Proposed new US sanctions on Russia approved by the Senate could have “unintended consequences”, hitting US jobs and oil and gas projects around the world, the industry has warned.
US Energy Sec. Rick Perry observed, “History teaches us that the world is not stagnant. Mexico had one of its biggest natural gas discoveries in history last week. I’ve just returned from talks with government leaders there, and I believe Mexico will become an even bigger oil and gas supplier as we go about building this new North American energy partnership.”
IMF: Canada’s economy expanded at an annual pace of nearly 4 percent in the first quarter of 2017—the fastest growth rate among the Group of 7 countries. With the economy’s adjustment to lower oil prices almost complete, growth is expected to accelerate to 2.5 percent this year, up from 1.5 percent in 2016.
The energy ministry is forecasting that crude production in Russia will fall by 0.6% year on year to 549.1 million mt, or 11.027 million b/d on average, in 2017 on the extension of the output cut deal.
“If you connect the dots, it is clear that Russia is funding US environmental groups in an effort to suppress our domestic oil and gas industry, specifically hydraulic fracturing,” Committee Chairman LaMar Smith (Tex.) said on July 7 as he released a letter he and Energy Subcommittee Chairman Randy Weber (Tex.) sent to Mnuchin.
India, the world's third-largest oil importer, will import crude oil from the United States for the first time after Indian Oil Corp bought a cargo that will be delivered in October.
U.S. Rig Count is up 512 rigs from last year's count of 440, with oil rigs up 412, gas rigs up 101, and miscellaneous rigs down 1 to 0. Canadian Rig Count is up 94 rigs from last year's count of 81, with oil rigs up 68, gas rigs up 27, and miscellaneous rigs down 1 to 0.
"Our gas in Europe sees increasing demand. Gas export pipeline Nord Stream is in demand by more than 100%. On certain days at the last fall/winter season, the flow stood at 111% of its capacity," Miller said.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $46.5 billion in May, down $1.1 billion from $47.6 billion in April, revised. May exports were $192.0 billion, $0.9 billion more than April exports. May imports were $238.5 billion, $0.2 billion less than April imports.
Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region.
Bob Dudley, BP group chief executive, said: “Global energy markets are in transition. The longer-term trends we can see in this data are changing the patterns of demand and the mix of supply as the world works to meet the challenge of supplying the energy it needs while also reducing carbon emissions. At the same time markets are responding to shorter-run run factors, most notably the oversupply that has weighed on oil prices for the past three years."
The worldwide rig count for May 2017 was 1,935, up 18 from the 1,917 counted in April 2017, and up 530 from the 1,405 counted in May 2016.
The US Energy Information Administration lowered its crude-oil price forecast and raised its US production outlook for 2018. The lower price forecast reflects the possibility of a return to modest oversupply in global oil markets in 2018.
IMF - advancing decisively on the structural reform agenda to improve growth potential and rebalance growth towards non-commodity sectors.
Проекты нескольких интеграционных инициатив - Один пояс, один путь, Северный морской путь, ЕАЭС, АСЕАН - вместе могли бы создать каркас будущей Евразии