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2015, July, 3, 19:00:00US EXPORTS UP
Petroleum product exports averaged 4.1 million barrels per day (b/d) in the first four months of the year, the latest monthly data available. This was an increase of 0.5 million b/d over the same time last year.
2015, July, 3, 18:55:00US RIGS UP 3
U.S. Rig Count is up 3 rigs from last week to 862, with oil rigs up 12 to 640, gas rigs down 9 to 219, and miscellaneous rigs unchanged at 3.
2015, July, 3, 18:50:00US JOBS DOWN
Worldwide, job cuts from the oil bust reached a staggering 150,000 at the end of May, according to energy recruiting firm Swift Worldwide Resources. However, some analysts believe the worst is over, and by the end of the year, the US could see a stout recovery. Analysts tend to agree that a slowdown in non-OPEC production, led by U.S. shale producers, and unrest in the Middle East and North Africa, particularly Iraq, would support prices this year.
2015, July, 3, 18:45:00GLOBAL LNG
“Shale was the biggest event to happen in the past decade. As shale gas production increases every year, LNG import levels have dropped drastically in the United States. In 2014, they imported only 1.6 bcm compared to 200 bcm of their total import capacity. Now, it’s expected to become an LNG exporter by the end of this year at the earliest.”
2015, July, 3, 18:40:00GAS PIPELINE GAMES
Pipelines do not determine flows: infrastructure is necessary, but flows depend on market realities. Nord Stream, for instance, expanded Russia’s export capacity by a third in 2012, yet Russia’s exports are still far below their pre-crisis levels. Exports from Algeria have suffered the same fate: in 2011, Algeria inaugurated a new pipeline to Spain, but Algeria’s pipeline exports to Europe were 35 percent lower in 2014 than in 2010. By contrast, Norway is not building new pipelines but its exports are steady and its market share is growing (since demand, the denominator, is falling).
2015, July, 3, 18:20:00EU & TURKEY GAS
Turkey remains reluctant to enter the EU Energy Community, as it would decrease its leeway on its energy policies. European laws can suit some other neighbours, but Turkey is a completely different case. Its importance for Europe, in the energy sector or in relation to migration issues, should not be underestimated.
2015, July, 3, 18:15:00NOT LIFE NOT DEATH
Ukraine expects to store enough natural gas for next winter despite cutting off imports from Russia and Russian flows crossing the country destined for Europe will not be disrupted, Energy Minister Volodymyr Demchyshyn said on Thursday.
2015, July, 3, 18:10:00EUROPE: NO FRACKING
The quest for European energy security this week suffered a pair of setbacks in Britain and Germany, two countries with large reserves of shale oil and gas.
2015, July, 3, 18:05:00RUSSIA NEEDS $70
Russia has been hit by lower oil prices and by Western sanctions over its role in the Ukraine crisis. Its rouble currency fell sharply against the dollar in 2014 and has yet to recover.
2015, July, 3, 18:00:00THE NEW NORWAY'S RESERVES
The Norwegian government confirmed Wednesday oil and gas reserves were discovered in a North Sea area not known previously to contain hydrocarbons.