US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased 8.2 million bbl during the week ended Mar. 3 compared with the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report. Source: News

Global methanol prices could rise following a report from Methanol Holdings (Trinidad) Ltd. (MHTL) that it will shutter two of its methanol plants in Trinidad and Tobago because of ongoing natural gas curtailments in the Caribbean twin-island nation. Source: News

Chevron Corp. said its subsidiary Cabinda Gulf Oil Co. Ltd. (Cabgoc), has started oil and natural gas production from its main Mafumeira Sul platform offshore Angola. Early production from the second-stage development started in October 2016 using a temporary production system. Source: News

The government of India will use revenue-sharing in an open-acreage, exploration and production licensing scheme for which details are beginning to emerge. Source: News

The US Senate passed a Congressional Review Act (CRA) resolution along party lines to revoke the US Bureau of Land Management’s Planning 2.0 rule by 51 to 48 votes. The Mar. 7 action sent H.J. Res 44 to the White House for President Donald J. Trump’s signature a month after it passed the House by […]

Maintaining a stable world oil market is a global responsibility and not one that should fall squarely on the shoulders of the Organization of Petroleum Exporting Countries, two of the cartel’s primary decision makers emphasized during separate discussions at CERAWeek by IHS Markit on Mar. 7. Source: News

Cairn Energy PLC, Edinburgh, is furthering its SNE field appraisal offshore Senegal after confirming gross oil intervals of 18½ m and 8½ m in its SNE-5 well. Source: News

Rene L. Casadaban has joined American Midstream Partners LP as senior vice-president and chief operating officer. Source: News