Negotiations between the UK and European Union over British withdrawal—Brexit—will determine whether the cost of UK trade in oil and gas goods rises or falls. Source: News

The rig counts for the US and its largest drilling and production region each gained 7 units during the week ended May 5, according to data from Baker Hughes Inc. Source: News

The federal oil and gas permitting processes for interstate pipelines drew mixed reviews on May 3 as witnesses and members of the House Energy and Commerce Committee’s Energy Subcommittee discussed whether they need to be reformed or are operating as intended. Source: News

Russia’s PJSC Gazprom Neft, St. Petersburg, has reached 20% completion on construction of its previously announced project to build a Euro+ combined oil refining unit (CORU) as part of the ongoing modernization and upgrade of its 12.15 million-tonne/year Moscow refinery. Source: News