REUTERS - Eni has no material exposure to Iran and so will not be affected by sanctions announced by the U.S. administration, a spokesman for the Italian oil major said

PLATTS - "Japanese companies don't want to stop imports suddenly," he said, adding the US position needed clarifying. "The situation in the US government is drastically changing every day."

API - “The implementation of new tariffs will disrupt the U.S. oil and natural gas industry’s complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security. Additionally, Canada, Mexico and the European Union are imperative members of our Defense Industrial Base (DIB) and are top military allies – far from a threat to America’s security.

API - A diverse group of energy industry associations including energy efficiency and storage, natural gas, oil, solar and wind issued the following statement condemning the Administration’s draft plan to bail out coal and nuclear plants across the country.

PLATTS - Japan is keen to back oil investments in the Caspian states of Azerbaijan and Kazakhstan as it tries to reduce its reliance on Middle Eastern countries, particularly Saudi Arabia, the UAE and to a lesser extent Iran, Japanese officials said

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,060, with oil rigs up 2 to 861 and gas rigs down 1 to 197. Canada Rig Count is up 18 rigs from last week to 99 rigs, with oil rigs up 21 to 56 and gas rigs down 3 to 43.

EIA - U.S. oil production up to 10.474 MBD, gas production up to 98,323 MCFD

BEA - Real gross domestic product (GDP) increased at an annual rate of 2.2 percent in the first quarter of 2018, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2017, real GDP increased 2.9 percent.

REUTERS - Environmentalists derided the “tar sands” as too dirty for investment, and analysts said the region’s high production costs made little sense in a world of $50-a-barrel oil.

REUTERS - Malaysia’s state-owned oil and gas company Petroliam Nasional Bhd [PETR.UL] said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.

PLATTS - China's state-run oil trader Unipec has purchased around 16 million barrels of US crude oil for loading in June, marking the biggest volume ever to be lifted in a month by the company, informed sources said

BAKER HUGHES A GE - U.S. Rig Count is up 13 rigs from last week to 1,059, with oil rigs up 15 to 859, gas rigs down 2 to 198, and miscellaneous rigs unchanged at 2. Canada Rig Count is down 2 rigs from last week to 81, with oil rigs down 3 to 35 and gas rigs up 1 to 46.

EIA - The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. The United States has been the world's top producer of natural gas since 2009, when U.S. natural gas production surpassed that of Russia, and the world's top producer of petroleum hydrocarbons since 2013, when U.S. production exceeded Saudi Arabia’s. Since 2008, U.S. petroleum and natural gas production has increased by nearly 60%.

PLATTS - China became the largest contributor to global LNG consumption growth in 2017. It surpassed South Korea as the world's second largest LNG importer and its share of global LNG demand is expected to converge with that of Japan by 2030.

WNN - "We met today to confirm the continuing commitment of the European Commission and the Atomic Energy Organisation of Iran towards the implementation of the Joint Comprehensive Plan of Action, and in particular its Annex III which addresses civil nuclear cooperation," Cañete and Ali Akhbar Salehi, president of the AEOI, said in a joint statement on 19 May. "We believe that the continuing implementation of the JCPOA, which was unanimously endorsed by UN Security Council Resolution 2231, is crucial for the development and progress of the region as well as the global peace and security."