Oil&Gas
![Oil&Gas](/cache/2016/11/CHAD-2.8e9afe97.jpg)
2016, November, 16, 18:30:00
EXXON VS CHAD: $74 BLN
Exxon Mobil Corp. is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties.
![Oil&Gas](/cache/2016/11/USA-402.19ee6753.jpg)
2016, November, 15, 18:45:00
U.S. OIL&GAS PRODUCTION DOWN
U.S. oil production down 20 tbd, gas production down 94 mcfd.
![Oil&Gas](/cache/2016/11/NIGERIA-23.fefcd18e.jpg)
2016, November, 15, 18:35:00
NIGERIAN OIL WILL UP TO 3 MBD
Nigeria aims to increase its crude oil output to 2.8 million b/d by 2019 and to 3 million b/d by 2020 from the current average of 2 million b/d, according to a short term policy document produced by the country's oil ministry.
![Oil&Gas](/cache/2016/11/IRAN-97.1e8ed8b6.jpg)
2016, November, 15, 18:30:00
IRAN - RUSSIA COOPERATION
Iranian President Hassan Rouhani has voiced Tehran's readiness for boosting energy cooperation with Moscow, underlining the presence of Russian companies in various energy sectors in Iran.
![Oil&Gas](/cache/2016/11/CHINA-88.d2c102f0.jpg)
2016, November, 14, 18:40:00
CHINA'S TAX EXPORTS
After more than a decade, China has decided to restore tax rebates on exports of gasoline, gasoil and jet fuel, a sign that Beijing is more than comfortable with the domestic supply situation for oil products.
![Oil&Gas](/cache/2016/11/USA-394.5984dfc0.jpg)
2016, November, 14, 18:30:00
U.S. RIGS DOWN 1
U.S. Rig Count is down 199 rigs from last year's count of 767, with oil rigs down 122, gas rigs down 78, and miscellaneous rigs up 1.
Canadian Rig Count is unchanged from last year's count of 176, with oil rigs up 21 and gas rigs down 21.
![Oil&Gas](/cache/2016/11/RUSSIA-147.c029f05a.jpg)
2016, November, 11, 19:00:00
OIL PRODUCTION GROWTH
Supply growth from nations outside the OPEC will be “just shy” of 500,000 barrels a day, an increase of 110,000 barrels a day from the agency’s forecast last month, it said Thursday. Russian production is likely to grow by 190,000 barrels a day, building on a 230,000-barrel increase in 2016.
![Oil&Gas](/cache/2016/11/USA-393.0f3c9385.jpg)
2016, November, 11, 18:50:00
U.S. NEEDS ENERGY
“Eighty percent of voters support increased development of U.S. oil and natural gas resources including 71 percent of Democrats, 94 percent of Republicans and 76 percent of Independents,”
![Oil&Gas](/cache/2016/11/ROSNEFT-53.f79f9e11.jpg)
2016, November, 11, 18:45:00
ROSNEFT DOWN 62%
In 3Q 2016, the Company net profit was at RUB 26 bln. The decline was primarily driven by lower operating profit.
![Oil&Gas](/cache/2016/11/CONOCO-15.9cc864dc.jpg)
2016, November, 11, 18:35:00
CONOCO DIVESTS AMERICA
ConocoPhillips has set its 2017 capital expenditures guidance at $5 billion, down 4% compared with its 2016 guidance of $5.2 billion and less than half of its 2015 capex and investments that totaled $10.1 billion. The firm recently cut its 2016 capex from $5.5 million.
![Oil&Gas](/cache/2016/11/NORWAY-41.326ea439.jpg)
2016, November, 11, 18:30:00
NORWAY'S INVESTMENT DOWN 21%
Total investment in oil and natural gas extraction in Norway was 21% lower in the first half of 2016 compared with the first half of 2015, a decline of about 20.9 billion Norwegian kroner (US $3.5 billion). However, investment cuts have affected some segments of the industry more than others.
![Oil&Gas](/cache/2016/11/UK-15.2f27779d.jpg)
2016, November, 9, 18:40:00
UK OIL & GAS CONFIDENCE
The North Sea oil and gas industry currently faces fierce global competition to attract investment, with the combined challenges of a low oil price, a maturing industry and uncertainty for the sector. Oil & Gas UK’s recently published Economic Report 2016 found that investment in the UK continental shelf has fallen to around £9 billion this year, from a record £14.8 billion in 2014, illustrating the difficulty for investors in accessing finance for asset development.
![Oil&Gas](/cache/2016/11/PERTAMINA-3.68e90229.jpg)
2016, November, 9, 18:35:00
PERTAMINA'S INCOME: $2.83 BLN
Pertamina’s income surged from USD 914 million to USD 2.83 billion, thanks in part to efficiency gains that resulted in a USD 834-million reduction in operational costs.
![Oil&Gas](/cache/2016/11/ROSNEFT-52.87cd00a3.jpg)
2016, November, 8, 18:50:00
ROSNEFT & BGC DEAL: $1.1 BLN
Rosneft and Beijing Gas Group Company Limited (hereinafter, "Beijing Gas") signed a Purchase and Sale Agreement and a Shareholder and Operating Agreement for the sale of a 20% stake in Verkhnechonskneftegaz (a Rosneft subsidiary) to the Chinese company, an Agreement on the Area of Mutual Interest in respect of the adjoining license areas and an Agreement on the cooperation in the gas business. The transaction execution agreement was signed in the presence of the Prime Minister of the Russian Government Dmitry Medvedev and Premier of the State Council of the People's Republic of China Li Keqiang by Rosneft Chief Executive Officer Igor Sechin and Beijing Gas Group Chairwoman of the Management Board Li Yalan.
![Oil&Gas](/cache/2016/11/IRAN-96.ee95d780.jpg)
2016, November, 8, 18:40:00
TOTAL & CNPC: IRANIAN DEAL
Iran wants $200bn of investment in its energy industry over the next five years in order to raise production. Until now the country has been struggling to persuade overseas energy companies to commit amid wrangling over the contract terms offered by Tehran.