MOL Group reported an 11th hydrocarbon discovery in Pakistan, which makes three discoveries made on Karak block in the country’s Punjab Province. Source: News
BP, Kuwait Petroleum sign framework agreement
BP PLC and state-owned Kuwait Petroleum Corp. (KPC) signed a broad framework agreement for possible opportunities inside and outside Kuwait covering oil, gas, trading, and petrochemicals. Source: News
Kuwait, Saudi Arabia agree to restart jointly held Khafji field
Kuwait and Saudi Arabia agreed to resume production at offshore Khafji oil field although no restart date was immediately available, Kuwait News Agency (Kuna) reported, saying Anas al-Saleh, Kuwait’s acting oil minister, told Kuwait’s Parliament that maintenance was planned first at the field. Source: News
EIA: US crude inventories record 2.3 million-bbl rise
Data from the US Energy Information Administration’s Weekly Petroleum Status Report show that US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, gained 2.3 million bbl during the week ended Mar. 25 from the previous week’s total. Source: News
Ineos plans restart of mothballed ethylene unit at Grangemouth
Ineos AG, Rolle, Switzerland, has completed operational trials for the planned restart of a previously shuttered second manufacturing unit at its gas-cracking operations in Grangemouth, Scotland. Source: News
MARKET WATCH: NYMEX oil price for May hovering above $38/bbl
Light, sweet crude oil prices for May delivery dropped more than $1 on Mar. 29 on the New York market to settle above $38/bbl. It was the fifth consecutive session for prices to drop and the longest losing streak since February when prices plunged below $30/bbl. Source: News
Eni awarded block near OCTP project offshore Ghana
Eni SPA has been awarded an exploration license for the Cape Three Points Block 4 in the Tano basin offshore Ghana. Source: News
Chevron Phillips Chemicals reaches FID on Cedar Bayou plant expansion
Chevron Phillips Chemical Co. LP (CPCC) has reached final investment decision to expand the low-viscosity polyalphaolefins (PAO) capacity at its Cedar Bayou petrochemical complex in Baytown, Tex. Source: News
Continental Refining plans capacity expansion at Kentucky refinery
Continental Refining Co. is adding a crude unit and hydrotreater as part of the company’s strategy to expand operations and increase production of low-sulfur fuels at its 5,985-b/d refinery in Somerset, Ky. Source: News
LWI vessel en route to Oyo field offshore Nigeria
The Island Constructor light well intervention (LWI) vessel is en route to Oyo field offshore Nigeria for service on the Oyo-8 well’s subsurface controlled subsurface safety valve (SCSSV), Erin Energy Corp. reported. Source: News