MARKET WATCH: NYMEX oil price holds above $65/bbl, Brent above $70/bbl

Light, sweet crude oil prices fell modestly on the New York market Mar. 26 but closed above $65/bbl while Brent crude oil for May delivery on the London market also fell modestly but settled above $70/bbl for a second consecutive trading session. Source: News


Sonatrach updates refining plans

State-owned Sonatrach is weighing the purchase of a refinery abroad to process Algerian-produced crude oil to further help reduce Algeria’s high costs for and reliance on imported petroleum products, Abdelmoumen Ould Kaddour, Sonatrach’s chief executive officer, told Algeria Press Service. Source: News


Wintershall to evaluate Norwegian Sea gas discovery

Wintershall Norge AS plans to evaluate a natural gas discovery well drilled in Upper Cretaceous reservoir rocks 115 km southwest of Aasta Hansteen field in the Norwegian Sea.  Source: News