WorldOil Millions from BP settlement to benefit Texas Gulf Research With Thursday’s announcement that BP has settled federal, state and local claims related to the 2010 Deepwater Horizon oil spill for a total of more than $18.7 billion, leaders with Texas’ RESTORE Centers of Excellence are moving forward with plans to use millions in spill-related Clean Water Act funding on research and science activities that will benefit Texas and help to restore the health of the Gulf of Mexico. Lundin gains increased unitized interest in Johan Sverdrup Lundin Petroleum has announced that the Norwegian Ministry of Petroleum and Energy has determined the allocation of resources in the Johan Sverdrup oil field and has decided to increase the unitized interest for Lundin Petroleum from 22.12 to 22.6%. ION launches MexicoSPAN in Mexico’s offshore Gulf waters ION Geophysical Corporation has launched the first phase of MexicoSPAN, encompassing more than 22,000 km of deep-imaged 2D seismic data. Oil oversupply meets rising demand in quietest market since 2013 The sleepiest oil market since 2013 will probably limp through the second half of the year as well. Shale boom shows resilience as rigs rebound with oil under $60 For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price. Mexico unveils licensing plan to add million barrels output Mexico plans to auction 914 onshore and offshore oil areas in the next five years as the historic opening of the country’s energy industry aims to add 1 MMbbl of production by 2025. Drillers boost U.S. oil rigs for first time in 30 weeks Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending. PetroRio buys Petrobras’ stake in Bijupirá, Salema fieldsá-salema-fields PetroRio has signed an agreement to acquire 20% of the rights and obligations of the concession contracts for Bijupirá and Salema fields from Petrobras. Hess completes Bakken midstream sale, establishes joint venture Hess has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for a cash consideration of $2.675 billion, the company announced Wednesday. BP pays record $18.7 billion to settle Macondo claims BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill. Summit ESP launches Sentry Well Surveillance service Summit ESP has launched its Sentry(SM) Well Surveillance services, a real time Electrical Submersible Pump and Optimization Service.