Vaquero Midstream LLC, The Woodlands, Tex., has commissioned its Caymus I natural gas processing plant in Pecos County, Tex., in the southern Delaware basin. Source: News

Walter Thain, managing director of Petrofac Ltd.’s engineering and production services (EPS) West business, has been tabbed as chairman of the Oil & Gas UK’s Efficiency Taskforce (ETF), an industry initiative launched last year “to tackle the fundamental behaviors that drive cost escalation in the UKCS.” Source: News

David D. Powell has been named chief financial officer and executive vice-president of Cobalt International Energy Inc., Houston. He replaces Shannon E. Young III. Source: News

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, dropped 2.2 million bbl during the week ended July 1 compared with the previous week’s average, according to the US Energy Information Administration’s latest Petroleum Status Report. Source: News

Belayim Petroleum Corp. (Petrobel) has let an engineering, procurement, construction, and installation (EPCI) contract to Saipem for work in the accelerated development of Zohr natural gas field offshore Egypt. Source: News

PBF Holding Co. LLC, a subsidiary of PBF Energy Inc., Parsippany, NJ, has completed its acquisition of ExxonMobil Corp.’s 155,000-b/d Torrance, Calif., refinery, and related logistics assets. Source: News

Crude oil prices gained about 85¢ on the New York and London markets July 6 pending release of the weekly US crude and products inventory report, which was delayed a day later than normal because of the July 4 holiday. Source: News