State-run Kuwait Petroleum Corp. is in talks with both commodities dealers along with some international oil companies about forming a joint venture to trade refined products as early as next year, Bloomberg said, quoting a KPC official said.
Iran’s western region oil firm Khazar Exploration and Production Company (KEPCO) is in talks with major global energy firm to attract investment and development of offshore oil fields, the company said.
Petrofac has secured a contract extension and a new award with a combined value of more than US$100 million for construction management, engineering, commissioning and start-up services for two International Oil Companies (IOCs) in Iraq.
Abu Dhabi-based Baron Point Petroleum said it signed an agreement to set up a US$150 million joint venture with PetroVietnam Oil Corporation in Vietnam to finance, build and operate a petroleum product pipeline and storage space.
Shell's Prelude floating liquefied natural gas (FLNG) facility has now entered Australian waters and is the first deployment of Shell’s FLNG technology that will see the facility located 475km north-north east of Broome in Western Australia.
OPEC and non-OPEC members part of an oil production cut deal meant to prop up energy prices agreed to push hard for conformity to the output limits, while Nigeria said it would join the pact once its production stabilises.