Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser said on Monday.
Things have been topsy turvy lately on the roadsides of West African nations where cheap contraband petrol from Nigeria has abruptly doubled in price, upending an informal sector that is central to the region's economic activity.
Indonesia's state energy company Pertamina and Malaysia's Petroliam Nasional (Petronas) plan to jointly take over Shell's participating interest in the Masela gas project, Indonesia's energy minister said on Monday.
South Korea's government on Sunday said Hyundai Engineering & Construction has signed a contract worth $5 billion with Saudi Arabian state oil producer Aramco to build a petrochemicals complex in the Middle Eastern nation.
Shell Plc began restarting its 227,900 barrel-per-day (bpd) Norco, Louisiana, refinery on Saturday following a power outage and brief fire, said people familiar with plant operations on Sunday.