Energy Update
TORONTO, Jan 4 (Reuters) - Canada's main stock index rose to
a fresh 20-month high on Wednesday as financial and industrial
shares led a broad-based rally and Encana Corp jumped
on an improved outlook.
BEIRUT, Jan 4 (Reuters) - Lebanon's new government on
Wednesday passed two decrees concerning oil and gas exploration
blocks, meaning a tender process for offshore reserves, stalled
since 2013, can begin.
TORONTO, Jan 4 (Reuters) - Canada's main stock index opened
higher on Wednesday, a day after hitting a 20-month high, as
industrial and materials stocks gained and Encana Corp
jumped on an upward revision to its margin forecast.
DUBAI, Jan 4 (Reuters) - Arab separatist militants in Iran
said on Tuesday they had blown up two oil pipelines in
coordinated attacks in the western Khuzestan region two days
earlier, though this was subsequently denied by Iran's Interior
Ministry.
Jan 4 (Reuters) - Canadian oil and natural gas producer
Encana Corp said on Wednesday it expects its margins in
2017 to exceed its previous target on lower costs and an
expected rise in output in the second half of this year.
PARIS, Jan 4 (Reuters) - A French court on Wednesday
postponed the corruption trial of the son of Equatorial Guinea's
president until June 19, bringing proceedings to a halt two days
after they had begun.
DUBAI, Jan 4 (Reuters) - State-owned Kuwait Petroleum Corp
(KPC) said on Wednesday it was committed to an oil output cut
agreed by the Organization of Petroleum Exporting Countries at a
meeting in Vienna in November, Kuwait's state news agency KUNA
reported.
SINGAPORE, Jan 4 (Reuters) - Nearly 300 tonnes of oil
spilled into the narrow strait separating Singapore and Malaysia
after a collision between two container vessels, the Singapore
Marine Port Authority (MPA) said on Wednesday.
(Wed, 04 Jan 2017) Crude oil prices ended the year above $50 per barrel (b). Although the annual average West Texas Intermediate (WTI) crude oil price in 2016 was $43/bâdown $5/b from 2015âthe WTI price ended 2016 at $53/b, $16/b higher than at the end of 2015. Similarly, Brent ended the year up $17 from the end of 2015, at $54/b, but the 2016 annual average of $44/b was $8 below the 2015 average.
BEIJING, Jan 4 (Reuters) - The Chinese capital issued its
highest red fog alert for a second day on Wednesday, keeping
highways closed in and around the city which is already under a
smog alert after weeks of choking winter pollution.
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