EIA: US crude stockpiles decrease 12.6 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 12.6 million bbl for the week ended July 6, according to US Energy Information Administration data. Source: News


MARKET WATCH: Crude oil benchmarks gain before Libya reopens ports

Light, sweet crude oil prices gained on the New York market July 10 as did Brent crude prices on the London market. But Brent fell July 11 upon reports Libya’s National Oil Corp. lifted its force majeure on eastern oil ports. Source: News


Navitas Midstream lets contract for new gas plant in Midland basin

Navitas Midstream Partners LLC, The Woodlands, Tex., has let a contract to a division of Honeywell UOP LLC to deliver a 200-MMcfd cryogenic natural gas processing plant to extract NGLs from gas produced from several counties in the Midland basin of the West Texas Permian basin. Source: News


Savannah logs third Niger oil discovery

Results of Savannah Petroleum PLC’s third indicated oil discovery in the productive Agadem Rift basin of Niger support plans for an early production system, says Chief Executive Officer Andrew Knott. Source: News