August 2016

“The Alaska LNG project is one of the least competitive on a cost of supply basis compared with other”

Profit attributable to the owners of PJSC Gazprom for the six months ended June 30, 2016 totaled RUB 607,160 million which is RUB 68,744 million, or 10% less than for the same period of the prior year.

Russia's No.2 oil producer Lukoil (LKOH.MM) second-quarter net profit dipped 2 percent, as a weaker rouble helped offset a 30 percent fall in crude prices that has gouged the earnings of many of its peers.

“America’s growth in natural gas production means that through LNG exports we can give our allies stability and security in the global natural gas market. America’s shale revolution is growing our economy, spurring environmental improvements and strengthening our own energy security. U.S. LNG will give our allies an opportunity to achieve those some goals.”

U.S. Rig Count is down 388 rigs from last year's count of 877, with oil rigs down 269, gas rigs down 121, and miscellaneous rigs up 2. Canadian Rig Count is down 50 rigs from last year's count of 196, with oil rigs down 4, and gas rigs down 46.

Light, sweet crude for October delivery settled up 56 cents, or 1.2%, to $47.33 a barrel on the New York Mercantile Exchange, its ninth winning session in the past 11. Brent, the global benchmark, gained 62 cents, or 1.3%, to $49.67 a barrel.

The sector, which accounts for 20 percent of the Nordic country's economy, has been slashing jobs, costs and projects to cope with a 60 percent fall in oil prices since June 2014.

China National Offshore Oil Corp. Ltd. posted a net loss of ¥7.74 billion for the first 6 months of 2016 against a profit of ¥14.73 billion a year earlier.

Bulgaria’s prime minister Boyko Borisov proposed the gas hub, to be built near the city of Varna, days after Russia scrapped the Gazprom-led South Stream pipeline project over objections from the EC, suggesting a different idea of what a hub is from the conventional, virtual trading point such as the Dutch title transfer facility.

International benchmark Brent crude oil futures LCOc1 were trading down 10 cents at $48.85 per barrel at 0709 GMT, having closed down 1.8 percent the previous day. U.S. West Texas Intermediate (WTI) crude futures were at $46.73 a barrel, down 4 cents, after dropping 2.8 percent on Wednesday.