http://www.worldoil.com WorldOil Texas cities wouldn’t be able to ban oil drilling under bill http://www.worldoil.com/news/2015/5/05/texas-cities-wouldn-t-be-able-to-ban-oil-drilling-under-bill Texas cities would no longer be able to ban oil and gas companies from drilling inside municipal limits under a bill lawmakers sent to Governor Greg Abbott. EIA: Crude by rail supplies 52% of East Coast refinery supply http://www.worldoil.com/news/2015/5/05/eia-crude-by-rail-supplies-52-of-east-coast-refinery-supply WASHINGTON, D.C. -- Monthly rail receipts of crude oil accounted for more than half (52%) of the crude oil supply to East Coast refineries in February. EOG will resume major oil growth at ‘stable’ $65 oil price http://www.worldoil.com/news/2015/5/05/eog-will-resume-major-oil-growth-at-stable-65-oil-price EOG Resources, the biggest shale-oil producer, will resume major growth in output once crude prices are stable at $65/bbl. Gauthiers’, Modex merger creates world’s third-largest offshore container fleet http://www.worldoil.com/news/2015/5/05/gauthiers-modex-merger-creates-world-s-third-largest-offshore-container-fleet LAFAYETTE, La. -- Gauthiers’ has acquired an equity share of Modex, an international manufacturer of DNV-certified offshore equipment. Russia keys on condensates after sanctions hit Arctic oil http://www.worldoil.com/news/2015/5/05/russia-keys-on-condensates-after-sanctions-hit-arctic-oil With Siberia’s aging oil fields slowly running dry, Russia is turning to a natural gas by-product to help maintain crude production and meet President Vladimir Putin’s target of 10 MMbopd. U.S. oil rises above $60 for first time this year as glut fades http://www.worldoil.com/news/2015/5/05/us-oil-rises-above-60-for-first-time-this-year-as-glut-fades Oil rose above $60/bbl in New York for the first time since December, extending the biggest monthly advance since May 2009 on signs the U.S. supply glut is easing. GE Oil and Gas releases remote collaboration software to improve asset reliability inspections http://www.worldoil.com/news/2015/5/05/ge-oil-gas-releases-remote-collaboration-software-to-improve-asset-reliability-inspections BILLERICA, Massachucetts -- GE Oil and Gas has announced the release of its InspectionWorks Connect software, a remote collaboration platform for the nondestructive testing (NDT) and inspection industry. Ocean Marine Systems launched as new offshore company http://www.worldoil.com/news/2015/5/05/ocean-marine-systems-launched-as-new-offshore-company UNITED KINGDOM -- A new innovative precision engineering company for the marine industry has launched as Ocean Marine Systems Limited. Ceona awarded deepwater Gulf of Mexico contract with Bennu Oil and Gas http://www.worldoil.com/news/2015/5/05/ceona-awarded-deepwater-gulf-of-mexico-contract-with-bennu-oil-gas LONDON -- Ceona, a SURF contractor with heavy subsea construction capabilities, has been awarded a new deepwater contract with Houston-based Bennu Oil and Gas LLC in the Gulf of Mexico on their Mirage field. OPEC says speculation played important role in oil’s decline http://www.worldoil.com/news/2015/5/05/opec-says-speculation-played-important-role-in-oil-s-decline Oil supply and demand don’t fully justify the 60% drop in prices between June and January as speculation also played a role, according to OPEC. Canadian crude price strengthens as Enbridge fills new pipeline http://www.worldoil.com/news/2015/5/05/canadian-crude-price-strengthens-as-enbridge-fills-new-pipeline Heavy Western Canadian Select crude’s discount to West Texas Intermediate shrank to the least since 2012 as a new pipeline started and production sites were shut for maintenance.