Chevron USA has completed its purchase from Petrobras America of all outstanding shares and equity interests of Pasadena Refining System Inc., which includes the refinery in Pasadena, Tex., and PRSI Trading LLC for $350 million, excluding working capital. Source: News

Qatar Petroleum has let contracts for eight offshore jack up drilling rigs expected to be mobilized and ready for its North Field expansion project starting in January 2020. Source: News

Equinor announced May 2 plans to shut production at the Statfjord A platform in the North Sea, one of the oldest platforms on the Norwegian continental shelf. Statfjord A went on stream in 1979 and had been scheduled for shutdown in 1999, but it has since received numerous upgrades. Source: News

The cost of building and operating oil sands projects has fallen in recent years and total oil production is expected to rise by another 1 million b/d by 2030, but external factors—such as price uncertainty caused by pipeline constraints—are contributing to a more moderate pace of production growth than in years past, according to IHS […]

Light, sweet crude oil for June delivery fell modestly to settle at $63.60/bbl on the New York market May 1 while the Brent contract for June held unchanged at just above $72/bbl in London. Traders and analysts are watching world oil supply levels now that the US is ending sanctions waivers to some countries that […]

Eni Mexico has let a contract to McDermott International Inc. for engineering, procurement, and construction of wellhead platform 1 (WHP1) to be installed in Amoca field, 30 km offshore Dos Bocas in southeast Mexico. Source: News

The New Zealand government’s New Zealand Petroleum and Minerals section has finally launched its delayed “Block Offer 2018” tender for petroleum exploration permits. About 2,200 sq km of land in the onshore Taranaki basin of the country’s North Island is being offered for oil and gas exploration. Source: News

Abu Dhabi National Oil Co. subsidiary ADNOC Refining (formerly Takreer) has let a contract to McDermott International Inc. to deliver front-end engineering and design for a refinery offgas project at the combined 817,000-b/d refinery in Ruwais, in the western region of Abu Dhabi. Source: News

Abu Dhabi is offering exploration licenses for five blocks in its second international round of oil and gas bidding. The two offshore and three onshore blocks cover a combined 34,000 sq km. In the first bid round, which closed in March, Abu Dhabi National Oil Co. awarded concessions to two offshore and three onshore blocks […]

US crude oil inventories for the week ended Apr. 26, excluding the Strategic Petroleum Reserve, increased by 9.9 million bbl from the previous week, according to data from the US Energy Information Administration. Source: News