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News
2016, August, 30, 18:55:00
OIL PRICES: BEYOND $49
Brent crude futures LCOc1 were trading at $49.38 per barrel at 0505 GMT, up 12 cents from their previous close. U.S. West Texas Intermediate (WTI) crude was up 17 cents at $47.15 a barrel.
News
2016, August, 30, 18:50:00
OIL EXPLORATION & PRICES
With oil prices down by more than half since the price collapse two years ago, drillers have cut their exploration budgets to the bone. The result: Just 2.7 billion barrels of new supply was discovered in 2015, the smallest amount since 1947. This year, drillers found just 736 million barrels of conventional crude as of the end of last month.
News
2016, August, 30, 18:45:00
NORWAY'S EFFICIENT DRILLING
The decline is a result of a combination of simpler development concepts and more efficient drilling. Lower prices for work and equipment are also a contributing factor.
News
2016, August, 30, 18:40:00
ALASKA LNG: LEAST COMPETITIVE
“The Alaska LNG project is one of the least competitive on a cost of supply basis compared with other”
News
2016, August, 30, 18:35:00
GAZPROM'S PROFIT DOWN 10%
Profit attributable to the owners of PJSC Gazprom for the six months ended June 30, 2016 totaled RUB 607,160 million which is RUB 68,744 million, or 10% less than for the same period of the prior year.
News
2016, August, 30, 18:30:00
LUKOIL PROFIT DOWN 2%
Russia's No.2 oil producer Lukoil (LKOH.MM) second-quarter net profit dipped 2 percent, as a weaker rouble helped offset a 30 percent fall in crude prices that has gouged the earnings of many of its peers.
News
2016, August, 29, 18:35:00
U.S. LNG FOR EUROPE-3
“America’s growth in natural gas production means that through LNG exports we can give our allies stability and security in the global natural gas market. America’s shale revolution is growing our economy, spurring environmental improvements and strengthening our own energy security. U.S. LNG will give our allies an opportunity to achieve those some goals.”
News
2016, August, 29, 18:30:00
U.S. RIGS DOWN 2
U.S. Rig Count is down 388 rigs from last year's count of 877, with oil rigs down 269, gas rigs down 121, and miscellaneous rigs up 2. Canadian Rig Count is down 50 rigs from last year's count of 196, with oil rigs down 4, and gas rigs down 46.
News
2016, August, 26, 18:45:00
OIL PRICES: $49.67
Light, sweet crude for October delivery settled up 56 cents, or 1.2%, to $47.33 a barrel on the New York Mercantile Exchange, its ninth winning session in the past 11. Brent, the global benchmark, gained 62 cents, or 1.3%, to $49.67 a barrel.
News
2016, August, 26, 18:40:00
NORWAY IS BETTER
The sector, which accounts for 20 percent of the Nordic country's economy, has been slashing jobs, costs and projects to cope with a 60 percent fall in oil prices since June 2014.
News
2016, August, 26, 18:35:00
CNOOC NET LOSS ¥7.74 BLN
China National Offshore Oil Corp. Ltd. posted a net loss of ¥7.74 billion for the first 6 months of 2016 against a profit of ¥14.73 billion a year earlier.
News
2016, August, 26, 18:30:00
BULGARIA'S GAS HAB
Bulgaria’s prime minister Boyko Borisov proposed the gas hub, to be built near the city of Varna, days after Russia scrapped the Gazprom-led South Stream pipeline project over objections from the EC, suggesting a different idea of what a hub is from the conventional, virtual trading point such as the Dutch title transfer facility.
News
2016, August, 25, 18:50:00
OIL PRICES: $49 AGAIN
International benchmark Brent crude oil futures LCOc1 were trading down 10 cents at $48.85 per barrel at 0709 GMT, having closed down 1.8 percent the previous day. U.S. West Texas Intermediate (WTI) crude futures were at $46.73 a barrel, down 4 cents, after dropping 2.8 percent on Wednesday.
News
2016, August, 25, 18:45:00
U.S. OIL & GAS BENEFIT
U.S. production is a clear factor in lower global crude prices, which has translated into lower energy costs for individual Americans and families. Year-over-year U.S. gasoline prices have declined by almost 50 cents per gallon, due in large part to the decline in the price of crude oil.
News
2016, August, 25, 18:40:00
IRANIAN POSITIVE SIGNALS
"We have held conversations on strengthening our position in oil markets," Iran's Foreign Minister Mohammad Javad Zarif said through an interpreter after a meeting with Ecuador's President Rafael Correa. Zarif added that the two countries have agreed to continue talks within the framework of OPEC, without providing further details. Ecuador Foreign Minister Guillaume Long said they discussed establishing a common position with regards to strengthening oil prices.