Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said it offered to pay $1.50 a barrel Friday for North Dakota Sour, a high-sulfur grade of crude, according to a corrected list of prices posted on its website Monday. It had previously posted a price of -$0.50. The crude is down from $13.50 a barrel a year ago and $47.60 in January 2014.

Iran is in a good position to deliver on its target to raise oil output by 500,000 b/d within six weeks and by a further 500,000 b/d six months after that.

Particular attention was given to the Nord Stream 2 project. The parties noted that in light of the declining European gas production, the construction of this gas pipeline was crucial for meeting the growing Russian gas demand in Europe in the future.

Ukraine, once one of Russia’s biggest foreign gas buyers, had a debt of more than $29 billion before Tuesday’s bill, according to Gazprom. Naftogaz has demanded almost $26 billion from Gazprom in Stockholm arbitration, claiming it overpaid for supplies and was paid too little for transit, with a court ruling not expected before the middle of the year.

Nord Stream 2 will be built, according to Gazprom’s chairman of the board, Viktor Zubkov. “This means that customers will receive gas at favorable prices, but for this we need reliable sources of supply and uninterrupted means of transportation,” he said.

В ходе встречи обсуждался ход реализации проекта строительства в Пакистане газопровода «Север-Юг», который станет первым крупным совместным проектом в нефтегазовой сфере в новейшей истории двух стран, и перспективы поставок сжиженного природного газа на регазификационные мощности Пакистана.

According to preliminary figures for 2015, the gas deliveries grew by 23.6 per cent to 1.7 billion cubic meters.

Iran's annual average crude oil production is forecast at 3.1 million b/d in 2016 (10% of projected total OPEC production), and almost 3.6 million b/d in 2017.

Therefore, oil prices will rise once more people study the long-term dynamics of oil markets instead of trading on and exploiting the short term news. On the Chicago Mercantile Exchange, WTI for delivery in February 2017 closed at US$37.08 a barrel on January 19, 23% higher than the market closing price for the day.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at $30.64 a barrel at 0634 GMT, up $1.11 in the Globex electronic session. March Brent crude on London’s ICE Futures exchange rose $1.36 to $30.61 a barrel. At one point, Brent prices reached $31.10 a barrel and Nymex rose as high as to $31.04 a barrel.

Schlumberger Chairman and CEO Paal Kibsgaard commented, "Full-year 2015 revenue of $35.5 billion decreased 27% year-on-year in line with upstream capex spending cuts that resulted in significantly lower E&P investment levels."

Investors have pulled billions from US stock funds for the third straight week amid sharp market gyrations, which have frayed investor nerves as global equity bourses slid deeper into correction territory.

U.S. Rig Count is down 13 rigs from last week to 637, with oil rigs down 5 to 510, and gas rigs down 8 to 127.

The biggest increase was seen in the consumption of gas-to-power by industrial customers, which increased by 161% to reach a total of 10.8% of overall consumption. The transmission operator attributes the increase in industrial demand to "favourable economic conditions."

"Just because I’ve built a pipeline, that doesn't mean that you have to buy my gas, the idea that that somehow it's undermining diversification of sources is just not true."

Estimated development oil well completions in 2015 fourth quarter fell 55 percent compared to 2014 fourth quarter estimates. Estimated development gas completions decreased 37 percent over the same period.

The February crude oil contract on the New York Mercantile Exchange gained $1.81 to settle at $29.53/bbl on Jan. 21. The March contract was up $1.14 to settle at $30.83/bbl. The NYMEX natural gas contract for February gained 2¢ to a rounded $2.14/MMbtu. The Henry Hub gas price was $2.20/MMbtu on Jan. 21, up 6¢.

Стороны обсудили вопросы экспорта российского газа в Италию. В 2015 году, по предварительным данным, он вырос на 12,6% по сравнению с 2014 годом и составил около 24,4 млрд куб. м газа, а с 1 по 20 января 2016 года увеличился на 24,5% по сравнению с аналогичным периодом 2015 года. Италия является одним из ключевых экспортных рынков «Газпрома» и в 2015 году заняла третье место среди стран дальнего зарубежья по объему поставок российского газа.

U.S. stocks are rising Friday as energy prices continue to climb and give a boost to energy companies. A global rally lifted stocks in Asia and Europe. After two days of gains, major indexes in the U.S. are set to rise for the first week in the last four.

From 2014 to 2040, we see global demand for energy rising by 25 percent. This increase is equivalent to the total energy used in North America and Latin America today.