Entirely comprising oil-directed units, the US drilling rig count increased by 10 during the week ended Aug. 19, according to data from Baker Hughes Inc. Source: News

A dispute between disgruntled landholders in Papua New Guinea’s Hela province and the Papua New Guinea government is now nearing the end of its second week, with protesters restricting access to the Hides gas conditioning plant. Source: News

Statoil ASA has submitted a plan for development and operation (PDO) for the 2005 Byrding discovery to Norwegian authorities, and said recoverable volumes are estimated at 11 million boe. Source: News

Energean Oil & Gas, Athens, has committed to submit within 6 months a development plan for deepwater Karish and Tanin natural gas and condensate fields offshore Israel, 100% interests in which it agreed to acquire. Source: News

Belayim Petroleum Co. (Petrobel), a joint venture of wholly owned Eni SPA subsidiary IEOC Production BV and Egyptian General Petroleum Corp., has let a contract to Frames Group BV, Alphen aan den Rijn, the Netherlands, to provide processing equipment for a gas plant connected to the first phase of development of deepwater Zohr natural gas […]

Brent crude oil prices for October delivery rose by more than $1 on the London market Aug. 18 to close at nearly $51/bbl while light, sweet crude oil prices on the New York market rose by more than $1.40 to settle above $48/bbl. Source: News