2016

Iraq reaped $3.744 billion from oil exports in July, Oil Ministry spokesman Asim Jihad said in a statement. He said average production for the month was over 3.202 million bpd.

The Bangka project, majority owned by Chevron, will start operation in August, Wiratmaja Puja, the director general of oil and gas at Indonesia's Energy Ministry, told Reuters in an interview. Italian oil firm Eni's Jangkrik project is 80 percent complete and is expected to commence operation in July 2017, he said.

Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and U.S. firm Anadarko have dragged on for years due to disputes over terms and concerns about falling energy prices.

Low oil prices are expected to have a negative effect on the US LNG export industry. LNG export markets are tied to oil indexing. With crude oil prices decreasing by 50% over the past year and a half, the US Henry Hub market is losing its price advantage. This scenario not only minimizes projected LNG export revenues, but it also makes financing capital-intensive LNG facilities more difficult.

Exxon Mobil Corporation announced estimated second quarter 2016 earnings of $1.7 billion, or $0.41 per diluted share, compared with $4.2 billion a year earlier. The results reflect sharply lower commodity prices, weaker refining margins and continued strength in the Chemical segment.

Chevron Corporation (NYSE: CVX) reported a loss of $1.5 billion ($0.78 per share – diluted) for second quarter 2016, compared with earnings of $571 million ($0.30 per share – diluted) in the second quarter of 2015. Included in the quarter were impairments and other non-cash charges totaling $2.8 billion, partially offset by gains on asset sales of $420 million. Foreign currency effects increased earnings in the 2016 second quarter by $279 million, compared with a decrease of $251 million a year earlier. Sales and other operating revenues in second quarter 2016 were $28 billion, compared to $37 billion in the year-ago period.

U.S. Rig Count is up 1 rig from last week to 463, with oil rigs up 3 to 374, gas rigs down 2 to 86, and miscellaneous rigs unchanged at 3. Canadian Rig Count is up 17 rigs from last week to 119, with oil rigs up 12 to 60, gas rigs up 5 to 58, and miscellaneous rigs unchanged at 1.

Средняя цена нефти марки Urals по итогам января - июля 2016 года составила $38,68 за баррель.

With the oil market entering a new normal of lower prices, the price per barrel is projected to settle in the range of $53 to $60 by 2020, when supply and demand are expected to be in balance.

Российский Министр отметил, что Турция заинтересована в том, чтобы газ поступал напрямую, минуя другие транзитные страны. «Для этого в «Турецком потоке» предусмотрена одна нитка мощностью 15,75 млрд кубических метров газа. Мы ведем сейчас речь о строительстве двух ниток, вторая из которых будет предназначена для европейских потребителей и может быть проложена по дну Черного моря и через территорию Турции», - пояснил Александр Новак.