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W.Europe

W.Europe
2017, March, 21, 18:40:00
NORWAY'S OIL PRODUCTION DOWN 25,000
Preliminary production figures for February 2017 show an average daily production of 2 010 000 barrels of oil, NGL and condensate, which is a decrease of 25 000 barrels per day (approx. 1 percent) compared to January.
W.Europe
2017, March, 16, 18:35:00
UK OIL & GAS BREXIT
In terms of regulation and policy for the upstream oil and gas industry, much of the EU legislation and directives were either based on established UK customs and practices or are already enshrined in UK law. Although it will take some considerable time to untangle the complex regulatory and policy frameworks, the impact for the oil and gas industry is likely to be modest. In terms of the UK oil and gas tax system, little is expected to change as a result of Brexit as the EU has no remit over the UK’s fiscal regime for the industry.
W.Europe
2017, March, 7, 18:40:00
NORWAY IS BETTER
The Norwegian economy is slowly picking up after a two-year slowdown in its top industry, oil production, due to a halving of crude prices since mid-2014. In recent months, crude prices have risen and stabilised at around $55 per barrel.
W.Europe
2017, February, 28, 18:40:00
SEADRILL NET INCOME $127 MLN
Highlights • Revenue of $667 million • Operating income of $118 million • EBITDA of $354 million • 99% economic utilization • Reported net income of $127 million and diluted net income per share of $0.26 • Underlying net income, excluding non-recurring items and non-cash mark to market movements on derivatives, was $111 million and earnings per share was $0.24 • Cash and cash equivalents of $1.4 billion • Seadrill Limited order backlog of approximately $2.5 billion
W.Europe
2017, February, 22, 19:00:00
NORWAY'S PRODUCTION DOWN 42 TBD
Preliminary production figures for January 2017 show an average daily production of about 2 024 000 barrels of oil, NGL and condensate. This is 42 000 barrels per day (about 2 percent) less than December 2016.
W.Europe
2017, February, 21, 19:05:00
NORD STREAM - 2
Nord Stream 2 to play crucial role in EU’s energy security
W.Europe
2017, February, 18, 19:00:00
GAZPROM - GERMANY: UP 37%
It was noted that Gazprom’s gas supplies to the German market had reached a record of 49.8 billion cubic meters in 2016. The upward trend in gas demand continues in early 2017. In January, gas exports grew by 23.2 per cent versus the corresponding month of 2016. Between February 1 and February 15, gas deliveries added 37 per cent compared to the same period of last year.
W.Europe
2017, February, 11, 19:01:00
EUROPEAN RENEWABLE ENERGY
European utilities will not reduce their investments in renewables if U.S. President Donald Trump lowers U.S. climate goals, encouraged by Chinese and EU political commitments to low carbon energy.
W.Europe
2017, February, 9, 18:35:00
MAERSK LOSS $1.9 BLN
Maersk delivered an unsatisfactory loss of USD 1.9bn (profit of USD 925m) negatively impacted by post-tax impairments of USD 2.8bn (USD 2.6bn) primarily relating to Maersk Drilling of USD 1.4bn (USD 27m) and Maersk Supply Service of USD 1.2bn (USD 0m). In line with the latest guidance provided in November, the under lying profit came at USD 711m (USD 3.1bn). The return on invested capital (ROIC) was negative 2.7% (positive 2.9%). The free cash flow was negative USD 29m (positive USD 6.6bn including the sale of shares in Danske Bank of USD 4.9bn).
W.Europe
2017, February, 7, 18:45:00
EU WITH RUSSIA SANCTIONS
The European Union, although reliant on Russian oil and gas, says it will never recognize Moscow's 2014 annexation of Ukraine's Crimea peninsula and expects the Kremlin to abide by the Minsk peace deal brokered for eastern Ukraine.
W.Europe
2017, January, 31, 18:40:00
SHELL SELLS $3.8 BLN
Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to $3.8bn, including an initial consideration of $3.0bn and a payment of up to $600m between 2018-2021 subject to commodity price, with potential further payments of up to $180m for future discoveries.
W.Europe
2017, January, 31, 18:30:00
SEADRILL RESTRUCTURING UPDATE
Over the past year we have had substantial dialogue with our secured lenders to amend and extend c.USD8 billion in first lien secured debt. During the second half of last year, we began to engage with potential new money investors, including Hemen Holdings Ltd. In December 2016, we formally engaged with an ad hoc committee of bondholders, and agreed that by January 31 2017 we would release through a 6k filing agreed material non-public information disclosed to the ad hoc committee of bondholders, including the Company's latest restructuring proposal and the last proposal that the Company has received from the ad hoc committee.
W.Europe
2017, January, 30, 19:00:00
GAZPROM'S SHARE UP TO 34%
Despite a drive by the European Union to diversify gas supplies and reduce its reliance on Russian imports, Gazprom increased its market share in Europe to 34 percent last year from 31 percent in 2015, posing a challenge to policymakers.
W.Europe
2017, January, 20, 18:30:00
NORWAY'S PRODUCTION DOWN 60 TBD
Preliminary production figures for December 2016 show an average daily production of 2 094 000 barrels of oil, NGL and condensate, which is a decrease of 60 000 barrels per day (approx. 3 percent) compared to November.
W.Europe
2016, December, 28, 18:40:00
GAZPROM'S OFFER FOR EUROPE
The company has already made contractual changes that remove restrictions on reselling gas and that require Gazprom to forgo any advantage gained from making gas supplies conditional on acceptance of gas pipelines. These changes came about because of pressure from the commission and increased competition on the European energy market.