The offshore oil and gas industry is picking up on shorter-cycle, phased-development, making some projects more attractive to private equity, panelists told a May 2 session at the Offshore Technology Conference in Houston. Source: News

Light, sweet crude prices for June delivery gained modestly to settle under $68/bbl on the New York Mercantile Exchange May 2 while Brent crude oil prices for July delivery gained modestly in London to remain above $73/bbl. Source: News

The oil and gas industry is seeing incremental gains in the first phase of digital technology adoption, but the biggest disruption is yet to come. That change will be people-driven and will require collaboration, panelists said during a May 2 session at the Offshore Technology Conference in Houston.  Source: News

Russia’s oil and gas exports have continued to rise despite multilateral Western sanctions and an energy strategy that is not being aggressively pursued, the director of the Moscow School of Management’s Energy Center told a Washington audience. Source: News

Mike Sommers, who was chief of staff for US House Speaker John A. Boehner (R-Ohio) and had other House leadership roles for more than a decade before becoming president of the American Investment Council in 2016, was elected president of the American Petroleum Institute on May 2. Source: News

Royal Dutch Shell PLC subsidiary Shell Nanhai BV and China National Offshore Oil Corp.’s 50-50 joint venture CNOOC & Shell Petrochemicals Co. Ltd. (CSPC) has commissioned a second ethylene cracker at its existing petrochemical complex in the Daya Bay Economic & Technological Development Zone, Huizhou, Guangdong Province, China.   Source: News