Oil Industry Price War and Deflation
The PRL 15 Joint Venture selects key infrastructure sites for the Elk-Antelope gas field development in Papua New Guinea.
Subsea 7 secures four contracts from Chevron and Inpex for the engineering, procurement and construction of an emergency pipeline repair system offshore Australia.
Permitting woes plague Canadian railroads, which may give pipelines time to catch up to crude production.
Oil prices fall as a rising US rig count stokes fears of global oversupply.
The sleepiest oil market since 2013 will probably limp through the second half of the year as well.