WorldOil Devon Energy appoints new president, CEO Devon Energy’s board of directors has elected Dave Hager, most recently Devon’s COO, as the company’s new president and CEO. Gazprom Neft’s exports of ESPO crude reach 10 million tonnes Following the supply of a further 100,000 tonnes of East Siberian Pacific Ocean (ESPO) crude to the Chinese market in July, total volumes of ESPO crude exports by Gazprom Neft since the commencement of supplies have now reached 10 million tonnes. Team Oil Tools buys Odessa Packer Services Team Oil Tools has acquired all the outstanding shares of Odessa Packer Services (OPS). BP awards Clair Ridge contract to Cape BP has awarded Cape plc a new contract for the Clair Ridge project, with further future phases added over the next 18 months. 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.