07262016Tue
Last update: Tue, 26 Jul 2016 07am

Europe

Markets - Energy - Europe

Nigeria's January crude oil exports to reach three-month high LONDON: Total exports of Nigerian crude oil are expected to rise by nearly 10 percent to a three-month high in January, according to initial loading programmes.Nigeria's export plan for January includes a total of at least 61.8 million barrels of oil, or 1.99 million barrels per day (bpd), the highest since October this year.Loading information for at least two programmes was still pending, meaning the total could rise further, but the programme was already five cargoes above the 1.82 million bpd initially planned for December.The oil will face an uphill battle to find outlets, as a growing list of regions hosted unsold cargoes; Nigeria itself still has 25 to 30 of its December cargoes available for sale, and some 10 million barrels loading in November were moved intothe systems of the oil companies who owned them after failing to find spot market buyers at attractive prices.Nigerian state oil company NNPC ...

Markets - Energy - Europe

Russia's Gazprom Neft says expects 2016 investments flat, at 380bn roubles MOSCOW: Gazprom Neft, the oil arm of Russia's top natural gas producer Gazprom, expects 2016 investments unchanged, at around 380 billion roubles ($5.8 billion), the company Chief Financial Officer Alexei Yankevich said during a conference call. He also said that the company projects its financing using average oil price of $45 per dollar for next three years. Copyright Reuters, 2015 ...

Markets - Energy - Europe

Statoil sees lower exploration activity next year OSLO: Oil major Statoil will drill fewer exploration wells next year but will continue to explore in its home base of Norway, offshore Canada and maybe in Russia in 2016, its exploration chief told Reuters on Monday.Statoil, like other oil firms, is cutting costs to protect dividend payments after 18 months of lower crude prices. Last month it said it would cut capital expenditure by another $1 billion to a total of $16.5 billion this ...

Markets - Energy - Europe

Premier Oil says plans further capex cuts in coming years LONDON: Oil producer Premier Oil plans to allocate around $400 million a year in 2017 and 2018 to capital expenditure (capex), it said in a presentation on Monday, as it trims investments to the minimum of projects on its radar.The company said earlier this month next year's capex budget would fall to $650 million, 38 percent lower than this year, as projects such as its North Sea Solan oil field reach completion and exploration spending ...

Markets - Energy - Europe

Med Crude: Urals surges in Surgut tender, provisional plan for Novo out MOSCOW: Urals crude price differentials in the Baltic surged in a spot tender on Monday, while the Novorossiisk provisional loading plan for December showed the port may cut exports compared to the current month. Urals crude exports and transit via the Black Sea port of Novorossiisk were set at 1.7 million tonnes in December. That was down from 1.85 million tonnes set for exports in the final loading plan for November. According to the plan, ...

Markets - Energy - Europe

Ukraine gas stocks down 3pc since start of heating season KIEV: Ukraine's gas reserves have fallen by around 3 percent to 16.6 billion cubic metres (bcm) since the beginning of the heating season in mid-October, data from state gas transport monopoly Ukrtransgas showed on Monday.Ukraine had accumulated about 17 bcm of gas in underground storage as of the end of October, around 1.0 bcm more than a year earlier.Ukraine has said it has enough gas to safeguard supply in winter and ensure stable transit of ...

Markets - Energy - Europe

Statoil says to present two field development plans in 2016 OSLO: Oil major Statoil will present development plans for its Trestakk and Alfa Central fields next year, the company's field development chief for Norway said on Monday."We'll have two development plans next year," Ivar Aasheim told Reuters on the sidelines of a conference.Trestakk will be submitted for approval by Norwegian authorities in the spring of 2016 while Alfa will come sometime during the year, he said.Statoil plans to select concepts for its Arctic Castberg discovery ...