MARKET WATCH: NYMEX, Brent crude prices rally on OPEC supply-cut efforts

The light, sweet crude oil contract for December jumped nearly $2.50/bbl on the New York market Nov. 15 while Brent oil prices also rose about $2.50/bbl. Analysts attributed the rally to producers’ efforts to achieve a deal within the Organization of Petroleum Exporting Countries. Source: News


Genesis buys NZOG’s interest in Kupe field off New Zealand

New Zealand Oil & Gas Ltd. has sold its 15% interest in Kupe oil and natural gas field offshore Taranaki basin in the North Island to the country’s largest electricity retailer Genesis Energy Ltd. for $168 million (NZ). Source: News


ExxonMobil lets contract for Beaumont polyethylene expansion

ExxonMobil Corp. has let a contract to Zachry Group, San Antonio, to provide a series of support services for the company’s recently announced plan to add a polyethylene (PE) unit at its 1-million tonne/year PE plant in Beaumont, Tex. Source: News