Asian oil production is declining at a faster rate than other regions worldwide, and China accounts for about half of the anticipated decline, Wood Mackenzie Ltd. said. Source: News
ExxonMobil to buy Bass family’s Permian assets for up to $6.6 billion
ExxonMobil Corp. has agreed to acquire companies primarily focused on New Mexico’s Delaware basin from the Bass family of Fort Worth in a deal that could total $6.6 billion. Source: News
Development plans approved for Utgard, Byrding fields in North Sea
Norwegian authorities have approved Statoil ASA’s development plans for Utgard and Byrding fields in the North Sea. Source: News
Inpex lets subsea contract for Ichthys gas, LNG project
Inpex Australia has let a 5-year, subsea and geoscience services contract to Dutch multinational services firm Fugro NV for operations on Inpex’s Ichthys natural gas-LNG project in the Browse basin, 220 km offshore Western Australia. Source: News
Statoil’s Cape Vulture well finds oil, gas near Norne field
A year after Norway’s Awards in Predefined Areas (APA) 2015 round, Statoil ASA has discovered 20-80 million bbl of recoverable oil with its Cape Vulture well in PL128 offshore Bronnoysund, Norway, in the Norwegian Sea. Source: News
US judge denies preliminary injunction in BLM venting, flaring suit
A federal district court judge in Wyoming denied a preliminary injunction against the US Bureau of Land Management’s venting and flaring rule. Petitioners—which included the Independent Petroleum Association of America, the Western Petroleum Association, and the states of Wyoming, North Dakota, and Montana—did not demonstrate that a preliminary injunction is warranted, US District Judge Scott […]
MARKET WATCH: Saudi comments lift crude oil prices on jittery world markets
Crude oil benchmarks gained support Jan. 17 after Saudi Arabia’s energy minister reportedly made positive remarks about a quick rebalancing of the world oil markets. US markets were closed Jan. 16 for the Martin Luther King Jr. holiday. Source: News
Noble Energy to acquire Clayton Williams in $2.7-billion cash-stock deal
The boards of Noble Energy Inc., Houston, and Clayton Williams Energy Inc., Midland, Tex., have unanimously approved a definitive agreement under which Noble Energy will pay $2.7 billion in cash and stock to acquire Clayton Williams. Source: News
Rosneft, BP finalize dissolution of German refining JV
Rosneft PJSC and BP PLC have completed a previously announced plan to dissolve their Ruhr Oel GMBH joint venture. The companies finalized the deal to dissolve the refining and petrochemical JV on Jan. 1, Rosneft said. Source: News
HPCL lets contract for Visakh refinery revamp
Hindustan Petroleum Corp. Ltd. (HPCL) has let contracts to Engineers India Ltd. (EIL) for work related to HPCL’s previously announced project to expand and modernize its 8.3 million-tonne/year Vishakapatnam (Visakh) refinery in Andhra Pradesh, on the country’s eastern coast. Source: News