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2016, August, 9, 18:35:00
IRAN - INDONESIA COOPERATION
Indonesia is looking to increase imports of LPG, petrochemical products and crude oil from Iran in the near future. Earlier this year, Indonesia inked a deal to buy LPG from Iran.
2016, August, 9, 18:30:00
IRAN-PAKISTAN GAS PIPELINE
Iran has already built 900 km length of the pipeline on its territory while Pakistan still has to start work on the pipeline. Once the pipeline is operational, about 250 million cubic feet gas would be imported from Iran during first year, while in the second year the import of gas would be enhanced to 500 million cubic feet while in the third year 750 million cubic feet gas would be imported.
2016, August, 8, 19:25:00
OIL PRICES UP TO $44.4
U.S. West Texas Intermediate (WTI) crude oil futures were at $42.01 per barrel at 0022 GMT, up 21 cents, or 0.5 percent, from their last close.
Brent crude futures were trading at $44.40 per barrel, up 13 cents, or 0.29 percent.
2016, August, 8, 19:20:00
PRICE'S TALKS: NO NEED
Russia, Saudi Arabia and other major oil exporters met in Doha in April in a bid to stabilize global markets by putting caps on output. The effort collapsed as Saudi Arabia demanded that rival Iran join the pact. At the time, Iran had ruled out any limits as it ramped up production after the lifting of international sanctions.
2016, August, 8, 19:15:00
OIL PRICES: $40 - $50
Greenspan sees oil trading in a range of about $40 to $50 a barrel over the next couple of years. A $50 price would be high enough to encourage new shale oil production in the U.S., he said.
Oil futures traded near $42 a barrel in New York on Thursday, down from a 2016 closing high of $51.23 on June 8.
2016, August, 8, 19:10:00
OPEC: DEMAND WILL UP
“Higher oil demand is expected in the 3rd and 4th Quarters”, HE Dr Mohammed Bin Saleh Al-Sada, Qatar’s Minister of Energy and Industry and current OPEC President said, expressing positive sentiments in a brief released from OPEC.
2016, August, 8, 19:05:00
U.S. RIG COUNT UP 1
U.S. Rig Count is up 1 rig from last week to 464, with oil rigs up 7 to 381, gas rigs down 5 to 81, and miscellaneous rigs down 1 to 2.
Canadian Rig Count is up 3 rigs from last week to 122, with oil rigs unchanged at 60, gas rigs up 2 to 60, and miscellaneous rigs up 1 to 2.
2016, August, 8, 19:00:00
U.S. JOBS DOWN 142,000
Employment in oil and natural gas production reached a high of 538,000 jobs in October 2014. Since then, oil and natural gas production employment declined 26%, a loss of more than 142,000 jobs through May 2016, based on the latest jobs data available. The total decrease in production jobs is nearly three times the 51,000 jobs lost over a 13-month period during the 2008–09 recession.
2016, August, 8, 18:55:00
U.S. DEFICIT UP TO $44.5 BLN
The deficit rose to $44.5 billion in June, 8.7 percent higher than a revised May deficit of $41 billion, the Commerce Department reported Friday. It was the biggest gap between what America sells abroad and what the country imports since a $44.6 billion deficit last August.
2016, August, 8, 18:50:00
MAJORS SELL ASSETS
In common with other oil companies, the European trio are looking to divest non-core assets to help shore up their balance sheets and defend dividends at a time of mounting pressure from the prolonged weakness in oil prices.