Oil Shifts From Growth To Survival. Multi-million dollar deal making is accelerating, as confidence slowly returns to oil and gas on the hopes of stabilized prices. [Bloomberg]
Saudi Oil Minister Tempers Expectations For OPEC Meeting. Speaking for the first time publicly since talk of a production freeze emerged, Saudi Arabia’s oil minister said the chances of a freeze are minimal amid market re-balancing. [Reuters]
EIA: OPEC Oil Revenue Sees Major Decline. A report from the U.S. Energy Information Administration finds net revenues for members of OPEC down sharply from just a few short years ago. But analysts say they expect a rebound in demand during the third and fourth quarters of 2016. [UPI]
NATO in favor of political moves in Libya. Following on NATO’s expression of solidarity with the U.N.-backed administration in Libya which has focused on restarting its oil terminals, there is hope for political resolutions as the oil-rich country continues to struggle with sporadic fighting. [UPI]
China’s Biggest Oil Company Sets Sights On Natural Gas. PetroChina Co., which currently has its share of natural gas production at 37 percent, wants half of its output to be gas by 2020. [Bloomberg]
Worlds Energy Demand Boom Seen Peaking By 2050s. According to some analysts, demand for energy is forecasted to grow another 30 percent before peaking in 2050. [Bloomberg]
Global LNG-Asian Prices Steady Amid Glut. Prices are holding steady for Asian spot LNG as challenges persist with supply and demand. [Reuters]
Oil Producers Balk At News Of Alaska’s LNG Project. Major oil companies continue to voice their reluctance to move forward with Alaska’s LNG project, with ExxonMobil now saying it’s not planning to invest in the next phase at all. [Alaska Dispatch News]
Scotland’s North Sea Revenue Collapses. The Scottish government reported that revenues from North Sea oil and gas collapsed by 97 percent in the last financial year. [SkyNews]
Russian Experts Say Nation’s Oil Output Hit High In 2016. Russia is currently on track to pump oil at a new milestone in 2016，with production expected to rise by 1.5-1.6 percent annually to 539 million-540 million tons. [OilPrice]
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