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November 2016

November 2016
2016, November, 28, 18:45:00
LIBYA WON'T CUT
"Libya is in such a dangerous economic situation, there is no way it can participate in OPEC production cuts for the foreseeable future," NOC Chairman Mustafa Sanalla told delegates at the Arab-Austrian Economic Forum in Vienna on Friday, according to an NOC statement.
November 2016
2016, November, 28, 18:40:00
NIGERIAN OIL CRISIS
“Security and access to funding are the biggest challenges right now to private sector players,” says Kola Karim, managing director of domestic producer Shoreline Energy. “The situation is really tough.”
November 2016
2016, November, 28, 18:35:00
NOVATEK EXPECTS JAPAN
Novatek is planning a new large-scale project known as Arctic LNG 2, which targets annual production of 12 million to 16 million tons of LNG, with operations aimed to start by 2025. Mikhelson expressed a desire to see Japan be a cooperative partner at every step of the plan, from gas production to liquefaction plant construction and management, all the way to sales. It was also made clear that should Japanese enterprises cooperate, the country could expect a portion of the output.
November 2016
2016, November, 28, 18:30:00
BP BUYS 10%
BP announced that it has agreed to buy from Eni a 10% interest in the Shorouk concession offshore Egypt, which contains the super-giant Zohr gas field, for $375 million.
November 2016
2016, November, 24, 18:45:00
OIL PRICES: ABOUT $49 ANEW
At 1040 GMT (5:40 a.m. ET), Brent crude futures LCOc1 were trading at $48.89, down 6 cents from their close. U.S. West Texas Intermediate (WTI) crude CLc1 was down 2 cents at $47.94 per barrel.
November 2016
2016, November, 24, 18:40:00
ГЛОБАЛЬНОЕ ОБОСТРЕНИЕ КОНКУРЕНЦИИ
В качестве главных вызовов для энергетики Министр назвал глобальное снижение цен на углеводороды, технологические прорывы, глобализацию рынков и обострение конкуренции, рост вмешательства в рыночный механизм со стороны государства, замедление темпов роста потребления топливно-энергетических ресурсов.
November 2016
2016, November, 24, 18:35:00
RUSSIA CAN CUT 300 TBD
"According to our plans, (Russian) oil output is going up next year. If we keep production at the current level we are making our contribution, for us that essentially means a cut of 200,000-300,000 barrels per day (in 2017)", he told journalists.
November 2016
2016, November, 24, 18:30:00
U.S. RIGS UP 5
U.S. Rig Count is down 151 rigs from last year's count of 744, with oil rigs down 81, gas rigs down 71, and miscellaneous rigs up 1. Canadian Rig Count is down 10 rigs from last year's count of 184, with oil rigs up 13, gas rigs down 25, and miscellaneous rigs up 2.
November 2016
2016, November, 23, 18:40:00
PERGAS INVESTMENT TO IRAN
Managing Director of Pergas Consortium Colin Rowley says his consortium is ready to invest in Iranian petroleum industry, train workforce and transfer technology.
November 2016
2016, November, 23, 18:35:00
IMF WANTS PEMEX
A particularly important aspect of this consolidation pertains to reforms in PEMEX, the state-owned oil company. Earlier this month, PEMEX released a five-year business plan that aims at turning the company profitable by 2020, through efficiency improvements and a focus on high-return activities.