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South Korea Economy - May 2016
South Korea Economy - May 2016 South Korea >> 5/29/2016 - The economic situation in South Korea is slowing down slightly. The GDP growth rate during the 1Q16 stood at 2.7%, which is in line with expectations. Exports remain weak and in April declined again b...
Hercules Offshore to File for Bankruptcy a Second Time
United States >> 5/27/2016 - Hercules Offshore Inc planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection. The company said it had entered into a restruc...
Brent Oil Breaks above $50 for First Time in Seven Months
United States >> 5/26/2016 - Oil prices hit $50 a barrel for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add t...
US Consumers Continue to Take Advantage of America’s Energy Revolution
United States >> 5/26/2016 - U.S. consumers continue to take advantage of America’s energy revolution and affordable gas prices as we head into the summer driving season, said API Chief Economist Erica Bowman on a conference call...
API Welcomes 2016 National Energy Discussion
United States >> 5/26/2016 - API Executive Vice President Louis Finkel said the industry is glad to see energy become a part of the national discussion because it’s important to consumers, the economy, and our national security. ...
DONG Energy IPO Pricing Indicates Market Value of up to $16 bln
Denmark >> 5/26/2016 - Denmark's DONG Energy set an indicative price range for its planned initial public offering (IPO) implying a market value of 83.5 billion to 106.5 billion Danish crowns ($12.6-16.0 billion). ...
Estimate for 2015 Balance of Supply and Demand - May 2016
Estimate for 2015 Balance of Supply and Demand - May 2016 Austria >> 5/26/2016 - Demand for OPEC crude for 2015 remained unchanged from the previous month to stand at 29.7 mb/d, representing a decline of 0.1 mb/d from the level a year earlier. Within the quarters, both 1Q15 and 3Q...
Receipt of Payment for KRI Oil Exports from Taq Taq Field
Iraq >> 5/26/2016 - Genel Energy plc announces that the Taq Taq field partners have received a payment of $11 million from the Kurdistan Regional Government (‘KRG’) for oil sales during April 2016. ...
Saudi Aramco Said to Appoint JPMorgan, HSBC for Debut Bond Sale
Saudi Arabia >> 5/25/2016 - Saudi Aramco, the world’s largest oil exporter, is working with JPMorgan Chase & Co., HSBC Holdings Plc and Riyad Bank on the company’s first sale of Islamic bonds, people with knowledge of the matter...
Baker Commences Tender Offers for Certain Outstanding Debt Securities
United States >> 5/25/2016 - Baker Hughes Incorporated has commenced a tender offer to purchase for cash up to $1 billion combined aggregate principal amount (the “Maximum Tender Amount”) of its or its subsidiary’s 6.000% Senior ...
ITFC Finances Petroleum Products Supply in Djibouti
Djibouti >> 5/19/2016 - The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed two Murabaha Agreements with the total amount of USD 55 million. The first agre...
India Economy - May 2016
India Economy - May 2016 India >> 5/19/2016 - The improvement in India's February industrial growth was largely limited to solid growth in electricity output that accelerated to 9.6% y-o-y, the highest since September 2015. However, the remaining...
US Slaps China Steel Imports with Fivefold Tax Increase
China >> 5/18/2016 - The US has raised its import duties on Chinese steel makers by more than fivefold after accusing them of selling their products below market prices. ...
Nogaholding Sets up $570mn Finance Facility
Bahrain >> 5/17/2016 - Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA) hosted a dinner last evening to commemorate the successful signing of the US$ 570 million Mu...
McDermott Announces Completion of Amendment to Extend Senior Secured Credit Agreement
United States >> 5/16/2016 - McDermott International, Inc. (MDR) has satisfied all conditions to the amendment to the Company’s Senior Secured Credit Agreement (“Amendment No. 3”) which in part extends the maturity date of the le...
Pemex Pays 92 billion Pesos to Suppliers
Mexico >> 5/16/2016 - ?As part of the of the compromise to meet its obligations to suppliers and contractors, Petroleos Mexicanos, has paid approximately 92 billion pesos and counts with the sufficient solvency to cover th...
Forecast for 2016 Balance of Supply and Demand - May 2016
Forecast for 2016 Balance of Supply and Demand - May 2016 Austria >> 5/15/2016 - Demand for OPEC crude for 2016 remained unchanged from the previous report and is projected to increase by 1.8 mb/d, to average 31.5 mb/d. Within the quarters, both the 2Q16 and 4Q16 remained unchange...
Balance of Supply and Demand - May 2016
Austria >> 5/13/2016 - Demand for OPEC crude in 2015 remained unchanged from the previous report to stand at 29.7 mb/d, which is 0.1 mb/d less than the level a year earlier. In 2016, the demand for OPEC crude is projected...
Saudi Aramco Finalises IPO Options
Saudi Arabia >> 5/13/2016 - Saudi Arabia’s state-owned oil giant Aramco is finalising proposals for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centrepiece of t...
Range Resources Signs Agreement to Reduce Royalty Rates in Trinidad
Trinidad and Tobago >> 5/9/2016 - Range has signed an agreement with the Petroleum Company of Trinidad and Tobago Limited (Petrotrin) to reduce the overriding royalty rates (ORRs) on the Company's producing Morne Diablo, Beach Marcell...

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