Aker BP discovers more oil offshore Norway

Aker BP ASA encountered a 10-m oil column in a 40-m thick sandstone layer with its 24/9-12 S wildcat on Production License (PL) 340 drilled 2 km north of Boyla field, 26 km southwest of Alvheim field, and 200 km northwest of Stavanger. Source: News


ACCC introduces changes to gas marketing competition policy

The Australian Competition and Consumer Commission (ACCC) has allowed four major LNG and two onshore gas companies greater trading and pricing freedom in Western Australia and the Northern Territory to provide more gas for the country’s east coast. Source: News


EPA holds 2 days of discussions in Denver about oil and gas issues

The US Environmental Protection Agency hosted a two-day oil and gas roundtable with stakeholders including state and local leaders, Indian tribes, trade associations and producers, and environmental organizations. Source: News


Total buys Marathon Oil’s Libyan interest

Total has acquired a 16.33% interest in the Waha concessions in Libya’s Sirte basin with the purchase of Marathon Oil Libya Ltd. for $450 million. Source: News


Barclays cautiously optimist about Nigeria’s oil production outlook

Nigeria’s oil and condensate production for 2018 is expected to reach 2.2 million b/d, said a Barclays research note. Nigeria’s production recovered to 2 million b/d in 2017 after falling to 1.5 million b/d in August 2016. Source: News


MARKET WATCH: Crude oil futures continue falling in New York, London

The light, sweet crude oil contract for April dropped to a 2-week low on Mar. 1. Analysts said crude oil prices were under downward pressure from proposed US steel import tariff changes, volatile equity markets, a strengthening US dollar, and growing US oil supplies and production. Source: News