Oil bounces after big losses but glut persists. Oil prices recovered more than $1 a barrel from sharp losses on Wednesday as the dollar eased but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment. [Oilpro]
ONGC To Promote Discovered Small Fields. Road shows in Houston and Calgary will be held as part of process of promoting the Discovered Small Fields Bid Round 2016. [Oilpro]
Devon Energy Sells Pipeline Stake. Devon Energy Corp. said Thursday that it will sell its 50% ownership stake in Access Pipeline to Wolf Midstream Inc. for C$1.4 billion (US$1.1 billion). [WSJ]石油圈原创www.oilsns.com
Surprise U.S. gasoline stock build crimps refiner margins. U.S. gasoline and distillate stocks surged unexpectedly last week, data showed on Wednesday, crimping margins for refiners at the height of summer driving season, a time when they generally enjoy healthy demand and profits. [Reuters]
PDVSA financial report acknowledges US bribery allegations. Venezuela’s state oil firm Petroleos de Venezuela SA (PDVSA) has confirmed in an internal probe that there was fraud in the company’s procurement processes, according to Reuters. [Splash247, Reuters]
Marathon Sees First Gas From Alba. Marathon Oil Corp. has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea. [Oilpro]
Keppel AmFELS Delivers Fifth Jackup To Perforadora Central. Uxpanapa is the the fifth jackup rig built by Keppel AmFELS for Perforadora Central and the second based on Keppel’s proprietary KFELS B Class design. [Oilpro]
C&J Energy Services To File Chapter 11. The company said the move will allow it to substantially deleverage its balance sheet – eliminating approximately $1.4 billion of existing debt. C&J said it expects to continue operations throughout the restructuring process. [Oilpro]
IGas faces takeover threat. UK shale driller IGas Energy has been reported to be facing a potential hostile takeover as it struggles to overcome the various obstacles facing the country’s unconventional industry. [Newsbase]
IOG To Drill Skipper With Transocean Semi. Independent Oil and Gas plc (IOG) plans to drill an appraisal well on the Skipper oil discovery, which lies in Block 9/21a in license P1609 in the Northern North Sea starting on July 22. [Oilpro]