A subsidiary of Roc Oil Co. Ltd., Sydney, and private Smart Oil Investment Ltd. of China will serve as joint operator of a production-sharing contract that calls for development of Weizhou 10-3W oil field in the South China Sea offshore China. Source: News

The US natural gas outlook undeniably has improved substantially in the last 30 years, the chief executives of the nation’s two biggest multinational oil companies agreed on June 26. Source: News

Even with Mexico’s presidential election completed on July 1, politics will remain the biggest variable in Latin America’s oil and gas outlook, two Washington-based authorities told OGJ in separate interviews on June 13. The single certainty is that the situation in Venezuela is growing worse, they added. Source: News

The Organization of Petroleum Exporting Countries’ output cutbacks amid strong global oil demand growth have managed to eliminate the surplus of the Organization for Economic Cooperation and Development’s stocks. As of April, OECD commercial stocks had fallen in 8 of the previous 9 months, reaching a 3-year low and a 5-year average, according to data […]

GS Caltex Corp. has let a contract to KBR to supply its proprietary Selective Cracking Optimum Recovery (SCORE) technology license, basic engineering design, and proprietary equipment supply services for a grassroots mixed-feed cracker as part of GS Caltex’s previously announced project to build an olefins production complex near its existing refining and petrochemical operations at Yeosu […]

Interconnections that run both ways have become as important as having more secure natural gas supplies, Maros Sefcovic, vice-president of the European Commission’s Energy Union, said on June 25 in Washington, DC. Source: News

Floating LNG (FLNG) plants converted from existing vessels can come online at a price comparable to low-cost onshore plants. At current LNG prices, however, there is little room for larger newbuild FLNG’s and even conversions face uncertain prospects. Source: News