South Korea Aims to Triple Overseas Crude

South Korea, Asia’s fourth-largest crude importer, expects to more than triple production from oil and gas fields owned by its energy companies by 2019. Production may rise to 1.03 million barrels a day of oil equivalent by 2019 from 260,200 barrels a day last year, the Ministry of Knowledge Economy said today in its 10-year energy and mineral policy plan.

Cabot Oil & Gas Corporation today announced the completion of its midstream asset sale to Williams Field Services Company, LLC a subsidiary of Williams Partners L.P. Cabot received the anticipated $150 million in proceeds.

India and Russia today signed an agreement to enhance cooperation between the two countries in the oil and gas sector that will provide an administrative framework for joint projects in this field in either country as well as third countries by companies from both countries.

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