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October 2016

October 2016
2016, October, 14, 18:50:00
WORLD OIL DEMAND WILL UP BY 1.15 MBD
World oil demand in 2016 is seen increasing by 1.24 mb/d to average 94.40 mb/d. Positive revisions were primarily a result of higher-than-expected demand in the Other Asia region, while downward revisions were a result of lower-than-expected performance from OECD America. In 2017, world oil demand is anticipated to rise by 1.15 mb/d, to average 95.56 mb/d.
October 2016
2016, October, 14, 18:45:00
ROSNEFT WILL BUY INDIA
Rosneft will get 49% and the two investors -- Trafigura and UCP -- will hold the remaining 49% in equal parts, the sources said, adding that the valuation included about $4.5 B in assumed debt.
October 2016
2016, October, 14, 18:40:00
AUSTRALIAN LNG: 25 MLN MT
The three facilities have the combined capacity to supply 25mn mt/yr of LNG –equal to about 8% of the world’s production, Bechtel said October 11.
October 2016
2016, October, 14, 18:35:00
U.S. OIL WELLS UNCHANGED
API announced today that estimated oil wells drilled and completed in the third quarter of 2016 remained relatively unchanged from the previous quarter at 2,285. That is a decline of 3.7%, which follows an average of 17.3% in quarterly declines for the past year and a half.
October 2016
2016, October, 14, 18:30:00
THE FIRST KASHAGAN'S OIL
The project has been plagued by multiple delays and cost overruns. A 2008 budget estimate of $38 billion jumped to $53 billion by the end of last year as the partners replaced undersea links after sour gas cracked the pipes.
October 2016
2016, October, 13, 18:55:00
OIL PRICES: ABOVE $51
Brent crude, the global oil benchmark, rose 0.2% to $51.91 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.1% at $50.21 a barrel.
October 2016
2016, October, 13, 18:50:00
RUSSIA & SAUDI COOPERATION
Coordinated output curbs by Russia and the Organization of Petroleum Exporting Countries, who together pump about half the world’s oil, could boost fuel prices for consumers and revive the fortunes of a battered energy industry. While Putin’s comments are the firmest indication yet that such an agreement is possible, Russia is still pumping at record levels and has stopped short of a commitment to pull back. OPEC members also have many hurdles to overcome before implementing their first cuts in eight years.
October 2016
2016, October, 13, 18:45:00
CHINA OIL IMPORTS UP
The world’s biggest energy user imported 33.06 million metric tons of crude in September, according to data released by the General Administration of Customs on Thursday. That’s about 8.08 million barrels a day. China’s net fuel exports were at 2.37 million tons last month, near the record 2.49 million in July.
October 2016
2016, October, 13, 18:40:00
GAZPROM TO AUSTRIA: UP 23.8%
In 2015, Russian gas exports to Austria rose 11.5 per cent versus 2014. From January 1 through October 10, 2016, Russian gas supplies to Austria totaled 4.18 billion cubic meters, which was 23.8 per cent higher than in the same period of 2015.
October 2016
2016, October, 13, 18:30:00
ROSNEFT BOUGHT BASHNEFT
The deal was strongly appreciated by the investment community for the expansion of the Combined Company to the new crude oil and petroleum product production and supply areas, Rosneft adding 10% of liquid hydrocarbon production and 20% of refining throughput as well as for significant synergies arising from optimization of mutual oil supplies, transport and logistics costs, drilling cost reduction and joint use of production assets’ infrastructure, modern technologies and know-how.