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Monday, 25 April 2016
Iran Poised to Garner Market Share in #OIL
Iran's oil exports are growing much more quickly than analysts predicted back in January when sanctions were eased. If the recovery continues at its recent pace, it could raise an interesting dilemma at OPEC's next meeting in June.
Oil production from the North Sea posted gains in 2015 for the second year in a row, but the recent uptick in output could be a blip in the region’s long-term decline. Oil companies added 160,000 barrels per day last year from North Sea projects in the UK and Norway, according to the IEA . However, those gains came from projects that were planned years ago when oil prices traded above $100 per barrel. With Brent crude declining by more than 60 percent from mid-2014, North Sea oil producers have slashed spending, scrapped projects and are looking to sell off assets. The IEA summed it up in its latest monthly Oil Market Report: “North Sea projects fall victim to oil price slump.” For example, Det Norske, a Norwegian oil producer, is “shopping cheap assets” and is contemplating scrapping its Vette project, which it purchased from Premier Oil just last […]
Saudi Arabian Oil Co., the largest energy firm in the world, is considering listing up to 5% of its value on a stock exchange in New York within the next year, a top Saudi oil official said Thursday. By listing even a tiny fraction of the company, known as Saudi Aramco, the offering would create one of the world’s most valuable energy firms. Estimates of Saudi Aramco’s value have varied, but using a conservative number of $2.5 trillion , a 5% listing would give it a potential value of $125 billion—bigger than BP BP -0.38 % PLC and French oil titan Total SA TOT -0.49 % . The Saudis are considering listing Aramco at a time when the kingdom is trying to raise cash during a period of sharply lower oil prices and transition […]
Posted by Unknown at 16:20
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