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Upstream

Upstream
2016, October, 6, 18:45:00
ROSNEFT SOLD $2 BLN
The closed transaction is a symbolic one for the companies and marks the transition to a new level of cooperation in the Russian-Indian relations in the energy area. Indian companies obtain substantial interest in one of the biggest large-scale projects of Rosneft of the last decade, whereas Rosneft retains 61.1% shares in the project.
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2016, October, 6, 18:40:00
ROSNEFT & PERTAMINA AGREEMENT
Rosneft and Pertamina signed an Agreement envisaging the creation of a Joint Venture (JV) with the scope of implementing the project for the construction of the Tuban refining and petrochemical complex to be located in the eastern part of Java (Indonesia).
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2016, October, 5, 18:35:00
IRANIAN DEAL: $2.5 BLN
Paolo Scaroni, the former chief executive of Italy’s Eni SpA, said Iran is able to pump as much as 4.1 million to 4.2 million barrels daily.
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2016, October, 4, 18:40:00
IRAN WANTS 4 MBD
Managing director of National Iranian Oil Company (NIOC) Ali Kardor said Iran will not cease to achieve the targeted crude oil output of 4 million barrels per day.
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2016, October, 3, 18:30:00
U.S. RIGS UP 11
U.S. Rig Count is down 287 rigs from last year's count of 809, with oil rigs down 189, gas rigs down 99, and miscellaneous rigs up 1. Canadian Rig Count is down 17 rigs from last year's count of 179, with oil rigs up 14, and gas rigs down 31.
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2016, September, 30, 18:40:00
OIL DEMAND WILL RISE
Demand for land rigs will rise 29 percent next year to 579, the S&P Global Platts unit said in a report released at the Benposium East conference in New York on Wednesday. Platts RigData forecasts average West Texas Intermediate crude prices to climb 23 percent to $52.18 a barrel in 2017. The Henry Hub natural gas benchmark is seen increasing 26 percent to $3.05 per million British thermal units.
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2016, September, 30, 18:35:00
AN IMPORTANT ISRAELI GAS
Europe sees Israel and the region as an important supplier of gas to Europe
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2016, September, 30, 18:30:00
UK'S OIL COLLAPSE
"The UK continental shelf is in urgent need of fresh investment to boost exploration and drive activity, particularly for the supply chain," Oil and Gas UK chief executive Deirdre Michie said, going on to call for additional government efforts to encourage investment.
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2016, September, 29, 18:45:00
OPEC AGREED
"OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market," said Iranian Oil Minister Bijan Zanganeh, who had repeatedly clashed with Saudi Arabia during previous meetings.
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2016, September, 29, 18:40:00
SAUDI - IRAN COMPROMISE
While Tehran wants to set its production target at about 4.2 million barrels per day, Riyadh last week asked its regional rival to freeze its output at 3.6 million barrels per day in return for a production cut.
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2016, September, 28, 18:50:00
IRAN WANTS 13%
The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.
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2016, September, 28, 18:45:00
SAUDI NEEDS A GENTLE
“We need a gentle adjustment to reassure the market,” Mr. Falih said at a briefing where he was flanked by his Russian counterpart, Alexander Novak.
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2016, September, 27, 18:40:00
MARKET ISN'T FAVORITABLE
Speaking to Shana while departing Tehran for Algiers to attend the International Energy Forum (IEF) to be held Tuesday and Wednesday in Algiers, Zangeneh said the current market conditions are not favorable for crude oil producers and consumers in the mid- and long terms.
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2016, September, 27, 18:30:00
HARD RUSSIAN OIL
Top Russian producer Rosneft expects the share of hard-to-recover oil production to rise to 11 percent of its total crude output by 2020, from 7 percent this year. Gazprom Neft, the oil arm of state gas producer Gazprom, is raising its share of output of hard-to-recover oil by tapping more reserves at the Messoyakha project and other assets.
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2016, September, 26, 19:05:00
OIL MARKET IS WEAK
“While the oil market has recovered from its most severe period, it’s still weak,” Nasser said.