Husky Energy Inc., Calgary, is to sell a 65% interest in certain midstream assets in the Lloydminster region of Alberta and Saskatchewan to Cheung Kong Infrastructure Holdings Ltd. and Power Assets Holdings Ltd. (PAH). Source: News
SOCAR lets contract for Baku refinery modernization program
State Oil Co. of Azerbaijan Republic (SOCAR) has let a contract to Amec Foster Wheeler (AFW) for work related to the ongoing modernization and expansion of the Heydar Aliyev refinery at Baku in Azerbaijan. Source: News
Swift emerges from bankruptcy, sells assets
Swift Energy Co. has completed financial restructuring and emerged from voluntary bankruptcy after completing the sale of 75% of its interests in South Bearhead Creek and Burr Ferry oil fields in central Louisiana. Source: News
Morgan joins Bell Geospace as senior geoscientist
Richard Alan Morgan has joined Bell Geospace Inc., Houston, as senior geoscientist. Source: News
Federov named to Rosneft economics, finance post
Pavel Federov has been named first vice-president for economics and finance at OJSC Rosneft. Source: News
Indian state-run refiners advance plans for grassroots megarefinery
Public-sector refining firms Indian Oil Corp. Ltd. (IOC), Bharat Petroleum Corp. Ltd. (BPC), and Hindustan Petroleum Corp. Ltd. (HPC) are advancing a previously announced plan to jointly invest in construction of a grassroots 60 million-tonne/year integrated refining and petrochemical complex in India’s Maharashtra state. Source: News
MARKET WATCH: NYMEX crude oil price drops $1/bbl on oversupply concerns
Light, sweet crude prices for June delivery dropped $1/bbl on Apr. 25 after Genscape Inc. released a report showing oil inventories in Cushing, Okla., storage tanks recently increased by an estimated 1.5 million bbl. Source: News
CNOOC starts oil production at Panyu 11-5 field in South China Sea
CNOOC Ltd. started oil production from Panyu 11-5 field in the Pearl River Mouth basin of the South China Sea. Source: News
Saudi Arabia seeks to lower oil dependence
Reduced dependence by Saudi Arabia on revenue from oil is among targets of sweeping economic reform outlined Apr. 25 by Deputy Crown Prince Mohammad bin Salman. Source: News
ONGC seeks to explore India’s unconventional gas basins
India’s state-owned Oil & Natural Gas Corp. is seeking approval for 17 shale oil and gas exploration wells along the east and west coasts of the country, according to news agency Press Trust of India (PTI). Citing minutes of a recent meeting of the Expert Appraisal Committee (EAC) of Ministry of Environment and Forests, the […]