EU & RUSSIA: AGREE
Brussels and Moscow agreed on the necessity of setting an interim price and a repayment plan for the unpaid bills.
"We have to agree on an interim gas price for the next few months, while waiting for the Stockholm arbitration court to decide on the final price. In addition: Ukraine has to pay an account for the gas to be delivered in the months to come," Vice-President of the EU Commission Günther H. Oettinger commented after a meeting with Russia's Energy Minister Alexander Novak.
The two delegations met in Moscow on Friday to find a way out of the gas dispute between Ukraine and Russia.
"Our main goal is to secure gas supply to the EU and its citizens, but also to the citizens in Russia, Ukraine, the Western Balkans, including accession countries and Moldova," Oettinger added in a note.
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Libya’s oil production increased steeply to the current level of 850,000 b/d from a low point in August 2016 of below 300,000 b/d. Production surpassed 1 million b/d in July.
- Revenue of $7.9 billion increased 6% sequentially - Pretax operating income of $1.1 billion increased 11% sequentially - GAAP EPS, including Cameron integration-related charges of $0.03 per share, was $0.39 - EPS, excluding Cameron integration-related charges, was $0.42 - Cash flow from operations was $1.9 billion; free cash flow was $1.1 billion
“The combination of GE Oil & Gas and Baker Hughes closed on July 3, and we are pleased with our progress during our first operating quarter. Despite the continuing challenging environment, we delivered solid orders growth and secured important wins from customers, advanced existing projects and enhanced our technology offerings in the quarter. We also achieved key integration milestones and made significant progress working as a combined company. I am now more convinced than ever that we combined the right companies at the right time,” said Lorenzo Simonelli, BHGE chairman and chief executive officer.
U.S. Rig Count is up 360 rigs from last year's count of 553, with oil rigs up 293, gas rigs up 69, and miscellaneous rigs down 2 to 2. Canada Rig Count is up 59 rigs from last year's count of 143, with oil rigs up 38 and gas rigs up 21.