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. Kenya drops budget cap to reach oil-cash deal, lawmakers say Kenya agreed to drop budget-allocation limits for oil-rich counties in order to break a deadlock in passing a revenue-sharing law that’s delayed production. Crude rises as Venezuela sanctions stoke crude supply risk concern Crude extended its three-year high as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles. SDX Energy confirms significant discovery in South Disouq, Egypt SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well, following the recent conventional natural gas discovery at South Disouq, Egypt 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. Crude rides best weekly winning streak since 2011 Crude is set for the longest run of weekly gains in seven years as concern over supply disruptions grows and a global glut dissipates. Crude rises to $80/bbl for first time since 2014 Oil rose to $80/bbl for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of sanctions on Iran. More pain may come for Nigeria's loss-making oil behemoth It’s meant to be a cash cow, but the state oil company of Africa’s biggest producer is bleeding money. Russia's OPEC deal dilemma worsens as idled crude capacity grows Russia will face a tough choice in talks with OPEC next month as an increasing number of its valuable oil wells lie idle. BW Offshore contracts PG Flow Solutions for Polvo FPSO extension project BW Offshore has contracted liquid handling and pump specialist PG Flow Solutions to supply water booster pumps to the FPSO operator’s life extension project for the Polvo FPSO.