SOUTH STREAM CONTINUES
The South Stream project is continuing as planned, an official of the Russian Energy Ministry's pool and gas department said on Monday as reported by Sputnik.
"The work continues as planned, the prospects for the pipeline are not bad, we have agreements with the Serbs, and several other countries," Alexander Gladkov was reported as saying.
Gladkov underlined that many transit countries already renewed their support to the pipeline.
"Note that Bulgaria is not against this pipeline, it simply wants us to agree it with the EU," Markov stressed.
Recently, Serbian Foreign Minister Ivica Dacic and his Hungarian counterpart Peter Szijjarto released a joint comment, saying that Europe has a common interest in building the South Stream gas pipeline.
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GAZPROM - The parties discussed relevant issues related to bilateral cooperation, including the Baltic LNG project. Emphasis was placed on the priority measures aimed at developing a joint design concept (pre-FEED).
BHGE - U.S. Rig Count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68.
REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.
EIA - Brent crude oil spot prices averaged $79 per barrel (b) in September, up $6/b from August. EIA expects Brent spot prices will average $74/b in 2018 and $75/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.