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June 2015

June 2015
2015, June, 11, 19:00:00
BP: WORLD ENERGY - 2015
The most significant development on the supply side in 2014 was undoubtedly the continuing revolution in US shale. The US recorded the largest increase in oil production in the world, becoming the first country ever to increase average annual production by at least 1 million barrels per day for three consecutive years.
June 2015
2015, June, 11, 18:55:00
LUKOIL NET INCOME $0.7 BILLION
LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2015. The Company’s net income in the first quarter of 2015 amounted to $690 million, which is a 60.2% y-o-y decrease. EBITDA (earnings before interest, taxation, depreciation and amortization) in the first quarter of 2015 decreased by 29.5% to $2,816 million. Sales revenue was $23,190 million (-35.0% y-o-y). The decrease in revenue, EBITDA and net income was mainly due to the decrease in the average Urals blend oil price by more than 50% y-o-y in the first quarter of 2015.
June 2015
2015, June, 10, 19:30:00
OIL PRICES: $61 - $67
EIA forecasts Brent crude oil prices will average $61/b in 2015 and $67/b in 2016.
June 2015
2015, June, 10, 19:25:00
US SHALE OIL ROUT
More than $100bn of investment has been deferred or scrapped in response to the near-50 per cent plunge in crude over the past year.
June 2015
2015, June, 10, 19:20:00
CANADA SLOWER GROWTH
The Canadian Association of Petroleum Producers on Tuesday said it expects Canadian crude output—mostly from Alberta’s oil sands—to reach 4.96 million barrels a day by 2025. That forecast is less than the previous estimate of 5.6 million barrels a day and the 6.0 million barrels a day it had forecast back in 2013.
June 2015
2015, June, 10, 19:15:00
OIL PRICES COLLAPSE
The collapse in crude prices will pinch Canada’s long-term oil output growth by more than a million barrels a day, highlighting the lasting impact of energy companies’ capital spending cuts, said an industry group in the world’s fifth-largest producer.
June 2015
2015, June, 9, 19:30:00
CHINA: THE LARGEST
China had surpassed the United States in oil imports. It’s true that overall, China’s oil composition growth has slowed, however, their new title does point to the fact that China will consume significant amounts of crude for years to come.
June 2015
2015, June, 9, 19:25:00
EUROPE GAS DEFICIT: 50 BLN TO 2025
Europe may face deficit of gas imports of a total of 50 bln cubic meters in 2025, Gazprom Deputy Chairman Alexander Medvedev said Monday.
June 2015
2015, June, 9, 19:20:00
NOVATEK & SHELL CONTRACT
OAO Novatek announced Thursday that Novatek Gas & Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.
June 2015
2015, June, 8, 19:00:00
EU GAS IS WORSE
Not quite as severe as in the UK, he says the trend is similar in the Netherlands, considering the decline in Groningen and the curtail in production: “Moving from a net exporter of gas to a net importer of gas.” The situation across the entire EU, according to Mr. Egan, is even worse, with the European Union importing 80% of its gas, forecast to get even worse.