Total SA, the world’s fifth-largest integrated oil and gas company, has agreed, along with one of its traders, to pay a $3.6 million civil penalty to settle charges of attempted natural gas market manipulation in the U.S. Source: Bloomberg
The U.S. Department of Energy (DOE) is offering 11 million barrels of oil for sale from the nation’s Strategic Petroleum Reserve (SPR) ahead of sanctions on Iran that are expected to reduce global supplies of crude. Source: Reuters
Iraq’s state-run Basra Oil Company and Chevron agreed to begin implementing a memorandum of understanding to develop fields in the south of the country. Source: Reuters
Saudi Arabia is seemingly planning to build an oil port in Yemen’s al-Mahra governorate in the country’s southeast, where Saudi and United Arab Emirates’ troops are present. Source: Al Jazeera
