Iraq will launch new basra crude oil exports next year

SOMO has informed its customers that it plans to launch Basra Medium crude oil in January, which will be Iraq's third crude export grade. The API gravity of Basra crude oil is about 29 degrees.

Baker Hughes acquires Norwegian carbon Capture Technologies

Baker Hughes acquired Compact Carbon Capture (3C), a Norwegian carbon capture technology company. Based in Bergen, the company was founded by Fjell Technology Group, Equinor, Prototech and Sintef. Baker Hughes says the 3C technology solves the problem of carbon capture from different sources and could make a significant contribution to the decarbonisation of customer businesses.

EIA: Opec oil export revenue in 2020 is the lowest in 18 years

The EIA said in a report Friday that revenues for Opec members would fall to the lowest level since 2002, at about $323 billion. The EIA forecasts that Opec's net oil export income per capita will fall to $638 in 2020 from $1,201 in 2019.

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