In its May Oil Market Report, the International Energy Agency states that the global oil market is “staying on course” to be balanced. Source: News

Jack A. Fusco has been appointed by Cheniere Energy Inc. as its president and chief executive officer. He succeeds Neal A. Shear, who has served as Cheniere’s interim president and chief executive officer since December 2015. Source: News

ExxonMobil Corp. subsidiary Mobil Refining Australia Pty. Ltd. is planning a multimillion-dollar (Aus.) investment to execute projects to expand capacity and improve efficiency at its 80,000-b/d Altona refinery in Victoria, 13 km west of Melbourne. Source: News

Eni SPA has begun a project to generate electricity from renewable sources near sites of its oil and gas operations, often on reclaimed land. Source: News

Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has sent back Chevron Australia’s start-up and operations environment plan for the Wheatstone domestic gas-LNG project off Western Australia saying the plan is not sufficiently robust. Source: News

Four US House members—Bill Flores (R-Tex.), Peter Welch (D-Vt.), Bob Goodlatte (R-Va.), and Jim Costa (D-Calif.)—introduced legislation that would limit ethanol blended into motor fuels at 9.7% of projected gasoline demand as determined by the US Energy Information Administration. Source: News

OMV AG reported in a May 11 conference call that its overall capital spending was down in this year’s first quarter compared with the same quarter in 2015. Spending for the first quarter was 34% lower than the same period in 2015. Upstream exploration expense was down 24% with a decrease of 13% in dollars […]