Firm thinks blockchain tech could cut costs, improve transparency and data quality in maintaining crude oil purity standards.

The redundancy in pipeline monitoring and data collection equipment that oil producers and midstream operators use to maintain crude oil purity standards can yield extra costs, poor transparency and inconsistent data quality.

Futures in New York advanced 2.2%, the most in three weeks.

(Bloomberg) -- Oil took a breather from its week-long rout as the dollar’s rally faltered and concerns over higher OPEC oil rig flanges gulf coast production eased.

DALLAS, May 30 (Reuters) - Exxon Mobil Corp's chief executive said on Wednesday he hopes the new attorney general in New York "comes to a different conclusion" than predecessor Eric Schneiderman on a climate change probe into the world's largest publicly traded oil producer.

MOSCOW, May 29 (Reuters) - Russia's Gazprom Neft, the oil arm of gas giant Gazprom, said on Tuesday its first-quarter net income rose by 12.5 percent year-on-year to 69.7 billion roubles ($1.1 billion) thanks to stronger oil prices, oil rig flanges gulf coast production and sales.

BEIRUT, May 29 (Reuters) - Lebanon's search for its first oil and gas reserves began on Tuesday after authorities approved an exploration plan submitted by a consortium of France's Total , Italy's Eni and Russia's Novatek.

'It's far from unlikely that we will see $100 again,' Petroleum and Energy Minister Terje Soviknes says.

(Bloomberg) -- Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back.

(Bloomberg) -- Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss OPEC matters, about a week after the Saudis and Russia announced a new policy to revive oil production.