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Saab supplying fuze systems for Meteor missile

Oct. 19 (UPI) — Radar proximity fuze systems for MBDA’s Meteor beyond visual range air-to-air missile are to be produced by Saab Defense. The contract for the missile sub-systems is worth nearly $18.4 million, Saab said in a press release on Wednesday. Deliveries to MBDA will take place in 2020 …

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Cuban oil drilling ready for 2018

Oct. 20 (UPI) — While looking for partners to join in, Australian energy company Melbana said it was positioned for an early start to an oil drilling program in Cuba next year. Melbana is one of the few foreign companies, and the only one listed on the Australian exchange, with …

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Libyan oil production gains limited

Oct. 20 (UPI) — War damage to port facilities in Libya could constrain production to around 1.25 million barrels per day, analysis from consultant group Wood Mackenzie found. Secondary sources reporting to the economists at the Organization of Petroleum Exporting Countries said Libya produced an average 923 million barrels of …

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Kurdish oil operations proceeding as normal

Oct. 20 (UPI) — A day after U.S. supermajor Chevron said it was standing down in the Kurdish north of Iraq, British company Gulf Keystone Petroleum said all was well. “Gulf Keystone confirms that its operations in Kurdistan continue safely and securely with the company achieving average production of 34,525 …

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Schlumberger sees clear signs of balance

Oct. 20 (UPI) — There are clear signs the global oil market is balanced, which would support higher oil prices and investments if sustained, the head of Schlumberger said. “The reduction in global oil inventories in the third quarter is clearly showing that the oil market is now in balance, …

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