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Gazprom Cancels Gas Discount for Turkey
Russia >> 1/29/2016 - Russia's Gazprom has cancelled a discount in gas prices for Turkish customers, industry officials said, in the latest salvo in a diplomatic and trade row after Turkey shot down a Russian war plane two...
Petrobras Slashes Oil Reserves to Lowest Level in 14 Years
Brazil >> 1/29/2016 - Brazil's state-controlled oil producer Petrobras slashed its oil and natural gas reserves 20 percent, hit by a plunge in energy prices, a heavy debt load, high costs and a corruption scandal. ...
Petrobras to Cut Staff, Aims to Save $442m A Year
Brazil >> 1/28/2016 - Petroleo Brasileiro SA will cut staff and restructure management to adapt to dwindling oil prices and prioritize high-yield projects, the state-controlled oil producer said in a statement. ...
Asia Pacific Oil Demand in January 2016
Asia Pacific Oil Demand in January 2016 Japan >> 1/28/2016 - Japanese oil demand decreased sharply in November by 0.23 mb/d, a decrease of more than 6% y-o-y, with all main petroleum product categories declining, particularly residual fuel oil, gasoline, naphth...
IMF & World Bank Discussing Possible Aid to Oil Exporter Azerbaijan
Azerbaijan >> 1/27/2016 - The International Monetary Fund and World Bank are discussing possible financing assistance for Azerbaijan to help it cope with mounting currency pressures and other fallout from a steep drop in oil p...
Aramco Expects to See Oil Prices Pick Up by End-Year
Saint Lucia >> 1/26/2016 - National oil giant Saudi Aramco expects to see oil prices pick up by the end of this year, the company's chief executive Amin Nasser said. ...
World Bank Lowers 2016 Oil Price Forecast
United States >> 1/26/2016 - The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. ...
Libya Lost $68 Bln in Oil Revenue since 2013
Libya >> 1/25/2016 - The drop in Libya's oil production in recent years as a result of unrest has resulted in $68 billion in lost revenue, National Oil Corp Chairman Mustafa Sanallah said. ...
PDVSA Average Production Cost is $13 per Barrel
Venezuela >> 1/22/2016 - People's Minister of Petroleum and Mining and President of Petroleos de Venezuela, S.A. (PDVSA) Eulogio Del Pino, said that the average cost of oil production in Venezuela is $13 per barrel. ...
The Time Comes to Take the Reins of the Oil Market
Venezuela >> 1/20/2016 - At the installation ceremony of the National Council on Productive Economy, held at the Teresa Carreno Theater in Caracas, President of the Bolivarian Republic of Venezuela Nicolas Maduro, called on ...
Husky Energy Updates 2016 Guidance
Canada >> 1/19/2016 - Husky Energy (HSE) is taking additional steps to improve its resilience through the extended low commodity price environment. ...
Oil Price Reaches its Lowest Level since Twelve Years
Oil Price Reaches its Lowest Level since Twelve Years Austria >> 1/19/2016 - The price of OPEC basket of thirteen crudes stood at 23.58 dollars a barrel on 18 January 2015. This is the first time since April 2004 that the Brent crude price has fallen below $30 a barrel. Oil pr...
Algeria Energy Earnings Drop 41 Pct in 2015
Algeria >> 1/19/2016 - Algeria's energy earnings dropped 40.8 percent in 2015 from the previous year, causing a trade deficit of $13.71 billion after a $4.306 billion surplus in 2014, the Finance Ministry said. ...
JBIC, Banks to Loan $3.3B ADNOC
United Arab Emirates >> 1/18/2016 - 1 - The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on January 17 a facility agreement amounting up to USD2.1 billion (JBIC portion) with Abu Dhabi National...
Balance of Supply and Demand - January 2016
Austria >> 1/18/2016 - Demand for OPEC crude in 2015 is estimated at 29.9 mb/d, which is 0.2 mb/d higher than the 2014 level. In 2016, demand for OPEC crude is projected at 31.6 mb/d, which is around 1.7 mb/d higher than ...
Zarif Says Sanctions on Iran Will Be Lifted on Next Saturday
Iran >> 1/16/2016 - International sanctions on Iran will be lifted on Saturday when the International Atomic Energy Agency (IAEA) issues its final report on Tehran's disputed nuclear programme, Foreign Minister Mohammad ...
BHP Takes $7.2 Billion Hit on US Shale Assets
United States >> 1/15/2016 - BHP Billiton expects to recognise an impairment charge of approximately US$4.9 billion post-tax (or approximately US$7.2 billion pre-tax) against the carrying value of its Onshore US assets. This char...
ERHC Energy Inc. Reverse Stock Split Becomes Effective
United States >> 1/15/2016 - ERHC Energy Inc., a publicly traded American company with oil and gas assets in Sub-Saharan Africa, announced that a 100-for-one reverse stock split approved by shareholders has become effective. As i...
Azonto Petroleum Provides Company Update
Ivory Coast (Cote D'Ivoire) >> 1/14/2016 - Azonto Petroleum has worked over the past few months to tidy up legacy issues relating to the disposal of the company's oil and gas activities in West Africa. Following the disposal, a number of corpo...
Ecuador to Pay $980 million to Occidental for Asset Seizure
Ecuador >> 1/13/2016 - Ecuador has reached a deal to pay Occidental Petroleum Corp roughly $980 million by April to compensate the company for seizing its oil field in the Andean country, the attorney general said on Tuesda...

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