The US and Canada will require an average $26 billion/year, or $546 billion from 2015 to 2035, to build new natural gas, crude oil, and natural gas liquids infrastructure, a study commissioned by the INGAA Foundation Inc. concluded. Source: News

Light, sweet crude oil prices for May delivery climbed nearly $2 on the New York market Apr. 12 to settle slightly above $42/bbl, marking the highest front-month closing for the year so far. Brent crude oil prices on the London market for June closed above $44/bbl. Source: News

Upstream technology advancements often materialize during hard times for industry such as low oil prices, Janeen Judah, 2017 president-elect of the Society of Petroleum Engineers and general manager for Chevron Corp.’s Southern Africa business unit, told SPE IOR conference participants in Tulsa Apr. 12. Source: News

Saipem has entered a memorandum of understanding (MOU) with Razavi Oil & Gas Development Co., Tehran, about possible cooperation in the development of Toos natural gas field 100 km northeast of Mashhad, Iran. Source: News

Merit Energy Co., Dallas, has agreed to acquire all of the upstream and midstream assets in Wyoming that belong to Marathon Oil Corp., Houston, for $870 million, a Marathon official confirmed to OGJ on Apr. 12. Source: News

The US Energy Information Administration forecasts in its April Short-Term Energy Outlook that, during the April-through-September summer driving season this year, US regular gasoline retail prices will average $2.04/gal, compared with $2.63/gal last summer. Source: News