DUBAI--Saudi Arabia has cut its September price for its Arab Light grade for Asian customers by 75 cents/bbl versus August to a premium of $1.70/bbl to the Oman/Dubai average, state oil company Aramco said on Aug. 4.
It raised its September Arab Light OSP for Northwest Europe, setting it at a discount of $0.05 a barrel to ICE Brent, up $2.65/bbl from August.
The Arab Light OSP to the United States was set at a premium of $2.85/bbl to the Argus Sour Crude Index (ASCI) for September, unchanged from the previous month.
BP signed an agreement with Angola aimed at acquiring oil further exploration rights, the latest in a flurry of agreements between oil majors and Africa's second-biggest exporter.
The Senegal government recently gave the greenlight for the project, which is expected to produce 231 million barrels (MMbbl) of oil resources in its initial phase of development and strike first oil in the next three years.
The U.S. Treasury Department on Jan. 18 granted permission for Chevron Corp, the last major U.S. oil company operating in Venezuela, to continue working in the country until April 22.