Iraq's Oil Marketing Company (SOMO) kept its official selling price (OSP) for Basra Medium crude to Asia unchanged in May at minus $0.15 a barrel to the average of Oman/Dubai quotes, a price document reviewed by Reuters on Thursday showed.
Shell has decided not to go ahead with two projects it was studying to produce biofuels and base oils in Singapore, a company spokesperson said on Thursday.
Kuwait raised the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in May by 25 cents from the previous month to $2.40 a barrel above the average of Oman/Dubai quotes, a price document reviewed by Reuters showed on Wednesday.
The Caspian Pipeline Consortium (CPC), which handles 1% of global oil flows, has stopped oil loadings through its single mooring points (SPM) since April 10 because of a planned shutdown, it said on Wednesday.
The U.S. Permian basin has not seen peak production, and increases in output from the region will help to offset production declines in other basins going forward, said Occidental Petroleum Chief Executive Vicki Hollub on Wednesday.