10月16日油气行业十大新闻

Kashagan Starts to Flow from the $50B Field. Andrew Neff of IHS Energy said that restarting production provides some return but the real payoff will be phase two.

Brent and WTI Keep Climbing. Traders and analysts go to war over what the price of oil should be, but traders are winning. Brent over $52 and WTI climbing up and away from $50.

UK Favors Goldman in Libyan Dispute. Goldman Sachs wins $1.2 billion dispute with Libya’s $67 billion sovereign wealth fund over nine disputed trades. Traders win again!

Nat Gas Better Have a Cold Winter. Mr. Rapier warns on natural gas prices. Inventories on the high-end of the five year average are just one of the many risks.

Shell Vendors Salivate. The Belinda project is looking hopeful. Once a Sterling Resources asset, Belinda is looking like a development that will require significant capital expenditure.

Russia’s Signals Aren’t Really Mixed. Putin would only cut if OPEC itself abides and Rosneft’s commitment to keep pumping comes from disbelief in the cuts.
Freeport McMorRan Bails on California. $724M has provided Sentinel Peak Resources with all of Freeport McMoRan’s Cali onshore sets. FreePort jumped into the U.S. market as quickly as it is jumping out.

Royal IHC Cuts Hard. Hundreds laid off including COO. Dave Vander Heyde and Arie Vergunst are left to manage the downturn in what can only be a culture of depression.

Brazilian Senator Heads to Jail. Nineteen years for corruption, money laundering, and obstruction of justice. Brazil’s top prosecutor continues his witch-hunt including sixty-six current and former lawmakers and hundreds of business folk. Somebody wants to be President of Brazil.

UAE Calls U.S. Shale To Cut Production. I am almost did not post this but figured everyone could use a good laugh on Friday. The US is cutting production just not as part of a cartel but as a function of capitalism. This OPEC jibber-jabber is starting to bore me.