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Upstream

Upstream
2016, September, 30, 18:30:00

UK'S OIL COLLAPSE

"The UK continental shelf is in urgent need of fresh investment to boost exploration and drive activity, particularly for the supply chain," Oil and Gas UK chief executive Deirdre Michie said, going on to call for additional government efforts to encourage investment.

Upstream
2016, September, 29, 18:45:00

OPEC AGREED

"OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," said Iranian Oil Minister Bijan Zanganeh, who had repeatedly clashed with Saudi Arabia during previous meetings.

Upstream
2016, September, 29, 18:40:00

SAUDI - IRAN COMPROMISE

While Tehran wants to set its production target at about 4.2 million barrels per day, Riyadh last week asked its regional rival to freeze its output at 3.6 million barrels per day in return for a production cut.

Upstream
2016, September, 28, 18:55:00

СТАБИЛИЗАЦИЯ МИРОВОГО РЫНКА

«Во втором полугодии цены будут колебаться между 40 и 50 долларов за баррель, в среднем по 2017 году мы ожидаем стоимость нефти в диапазоне 50-60 долларов», - сказал глава Минэнерго России.

Upstream
2016, September, 28, 18:50:00

IRAN WANTS 13%

The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.

Upstream
2016, September, 28, 18:45:00

SAUDI NEEDS A GENTLE

“We need a gentle adjustment to reassure the market,” Mr. Falih said at a briefing where he was flanked by his Russian counterpart, Alexander Novak.

Upstream
2016, September, 27, 18:40:00

MARKET ISN'T FAVORITABLE

Speaking to Shana while departing Tehran for Algiers to attend the International Energy Forum (IEF) to be held Tuesday and Wednesday in Algiers, Zangeneh said the current market conditions are not favorable for crude oil producers and consumers in the mid- and long terms.

Upstream
2016, September, 27, 18:30:00

HARD RUSSIAN OIL

Top Russian producer Rosneft expects the share of hard-to-recover oil production to rise to 11 percent of its total crude output by 2020, from 7 percent this year. Gazprom Neft, the oil arm of state gas producer Gazprom, is raising its share of output of hard-to-recover oil by tapping more reserves at the Messoyakha project and other assets.

Upstream
2016, September, 26, 19:05:00

OIL MARKET IS WEAK

“While the oil market has recovered from its most severe period, it’s still weak,” Nasser said.

Upstream
2016, September, 26, 19:00:00

SAUDI NEEDS CONSENSUS

“The kingdom is looking for consensus among oil producers to reach a credible arrangement for stabilising oil markets,” a Saudi official said on Friday. “We are looking at different scenarios and options to reaching this goal.”

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