Energy Update

You are here

Home » Global Read

BHP Billiton cuts 2016 spending, iron ore cost forecast

LONDON, May 12 (Reuters) - BHP Billiton , the world's largest mining company, said on Tuesday it would cut its capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.

UPDATE 1-Norway's Statoil shakes up top management, replaces CFO

OSLO, May 12 (Reuters) - Norwegian oil firm Statoil replaced its chief financial officer on Tuesday and appointed several new top managers, continuing a shake-up since its chief executive was poached by rival BG Group last October.

Cape order intake falls on contract delays, project deferrals

May 12 (Reuters) - Energy services provider Cape Plc said orders in the first quarter fell sequentially, hurt by delays in key contracts in the UK and project deferrals at its Motherwell Bridge unit.

Falkland Islands oil explorers resume drilling work after repair

LONDON, May 12 (Reuters) - Oil drillers Falkland Oil and Gas and Rockhopper resumed normal drilling work on Monday at the Isobel Deep well in the Falkland Islands following the repair of a blow-out preventer control system, the companies said.

Kenya oil product imports likely to hit record, offset tepid Asia demand

SINGAPORE, May 12 (Reuters) - Kenya is set to import record volumes of oil products in May as its economy gathers steam, soaking up some of Asia's excess supply and helping put a floor under refining margins.

ExxonMobil ramps up production at new Indonesian oilfield

SINGAPORE, May 12 (Reuters) - ExxonMobil has begun ramping up production at a new Indonesian oilfield, targeting peak output later this year of more than 200,000 barrels per day (bpd) that will add to an already oversupplied crude market.

European producers under pressure on softer aluminum 'all-in' price

The 'all-in' price has fallen on the back of lower global premia, while the LME aluminum cash price has largely remained unchanged.

New supply patterns and additional disruptions push California gasoline prices higher

(Tue, 12 May 2015) Supply disruptions in the tightly balanced and relatively isolated California gasoline market have increased wholesale and retail gasoline prices over the past several weeks. This comes after markets had adjusted to compensate for lost production following the February explosion and fire at ExxonMobil's refinery in Torrance, California.

Australia shares firmer as banks make tentative comeback, Qantas soars

SYDNEY/WELLINGTON, May 12 (Reuters) - Australian shares rose on Tuesday with some of the major banks showing signs of life after a recent drubbing, while Qantas climbed to seven-year highs after issuing an upbeat outlook.

UPDATE 1-Oil prices dip on oversupply, worries over Greece

* OPEC to publish monthly report on Tuesday (Adds comment, updates prices)

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