Energy Update
(Mon, 18 Jul 2016) Although the crude oil price decline since 2014 has led to significant reductions in operating cash flow for U.S. oil companies, their immediate financial situations are improving. As oil companies' spending falls and crude oil prices increase, the need for oil companies to find external sources of funding may decline, which could reduce financial strain in the coming quarters.
LAUNCESTON, Australia, July 18 (Reuters) - Iron ore's wild
price gyrations this year may be masking a small, but
significant, shift in the underlying fundamentals for the
steel-making ingredient.
MELBOURNE, July 18 (Reuters) - ExxonMobil Corp has made a
bid worth at least $2.2 billion for Papua New Guinea-focused
InterOil Corp, winning the support of InterOil and
topping an offer from Oil Search Ltd, Oil Search said
on Monday.
LONDON, July 15 (Reuters) - The U.S. natural gas market is
on an unsustainable course as low prices stimulate strong growth
in consumption while production is flat or falling.
MANILA, July 18 (Reuters) - Patrolling downtown Manila in
his new Toyota, Uber driver Daniel Canezal is grumpy. It's not
from the heat, grime or traffic of the capital's clogged streets
- it's the Philippines' ramshackle internet service that is
making his life a misery.
SNC-Lavalin (SNC) has been awarded an engineering consultancy and support services contract by Oryx GTL, a joint venture between Qatar Petroleum (51%) and Sasol of South Africa (49%), for its gas-to-liquids (GTL) complex at Ras Laffan Industrial City in Qatar.
Strainstall, part of James Fisher and Sons, has been awarded a major contract with the Japanese Penta Ocean-Toa joint venture, for its advanced mooring solution to be installed at the Pengerang Independent Deepwater Petroleum Terminal (PIDPT) in Malaysia.
NEW YORK, July 17 (Reuters) - Oil prices were mixed and gold
prices were under pressure on Sunday in early trade as traders
digested the impact from Turkey's military coup, which was
broadly expected to be limited on global markets.
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