Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation (CNPC) signed a head of terms agreement that will see CNPC receive greater imports of oil crude from ADNOC.
Exploration & Production
IEA report shows Saudi increased oil production in June
ConocoPhillips to split upstream and downstream business
ConocoPhillips announced that it would separate its upstream and downstream business arms that will see the US oil firm focus firmly on exploration and production.
Petroleum Development Oman (PDO) has stated that the firm aims to produce 1.1 million barrels of oil equivalent (BOE) per day this year.
Royal Dutch Shell and Petronas have awarded a contract worth more than US$60mn to Turkish firm Enka to install and operate two production facilities at the Majnoon oilfield.
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