Brent crude oil spot prices averaged $72/bbl in April, an increase of $6/bbl from the March level and the first time monthly Brent crude oil prices have averaged more than $70/bbl since November 2014. Source: News

International Frontier Resources Corp., Calgary, said its Tonalli Energia joint venture with Grupo IDESA will begin production tests soon of the first well on its Tecolutla Block in the Tampico-Misantla basin of Mexico.  Source: News

Inpex Masela Ltd. has let a pre-front-end engineering and design contract to KBR Inc. for the Abadi LNG project in eastern Indonesia. The subsidiary of Inpex Ltd., Tokyo, plans a 9.5 million-tonne/year plant to liquefy natural gas from offshore Abadi field.  Source: News

Royal Dutch Shell PLC subsidiary Shell Gas BV has agreed to sell all its interest in oil sands producer Canadian Natural Resources Ltd. Source: News

UKCS production efficiency (PE) rose for a fifth consecutive year, increasing to 74% in 2017, and the improvement is estimated to have contributed to an additional 11.8 million boe during 2017, reports the UK Oil & Gas Authority. Source: News

The light, sweet crude oil price for June delivery on the New York market settled above $70.70/bbl on May 7 while Brent crude oil prices in London settled above $76/bbl. Both benchmarks jumped by more than $1/bbl for a second consecutive trading session. Source: News