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US and Brent crude oil benchmarks gained moderately on May 11 and continued rising in early May 12 trading, which analysts attributed to a weekly US government report showing the biggest draw to US oil inventories so far this year.

Anadarko Petroleum Corp., The Woodlands, Tex., has named Daniel E. Brown executive vice-president, international and deepwater operations, and Bradley J. Holly executive vice-president, US onshore exploration and production. Darrell E. Hollek, formerly executive vice-president, operations, will serve as a senior adviser until his retirement later this year.

Exploration and production firms that acquired Permian basin acreage in the land grab of 2016 are now faced with maintaining premium valuations while meeting high-growth expectations in a rising cost environment, according to research by IHS Markit.

Dow Chemical Co., Midland, Mich., will spend about $4 billion over the next 5 years to expand its US petrochemicals manufacturing business as part the company’s next phase of comprehensive investments in projects designed to take advantage of low-cost US shale gas feedstock.

Prospects for the reunification of Cyprus, which improved last month with the resumption of negotiations between Greek and Turkish Cypriot leaders after a 54-day break, have dimmed again.


Fun Fact: the Tree of Life at Disney World's Animal Kingdom is partially composed of a decommissioned offshore oil rig.

"The US is the Saudi Arabia of Natural Gas production." - Jim Crews, VP Business Development - MarkWest Energy Partners

Great to hear from E&P and midstream senior executives on their development plans for West Virginia. Respect the... https://t.co/KiTPhZVi95