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Finance

Finance
2016, May, 19, 19:50:00

AZERBAIJAN NEED GAS

Socar President Rovnag Abdullaev disclosed last week that Azerbaijan was in the process of negotiating an agreement under which it would purchase 3-5bn m³/yr of gas from Gazprom.

Finance
2016, May, 19, 19:45:00

RUSSIAN OIL UPDOWN

Perhaps the biggest hurdle is Russia’s business climate. While frequently fodder for criticism, there’s progress. Russia has surged by 61 spots in the World Bank’s Ease of Doing Business Index since 2013 to 51st this year.

Finance
2016, May, 5, 19:10:00

U.S. BANKRUPTCY UP

The rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after this week's filings for creditor protection by Midstates Petroleum MPOY.PK and Ultra Petroleum UPL.NL.

Finance
2016, May, 5, 18:25:00

PETROBRAS SELLS $1.4 BLN

Petrobras said that it sold a 67% stake in its Petrobras Argentina subsidiary to Pampa Energía, an Argentinean energy firm, for $892 million. Petrobras had previously disclosed that it was in negotiations with Pampa Energia.

Finance
2016, May, 5, 18:05:00

HALLIBURTON VS U.S.: SENSELESSLY

Halliburton’s chief executive has blamed an increasingly difficult US regulatory climate for the collapse of his company’s $28bn bid for rival Baker Hughes, which was abandoned on Sunday.

Finance
2016, May, 3, 14:55:00

THREE FACTORS OF BP

BP’s own forecast shows global energy demand rising one-third higher by 2035 than it is today, which would be like adding the total combined energy demand of the US, the European Union, and Japan. And it’s BP’s expectation that more than half of this demand will be met by oil and gas by 2035.

Finance
2016, April, 26, 20:15:00

IMF SELLS MONEY

The International Monetary Fund said it was encouraged by the efforts of Saudi Arabia and other Gulf Arab oil exporters to repair damage to their state finances as low crude prices slash export revenues.

Finance
2016, April, 26, 19:35:00

ROSNEFT CUT STAFF: 20%

Within unstable market conditions Rosneft proceeds looking for new sources of increase of the Company’s capitalization, boosting the efficiency of the investment program and its operations. This will inevitably relate to the operations of the central administrative office – we have set a goal to cut its staff size by 20% relative to the level of 01.01.2016.

Finance
2016, April, 24, 12:55:00

RUSSIA CUTS PRICE

“With this rule, the Russian government is trying to break the vicious dependence of the economy on oil via the ruble. What’s changing is that the Russian government is signaling to the market participants that the ruble will be more predictable to spur investments into the economy.”

Finance
2016, April, 24, 12:40:00

OIL MAJORS: THE WORST

The impact of weaker prices is being compounded by lower profits from refining, a business that has been bailing out oil majors over the past couple of years. Global refining margins dropped to $10.50 a barrel in the first quarter, 31 percent lower than a year earlier and 20 percent lower than the preceding quarter.

Finance
2016, April, 24, 12:30:00

SCHLUMBERGER CUTS 2,000 JOBS

Since November 2014, when the oil bust started to take hold of the energy industry, Schlumberger has cut 36,000 jobs, or 28% of its workforce.

Finance
2016, April, 24, 12:25:00

HALLIBURTON CUTS 6,000 JOBS

The company revenue in the first quarter fell to $4.2 billion, a 40 per cent decline from the first quarter of 2015. That’s in line with the average analyst estimate of $4.2 billion.

Finance
2016, April, 17, 19:25:00

GLOBAL DEFAULT $50 BLN

“The one hope is that earnings bounce back and company cash flows [improve],” Mr Caprio added. “If that doesn’t happen, [companies] will have debt to pay off and it is unclear how they’ll pay it.”

Finance
2016, April, 15, 21:30:00

RUSSIA SAVES BP

“We remain committed to our strategic investment in Rosneft,” Scott Dean, a company spokesman, said by e-mail, adding that BP complies with all relevant European and U.S. sanctions. “In the low oil-price environment, Rosneft continues to deliver solid operational and financial performance, demonstrating the resilience of its business model.”

Finance
2016, April, 15, 21:15:00

U.S. LOSSES

Lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are setting aside more money to cover potential loan losses after crude prices fell 61 percent in less than two years.

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