Trends
2016, May, 19, 19:55:00
CHINESE-RUSSIAN TARGET: $100 BLN
China is Russia’s biggest single trade partner, with its share rising to 12.8 percent from 12 percent in 2015. Even so, the overall turnover of goods fell by 26 percent last year to $68.1 billion. That means the countries are far off reaching their target of $100 billion in trade.
2016, May, 19, 19:45:00
RUSSIAN OIL UPDOWN
Perhaps the biggest hurdle is Russia’s business climate. While frequently fodder for criticism, there’s progress. Russia has surged by 61 spots in the World Bank’s Ease of Doing Business Index since 2013 to 51st this year.
2016, May, 16, 21:05:00
IEA: OIL DEMAND UP
Global oil demand growth for 1Q16 was revised upwards to 1.4 mb/d, led higher by strong gains in India, China and, more surprisingly, Russia. For the year as a whole, growth will be around 1.2 mb/d, with demand reaching 95.9 mb/d.
2016, May, 16, 21:00:00
OIL MARKET DEFICIT
Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.
2016, May, 16, 20:50:00
OPEC: OIL DEMAND UP
World oil demand in 2015 grew by around 1.54 mb/d, unchanged from last month’s report. Total oil consumption averaged 92.98 mb/d. In 2016, world oil demand is projected to rise by 1.20 mb/d to reach 94.18 mb/d, unchanged from last month’s projections, despite upward revisions to Other Asia, which were counterbalanced by downward revisions to Latin America and China.
2016, May, 16, 20:45:00
RUSSIA'S POSITIVE SIGNALS
Russia’s economy is closer to growth than at any time since it slid into recession and central bank Governor Elvira Nabiullina is focusing on what she says are “positive signals.”
2016, May, 16, 20:35:00
MAJORS INVESTMENTS
“Markets fluctuate, but we know that science does not. You have to be patient. The cycle from discovery to deployment can take decades.”
2016, May, 16, 20:30:00
SAUDI WITHOUT REFORMS
Without any of those reforms, Saudi Arabia’s financial troubles would continue to intensify.
2016, May, 15, 11:10:00
OIL MARKET BALANCE
Changes to the data in this month’s confirm the direction of travel of the oil market towards balance. The net result of our changes to demand and supply data is that we expect to see global oil stocks increase by 1.3 million b/d in the first half of 2016 followed by a dramatic reduction in the second half of 2016 to 200,000 b/d.
2016, May, 12, 20:30:00
U.S. SECURITY THREAT
The United States is deeply concerned about the Nord Stream-2 gas pipeline project as a threat to national security, a senior U.S. energy envoy said on Friday, after the issue was raised at talks in Washington this week.
2016, May, 12, 20:25:00
OIL PRICES: 2016: $41; 2017: $51
Brent crude oil prices are forecast to average $41/b in 2016 and $51/b in 2017.
2016, May, 12, 20:20:00
ASIAN GROWTH IS GLOBAL
Rising incomes in China, India, and other emerging Asia economies are a key driver of the global energy outlook. Developing Asia accounts for more than half of the projected increase in global energy use through 2040. This increase will have a profound effect on the development of world energy markets. Clean energy technologies play an important role in the outlook, with renewables expected to be the fastest-growing energy source.
2016, May, 12, 20:10:00
AZERBAIJAN AIMS FOR 50 BLN
Azerbaijan can boost annual gas exports to 50bn m3 by 2050, deputy energy minister Natig Abbasov said recently.
2016, May, 10, 18:10:00
RUSSIA NEEDS EUROPE
Policymakers always worry about Russia having too much market share of European gas, but from my point of view Russia needs Europe a lot more than Europe needs Russia. The reason for that is that gas has been losing market share in Russia and in Ukraine. Russia’s projects to straddle across to Asia are not progressing so well and also its LNG projects are not progressing quickly. So really the only game in town is Europe, particularly from a price perspective. However, that means that their dependency on Europe is growing so policymakers do not need to worry about Russia.
2016, May, 9, 19:20:00
THE NEXT ENERGY WAR
If this price drop does happen, then Norway will be caught in the crossfire, as its production is more expensive than Gazprom's. Further, Gazprom has already developed the giant Bovanenkovo field in the Yamal Peninsula, where output has been curtailed as export markets and Gazprom's own domestic demand have have not required the additional gas. This means it is in a position to bring more cheap gas to market at little additional cost beyond transport. For Norway, however, adding more production capacity entails more capital expenditure.