Everyone’s wrong sometimes. Most people, though, don’t make a show of it.

Canada has added 15 rigs for the week ended May 24, according to Baker Hughes data. With 78 rigs running, the count is slightly less than the 81 units drilling this week a year ago. The number of oil-directed rigs in Canada increased by 16, bringing the count to 38 rigs for the week. Gas-directed rigs were down a single unit to 40.

Mol Norge will plug exploration well 3/7-11 S, which was targeting the Vinstra and Otta prospects in PL539 in the North Sea. Both targets were dry, reported partner Lundin Norway AS. The well was drilled by the Rowan Viking jack up rig 7 km southwest of Trym field on the eastern side of the Mangal High, 2 km north of the border with Denmark in 66 m of water.

Oil and gas associations responded favorably to US Environmental Protection Agency Administrator Andrew R. Wheeler’s May 13 memorandum stating that the agency should ensure its regulatory decisions are “rooted in sound, transparent, and consistent approaches to evaluating benefits and costs.”

Delek US Holdings Inc. will invest $150 million in a series of projects over the next 5 years to improve operations at its 74,000-b/sd refinery in Krotz Springs, La. The proposed enhancement projects at the refinery will include infrastructure improvements, plant construction and renovations, and installation of new machinery and equipment, the Louisiana Economic Development said.

While there hasn’t been a dramatic change for the energy industry in Mexico since President Andres Manuel Lopez Obrador took office in 2018, progressive collaboration between the industry and country regulators is needed to fulfill the country’s hydrocarbon ambitions.

Units of Novatek have acquired exploratory licenses for five areas on the Gydan Peninsula in Krasnoyarsk, Russia.

Light, sweet crude oil contracts for July and August plunged by more than $3.50/bbl on May 23, marking the sharpest single-session drop since Dec. 24, 2018, and the lowest settlement since Mar. 12. Brent crude oil prices also fell more than a $3/bbl on the London market with the July contract settling under $68/bbl. Analysts attributed the steep benchmark price drops on US-China trade relations as well as rising US oil supplies.

Politicization of energy and trade might matter more to US LNG exports and projects than a tariff raised by China amid a trade war.

Zarubezhneft JSC, Moscow, received a 30% participating interest in the production sharing agreement for Block 09-2/09 in the Cuu Long basin offshore Vietnam under one of several agreements signed during meetings among leaders of the Russian and Vietnamese governments.