BAKER HUGHES A GE - U.S. Rig Count is down 4 rigs from last week to 1,044, with oil rigs down 2 to 859, gas rigs down 3 to 183, and miscellaneous rigs up 1 to 2. Canada Rig Count is unchanged from last week at 223 rigs, with oil rigs down 2 to 152 and gas rigs up 2 to 71.
REUTERS - The bill includes restrictions on new Russian sovereign debt transactions, energy and oil projects and Russian uranium imports, and new sanctions on Russian political figures and oligarchs.
U.S. FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-3/4 to 2 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.
TRANSCANADA - TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) today announced net income attributable to common shares for second quarter 2018 of $785 million or $0.88 per share compared to net income of $881 million or $1.01 per share for the same period in 2017.
WNN - it was announced that Brookfield Business Partners, together with institutional partners - collectively known as Brookfield - had agreed to acquire 100% of Westinghouse from Toshiba for about USD4.6 billion.
U.S. EIA - U.S. energy expenditures declined for the fifth consecutive year, reaching $1.0 trillion in 2016, a 9% decrease in real terms from 2015. Adjusted for inflation, total energy expenditures in 2016 were the lowest since 2003. Expressed as a percent of gross domestic product (GDP), total energy expenditures were 5.6% in 2016, the lowest since at least 1970.
U.S. BEA - The U.S. direct investment abroad position, or cumulative level of investment, increased $427.3 billion to $6,013.3 billion at the end of 2017 from $5,586.0 billion at the end of 2016, the foreign direct investment in the United States position increased $260.4 billion to $4,025.5 billion at the end of 2017 from $3,765.1 billion at the end of 2016.
PEMEX - Pemex achieved total sales for 254 billion pesos in the second quarter of 2018, a figure 36% higher than the result obtained during the same quarter of the previous year. Operating yields were 120 billion pesos, a growth almost 37% greater than the second quarter of 2017. Operation, management, distribution and sales costs remained stable and aligned with the current austerity and expenditure policies.
NYT - Demand for natural gas — a cleaner-burning fossil fuel than coal or oil — is rising worldwide, and the United States is a growing supplier of liquefied natural gas, or L.N.G. The European Union, meanwhile, wants to diversify its energy supply, which remains somewhat dependent on Russia, with which it has a difficult relationship.
REUTERS - The new supply could enlarge Brazil’s market share in China as buyers there cut oil imports from the United States following Beijing’s announcement it would impose tariffs on U.S. crude in retaliation against similar moves by Washington.
U.S. BEA - Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018 , according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.
BAKER HUGHES A GE - U.S. Rig Count is up 2 rigs from last week to 1,048, with oil up 3 to 861, gas rigs down 1 to 186, and miscellaneous rigs unchanged at 1. Canada Rig Count is up 12 rigs from last week to 223, with oil rigs up 12 to 154 and gas rigs unchanged at 69.
EIA - Capital expenditures for these 46 companies totaled almost $19 billion in the first quarter of 2018, a year-over-year increase of nearly $2 billion (10%). Most of these companies have announced that they expect to increase full-year 2018 capital expenditures from 2017 levels.
PLATTS - China's crude oil imports from the US for July have fallen sharply from June, and are expected to drop even further for August, vessel tracking data showed, as Beijing's tariffs on US crude imports get closer to implementation.
BP - “This is a transformational acquisition for our Lower 48 business, a major step in delivering our Upstream strategy and a world-class addition to BP’s distinctive portfolio. Given our confidence in BP’s future – further bolstered by additional earnings and cash flow from this deal – we are increasing the dividend, reflecting our long-standing commitment to growing distributions to shareholders.”