Extending the life of oil and gas production from the UK Continental Shelf and taking full advantage of the related supply chain could generate more than £290 billion of extra revenue through 2035, says Oil & Gas UK in a policy proposal for the next government. Source: News

Sanjiv Singh has been named chairman of Indian Oil Corp. Ltd., succeeding B. Ashok. Source: News

Tesoro Corp. and Tesoro Logistics LP will change their names to Andeavor and Andeavor Logistics LP, respectively, on Aug. 1. Source: News

US Secretary of the Interior Ryan Zinke dramatically concluded his 5-day visit to Alaska by signing a secretarial order to jump-start oil production within the National Petroleum Reserve-Alaska. The May 31 order also called for updated resource assessments along Alaska’s North Slope (ANS), including the federally managed 1002 Area on the Arctic National Wildlife Refuge’s […]

US crude oil inventories fell for an eighth straight week and drawdowns appear to be expanding. Source: News

Crude oil prices fell more than $1/bbl on the New York and London markets on May 31 but regained some ground in June 1 trading pending release of a weekly government report on US oil and product inventories. Source: News