Privately held Vesta Energy Corp., Calgary, will accelerate development of light-oil properties in the shallow Joffre Duvernay shale oil play of central Alberta with proceeds of an equity financing round. Source: News

Light, sweet crude oil for June delivery fell slightly May 16 to settle above $48.60/bbl pending the release of the weekly US oil and product inventory by the US Energy Information Administration on May 17. Source: News

Encouraging countries to make publicly traded companies disclose climate-related financial risks, as proposed by a Financial Stability Board (FSB) taskforce in December, could distort markets and confuse investors instead, an IHS Markit report warned. The consequences could be especially troublesome for oil and gas producers, speakers agreed during a May 16 discussion of the issue […]

LyondellBasell Industries NV has started construction of a grassroots high-density polyethylene (HDPE) plant at its petrochemical complex in La Porte, Tex. Source: News

Petroleo Brasileiro SA (Petrobras) has added the proposed sale of subsidiary Pasadena Refining Systems Inc.’s (PRSI) 100,000-b/d refinery in Pasadena, Tex., to a revised divestments portfolio recently approved by the company’s executive board following a mid-March decision on the divestment plan from Brazil’s Federal Court of Accounts, or Tribunal de Contas da Uniao (TCU). […]