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July 2016

July 2016
2016, July, 26, 19:00:00
PHILIPPINES NEED OFFSHORE
The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. That reliance will grow further in a few years when the main source of domestic natural gas runs out, so the clock is ticking for it to develop offshore fields that China shows no sign of loosening its grip on.
July 2016
2016, July, 26, 18:55:00
HALLIBURTON NET LOSS $3.21 BLN
“Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe,” said Dave Lesar, Chairman and CEO.
July 2016
2016, July, 26, 18:50:00
EXXON & INTEROIL DEAL: $2.5 BLN
Exxon Mobil Corporation (NYSE: XOM) and InterOil Corporation (NYSE: IOC, POMSoX: IOC) announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil (the ExxonMobil Transaction).
July 2016
2016, July, 26, 18:45:00
SCHLUMBERGER NET LOSS $2.16 BLN
Schlumberger Chairman and CEO Paal Kibsgaard commented, “In the second quarter market conditions worsened further in most parts of our global operations, but in spite of the continuing headwinds we now appear to have reached the bottom of the cycle. As we continued to navigate this challenging environment, we again delivered robust pretax operating income, operating margin, and free cash flow. This performance came as a result of our strong execution and, in some cases, at the expense of revenue as we began shifting focus onto recovering our pricing concessions and high-grading our contract portfolio".
July 2016
2016, July, 26, 18:40:00
BP PROFIT $720 MLN
Bob Dudley, BP group chief executive said: " BP today is a stronger, more focused and more disciplined company. We continue to actively develop a strong, balanced portfolio and we are managing the business for value over volume. Our relentless group-wide focus on capital and cost discipline is helping BP to become much more efficient while maintaining the investment needed for future growth".
July 2016
2016, July, 26, 18:35:00
OIL COULD BE UNECONOMIC
“The industry has got a real problem,” says Chris Pateman-Jones of Ernst & Young. “Projects are becoming larger and more complex and more challenging … Even if they were to hit their targets, they could still be uneconomic.”
July 2016
2016, July, 26, 18:30:00
OIL PRICES UP TO $44.93
International Brent crude oil futures LCOc1 were trading at $44.93 per barrel at 0501 GMT, up 21 cents from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $43.23, up 10 cents per barrel.
July 2016
2016, July, 23, 15:41:00
OIL PRICES DOWN TO $44.75
The NYMEX crude oil contract for September declined $1/bbl to settle at $44.75/bbl on July 21. The October contract dropped $1/bbl to close at $45.45/bbl. The natural gas contract for August gained 3¢ to $2.69/MMbtu. The Henry Hub gas price declined 2¢ to $2.70/MMbtu on July 21.
July 2016
2016, July, 23, 13:59:00
U.S. RIGS UP 15
U.S. Rig Count is up 15 rigs from last week to 462, with oil rigs up 14 to 371, gas rigs down 1 to 88, and miscellaneous rigs up 2 to 3. Canadian Rig Count is up 7 rigs from last week to 102, with oil rigs up 4 to 48, gas rigs up 3 to 53, and miscellaneous rigs unchanged at 1.
July 2016
2016, July, 22, 15:27:00
OIL PRICES UP TO $44.94
The NYMEX crude oil contract for August gained 29¢ to settle at $44.94/bbl on July 20. The September contract gained 30¢ to close at $45.75/bbl. The natural gas contract for August dropped 7¢ to $2.66/MMbtu. The Henry Hub gas price declined 9¢ to $2.72/MMbtu on July 20