OPEC+ Commits to Modest Production Increase Despite Western Pressure
In a meeting that took place today, OPEC+ decided to stick to its agreed plan to ramp up oil production to 432,000 barrels of per day (bbl/d) in May, Al Sharq reported.
News / International
Slovakia Working Hard to Stop Its Energy Imports From Russia
Slovakia's Economy Minister Richard Sulik said that his country is exerting a lot of effort into cutting its energy reliance on Russia, with increased liquefied natural gas (LNG) deliveries as an option, Reuters reported.
US May Release 180 mmbbl From Its Strategic Reserves to Stabilize Oil Prices
The US administration may consider to release a total of 180 million barrels over several months from the U.S Strategic Petroleum Reserves (SPR), Reuters reported citing four sources.
South Korea to Stop Importing Russian Naphtha
South Korean naphtha cracker operators are willing to stop importing Russian petrochemical products after receiving the last deliveries from existing contracts this month due to its invasion of Ukraine.
PETRONAS Finalizes Sale of EPOMS to Janamurni Sdn
PETRONAS Carigali Sdn Bhd (PCSB) announced it has completed the transaction of selling its entire ownership in E&P O&M Services Sdn. Bhd. (EPOMS) to Janamurni Sdn. Bhd.
Baker Hughes, Dussur Ink Agreement to Develop Industrial Chemicals in Saudi Arabia
Baker Hughes and Dussur which is owned by Saudi Arabian Public Investment Fund (PIF), Saudi Aramco and SABIC (Saudi Basic Industries Corporation) have signed an agreement to establish a joint venture (JV) working on oilfield and industrial chemicals in Saudi Arabia.
Shell Begins Production at PowerNap in Mexico
Shell revealed that it has started production at PowerNap, a subsea development in the US Gulf of Mexico, which is a tie-back to the Olympus production hub in the Mars Corridor.
Versalis, Novamont Boost Cooperation in Green Chemistry
Versalis and Novamont announced that they are reinforcing their partnership in the ecological transition of green chemistry through building on what has been and explore new opportunities.
TransGlobe Energy Announces New Changes in the Board of Directors
TransGlobe Energy has announced the new changes in its Board of Directors. The company said that Steven Sinclair decided to retire from the Board to be effective on March 25, 2022.
Russian Gas Supplies to Europe is Stable
The Russian natural gas supplies through its three key pipelines to Europe is stable.
