New Deal for Workers in Norway Averts Strike Action.
Offshore oil production in Norway flowed as usual today after strike action by workers was averted. Norway’s net oil exports in 2015 averaged 1.714 million barrels a day, an increase of 58,000 barrels compared to 2014, according to data from Evaluate Energy and the BP Statistical Review of 2015. [Oilpro]
U.S. Oil Rig Count Rises By The Most Since December 2015.
11 oil rigs were added to the U.S. oil patch in the week ending July 1, Baker Hughes’ weekly report shows, an indication that companieshave started to increase spending after WTI has hovered around $50/bbl since late May. [Oilpro]
Brexit Briefing: UK & EU Energy Sectors Braced For Fallout.
The longer-term effects of Brexit include the renewed possibility of a split in the UK if Scotland holds a second independence referendum, which could change sovereignty over hydrocarbon reserves in the North Sea. In the short term, the uncertainty created by the result is likely to be negative for investment. [Newsbase, Oilpro]
Saudi Signals It’s OK With Oil At $50/bbl…
The energy minister of Saudi Arabia, the world’s top crude exporter, and the secretary general of producer club OPEC agreed that global oil markets were heading towards balance, and that prices reflect this. [Fortune]
Oil Climbs As Market Seen In Balance, But Slow Demand Weighs.
Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. [Reuters]
Paper: OPEC Worked To Derail U.S. Shale.
Members of the Organization of Petroleum Exporting Countries altered their behavior to limit the role of U.S. shale oil producers, a Norwegian paper found. [Oilpro, UPI]
Half Of Williams Board Members Resign After Collapse Of Energy Transfer Deal.
Almost half of William Cos’s Board of Directors resigned following the dissolution of the proposed $33 billion acquisition of the company by Energy Transfer Equity last week. [Oilpro]
Chevron Deadline Nears for $40 Billion Bet on Next Decade’s Oil.
Chevron Corp. may shortly give a green light to the most expensive oil project in the world this year as the industry digs out from the worst slump in a generation. [Oilpro, Bloomberg]
Nigerian Militants Claim 5 Oil Facility Attacks…
Militants in Nigeria’s oil-rich Delta state on Sunday claimed to have carried out attacks on five oil facilities over the previous two days. The attacks came during a period when the Niger Delta Avengers are supposed to have agreed a truce with the government. [aa.com.tr]
Three Oil Workers Killed In Nigeria.
Suspected pirates have killed three men working for the Nigerian Agip Oil Company in the West African country’s restive swamplands, a security official said Friday. [Oilpro, Yahoo News]
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