http://www.worldoil.com WorldOil Neglected infrastructure forces Libya to reduce oil output https://www.worldoil.com/news/2021/1/15/neglected-infrastructure-forces-libya-to-reduce-oil-output The OPEC member’s output has fallen to around 1 million barrels daily in the wake of Waha Oil Co.’s decision to shut a key pipeline taking crude to Libya's largest oil port, Es Sider. U.S. blacklists CNOOC for “bullying” in the South China Sea https://www.worldoil.com/news/2021/1/15/us-blacklists-cnooc-for-bullying-in-the-south-china-sea China National Offshore Oil Corp. has for years drilled in waters far from its borders, and within 200 miles of countries including Vietnam and the Philippines. The activity amounts to the oil giant acting like a “bully” for China’s military to intimidate its neighbors, U.S. Commerce Secretary Wilbur Ross said in a statement announcing the move, which restricts access to U.S. technologies without specific permission. Marubeni retains Jefferies to market its North Sea oil and gas assets https://www.worldoil.com/news/2021/1/15/marubeni-retains-jefferies-to-market-its-north-sea-oil-and-gas-assets Marubeni Corp. could all but exit the UK North Sea as it looks to sell its main oil and gas fields in the region, according to people with knowledge of the matter. Saudis reduce oil supplies to Asian, European refiners after OPEC+ cut https://www.worldoil.com/news/2021/1/13/saudis-reduce-oil-supplies-to-asian-european-refiners-after-opecplus-cut Saudi Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they had sought, according to company officials who received the notices but asked not to be identified as the information is private. UAE warns U.S. shale producers against flooding market with oil https://www.worldoil.com/news/2021/1/13/uae-warns-us-shale-producers-against-flooding-market-with-oil With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.” U.S. projects higher oil output in 2022 from rebounding shale https://www.worldoil.com/news/2021/1/12/us-projects-higher-oil-output-in-2022-from-rebounding-shale The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022. IEA chief says U.S. shale is needed for now as oil prices climb https://www.worldoil.com/news/2021/1/12/iea-chief-says-us-shale-is-needed-for-now-as-oil-prices-climb A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview. Iraq follows Saudi Arabia’s lead with Asian crude price hike https://www.worldoil.com/news/2021/1/8/iraq-follows-saudi-arabia-s-lead-with-asian-crude-price-hike The second-largest OPEC member, Iraq increased Basrah Light crude to buyers in Asia by 70 cents a barrel, to a $1.10 premium over the regional benchmark, according to a price list from the state oil marketer. Senegal plans 2023 start for $4.3B BP-Kosmos gas program https://www.worldoil.com/news/2021/1/8/senegal-plans-2023-start-for-43b-bp-kosmos-gas-program The Grand Tortue Ahmeyim gas field development, straddling the offshore waters of Mauritania and Senegal, is expected to produce its first gas in 2023 following delays related to the coronavirus pandemic, according to Senegal’s Oil Minister Sophie Gladima. Petrobras matched Kuwait’s oil production in 2020 https://www.worldoil.com/news/2021/1/8/petrobras-matched-kuwait-s-oil-production-in-2020 In a year that brought the U.S. shale industry to its knees, the Brazilian state-run giant pumped an all-time-high 2.3 million barrels a day of crude, according to a statement Thursday. That’s about the same as OPEC member Kuwait.