Malaysian firm to buy Lundin’s Bertam FPSO

M3nergy Investment Ltd., a wholly owned subsidiary of M3nergy Bhd. of Malaysia, has agreed to acquire the Bertam floating production, storage, and offloading vessel from Lundin Petroleum AB for $265 million. Source: News


MARKET WATCH: NYMEX crude oil prices briefly climb above $30/bbl

Light, sweet crude oil prices climbed more than $1/bbl on the New York market Jan. 21, reaching a trading session high of $30.25/bbl before settling at $29.53/bbl. The momentum continued with crude prices rallying above $31/bbl in early trading on Jan. 22. Source: News


Husky cuts 2016 budget, defers drilling in western Canada

Husky Energy Inc., Calgary, has revised its capital spending plans for 2016 to $2.1-2.3 billion from $2.9-3.1 billion, primarily reflecting a deferral of discretionary activities in western Canada. Source: News


Aramco, Sinopec move to expand cooperation

Saudi Arabian Oil Co. (Saudi Aramco) and China Petroleum & Chemical Corp. (Sinopec) have signed a framework agreement for cooperation in activities related to oil and other energy. Source: News