2016, September, 2, 18:40:00OIL PRICE COMPROMISE
“From the viewpoint of economic sense and logic, then it would be correct to find some sort of compromise,” Putin said in an interview in Vladivostok. “I am confident that everyone understands that. We believe that this is the right decision for world energy.”
2016, September, 2, 18:30:00ROSNEFT - BP - SCHLUMBERGER COOPERATION
The agreements were signed at the Eastern Economic Forum (EEF) in Vladivostok, Russia by Rosneft CEO Igor Sechin, the president of BP Russia David Campbell and Schlumberger’s regional president Gokhan Saygi.
2016, September, 1, 18:45:00SAUDI STABILIZES PRICES
The country is able to pump as much as 12.5 million barrels a day of oil, he said in comments broadcast during an official visit to buyers in Asia, its biggest market, including China.
2016, September, 1, 18:40:00IRAQ & KURDISTAN DEAL
Iraqi Prime Minister Haider Jawad Kadhim Al Abadi and his Kurdish counterpart, Nechirvan Barzani, have agreed to split the proposed export volume of 150,000 bopd from Kirkuk’s Baba Gorgor and Khabbaz fields between them. On Tuesday, Kurdish news outlet Rudaw also claimed an agreement on Kirkuk oil had been reached.
2016, September, 1, 18:35:00BP &CNPC CONTRACT
“Combining CNPC’s operational expertise with BP’s technology and experience, we now expect to leverage the synergies between these blocks. This new PSC clearly demonstrates our continued commitment to invest in projects in China which will deliver long-term value to BP, to our Chinese partners and, most importantly, to the country.”
2016, August, 31, 18:40:00MALAYSIAN - INDONESIAN LNG
In recent years, given the huge potential in Indonesia LNG market, JSK has ventured into the LNG supply chain. Recently, it was awarded the LNG re-gasification and storage contracts to support a gas-fired power plant in Bali, Indonesia. Following the successful completion of the deal, Coastal Contracts would have joint control over JSK Gas’s operating subsidiaries and assets. JSK Gas, through its 99% owned subsidiary Benoa Gas Terminal (BGT), would be engaged in the operations and transfer of a floating LNG regasification unit over a five-year contract period.
2016, August, 30, 18:50:00OIL 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.
2016, August, 30, 18:45:00NORWAY'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.
2016, August, 29, 18:30:00U.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.
2016, August, 26, 18:40:00NORWAY 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.
2016, August, 25, 18:40:00IRANIAN 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.
2016, August, 24, 18:45:00IRAQ WANTS MORE
Iraq, which depends on oil sales for 95 percent of its public spending, appears set to continue boosting production, which currently stands at around 4.6 million barrels per day.
2016, August, 24, 18:40:00IRAN MIGHT COOPERATE
Iran sent a letter to members of the Organization of the Petroleum Exporting Countries saying it would attend the group’s informal talks in Algeria in September, OPEC delegates told The Wall Street Journal. An Iranian oil-ministry press official couldn’t confirm the letter had been sent late Tuesday.
2016, August, 23, 18:40:00SAUDI NEED COOPERATION
Saudi Arabia has traditionally accounted for most of the crude imports by Asia, the world's biggest oil-consuming region. But recently OPEC's top producer has lost ground in a number of major markets including Russia and China, and faces a further threat from Iran, which is ramping up exports after the removal of Western sanctions.
2016, August, 22, 18:45:00NERVOUS OIL PRICES
This summer the U.S. oil price has whipsawed from more than $50 a barrel in June to below $40 earlier this month. In the past two weeks it has risen more than 20%, to a recent $48.22 a barrel.