Lead stories: Total signs first ever Iranian Petroleum Contract. Macro: Brent recoups some of its recent loses; a grim first half of the year for oil and gas shares; European Majors commit to make power clean. Companies: BP guides for US$750 million Angolan exploration write-down; presidential corruption charges priced into Petrobras shares; Tullow warns of impairment but makes deleveraging progress; Santos strikes a partnership deal with strategic shareholders. M&A: ConocoPhillips continues high-grading progress with Barnett gas sale. Exploration: Statoil makes play-opening Barents Sea oil discovery; Santos drills successful appraisals – what does it mean for Darwin LNG backfill?