WorldOil Statoil marks 100 MMbbl production from Brazil's Peregrino field After just four years in production, the Peregrino field in the Campos basin offshore Brazil has passed a significant milestone, with 100 million barrels of oil produced since April 2011. Nigeria to lose billions without oil sales reforms, report says Nigeria must urgently reform the way it sells oil to prevent Africa’s biggest crude producer losing billions of dollars of revenue, according to a new report. Oil’s drop below $50 may be just the start as demand swoons Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon. WTI near 4-month low after Brent falls below $50 on Iran Oil in New York held near a four-month low after Brent crude slumped below $50/bbl for the first time since January on Monday as Iran pledged almost an immediate output increase after sanctions. Shell's Polar Pioneer starts Arctic drilling operations Shell's Polar Pioneer rig has started drilling operations in the Chukchi Sea, offshore Alaska. Kurdish oil producers DNO, Genel gain on export pledge DNO ASA and Genel Energy Plc shares surged after the regional government of Iraq’s northern Kurdish region said it would start paying them for oil exports next month. ONEOK Partners to further expand Permian basin capacity to serve markets in Mexico ONEOK Partners, L.P. has announced plans to invest $70 million to $100 million to expand its ONEOK WesTex Transmission (ONEOK WesTex) intrastate natural gas pipeline system by increasing its throughput capacity by 260 MMcfd of natural gas by the first quarter of 2017. Halliburton certifies substantial compliance with DOJ second request Halliburton announced Sunday that it has certified substantial compliance with the U.S. Department of Justice’s (DOJ) request for additional information (second request). BASF, Gazprom sign memorandum to expand Nord Stream pipeline BASF subsidiary Wintershall is to participate in expanding the capacities of the Nord Stream pipeline, which delivers Russian natural gas to European customers via the Baltic Sea. Ceona joins forces with Interoil Angola Ceona has expanded its West African reach after entering into a strategic partnership with Interoil Angola Lda. U.S. oil seen trading above global prices next year in BofA view CHARLOTTE, North Carolina (Bloomberg) -- U.S. crude may temporarily rise above the global benchmark Brent next year as Middle East output expands while the nation’s supply boom fades, according to Bank of America Corp.