Noble gets POD approval for Leviathan field development off Israel

Noble Energy Inc., Houston, reported it has received approval from the Petroleum Commissioner in the Ministry of National Infrastructure, Energy, and Water Resources for the development of the deepwater Leviathan field project offshore Israel. Source: News

Gazprom Neft lets contract for Moscow refinery

Russia’s PJSC Gazprom Neft, St. Petersburg, has let a contract to NIPIgazpererabotka (Nipigaz) to serve as general contractor for a Euro+ combined refining unit (CRU) to be built as part of the ongoing modernization and upgrade of its 12.15 million-tonne/year Moscow refinery. Source: News

Cooper begins Indonesian withdrawal

As announced in February, Cooper Energy Ltd., Adelaide, has sold two Indonesian exploration permits to Mandala Energy Investment Pte. Ltd. for $9.07 million comprising sale consideration ($8.25 million) and reimbursement of exploration costs to completion, net of Indonesian transfer taxes. Source: News

EIA: US crude inventories down 1.4 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, dropped 1.4 million bbl during the week ended May 27 compared with the previous week’s average, the US Energy Information Administration reported on June 2. Source: News

MARKET WATCH: NYMEX, Brent drop slightly pending OPEC meeting

Oil prices held just above $49/bbl on the New York market on June 1 as traders and analysts awaited a June 2 meeting by the Organization of Petroleum Exporting Countries in Vienna and also release of the US crude oil and products report, which was delayed 1 day by the US Memorial Day holiday. […]