Upstream
2016, October, 31, 18:50:00
DEEPWATER OIL UP
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 million barrels per day (b/d) in 2015. Deepwater production, or production in water of depths greater than 125 meters, has increased 25% from nearly 7 million b/d a decade ago.
2016, October, 31, 18:40:00
GE & BAKER HUGHES: $32 BLN
- Combination creates an unparalleled company positioned to deliver value for customers and investors
- GE to own 62.5% and Baker Hughes shareholders to own 37.5% of the “New” Baker Hughes
- GE to contribute $7.4 billion to fund the $17.50 per share special dividend to existing Baker Hughes shareholders
2016, October, 31, 18:30:00
U.S. RIGS UP 4
U.S. Rig Count is down 218 rigs from last year's count of 775, with oil rigs down 137, gas rigs down 83, and miscellaneous rigs up 2.
Canadian Rig Count is down 38 rigs from last year's count of 191, with oil rigs down 11, gas rigs down 28, and miscellaneous rigs up 1.
2016, October, 27, 18:55:00
AMERICA'S HEALTH PRICE: $50
The North American market has continued to "grind slowly upwards" as the rig count, particularly in the US, ticks ahead from troughs seen six months ago, Martin Craighead said during a quarterly conference call with analysts. But "customers need to be more confident of the durability of those prices before making any significant change to their spending patterns," Craighead said.
2016, October, 27, 18:45:00
IRAQ: OUT OF DEAL
The worsening OPEC equation presents Saudi Arabia with a difficult choice after its Algiers U-turn: carry a greater burden within the group, ceding market share to other producers, or lose credibility by softening the terms of the deal. In a worst-case scenario, Saudi Arabia will have to cut production by more than 1 million barrels a day, sending the kingdom’s output to a two-year low.
2016, October, 26, 18:50:00
UNDERINVESTMENT OIL
Big companies responded with big cuts. BP, Eni and their peers cut exploration spending by 35% in 2015 compared with 2013, Wood Mackenzie’s data show. Many projects now focus on lower-risk, lower-reward prospects as companies hope for incremental gains near existing infrastructure that they can bring online quickly and cheaply.
2016, October, 26, 18:45:00
RUSSIA: THE LARGEST PRODUCER
Russia is the world's largest producer of crude oil (including lease condensate) and the second-largest producer of dry natural gas. Russia also produces significant amounts of coal. Russia's economy is highly dependent on its hydrocarbons, and oil and natural gas revenues account for more than 40% of the federal budget revenues.
2016, October, 26, 18:40:00
RUSSIA - NORWAY EXCHANGE
The Norwegian Petroleum Directorate (NPD) and Russian petroleum authorities (Federal Subsoil Resources Management Agency, Rosnedra) have entered into an agreement to exchange seismic data from the areas around the demarcation line in the Barents Sea.
2016, October, 26, 18:35:00
OFFSHORE OIL PRODUCTION: 30%
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global oil production. Offshore oil production increased in both 2014 and 2015, reversing consecutive annual declines from 2010 to 2013. Production from onshore tight oil plays has increased faster over the past several years and accounts for an increasing amount of total oil production.
2016, October, 26, 18:30:00
NIGERIA'S OIL PRODUCTION UP TO 1.9 MBD
"We have built capacity of up to 2.4 million b/d, but [we are] currently producing about 1.9 million b/d," Omar Farouk, the special adviser on international energy relations to Nigeria's oil minister of state, said on the ministry's twitter handle.
2016, October, 25, 18:55:00
ПРАВИЛЬНОЕ РЕШЕНИЕ
«Самое сильное и продолжительное падение цен на рынке за последние 45 лет в условиях нехватки финансирования рискует обернуться дефицитом ресурсов, который приведет к непредсказуемым скачкам цен и в конечном счете сильно ударит по потребителям. В текущей ситуации «заморозка» или даже сокращение добычи на определенное время – правильное решение для мировой энергетики», – подчеркнул Александр Новак.
2016, October, 25, 18:50:00
IRAN READY TO FREEZE
A senior Iranian oil official here on Monday voiced Tehran readiness to join the Organization of Petroleum Exporting Countries (OPEC) oil freeze plan to help stabilize prices in international markets.
2016, October, 25, 18:40:00
IRAQ WANTS 9 MBD
“We should be producing 9 million if it wasn’t for the wars,” said Falah Al Amri, the director general of state oil marketing company SOMO.
2016, October, 24, 18:50:00
МЕДЛЕННОЕ ВОССТАНОВЛЕНИЕ РЫНКА
«Сегодня у нас есть общее понимание, что рынок восстанавливается медленно, инвестиции в отрасль находятся на рекордно низком уровне, запасы существенно превышают средние значения за пять лет. Мы видим целесообразность принятия мер для балансировки рынка в ближайшие месяцы с целью возврата инвестиций и снижения волатильности», - отметил Александр Новак, выступая на пресс-конференции по итогам переговоров.
2016, October, 24, 18:45:00
U.S. OIL PRODUCTION DOWN 8.9%
U.S. crude oil production declined 8.9 percent from year ago levels. However, at an average of 8.6 million barrels per day, domestic crude oil production in September increased by 0.8 percent from August–the first month over month increase in six months. Compared with year to date 2015, domestic crude oil production declined 6.1 percent. Compared to third quarter of 2015, crude oil production decreased 8.5 percent for the third quarter of 2016. September crude oil production was the third highest level for the month and the second highest year to date level in 31 years, since 1985.