WorldOil Brent slumps below $60 as Greece, China put demand at risk Brent slid below $60/bbl for the first time since April amid mounting concern about economic stability in Europe and Asia. Baker Hughes bags integrated drilling services contract for Johan Sverdrup Statoil has awarded Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. Norway baffles analysts by ceding 15 MMbbl from Johan Sverdrup No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. Quadrant Energy spuds Levitt-1 well offshore Western Australia Karoon Gas Australia has commenced the high impact Levitt-1 exploration well in WA-482-P Carnarvon basin, offshore Western Australia. Drydocks World delivers world’s largest turret mooring system Drydocks World has marked a major milestone in successfully completing the world’s largest turret mooring system at Shell's Prelude FLNG off Australia. Fjords Processing bags process systems delivery contracts for Johan Sverdrup Fjords Processing has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea. Subsea 7 installs world's first subsea wet gas compressor at Statoil's Gullfaks platform After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Statoil's Gullfaks C platform in the North Sea. 4Subsea receives research grant for corrosion in flexible pipes The Research Council of Norway has through the “Petromaks 2” program has awarded 4Subsea funding for a research initiative on corrosion in flexible pipes. BP’s spill deal is ‘catalyst’ for acquirers as uncertainty ends BP’s $18.7 billion U.S. legal settlement is being cheered by investors and analysts as it ends five years of financial uncertainty. It also makes the British oil producer a more attractive takeover target. Indian tycoon plans to invest $2.5 billion in Brazil oil and gas Videocon Industries Ltd., an Indian maker of consumer electronics with ambitions to become a major energy producer, plans to invest as much as $2.5 billion over three years in Brazilian oilfields, Chairman Venugopal Dhoot said. Millions from BP settlement to benefit Texas Gulf Research With Thursday’s announcement that BP has settled federal, state and local claims related to the 2010 Deepwater Horizon oil spill for a total of more than $18.7 billion, leaders with Texas’ RESTORE Centers of Excellence are moving forward with plans to use millions in spill-related Clean Water Act funding on research and science activities that will benefit Texas and help to restore the health of the Gulf of Mexico.