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2015, June, 14, 17:25:00
NORWAY INVESTMENTS: NOK 184.8 BLN
According to Statistics Norway, total investments in oil and gas activity in 2016 should be NOK 184.9 billion, which is 1.4% higher than the corresponding estimate for 2015.
2015, June, 14, 17:20:00
IRAN NEEDS $100 BLN
Iran needs $100 billion to rebuild its gas industry and has met with European energy giants as an end to decades of international sanctions looms, according to the state-run company in charge of discussions.
2015, June, 12, 20:55:00
OIL PRICES UP
The expected decrease in shale oil production this summer is causing oil prices to rise. According to the Drilling Productivity report released June 8 by the Energy Information Administration, the government is calling for a 91,000 less barrels per day of shale oil in July. Oil prices seemingly rebounded after the data was released. This news comes on the heels of a decline in oil prices on June 8 due to the Chinese oil crisis concerning oversupply and less demand.
2015, June, 12, 20:50:00
U.S. OIL WILL DOWN
U.S crude production will dip by as many as 300,000 barrels per day until early 2016 before ramping up again, according to the Energy Information Administration’s latest short-term energy outlook.
2015, June, 12, 20:45:00
RUSSIA & NETHERLANDS GAS DOWN
Global trade of natural gas via pipelines fell the most on record last year as Russia halted exports to Ukraine and shipments declined from the Netherlands, the European Union’s biggest producer, according to BP.
2015, June, 12, 20:40:00
STATOIL FINDS GAS
A consortium led by Norway’s Statoil discovered a gas pay zone at wildcat well 6706/11-2 in the Gymir prospect in the Norwegian Sea.
The well was drilled about 12 miles west of the Aasta Hansteen field to prove petroleum in Upper Cretaceous reservoir rocks, in the Nise formation.
2015, June, 11, 19:00:00
BP: WORLD ENERGY - 2015
The most significant development on the supply side in 2014 was undoubtedly the continuing
revolution in US shale. The US recorded the largest increase in oil production in the world,
becoming the first country ever to increase average annual production by at least 1 million
barrels per day for three consecutive years.
2015, June, 11, 18:55:00
LUKOIL NET INCOME $0.7 BILLION
LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2015.
The Company’s net income in the first quarter of 2015 amounted to $690 million, which is a 60.2% y-o-y decrease. EBITDA (earnings before interest, taxation, depreciation and amortization) in the first quarter of 2015 decreased by 29.5% to $2,816 million. Sales revenue was $23,190 million (-35.0% y-o-y). The decrease in revenue, EBITDA and net income was mainly due to the decrease in the average Urals blend oil price by more than 50% y-o-y in the first quarter of 2015.
2015, June, 10, 19:30:00
OIL PRICES: $61 - $67
EIA forecasts Brent crude oil prices will average $61/b in 2015 and $67/b in 2016.
2015, June, 10, 19:25:00
US SHALE OIL ROUT
More than $100bn of investment has been deferred or scrapped in response to the near-50 per cent plunge in crude over the past year.