US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 2.2 million bbl for the week ended May 4, according to US Energy Information Administration data.   Source: News

Transocean Ltd., through a joint venture with funds managed by Hayfin Capital Management LLP, has purchased 33.3% interest in the West Rigel, a newbuild harsh-environment semisubmersible drilling rig, that will be renamed the Transocean Norge.  Source: News

Crude oil prices on markets in New York and London dropped more than $1/bbl May 8 after US President Donald Trump announced the US was withdrawing from a 2015 international agreement that lifted sanctions against Iran. Source: News

Government policies will continue to play a major part in emerging energy technologies, speakers suggested at a May 8 Atlantic Council discussion. “It’s not just about research. It’s about the economic system the research is going into. That’s why it’s necessary to look at the whole system, and not just the companies, universities, or government […]

A regional crude price deeply discounted by pipeline congestion might cost energy companies in Canada $15.8 billion (Can.) this year, according to a new report. Source: News