PLATTS - The Southern Gas Corridor has received a waiver from US sanctions against Iran's energy customers, an expected win for the project, designed to transport 16 Bcm/year of Caspian natural gas to Turkey and southern Europe while bypassing Russia.
NOVATEK - PAO NOVATEK announced that Yamal LNG has launched the second LNG train and dispatched the first cargo from this unit. The second LNG train commissioned six months ahead of its original schedule, and combined with the first LNG train launch in December 2017, has achieved the commissioning of the first two LNG trains in record time.
EIA - Brent crude oil spot prices averaged $74 per barrel (b) in July, largely unchanged from the average in June. EIA expects Brent spot prices will average $72/b in 2018 and $71/b in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $6/b lower than Brent prices in 2018 and in 2019.
REUTERS - The LNG market will require over 200 million tonnes per year of new supply through to 2030, or roughly 25-30 mtpa per year in new capacity additions to 2025
ROSNEFT - 2Q 2018 net income attributable to Rosneft shareholders jumped by 2.8 times QoQ and reached RUB 228 bln (USD 3.6 bln) on the back of operating income growth, FX impact and one-off gain from recognizing net income from the share acquisition in upstream JV with a foreign partner and recognition of fair value of previously held interest in JV.
ROSNEFT - In line with strategic initiatives announced by Rosneft on April 25, 2018, the Board of Directors of Rosneft Oil Company approved the terms and launch of the open market share buyback program, which would also cover the holders of depositary receipts, in the amount of up to US$2bn (the "Program").
PETROBRAS - Petrobras reported net income of R$ 17 billion in the first half of 2018. The positive result was mainly influenced by the increase in international oil prices, associated with the depreciation of the Brazilian Real against the US dollar. In the same period, net debt fell 13% compared to December 2017, to US$ 73.66 billion.
API - “China’s retaliation will hit America’s energy industry particularly hard,” said API Vice President for Regulatory and Economic Policy Kyle Isakower. “American natural gas and oil companies already hit by U.S. tariffs on industrial products and specialty steel essential to our industry will now be faced with Chinese tariffs on critical U.S. exports, impacting American jobs that rely directly and indirectly on the energy industry.
PLATTS - China rattled investors in the US LNG export sector when it said Friday it may impose 25% tariffs on American cargoes if President Donald Trump follows through on his threat to escalate the trade dispute with Beijing that he initiated.
SHANA - The CEO of Pars Oil and Gas Company (POGC) said Iran's natural gas production from the supergiant South Pars Gas Field will increase by 100 million cubic meters by the end of the current calendar year to Mach 2019.
NGW - Commercial conditions for the Southern Corridor’s success have deteriorated as political support for it has grown. Up to 2030, the corridor will most likely remain an insubstantial contributor to Europe’s gas balance.
REUTERS - The bill includes restrictions on new Russian sovereign debt transactions, energy and oil projects and Russian uranium imports, and new sanctions on Russian political figures and oligarchs.
МИНЭНЕРГО РОССИИ - «Страны БРИКС являются одними из самых крупнейших экспортеров, производителей энергоресурсов и потребителей. На долю стран БРИКС приходится почти 40% общемирового потребления энергоресурсов», - отметил замминистра.
NOBLE - Noble Corporation plc (NYSE: NE, the Company) reported a net loss attributable to the Company for the three months ended June 30, 2018 of $628 million, or $2.55 per diluted share, on revenues of $258 million. The results included a non-cash charge totaling $793 million, or $2.06 per diluted share, ($507 million, net of tax and noncontrolling interests) relating to the impairment of three rigs and certain capital spares. Excluding the non-cash charge, the Company's net loss attributable to Noble Corporation for the three months ended June 30, 2018 would have been $121 million, or $0.49 per diluted share.
U.S. EIA - U.S. energy expenditures declined for the fifth consecutive year, reaching $1.0 trillion in 2016, a 9% decrease in real terms from 2015. Adjusted for inflation, total energy expenditures in 2016 were the lowest since 2003. Expressed as a percent of gross domestic product (GDP), total energy expenditures were 5.6% in 2016, the lowest since at least 1970.