Light, sweet crude oil on the New York market and Brent crude oil prices in London gained for a second consecutive trading session June 7. Each of the two oil benchmarks rallied to settle more than $1/bbl higher compared with the previous settlement. Source: News
Total’s Leuna refinery operating at reduced rates
Total SA subsidiary Total Raffinerie Mitteldeutschland GMBH has halted operations of some units at its 241,000-b/d Leuna refinery in Germany following contamination issues resulting from supplies of Russian crude oil volumes. Source: News
Delek to expand midstream operations
Delek US Holdings Inc. and its logistics arm Delek Logistics Partners LP are expanding midstream operations to gain access to crude oil feedstock sourced at Cushing, Okla., as part of a plan to increase and improve crude flexibility at Delek US refineries. Source: News
Divisive bills raise odds in Canada for Trans Mountain nod
Two bills making the oil and gas industry anxious have survived in the Canadian Senate—one less damaging than its original version and one not. Source: News
Baker Hughes: US rig count down 9 units to 975
The US drilling rig count fell 9 units, reaching 975 rigs working for the week ended June 7, according to Baker Hughes data. The count is down 87 units from the 1,062 rigs working this time a year ago. Source: News
Court rule allows Petrobras gas line sale
A June 6 ruling by Brazil’s Supreme Court allows Petrobras to proceed with its $8.6 billion sale of a 90% interest in the Transportadora Associada de Gas SA natural gas pipeline to a combine of Engie and Caisse de Depot et Placement du Quebec. Source: News
Baker Hughes: International rig count jumps 64 units
The international rig count for May reached 1,126, up 64 units from 1,062 in April and up 159 units from 967 in May 2018, according to Baker Hughes data. The international offshore rig count for May was 240, down 11 units from 251 in April and up 42 units from 198 in May 2018. Source: News
CNOOC subsidiary due 10% interest in Arctic LNG 2
CNOOC Ltd. and its subsidiary CEPR Ltd. have signed an agreement with Novatek and Ekropromstroy LLC, a wholly-owned subsidiary of JSC Novatek, to acquire a 10% equity interest in Arctic LNG 2 LLC. Source: News
PGNiG to buy Total’s King Lear interest
PGNiG Upstream Norway said it will acquire Total E&P Norge’s 22.2% interest in King Lear gas and condensate field under development in the Ekofisk area of the Norwegian North Sea. Source: News
Nigerian regulator revokes six licenses
Nigeria’s Department of Petroleum Resources has revoked five oil mining leases and one oil prospecting license. It cited “noncompliance with statutory regulatory obligations” and said it was acting under a “presidential directive on recovery of legacy debts.” Source: News