Lead stories: Majors outperform expectations in the Q2 reporting season; large US producers stick with tight oil plans for now. Macro: Brent jumps 9%; oil and gas stocks buoyed by strong Q2 results. Companies: PTTEP hedges Malaysian LNG purchases with the acquisition of a stake in MLNG Train 9; PETRONAS cancels Pacific NorthWest LNG project – where does this leave the LNG portfolio? M&A: QEP sells tight gas and buys Permian tight oil. Exploration: Guyana resources close in on the 3 billion boe mark with ExxonMobil’s latest appraisal success.