January 2016
![January 2016](/cache/2016/01/SHELL-17.5fce6175.jpg)
2016, January, 31, 11:25:00
SHELL & BG MERGER
The shareholders of both Royal Dutch Shell PLC and BG Group PLC have approved the proposed merger of the two companies, and the deal is set to close on Feb. 15, some 10 months after it was first reported
![January 2016](/cache/2016/01/BAKER-4.eede0cf7.jpg)
2016, January, 31, 11:20:00
BAKER HUGHES: NET LOSS $1.97 BLN
Baker Hughes Fourth Quarter and Annual Results:
- Revenue of $3.4 billion for the quarter and $15.7 billion for the year
- Sequential and year-over-year decremental operating margins for the quarter were 33% and 32%, respectively
- GAAP net loss per share of $2.35 for the quarter, includes $2.14 per share of impairment and restructuring charges and merger-related costs
- Free cash flow up 25% sequentially to $436 million for the quarter, and $1.2 billion for the year
![January 2016](/cache/2016/01/USA-147.94a827a0.jpg)
2016, January, 28, 19:30:00
U.S. GAS: EXPENSIVE
Currently Greece imports gas from Gazprom at a price of between $4.6 and 4.7 /mn Btu, Kitsakos said; from Turkey's Botas at $5.9/mn Btu; and from Algeria's Sonatrach at $6.5/mn Btu. Gas at the Dutch TTF is around $6/mn Btu. However, the price Cheniere will ask for gas is rumoured to be around $7/mn Btu.
![January 2016](/cache/2016/01/USA-148.ba1eb5e3.jpg)
2016, January, 28, 19:25:00
U.S. CUTS OIL INVESTMENTS
Three leading US shale oil producers have announced steep cuts in their planned capital spending, as they set their budgets to respond to the collapse in crude prices.
![January 2016](/cache/2016/01/USA-145.2a32a059.jpg)
2016, January, 28, 19:20:00
U.S. LOSERS: $14 BLN
During the next eight days, independent U.S. oil explorers are expected to report 2015 losses totaling almost $14 billion, the result of the steepest price collapse in a generation.
![January 2016](/cache/2016/01/OIL-187.30d3e011.jpg)
2016, January, 28, 19:15:00
2015: OIL GAS M&A DOWN
The upstream, oil field services, midstream, and downstream businesses during the year collectively saw just 379 M&A deals take place, down from the 709 that occurred in 2014, and 409 and 389 that respectively took place in 2008 and 2009 amid the Great Recession. Total value in 2015 was $286.23 billion, down from $353.97 billion in 2014.
![January 2016](/cache/2016/01/EUROPE-14.63f88ad4.jpg)
2016, January, 28, 19:10:00
EUROPEAN STOCKS ROUT
European stocks deepened a monthly rout as disappointing earnings reports reignited investor concern about global growth prospects and oil prices resumed their downward trend.
![January 2016](/cache/2016/01/UK-8.c2fb69e5.jpg)
2016, January, 28, 19:05:00
BRITISH GAS PRICES DOWN 40%
British wholesale gas prices have fallen over 40 percent in the past year, as mild winter temperatures softened demand amid a sell-off in crude oil markets to which seasonal gas contracts are indirectly linked, and pressure has been mounting on power companies to lower retail prices for households.
![January 2016](/cache/2016/01/CHINA-26.97b0e759.jpg)
2016, January, 28, 19:00:00
CHINA'S DEMAND WILL UP 4.3%
China's oil demand will grow 4.3 percent this year to surpass 11 million barrels per day, compared to 4.8 percent growth last year.
![January 2016](/cache/2016/01/CHINA-31.97a64de8.jpg)
2016, January, 28, 18:55:00
CHINA & CHEVRON GAS
The Chuandongbei Project covers over 800 square kilometers in Sichuan Province and the Chongqing Municipality. Unocal East China Sea, Ltd. holds a 49 percent participating interest as the operator andChina National Petroleum Corporation holds a 51 participating percent interest.