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2014-03-25 07:04:00

WEATHERFORD CUTTING VENEZUELA

WEATHERFORD  CUTTING  VENEZUELA

SA. Weatherford (WFT +0.5%) says the "serious liquidity situation" in Venezuela is causing it to reduce its operations in the country, and it expects its Russian business to grow this year.WFT provides drilling and exploration services to Venezuela's national oil company but the country's currency devaluation and economic instability have caused payment delays.WFT foresees a "very constructive year" in Russia, CEO Bernard Duroc-Danner says, without discussing how the ongoing tension between Russia and Ukraine could affect the company's business.Says its Q1 has been negatively impacted by bad weather in Texas and the northeast U.S.

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Tags: WEATHERFORD, VENEZUELA
Chronicle:
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 18, 17:15:00
U.S. INDUSTRIAL PRODUCTION UP 0.4%
Industrial production rose 0.4 percent in May after falling 0.4 percent in April. The indexes for manufacturing and mining gained 0.2 percent and 0.1 percent, respectively, in May; the index for utilities climbed 2.1 percent. At 109.6 percent of its 2012 average, total industrial production was 2.0 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector moved up 0.2 percentage point in May to 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2018) average.
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 13:25:00
OIL PRICE: ABOVE $61 ANEW
Brent futures fell 25 cents, or 0.4%, to $61.76 a barrel by 0750 GMT, having gained 1.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.4%, at $52.29, having firmed by 0.4% in the previous session.
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 12:55:00
OIL DEMAND GROWTH 1.2 - 1.4 MBD
The OECD sees global GDP growth rebounding to 3.4% in 2020, assuming that trade disputes are resolved and confidence rebuilds. This suggests that global oil demand growth will have scope to recover from 1.2 mb/d in 2019 to 1.4 mb/d in 2020.
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 12:50:00
ENERGY NEED INVESTMENT
At the G20 Ministerial Meeting, which saw ministers of energy and environment meet in Japan, Saudi Arabia's Energy Minister Khalid Al-Falih said that strategic investments should be made to ensure the future energy mix is optimal, including conventional energy sources as well as new sources of energy, to ensure that the supply of energy is abundant, affordable, accessible and sustainable.
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 12:45:00
ENERGY SECURITY COOPERATION
"Today about 18 million barrels of oil on a daily basis flows through this choke point coming from Saudi Arabia, emirates and other countries to China, Japan, India and other Asian customers." "But at the same time it is a major route for LNG, liquefied natural gas. About 30% of LNG goes through this strait, coming again to Japan, South Korea, and other Asian countries."
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 12:40:00
AUSTRALIA'S LNG FOR CHINA
Australia supplied over 53% of China’s LNG imports during the first five months of 2019, shipping data in Refinitiv showed, up from around 40% in 2016 when a previous round of new Australian export projects started to ramp up.
WEATHERFORD  CUTTING  VENEZUELA
2019, June, 17, 12:35:00
COAL FOR JAPAN
Japan imported more than 210 million short tons (MMst) of coal in 2018, making it the world’s third-largest coal-importing country after only India and China. Japan continues to use steam coal to fuel one-third of its electricity generation and metallurgical coal for raw steel production.
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