WorldOil EIA: U.S. remains the world’s top producer of petroleum and natural gas hydrocarbons The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. ASHCOR announces high pressure low pressure flare ASHCOR LLC announced the public launch of its High Pressure Low Pressure (HPLP) flare system for primary use in upstream oil and gas applications. China trade truce may help give U.S. LNG a $30-billion boost China’s appetite for U.S. liquefied natural gas may be about to get a lot bigger after the two nations agreed to pull back from the brink of a trade war. API: Rule to grant relief from tariffs, quotas on steel must be improved The American Petroleum Institute (API) has joined other trade associations in comments to the Department of Commerce on Section 232’s Interim Final Rule (IFR) to raise concerns over the ability of natural gas and oil companies to receive relief from steel tariffs and quotas. API: U.S. petroleum demand sustains its highest level in 11 years The American Petroleum Institute (API) reported that the first four months of this year saw U.S. petroleum demand average 750,000 bpd above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 MMbpd of oil. For sale: Stalled pipeline project, angry protesters included Justin Trudeau’s pipeline nightmare may be only getting started. BP, Conoco said to be in talks for asset swap deal BP Plc and ConocoPhillips are in discussions for an asset swap deal that would see the UK energy major gain a greater foothold in a key project in the North Sea and the U.S. explorer gain Alaskan assets, according to people familiar with the talks. U.S. threatens sanctions if Nord Stream 2 project proceeds The U.S. stepped up its opposition to the Nord Stream 2 natural gas pipeline linking Russia and Germany, saying the project raises security concerns and that it could draw U.S. sanctions. U.S. oil gets cheaper versus Mideast crude after Iran sanctions The oil price spread that will determine the type of crude bought by Asia in the wake of U.S. sanctions on Iran is currently in favor of American supply. Canada willing to cover any Kinder losses on pipeline expansion Justin Trudeau’s government is prepared to take the extraordinary step of reimbursing Kinder Morgan Canada Ltd. for any financial losses if it proceeds with the expansion of an oil pipeline to the Pacific.