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Abu Dhabi National Oil Co. (ADNOC) reported that a 4% stake in its onshore concession has been acquired by North Petroleum International Co. Ltd., a subsidiary of China ZhenHua Oil Co. Ltd. Previously, the stake was held by CEFC China Energy Co. Ltd.

Crude oil benchmarks settled down by more than $1.60/bbl on Dec. 10 in a market correction to an initial surge in oil prices on Dec. 7 following news that the Organization of Petroleum Exporting Countries and 10 non-OPEC countries agreed to cut production by 1.2 million b/d.

Nine environmental organizations have sued US Commerce Sec. Wilbur L. Ross and the National Marine Fisheries Service (NMFS) on Dec. 11 after NMFS issued incidental harassment authorizations on Nov. 30 to five contractors seeking to conduct the first seismic surveys since the 1980s for oil and gas on the US Mid-Atlantic Outer Continental Shelf.

Light, sweet crude oil prices for the January and February contracts rose modestly to settle below $52/bbl on the New York market Dec. 11 pending release of a weekly US government report on crude oil and product supplies. On world markets, crude prices were supported after Libya’s National Oil Corp. announced force majeure on exports from El Sharara oil field following a recent attack by a militia group.

The Organization of Petroleum Exporting Countries produced 32.97 million b/d on average for November, down 11,000 b/d from October, secondary sources to the cartel reported Dec. 12 in its Monthly Oil Market Report. Saudi Arabia’s production climbed by 377,000 b/d from October to November to reach 11.01 million b/d.


RT @AnteroResources: More than $1B has been paid to West Virginia's local communities in taxes and more than 70,000 jobs have been created.…

RT @AnteroResources: Thanks to local natural gas producers like Antero, West Virginians reap the benefits of steady production. https://t.c

Encouraging and mentoring women in the oil/gas industry is the goal of WVONGA’s 5th Annual Embracing Energy Confere… https://t.co/U29iJlIXRF

RT @energizeWV: Hat’s off to the WV Congressional delegation, the Federal DOE and others for pushing this forward. Build it! “Ethane Stora…