Lukoil commissions Stavrolen gas processing plant

PJSC Lukoil has commissioned the first of two planned gas processing units (GPUs) at its Stavrolen petrochemical complex in Budennovsk, Russia. Source: News


Statoil hands over Maersk Gallant rig to Total

Statoil ASA has elected to cancel its contract for the Maersk Gallant jack up rig, which is now under a new contract with Total E&P Norge AS spanning from Feb. 14 to Aug. 21. Source: News


Vaughn named Devon chief operating officer

Tony Vaughn, executive vice-president of exploration and production at Devon Energy Corp., has been named chief operating officer. Source: News


MARKET WATCH: NYMEX, Brent prices drop on skepticism about production agreement

Light, sweet crude oil prices for March delivery fell 40¢ on the New York market to settle above $29/bbl while Brent crude oil prices for April delivery dropped $1.21 to settle above $32/bbl despite an agreement by four major producers to freeze production at existing levels if other producers would do the same. Source: […]