Apparent German support for the controversial Nord Stream 2 pipeline across the Baltic Sea is wavering. Chancellor Angela Merkel said after meeting with Ukrainian President Petro Poroshenko that the pipeline cannot advance unless Ukraine retains a role as a transit country for Russian natural gas bound for Europe.  Source: News

A company spokesperson has confirmed that ConocoPhillips is cutting 450 jobs across its UK operations between this October and April 2020. Source: News

Supplies of Canadian oil sands heavy crude are increasingly being refined on the US Gulf Coast (USGC) and could top 1.2 million b/d—a full one third of the region’s heavy oil refining market—by 2020, according to an IHS Markit report. Current runs of Canadian crude in the USGC market are estimated to already be more […]

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 3.3 million bbl for the week ended Apr. 6, according to US Energy Information Administration data. Source: News

Mobil Producing Nigeria Unlimited let a contract to Subsea 7 for production uplift pipeline projects in shallow water offshore Nigeria. Source: News

Total E&P USA Inc., alone and in a combine with Statoil Gulf of Mexico LLC, led successful bidders for Gulf of Mexico properties sold at auction in the bankruptcy of Cobalt International Energy Inc., according to a court filing. Successful bids totaled $577.9 million.  Source: News

Brent crude oil for June delivery jumped by more than $2/bbl to settle above $71/bbl on Apr. 10. It was the front-month’s highest closing price since December 2014, which analysts attributed to rising tensions about a possible military strike against Syria and a weakening US dollar. Source: News