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Oil

Oil
2015, August, 11, 18:10:00

CONOCO SELLS INDONESIA

U.S. oil and gas company ConocoPhillips is reviewing its portfolio in Indonesia and may soon seek buyers for a stake in a production sharing block it operates in the Natuna Sea, company and government sources said.

Oil
2015, August, 11, 18:05:00

OIL PRICES: UP TO AFRICA

As at the end of 2014, Africa has proven natural gas reserves of just under 500 trillion cubic feet (Tcf) with 90% of the continent’s annual natural gas production still coming from Nigeria, Libya, Algeria and Egypt.

Oil
2015, August, 10, 18:30:00

2Q2015 USA LOOSES

During the quarter, Apache closed the sales of its LNG business, and remaining oil and gas assets in Australia . “Exiting these businesses eliminated our exposure to projects with large capital-spending commitments and uncertain project timing,” said John J. Christmann IV, Apache chief executive officer.

Oil
2015, August, 9, 18:25:00

USA RIGS UP 10

U.S. Rig Count is up 10 rigs from last week to 884, with oil rigs up 6 to 670, gas rigs up 4 to 213, and miscellaneous rigs unchanged at 1. U.S. Rig Count is down 1,024 rigs from last year at 1,908, with oil rigs down 918, gas rigs down 103, and miscellaneous rigs down 3. The U.S. Offshore rig count is 38, up 4 rigs from last week, and down 24 rigs year over year.

Oil
2015, August, 9, 18:20:00

THE NEXT OIL WAR - 2

The Kingdom of Saudi Arabia may suffer a financial crisis before winning the economic oil war with the United States if the oil prices remain at its current level. The Kingdom needs the oil price to be around $106 per barrel to maintain its economy.

Oil
2015, August, 9, 18:15:00

LUKOIL: $1 BLN FOR AZERBAIJAN

Under the second stage of the Production Sharing Agreement of the Shah Deniz Project in Azerbaijan, LUKOIL Overseas Shah Deniz Ltd. (a fully-owned PJSC LUKOIL subsidiary) has signed in Baku a 12 year credit-facility agreement with a consortium of banks to borrow USD 1 billion.

Oil
2015, August, 7, 19:50:00

USA: BAD & BETTER

The total U.S. trade deficit peaked at $762 billion in 2006, prior to the surge in U.S. oil and natural gas production. By 2014, it had dropped to $508 billion.

Oil
2015, August, 7, 19:45:00

INDIA & CHINA COMPETITION

The six nations that make up Central Asia hold at least 11% of the world’s proven natural gas reserves, as well as substantial deposits of oil and coal, according to data compiled by BP. Afghanistan says its mineral wealth is valued at $1 trillion to $3 trillion.

Oil
2015, August, 6, 18:30:00

RUSSIAN ARCTIC ENERGY

The Arctic has become a theatre for rival claims over a sea floor believed to be rich in minerals, oil and gas.

Oil
2015, August, 5, 18:30:00

US OIL DEFAULT

On Aug. 3, US crude prices fell to $45 a barrel. In July, the average price was $60 a barrel. Banks are starting to tighten up their lending standards, further draining liquidity out of the market.

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