WorldOil API urges House, Senate action on U.S. crude exports The American Petroleum Institute (API) applauded legislative efforts now underway to lift outdated trade restrictions on U.S. oil during a conference call with reporters on Wednesday. Halliburton introduces new refracturing service Halliburton announced today the launch of ACTIVATE Refracturing Service, a collaborative workflow that leverages subsurface insight, expertise and breakthrough diversion technology to recover bypassed reserves from unconventional wells more predictably and repeatedly. Hess has Q2 loss as Bakken helps lift oil output Hess Corp., which sold off fueling stations and refineries to focus on production, reported its second consecutive quarterly loss as higher oil output failed to compensate for lower prices. Sparrows Group breaks into Malaysian market through Eftech partnership Sparrows Group has expanded into the Malaysian market after forming a strategic partnership with a local service provider in the region, Efficient Technology Sdn Bhd (Eftech), as part of the company’s plans to treble business in Asia Pacific over the next five years. Oil industry starts fresh round of cost cuts as oil slump persists BP Plc and Chevron Corp. fired the opening salvo for a further round of cost cuts by major oil companies grappling with the prolonged collapse in crude prices. Total sells minority interests in West of Shetland fields Total is to sell 20% of its interests in Laggan, Tormore, Edradour and Glenlivet fields, in the West of Shetland area, to SSE EandP UK Limited for around $876 million (£565 million). Total profit beats estimates as production, refining advance Total SA’s second-quarter profit almost matched year-earlier results as higher margins at Europe’s biggest refining business helped the company shrug off a 50% slump in crude prices. How pipelines saved America’s biggest oil basin from bust To understand why U.S. oil production is so resilient, it helps to consider the maze of pipelines running out of Midland, Texas. OFS Portal elects Bhushan Ivaturi of GE Oil and Gas to board OFS Portal, eCommerce thought leaders and standards advocates in the upstream oil and gas industry, has announced that Bhushan Ivaturi, CIO of GE Oil and Gas Downstream and Technology Solutions has been elected to its Board of Directors replacing Jorge Frausto also from GE Oil and Gas. Lonestar announces Joint Development Agreement with IOG Capital Lonestar Resources, Ltd. has announced the closing of a $100 million Joint Development Agreement (JDA) with IOG Capital. WellAware launches Chemical Management Solutions to reduce oilfield operating costs and optimize production WellAware has launched the WellAware Chemical Management and WellAware Chemical Optimization products. Designed for EandP and chemical service companies, the new products reduce operating costs, minimize pump and well downtime, and optimize production.