North Sea Brent crude oil prices averaged $47/bbl in May, a $5/bbl increase from April and the fourth consecutive monthly increase since reaching a 12-year low of $31/bbl in January. Growing global oil supply disruptions, rising oil demand, and falling US crude oil production have contributed to the price increase. Source: News

Holly Energy Partners LP has acquired 50% interest in Cheyenne Pipeline LLC, owner of Cheyenne Pipeline, for $42.5 million. The other 50% interest is owned by an affiliate of Plains All American Pipeline LP, which will continue to operate the line. Source: News

Morocco’s Office National des Hydrocorbures et des Mines (ONHYM) has set an Aug. 19 deadline for acreage in the Gharb Centre area of the greater Gharb basin in the northern portion of the country. The tender includes 1,362 sq km of acreage, excluding three zones where ONHYM fields and infrastructure exist. Source: News

Royal Dutch Shell PLC subsidiary Shell Chemical Appalachia LLC has taken final investment decision to build a grassroots petrochemical complex about 30 miles northwest of Pittsburgh that will produce ethylene and polyethylene (PE) from low-cost Marcellus and Utica shale ethane. Source: News

Ricardo Darre will take the role of chief executive officer of Argentina’s 51% state-owned YPF SA effective July 1. Source: News

Tom Williams, a former official of the US Department of Energy, has been retained by HBW Resources LLC to help manage a new partnership with the Research Partnership to Secure Energy for America. Source: News

Costs have risen and startup schedules have been extended for Sasol Ltd.’s integrated ethane cracker and downstream derivatives complex under construction in Westlake, La., near Lake Charles. Source: News