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2015-05-27 18:30:00

SAUDI PRICE WAR

SAUDI PRICE WAR

Crude oil prices are still about half their value compared with a year ago, but the now prolonged slump is unfolding such that another rise could be on the horizon, a panel of industry observers agreed on May 20 during the XXIV La Jolla Energy Conference in La Jolla, Calif.

The panel's most bullish outlook came from Peter Tertzakian, chief energy economist and managing director at Calgary-based, energy-focused private equity manager ARC Financial Corp., who believes there may be an eventual "rapid escalation of prices" if there's a continuation of the current "price war," which he sees lasting at least another 9 months.

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Tags: SAUDI, US, OIL, PRICE,
Chronicle:
SAUDI PRICE WAR
2019, July, 12, 07:50:00
SAUDI ARAMCO, MCDERMOTT CONTRACT $4.5 BLN
McDermott has won two engineering, procurement, construction and installation (EPCI) contracts from Saudi Aramco worth more than $4.5bn for the Marjan Increment Programme.
SAUDI PRICE WAR
2019, July, 12, 07:45:00
SAUDI ARAMCO, SAIPEM CONTRACT $3.5 BLN
As part of its larger increment programmes for Marjan and Berri, Saudi Aramco has awarded Saipem two EPCI contracts worth more than $3.5bn.
SAUDI PRICE WAR
2019, July, 12, 07:40:00
LNG PRICE: NEAR $4.5
Spot prices for August delivery to Northeast Asia are estimated to be about $4.40 per million British thermal units (mmBtu), up 10 cents from last week, trade sources said.
SAUDI PRICE WAR
2019, July, 10, 12:55:00
OIL PRICE: NEAR $65 AGAIN
WTI had climbed 93 cents, or 1.6%, to $58.76, having earlier risen to $58.84. Brent was up 70 cents, or 1.1%, at $64.86, after earlier touching $64.95.
SAUDI PRICE WAR
2019, July, 10, 12:50:00
OIL PRICES 2019-20: $67 ANEW
The Energy Information Administration (EIA) forecasts Brent spot prices will average $67/b in the second half of 2019 and remain at that level in 2020. EIA expects West Texas Intermediate (WTI) crude oil prices will average $62/b in the second half of 2019 and $63/b in 2020.
SAUDI PRICE WAR
2019, July, 10, 12:45:00
IRREVERSIBLE CLIMATE CHANGE
“The clock is ticking on irreversible climate change,” Adam Matthews, co-chair of the Transition Pathway Initiative (TPI) and the director of ethics and engagement at the Church of England Pensions Board, said in a statement.
SAUDI PRICE WAR
2019, July, 10, 12:40:00
CHEVRON, QATAR DEAL $8 BLN
Chevron Phillips Chemical, a joint venture of Chevron and Phillips 66, will be the majority owner with a 51 percent share, with Qatar Petroleum owning 49 percent of the project. The companies expect a final investment decision no later than 2021 for the project, which has a target of starting in 2024.
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