Gas
![Gas](/cache/2016/02/EUROPE-15.460f1019.jpg)
2016, February, 16, 19:12:00
EUROPE HAS A MULTIPLICITY
The first was that Europe has a multiplicity of suppliers and that, in terms of gas at least, its energy security is good; the second is that Statoil does not pursue a market share policy but instead focuses on the need for a predictable market environment to enable it to maintain current levels of piped gas deliveries to Europe for the next 20 years or so.
![Gas](/cache/2016/02/BP-40.791e5c85.jpg)
2016, February, 14, 13:25:00
BP ENERGY OUTLOOK 2016 - 2035
Global energy demand between 2014 and 2035 is expected to rise 34%, an average of 1.4%/year, with fossil fuels remaining the dominant form of energy over the period.
![Gas](/cache/2016/02/USA-261.bc818ca9.jpg)
2016, February, 14, 13:10:00
U.S. INVESTMENT DOWN 35%
Mining and exploration investment declined 35% in 2015, the second largest year-over-year decline since the U.S. Bureau of Economic Analysis (BEA) began reporting the series in 1948.
![Gas](/cache/2016/02/OMAN-2.af08336d.jpg)
2016, February, 14, 13:05:00
BP & OMAN AGREEMENT
BP and Oman Oil today signed a heads of agreement with the Government of the Sultanate of Oman committing to amend the Oman Block 61 exploration and production sharing agreement (EPSA), extending the licence area of the block and enabling a further development of the major Khazzan tight gas field. BP is the operator of Block 61 with a 60% interest and Oman Oil holds the other 40%.
![Gas](/cache/2016/02/USA-257.2924d66b.jpg)
2016, February, 14, 13:00:00
U.S. RIGS DOWN 30
U.S. Rig Count is down 30 rigs from last week to 541, with oil rigs down 28 to 439, and gas rigs down 2 to 102.
Canadian Rig Count is down 20 rigs from last week to 222, with oil rigs down 13 to 118, and gas rigs down 7 to 104.
![Gas](/cache/2016/02/RUSSIA-53.7f93d46f.jpg)
2016, February, 11, 19:05:00
RUSSIA DEFENDS MARKETS
“We are working on preserving our traditional markets and we will supply those markets with oil in a competitive battle,” Igor Sechin, Rosneft chief executive officer said in London today.
![Gas](/cache/2016/02/OIL-201.2f4d7c8c.jpg)
2016, February, 11, 18:45:00
MUST TO CUT $24 BLN
North American oil and natural gas drillers will need to cut an additional 30 percent from their capital budgets to balance their spending with the cash coming in their doors even if crude rises to $40 a barrel, according to an analysis by IHS Inc.A group of 44 North American exploration and production companies are planning to spend $78 billion on capital projects this year, down from $101 billion last year.
![Gas](/cache/2016/02/BRITAIN-3.93eb32e7.jpg)
2016, February, 9, 18:30:00
TOTAL STARTS GAS PROJECT
French oil company Total SA said Monday that a deep-water natural-gas project west of the Shetland Islands called Laggan Tormore will produce the equivalent of 90,000 barrels of oil a day—almost 6% of the U.K.’s total output.
![Gas](/cache/2016/02/IRAN-41.a9999b70.jpg)
2016, February, 9, 18:25:00
JAPAN - IRAN INVESTMENT
Possible Japanese investment in Iran could include petroleum, natural gas resource developments, refinery upgrades, petrochemical plants and distribution systems, according to industry sources.
![Gas](/cache/2016/02/GAZPROM-45.e4e78029.jpg)
2016, February, 4, 19:20:00
GAS PRICE WAR
Such a strategy may be economically rational for Gazprom: already-low prices in the European gas market mean it could relatively easily push prices to a level at which it would be unprofitable to ship LNG from the US — and in doing so defend its market share in a region which accounts for the bulk of its profits.
![Gas](/cache/2016/02/PDVSA-2.cf6dc9e7.jpg)
2016, February, 4, 19:05:00
ROSNEFT & PDVSA COOPERATION
Efficient joint efforts in the assets’ management enabled to reach remarkable increase of hydrocarbon production volumes both at brownfields and greenfields. Well-elaborated investment strategy provides favorable financial outcome from joint projects despite the challenging macroeconomic environment.
![Gas](/cache/2016/02/EXXON-16.3477160d.jpg)
2016, February, 4, 19:00:00
EXXON NET INCOME DOWN 50%
Full Year 2015 Highlights:
• Earnings of $16.2 billion decreased 50 percent from $32.5 billion in 2014.
• Earnings per share, assuming dilution, decreased 49 percent to $3.85.
• Capital and exploration expenditures were $31.1 billion, down 19 percent from 2014. The company anticipates further reductions in 2016, with capital and exploration expenditures of $23.2 billion, a decrease of 25 percent from 2015.
• Oil-equivalent production increased 3.2 percent from 2014, with liquids up 11 percent and natural gas down 5.7 percent.
• Cash flow from operations and asset sales was $32.7 billion, including proceeds associated with asset sales of $2.4 billion.
• The corporation distributed $15.1 billion to shareholders in 2015 through dividends and share purchases to reduce shares outstanding.
![Gas](/cache/2016/02/VARCO-8.1781bd67.jpg)
2016, February, 4, 18:55:00
NOV VARCO NET LOSS $769 MLN
Feb. 3, 2016-- National Oilwell Varco, Inc. (NYSE:NOV) today reported fourth quarter 2015 net income of $85 million, or $0.23 per fully diluted share, excluding other items, down from $0.61 in the third quarter of 2015 on a comparable basis. Other items included pre-tax charges of $1,634 million for goodwill and other intangible asset write-downs, $139 million for restructuring and other charges (which included inventory write-downs, severance and facility closure costs, and other costs), and $7 million in FX losses due to a currency devaluation in Argentina. GAAP net loss for the quarter was $1,523 million, or $4.06 per fully diluted share.
![Gas](/cache/2016/02/SPAIN-2.0eda4f2a.jpg)
2016, February, 4, 18:45:00
SPANISH GAS: €1.5 BLN
Spanish gas utility company Gas Natural Fenosa has recorded a net profit of €1.502bn for 2015, an increase of 2.7%, the company said in a press release on February 3. Total earnings before tax, interest, depreciation and amortisation (Ebitda) for 2015 is recorded at €5.376bn, exceeding a target of €5bn set out in Gas Natural Fenosa's 2013-2015 strategic plan.
![Gas](/cache/2016/01/CHEVRON-6.c7df7764.jpg)
2016, February, 2, 19:15:00
CHEVRON NET LOSS $588 MLN
Chevron Corporation (NYSE: CVX) reported a loss of $588 million ($0.31 per share – diluted) for fourth quarter 2015, compared with earnings of $3.5 billion ($1.85 per share – diluted) in the 2014 fourth quarter. Foreign currency effects increased earnings in the 2015 quarter by $46 million, compared with an increase of $432 million a year earlier.