MARKET WATCH: NYMEX oil prices fall more than $1/bbl in thin trading

Light, sweet crude oil prices fell more than $1/bbl on the New York market Mar. 23 with the May contract closing at $39.79/bbl, and analysts noted price fluctuations were especially pronounced because trading volumes were light going into the Easter holiday weekend. Source: News


Industry interest hits new low in central gulf lease sale

Central Gulf of Mexico Lease Sale 241 drew 148 bids on 128 blocks from 30 companies, with apparent high bids totaling $156 million, the US Bureau of Ocean Energy Management (BOEM) reported following the event held in New Orleans on Mar. 23. Source: News


Meridian Energy advances North Dakota refinery project

Meridian Energy Group Inc., Irvine, Calif., has filed the first round of permit applications with local regulators to proceed with its proposed 55,000-b/sd Davis refinery to be built in the heart of southwestern North Dakota’s Bakken shale region, near Belfield, in Billings County, ND. Source: News