Drilling & production - 14 July 2016

Production from the B3 platform will allow Marathon Oil to convert approximately 130 million boe of proved undeveloped reserves.

LUKOIL Marine Lubricants has opened a new branch office in Hong Kong.

Under the terms of the agreement, Woodside is to acquire 100% of ConcoPhillips’ shares for a purchase price of US$350 million.

Global oil supplies rose by 600 000 bpd in June, to 96 million bpd, after outages curbed OPEC and non-OPEC supplies in May.

AFGlobal Corp. has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth.