The board of India’s Oil & Natural Gas Corp. Ltd. approved a $5-billion offshore oil and natural gas development plan for the Krishna-Godavari basin off the country’s east coast. Source: News

Plans to develop giant Leviathan natural gas field offshore Israel suffered another setback on Mar. 27 when the High Court of Justice rejected part of a regulatory framework supported by Prime Minister Benjamin Netanyahu. Source: News

Dubai-based MEGlobal International FZE, a subsidiary of Kuwait’s first international petrochemical joint venture Equate Petrochemical Co., said it will build its first US monoethylene glycol (MEG) manufacturing plant at Dow Chemical Co.’s Oyster Creek petrochemical complex in Freeport, Tex. Source: News

Light, sweet crude oil prices for May delivery fell for a third consecutive session to settle Mar. 24 at $39.46/bbl on the New York market while Brent crude oil also fell on the London market the same day to settle at $40.44/bbl. Source: News

Sometimes it pays to think the unthinkable. Think about the rescue of Houston, TX, by Washington, DC. Source: News

Serious questions remained after the US Department of the Interior canceled a Mid-Atlantic lease sale during the forthcoming 2017-22 US Outer Continental Shelf oil and gas program on Mar. 15. The biggest may be whether it’s dragging its feet on finding out what’s actually out there. Source: News

Saudi Aramco and Royal Dutch Shell PLC have entered a preliminary agreement to separate assets of Motiva Enterprises LLC, the Houston-based refining and marketing joint venture equally owned and operated by the companies since 2002 (OGJ Online, Feb. 13, 2002). Source: News

Tax relief for oil and gas produced on the UK Continental Shelf surprised no one in a struggling industry that has desperately sought it. The same cannot be said for past changes to the British tax regime. Source: News