCH: NYMEX crude oil price for February settles under $53/bbl

Oil futures fell more than $1/bbl on the New York and London markets Jan. 3 while the value of the US dollar rose. Analysts said many market participants doubt whether major producers will cut production in 2017 as they agreed in 2016. Source: News

Delek US, Alon USA to merge

Delek US Holdings Inc., Brentwood, Tenn., has entered a definitive agreement to buy all outstanding shares of Alon Israel Oil Co. Ltd.’s US-based refining and marketing subsidiary Alon USA Energy Inc., Dallas, which owns and operates a 74,000-b/sd refinery in Krotz Springs, La.; an idled 70,000-b/sd, three-refinery complex in California; and through its majority interest […]

NIOC qualifies 29 firms for tender round

National Iranian Oil Co. has designated 29 non-Iranian companies as qualified to participate in its pending tender round for upstream projects. Source: News