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August 2015

August 2015
2015, August, 9, 18:20:00
THE NEXT OIL WAR - 2
The Kingdom of Saudi Arabia may suffer a financial crisis before winning the economic oil war with the United States if the oil prices remain at its current level. The Kingdom needs the oil price to be around $106 per barrel to maintain its economy.
August 2015
2015, August, 9, 18:15:00
LUKOIL: $1 BLN FOR AZERBAIJAN
Under the second stage of the Production Sharing Agreement of the Shah Deniz Project in Azerbaijan, LUKOIL Overseas Shah Deniz Ltd. (a fully-owned PJSC LUKOIL subsidiary) has signed in Baku a 12 year credit-facility agreement with a consortium of banks to borrow USD 1 billion.
August 2015
2015, August, 7, 19:50:00
USA: BAD & BETTER
The total U.S. trade deficit peaked at $762 billion in 2006, prior to the surge in U.S. oil and natural gas production. By 2014, it had dropped to $508 billion.
August 2015
2015, August, 7, 19:45:00
INDIA & CHINA COMPETITION
The six nations that make up Central Asia hold at least 11% of the world’s proven natural gas reserves, as well as substantial deposits of oil and coal, according to data compiled by BP. Afghanistan says its mineral wealth is valued at $1 trillion to $3 trillion.
August 2015
2015, August, 7, 19:40:00
SHELL & GAZPROM EXCHANGE
“Russia sits on 25% of the world’s gas reserves and is very, very close to markets that we are very familiar with,” Van Beurden said July 30, on the sidelines of the company’s earnings presentation. Shell is also pushing “to see how we can work with Gazprom internationally.”
August 2015
2015, August, 6, 18:30:00
RUSSIAN ARCTIC ENERGY
The Arctic has become a theatre for rival claims over a sea floor believed to be rich in minerals, oil and gas.
August 2015
2015, August, 6, 18:25:00
USA LNG FOR EUROPE
The United States is now the world’s leading producer of natural gas. With LNG exports scheduled to begin within the next six months, America’s oil and gas renaissance will soon provide both substantial domestic and foreign economic benefits. If US LNG can be imported into regions where there is only a single, monopolistic producer, then strategic benefits could accrue as well.
August 2015
2015, August, 6, 18:20:00
IRAN WILL NOT
In the medium term, Iran’s gas will not be able to compete with the Russian gas in the European market.
August 2015
2015, August, 6, 18:15:00
TESCO CORP LOSS $(35.7) MLN
TESCO reported a net loss of $27.5 million, or $(0.71) per diluted share, for the second quarter ended June 30, 2015. Excluding certain special items, consisting of a valuation allowance on Canadian deferred tax assets, restructuring costs, specific warranty reserves for new products, certain foreign currency losses and specific bad debt expense related to an international customer, TESCO reported an adjusted net loss for the quarter of $8.0 million, or $(0.21) per diluted share. This compares to a net loss of $8.3 million, or $(0.21) per diluted share, in the first quarter of 2015, and net income of $12.7 million, or $0.31 per diluted share, for the second quarter of 2014. Adjusted net loss in the first quarter of 2015 was $3.3 million, or $(0.08) per diluted share, and in the second quarter of 2014 was $11.9 million, or $0.29 per diluted share.
August 2015
2015, August, 5, 18:30:00
US OIL DEFAULT
On Aug. 3, US crude prices fell to $45 a barrel. In July, the average price was $60 a barrel. Banks are starting to tighten up their lending standards, further draining liquidity out of the market.