SANCTIONS: BP UNAFFECTED
Sanctions imposed on the chief executive of Rosneft (ROSN.MM) over the Ukraine crisis have not impacted BP's (BP.L) business with the Russian oil producer, Interfax news agency quoted BP chief executive Bob Dudley as saying on Saturday.
Reiterating that BP stands by its Russian investments, Dudley said the sanctions related to Rosneft CEO Igor Sechin's private matters.
"I am able to meet with him to solve issues related to the Rosneft oil company," Dudley was quoted as saying in a Russian-language report by Interfax. But he added: "It does not affect our cooperation with the company itself."
BP holds a 19.75 percent stake in Rosneft.
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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.