SAUDI & U.S. OIL
U.S. Secretary of State John Kerry and Saudi King Abdullah briefly discussed global oil supplies during a meeting on the crisis in Iraq on Friday, a senior State Department official said.
During the talks, Kerry referred to recent comments by a Saudi oil official that the world's largest oil producer would increase supplies should crises in Iraq or Syria disrupt supplies, the official said.
"The secretary noted positively a recent statement from an oil official in the kingdom reflecting the kingdom's desire to do what will be required in the event of any turbulence," said the State Department official, who briefed reporters on the talks.
The official said Kerry believed the Saudi official's comments were "constructive."
U.S. officials have expressed the belief that concerns in oil markets will ease once a more inclusive government is formed in Baghdad that can deal with a Sunni insurgency threatening to break apart Iraq.
Saudi Arabia was Kerry's last stop in a week-long tour of capitals in Europe and the Middle East, which included a visit to Baghdad, to address the crisis that threatens to tear apart Iraq. The United States wants the Saudi Arabia to use its influence among fellow Sunnis in Iraq to press them to join the new government.
Brent crude oil was little changed in trading on Friday following one of the international benchmark's biggest weekly falls this year due to reduced concerns over exports from Iraq.
Prices have dropped more than $2 from a nine-month high of $115.71 hit on June 19 as output from Iraq's southern oilfields, which produce most of that nation's 3.3 million barrels per day (bpd), remained unaffected by fighting in the north and west.
|February, 16, 23:45:00|
|February, 16, 23:40:00|
|February, 16, 23:35:00|
|February, 16, 23:30:00|
|February, 16, 23:25:00|
|February, 16, 23:20:00|
AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.