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August 2015

August 2015
2015, August, 20, 19:45:00

CHEVRON CUTTING 2,100

Last month, the oil giant revealed it would cut about 950 jobs in Houston, plus 500 jobs at its San Ramon headquarters, 50 international jobs and 600 contractor jobs.

August 2015
2015, August, 18, 21:00:00

CHINA TO BUILD ISLANDS

Despite all denials coming from the Chinese officials in recent months, China is reportedly planning to build gigantic floating islands in the disputed South China Sea. This unchecked ambition of Chinese leaders will surely tip this already heated-up Asian sub-region into what experts called “land-grabbing tussle”, a situation that might be escalated into civil wars among China and countries like the Philippines, Malaysia, Vietnam, Brunei, Cambodia and Indonesia that also lay claim to some parts of these islands.

August 2015
2015, August, 18, 20:55:00

SHELL WILL DRILL ARCTIC

The Obama administration granted Royal Dutch Shell final clearance on Monday to resume drilling for oil and gas in the environmentally fragile Arctic Ocean for the first time since 2012, a move green groups vowed to fight.

August 2015
2015, August, 18, 20:50:00

ACCENTURE BUYS SCHLUMBERGER

Accenture (NYSE: ACN) has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of Schlumberger, a global leader in oilfield services.

August 2015
2015, August, 18, 20:45:00

РОСНЕФТЬ ПОКУПАЕТ MULTI-FRACKING

Общество группы «Роснефть» подписала с дочерним предприятием Trican Well Service Ltd. рамочный договор и сопутствующие соглашения о приобретении обществом группы «Роснефть» 100% долей ООО «Трайкан Велл Сервис», оказывающего в России услуги по использованию высокотехнологичных систем закачки с целью повышения нефтеотдачи пластов при разработке традиционных запасов нефти и газа.

August 2015
2015, August, 16, 21:00:00

OPEC OIL UP 120,000

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.4 million barrels per day (b/d) in July, up 120,000 b/d from the June level of 31.28 million b/d,

August 2015
2015, August, 16, 20:55:00

US RIGS: 0

U.S. Rig Count is unchanged from last week at 884, with oil rigs up 2 to 672, gas rigs down 2 to 211, and miscellaneous rigs unchanged at 1.

August 2015
2015, August, 16, 20:50:00

ROSNEFT NEEDS SUPPORT

India’s Oil & Natural Gas Corp.(ONGC) is reportedly negotiating with Russia’s Rosneft to purchase a share of the Vankor oil field in East Siberia, indicating that the increase in production wanted by the Russian company could come hand in hand with stronger ties with foreign companies.

August 2015
2015, August, 14, 18:30:00

SAUDI OIL STRATEGY

Plunging oil prices have substantially reduced Saudi revenues. With Brent prices averaging roughly $100 per barrel in 2014, Saudi oil exports of 6.31 million barrels per day would have generated roughly $631 million in revenues daily. In the first quarter, with Brent prices averaging $53.92, the same output would have generated roughly $340 million daily, $291 million less per day than oil at $100 per barrel.

August 2015
2015, August, 14, 18:25:00

PRICES: THE FASTEST GROWTH

Global oil demand in 2015 is expected to grow by 1.6 mb/d, up 0.2 mb/d from our previous Report and the fastest pace in five years, as economic growth solidifies and consumers respond to lower oil prices. Persistent macro-economic strength supports above-trend growth of 1.4 mb/d in 2016.