Lundin completes exploration well offshore Malaysia

Lundin Malaysia BV, a wholly owned subsidiary of Swedish independent Lundin Petroleum AB of Stockholm, has completed drilling the Bambazon exploration well on Block SB307/SB308 offshore eastern Malaysia. Source: News

ExxonMobil: Energy outlook sees demand up, carbon intensity down

Global energy demand will increase 25% between 2014 and 2040, driven by population growth and economic expansion, according to ExxonMobil Corp.’s 2016 Outlook for Energy. Most of this growth will occur in nations outside the Organization for Economic Cooperation and Development. Source: News

Oman reveals list of approved bidders for proposed refinery project

Duqm Refinery & Petrochemical Industries Co. LLC (DRPIC), Muscat, a joint venture of state-owned Oman Oil Co. and the United Arab Emirates’ International Petroleum Investment Co. (IPIC), has revealed its shortlist of prequalified tenderers selected to bid on design and construction of a grassroots 230,000-b/d refinery to be built in Oman’s Duqm Special Economic Zone […]

EIA: US gas prices expected to rise over next 2 years

The Henry Hub natural gas spot price of $1.93/MMbtu in December 2015 marked the lowest monthly average since March 1999. However, US gas prices are expected to rise over next 2 years, reflecting consumption growth, mainly from the industrial sector, that outpaces near-term production growth. Source: News