The National Oil and Gas Authority of Bahrain expects production to begin within 5 years from an oil and gas discovery in shallow water off the island nation’s west coast. At a press conference reported by the official Bahrain News Agency, a DeGolyer & MacNaughton official estimated P50 oil in place at 80 billion bbl.  […]

US crude oil inventories, excluding the Strategic Petroleum Reserve, fell for the week ended Mar. 30, according to US Energy Information Administration data. Inventories decreased by 4.6 million bbl, EIA said. Source: News

The Renewable Fuels Association strongly criticized the US Environmental Protection Agency following a Reuters report that EPA exempted three Andeavor refineries from having to meet 2016 renewable fuel quotas under a small refiner hardship provision. Source: News

SM Energy Co., Denver, has entered into two definitive agreements, one for the sale of the company’s remaining assets in the Williston basin in Divide County, ND, and one for the sale of its third-party operated assets known as Halff East in Upton County, Tex., for combined proceeds of $292.3 million. Buyers were not disclosed. […]

DNO ASA, Oslo, agreed to acquire 15.37% of the share capital of Faroe Petroleum PLC from Delek Group Ltd. The acquisition covers all Faroe Petroleum ordinary shares held by Delek, totaling 56,355,825, at a price of £1.25/share for an aggregate purchase price of £70.4 million.  Source: News

China National Offshore Oil Corp. subsidiary CNOOC Ningbo Daxie Petrochemical Co. Ltd. has let a contract to CB&I, Houston, to deliver technology licensing and design for a grassroots polypropylene plant at its refining and petrochemical complex in Ningbo, Zhejiang Province, China.  Source: News