• TOBS/SN 70 Base Oil FOB USA prices increased by 4% in since January 2013 price.
• US oilfield service provider Halliburton and Russia’s state-run energy company Gazprom Neft have agreed to cooperate on introducing new technologies to improve operational efficiency in Russia
• US Refiners hike Paraffinic and Napthen ic Base Oil prices in the range of 10 – 20 cents per gallon.
• US-based energy independent Hess Corp. has agreed to sell its Energy Marketing business for US$1.025 billion to UK-based Centrica offshoot Direct Energy.
• Chevron Products Company, introduced its new GST® Premium 32 turbine oil. Base Oil Report: Chevron Products Company, a Chevron U.S.A. Inc. division, maker of technologically advanced engine oils, lubricants and coolants, today introduced its new GST® Premium 32 turbine oil. The new oil has exceptional thermal and oxidative stability and meets strict requirements of a wide variety of turbine OEMs, including Mitsubishi Heavy Industries, Siemens and Alstom. The product is well suited for power generation applications in markets like petrochemical production, utilities and heavy industry.
• USA refiners to hike Paraffinic & Napthenic Base Oil prices in the range of 15 – 25 cents per gallon.
• Strong growth in US gas expected: Worley Parsons.

• Forecasting Iraq’s oil and gas capital spending – More than $450bn could be spent over the next two decades, earning $6 trillion in revenues.
• Hungary’s Mol Nyrt., has stated that production at the Shaikan Block Field Development in the Kurdistan region of Iraq was close after the firm got approval from the regional government.
• Daewoo Engineering and Construction has been awarded an EPC contract to upgrade the Akkas gas field in western Iraq according to Dow Jones. The South Korean company is said to have completed the project worth US$708.6 million within 46 months, the newswire said citing a statement released by Iraq’s cabinet.