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The light, sweet crude oil price for September dropped more than $1.50/bbl on the New York market Aug. 1 to settle at $40.06/bbl after having dipped to a trading day low of less than $40/bbl for the first time since April.

Imperial Oil Ltd., Calgary, said the northern Alberta wildfires and planned maintenance contributed to a $181-million (Can.) loss in the second quarter. A year earlier, the company earned $120 million.

Ithaca Energy Inc. has expanded its core position in the Greater Stella area of the central North Sea with four acquisitions, taking additional interest in the Vorlich discovery and operated interest in the Austen discovery.

Texas joined several other producing US states in a lawsuit challenging the US Environmental Protection Agency’s final rule limiting methane emissions from new oil and gas wells and storage tanks, and from wells producing fewer than 15 b/d of oil.

KBR Inc. subsidiary Commisa has won a judgement of more than $465 million in a US court in a long legal dispute with Pemex Exploration & Production (PEP) over two platforms offshore Mexico.


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