Tullow makes Erut-1 oil discovery in Kenya

The Tullow Oil PLC-operated Erut-1 well on Block 13T in northern Kenya has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100-125 m. Source: News

SOCAR lets contract for GPC gas, petchem complex

State Oil Co. of Azerbaijan Republic (SOCAR) subsidiary SOCAR GPC has let a contract to Axens SA, Rueil-Malmaison, France, to provide technology for a butene unit at its proposed grassroots gas processing and petrochemical complex to be built in Garadagh, Azerbaijan, 15 km south of Baku. Source: News

Zinke says he would move land management authority out of Washington

US Rep. Ryan Zinke said he would work to have more federal land management decisions reached outside of Washington, DC, as a product of closer collaboration with states and stakeholders if he is confirmed as the next US Secretary of the Interior. Source: News

MARKET WATCH: Brent crude oil falls closer to $55/bbl on stronger US dollar

Light, sweet crude prices gained slightly on the New York market on Jan. 17 as trading resumed after the Martin Luther King Jr. holiday on Jan. 16. But the US benchmark fell in early Jan. 18 trading on reports of a strengthening dollar and expectations that US producers will increase unconventional oil production. Source: […]