Prices
![Prices](/cache/2015/08/OIL-26.5eac55ae.png)
2015, August, 13, 18:25:00
OIL PRICES 2015 - 16
North Sea Brent crude oil prices will average $54 per barrel (b) in 2015 and $59/b in 2016.
![Prices](/cache/2015/08/OIL-38.f78349d5.jpg)
2015, August, 13, 18:20:00
OIL DEMAND UP
Demand for oil is increasing at its fastest pace in five years, boosted by an oil-price drop below $50 a barrel, a top energy watchdog said Wednesday, as it sharply upgraded its consumption-growth forecast for the commodity.
![Prices](/cache/2015/08/OIL-35.3c70c796.jpg)
2015, August, 13, 18:15:00
USA OIL 2015 - 16
U.S. crude oil production is projected to increase from an average of 8.7 million b/d in 2014 to 9.4 million b/d in 2015 and then decrease to 9.0 million b/d in 2016. The forecast is about 0.1 million b/d lower and 0.4 million b/d lower for 2015 and 2016. The decrease in the crude oil production forecast reflects a lower oil price outlook that will reduce expected oil-directed rig counts and drilling and well-completion activities throughout the forecast period.
![Prices](/cache/2015/08/OIL-37.63689734.jpg)
2015, August, 13, 18:10:00
USA OIL DOWN $15 BLN
Ten of the largest independent oil and gas producers in the United States reported total losses of almost $15 billion between April and June, compared with profits of almost $3.5 billion a year earlier.
![Prices](/cache/2015/08/OIL-23.3caf09e8.jpg)
2015, August, 11, 18:30:00
OIL PRICES: UNCHANGED
Crude oil prices will be mostly unchanged in the second half of 2015 and rise slowly in 2016
![Prices](/cache/2015/08/AFRICA-2.7e529961.jpg)
2015, August, 11, 18:05:00
OIL PRICES: UP TO AFRICA
As at the end of 2014, Africa has proven natural gas reserves of just under 500 trillion cubic feet (Tcf) with 90% of the continent’s annual natural gas production still coming from Nigeria, Libya, Algeria and Egypt.
![Prices](/cache/2015/08/USA-36.3cc87fde.jpg)
2015, August, 10, 18:30:00
2Q2015 USA LOOSES
During the quarter, Apache closed the sales of its LNG business, and remaining oil and gas assets in Australia . “Exiting these businesses eliminated our exposure to projects with large capital-spending commitments and uncertain project timing,” said John J. Christmann IV, Apache chief executive officer.
![Prices](/cache/2015/08/SAUDI-31.b4698393.jpg)
2015, August, 9, 18:20:00
THE NEXT OIL WAR - 2
The Kingdom of Saudi Arabia may suffer a financial crisis before winning the economic oil war with the United States if the oil prices remain at its current level. The Kingdom needs the oil price to be around $106 per barrel to maintain its economy.
![Prices](/cache/2015/08/USA-198.f779171d.jpg)
2015, August, 7, 19:50:00
USA: BAD & BETTER
The total U.S. trade deficit peaked at $762 billion in 2006, prior to the surge in U.S. oil and natural gas production. By 2014, it had dropped to $508 billion.
![Prices](/cache/2015/08/LNG-16.cabcffcc.jpg)
2015, August, 6, 18:25:00
USA LNG FOR EUROPE
The United States is now the world’s leading producer of natural gas. With LNG exports scheduled to begin within the next six months, America’s oil and gas renaissance will soon provide both substantial domestic and foreign economic benefits. If US LNG can be imported into regions where there is only a single, monopolistic producer, then strategic benefits could accrue as well.
![Prices](/cache/2015/08/IRAN-4.db08e6c0.jpg)
2015, August, 6, 18:20:00
IRAN WILL NOT
In the medium term, Iran’s gas will not be able to compete with the Russian gas in the European market.
![Prices](/cache/2015/08/TESCO-1.0c64605b.jpg)
2015, August, 6, 18:15:00
TESCO CORP LOSS $(35.7) MLN
TESCO reported a net loss of $27.5 million, or $(0.71) per diluted share, for the second quarter ended June 30, 2015. Excluding certain special items, consisting of a valuation allowance on Canadian deferred tax assets, restructuring costs, specific warranty reserves for new products, certain foreign currency losses and specific bad debt expense related to an international customer, TESCO reported an adjusted net loss for the quarter of $8.0 million, or $(0.21) per diluted share. This compares to a net loss of $8.3 million, or $(0.21) per diluted share, in the first quarter of 2015, and net income of $12.7 million, or $0.31 per diluted share, for the second quarter of 2014. Adjusted net loss in the first quarter of 2015 was $3.3 million, or $(0.08) per diluted share, and in the second quarter of 2014 was $11.9 million, or $0.29 per diluted share.
![Prices](/cache/2015/08/USA-34.84d09b3e.jpg)
2015, August, 5, 18:30:00
US OIL DEFAULT
On Aug. 3, US crude prices fell to $45 a barrel. In July, the average price was $60 a barrel. Banks are starting to tighten up their lending standards, further draining liquidity out of the market.
![Prices](/cache/2015/08/RUSSIA-18.1c10eed1.jpg)
2015, August, 5, 18:25:00
SLOW RUSSIAN OIL
Seven months after Russia made the latest changes to its oil tax regime, the industry seems to have been able to adapt more easily to the new landscape than had been expected at the turn of the year.
However, market experts have warned that the government must consider more fiscal reforms as the current system is continuing to distort the sector.
The so-called tax maneuver, which includes a phased reduction in export duty for crude and oil products over 2015-2017 and an increase in oil extraction tax, was introduced in January.
![Prices](/cache/2015/08/NORTH-SEA-1.c9d7bb1c.jpg)
2015, August, 5, 18:20:00
NORTH SEA OIL
Oil and gas production from the North Sea is expected to increase for the first time in 15 years despite a global slump in the price of crude and hundreds of job losses in the industry.