RUSSIAN GAS TO GERMANY: 200 BLN
GAZPROM - the Nord Stream gas pipeline transmitted its 200 billionth cubic meter of gas from Russia to Germany via the Greifswald delivery point.
"The Nord Stream gas pipeline is a high-profile pan-European infrastructure project, a stellar example of mutually beneficial and productive cooperation between Gazprom and its European partners. Today's development is a clear rebuttal to the skeptics. For six years, Nord Stream has consistently exported Russian gas to the European market via the most cost-efficient transit-free route, i.e. across the Baltic Sea. The gas pipeline is operating at full capacity, providing reliable energy supplies to thousands of companies and households in Europe.
Drawing on the success of Nord Stream, Gazprom is implementing a similar project, Nord Stream 2, with the active support of Europe's leading energy companies. In accordance with the plan, the new gas pipeline will be built by the end of 2019. Gazprom is convinced, as are our partners, that the project will further strengthen the reliability of gas supplies for European consumers and foster the development of the region's energy market," said Alexey Miller.
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U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.
NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.
GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.
REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.