News
2015, April, 14, 20:20:00
CASH FLOW DOWN
Rapid and aggressive strategic response by oil and gas companies to low oil prices has driven industry cash flow breakevens down by $20/bbl to $72/bbl, according to a recent analysis of Wood Mackenzie. If oil prices remain at current levels, further cuts would be required to achieve cash flow neutrality, WoodMac said. For some companies, this will mean selling assets, others may suspend or limit dividend and buyback programs.
2015, April, 14, 20:15:00
US OIL FALL
Oil production from the fastest-growing U.S. shale plays is set to fall some 45,000 barrels per day to 4.98 million bpd in May from April, the first monthly decline in over four years, projections from the U.S. Energy Information Administration showed on Monday.
2015, April, 14, 20:10:00
OPEC ISN’T WORKING
OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister said, a sign of the pain lower prices are causing OPEC's less wealthy producers.
2015, April, 14, 20:05:00
OPERATIONS ARE SAFER
Advances in technology, standards and practices in the last five years have made America’s offshore #oil and natural #gas industry safer than ever, #API President and CEO Jack Gerard told reporters on a press conference call today.
2015, April, 14, 20:00:00
OFFSHORE DRILLING UNCERTAINTY
As most drilling companies that have rigs without a contract, today, are idling or cold-stacking these rigs, it is estimated that around 140 rigs are heading toward retirement over the next few years as the industry makes way for the newbuilds scheduled for delivery by the end of the decade. Around 360 rigs that are in the current market fleet are more than 30 years old and must be retired at some point.
2015, April, 14, 19:55:00
U.S. GAS RECORD: 2,515 TCF
Unconventional natural gas production is proving to be more durable than many people expected, officials said as the Potential Gas Committee released its 2014 yearend report indicating that the US has a record 2,515 tcf technically recoverable gas resource base.
2015, April, 14, 19:50:00
U.S. RIGS: FALLS UNDER 1000
After noticeably slowed declines over the previous 2 weeks, the US drilling rig count fell 40 units to 988 rigs working during the week ended Apr. 10, settling under 1,000 for the first time since Sept. 11, 2009, according to data from Baker Hughes Inc.
2015, April, 14, 19:45:00
CONOCO SELLS U.S. ASSETS
ConocoPhillips is preparing the sale of noncore oil and gas producing acreage in the United States, in the latest sign that oil majors are becoming more accepting of lower oil prices, according to people familiar with the matter.
2015, April, 14, 19:40:00
UK: 100 BLN BBL
UK Oil and Gas Investments (UK) boosted its oil in place estimate Thursday for the onshore UK Horse Hill field up to 100 billion barrels.
2015, April, 14, 19:30:00
GREECE EXPECTS RUSSIAN GAS
Athens expects to agree to take part in a pipeline that would bring Russian gas to Europe via its territory, Greece's energy minister said on Friday, estimating the project would cost 2 billion euros ($2.1 billion).
2015, April, 14, 19:25:00
GREECE & RUSSIA VS EU
Relations between Greece and Russia appear to be strengthening after Tsipras confirmed his opposition to Western sanctions on Russia. He claimed that the Greek government helped block European proposals to increase the scope of the sanctions.
2015, April, 14, 19:20:00
ОТКЛЮЧИМ ГАЗ
Глава Газпрома А.Миллер, выступая на конференции Валдайского клуба 13 апреля 2015 г, пообещал прекратить поставки газа в те страны, которые выступают против проекта строительства магистрального газопровода (МГП) Турецкий поток.
2015, April, 14, 19:15:00
PETROBRAS: MORE CORRUPTION
A corruption investigation that has already engulfed Brazil’s state-run oil giant Petroleo Brasileiro SA has spread to the health ministry and state-owned bank Caixa Econômica Federal, authorities said Friday.
2015, April, 14, 19:10:00
IRAN OIL FOR CHINA
Iranian #oil officials are in Beijing this week to discuss oil sales and Chinese investments in #Iran, just days after Tehran and world powers reached a framework nuclear deal, and with the #OPEC nation's oil minister due to arrive on Thursday.
2015, April, 9, 19:15:00
SOUTH STREAM FOREVER
Representatives of five countries - Hungary, Serbia, Macedonia, Greece and Turkey - met in Budapest on Tuesday, announcing the formation of a working group to facilitate natural gas deliveries - specifically infrastructure development - to their markets from gas emanating from Turkey including possible participation in the Turkish Stream pipeline.