Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.
Reuters reported that a Greek-owned oil tanker was hijacked by Somali pirates while in the Arabian Sea, and is now heading to Somalia. It has nearly a million barrels of oil on board and had been heading to Turkey.
Platts reported that the Organization of the Petroleum Exporting Countries (OPEC) increased its production of crude oil by 320,000 barrels per day in April, bringing the monthly total to 31.71 million barrels per day.
Reuters reported that the National Oil Corporation of Kenya and Japan Oil, Gas and Metals National Corporation have signed an agreement to evaluate Kenya's onshore petroleum reserves.
Statoil (NYSE:STO) announced its results for the first quarter of 2012.
Reuters reported that Sudan’s oil transportation dispute with South Sudan has resulted in a loss of $2.4 billion and a significant drop in exports for Sudan.
Bonavista Energy Corporation (TSX:BNP) reported its 2012 first quarter financial and operating results.
Bloomberg reported that oil dropped 56 cents on concern over worse-than-forecast employment data.
Trilogy Energy Corp. (TSX:TET) reported 2012 first quarter financial and operating results.
CBS News reported that Murphy Oil Corp. (NYSE:MUR) 2012 first quarter net income surged 7.9 percent.
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