ESAI: Tariff on Mexican crude could be resolved

US President Donald Trump announced that he would impose a 5-25% tariff on all Mexican goods. There are ways to avoid the tariff on imports of Mexican crude oil, but at this point it is unclear whether those will succeed, according to an analysis from Energy Security Analysis Inc. If not, ESAI says, some refiners […]

MARKET WATCH: NYMEX prices fall amid tariff woes

Front-month prices for light, sweet oil for July and August delivery fell more than $3 to settle below $54/bbl on the New York market May 31 while Brent prices for the August delivery contract also dropped more than $3 to below $62/bbl amid additional tariff concerns. Source: News

Second Total solar plant in Japan starts

Total SA has started commercial operation of its second solar power plant in Japan, a 25-Mw unit at Miyako on Honshu Island. Source: News

Contract let for B-80 field off Mumbai

Hindustan Oil Exploration Co. has let a contract to Expro for a production-handling facility and all topside processing equipment on a mobile offshore production unit on B-80 oil and gas field in the Mumbai basin. The 7-year contract covers construction, maintenance, and operation. Equipment delivery is due in 8 months. Source: News

Hints of GCC healing emerge amid meetings in Mecca on Iran

Denunciation of Iran after emergency meetings in Mecca of the Gulf Cooperation Council, Organization of Islamic Cooperation, and Arab League obscured hints of hope for relations between Qatar and four countries blockading it.   Source: News

Marathon Oil closes Kurdistan divestiture

Marathon Oil Corp. closed on the sale of its 15% participating interest in the Atrush block in Kurdistan, where first-quarter production averaged 2,400 net boed. The divestiture marks the company’s exit from the country. Source: News

Baker Hughes: US rig count down 1 unit to 984

The US drilling rig count gained a single rig to reach 984 rigs working for the week ended May 31, according to Baker Hughes data. The count is down 76 units from the 1,060 rigs working this time a year ago. Source: News

SOCAR, Tefken eye urea plant in Azerbaijan

State Oil Co. of the Azerbaijan Republic (SOCAR) and Tekfen Holding, Istanbul, have signed a memorandum of understanding on construction of a urea production facility at Sumgayit, Azerbaijan. Source: News

ESAI: Russian oil production set to recover

Russian production fell by 170,000 b/d from April to May as the disruption to oil exports caused output to fall to 60,000 b/d less than the production-cut commitment. The last hurdle is restoring 750,000 b/d via the northern leg of Druzhba. Source: News

EPA final rule will permit year-round E15 fuel sales

A final rule signed May 31 by US Environmental Protection Agency Administrator Andrew R. Wheeler that waives summertime Reid Vapor Pressure limits and allows year-round sales of gasoline with a 15% ethanol blend was met with disappointment by refiners and with delight by corn ethanol producers. Source: News