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• OPEC Chief Says Oil Market Responding Well to Record OPEC+ Cut
  OPEC is encouraged by a rally in oil prices and strong adherence to its...

  OPEC is encouraged by a rally in oil prices and strong adherence to its latest output cut, its secretary-general said, although sources say the group has not ruled out further steps to support the market.

  
  

  OPEC, Russia and other allies, a group known as OPEC+, are cutting supply by a record 9.7 million barrels per day (MMbbl/d) from May 1 to offset a slump in prices and demand caused by the coronavirus outbreak.

  
  “The oil markets have responded positively to the historic agreement, as well as its robust implementation by participating countries,” Mohammad Barkindo, OPEC’s secretary-general, told Reuters.
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• Emerson Investing $100 Million to Create New Innovation Center in Colorado
  Emerson, a global engineering and technology company, said May 20 it will invest more than $100 million...
  Emerson, a global engineering and technology company, said May 20 it will invest more than $100 million in Boulder to significantly expand its manufacturing space and launch a new innovation center focused on research, new product development and industry training for its advanced flow measurement products.
  
  Emerson is recognized globally for its advanced flow measurement technologies and diagnostics that help leading global customers in the life sciences, food and beverage, chemical, power and energy industries. The new innovation center will drive innovation and new product development to enable customers in these critical industries to realize performance improvements in production, reliability, safety and sustainability.
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• Will Debt-Laden MLPs be the Next Oil, Gas Takeover Targets?
  Despite the relative health of MLPs...
  
  

  
  
  Despite the relative health of MLPs during this market-crushing downcycle, several notable partnerships in distress could be primed for private-equity takeovers in the near future, an oil and gas investing executive believes.
  
  Some groups that remain confident in the long-term fortunes of the oil and gas space may be painting targets on certain MLPs.
  
  “I think you’re going to see a lot of these publicly traded partnerships be taken private by private equity funds,” Michael Underhill, founder and chief investment officer of Wisconsin-based Capital Innovations LLC, told HartEnergy.com. “They look at a publicly traded MLP. It’s got asset valuation, full transparency, audit and financials—all the things that you want. You have to go out and spend money on it, but the company’s already publicly traded so they already spent all the money on corporate governance and everything else.”
  
  Source:  Hart Energy Subscription Required
  
  

  
  
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• Buyers cancel more US LNG cargoes
  Buyers in Asia and Europe have reportedly scrapped...
  Buyers in Asia and Europe have reportedly scrapped as many as 45 US liquefied natural gas cargoes for July loading, a twofold increase over June cancellations, as the coronavirus crisis continues to erode demand. Market sources say that Cheniere received more than 24 requests from customers to cancel cargoes for loading in July.

  
  

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• FERC OKs proposed Alaska LNG project
  Alaska Gasline Development Corp's proposed $43.4 billion Alaska liquefied natural gas export...
  Alaska Gasline Development Corp's proposed $43.4 billion Alaska liquefied natural gas export facility has received approval from the Federal Energy Regulatory Commission. The next step for the project would be to secure other state and federal permits as well as find new partners or customers, which could prove challenging as buyers remain reluctant to sign long-term supply deals.
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