All publications by tag «oil»
2016, June, 16, 17:50:00
KASHAGAN: I'LL BE BACK
The Kashagan oilfield development project has been marred by delays and cost overruns. It first began producing in September 2013 but was halted two weeks later due to gas leaks.
2016, June, 16, 17:45:00
OIL PRICE DOWN TO $49
The August Brent crude contract on London’s ICE fell 52¢ to $48.93/bbl, its lowest settlement since June 3. The September contract was also down 49¢ to $50.33/bbl. The July gas oil contract settled at $443.50/tonne on June 14, down $9.75.
2016, June, 14, 18:25:00
U.S. OIL PRODUCTION DOWN 118 TBD
U.S. oil production down 118 tbd, natural gas production down 476 mcfd.
2016, June, 14, 18:20:00
CHINA'S OIL PRODUCTION DOWN
PetroChina Co., the nation’s biggest producer, said in March it expects oil and gas output to fall the first time in 17 years as it shuts fields that have “no hope” of turning a profit, while Cnooc Ltd. sees output slipping as much as 5.2 percent this year.
2016, June, 14, 18:15:00
VENEZUELAN OIL DOWN
The decline of 120,000 barrels a day, to 2.37 million barrels a day, underscores the inability of state energy company Petróleos de Venezuela SA to maintain oil-industry investments, as the region’s largest petroleum exporter suffers from a debilitating cash crunch, widespread food shortages and civil unrest.
2016, June, 14, 18:10:00
NORWEGIAN OIL & GAS DOWN BY $50 BLN
Last year, Norway’s derived half of its oil and gas revenue from production taxes, 43% from the government’s direct ownership in oil and gas assets, and 7% from dividends paid by Statoil ASA, in which the government has a 67% stake.
2016, June, 13, 20:20:00
OIL PRICE DOWN TO $49.74
Brent crude oil futures LCOc1 fell to $49.74 per barrel, at 1327 GMT, down 80 cents, after trading as low as $49.61.
2016, June, 13, 20:10:00
IMF SELLS MONEY AGAIN
"Growth is expected to rebound in 2016, supported by exchange rate depreciation and accommodative monetary and fiscal policies, but uncertainty about oil prices, challenges in sustaining the global recovery, and elevated domestic vulnerabilities suggest risks to the outlook are tilted to the downside," the IMF said.
2016, June, 13, 20:05:00
OIL MARKET BALANCE
OPEC predicted that the global oil market will be more balanced in the second half of this year as demand rises and rival supplies falter, echoing views expressed by ministers at the group’s meeting this month.
2016, June, 13, 20:00:00
U.S. RIGS UP 6
U.S. Rig Count is up 4 rigs from last week to 414, with oil rigs up 3 at 328, gas rigs up 3 to 85, and miscellaneous rigs unchanged at 1.
Canadian Rig Count is up 24 rigs from last week to 65, with oil rigs up 16 to 29, gas rigs up 8 to 36.