MARKET WATCH: NYMEX, Brent crude oil prices climb on Nigerian disruptions

Light, sweet crude oil prices jumped more than $1/bbl on June 6 on the New York market to settle at nearly $49.60/bbl, the highest front-month contract since July 21, 2015, while the August contract for Brent crude oil settled at $50.55/bbl, marking Brent’s highest front-month contract since Oct. 9, 2015. Source: News


Bad climate policies are riskier than fossil fuels, authors argue

Misguided government climate policies that demonize fossil fuels potentially could stifle significant economic growth and improved North American energy security, two speakers warned at the Heritage Foundation. Source: News


Devon to divest upstream assets for $1 billion

Devon Energy Corp., Oklahoma City, said it is selling about $1 billion in upstream assets to undisclosed buyers. The sales are expected to be completed in this year’s third quarter. Source: News


Tanzania’s Songo Songo gas plant enters commercial operation

Tanzania Petroleum Development Corp. (TPDC) has commissioned its newly expanded Songo Songo gas plant to process production from Aminex PLC subsidiary Ndovu Resources Ltd.’s Kiliwani North field on Songo Songo Island, 15 km off mainland Tanzania. Source: News