OIL & GAS FUTURES LOWER
Crude oil and natural gas futures prices ended last week lower.
The New York Mercantile Exchange October crude oil contract fell 66¢ on Sept. 19, settling at $92.41/bbl. The November contract lost 33¢ to $91.65/bbl.
The natural gas contract for October declined 7.3¢ to a rounded $3.84/MMbtu. On the US cash market, gas at Henry Hub, La., was $3.86/MMbtu, dropping 10¢.
Heating oil for October delivery was up less than a penny to a rounded $2.72/gal. Reformulated gasoline stock for oxygenate blending for October gained 5.04¢ to $2.61/gal.
The November ICE contract for Brent crude delivery rose 69¢, closing at $98.39/bbl. The December contract gained 67¢ to $99.03/bbl. The ICE gas oil contract for October lost 75¢ to settle at $823.25/tonne.
The average price for the Organization of Petroleum Exporting Countries' basket of 12 benchmark crudes on Sept. 19 was $94.44/bbl, falling 75¢.
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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.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
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.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.