The light, sweet crude price for June delivery fell by more than $1/bbl for a second consecutive day on the New York market May 3 pending release of the weekly government inventory report on oil and products. Source: News
PHMSA working to address gas storage problems, administrator says
The US Pipeline & Hazardous Safety Administration is moving ahead with the US Department of Energy to address natural gas storage problems exemplified by the late-2015 leak at Southern California Gas Co.’s Aliso Canyon facility near Los Angeles that took months to stop, PHMSA Administrator Marie Therese Dominguez said. Source: News
Al Mansour named Aramco general counsel, corporate secretary
Nabeel Al Mansour has been named general counsel and corporate secretary for Saudi Aramco. Source: News
OTC: Egypt eyes free-market future as gas demand requires more development
The recent Zohr discovery in Egypt’s Mediterranean basin has given the country an impetus to further its move to an open oil economy, according Minister Tarek Elmolla of Egypt’s Petroleum and Mineral Resources Ministry. Source: News
Anadarko posts $1 billion first-quarter net loss
Anadarko Petroleum Corp. recorded a first-quarter net loss of $1.034 billion compared with a fourth-quarter 2015 net loss of $1.25 billion and a first-quarter 2015 net loss of $3.268 billion. Source: News
OTC: Mexico implementing energy reforms, stressing transparency
Mexico plans to issue updates on its bidding process on May 15 for its Round 1 fourth bid involving deepwater and ultradeepwater blocks, panelists told a May 3 session of the Offshore Technology Conference in Houston. Source: News
Production resumes from Oyo-8 well offshore Nigeria
Production has resumed from the Oyo-8 well offshore Nigeria after the Island Constructor light well intervention (LWI) vessel successfully completed work, Erin Energy Corp. reported on May 3. Source: News
Swap deal to boost Statoil’s stake in Lundin
Statoil ASA has agreed to divest its entire 15% interest in Edvard Grieg field on PL338 offshore Norway to Lundin Petroleum AB in exchange for an increased shareholding in Lundin. Source: News
US manufacturers’ demand for gas to grow, NAM-commissioned study says
Abundant US natural gas supplies have strengthened manufacturing significantly, but major investments will be needed in pipelines and other systems to meet future demand for gas to generate power and keep manufacturers strong, a study commissioned by the National Association of Manufacturers concluded. Source: News
Woodside, Talisman complete sale of Timor Sea fields
Partners Woodside Petroleum Ltd. and Talisman Energy Ltd. have completed their joint 2015 deal to sell mature Laminaria and Corallina oil fields in the western Timor Sea. Source: News