Energy Update
July 18 (Reuters) - Bank of America Corp, the
second-largest U.S. bank by assets, reported a 19.4 percent fall
in quarterly profit on Monday as it set aside more money to
cover potential bad loans and earned less on its loans.
DHAKA, July 18 (Reuters) - Bangladesh Petroleum Corp (BPC)
has issued its first tender to buy fuel oil as part of a move
away from direct-term deals with fuel products suppliers in a
bid to achieve cheaper rates.
July 17 (Reuters) - A failed Turkish military coup attempt
briefly closed the Bosphorus Strait to shipping traffic on
Saturday, reminding the world of Turkey's huge and growing
importance as a transit route for commodities between Russia,
Central Asia and Europe.
(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.
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