All publications by tag «OIL»
FT - “In my opinion, the stability of Russian production was underestimated by the market,” said Igor Sechin, chief executive of Rosneft, the country’s top oil producer. “In general, the Russian oil sector investments in rouble equivalent under the crisis conditions were increasing, and so did the production.”
BLOOMBERG - Billionaire David Koch is stepping down from leadership positions in his family’s business and conservative political empire because of deteriorating health, his older brother told company employees in a letter Tuesday.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures fell 10 cents, or 0.2 percent, $65.71 a barrel by 2353 GMT. Last week, WTI lost around 3 percent, adding to a near 5 percent decline a week before. The global benchmark Brent fell 26 cents, or 0.34 percent, to $76.53 a barrel.
BLOOMBERG - Energy ministers from Saudi Arabia, the United Arab Emirates, Kuwait, Algeria and Oman held an unofficial consultative meeting on Saturday in Kuwait City, the Kuwait News Agency reported, citing a statement from the joint ministerial monitoring committee of OPEC and non-OPEC countries. They discussed market conditions and the producers’ compliance with the global output cuts, it said.
SHANA - The country exported 2.4 mbd of crude oil and 300,000 b/d of gas condensate, ultra light crude oil, during May.
SHANA - The Iranian Minister of Petroleum further stressed that should the sanctions lead to any reduction in the oil market share of the I.R. Iran, Tehran, once the illegal limitations were resolved, reserves the right to return to its oil market share in the shortest possible time and resume its normal production-level and that it would not accept any limitations in that regard.
API - “The implementation of new tariffs will disrupt the U.S. oil and natural gas industry’s complex supply chain, compromising ongoing and future U.S. energy projects, which could weaken our national security. Additionally, Canada, Mexico and the European Union are imperative members of our Defense Industrial Base (DIB) and are top military allies – far from a threat to America’s security.
PLATTS - Japan is keen to back oil investments in the Caspian states of Azerbaijan and Kazakhstan as it tries to reduce its reliance on Middle Eastern countries, particularly Saudi Arabia, the UAE and to a lesser extent Iran, Japanese officials said
BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,060, with oil rigs up 2 to 861 and gas rigs down 1 to 197. Canada Rig Count is up 18 rigs from last week to 99 rigs, with oil rigs up 21 to 56 and gas rigs down 3 to 43.
REUTERS - U.S. West Texas Intermediate crude CLc1 lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday. Global benchmark Brent crude LCOc1, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.