Harbour Energy Australia Pty. Ltd., Perth, has increased its previous offer for all of the shares of Santos Ltd., Adelaide, to $5.21/share. Source: News

Magellan Midstream Partners LP, Tulsa, will expand the western leg of its products pipeline system in Texas to handle incremental shipments of gasoline and diesel fuel to centers in Abilene, Midland-Odessa, and El Paso, Tex., and New Mexico. The pipeline also can access Arizona and Mexico via connections to other systems.  Source: News

US light, sweet crude oil and Brent crude oil prices both decreased May 18 to end a volatile trading week as analysts contemplated the effects upon world oil markets from planned US economic sanctions on Iran as well as on continuing oil production declines in Venezuela. Source: News

Production has begun from the first oil discovery to be declared commercial in the Philippines since offshore Galoc field, which came on stream in 2008. Onshore Algeria oil field started up at a combined rate of 360 b/d of oil from two wells in southern Cebu Island.   Source: News

The US Bureau of Safety & Environmental Enforcement’s proposal to modify the Blowout Preventer System and Well Control Rule imposed following the 2010 Macondo deepwater well blowout and crude oil spill reflects BSEE’s recent work to revise flawed regulations and make offshore oil and gas operations safer, and Independent Petroleum Association of America official said. […]

Kosmos Energy Ltd. will respud its first well offshore Suriname after the Anapai-1 encountered shallow-borehole stability issues. The well is testing an Early Cretaceous structural-stratigraphic concept on 5,126-sq-km Block 45.  Source: News