Statoil lets contract for Visund Nord field in North Sea

Statoil ASA has let a contract extension to TechnipFMC regarding an ongoing engineering, procurement, and construction contract for an improved oil recovery project in Visund Nord field in the Norwegian North Sea. Source: News

IEA: Excess oil inventories will persist into 2018

Assuming stable oil production from the Organization of Petroleum Exporting Countries, oil demand should outpace oil supply in this year’s second half, but excess inventories will persist into 2018, according to forecasts made by the International Energy Agency in its latest monthly Oil Market Report. Source: News

Moll adds communications role at OMV

Magdalena Moll, senior vice-president, corporate affairs, at OMV AG, has assumed additional responsibilities for corporate communications. Source: News

Keyera advances Wapiti gas complex in Alberta

Keyera Corp. has let an engineering services contract to Jacobs Engineering Group Inc. for a liquids handling and gas processing facility as part of the Wapiti development project south of Grand Prairie, Alta. Source: News

CAPP: Oil pipelines still urgently needed

Projected growth in Canadian crude oil production will exceed existing pipeline capacity, according to a recent forecast from the Canadian Association of Petroleum Producers highlighting the “urgent need for pipelines heading east, west, and south.” Source: News