The Organization of Petroleum Exporting Countries, Russia, and several other producers recently agreed to increase their production and achieve 100% compliance with the Vienna Agreement. Such determination to ensure the steady supply of oil to world markets in the face of multiple challenges to stability is very welcome, according to the International Energy Agency. […]

ADES International Holding Ltd., which provides oil and gas drilling and production services in the Middle East and Africa, announced plans to acquire 31 onshore drilling rigs from Weatherford International PLC for $287.5 million. Source: News

Compañía Española de Petróleos SA has let a contract to Honeywell UOP LLC to provide a series of services for conversion of an existing hydrofluoric acid alkylation unit in the Puente Mayorga chemical plant at Cepsa’s 12 million-tonne/year Gibraltar-San Roque refinery near Cadiz in southern Spain. Source: News

The price of Brent crude oil for September fell more than $5/bbl on the London market July 11 while the light, sweet crude oil price for August delivery fell by more than $3.70/bbl on the New York market upon news reports of resuming Libyan exports and the US-China trade dispute. Source: News

Petroleum Safety Authority (PSA) has granted Equinor consent for exploration drilling in two blocks in the Barents Sea. Source: News

The proposed Nord Stream 2 natural gas pipeline would leave Germany “totally controlled by Russia,” US President Donald J. Trump warned during a July 11 breakfast with European leaders at the North Atlantic Treaty Organization summit in Brussels. Source: News