Karoon entices Tullow for offshore Peru well

Karoon Gas Australia Ltd., Melbourne, has sealed a deal to bring Tullow Oil PLC, London, into its exploration venture offshore Peru. Source: News

MODEC, partners proceed with FPSO project offshore Brazil

Mitsui & Co. Ltd., Mitsui OSK Lines Ltd., Marubeni Corp., and Mitsui Engineering & Shipbuilding Co. Ltd. agreed to invest in Sepia MV30 BV, which will provide a floating production, storage, and offloading vessel in the Sepia area offshore Brazil, MODEC Inc. said. Source: News

Ineos Shale challenges Scottish frac ban

Scotland’s ban on hydraulic fracturing has come under legal attack. Ineos Shale said it is seeking judicial review of the government’s decision in October to extend indefinitely a moratorium in place since 2015. Source: News

HPCL, Rajasthan state plan groundbreaking for Barmer integrated complex

HPCL Rajasthan Refinery Ltd., a 74-26% joint venture of Hindustan Petroleum Corp. Ltd. and the state government of Rajasthan, will kick off construction activities in mid-January on the JV’s previously announced project to set up a 9 million-tonne/year integrated refinery and petrochemical complex at Pachpadra Tehsil, Barmer District, Rajasthan. Source: News

MARKET WATCH: NYMEX, Brent crude oil prices climb more than $1/bbl

The light, sweet crude price for February delivery climbed more than $1 to settle above $62.90/bbl on the New York market Jan. 9 while Brent’s March contract rose more than $1 to settle above $68.80/bbl in London. Source: News