Global oil refiners will suffer a 'soft patch' next year as new capacity in Mexico, Africa and the Middle East boosts fuel supply, according to Vitol Group's Head of Research.
Venezuela signed a contract with Etablissements Maurel & Prom that will allow the French driller to triple production following the easing of US oil sanctions.
Third-quarter net income was $184 million higher than the previous quarter, which Var Energi attributed to an increase in commodity prices and sold volumes.