WorldOil CNPC completes China’s deepest onshore well at Tarim oil field CNPC completed the Keshen-902 well to a depth of 8,038 m, 15 m deeper than the Keshen-7 well drilled in 2011 at the same structural belt, on Jan. 21, the company has reported. API: December petroleum demand up sharply, crude production highest since ‘72 Total U.S. petroleum deliveries (a measure of demand) rose last month by 5.1% from December 2013 to average nearly 20.0 MMbpd. Goldman Sachs president sees oil falling to $30/bbl in extended slump Oil prices will probably continue to decline and could reach as low as $30/bbl, according to Gary Cohn, president of Goldman Sachs Group Inc. Saudis won’t ‘singlehandedly’ balance crude market, Aramco says Saudi Arabia won’t balance global crude markets on its own even as prices fall to levels that are “too low for everybody” and threaten investment needed to meet long-term demand, the head of Saudi Arabian Oil Co. said. Technip bags two subsea contracts in Gulf of Mexico from Stone Energy Technip has been awarded by Stone Energy Corp. both a flexible pipe supply contract and an installation contract for Amethyst field, located on Mississippi Canyon 26, in the Gulf of Mexico. Camcon names new business development manager for MENA Camcon Oil has announced the appointment of Abdel Ben Amara as BD Manager for the Middle East and North Africa (MENA) region. LoneStar Group inks global EFA with Shell Global Solutions The LoneStar Group has recently awarded a five year global Enterprise Framework Agreement (EFA) with Shell Global Solutions for the supply of stud bolts and fasteners. U.S. Steel to cut pipe production amid oil slump United States Steel Corporation has announced that it will temporarily adjust operations at Lone Star Tubular Operations in Lone Star, Texas, and Fairfield Tubular Operations in Fairfield, Ala. Fairfield Works, the primary flat-roll supplier of rounds to Fairfield Tubular Operations, will also adjust operations. BP freezes employee pay in response to oil price slump BP will freeze employee pay in the latest example of cost cuts as the world’s top oil companies respond to plunging crude. Launching licensing rounds in tough times The low oil price and high project costs mean countries are under pressure to make oil and gas licensing rounds as attractive as possible for bidders if they are to be successful. InterMoor completes Juniper mooring and foundation installation contract InterMoor, an Acteon company, has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago.