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July 2015

July 2015
2015, July, 7, 19:15:00
RUSSIAN - TURKISH STREAM
After the cancellation of the South Stream natural gas pipeline last December due to the EU’s blockage of the project, Russia announced an alternative project called the Turkish Stream which will hit the shore on the European side of Turkey near Kıyıköy.
July 2015
2015, July, 7, 19:10:00
SAUDI & RUSSIA INVESTMENTS
Saudi Arabia has signed a commitment to invest up to $10 billion in Russia, the Russian Direct Investment Fund said Monday.
July 2015
2015, July, 7, 19:05:00
OIL PRICES DOWN 8%
Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses.
July 2015
2015, July, 7, 19:00:00
ROSNEFT IN BRAZIL
Rosneft Brasil (Rosneft subsidiary) and PetroRio received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 55% in the Solimoes project. Under the agreement the final completion date of the purchase and transaction shall be agreed between PetroRio and Rosneft Brasil and is expect to occur within 30 days.
July 2015
2015, July, 3, 19:00:00
US EXPORTS UP
Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, the latest monthly data available. This was an increase of 0.5 million b/d over the same time last year.
July 2015
2015, July, 3, 18:55:00
US RIGS UP 3
U.S. Rig Count is up 3 rigs from last week to 862, with oil rigs up 12 to 640, gas rigs down 9 to 219, and miscellaneous rigs unchanged at 3.
July 2015
2015, July, 3, 18:50:00
US JOBS DOWN
Worldwide, job cuts from the oil bust reached a staggering 150,000 at the end of May, according to energy recruiting firm Swift Worldwide Resources. However, some analysts believe the worst is over, and by the end of the year, the US could see a stout recovery. Analysts tend to agree that a slowdown in non-OPEC production, led by U.S. shale producers, and unrest in the Middle East and North Africa, particularly Iraq, would support prices this year.
July 2015
2015, July, 3, 18:45:00
GLOBAL LNG
“Shale was the biggest event to happen in the past decade. As shale gas production increases every year, LNG import levels have dropped drastically in the United States. In 2014, they imported only 1.6 bcm compared to 200 bcm of their total import capacity. Now, it’s expected to become an LNG exporter by the end of this year at the earliest.”
July 2015
2015, July, 3, 18:40:00
GAS PIPELINE GAMES
Pipelines do not determine flows: infrastructure is necessary, but flows depend on market realities. Nord Stream, for instance, expanded Russia’s export capacity by a third in 2012, yet Russia’s exports are still far below their pre-crisis levels. Exports from Algeria have suffered the same fate: in 2011, Algeria inaugurated a new pipeline to Spain, but Algeria’s pipeline exports to Europe were 35 percent lower in 2014 than in 2010. By contrast, Norway is not building new pipelines but its exports are steady and its market share is growing (since demand, the denominator, is falling).
July 2015
2015, July, 3, 18:20:00
EU & TURKEY GAS
Turkey remains reluctant to enter the EU Energy Community, as it would decrease its leeway on its energy policies. European laws can suit some other neighbours, but Turkey is a completely different case. Its importance for Europe, in the energy sector or in relation to migration issues, should not be underestimated.