August 2018

PLATTS - Royal Dutch Shell has picked up 26% stake in Hazira LNG project in the western Indian state of Gujarat from French energy major Total,

REUTERS - International Brent crude oil futures LCOc1 were at $75.49 per barrel at 0956 GMT, down 33 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 32 cents at $68.40 a barrel.

ARAB NEWS - One of the key markers of Iran's economic crisis has been the collapse in the currency, which has lost around half its value since April.

PLATTS - South Korea's crude oil imports from Iran dropped 45.8% year on year in July in the wake of the re-imposition of US sanctions, while intakes from Kazakhstan, the US and Mexico jumped as alternative sources.

REUTERS - The lawsuit filed with the ICJ says the U.S. sanctions, which are damaging the already weak Iranian economy, violate terms of a little-known friendship treaty between the two countries.

REUTERS - Ukraine government should consider looking for alternatives to natural gas supplies from Russia.

BAKER HUGHES A GE - U.S. Rig Count is down 13 rigs from last week to 1,044, with oil rigs down 9 to 860, gas rigs down 4 to 182, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 17 rigs from last week to 229, with oil rigs up 12 to 153 and gas rigs up 5 to 76.

REUTERS - Brent crude oil futures LCOc1 were at $75.07 per barrel at 0424 GMT, up 34 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.24 per barrel, up 41 cents, or 0.6 percent.

ARAB NEWS - The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum. This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months, as directed by its Board of Directors.

UNIAN - Ukraine must raise gas prices to market levels in order to qualify for more aid under a $17.5 billion IMF program. Ukraine, which wants to resume cooperation with the International Monetary Fund (IMF), may need to increase household gas prices, Prime Minister Volodymyr Groysman was quoted as saying on Thursday.