September 2016

Oil traders have closely watched the situation in Libya, where production now stands at about 300,000 barrels a day—a level that Libyan officials say they could quickly ramp up again if oil ports remained open and secure for an extended period.

President Chakrabarti welcomed Bulgaria’s recent actions to strengthen the stability of its financial sector and promote the liberalisation of the energy market. He reconfirmed the EBRD’s commitment to support these reforms with investment and technical advice.

“We see 2017-2020 as still having the potential for much higher prices. After 2020, there is a high risk that electric vehicle penetration will change the oil market forever.”

Фьючерсы на нефть Brent торговались на уровне $46,38 за баррель к 9.10 МСК, опустившись на 21 цент, или 0,45 процента, с предыдущего закрытия. Фьючерсы на нефть WTI упали на 26 центов, составив $43,66, снизившись на 0,57 процента с предыдущего закрытия.

Поставки «Газпромом» российского газа во Францию с 1 января по 13 сентября 2016 года составили 8 млрд куб. м — на 27,3% больше, чем за аналогичный период 2015 года.

Executive Directors welcomed the steps the authorities have taken to adjust to the decline in oil prices and weaker growth in trading partners. However, they noted that the difficult external environment could hamper macroeconomic outcomes in the near term. While Azerbaijan’s policy buffers remain substantial, the balance of payments, fiscal position, and banking system would likely remain under pressure as the economy continues to adjust. Accordingly, Directors stressed the need to press ahead with reforms to secure macroeconomic and financial stability and promote a diversified and private sector-led economy.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $43.72 a barrel at 0145 GMT, up $0.14 in the Globex electronic session. November Brent crude on London's ICE Futures exchange rose $0.27 to $46.12 a barrel.

The collapse of oil prices has forced Canadian and global producers to slash costs and curtail investment over the past two years. Even after a rebound from a 12-year low earlier this year, oil futures in New York are still about 60 percent down from their 2014 peak. Prices have been mostly stuck in the $40-$50 range for the past four months.

Vankorneft is the operating company of the Vankor oil and gas condensate field and the North Vankor licence, in East Siberia, Russia. This acquisition will increase ONGC Videsh’s stake in the company to 26%. The company had previously acquired 15% in the project in May this year for USD 1.27 billion. The new transaction is expected to close by the end of the year.

The governments of Argentina and the UK have agreed to work toward removal of restrictions on oil and gas work offshore the Falkland Islands.