http://www.worldoil.com WorldOil Saudis take aim at swollen U.S. oil stockpiles in strategy shift http://www.worldoil.com/news/2017/5/26/saudis-take-aim-at-swollen-us-oil-stockpiles-in-strategy-shift After sparing its prized U.S. market from oil-output cuts, Saudi Arabia plans to "markedly" reduce exports to its political ally in the coming weeks in an effort to reduce swollen and highly visible crude inventories in the world’s biggest consumer. OPEC insiders reel as key minister is fired during meeting http://www.worldoil.com/news/2017/5/26/opec-insiders-reel-as-key-minister-is-fired-during-meeting As OPEC ministers gathered in Vienna yesterday to agree a nine-month extension of their oil-supply pact, the man credited with bringing about the landmark deal learned from a news broadcast that he had been fired. Interoil issues drilling update on Vikingo-1 exploration well in Colombia http://www.worldoil.com/news/2017/5/26/interoil-issues-drilling-update-on-vikingo-1-exploration-well-in-colombia Interoil Colombia EandP and SLS (strategic partner) finished the drilling of the exploratory well Vikingo-1 on May 9th, down to a final depth of 5,936 ft in the Paleozoic basement. UKOG commences drilling of BB-1 well in Weald basin, UK http://www.worldoil.com/news/2017/5/26/ukog-commences-drilling-of-bb-1-well-in-weald-basin-uk UK Oil and Gas Investments PLC has announced that the drilling rig and key equipment necessary to drill the Broadford Bridge-1 (BB-1) Kimmeridge Limestone well are now on site. All regulatory permissions are now in place and drilling is expected, therefore, to commence shortly. Kinder Morgan commits to pipe linking Canadian crude to Asian markets http://www.worldoil.com/news/2017/5/26/kinder-morgan-commits-to-pipe-linking-canadian-crude-to-asian-markets Kinder Morgan Inc. has committed to expanding a pipeline that will allow Canadian crude to be exported to Asia, a controversial C$7.4 billion ($5.5 billion) project that’s set to face revitalized opposition amid political upheaval in the nation’s Pacific Coast province. TGS and PGS announce fourth 3D seismic project offshore eastern Canada http://www.worldoil.com/news/2017/5/26/tgs-and-pgs-announce-fourth-3d-seismic-project-offshore-eastern-canada TGS and Petroleum Geo-Services (PGS) announce the fourth 3D seismic project offshore Eastern Canada for 2017. Long Range 3D will comprise approximately 9,100 km2 of 3D GeoStreamer data in the Eastern Newfoundland region. GE Oil and Gas and Alpha Petroleum to partner on North Sea’s Cheviot oil field http://www.worldoil.com/news/2017/5/26/ge-oil-gas-and-alpha-petroleum-to-partner-on-north-sea-s-cheviot-oil-field Alpha Petroleum, which is backed by upstream oil and gas investment firm Petroleum Equity, today announces an agreement with GE Oil and Gas to partner on the advancement of the subsea infrastructure for the Cheviot oil field, one of the largest undeveloped fields in the UK North Sea with 55 MMbbl of oil and 20 MMboe of future gas production. OPEC leaves market guessing on exit strategy after oil pact http://www.worldoil.com/news/2017/5/26/opec-leaves-market-guessing-on-exit-strategy-after-oil-pact OPEC may be celebrating an historic deal to extend supply cuts, but after the party, the organization will face a trio of questions it left unanswered. Goldman warns OPEC faces test as spectre of U.S. shale looms http://www.worldoil.com/news/2017/5/26/goldman-warns-opec-faces-test-as-spectre-of-us-shale-looms As the oil market responds skeptically to OPEC’s output-cut deal, Goldman Sachs Group Inc. says the group has some challenges to tackle. Shell announces start of deepwater production at newest FPSO in Santos basin http://www.worldoil.com/news/2017/5/26/shell-announces-start-of-deepwater-production-at-newest-fpso-in-santos-basin Royal Dutch Shell plc, through its subsidiary BG EandP Brasil Ltda. (Shell) and consortium partners in Lula South, announce today that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos basin. Russia's Novak sees room to do more for oil after OPEC flop http://www.worldoil.com/news/2017/5/26/russias-novak-sees-room-to-do-more-for-oil-after-opec-flop After top oil exporters failed to impress markets with their extended supply cuts, Russia’s Alexander Novak said there’s more they can do.