Qatar Petroleum has agreed to acquire 30% interest from Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corp., in the Cap Rhir Deep, Cap Cantin Deep, and Cap Walidia Deep leases offshore Morocco. Source: News

Light, sweet crude oil prices dropped Feb. 8 to settle back under $30/bbl, and the downward momentum continued in early Feb. 9 trading after the International Energy Agency issued a report in which it maintained its expectations for sluggish additional crude demand during 2016. Source: News

PA Resources AB, Stockholm, has agreed to divest its North Sea interests to Petrogas E&P, Muscat. Source: News

The Obama administration’s forthcoming fiscal 2017 federal budget proposal probably will contain provisions harmful to the US oil and gas industry beyond the $10/bbl crude oil tax that the White House announced last week, two major national oil and gas associations’ top officials warned. Source: News

Crude oil production in March from seven major US shale plays is expected to fall 92,000 b/d to 4.92 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). Source: News

Three workers were killed after a fire struck the compression unit of the Abkatun A platform in the Bay of Campeche over the weekend, Petroleos Mexicanos (Pemex) said on Feb. 7. Source: News