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September 2015

September 2015
2015, September, 3, 18:45:00
KVAERNER & RUSSIA LNG
After winning a key platform construction contract from Statoil in June, Norway’s Kvaerner is reportedly working to enter into the LNG business with floating near-shore liquefaction barges designed for operations in the Arctic. Doing so, Kvaerner could increase its clout in Russia.
September 2015
2015, September, 3, 18:40:00
STRONG ROSNEFT
‘Magadanmorneftegaz, Lisyanskmorneftegaz (joint ventures of Rosneft and Statoil) and China Oilfield Services Limited (COSL) signed a contract to drill two exploration wells in 2016. The wells will be drilled in the Magadan-1 and Lisyansky areas of the Okhotsk Sea’ Rosneft wrote on Wednesday.
September 2015
2015, September, 3, 18:35:00
CHINA OIL FUTURES
China, the world's second-biggest oil consumer, has already begun to loosen its grip on the physical oil sector this year by granting quotas for imported crude to privately-owned refiners for the first time, surprising market participants with the speed of reform.
September 2015
2015, September, 3, 18:30:00
CONOCO CUTS 10%
ConocoPhillips said Tuesday that it plans to cut about 10 percent of its global workforce.
September 2015
2015, September, 1, 19:00:00
OIL UP 25%
Oil prices have rocketed more than 25 per cent in three trading sessions, with the latest boost coming from data on US production and vague hints of a change of thinking inside the Opec producers’ cartel.
September 2015
2015, September, 1, 18:55:00
OPEC'S VOICE
“Today’s continuing pressure on prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and its members—indeed for all stakeholders in the industry,” the commentary in the latest OPEC Bulletin said.
September 2015
2015, September, 1, 18:50:00
OPEC GAINS 2016
Supplies outside OPEC are expected to contract in 2016 for the first time since 2008, sliding by 200,000 barrels a day, according to the International Energy Agency. With consumption set to grow by 1.4 million barrels a day, OPEC and its de facto leader Saudi Arabia could seize the chance to broaden their market as competitors damaged by the price slump fall off.
September 2015
2015, September, 1, 18:45:00
RUSSIA READY TO DISCUSS
"It's quite possible that if oil prices remain at the low levels for long, oil production could decline, as had been the case before. Anyway, we don't expect any significant cuts,"
September 2015
2015, September, 1, 18:40:00
U.S. OIL DECREASE
EIA estimates U.S. crude oil production in June 2015 at 9.3 million barrels per day (b/d), a decrease of approximately 100,000 b/d from the revised May 2015 figure. Production estimates released in the PSM for January through May were revised downward by 40,000 b/d to 130,000 b/d. The largest revisions in volume include decreases of oil production in Texas (ranging from about 100,000 b/d to 150,000 b/d) and increases in the federal Gulf of Mexico (ranging from about 10,000 b/d to 50,000 b/d). U.S. crude oil production for the first six months of 2015 averaged 9.4 million b/d.
September 2015
2015, September, 1, 18:35:00
THE LARGEST UK GAS
The offshore development of the largest new field discovered in the UK North Sea for a decade has been approved by the UK Oil & Gas Authority. The Maersk Oil operated high pressure, high temperature (HPHT) Culzean field in the UK Central North Sea is expected to produce enough gas to meet 5% of total UK demand at peak production in 2020/21. Culzean is also the largest gas field sanctioned since East Brae in 1990.