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2015, May, 8, 17:40:00
RUSSIAN GAS CONDENSATE
Condensate is especially important now because it’s not covered by sanctions on Russia’s oil industry that have targeted Arctic drilling and shale projects. Production of the ultra- light crude will swell as much as 17% this year, according to estimates by Gazprombank. That makes it a key factor driving growth, said Alexander Nazarov, an analyst at the country’s third biggest lender.
2015, May, 8, 17:35:00
OCCIDENTAL RAISED OUTPUT
Occidental Petroleum Corp boosted its 2015 production forecast on Wednesday after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices.
Occidental raised its 2015 output forecast by 20,000 barrels of oil equivalent per day (boe/d), citing “a more optimistic outlook for the remainder of the year.”
2015, May, 5, 18:15:00
MARKET HAS GONE AGAINST
A flagship Russian gas project may soon test Moscow’s newfound willingness to cede greater control of its energy assets to Beijing in exchange for much-needed Chinese financing.
2015, May, 5, 18:10:00
EU IGNORES RUSSIA
The gas war between Russia and the West has been limited to the verbal so far and not seen any casualties except for the cancellation of the South Stream project.
2015, May, 5, 18:05:00
CHINA'S OIL PURGE
China appointed new heads for each of its three national oil companies on Monday, in a sweeping reshuffle of the industry at the heart of its two-year anti-corruption drive.
2015, May, 5, 18:00:00
U.S. OIL LOAN DEFAULTS
Banks in the U.S. are cutting credit lines to energy companies and forcing firms to cough up more collateral to guard against fallout from the past year’s plunge in oil prices, a Federal Reserve survey found.
2015, May, 4, 12:15:00
U.S. OIL RIGS DOWN 27
U.S. Rig Count is down 27 rigs from last week to 905, with oil rigs down 24 to 679, gas rigs down 3 to 222, and miscellaneous rigs unchanged at 4.
2015, May, 4, 12:10:00
RUSSIA&TURKEY STREAM
Last December Moscow took Europe by surprise with an announcement that South Stream, a 63 billion cubic metre (bcm) pipeline designed to bring Russian natural gas to southern Europe across the Black Sea would be scrapped and replaced with a pipeline of similar capacity that would cross Turkey and stop at its border with Greece.
2015, May, 4, 12:05:00
SAUDI&CHINA GROWTH
The head of oil in Saudi Arabia reaffirmed the country's commitment to supplying oil resources to meet increasing demand in Asia, Reuters reported. Oil Minister Ali al-Naimi recently visited China and said that oil demand in Asia is still strong, citing the increasing need for energy as the middle class grows.
2015, May, 4, 12:00:00
CANADA'S LNG PROGECTS
Large quantities of shale gas, tight gas and coalbed methane are being discovered and extracted in the vast Western Canadian Sedimentary Basin (WCSB), which covers southwestern Manitoba, southern Saskatchewan, Alberta (AB), northeastern British Columbia (BC) and the southwest corner of the Northwest Territories.