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2017, March, 16, 18:55:00
CHINA'S INVESTNENT TO SAUDI
The nation’s $814 billion China Investment Corp. would be the principle investor in the planned flotation by Saudi Arabian Oil Co., according to the people, who asked not to be identified because the talks are private. China National Petroleum Corp. may also invest in the IPO, they said. No formal agreement has been reached, according to the people.
2017, March, 16, 18:50:00
SAUDI'S SALES TO CHINA
Saudi Arabia has sought to boost oil sales to China, the world's second-largest oil market, after losing market share to Russia last year, by working mostly with China's top three state oil firms.
2017, March, 16, 18:45:00
U.S. ECONOMY WILL UP
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
2017, March, 16, 18:40:00
STRENGTHENING IMF
The concentration of imbalances among a few large countries presents a risk to the global economy. It increases vulnerabilities—and even raises the risk of market disruptions.
2017, March, 16, 18:35:00
UK OIL & GAS BREXIT
In terms of regulation and policy for the upstream oil and gas industry, much of the EU legislation and directives were either based on established UK customs and practices or are already enshrined in UK law. Although it will take some considerable time to untangle the complex regulatory and policy frameworks, the impact for the oil and gas industry is likely to be modest. In terms of the UK oil and gas tax system, little is expected to change as a result of Brexit as the EU has no remit over the UK’s fiscal regime for the industry.
2017, March, 16, 18:30:00
TESCO NET LOSS $117.9 MLN
TESCO reported a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, for the fourth quarter ended December 31, 2016. Adjusted net loss for the quarter was $13.3 million, or $(0.28) per share, excluding special items, consisting primarily of several charges related to receivables and restructuring costs. This compares to a U.S. GAAP net loss of $22.1 million, or $(0.48) per diluted share in the third quarter of 2016, and a U.S. GAAP net loss of $78.1 million, or $(2.00) per diluted share, for the fourth quarter of 2015. Adjusted net loss in the third quarter of 2016 was $17.3 million, or $(0.37) per diluted share, and in the fourth quarter of 2015 was $13.4 million, or $(0.33) per diluted share.
2017, March, 14, 18:55:00
OIL PRICES: O'ER $51
U.S. West Texas Intermediate crude (WTI) CLc1 was down 7 cents at $48.33 a barrel, as of 0716 GMT. The contract ended down 9 cents in the previous session after touching its lowest since the end of November at $47.90.
Brent crude futures LCOc1 gained 3 cents to $51.32 a barrel, having settled down 2 cents on Monday after dipping as low as $50.85.
2017, March, 14, 18:50:00
U.S. OIL & GAS UP
April's U.S. oil production will up 109 tbd, gas production will up 562 mcfd.
2017, March, 14, 18:45:00
OIL PRICE WAR
"It became evident that U.S. shale oil output has become and will remain a new global oil price regulator for the foreseeable future," Rosneft said.
2017, March, 14, 18:40:00
OPEC CUTS 140%
Compliance of the Organisation of the Petroleum Exporting Countries (OPEC) with an oil output cut exceeded a target, standing at 140% in February.