Tag Archive

Can Saudi Arabia Prevent The Next Oil Shock?

Can Saudi Arabia Prevent The Next Oil Shock?

June 15, 2018 No Comments

The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi […]

Global energy demand growth above its 10-year average

Global energy demand growth above its 10-year average

June 13, 2018 No Comments

Introducing the 2018 edition of the BP Statistical Review of World Energy, Bob Dudley, BP group chief executive, said: “2017 was a year where structural forces in the energy market continued to push forward the transition to a lower carbon economy, but where cyclical factors have reversed or slowed some of the gains from prior […]

Oil Kingdom In Crisis

Oil Kingdom In Crisis

June 6, 2018 No Comments

Saudi Arabia has plunged its immediate region into major strategic uncertainty. What can only be described as a serious outbreak of shooting in the Royal Palace in Riyadh on April 21, 2018, was the catalyst for events which could determine the fate of the Crown, the Kingdom, and the regional competition, particularly with Iran, for […]

Russia expects average oil price in 2018 to be $65-70 per barrel

Russia expects average oil price in 2018 to be $65-70 per barrel

June 5, 2018 No Comments

Russia’s Economic Development Ministry reportedly expects the average oil price in 2018 at the level of $65-70 per barrel, head of the ministry Maxim Oreshkin said at a meeting of the State Duma’s Committee on Budget and Taxes according to a Tass report. “Our forecast now comprises the figure of $61.4 per barrel, but taking […]

OPEC Reference Basket of Crudes (ORB)

OPEC Reference Basket of Crudes (ORB)

June 1, 2018 No Comments

The price of OPEC basket of fourteen crudes stood at $75.17 a barrel on Thursday, 31 May 2018, compared with $73.72 the previous day, according to OPEC Secretariat calculations. OPEC and non-OPEC producing countries participating in the voluntary production adjustments continue to maintain outstanding levels of conformity to the terms of the historic ‘Declaration of […]

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Oil Price Rally Is Likely

Oil Price Rally Is Likely

April 3, 2018 No Comments

Oil prices seesawed at the start of the week before jumping close to multi-year highs on geopolitical concerns, with Brent hitting $70 and WTI at $65. However, geopolitical pressure is only able to influence oil prices to such a degree because the market is fundamentally getting tighter. Ongoing declines in Venezuela and concerns about heightened […]

WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0million

WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0million

March 21, 2018 No Comments

Wintermar Offshore Marine (WINS:JK) has reported results for the 2017 financial year. WINS Gross Profit for 4Q2017 has risen by 26% QOQ to US$2.0 million as utilization averaged 69% for the quarter, lifting revenue by 10% QOQ to US$18.0 million for the final quarter of the year. Better revenue in 4Q2017 from higher fleet utilization […]

OPEC daily basket price stood at $63.97 a barrel

OPEC daily basket price stood at $63.97 a barrel

March 1, 2018 No Comments

The price of OPEC basket of fourteen crudes stood at $63.97 a barrel on Wednesday, 28 February 2018, compared with $64.99 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), […]

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Tullow Issues Trading Statement & Operational Update

Tullow Issues Trading Statement & Operational Update

January 10, 2018 No Comments

Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial year to 31 December 2017. This is in advance of the Group’s Full Year Results, which are scheduled for release on Wednesday 7 February 2018. The information contained herein has not been audited […]

Development, Production and Awarding Johan Castberg contracts

Development, Production and Awarding Johan Castberg contracts

December 5, 2017 No Comments

Statoil submited the PDO (plan for development and operation) for the Johan Castberg project on behalf of the partnership with Eni and Petoro. Several major contracts will also be awarded to Norwegian industry. “This is a great day! We have finally succeeded in realising the Johan Castberg development. The project is central part of the […]

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