Prices
![Prices](/cache/2015/12/SAUDI-28.369b98b0.jpg)
2015, December, 16, 20:00:00
SAUDI'S BATTLE FOR ASIA
The push into Asia comes at a pivotal moment in Saudi Arabia. With oil revenue falling, the kingdom is tightening its belt just as a new king ventures away from the kingdom’s traditionally conservative diplomacy. The International Monetary Fund predicts a budget deficit exceeding 20 percent of economic output this year.
![Prices](/cache/2015/12/OIL-155.dec5db8c.jpg)
2015, December, 16, 19:55:00
RUSSIA SEES BALANCE
"First of all, our policy calls for maintaining production at 525-530 million tonnes (a year), according to our energy strategy"
![Prices](/cache/2015/12/USA-127.e7ae7d65.jpg)
2015, December, 16, 19:45:00
U.S. "ZERO" IMPACT
Any change in U.S. oil policy will have “zero” impact on the market because the country remains an importer, OPEC Secretary-General Abdalla El-Badri said Tuesday.
![Prices](/cache/2015/12/OIL-154.f2d76ec6.jpg)
2015, December, 16, 19:40:00
VOLATILITY OIL PRICES
Flexibility and the ability to survive through the price cycle are more important to oil producers and consumers than flaky forecasts about where prices are going over the next 3, 5 or 10 years.
![Prices](/cache/2015/12/ISIS-2.0467b050.jpg)
2015, December, 16, 19:35:00
ISIS NEEDS OIL
The United States has estimated Islamic State was selling as much as $40 million a month of oil, which was then spirited on trucks across the battle lines of the Syrian civil war and sometimes farther.
![Prices](/cache/2015/12/Indonesia-3.aa259573.jpg)
2015, December, 16, 19:30:00
INDONESIA WOULDN'T TRY
Indonesia wouldn’t try to block an OPEC decision to throttle back output “as long as we wouldn’t get cut,” the country’s OPEC Governor Widhyawan Prawiraatmadja said in an interview in Jakarta on Tuesday. “We are new, we like to listen, to observe,” he said, adding he didn’t know what price level would trigger an extraordinary OPEC meet.
![Prices](/cache/2015/12/OIL-152.e32204e3.jpg)
2015, December, 15, 20:00:00
OIL PRICES DOWN
Brent LCOc1, the global benchmark, was at $37.74 at 0440 GMT, down 18 cents from its last settlement after rising slightly earlier on Tuesday.
![Prices](/cache/2015/12/ISIS-1.922de67e.jpg)
2015, December, 15, 19:50:00
ISIS HEAVY INCOME
The situation is complicated further by ISIS operating largely on a cash basis, making it difficult to impose sanctions, the witnesses said. Financial pressure could be applied on entities and governments in adjacent countries that do business with the group.
![Prices](/cache/2015/12/GAS-29.a0d2c4d7.jpg)
2015, December, 15, 19:45:00
GAS PRICES DOWN
Natural-gas prices plunged to a 14-year low, as the warmest start to winter on record in the U.S. saps demand for the heating fuel and deals another blow to struggling energy companies.
![Prices](/cache/2015/12/SHELL-14.d15cdfef.jpg)
2015, December, 15, 19:35:00
SHELL WANTS TO LEAVE
Shell is consulting experts and commercial partners about what to do with the reinforced concrete base structures, each of which rises 160m from the seabed and weighs about 300,000 tonnes. The low oil price has put companies under pressure to shut facilities as cheaply as possible.
![Prices](/cache/2015/12/BP-15.1129ef43.jpg)
2015, December, 14, 20:00:00
2035: GLOBAL ENERGY UP 37%
By 2035 global energy consumption increases by 37% from today’s levels with virtually all (96%) the growth in non-OECD countries and more than half coming from India and China.
![Prices](/cache/2015/12/OIL-151.b0106f61.jpg)
2015, December, 11, 20:00:00
RUSSIA: NO RISE & CUT
Russia is against an increase in global crude production, rather than favouring a reduction, and remains pessimistic about the possibility of Moscow and Riyadh reaching a production coordination deal, Russia's energy minister Alexander Novak said Thursday. "We are in favor of, not a cut, but of countries not increasing their output, so that demand, which is growing year-by-year, is covered by the oversupply that exists in the market," Novak said.
![Prices](/cache/2015/12/SHELL-13.ccaefead.jpg)
2015, December, 11, 19:40:00
SHELL SELLS NEW ZEALAND
"These assets are profitable, well maintained and are an important part of New Zealand's energy mix," Shell New Zealand Chairman Rob Jager said in a statement Thursday.
"The Shell business in New Zealand is great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this time."
![Prices](/cache/2015/12/CONOCO-5.fd25c465.jpg)
2015, December, 11, 19:20:00
CONOCO CUTS $7.7 BLN
The company also expects to close $2.3 billion of noncore asset sales, including $600 million from transactions that closed through the first three quarters of 2015. The remaining $1.7 billion represents deals with agreements in place that are expected to close in fourth-quarter 2015 or first-quarter 2016.
![Prices](/cache/2015/12/MURPHY-1.f0db5531.jpg)
2015, December, 11, 19:15:00
MURPHY CUTS 60%
“This compares to $2.3 billion in 2015, so a nearly 60% cut. This is one of the steepest 2016 spending cuts we’ve seen across oil and gas producers.”