WorldOil Petrobras sells assets in Argentina’s Austral basin Petrobras Argentina’s board of directors has approved the sale of all of its assets in the Austral basin, province of Santa Cruz, to Compañia General de Combustibles (CGC) for $101 million. Jereh, Plexus partner on subsea wellhead equipment Jereh Group has announced an alliance with Plexus Holding PLC to be the company’s strategic partner in the manufacturing and sale of Plexus wellhead products. GasLog acquires two LNG carriers from BG Group GasLog Ltd. has completed the acquisition of two LNG carriers from Methane Services Limited (MSL), a subsidiary of BG Group, Monaco-based GasLog announced Tuesday. BG Group, Aptomar sign Knarr field monitoring contract READING, United Kingdom -- BG Group has awarded Aptomar a contract to provide field monitoring services at Knarr field on the Norwegian Continental Shelf. As a result, Aptomar will establish a new marine control center in Trondheim, Norway. Harkand wins $5-million diving support contract in Mexico Harkand has secured a $5-million contract in Mexico to perform saturation diving services in support of an offshore pipeline project for offshore construction company Swiber Offshore Mexico S.A de C.V. Storage sells for 10 cents a month at U.S. oil-import hub Oil cavern space at the Louisiana Offshore Oil Port sold for 10 cents/bbl a month at an auction on Tuesday, offering a glimpse into the value of storage as domestic crude supplies swell to a record. Reckoning arrives for cash-strapped oil firms amid bank squeeze Lenders are preparing to cut the credit lines to a group of junk-rated shale oil companies by as much as 30% in the coming days, dealing another blow as they struggle with a slump in crude prices, according to people familiar with the matter. Karoon Gas spuds Echidna-1 exploration well in Santos basin Karoon Gas Australia has announced the spudding of the third well—the Echidna-1 exploration well—in its Santos basin drilling campaign. Shell one step closer to Chukchi Sea drilling U.S. Interior Secretary Sally Jewell on has validated the 2008 sale of oil and gas leases in the Chukchi Sea, a decision that brings Royal Dutch Shell a step closer to winning approval of drilling in those remote Arctic waters. George Kirkland to retire from Chevron SAN RAMON, California -- Chevron Corp. has confirmed that George L. Kirkland, vice chairman and executive V.P., Upstream, will retire from the company, effective June 15. Cameron names new V.P. of Marketing and CTO Cameron has elected Justin Rounce for the newly created position of V.P., Marketing and Chief Technology Officer (CTO), effective Mar. 23.