1. Oil falls from three-month low as supplies at US hub swell.
Mationwide stockpiles of crude slid by 827,00 bbl as oil fell from the lowest close in three months amid increases in petroleum inventories and faltering demand. [WorldOil]
2. Britain offers new oil and gas licenses amid exploration drought.
Companies will be able to apply for cheaper, more flexible licenses (with a 90 percent fee cut) in Britain as the country attempts to attract new companies in the hunt for more oil and gas fields.[Reuters]
3. Hess reports losses in second quarter.
Hess reported a net loss of $392 million in the second quarter of 2016 and revenues dropped to $1.269 billion, down from $1.935 billion last year. [Offshore Energy Today]
4. FERC grants extension for Constitution’s pipeline.
A contested $683 million natural gas pipeline from Pennsylvania to New York has been granted a 2-year extension by the Federal Energy Regulatory Commission as the company continues to appeal a decision made by New York officials. [Law360]
5. Nigeria missing 700,000 bpd of oil output from militant attacks.
Nigeria continues to feel the pressure from the militant group Niger Delta Avengers as the nation’s oil production drops significantly. [Reuters]
6. Statoil slashes spending with unexpected losses.
Norway’s biggest oil producer had anunexpected loss in the second quarter which had been heavily affected by weak oil and gas markets. [Bloomberg]
7. U.S. Regulators Form Group to Probe Subsea Oil-Well Bolt Failures.
Federal officials are looking into why metal bolts used to connect subsea oil equipment keep breaking, signaling that such issues may be growing. [Wall Street Journal]
8. Shell withdraws from Ukrainian shale gas exploration.
As Royal Dutch Shell PLC pulls out of Ukrainian separatist violence, Yuzgas B.B., a company set up by Emerstone Energy, moves in on a contract for shale gas exploration in areas bordering territories seized by pro-Russian separatists. [Reuters]
9. South Africa oil workers’ strike could hit refineries.
A union representing South African energy workers say around 23,000 employees are expected to strike indefinitely from Thursday over pay disputes. [Reuters]
10. Anadarko posts second quarter loss.
Anadarko Petroleum Corporation reported of a loss of $692 million in the second quarter opposed to a profit of $61 million during the same time period last year. [Offshore Energy Today]
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