Energy CEOs Back UK To “Remain” In Europe. Chief executives at three of the top four UK oil and gas producers have publicly backed the campaign?to keep the UK within the European Union. [Oilpro]
Oil Rises As Investors Focus On Britain’s EU Referendum. Oil prices rose by up to 2 percent on Thursday, shrugging off?a smaller than expected draw on U.S. crude stocks as money and equity markets?firmed after the last sweep of Brexit opinion polls?raised optimism over Britain remaining in the EU. [Reuters]
More Deals For Devon. Devon?Energy has announced a further US$858 million worth of asset sales last week, alongside plans to step up capital spending in its core areas. Pioneer Natural Resources?is buying some of these assets as it moves to consolidate its Permian?Basin?holdings and also step up drilling. [Oilpro]
EIA Reports Modest Draw?In U.S. Oil Inventories. The EIA’s weekly oil inventory report?showed a less-than-expected draw in oil stockpiles of 900,000 barrels. Read this insightful analysis?of the report by Andy Douglas. [Oilpro]
“Oversupply Has Disappeared,” New Saudi Oil Minister Tells Houston Chronicle. Speaking to the Houston Chronicle, Saudi Arabian Oil Minister Khalid al-Falih?said the oil supply glut that has depressed oil prices since mid-2014 has “disappeared.”?He spoke to the paper while visiting Saudi Aramco operations in Houston. [Oilpro]
World’s 2nd-Biggest Sovereign Fund?Sees Oil Glut Until Mid-2017. The global oil glut will probably persist until at least next summer?as markets take time to absorb excess crude in storage, according to the head of research at the world’s second-largest sovereign wealth fund. [Bloomberg]
Proserv?Secures Two GOM Contracts. Proserv has won two significant contracts in the Gulf of Mexico. The deals with Talos Energy and Hess?Corp.?will see Proserv carry out work at the operators’ respective Phoenix and Conger?field expansion developments. [Oilpro]
Russia Expedites Domestic LNG Industry. Russia’s two largest gas producers, Gazprom and Novatek, are looking to develop a home-grown LNG industry,?with the help of foreign investors. [Oilpro, naturalgaseurope.com]
Wentworth Updates Mozambique Activities. Wentworth?says Mozambique’s minister of minerals and energy has approved its operatorship and appraisal plan?for the gas discovery made at the Tembo-1?well in December 2014. [Oilpro]
Hess Denmark Renews Integrity Inspection Contract?With DNV GL. Hess Denmark ApS has awarded a contract to DNV GL to provide asset integrity inspection management of its South Arne?field?including Risked Based Inspection?(RBI) services and Non-Destructive Testing?(NDT) inspection services. [Oilpro]
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