News
2015, September, 29, 20:45:00
THE NEW RUSSIAN EMPIRE - 7
The offers, which were submitted in July, nevertheless fell far short of LetterOne's target price of up to $1.2 billion, with the highest offers coming in at around $750 million, according to several sources close to the process.
2015, September, 29, 20:40:00
GLENCORE IS DROWNING
Glencore has more than $10bn in short-term credit and has just raised a little under $2.5bn through an equity placing. Even at current commodity prices, it believes it can produce $3bn in free cash flow a year.
2015, September, 27, 20:00:00
CHINA & RUSSIA PROGRESSION
China’s $40 billion Silk Road Fund said it would finance part of the project, a development Total CEO Patrick Pouyanné called “a clear commitment by China” in an interview Wednesday. The price paid for Silk Road’s 9.9% stake in Yamal wasn’t disclosed.
2015, September, 27, 19:40:00
SCHLUMBERGER PROVIDES UPDATE
Schlumberger Limited announced that it does not intend to extend the pending agreement to acquire a minority equity interest in Eurasia Drilling Company Limited, once the current extension expires on September 30, 2015. The Company will instead focus on other M&A opportunities.
2015, September, 27, 19:35:00
HALLIBURTON CUTS 2,000 JOBS
Halliburton Co., the world’s second-largest oilfield services provider, has cut 2,000 more jobs, mostly in North America, the region hardest hit by the crude collapse.
2015, September, 24, 19:00:00
US LOSING EUROPE
Changing dynamics in the global LNG market hint at a stronger role of European markets, and a decreased interest of American players given a minimal growth of the global markets, which are expected to increase 'only' between 2.1 and 2.5% in 2015.
2015, September, 24, 18:55:00
OIL PRICES: BELOW $60
A survey of 13 investment banks by The Wall Street Journal cut their average forecast for Brent crude, the international price gauge, by $9 to $58.70 a barrel, compared with last month’s survey. For West Texas Intermediate, the U.S. oil marker, the average forecast is for $54.40 a barrel, also down $9 from August.
2015, September, 24, 18:50:00
INDIAN INVESTMENTS TO IRAN: $15 BLN
India is ready to invest more than $15.2 billion to build projects in Iran including taking up full-scale development of Chabahar Port if Tehran offers better terms including cheaper gas, Shipping Minister Nitin Gadkari said on Wednesday.
2015, September, 24, 18:40:00
GAZPROM'S FINANCIAL RISKS
"The original Nord Stream was funded by project finance. We believe raising multi-billion dollar project financing for Nord Stream 2 in the capital markets would probably be much harder now. This is because Western sanctions have significantly hindered international funding to Russian corporates, even those not directly sanctioned," Fitch said.
2015, September, 21, 19:00:00
LOW OIL PRICES: $1.5 TN
Plunging oil prices have rendered more than a trillion dollars of future spending on energy projects uneconomic, according to a study that suggests that the impact on industry operators is worsening.
2015, September, 21, 18:55:00
OIL PRICES UP 1%
Oil rose by more than 1 percent on Monday after data showed U.S. drilling slowed and a report said $1.5 trillion worth of planned production was uneconomic at current prices.
2015, September, 21, 18:50:00
U.S. OIL DEBT UP
Results from second-quarter 2015 financial statements of a number of U.S. companies with onshore oil operations suggest continued financial strain for some companies. Low oil prices have significantly reduced cash flow for U.S. oil producers, and to adjust to lower cash flows, companies have reduced capital expenditures and raised more cash from debt and equity.
2015, September, 21, 18:45:00
U.S. OIL DEMAND UP
Total petroleum deliveries (a measure of demand) in August rose by 0.8 percent from August 2014 to average nearly 19.6 million barrels per day, according to API’s Monthly Statistical Report for August 2015. August crude oil production was the highest level for the month and the highest year to date level in 43 years, since 1972.
2015, September, 21, 18:40:00
U.S. RIGS DOWN 6
U.S. Rig Count is down 6 rigs from last week to 842, with oil rigs down 8 to 644, gas rigs up 2 to 198, and miscellaneous rigs unchanged at 0.
2015, September, 21, 18:35:00
NEW LEADER OF SAUDI ARAMCO
Saudi Aramco president and CEO Amin H. Nasser expressed his profound gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, chairman of the Saudi Aramco Supreme Council for the trust bestowed upon him to preside over Saudi Arabian Oil Company (Saudi Aramco).