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2015, October, 7, 19:25:00
SHELL: FUNDAMENTAL DRIVERS
Shell is planning for a longer period of low oil prices. But in the longer term, argues Ben van Beurden, there will be no change to fundamental drivers such as rising demand and the need for new supplies. Moreover, the industry should not be blinded by low oil prices. Even more than prices, the transition to a low-carbon energy future will shape its destiny over the coming decades. Carbon pricing systems are crucial in that transition. They encourage the quickest and most efficient ways of reducing emissions widely.
2015, October, 7, 19:20:00
THE NEW RUSSIAN EMPIRE - 8
Russian billionaire Mikhail Fridman’s LetterOne Group is in advanced talks to buy stakes in big oil and gasfields in the Norwegian North Sea owned by Germany’s Eon, in a $1bn-plus deal.
2015, October, 7, 19:15:00
PETROBRAS CUTS BUDGET $3 BLN
Petroleo Brasileiro SA (Petrobras) reported further cuts to its capital budget, reducing planned spending for 2015 by $3 billion to $25 billion and by $8 billion to $19 billion for 2016. The company cited low crude oil prices and unfavorable exchange rates.
2015, October, 7, 19:10:00
U.S. DEFICIT UP $17.6 BLN
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce,
announced today that the goods and services deficit was $48.3 billion in August, up $6.5 billion
from $41.8 billion in July, revised. August exports were $185.1 billion, $3.7 billion less than
July exports. August imports were $233.4 billion, $2.8 billion more than July imports.
2015, October, 6, 20:00:00
2016: TIGHTER OIL MARKET
Brent crude oil spot prices increased by $1/b in September to a monthly average of $48/b. Along with increasing volatility in global equity prices and exchange rates, crude oil price volatility increased significantly in August, reflecting uncertainty about potential lower economic and oil demand growth in emerging market countries. Volatility remained high in September, with Brent spot prices increasing from $42/b on August 24 to $50/b on September 3, before falling back into the range of $45/b to $50/b for the rest of the month.
2015, October, 6, 19:50:00
OPEC PRICE IS BETTER
OPEC expects global demand for its crude, under pressure in recent years because of rising supplies from outside the group, to rise to 30.3 million barrels per day in 2016, about 1 million bpd more than in 2015.
2015, October, 6, 19:45:00
U.S. OIL WILL DOWN
U.S. oil production growth will stop this month and begin to decline early next year due to low oil prices, the former head of oil firm EOG Resources, Mark Papa, said on Tuesday.
2015, October, 6, 19:40:00
U.S. RIGS DOWN 29
U.S. Rig Count is down 29 rigs from last week to 809, with oil rigs down 26 to 614, gas rigs down 2 to 195, and miscellaneous rigs down 1 to 0.
2015, October, 6, 19:35:00
GAZPROM & BASF SWAP
Gazprom has also received 50 per cent in Wintershall Noordzee B.V., which is involved in hydrocarbon exploration and production in the North Sea. In turn, Wintershall has obtained 25.01 per cent in the project for developing blocks 4A and 5A in the Achimov deposits of the Urengoy oil, gas and condensate field