Energy Update
BEIJING/VIENTIANE, July 26 (Reuters) - China's foreign
minister has asked U.S. Secretary of State John Kerry to support
the resumption of talks between China and the Philippines over
the South China Sea, following a ruling against Beijing over the
dispute earlier this month.
LONDON, July 26 (Reuters) - British oil major BP
reported lower-than-expected profit for the second quarter due
to weak refining margins and oil prices, prompting another cut
to its 2016 investment budget to below $17 billion.
It's business as usual from the EU side on energy issues. Fears that the UK might miss out on EU funding for energy projects are so far unfounded.
NEW YORK, July 26 (Reuters) - U.S. oil prices topped $50 a
barrel in June, boosting optimism a two-year price rout might
end. Six weeks later, the long hoped for recovery has yet to
take hold.
(Tue, 26 Jul 2016) Higher and more stable crude oil prices are contributing to increased drilling in the United States, which may slow the pace of production declines. Benchmark West Texas Intermediate (WTI) crude oil prices averaged $46.59 per barrel (b) over the past three weeks, a 40% increase over the average price in the first quarter of 2016.
MANILA, July 26 (Reuters) - Pilipinas Shell Petroleum Corp
is looking to raise up to 29.7 billion pesos ($629.24 million)
in what could be the country's third initial public offering
this year, a regulatory filing showed on Tuesday.
BEIJING, July 26 (Reuters) - China's foreign minister has
asked the U.S. secretary of state John Kerry to support the
resumption of talks between China and the Philippines over the
South China Sea, following a ruling against Beijing over the
dispute earlier this month.
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