PJSC Gazprom Neft subsidiary Gazprom Neft Badra has commissioned its 1.6 billion-cu m/year natural gas processing plant at Badra field in eastern Iraq. The full-cycle gas plant, which entered commercial operation on Dec. 6, processes dry feed gas from Badra field, that will be shipped via a 100-km pipeline to the Az-Zubaidiya power station to […]

Saudi Aramco Shell Refinery Co. (Sasref), a 50-50 joint venture of Saudi Aramco and Royal Dutch Shell PLC, has let a contract to CB&I, Houston, to provide engineering, procurement, and construction management for the modernization and expansion of its 305,000-b/d refinery at Jubail, Saudi Arabia.   Source: News

The crude oil benchmarks each dropped by more than $1.60/bbl on the New York and London markets Dec. 6 after a weekly US government report showed a surge in US crude oil production. The US Energy Information Administration said production reached 9.7 million b/d for the week ended Dec. 1, up 25,000 bbl from the […]

US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.6 million bbl for the week ended Dec. 1 compared with the previous week. The latest estimate is 448.1 million bbl, which puts oil supplies in the upper range for this time of year, the US Energy Information Administration said. Source: News

Norway’s Ministry of Petroleum and Energy aims to award new production licenses in the 24th Licensing Round before the summer of 2018. The round covered newly opened, frontier acreage including 102 blocks or partial blocks of which nine were in the Norwegian Sea with the remaining 93 blocks in the Barents Sea. Source: News