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Trends

Trends
2016, February, 14, 13:10:00
U.S. INVESTMENT DOWN 35%
Mining and exploration investment declined 35% in 2015, the second largest year-over-year decline since the U.S. Bureau of Economic Analysis (BEA) began reporting the series in 1948.
Trends
2016, February, 14, 13:05:00
BP & OMAN AGREEMENT
BP and Oman Oil today signed a heads of agreement with the Government of the Sultanate of Oman committing to amend the Oman Block 61 exploration and production sharing agreement (EPSA), extending the licence area of the block and enabling a further development of the major Khazzan tight gas field. BP is the operator of Block 61 with a 60% interest and Oman Oil holds the other 40%.
Trends
2016, February, 14, 13:00:00
U.S. RIGS DOWN 30
U.S. Rig Count is down 30 rigs from last week to 541, with oil rigs down 28 to 439, and gas rigs down 2 to 102. Canadian Rig Count is down 20 rigs from last week to 222, with oil rigs down 13 to 118, and gas rigs down 7 to 104.
Trends
2016, February, 11, 19:10:00
ROSNEFT: DEMAND WILL UP
The Head of Rosneft noted that the demand for oil and oil products will be growing. The growth has become more diversified - China's role has diminished, but the share of India, other Asian countries and Africa is gradually growing. “More diversified growth seems more resilient, and confirms that many of the mentioned "threats" of reducing the role of oil in the world economy are largely exaggerated”- Sechin said. According to the Head of Rosneft, “an imbalance between oil supply and demand may significantly reduce already by the end of 2016, and by the end of 2017 even lack of oil supply is possible at the market”.
Trends
2016, February, 11, 19:05:00
RUSSIA DEFENDS MARKETS
“We are working on preserving our traditional markets and we will supply those markets with oil in a competitive battle,” Igor Sechin, Rosneft chief executive officer said in London today.
Trends
2016, February, 11, 18:40:00
U.S. STOCKS DOWN
The Dow Jones industrial average was down 82 points, or 0.5 percent, to 15,944 as of 12:18 p.m. Eastern Time. The Standard & Poor’s 500 slipped eight points, or 0.5 percent, to 1,844. The Nasdaq composite fell 17 points, or 0.4 percent, to 4,266. Stocks posted steep slides Monday and Friday.
Trends
2016, February, 9, 18:45:00
U.S. OIL DOWN 92,000
Crude oil production in March from seven major US shale plays is expected to fall 92,000 b/d to 4.92 million b/d.
Trends
2016, February, 9, 18:40:00
OIL MARKET BALANCE
Based on those trends, and even with the prospective increase in Iranian production, the oil market is likely to move closer into balance by the latter part of this year. That will still leave a significant inventory overhang that will take some time to work off. But it seems likely that the market will show at least some signs of turning by the end of this year.
Trends
2016, February, 9, 18:35:00
OIL: BE BIGGER
Supply may exceed consumption by an average of 1.75 million barrels a day in the period, compared with an estimate of 1.5 million last month, and the excess could swell if OPEC adds more output, the IEA said. Iran raised production in January following the removal of international sanctions, Iraqi volumes reached a record and Saudi Arabia also ramped up output. The agency trimmed estimates for global oil demand.
Trends
2016, February, 7, 16:50:00
SHELL'S PRICES OPTIMISM
The global oil market will rebalance later this year, paving the way for a recovery in crude prices from their lowest level in more than a decade, according to Royal Dutch Shell’s chief executive.
Trends
2016, February, 4, 19:15:00
CUTTING JOBS & INVESTMENTS
Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge. “It’s going to be a very turbulent year for our industry,” says BP CEO Bob Dudley.
Trends
2016, January, 28, 19:15:00
2015: OIL GAS M&A DOWN
The upstream, oil field services, midstream, and downstream businesses during the year collectively saw just 379 M&A deals take place, down from the 709 that occurred in 2014, and 409 and 389 that respectively took place in 2008 and 2009 amid the Great Recession. Total value in 2015 was $286.23 billion, down from $353.97 billion in 2014.
Trends
2016, January, 28, 18:45:00
PRICE WILL BE HIGHER
"The simple fact is that the accepted oil narrative has become uniformly negative," he said. "Prices will eventually have to move to a level that creates supply rather than destroys it.... We believe that price to be well above current levels."
Trends
2016, January, 26, 19:30:00
EUROPEAN LNG PROBLEM
The stress test had definitely shown that “we still need additional infrastructure, but not everywhere – we really need to target investment where it's really needed and have the projects of common interest (“PCI's”) and how Europe promotes investments should really be targeted to regions where we do need investments.”
Trends
2016, January, 26, 19:25:00
GAS PRICES WILL UP BY 67%
The average natural gas spot price at the benchmark Henry Hub for December 2015 of $1.93 per million British thermal units (MMBtu) was the lowest monthly average since March 1999. EIA expects natural gas prices to rise, averaging $2.65/MMBtu in 2016 and $3.22/MMBtu in 2017. Expected price increases reflect consumption growth, mainly from the industrial sector, that outpaces near-term production growth.