Swift emerges from bankruptcy, sells assets

Swift Energy Co. has completed financial restructuring and emerged from voluntary bankruptcy after completing the sale of 75% of its interests in South Bearhead Creek and Burr Ferry oil fields in central Louisiana. Source: News


Indian state-run refiners advance plans for grassroots megarefinery

Public-sector refining firms Indian Oil Corp. Ltd. (IOC), Bharat Petroleum Corp. Ltd. (BPC), and Hindustan Petroleum Corp. Ltd. (HPC) are advancing a previously announced plan to jointly invest in construction of a grassroots 60 million-tonne/year integrated refining and petrochemical complex in India’s Maharashtra state. Source: News


Saudi Arabia seeks to lower oil dependence

Reduced dependence by Saudi Arabia on revenue from oil is among targets of sweeping economic reform outlined Apr. 25 by Deputy Crown Prince Mohammad bin Salman. Source: News