Oil
![Oil](/cache/2015/11/IRAQ-4.ffaa82ed.jpg)
2015, November, 23, 19:50:00
IRAQI OIL $30
Iraq has every incentive to keep pumping all it can as its actual oil prices are even lower than the benchmarks. The official selling price of Basra Heavy in Europe is $10.40 a barrel below Brent for December, and trade sources say cargoes are being sold a dollar or more below OSP - or less than $30.
![Oil](/cache/2015/11/PEMEX-1.6fdfef7a.jpg)
2015, November, 23, 19:45:00
$6 BLN FOR MEXICO
The 2015 payment, due next month, is set to surpass the record from 2009, when the Mexican government said it received $5.1 billion after prices plunged with the global financial crisis. The country’s crude has fallen by almost half over the hedging period so far this year. Crude sales historically cover about a third of the government budget.
![Oil](/cache/2015/11/GAZPROM-30.38b54724.jpg)
2015, November, 23, 19:40:00
GAZPROM NEFT DOWN 6.2%
Rising hydrocarbon production, retail sales and efficient management drove a Y-o-Y increase in adjusted EBITDA* of 9.3% (RUB 312 bln) for 9M 2015. A 0.6% Y-o-Y decline in sales was driven by the global drop in oil prices. Net income attributable to the shareholders of Gazprom Neft fell by 6.2% Y-o-Y to RUB 130.9 bln. The negative impact of foreign exchange rate differences in loan revaluations held back net income growth.
![Oil](/cache/2015/11/USA-102.cdeb38a0.jpg)
2015, November, 23, 19:35:00
U.S. RIGS DOWN 10
U.S. Rig Count is down 10 rigs from last week to 757, with oil rigs down 10 to 564, and gas rigs unchanged at 193.
![Oil](/cache/2015/11/USA-103.8909d246.jpg)
2015, November, 23, 19:30:00
U.S. OIL DOWN 0.3%
Total petroleum deliveries (a measure of demand) fell slightly in October by 0.3 percent from year ago levels, according to API’s Monthly Statistical Report for October 2015. Production of all four major products–gasoline, distillate, jet fuel and residual fuels was higher than deliveries for those products, so refined products were exported.
![Oil](/cache/2015/11/OIL-118.1f7f4fbd.jpg)
2015, November, 20, 19:55:00
SAUDI WANTS MONEY: $700 BLN
Speaking at an energy conference in Bahrain on Thursday, Ali al-Naimi, said oil companies “need to increase investments in order to guarantee stability of market for the long and short term”.
![Oil](/cache/2015/11/AFRICA-4.7415f8f2.jpg)
2015, November, 20, 19:50:00
AFRICA IS CLOSED
“Capital markets are effectively closed to the oil and gas industry” in Africa, Tony Hayward, former head of BP Plc and now chairman of Genel Energy Plc, said at a conference in Cape Town last month. “A decade of exploration, with billions of dollars invested and only limited commercial success.”
![Oil](/cache/2015/11/CANADA-5.e9dfddec.jpg)
2015, November, 20, 19:45:00
OPEC THREATENS U.S.
Canadian producers are struggling to cut the cost of extracting bitumen from the oil sands, and their other wells are failing to match the efficiency gains of U.S. rivals, a Bloomberg Intelligence analysis shows. While output keeps rising in the Permian Basin, the largest U.S. shale play, companies are slowing output from wells in Alberta and have shelved 18 oil- sands projects during the downturn, according to ARC Financial Corp.
![Oil](/cache/2015/11/CANADA-8.3fc29f95.jpg)
2015, November, 20, 19:40:00
CANADA: WORST PERIOD
CAODC announces its 2016 Drilling Forecast
• Projected 2016 wells drilled: 4,728—a decrease of 58% from 2014 (11,226)
• Projected operating days: 56,260—a decrease of 57% from 2014 (131,021)
• Rig fleet expected to contract by 62 (758 drilling rigs to 696 drilling rigs)
• 57% decrease in employment from 2014 levels (-28,485 jobs)
![Oil](/cache/2015/11/URALS-1.f4acb3af.jpg)
2015, November, 20, 19:30:00
RUSSIAN ACQUISITION
Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce the acquisition of the entire issued share capital of two private Russian companies, RK-Oil Limited (“RK”) and BVN Oil Limited (“BVN”), from Mr Ilya Glebov. These companies were formed in 2014 in order to participate in public auctions for oil exploration and production licenses in Russia’s Komi region. Following these auctions both RK and BVN hold licenses in the Komi region.
![Oil](/cache/2015/11/OIL-115.ad478549.jpg)
2015, November, 19, 19:50:00
OIL WRITE-DOWNS & LOSSES
International and U.S. upstream oil companies wrote down $38 billion in assets in the third quarter of 2015, the largest for any quarter since at least 2008 for this set of 46 companies. Low oil prices continue to have a significant effect on the value of companies' assets and future prospects as well as on current revenue.
![Oil](/cache/2015/11/STATOIL-7.cfe9ee9c.jpg)
2015, November, 19, 19:30:00
STATOIL LEAVES ALASKA
Statoil ASA announced that it will vacate leases it holds in the Chukchi Sea off Alaska and close its office in Anchorage because they are no longer competitive. Its Nov. 17 action came after Shell Offshore Co. made a similar move with its Alaska federal offshore leases for the same reason.
![Oil](/cache/2015/11/OPEC-22.1deb7410.jpg)
2015, November, 18, 19:45:00
OPEC UNABLE TO AGREE
OPEC’s board of governors was unable to agree on the group’s long-term strategy plan and won’t present it to oil ministers when they meet on Dec. 4 in Vienna, two OPEC delegates with knowledge of the matter said.
![Oil](/cache/2015/11/IRAN-17.3f2215f8.jpg)
2015, November, 18, 19:40:00
IRANIAN OIL WILL UP
“The drop in prices won’t be a concern for us,” Zanganeh said. “It should be a concern for those who have replaced Iran.” Iran doesn’t expect difficulties selling the additional barrels, and “the market has taken into account our return,” he said.
![Oil](/cache/2015/11/USA-101.16a57ef9.jpg)
2015, November, 18, 19:35:00
HUNGRY U.S. OIL
Credit crunch was expected to hit many independent U.S. oil producers, starving the industry of billions of dollars and further denting company budgets and drilling plans.