IRAN NEED MONEY
Executives from Royal Dutch Shell and Eni have met Iranian officials in Tehran to discuss investing in the country's energy industry, the first time international oil groups have publicly confirmed such talks ahead of a possible nuclear deal with the west.
The meetings, which took place in May and June, are evidence of the growing interest among big oil companies in Iran, which boasts the world's third-largest oil and gas reserves but which will need tens of billions of dollars of foreign investment to realise its ambitions to nearly double production by the end of the decade.
A Shell spokesman told the Financial…
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.