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2015-01-06 12:50:00

RUSSIA & IRAQ OIL SUPPLIES

RUSSIA & IRAQ OIL SUPPLIES

Oil supplies in Iraq and Russia surged to the highest level in decades, signaling no respite in early 2015 from the glut that has pushed crude prices to their lowest in five years. Russian oil production rose 0.3 per cent in December to a post-Soviet record of 10.667 million barrels a day, according to preliminary data e-mailed yesterday by CDU-TEK, part of the Energy Ministry. Iraq exported 2.94 million barrels a day in December, the most since the 1980s, said Oil Ministry spokesman Asim Jihad. The countries provided 15 per cent of the world's oil in November, according to the International Energy Agency.

Oil slumped 48 per cent in London in 2014, the steepest decline since the 2008 financial crisis, as the Organisation of Petroleum Exporting Countries refused to pare output in response to the highest US oil production in three decades. Russian Energy Minister Alexander Novak, who met with some OPEC members in November, said the nation will maintain output this year and expects prices to stabilize.

"With the latest news from Russia and Iraq, the focus on rising supply remains a key negative driver for oil," Ole Sloth Hansen, an analyst at Saxo Bank A/S in Copenhagen, said yesterday by e-mail. Brent crude futures, at about US$56 (RM197) a barrel yesterday, may slip below US$50 this year, he said.

oilandgaseurasia.com

Tags: RUSSIA, IRAQ, OIL, PRICES
RUSSIA & IRAQ OIL SUPPLIES January, 22, 08:15:00

INDIA'S NUCLEAR POWER - 2017

RUSSIA & IRAQ OIL SUPPLIES January, 22, 08:10:00

CHINA'S NUCLEAR POWER - 2017

RUSSIA & IRAQ OIL SUPPLIES January, 22, 08:05:00

U.S. - RUSSIA'S NUCLEAR

RUSSIA & IRAQ OIL SUPPLIES January, 22, 08:00:00

ONGC BUYS FOR $5.78 BLN

RUSSIA & IRAQ OIL SUPPLIES January, 22, 07:55:00

RUSSIAN LNG TO U.S.

RUSSIA & IRAQ OIL SUPPLIES January, 22, 07:50:00

ALBANIA NEED INVESTMENT

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Chronicle:

RUSSIA & IRAQ OIL SUPPLIES
2018, January, 22, 07:45:00

GAS PRICES: $3.185/MMBTU

PLATTS - After see-sawing around Thursday's settle, the NYMEX February natural gas futures contract ultimately settled Friday at $3.185/MMBtu, 0.4 cent lower as an increasingly bearish demand picture forms through the end of January.

RUSSIA & IRAQ OIL SUPPLIES
2018, January, 22, 07:40:00

SCHLUMBERGER IS BETTER

FT - Excluding those items, earnings per share for the fourth quarter of 2017 were 48 cents, up 78 per cent from the equivalent period of 2016 and above the average forecast of 44 cents.

RUSSIA & IRAQ OIL SUPPLIES
2018, January, 22, 07:35:00

SCHLUMBERGER NET LOSS $1.5 BLN

SCHLUMBERGER - Full-year 2017 revenue of $30.4 billion increased 9% year-on-year. This included a full year’s activity from the acquired Cameron businesses as compared to three quarters of activity in 2016. Excluding the addition of Cameron, revenue growth was driven by land activity in North America, which increased by 82% in line with the increase in rig count. Full-year Production Group revenue increased 21%, Reservoir Characterization Group revenue improved 2%, and Drilling Group revenue declined 2%.

RUSSIA & IRAQ OIL SUPPLIES
2018, January, 22, 07:30:00

U.S. RIGS DOWN 3 TO 936

BAKER HUGHES A GE - U.S. Rig Count is down 3 rigs from last week to 936, with oil rigs down 5 to 747, gas rigs up 2 to 189, and miscellaneous rigs unchanged. Canada Rig Count is up 49 rigs from last week to 325, with oil rigs up 23 to 208 and gas rigs up 26 to 117.

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