Vietnam has cancelled a major oil project in the South China Sea for the second time in a year, in the wake of Chinese pressure, the BBC has learned. State-owned PetroVietnam ordered Spanish energy firm Repsol to suspend a project off the south-east coast, a well-placed industry source said. Source: BBC
Libya’s National Oil Corporation (NOC) said storage capacity at Ras Lanuf port had been cut by 400,000 barrels after a second crude oil tank was set on fire amid fighting between rival factions for control of two key export terminals. Source: Africa News
Norway’s energy minister will meet with companies on Wednesday to discuss the potential construction of offshore floating wind farm. Source: Reuters
Venezuela’s economic and oil industry demise is likely to result in its crude oil exports to China plummeting to their lowest level in almost eight years in July. Source: Oil Price
