WorldOil Lukoil profit drops 39% after impairments, oil-price slump OAO Lukoil said profit fell 39% last year as crude prices slumped and Russia’s second-largest oil producer reported asset impairments from Kazakhstan to West Africa. U.S. Gulf to receive flood of oil from Midwest as glut spreads The flood of oil inundating the U.S. Midwest is about to cascade down to the Gulf Coast. Obama says Keystone decision may be announced in weeks or months President Barack Obama said a decision on whether to approve the Keystone XL pipeline is possible in weeks or months. U.S. to offer all available acreage in Western GoM in August lease sale BOEM Director Abigail Ross Hopper has announced that the bureau will offer more than 21 million acres offshore Texas for exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. WPX Energy cuts workforce, trims Denver office WPX Energy is trimming its company-wide workforce by approximately 8% and consolidating most of its regional office staff in Denver, Colorado, together with personnel at the company’s headquarters in Tulsa, Oklahoma. Bearish oil wagers surge to record as glut keeps growing Hedge funds raised bearish wagers on oil to an all-time high, speculating crude has further to fall as the supply glut keeps swelling. McDermott bags EPCI project offshore Qatar McDermott International has been awarded a large project for a new jacket, temporary deck and replacement umbilical by Qatar Petroleum for the North Field Alpha gas development, offshore Qatar. Technip awarded flexible pipe contract for Lula Alto field in Brazil Technip was awarded a subsea contract from Tupi BV for the ongoing development of the Lula Alto field, in the Santos basin pre-salt area, Brazil. Parsons acquires T.J. Cross Engineers Engineering firm Parsons has acquired T.J. Cross Engineers, Inc., a privately held oil and gas industry professional services firm specializing in engineering, design, and consulting services. BP joins Occidental in Mexican hesitation after crude plunge Mexico’s hopes of replicating the U.S. offshore oil boom rest on authorities sweetening contract terms after prices collapsed, according to prospective drillers, as preliminary terms being offered by Mexico “need to be a little more competitive,” according to the CEO of BP. Brent oil retreats from 2015 high; premium over WTI narrows Crude fell from its highest close this year in London on concern a global surplus will linger. U.S. oil futures narrowed their discount to Brent after an industry survey was said to report a slowdown in stockpile gains.