Oil’s share of the global energy market will decline but remain dominant through 2040 as natural gas becomes the fastest-growing fossil fuel, predicts the US Energy Information Administration. Source: News

Alberta’s wildfires have created havoc, but Alberta Energy Regulator said on May 10 it had no reports of damage to energy facilities. Source: News

Freeport-McMoRan Oil & Gas LLC (FMOG) and its parent company Freeport-McMoRan Inc. have agreed with drilling contractor Noble Corp. PLC to cancel contracts for the Noble Sam Croft and Noble Tom Madden drillships. Source: News

AWE Ltd., Sydney, has rejected an unsolicited $421-million (Aus.) takeover proposal from global private equity group Lone Star Fund. Source: News

ExxonMobil Corp. has restarted the fluid catalytic cracker (FCC) at its 155,000-b/d refinery in Torrance, Calif., after more than a year following a Feb. 15, 2015, explosion and ensuing fire shuttered the unit. Source: News

Whitecap Resources Inc., Calgary, has agreed to acquire certain assets in southwestern Saskatchewan from Husky Energy Inc., Calgary, for $595 million (Can.). The sale is subject to regulatory approval. Source: News

US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 3.4 million bbl from the previous week’s average, according to the US Energy Information Administration’s latest Petroleum Status Report. Source: News

Light, sweet crude prices gained more than $1/bbl, reversing losses from the day before, in volatile trading as analysts and traders weighed the consequences of various production outages worldwide against lingering oil oversupply levels. Source: News

Anyone baffled by Donald Trump’s success might find enlightening a message from Europe delivered at the Brookings Institution in Washington, DC, on May 3. Source: News

Douglas J. Pferdehirt has been named president and chief executive officer of FMC Technologies Inc. effective Sept. 1. Source: News