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21 августа, 23:22

Lithuania Gets First LNG Cargo From The U.S.

Lithuania today received its first cargo of U.S. liquefied natural gas (LNG) as it tries to diversify its gas supplies away from Russia, despite Moscow’s insistence that the United States can’t replace Russian gas in Europe even if it gave it away.  While Russia is undermining the U.S. shipments to Europe, Lithuania is Central and Eastern Europe’s second country to have received U.S. LNG cargo after Poland.   In June, Lithuania’s state-held gas trader Lietuvos Duju Tiekimas signed a deal with Cheniere Marketing…

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21 августа, 22:02

Brazilian Corruption Charges Could Impact Mexico’s Oil Boom

Last year, Brazilian construction firm Odebrecht and affiliated petrochemical company Braskem pleaded guilty to bribing officials in 12 countries to secure high-paying contracts. The firm agreed to a payment of at least $3.5 billion, the largest penalty in history for a foreign bribery case. Now, months later, the scandal continues to escalate as new allegations pop up. The latest addition to the scandal is Mexican state oil company Pemex, which has now been swept up in the widespread accusations of corruption. While Pemex officials have already…

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21 августа, 20:47

Libya’s Biggest Oil Field Shut Down As Tensions Rise

The shutdown of Libya’s Sharara oilfield, the country’s largest field, has once again shown that expected production growth of several OPEC countries should not be taken for granted. Even though several media sources have been publishing overwhelmingly optimistic reports about the security situation in the country, especially after the unexpected production boost of Libya’s battered oil and gas sector, the perceived ‘peace’ between General Khalifa Haftar’s LNA and the East Libyan government (HoR), remains shaky…

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21 августа, 19:50

In Breakaway Move From Saudis, Iraq May Change Oil Pricing

In a bid to increase oil revenues and possibly setting the stage for its own benchmark crude grade, Iraq has told customers it may change the way it prices Basra crude for the Asian market, Reuters reported on Monday, quoting a letter by Iraq’s state oil marketing company SOMO it had seen. According to SOMO’s letter, the company is asking customers for input regarding a plan to change the Basra crude pricing for Asia to Dubai Mercantile Exchange (DME) Oman futures beginning next year, dropping the average of Oman and Dubai quotes by…

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21 августа, 19:00

BHP Makes ‘Safe’ Bet On Copper As Prices Hit 2-Year High

Lots of action the past few days in the global copper mining sector. With a couple of the world’s biggest mines again erupting into violence. That included the Grasberg mega-mine in Indonesia. Where police used tear gas Saturday to disperse former workers who had barricaded roads leading to key facilities. That came after owner Freeport-McMoRan laid off 3,000 Grasberg workers earlier this year — who had allegedly been skipping out on work, which they say was a protest of cuts at the mine. Freeport said supply routes to the mine would…

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21 августа, 18:38

Two Oil Giants Merge In $7.45 Billion Deal

French Total today announced the acquisition of Danish Maersk Oil in a stock and debt transaction worth US$7.45 billion. The bigger portion of the deal, US$4.95 billion, consists of Total shares. In addition, the French major will assume US$2.5 billion worth of Maersk Oil’s debt. The share portion represents 3.75 percent of Total’s share capital. The deal should close by end-March 2018. The acquisition is part of Total’s international growth strategy, which includes buys, not just in its traditional field of hydrocarbon development…

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21 августа, 18:38

Hedge Funds Shun WTI While Brent Hits 12-Week High

Brent prices reached a 12-week high on Friday, while WTI Crude prices—although surging on the latest drop in the U.S. rig count—were not touching week-highs, suppressed by rising U.S. crude output. In a sign that investors are more optimistic on a rise in Brent prices, data show that hedge fund managers lowered their net long position on WTI by 2 percent to 274,441 futures and options in the week that ended on August 15, according to data by the U.S. Commodity Futures Trading Commission quoted by Bloomberg. Long positions dropped by…

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21 августа, 17:58

Eclipse: What Happens If The World’s Giant Solar Farms Go Offline?

The first total solar eclipse in 99 years will be an unprecedented test of an American power grid that has become rapidly reliant on solar energy, according to Bloomberg. Power grids, utilities and generators are bracing for more than 12,000 megawatts of solar power to go offline starting around 9 a.m. in Oregon as the moon blocks out the sun across a 70-mile-wide (113-kilometer) corridor. The eclipse has arrived at a time when the American power grid is becoming increasingly reliant on solar, wind and hydroelectric power.   (Click to enlarge)…

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21 августа, 17:32

Goldman Lost $100M On Marcellus Natural Gas Bet

When construction on a key pipeline to transport Marcellus shale natural gas was delayed, Goldman Sachs lost more than US$100 million on a bet that Marcellus gas prices in the Marcellus shale would rise as takeaway pipeline capacity increased, The Wall Street Journal reports, citing people familiar with the trade. In the second quarter, Goldman Sachs reported net revenues in the Fixed Income, Currency and Commodities Client Execution division plunging by 40 percent on the year to US$1.16 billion, “due to significantly lower net revenues in…

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21 августа, 17:14

Oil Tanker, U.S. Destroyer Collide In Singapore Strait

The USS John S McCain, a guided missile destroyer, collided with an oil tanker sailing under a Liberian flag in the Strait of Singapore on Sunday afternoon local time. Ten sailors were reported missing by the U.S. Navy and four others were hospitalized for non-life-threatening injuries. The incident took place on the first day of a joint drill of the U.S. Navy and its South Korean counterpart, aimed at sending a message to North Korea. The destroyer was making a routine port stop in Singapore and the tanker was carrying about 12,000 tons of crude…

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21 августа, 17:02

Oil Holds Steady As OPEC Meets To Talk Slipping Compliance

Oil prices were steady early on Monday morning, searching for a catalyst for direction while OPEC is holding a meeting of its Joint OPEC-Non-OPEC Technical Committee (JTC), which monitors the cartel and friends’ compliance with the output cuts. At 9:15am EST, WTI was at US$48.42 and Brent was at US$52.47. Two weeks ago, OPEC held a meeting with some of the producers and cited its members Iraq and the UAE, as well as non-OPEC signatories to the deal Kazakhstan and Malaysia, as laggards in compliance. The market is now awaiting any news, hints,…

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21 августа, 15:02

Индекс обрабатывающих производств Тюменской области вырос на 4,3%

Тюмень. Индекс промышленного производства в Тюменской области по итогам июля 2017 года составил 102,4% к аналогичному периоду прошлого года. Такие данные привел региональный департамент инвестиционной политики и государственной поддержки ...