Light, sweet crude prices for August delivery gained modestly in light trading on the New York market July 1 before trading was closed July 4 for Independence Day holiday weekend in the US. Prices fell to under $48/bbl in early July 5 trading. Source: News

Chevron Corp. affiliate Tengizchevroil (TCO) will proceed with development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP) to increase crude oil production at Kazakhstan’s Tengiz oil field by 260,000 b/d. Source: News

Chevron Corp. affiliate Tengizchevroil (TCO) will proceed with development of its Future Growth and Wellhead Pressure Management Project (FGP-WPMP) to increase crude oil production at Kazakhstan’s Tengiz oil field by 260,000 b/d. Source: News

Philippe Sauquet has been named president of Total SA’s new gas, renewables, and power branch in a reorganization triggering other executive-level changes. Source: News

Low oil prices will continue to impact deepwater capital expenditure (capex) over the next 5 years. Industry headlines have been dominated for the past 12 months by implications of the sustained downturn and operators have responded by announcing widespread redundancies, reducing budgets, and deferring new projects. Source: News

Low oil prices will continue to impact deepwater capital expenditure (capex) over the next 5 years. Industry headlines have been dominated for the past 12 months by implications of the sustained downturn and operators have responded by announcing widespread redundancies, reducing budgets, and deferring new projects. Source: News

Recoverable reserves of hydrocarbon liquids will grow 614 billion bbl from 2014 to 2044. Natural gas reserves will increase 87 trillion cu m (tcm) in the same 30-year period. This estimate results from a new region-specific model for assessing global reserve growth. Source: News

Recoverable reserves of hydrocarbon liquids will grow 614 billion bbl from 2014 to 2044. Natural gas reserves will increase 87 trillion cu m (tcm) in the same 30-year period. This estimate results from a new region-specific model for assessing global reserve growth. Source: News

Oil demand is often viewed as being determined by the state of the global economy. Given that crude oil is storable, the real price of oil also depends on the demand for storage. Source: News

Oil demand is often viewed as being determined by the state of the global economy. Given that crude oil is storable, the real price of oil also depends on the demand for storage. Source: News