Light, sweet crude oil dropped moderately Apr. 24 to settle under $66/bbl on the New York market while Brent for June delivery rose slightly on the London market to settle above $74/bbl for a third consecutive day. Source: News

PetroNeft Resources PLC, Dublin, said state approval of reserves estimates for Cheremshanskoye oil field in West Siberia allows it to evaluate development options. Source: News

US crude oil inventories for the week ended Apr. 19, excluding the Strategic Petroleum Reserve, increased by 5.5 million bbl from the previous week, data from the US Energy Information Administration showed. Source: News

Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to an analysis from Rystad Energy. Source: News

ExxonMobil Corp. has taken final investment decision to proceed with an expansion project to increase production of ultralow-sulfur diesel by nearly 45% at subsidiary Esso Petroleum Co.’s 270,000-b/d Fawley refinery near Southampton, UK. Source: News

Occidental Petroleum Corp. has set forth terms of a deal to acquire Anadarko Petroleum Corp. that it calls “superior” to the recently-accepted proposal by Chevron Corp. Source: News

Shenghong Refining & Chemical Co. Ltd. has let a contract to Axens to provide residue hydrocracking process technology to boost naphtha production at its integrated complex in Lianyungang City in China’s province of Jiangsu. Source: News

The US Chemical Safety Board called on the US Environmental Protection Agency to review its existing hydrofluoric acid (HF) study to determine if existing regulations are effective and whether inherently safer alkylation technologies are a better option at oil refineries. Source: News

PetroChina Co. Ltd. will operate the exploration of two blocks in China’s Beibu Gulf under a contract with CNOOC China Ltd. Source: News

Shell Offshore Inc. announced an oil discovery at the Blacktip prospect in the deepwater US Gulf of Mexico offshore Texas.  Source: News