State-owned Oil & Natural Gas Corp. has let a contract for combined subsea work on its KG-DWN-98/2 (“Cluster-2”) deepwater development off eastern India to a consortium of Baker Hughes, a GE company, McDermott International Inc., and L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro. Source: News
MARKET WATCH: NYMEX crude for November settles above $76/bbl
Crude oil prices on both the New York and London markets jumped by more than $1/bbl Oct. 3. Traders appeared more focused on declining Iranian oil exports than a sharp build in US inventories. Source: News
Trump nominates Bernard L. McNamee to fill vacancy at FERC
President Donald J. Trump nominated Bernard L. McNamee, who presently is director of the US Department of Energy’s Policy Office, to the Federal Energy Regulatory Commission on Oct. 3. Source: News
SOCAR-BGP venture to explore Caspian
State Oil Co. of the Azerbaijan Republic (SOCAR) and China National Petroleum Corp. subsidiary BGP Inc. have signed an agreement forming a joint venture to conduct seismic exploration in Azerbaijan and the Caspian Sea. Source: News
APICORP: MENA energy investment continues to be heavy
The Middle East and North Africa (MENA) region will see a number of critical energy projects pushed through over the next five years, despite uncertainties that cloud the investment outlook, according to APICORP Energy Research. Source: News
IFR receives option to buy Tonalli shares
Petro Frontera, a wholly owned subsidiary of International Frontier Resources Corp. (IFR), Calgary, has received an option to buy all shares of the Mexican Tonalli Energia joint venture held by partner Grupo IDESA. Source: News
Salt Creek, Noble Midstream to build Delaware basin crude transport system
Salt Creek Midstream LLC has entered into a letter of intent with Noble Midstream Partners LP to form a 50-50 partnership on a crude oil pipeline and gathering system in the southern Delaware basin. Source: News
NGSA: record winter gas demand will be matched by record production
US demand for natural gas is projected to reach an all-time high this winter, but soaring production will ably satisfy demand, resulting in flat pressure on prices compared to last winter, the Natural Gas Supply Association (NGSA) said in its 18th annual Winter Outlook forecast of the wholesale winter natural gas market. Source: News
Operator ‘reassured’ by Lopez Obrador talk
President-elect Andres Manuel Lopez Obrador of Mexico has assured oil and gas executives he will honor existing contracts, according to the chief executive of a Canadian company specializing in onshore Mexican operations. Source: News
MARKET WATCH: Crude oil prices drop slightly but hover near 4-year highs
Light, sweet crude oil prices for November and December delivery declined slightly but each contract settled above $75/bbl on the New York market Oct. 2, staying near 4-year highs as did Brent crude oil. Brent for December and January dropped but held above $84/bbl. Source: News