Energy Update
LONDON/LAGOS, Aug 21 (Reuters) - Oil companies and even
Nigerian officials are losing faith in a deal anytime soon with
militants who have slashed the nation's oil output, casting
doubt on a production recovery in what is typically Africa's
largest oil exporter.
SYDNEY, Aug 22 (Reuters) - Australia's Fortescue Metals
Group Ltd, the world No. 4 iron ore producer, reported
a tripling of its annual net profit on Monday to nearly $1
billion and said it could shoulder a big jump in future dividend
payouts.
The second quarter was a pivotal three months that saw rising crude prices and rig counts, well performance improvements and a brighter tone from US upstream operators who had weathered a tough downturn, and ominous crude prices in early 2016.
(Mon, 22 Aug 2016) Based on projections in the U.S. Energy Information Administration's <em>Annual Energy Outlook 2016</em> (AEO2016), U.S. tight oil production is expected to reach 7.08 million barrels per day (b/d), and shale gas production is expected to reach 79 billion cubic feet per day (Bcf/d) in 2040.
NEW YORK, Aug 22 (Reuters) - China's diesel, gasoline and
kerosene exports surged in July from a year earlier, customs
data showed on Monday, the latest sign the world's top
commodities consumer can't cope with its domestic oversupply of
fuel.
SYDNEY, Aug 22 (Reuters) - Australian construction company
CIMIC Group said on Monday it had started court
proceedings in the United States against Chevron Corp
and KBR Inc, seeking as much as A$1.86 billion ($1.42
billion) regarding a dispute over the jetty at the Gorgon LNG
project in Western Australia.
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