RUSSIAN DEAL NO SANCTIONS
Europe's biggest oil groups are extending business deals with their Russian energy partners despite this month's EU vote to continue imposing sanctions, highlighting how western companies are learning to live with the restrictions placed on Moscow.
BP is close to agreeing a deal to acquire a 20 per cent stake in a Siberian oilfield from state-owned Rosneft that could be worth $700m, people familiar with the matter told the Financial Times, while Eni and Statoil have received approval from European capitals to continue work on their joint ventures with Rosneft. Shell is also still working on its Salym joint venture with Gazprom Neft, the oil arm of the Russian gas giant, and…
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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.