Three misconceptions make US officials reluctant to allow the export of crude oil.

The US Bureau of Ocean Energy Management has awarded the first three oil and gas leases in the Gulf of Mexico area subject to the US-Mexico Transboundary Hydrocarbons Agreement to Exxon Mobil Corp., which bid for the blocks during Western Planning Area Sale 233 in August 2013.

A special hydrogel substance has been developed that can be equipped to detect bacteria, carry cargo and deliver medicine. A researcher used a worm's contracting and expanding motion to provide a way for gels to swim in water. He explains, "Using a hand-held laser, we were able to selectively and quickly shrink the hydrogel (a hydrophilic polymer gel comprised mostly of water) in desired areas. By inducing a shrinking/swelling cycle down the length of a hydrogel, we were able to successfully mimic peristaltic, or earthworm-inspired, locomotion in water."

The US drilling rig count gained 9 units to reach 1,866 rigs working during the week ended May 30, Baker Hughes Inc. reported.

The New York Mercantile Exchange July crude oil contract price gained 86¢, closing at $103.58/bbl on May 29. The August contract rose 79¢ to $102.78/bbl.

OMV AG reported it will invest €500 million in Tunisia’s Nawara gas field development joint project with Tunisia’s state-owned ETAP.

Shareholders of Energy XXI (Bermuda) Ltd. and EPL Oil & Gas Inc. have approved the merger to which the companies agreed in March.

National Oil Corp. of Libya has signed an agreement with ION Geophysical Corp., Houston, in conjunction with North Africa Geophysical Exploration Co. for a regional seismic survey in Libya.

Total SA has reported it will suspend engineering and design work on the $11 billion (Can.) Joslyn Creek steam-assisted gravity drainage (SAGD) oil sands project, 60 km north of Fort McMurray in Alberta. The company said it will lay off 150 of the project’s staff.