EIA: US crude oil inventory climbed 6.6 million bbl

US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.6 million bbl to an estimated total of 536.6 million bbl for the week ended Apr. 8 compared with the previous week, the Energy Information Administration reported Apr. 13. Source: News


Report projects US, Canadian infrastructure outlays through 2035

The US and Canada will require an average $26 billion/year, or $546 billion from 2015 to 2035, to build new natural gas, crude oil, and natural gas liquids infrastructure, a study commissioned by the INGAA Foundation Inc. concluded. Source: News


MARKET WATCH: NYMEX oil price climbs above $42/bbl, reaching 2016 high

Light, sweet crude oil prices for May delivery climbed nearly $2 on the New York market Apr. 12 to settle slightly above $42/bbl, marking the highest front-month closing for the year so far. Brent crude oil prices on the London market for June closed above $44/bbl. Source: News


SPE IOR: Nanoparticles, polymers among tech advancements

Upstream technology advancements often materialize during hard times for industry such as low oil prices, Janeen Judah, 2017 president-elect of the Society of Petroleum Engineers and general manager for Chevron Corp.’s Southern Africa business unit, told SPE IOR conference participants in Tulsa Apr. 12. Source: News


Saipem signs third MOU for work in Iran

Saipem has entered a memorandum of understanding (MOU) with Razavi Oil & Gas Development Co., Tehran, about possible cooperation in the development of Toos natural gas field 100 km northeast of Mashhad, Iran. Source: News


Merit Energy to buy Marathon’s Wyoming assets for $870 million

Merit Energy Co., Dallas, has agreed to acquire all of the upstream and midstream assets in Wyoming that belong to Marathon Oil Corp., Houston, for $870 million, a Marathon official confirmed to OGJ on Apr. 12. Source: News