News
2016, October, 13, 18:30:00
ROSNEFT BOUGHT BASHNEFT
The deal was strongly appreciated by the investment community for the expansion of the Combined Company to the new crude oil and petroleum product production and supply areas, Rosneft adding 10% of liquid hydrocarbon production and 20% of refining throughput as well as for significant synergies arising from optimization of mutual oil supplies, transport and logistics costs, drilling cost reduction and joint use of production assets’ infrastructure, modern technologies and know-how.
2016, October, 11, 18:50:00
OIL PRICES: ABOVE $52 STILL
December Brent crude oil futures LCOc1 were down 42 cents at $52.72 a barrel by 1100 GMT, below Monday's one-year high at $53.73, but off an intraday low at $52.51, while U.S. futures CLc1 were down 43 cents at $50.92 a barrel.
2016, October, 11, 18:45:00
РОССИЯ ПОДДЕРЖИВАЕТ ОПЕК
«Мы поддерживаем инициативу ОПЕК по фиксации лимитов на добычу и рассчитываем, что на заседании ОПЕК в ноябре эта инициатива воплотится в конкретные договоренности. Россия готова присоединиться к совместным мерам по ограничению добычи, и призывает к этому других экспортеров нефти», – подчеркнул Владимир Путин.
2016, October, 11, 18:40:00
ANTI-OPEC POSITION
"Why should we do it?" Sechin, known for his anti-OPEC position, told Reuters in Istanbul on Monday evening, when asked if Rosneft, which accounts for 40 percent of Russia's total crude oil output, might cap its own output.
2016, October, 11, 18:35:00
RUSSIA - TURKEY STREAM
The warming relations between NATO member Turkey and Russia comes as both countries are dealing with troubled economies and strained ties with the West.
2016, October, 11, 18:30:00
OIL PRICES: REDUCING THE ODDS
"Higher production from Libya, Nigeria and Iraq are reducing the odds of such a deal rebalancing the oil market in 2017," Goldman analysts said.
2016, October, 10, 18:50:00
OIL PRICES: ABOVE $52 AGAIN
Global benchmark Brent crude futures LCOc1 reached a high of $52.57 a barrel, not far off a one-year high of $52.86 a barrel, by 1207, up 64 cents on Friday's close.
U.S. futures CLc1 also gained ground, trading at $50.32, up 51 cents.
2016, October, 10, 18:45:00
IRAQ WANTS MORE
The minister "has affirmed the need to proceed forth with increasing oil and gas production through enhancing the national effort and those of the licensed companies for the remainder of 2016 and also for 2017," the statement said.
2016, October, 10, 18:40:00
WORLDWIDE RIG COUNT UP 37
The worldwide rig count for September 2016 was 1,584, up 37 from the 1,547 counted in August 2016, and down 587 from the 2,171 counted in September 2015.
2016, October, 10, 18:35:00
THE LOWEST NORTH SEA
Baker Hughes Inc., the services company that tracks drilling activity worldwide, said just 27 rigs operated last month in the North Sea, the lowest number since records started in January 1982. The previous low was set in October 1999, when oil prices plunged to $10 a barrel.
2016, October, 10, 18:30:00
U.S. RIGS UP 2
U.S. Rig Count is down 271 rigs from last year's count of 795, with oil rigs down 177, gas rigs down 95, and miscellaneous rigs up 1.
Canadian Rig Count is down 15 rigs from last year's count of 180, with oil rigs up 13, and gas rigs down 28.
2016, October, 7, 18:45:00
OIL PRICES: ABOVE $52
Brent LCOc1 traded at $52.11 at 1000 GMT, 40 cents down, after touching $52.84 earlier, two cents below the 2016 high.
U.S. oil futures traded as high as $50.74 a barrel, a three and a half month high, before falling by 30 cents to $50.14 a barrel. On Thursday they settled at $50.44 per barrel - the first settlement above $50 since June 23.
2016, October, 7, 18:40:00
OPEC - RUSSIA MEETING
Last week, the Organization of the Petroleum Exporting Countries agreed to cut between 200,000 barrels a day and 700,000 barrels a day of their output to reduce a global oil glut. The 14-nation oil-producing group controls over a third of the world’s oil production, but said it also wanted non-OPEC producers to join the effort to curb output.
2016, October, 7, 18:35:00
BRITAIN'S SHALE GAS
Britain is estimated to have substantial amounts of shale gas trapped in underground rocks and the government wants to exploit it to help offset declining North Sea oil and gas output. It said the shale gas industry could create 64,000 jobs and help economic growth.
2016, October, 7, 18:30:00
EXXON FINED $75 BLN
The court judgment released on Wednesday found that the companies owed nearly 484 billion CFA francs in royalties to the Chadian government. It did not explain why the penalties amounted to more than 90 times that amount.