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June 2015

June 2015
2015, June, 15, 18:50:00
RUSSIAN DEAL NO SANCTIONS
Europe’s biggest oil groups are extending business deals with their Russian energy partners despite this month’s EU vote to continue imposing sanctions, highlighting how western companies are learning to live with the restrictions placed on Moscow.
June 2015
2015, June, 15, 18:45:00
RUSSIAN GAS FOR EUROPE
Gazprom revived its contract with Italian contractor Saipem (controlled by state-run Eni SpA). The Milan-based company had signed two contracts worth €2.4 bn in total for the construction of an undersea pipeline and support services for construction of a second undersea pipeline, both part of much touted South Stream. The contract terms are now being renegotiated, so as to start construction in time for the 2016 deadline.
June 2015
2015, June, 15, 18:40:00
CHINA & PHILIPPINES TALKS
China’s ambassador to the Philippines has suggested that the two countries sit down for talks on the most squeamish territorial dispute in Asia. The question of who controls the fishery-rich, 3.5 million-square-kilometer South China Sea, also full of oil and natural gas as well as major world shipping lanes, could proceed from military preparations to a calm negotiating room. The two governments – both unusually aggressive in asserting rival claims to the sea — might be able to work something out. The Philippines is talking now to Taiwan to agree on law enforcement in their own overlapping waters.
June 2015
2015, June, 14, 17:30:00
U.S. RIGS DOWN 9
U.S. Rig Count is down 9 rigs from last week to 859, with oil rigs down 7 to 635, gas rigs down 1 to 221, and miscellaneous rigs down 1 to 3. U.S. Rig Count is down 995 rigs from last year at 1854, with oil rigs down 907, gas rigs down 89, and miscellaneous rigs up 1. The U.S. Offshore rig count is 29, up 2 rigs from last week, and down 30 rigs year over year.
June 2015
2015, June, 14, 17:25:00
NORWAY INVESTMENTS: NOK 184.8 BLN
According to Statistics Norway, total investments in oil and gas activity in 2016 should be NOK 184.9 billion, which is 1.4% higher than the corresponding estimate for 2015.
June 2015
2015, June, 14, 17:20:00
IRAN NEEDS $100 BLN
Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions.
June 2015
2015, June, 12, 20:55:00
OIL PRICES UP
The expected decrease in shale oil production this summer is causing oil prices to rise. According to the Drilling Productivity report released June 8 by the Energy Information Administration, the government is calling for a 91,000 less barrels per day of shale oil in July. Oil prices seemingly rebounded after the data was released. This news comes on the heels of a decline in oil prices on June 8 due to the Chinese oil crisis concerning oversupply and less demand.
June 2015
2015, June, 12, 20:50:00
U.S. OIL WILL DOWN
U.S crude production will dip by as many as 300,000 barrels per day until early 2016 before ramping up again, according to the Energy Information Administration’s latest short-term energy outlook.
June 2015
2015, June, 12, 20:45:00
RUSSIA & NETHERLANDS GAS DOWN
Global trade of natural gas via pipelines fell the most on record last year as Russia halted exports to Ukraine and shipments declined from the Netherlands, the European Union’s biggest producer, according to BP.
June 2015
2015, June, 12, 20:40:00
STATOIL FINDS GAS
A consortium led by Norway’s Statoil discovered a gas pay zone at wildcat well 6706/11-2 in the Gymir prospect in the Norwegian Sea. The well was drilled about 12 miles west of the Aasta Hansteen field to prove petroleum in Upper Cretaceous reservoir rocks, in the Nise formation.