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June 2016

June 2016
2016, June, 14, 18:15:00
VENEZUELAN OIL DOWN
The decline of 120,000 barrels a day, to 2.37 million barrels a day, underscores the inability of state energy company Petróleos de Venezuela SA to maintain oil-industry investments, as the region’s largest petroleum exporter suffers from a debilitating cash crunch, widespread food shortages and civil unrest.
June 2016
2016, June, 14, 18:10:00
NORWEGIAN OIL & GAS DOWN BY $50 BLN
Last year, Norway’s derived half of its oil and gas revenue from production taxes, 43% from the government’s direct ownership in oil and gas assets, and 7% from dividends paid by Statoil ASA, in which the government has a 67% stake.
June 2016
2016, June, 14, 18:05:00
IRAN - OMAN GAS PIPELINE
The 400-kilometer pipeline, stretching from Iran to Oman is defined in two onshore and offshore sections. Land part of the gas pipeline extends for 200 kilometers from Rudan to Mobarak Mount in southern Hormozgan province. The seabed section between Iran and Sohar Port in Oman will stretch for another 200 kilometers.
June 2016
2016, June, 14, 18:00:00
THE BIGGEST ASIA'S LNG TERMINAL
Total amount of LNG will be gasified per year from terminal expected 7.2 Million MT Per Year that will make it Asia’s Biggest LNG Terminal.
June 2016
2016, June, 13, 20:30:00
IRAN & SWITZERLAND CONTRACT
The two companies signed the contracts after very difficult negotiations on Saturday evening. Managing Director of Sadaf Petrochemical Assaluyeh Company Ahmad Jazayeri said the Swiss company will help his company to build a plant for production of the synthetic polymer ESBR, a strategic product used in the petrochemical industry and rubber manufacturing.
June 2016
2016, June, 13, 20:25:00
IRAN - PAKISTAN GAS PIPELINE
The pipeline project has been stuck for years now because of sanctions on Iran. Pakistan has not been able to build the pipeline on its soil due to lack of funding. Iran has already built 900 km length of the pipeline on its territory while Pakistan still has to start work on the pipeline that would traverse its territory.
June 2016
2016, June, 13, 20:20:00
OIL PRICE DOWN TO $49.74
Brent crude oil futures LCOc1 fell to $49.74 per barrel, at 1327 GMT, down 80 cents, after trading as low as $49.61.
June 2016
2016, June, 13, 20:15:00
THE NEW FIND OF ENI & BP
The new discovery is 12 km off shore, and 10 km north of last year’s find, Nooros. The well was drilled in water depth of 25 m and reached a total depth of 3,750 m and found about 62 m of net gas pay in high quality Messinian sandstones and with "excellent reservoir properties," according to Eni.
June 2016
2016, June, 13, 20:10:00
IMF SELLS MONEY AGAIN
"Growth is expected to rebound in 2016, supported by exchange rate depreciation and accommodative monetary and fiscal policies, but uncertainty about oil prices, challenges in sustaining the global recovery, and elevated domestic vulnerabilities suggest risks to the outlook are tilted to the downside," the IMF said.
June 2016
2016, June, 13, 20:05:00
OIL MARKET BALANCE
OPEC predicted that the global oil market will be more balanced in the second half of this year as demand rises and rival supplies falter, echoing views expressed by ministers at the group’s meeting this month.