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July 2017

July 2017
2017, July, 12, 14:15:00
RUSSIA'S INVESTMENT POTENTIAL
"Russia is among the leading energy countries today. We see colossal unrealized potential for cooperation, for investment -- we will continue working on implementing it with all the interested parties," Novak said.
July 2017
2017, July, 12, 14:10:00
IEA: ENERGY INVESTMENT UPDOWN
Total energy investment worldwide in 2016 was just over $1.7 trillion, accounting for 2.2% of global GDP. Investment was down by 12% compared to IEA’s revised 2015 energy investment estimate of $1.9 trillion.
July 2017
2017, July, 12, 14:05:00
SAUDI ARAMCO INVESTMENT: $300 BLN
“Saudi Aramco plans to invest more than $300 billion over the coming decade to reinforce our preeminent position in oil, maintain our spare oil production capacity and pursue a large exploration and production program centered on conventional and unconventional gas resources.”
July 2017
2017, July, 12, 14:00:00
SAUDIS WILL CUT
Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying within its OPEC production commitment, a Saudi industry source said.
July 2017
2017, July, 10, 12:30:00
OIL PRICES: ABOVE $46
Brent crude futures, the international benchmark for oil prices, were at $47.08 per barrel at 0537 GMT, up 37 cents, or 0.8 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $44.60 per barrel, up 37 cents, or 0.8 percent.
July 2017
2017, July, 10, 12:25:00
ENERGY PRICES DOWN MORE
Because two major crude oil price benchmarks, West Texas Intermediate (WTI) and Brent, account for 70% of the weighting in the S&P GSCI energy index, the energy index tends to follow major price movements in the crude oil market. During the first half of 2017, WTI crude oil prices declined by 12%, while Brent prices fell 14%.
July 2017
2017, July, 10, 12:20:00
IMF NEEDS SAFEGUARD
“The current period of growth should be used as an opportunity: to further safeguard the financial sector--by building up capital buffers and strengthening corporate and bank balance sheets; to address the issue of stagnant real wages--which can undermine the recovery and fuel discontent; and to confront the problem of excessive current account imbalances--with both surplus and deficit countries playing their part."
July 2017
2017, July, 10, 12:15:00
RUSSIAN OIL PRODUCTION DOWN 0.6%
The energy ministry is forecasting that crude production in Russia will fall by 0.6% year on year to 549.1 million mt, or 11.027 million b/d on average, in 2017 on the extension of the output cut deal.
July 2017
2017, July, 10, 12:10:00
RUSSIA FINANCES U.S.
“If you connect the dots, it is clear that Russia is funding US environmental groups in an effort to suppress our domestic oil and gas industry, specifically hydraulic fracturing,” Committee Chairman LaMar Smith (Tex.) said on July 7 as he released a letter he and Energy Subcommittee Chairman Randy Weber (Tex.) sent to Mnuchin.
July 2017
2017, July, 10, 12:05:00
INDIA BUYS U.S. OIL
India, the world's third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in October.