All publications by tag «OIL»
2016, July, 28, 18:30:00
STATOIL CUTS $1 BLN
Statoil ASA plans to cut its capital expenditure guidance for 2016 to $12 billion from $13 billion. That includes an exploration guidance reduction to $1.8 billion from $2 billion.
2016, July, 27, 19:05:00
WBG: 2016: OIL PRICE $43
The World Bank is raising its 2016 forecast for crude oil prices to $43 per barrel from $41 per barrel due to supply outages and robust demand in the second quarter.
2016, July, 27, 18:40:00
BRITAIN HAS CUT TO 90%
"We recognise that market conditions are currently very difficult but nevertheless we have a shared goal of making the basin as attractive as possible for exploration," Andy Samuel, chief executive of the OGA, said.
2016, July, 27, 18:35:00
VENEZUELA NEED MONEY
Venezuela and state oil company PDVSA face heavy debt payments this year amid weak oil markets and continuing decay of its socialist economic model. Neither have been able to borrow in recent years because the extremely high yields have made such operations too costly.
2016, July, 27, 18:30:00
STATOIL NET LOSS $302 MLN
“We see continued progress on our plan to improve efficiency and make faster and deeper cost reductions. As an additional tool to strengthen the company’s financial flexibility, we have successfully introduced a scrip dividend”, says Sætre.
2016, July, 26, 19:05:00
INDIA'S OIL RESERVES
India's ultimate goal is to have an SPR that provides 90 days of net import coverage. The Indian government unveiled plans to add another 91 million barrels of SPR capacity in a second phase by 2020, although these facilities are still in the planning phase. The Indian Strategic Petroleum Reserves Limited (ISPRL), a special-purpose legal entity owned by the Oil Industry Development Board, would manage all of the SPR facilities.
2016, July, 26, 19:00:00
PHILIPPINES NEED OFFSHORE
The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. That reliance will grow further in a few years when the main source of domestic natural gas runs out, so the clock is ticking for it to develop offshore fields that China shows no sign of loosening its grip on.
2016, July, 26, 18:50:00
EXXON & INTEROIL DEAL: $2.5 BLN
Exxon Mobil Corporation (NYSE: XOM) and InterOil Corporation (NYSE: IOC, POMSoX: IOC) announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil (the ExxonMobil Transaction).
2016, July, 26, 18:35:00
OIL COULD BE UNECONOMIC
“The industry has got a real problem,” says Chris Pateman-Jones of Ernst & Young. “Projects are becoming larger and more complex and more challenging … Even if they were to hit their targets, they could still be uneconomic.”
2016, July, 26, 18:30:00
OIL PRICES UP TO $44.93
International Brent crude oil futures LCOc1 were trading at $44.93 per barrel at 0501 GMT, up 21 cents from their last close. U.S. West Texas Intermediate (WTI) crude CLc1 was at $43.23, up 10 cents per barrel.