Nigerian Government To Resume Militant Payments. The Nigerian government is set to resume cash payments to militants in the oil-rich Niger Delta region in an attempt to curb attacks on oil and gas infrastructure, according to Reuters. [Oilpro]
Bear Market Arrives For Crude Oil Prices. US oil prices slipped below the $40 mark for the first time in three months today in New York, as the market fell into a bear market as concerns over a global supply glut continue. [Oilpro]
Crude Oil May Rebound Next Year. Analysts are already looking to the future for a potential $57 rebound. [Bloomberg]
Report: Offshore Oil And Gas Leaks On Rise. According to Oil And Gas UK’s annual health and safety report, hydrocarbon releases rose by 9 percent to 87 in 2015, however the majority were classified as minor. [Oilpro]
Petronas May Delay Canadian LNG Project. The global gas glut has Malaysian’s state oil company weighing its options and perhaps delaying the Pacific NorthWest LNG project in British Columbia. [Oilpro]
Maersk Drilling To Cut Jobs. Maersk Drilling said they were going to cut 122 U.S. jobs because of the early termination of a contract for the deepwater rig Maersk Valiant, a Maersk spokesman told Reuters. [Oilpro]
Extensive Damage Reported On Bakken Pipeline Project. Nearly $1 million in damage to construction equipment at the Bakken pipeline project has been reported as arson, according to state and local authorities in Iowa. [Oilpro]
China Petroleum & Chemical To Sell Major Part of Asset. The world’s biggest refiner recently approved plans to sell as much as 50 percent of a pipeline to another company. [Bloomberg]
Russian Oil Output Rises in July. Russian oil production climbed to 10.85 million barrels a day, extending a run of year-on-year gains to 24 months. [Bloomberg]
North Sea Strike Woes Continue. Workers on Shell rigs in the North Sea continue their ongoing protests, with a 48-hour stoppage this week. [Oilpro]