News
2015, June, 3, 18:40:00
FAIR PRICE: $75 - 80
The top oil officials of Iraq and Venezuela said on Wednesday that $75 to $80 a barrel was now a "fair" price for oil, reflecting an emerging consensus on a possible equilibrium for volatile markets
2015, June, 1, 19:00:00
GREECE & RUSSIA PIPELINE
Greece's energy minister has discussed in Moscow the construction of a pipeline that will transport Russian gas to Europe through its territory, the Greek energy ministry said on Saturday.
2015, June, 1, 18:55:00
U.S. OIL PRICES
U.S. shale oil producers, having weathered the worst price plunge in their industry's brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices.
2015, June, 1, 18:50:00
INDIA BUY US LNG
State-owned Indian Oil Corp (IOC) on Friday said it has signed an interim agreement to buy 0.7 million tonnes (MT) per year of LNG from US on a long-term contract beginning 2018.
2015, May, 30, 21:30:00
U.S. GDP DOWN
Real gross domestic product -- the value of the production of goods and services in the United States, adjusted for price changes -- decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent.
2015, May, 30, 21:25:00
THE NEXT OIL WAR
An increasingly assertive China has warned that World War 3 is "inevitable" unless the United States stops meddling in the South China Sea affairs. Earlier this week, the People's Liberation Army (PLA) said in a new white paper that it is going to up the ante in the South China Sea. In a sign of its growing self-confidence, Beijing said that it would now focus less on defensive capabilities, and step up efforts to build offensive capabilities.
2015, May, 29, 21:00:00
U.S. RIGS DOWN 10
U.S. Rig Count is down 10 rigs from last week to 875, with oil rigs down 13 to 646, gas rigs up 3 to 225, and miscellaneous rigs unchanged at 4.
2015, May, 29, 18:15:00
UKRAINE GAS DEBT: $29.5 BLN
Russian natural gas producer Gazprom put Ukraine's total gas debt at almost $29.5 billion on Thursday, ratcheting up pressure in a gas pricing dispute with the country, which is fighting a pro-Moscow rebellion on its eastern outskirts.
2015, May, 28, 18:50:00
NORWAY: MORE OIL
The current recoverable volume of oil in fields and discoveries exceeds the estimated figure in 2005, and it is also presumed that more oil remains to be discovered.
This is the result of the Norwegian Petroleum Directorate’s (NPD’s) review of the resource basis in a select number of fields and discoveries on the Norwegian shelf between 2005 and 2014.
2015, May, 28, 18:35:00
SWISS & RUSSIAN OIL
Through a series of deals with Rosneft, the Russian state-controlled oil company, Trafigura exported almost 9m barrels of crude in April, worth more than $500m, according to port data compiled by Nefte Compass, an industry publication.
2015, May, 28, 18:30:00
VENEZUELA & RUSSIA INVESTMENT: $14 BLN
Venezuela and Russia's top oil producer, Rosneft, have agreed on around $14 billion in investment in the South American OPEC country's oil and gas sector, President Nicolas Maduro said on Wednesday evening.
2015, May, 28, 18:25:00
INDONESIA NEED OIL
"Indonesian energy minister Sudirman Said met with Iran's oil minister Bijan Namdar Zangeneh last week. We [Indonesia and Iran] agreed on two things -- Indonesia to buy Iranian crude and Iran allows Indonesia to participate in upstream business there," Dadan Kusdiana, spokesman at the energy and mines ministry said Thursday.
2015, May, 28, 18:20:00
UK OIL & GAS REGULATOR
The UK's new Conservative government is planning an energy bill to set up the new Oil and Gas Authority with the powers it needs to become a "robust, independent and effective regulator"
2015, May, 28, 18:15:00
TOTAL FOR ANGOLA: 2 BLN BBL
Total has achieved the significant milestone of producing a cumulative two billion barrels from its operated deep offshore Block 17 located 150 km off the coast of Angola. With the recent start up of CLOV, Block 17 has become Total’s most prolific site with production of over 700,000 barrels per day.
2015, May, 28, 18:10:00
EXXON CHOOSE NOT TO LOOSE
At the oil giant’s annual meeting on Wednesday in Dallas, CEO Rex Tillerson gave a stay-the-course outlook for the company, which has seen profits decline recently with lower prices for crude oil.