MARKET WATCH: NYMEX oil price drops slightly on US oil inventory gain

The light, sweet crude oil contract for December declined modestly on the New York market Nov. 16 after the US Energy Information Administration said commercial crude oil inventories, excluding the Strategic Petroleum Reserve, increased 5.3 million bbl during the week ended Nov. 11. Source: News


Norway’s DNO signs development deal for western Iran

Norwegian operator DNO ASA has signed a memorandum of understanding with National Iranian Oil Co. to conduct a development study for Changuleh oil field. The field—which was discovered in 1999 but yet to be developed—is thought to contain more than 2 billion bbl of oil in place. Source: News


After latest delay, Dakota Access sponsor sues to complete pipeline

Energy Transfer Partners sued in federal district court on Nov. 15 for permission to complete the Dakota Access crude oil pipeline after the US Army Corps of Engineers (ACE) said the previous day that it would continue to delay issuing easement permits under Lake Oahe in North Dakota for further consultations with the Standing Rock […]