All publications by tag «OIL»
REUTERS - U.S. West Texas Intermediate (WTI) crude futures were at $57.28 a barrel at 0757 GMT, up 26 cents, or 0.5 percent, from their last settlement. Brent crude futures, the international benchmark for oil prices, were at $63.47 a barrel, up 16 cents, or 0.25 percent, from their previous close.
EIA - The forecast for oil prices remains highly uncertain. WTI futures contracts for March 2018 delivery, traded during the five-day period ending December 7, 2017, averaged $57/b.
EIA - Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to data through August, up from 3.2 million b/d in 2016, making it the ninth-largest producer of petroleum and other liquids in the world. Production of crude oil in Brazil increased in recent years as producers targeted large, offshore, pre-salt oil deposits. Brazil’s pre-salt oil production in 2016 reached a record 1.02 million b/d, surpassing the 2015 production level by 33%.
LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
EIA - North Sea Brent crude oil spot prices averaged $63 per barrel (b) in November, an increase of $5/b from the average in October. EIA forecasts Brent spot prices to average $57/b in 2018, up from an average of $54/b in 2017.
WBG - The World Bank Group will no longer finance upstream oil and gas, after 2019.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $57.14 a barrel at 0418 GMT, down 22 cents, or 0.4 percent, from their last settlement. Brent crude futures LCOc1, the international benchmark for oil prices, were down 25 cents, or 0.4 percent, at $63.15 a barrel.
Russia has three oil export terminals on its Arctic coast. Shipments began from Lukoil PJSC's 240,000 barrel a day Varandey terminal in 2008. It now handles about 150,000 daily barrels from nearby fields. Gazprom Neft's Prirazlomnoye field produces approximately 80,000 barrels a day, with a target capacity of 130,000. The same company's 170,000 barrel a day Arctic Gate terminal started operations this year and exports about 150,000 barrels a day from the Novoportovskoye field. Crude from all three terminals is shipped in shuttle tankers to Murmansk, from where cargoes are sent on larger vessels to Europe.
US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 5.6 million bbl for the week ended Dec. 1 compared with the previous week. The latest estimate is 448.1 million bbl, which puts oil supplies in the upper range for this time of year, the US Energy Information Administration said.