Oil
2019, February, 1, 11:35:00
OIL MARKET IS CALM
PLATTS- Russian energy minister Alexander Novak said Wednesday that he does not currently see a need to take any extra measures or call for an extra meeting by the OPEC/non-OPEC group over the crisis in Venezuela. "We haven't discussed the situation with [Saudi energy] minister Falih, or other ministers," Novak told reporters. "The markets are currently calm ... and the volatility is insignificant. So there is no need for the extra meeting of OPEC+, at least the Russian side thinks so."
2019, February, 1, 11:30:00
U.S. LOOSE VENEZUELA'S OIL 500 TBD
PLATTS- US refiners cannot rely on Mexico to replace Venezuelan heavy oil imports as the country is battling to reverse its declining production and Pemex's oil is sold under contractual basis, analysts and others say.
2019, February, 1, 11:25:00
U.S. OIL PRODUCTION 11.9 MBD
U.S. EIA - U.S. crude oil production rose to a new high of 11.9 million barrels per day in November, up 345,000 bpd from the previous month,
2019, February, 1, 11:15:00
U.S. OIL INVENTORIES UP 900,000 BBL
OGJ - US crude oil inventories for the week ended Jan. 25, excluding the Strategic Petroleum Reserve, increased by 900,000 bbl from the previous week, data from the US Energy Information Administration showed.
2019, February, 1, 11:05:00
SAUDIS OIL WILL DOWN
BLOOMBERG - Saudi Arabia expects to reduce oil output once again in February and pump for six months at levels “well below” the production limit it accepted under OPEC’s oil-cuts accord, Energy Minister Khalid Al-Falih said.
2019, February, 1, 10:45:00
SHELL EARNINGS $21.4 BLN UP 36%
SHELL - Compared with the fourth quarter 2017, CCS earnings attributable to shareholders excluding identified items of $5.7 billion mainly benefited from higher realised oil, gas and LNG prices as well as stronger contributions from crude oil and LNG trading, partly offset by movements in deferred tax positions. Full year earnings of $21.4 billion also reflected higher realised oil, gas and LNG prices, partly offset by movements in deferred tax positions.
2019, February, 1, 10:40:00
SHELL THIRD BUYBACK
SHELL - Royal Dutch Shell plc (the ‘company’) announces the commencement of trading in the third tranche of its share buyback programme previously announced on July 26, 2018. In the third tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a period up to and including April 29, 2019.
2019, February, 1, 10:35:00
CONOCO EARNINGS $5.3 BLN
CONOCOPHILLIPS - Full-year 2018 earnings were $6.3 billion, or $5.32 per share, compared with a full-year 2017 net loss of $0.9 billion, or ($0.70) per share. Excluding special items, full-year 2018 adjusted earnings were $5.3 billion, or $4.54 per share, compared with full-year 2017 adjusted earnings of $0.7 billion, or $0.60 per share.
2019, January, 30, 11:40:00
OIL PRICE: ABOVE $61
REUTERS - U.S. West Texas Intermediate (WTI) crude futures were at $53.43 per barrel at 0644 GMT, up 12 cents, or 0.2 percent, above their last settlement. International Brent crude oil futures rose 21 cents, or 0.3 percent, to $61.53 per barrel.
2019, January, 30, 11:35:00
WEAK VENEZUELA SANCTIONS
OGJ - “The sanctions will affect refinery margins in the US. Now they will have to import heavy crude from the Middle East at a premium. US refiners will be amongst the biggest losers, as we have noted earlier,” Rodriguez-Masiu said.
2019, January, 30, 11:30:00
U.S., VENEZUELA SANCTIONS ALWAYS
PLATTS - The Trump administration announced Monday that it will sanction PDVSA, Venezuela's state-owned oil company, a move that could suspend roughly 500,000 b/d of Venezuelan crude exports to US Gulf Coast refineries and shut down US exports of diluents to the South American nation.
2019, January, 30, 10:55:00
OIL, GAS INVESTMENT DOWN
BLOOMBERG - Investment in oil and gas production collapsed by about $350 billion, or more than 40 percent, from 2014 to 2016 -- the sharpest contraction since the 1980s -- after crude fell from over $120 a barrel to less than $30, according to the International Energy Agency. The number of new projects approved in 2017 dwindled to the lowest in 70 years, the Paris-based agency said.
2019, January, 30, 10:50:00
LIBYA NEED INVESTMENT $60 BLN
PLATTS - Libya's state National Oil Corp. is targeting a $60 billion overhaul of its oil and gas sector as it strives to reach a pre-civil war output level of around 1.6 million b/d by the end of this year.
2019, January, 28, 10:35:00
OIL PRICE: NEAR $61
REUTERS - U.S. crude oil futures were at $53.13 per barrel at 0543 GMT, down 56 cents, or 1 percent, from their last settlement. International Brent crude oil futures were at $61.03 a barrel, down 61 cents, or 1 percent.
2019, January, 28, 10:25:00
OIL UNDER SIEGE
REUTERS - “There is no doubt - and there is a consensus coming here in various meetings in Davos - that our industry is literally under siege and the future of oil is at stake,” said Mohammed Barkindo, secretary-general of oil producer group OPEC.