EIA: US crude inventories gain 3.9 million bbl

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, rose 3.9 million bbl during the week ended Mar. 4 compared with the previous week’s total, according to the US Energy Information Administration’s Weekly Petroleum Status Report. Last week, inventories jumped 10.4 million bbl. Source: News


Rosneft starts drilling exploratory well offshore Vietnam

OJSC Rosneft said it started drilling an exploratory well offshore Vietnam in the Nam Con Son basin. It’s the first time Rosneft has been drilling operator in international waters. Source: News


Aramco to nearly double natural gas production in decade

Saudi Aramco plans to nearly double its natural gas production to 23 standard bcfd in 10 years, Aramco Chief Executive Officer Amin Nasser told an industry conference in Jubail on Mar. 8. Source: News


MARKET WATCH: Oil prices drop pending US inventory, world oil oversupply concerns

Light, sweet crude oil prices for April delivery on the New York market dropped more than $1/bbl to settle above $36/bbl on Mar. 8, giving up much of the previous day’s gains. Analysts said world oil supplies remain robust while a supply-demand recovery still has yet to begin. Source: News


Cairn-led group drills SNE-3 appraisal well offshore Senegal

A group led by Cairn Energy PLC has drilled the SNE-3 appraisal well offshore Senegal confirming the field’s upper reservoir units can flow at commercially viable rates and make a material contribution to oil volumes. Source: News