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Japan’s JX starts trial of SDA

TOKYO: Japanese oil refiner JX Nippon Oil & Energy said it had started trial operations of its new solvent de-asphalting (SDA) and a 125-MW power generation unit at its Kashima refinery, east of Tokyo. The SDA unit with capacity of 18,000 barrels per day processes heavy distillate into light oil and residue called SDA pitch that is used as feedstock for the new power generation unit.




Iraq warns IOCs of cut in funds

DUBAI: Iraq has told foreign companies developing the country’s southern oilfields that they may need to slash development spending next year because it has less money to pay them due to a slump in crude prices.

In a letter sent to IOCs, the oil ministry said 'because of the drop in our oil sales revenues, the Iraqi government has reduced the funds available to the Ministry of Oil.'




US shale oil production to fall: EIA

NEW YORK: Total US shale oil production for October is forecast to decline by 80,000 barrels per day (bpd) to 5.21 million bpd (mbpd), compared with 5.29 mbpd in September, according to the US Energy Information Administration (EIA).

The drop in October was slightly less than the 80,200 bpd decline in September, data shows.




Kuwait, Iran cut oil prices to Asia

TOKYO: Kuwait and Iran have cut their crude oil prices to Asia to multi-year lows against top exporter Saudi Arabia as the battle for market share among producers pits member of Organization of the Petroleum Exporting Countries (Opec) against each other.




Swiss help Oman in oil graft probe

ZURICH: The office of Switzerland’s attorney general is helping authorities in Oman investigate alleged corruption in the sultanate’s national oil company and oil ministry, a Swiss law enforcement source said.

Swiss authorities are involved because transactions related to the probe involved Swiss financial institutions, the source said.