July 2018

REUTERS - October Brent crude futures were last up 36 cents at $75.12 a barrel by 0902 GMT. The September contract expires on Tuesday. U.S. crude futures were up 78 cents at $69.47 a barrel.

МИНЭНЕРГО РОССИИ - «Мы исходим из ориентира того, что мы восстановим добычу где-то на 200-250 тыс. баррелей в сутки относительно 300 тыс., которые были снижены от октября 2016 года», - сказал Министр.

NYT - Demand for natural gas — a cleaner-burning fossil fuel than coal or oil — is rising worldwide, and the United States is a growing supplier of liquefied natural gas, or L.N.G. The European Union, meanwhile, wants to diversify its energy supply, which remains somewhat dependent on Russia, with which it has a difficult relationship.

REUTERS - The new supply could enlarge Brazil’s market share in China as buyers there cut oil imports from the United States following Beijing’s announcement it would impose tariffs on U.S. crude in retaliation against similar moves by Washington.

U.S. BEA - Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018 , according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.

EXXONMOBIL - Exxon Mobil Corporation announced estimated second quarter 2018 earnings of $4 billion, or $0.92 per share assuming dilution, compared with $3.4 billion a year earlier. Cash flow from operations and asset sales was $8.1 billion, including proceeds associated with asset sales of $307 million. During the quarter, the corporation distributed $3.5 billion in dividends to shareholders. Capital and exploration expenditures were $6.6 billion, up 69 percent from the prior year, reflecting key investments in Brazil, the U.S. Permian Basin and Indonesia.

CHEVRON - Chevron Corporation (NYSE: CVX) reported earnings of $3.4 billion ($1.78 per share – diluted) for second quarter 2018, compared with $1.5 billion ($0.77 per share – diluted) in the second quarter of 2017. Included in the current quarter was a receivable write-down of $270 million charged to operating expense. Foreign currency effects increased earnings in the 2018 second quarter by $265 million, compared with an increase of $3 million a year earlier.

ENI - Group results Adjusted operating profit: €2.56 billion, up by 152% on a quarterly basis; €4.94 billion in the first half (up by 73% vs. first half of 2017). Adjusted net profit: €0.77 billion, up by 66% q-o-q; €1.74 billion, up by 45% in the first half of 2018. Net profit: €1.25 billion in the second quarter (€2.20 billion in the first half).

WEATHERFORD - Weatherford’s non-GAAP net loss for the second quarter of 2018, which excludes unusual charges and credits, was $156 million, or $0.16, diluted loss per share. This compares to a $188 million non-GAAP net loss in the prior quarter, or $0.19 diluted loss per share, and a $282 million non-GAAP net loss for the second quarter of 2017, or $0.28 diluted loss per share.

BAKER HUGHES A GE - U.S. Rig Count is up 2 rigs from last week to 1,048, with oil up 3 to 861, gas rigs down 1 to 186, and miscellaneous rigs unchanged at 1. Canada Rig Count is up 12 rigs from last week to 223, with oil rigs up 12 to 154 and gas rigs unchanged at 69.