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October 2014

October 2014
2014, October, 15, 22:15:00

SAUDI: GLOBAL PRICE WAR

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

October 2014
2014, October, 15, 22:10:00

RUSSIA: PIPELINE TO JAPAN

Russia has proposed to Tokyo building a natural gas pipeline connecting fields in its far east with northern Japan, the Nikkei newspaper reported on Wednesday.

October 2014
2014, October, 14, 20:50:00

IEA: OCTOBER OIL MARKET REPORT

The IEA Oil Market Report (OMR) for October reduced its forecast of global oil demand for 2014 by 0.2 million barrels per day (mb/d) from the previous month, to 92.4 mb/d, on lower expectations of economic growth and the weak recent trend. Annual demand growth for 2014 is now projected at 0.7 mb/d, rising tentatively to 1.1 mb/d in 2015 as the macroeconomic backdrop improves.

October 2014
2014, October, 14, 20:48:00

KUWAIT & SAUDI WON’T REDUCE: $76/BBL

Two of OPEC’s biggest members say they won’t immediately reduce oil production to offset tumbling prices, a signal the group is unlikely to heed Venezuelan calls for an emergency meeting.

October 2014
2014, October, 14, 20:45:00

IEA: ENERGY IS A KEY

Increasing access to modern forms of energy is crucial to unlocking faster economic and social development in sub‑Saharan Africa, according to the International Energy Agency’s (IEA) Africa Energy Outlook, a Special Report in the 2014 World Energy Outlook series.

October 2014
2014, October, 14, 20:40:00

FOUR LESSONS FOR EU

Diversification of gas supply has been a strategic priority for the European Union since its dependence on imports began to grow in the early 2000s.

October 2014
2014, October, 14, 20:35:00

RUSSIA & CHINA: STRONG TIES

Russia seeks an acceleration of its business ties with China. Russian Prime Minister Dmitry Medvedev suggested on Monday that the two countries could soon reach an agreement on a second pipeline.

October 2014
2014, October, 14, 20:30:00

EVEN STRONGER

Rosneft and Chinese National Petroleum Corporation (CNPC) signed an agreement for the extensions of strategic cooperation.

October 2014
2014, October, 14, 20:25:00

NINE TIMES MORE

Rospan International (Rosneft subsidiary) carried out a record hydrofracturing at the Urengoiskoe field, which resulted in the 9 times increase of production rate.

October 2014
2014, October, 14, 20:20:00

ROSNEFT HIRES ZAIWALLA

Russian oil giant OAO Rosneft is devising a legal strategy to fight Western sanctions in European courts, according to people familiar with the strategy—a tactic modeled on the so-far successful legal campaign waged by Iran’s Bank Mellat.