Marathon oil is selling its Norwegian North Sea assets for $2.1 billion as it restructures to focus on US shale developments. “Det Norske, half owned by Aker, an oil services company majority-owned by Norwegian billionaire Kjell Inge Røkke, will increase its production 20-fold and become one of the biggest independent companies operating in the Norwegian part of the North Sea.” [Financial Times]

Kuwait is expected to sign a natural gas supply deal with Iran, which fits the theme of major Middle Eastern oil exporters looking to free up export capacity as domestic consumption increases along with population. Burning expensive oil for power generation in heavily oil-revenue-dependent economies is becoming untenable  “Iran, the Persian Gulf state with the world’s largest gas reserves, is looking to its closest neighbors as export markets for the fuel used to run power plants and feed petrochemical plants as it also offers supply to Europe. It’s in talks with global powers about agreeing to limits on its nuclear program in return for removal of sanctions on its energy and financial industries.” [Bloomberg]