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US President Barack Obama has withdrawn 40,300 sq miles of the Outer Continental Shelf off western Alaska from oil and gas leasing.

Murphy Oil Corp. and partners are considering the drilling of an appraisal well of their Cholula discovery in deep water offshore Mexico as well as two exploration wells on the same Salina basin block next year.

President Donald J. Trump said he plans to impose import tariffs of 25% on steel and 10% on aluminum imports next week. 

President Donald J. Trump issued an updated presidential permit for the proposed Keystone XL crude oil pipeline on Mar. 29. The move was seen as an attempt to jump-start the projects construction after a federal judge in Montana blocked it in November and ordered further environmental reviews.

Oil prices rose by more than $1/bbl on both New York and London markets on Apr. 9, and analysts attributed the rally to fears about trade wars and to favorable crude market fundamentals.

New York Atty. Gen. Eric T. Schneiderman (D) and five other states
attorneys general asked the federal government to require crude oil
being shipped by rail to have a less than 9 psi volatility limit.

BP PLC and China National Petroleum Corp. (CNPC) have signed a second production-sharing contract (PSC) for shale gas exploration, development, and production covering a 1,000-sq km area at Rong Chang Bei in the Sichuan basin.

Light, sweet crude oil for May delivery on the New York market rose
55 to settle at $51.70/bbl on Apr. 6. Oil prices traded sharply higher
in New York and London overnight after reports the US launched a missile
attack on Syria.

US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, increased 600,000 bbl for the week ended Dec. 23 compared with the previous week, the US Energy Information Administration reported.

Recovery seems to be gathering momentum in global oil and gas markets, driven more by improved production practices and technology than by gradually rising prices, speakers said during a Feb. 16 discussion at the Center for Strategic and International Studies.