IEA revises up forecasts of global oil demand growth

In the latest Oil Market Report (OMR), the International Energy Agency has revised upwards its estimates of global oil demand growth in 2017, this time by 100,000 b/d to 1.6 million b/d. Source: News


Kayne Anderson-backed Sabinal Energy buys West Texas assets from Chevron

Sabinal Energy LLC, The Woodlands, Tex., has acquired assets comprising 7,500 boe/d of production and covering 66,500 net acres in Hockley, Terry, and Gaines counties in Texas, part of the Central Basin Platform and Northern Shelf, from Chevron USA Inc. Source: News


Seadrill files Chapter 11, enters restructuring

Seadrill Ltd., Hamilton, Bermuda, has filed prearranged Chapter 11 cases in the Southern District of Texas along with an agreed upon restructuring plan. Source: News


NZOG receives rival bid against Zeta takeover offer

A rival bidder to Zeta Energy Pte. Ltd. for the takeover of New Zealand Oil & Gas Ltd. (NZOG) has emerged in the form of OG Oil & Gas Ltd. (OGOG), a subsidiary of the Monaco shipping company Ofer Global Group. Source: News


Origin Energy unit acquires Benaris’ stake in Otway gas project

Origin Energy Ltd., Sydney, on behalf of its oil and gas subsidiary Lattice Energy, has acquired Benaris International’s 28% interest in the Otway gas project offshore Tasmania and Victoria for $250 million (Aus.). Source: News