RUSSIA ORIENTED WINTERSHALL
BASF's subsidiary Wintershall will continue investing in its core regions, with Russia remaining the most important area for the company.
"Europe will only have energy security with Russia. These aren't geopolitical but geological facts, and that's why Russia will remain an important part of the energy provision for Western Europe" CEO Mario Mehren said on Tuesday.
Mehren took the helm of the company on Monday.
Germany's Wintershall is working with Gazprom in the joint Achimgaz project in Siberia.
"Achimgaz is a prime example of efficiency, performance and innovative strength," he said, explaining that in the 2014 the project registered a 40% year-on-year increase in production to 3.4 billion cubic meters of natural gas.
"Our Russian joint ventures produce a total of 28 billion cubic meters of natural gas each year. To put that in clear terms: that corresponds to one third of the annual requirement in Germany" Mehren added, unveiling a 500 million euros investment in the existing Achimgaz, Yuzhno Russkoye and Volgodeminoil projects in Russia until 2018.
Tuesday's announcement is nothing new. Similarly, in March, the company said it would have increased its exposure in Russia.
According to the German company, its production increase by an average of four percent over the last decade, which is reportedly more than double the average growth in the industry.
Wintershall also confirmed its commitment to the Norwegian continental shelf.
"We are transferring the Maria Field into production as our first self-operated discovery in Norway" Mehren said.
Also on Tuesday, Statoil said it sees some signs of recovery in Europe's gas demand.
"There are some positive signs that hopefully will at some point be a turning point for gas," he told
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REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.
Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в декабре 2017 года прогнозируется в размере +204,8 млрд руб.
“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”