Energy Update

You are here

Home » Global Read

S&P downgrades stand alone credit profile for Mexico's Pemex

MEXICO CITY, Jan 29 (Reuters) - Credit ratings agency Standard & Poor's said on Friday it had downgraded the stand-alone credit profile for Mexican national oil company Pemex one notch, to BB from BB+, due to low oil prices.

UPDATE 1-Hedge Funds' boost bullish bets in U.S. crude oil -CFTC

(Adds details on data, context, quote) Jan 29 (Reuters) - Hedge funds raised their bullish bets on U.S. crude oil, data showed on Friday, amid expectations that oil prices finally may have bottomed, after a global supply glut has sent prices plunging to 12-year lows. Money managers, including hedge funds and other big speculators, raised their combined futures and options position in New York and London by 15,717 contracts to 68,053 in the week to Jan. 26, the U.S. Commodity Futures T

UPDATE 5-Oil industry relieved as Alberta holds royalties steady

CALGARY, Jan 29 (Reuters) - Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating fears that costs would rise to punishing levels amid the worst crude price slump in decades.

UPDATE 1-Phillips 66 may consider higher stake in Bakken pipeline project

HOUSTON, Jan 29 (Reuters) - Phillips 66 may consider increasing its 25 percent stake in Energy Transfer Partners' pipeline project to move North Dakota Bakken oil to Illinois and Texas, but likes its current commitment as is, President Tim Taylor told analysts on Friday.

UPDATE 1-Speculators boost U.S. natural gas net shorts for 2nd week -CFTC

Jan 29 (Reuters) - U.S. natural gas speculators boosted their net short positions for a second week in a row as they bet prices would continue to decline on forecasts for weak heating demand for the rest of the winter.

UPDATE 3-Petrobras slashes oil reserves to lowest level in 14 years

* Reduction expected but larger than anticipated (Adds reserve depletion rate 4th paragraph and certification company name, last paragraph)

UPDATE 2-Venezuela oil minister to visit Russia on foreign tour

CARACAS, Jan 29 (Reuters) - Venezuelan Oil Minister Eulogio del Pino will visit Russia on a tour beginning on Saturday of OPEC and non-OPEC countries intended to drum up support for action to stem the tumble in crude prices, the government said.

U.S. natgas futures jump over 5 pct on forecasts for colder weather

(Adds latest prices) Jan 29 (Reuters) - U.S. natural gas futures ended up more than 5 percent on Friday in a short covering rally on forecasts for colder weather through the middle of February that should boost heating demand. After trading within a few cents of unchanged for eight straight days, front-month gas futures on the New York Mercantile Exchange closed up 11.6 cents, or 5.3 percent, at $2.298 per million British thermal units.

UPDATE 1-U.S. oil production falls in November, shale output rises - EIA

NEW YORK, Jan 29 (Reuters) - U.S. crude oil production fell for a second month in November due to a drop offshore, but higher output from the biggest shale states highlighted the industry's surprising resilience.

UPDATE 1-New York area ports shut down after dock workers walk out

NEW YORK, Jan 29 (Reuters) - New York and New Jersey's cargo terminals shut down on Friday after more than a thousand longshoremen walked off the job, shuttering one of the country's busiest port networks.

Pages

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

Photos