home
> Övunç Kutlu
US initial jobless claims fall lowest level in 3 weeks
- Trump says he wants direct payments to taxpayers increased to $2,000
Rosneft income falls 77%, revenue down 51% in 2Q20
- Company has net loss of 113 billion rubles ($1.55 billion) in first six month of 2020
US gasoline supply post largest monthly rise since 1945
- Easing stay-at-home orders cause rise in gasoline use, but jet fuel demand remains low with weak commercial air travel
Trump scraps Obama methane limits in oil, gas sectors
- Decision is a major setback in climate regulations as methane is more potent than CO2 as heat-trapping gas in atmosphere
US' gas-fired electricity generation rises 9% in 1H20
- Increase in natural gas-fired generation result of low gas prices, additions in gas-fired power capacity
Global oil production increases in July 2020
- Global oil demand in 2020 is estimated to be 9.06 million barrels a day lower than last year
US' LNG exports to remain low this summer: EIA
- Decline in global gas demand, rising gas inventories, increasing global LNG capacity cause gas prices reach all-time lows
EIA revises up Brent oil forecast by almost $1 for 2020
- International benchmark expected to average $41.40 per barrel this year
Spot market electricity prices for Wednesday, August 12
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 175.78 million Turkish liras
home
> Övunç Kutlu
Spot market natural gas prices for Monday, August 10
- 1,000 cubic meters of natural gas on spot market costs 1,415 Turkish liras
Turkey's daily power consumption up 11% on August 10
- Turkey's electricity exports amount to 3,991 megawatt-hours, while imports reach 2,447 megawatt-hours
Brent oil $45 a barrel as markets await US relief bill
- US Treasury Secretary Steven Mnuchin says a deal could be reached this week
Spot market electricity prices for Sunday, August 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 154.77 million Turkish liras
Spot market natural gas prices for Friday, August 7
- 1,000 cubic meters of natural gas on spot market costs 1,408 Turkish liras
Iran moves from oil to petrochemicals in export
- Country launches 3 major petrochemical projects worth $1.6B to boost non-oil revenue
Turkey, TRNC do not condone theft of rights in E. Med.
- Egypt, Greece deal new example of two countries not obeying laws, Ersin Tatar says
Turkey's daily power consumption up 0.42% on August 7
- Turkey's electricity exports amount to 5,735 megawatt-hours, while imports reach 7,676 megawatt-hours
US oil rig count falls by 4 for week ending Aug. 7
- Number of oil rigs in US hit lowest level since July 2005
Libya welcomes US sanctions on oil smuggler network
- Competition for control of smuggling routes, oil facilities deprives Libyan people of economic resources, US Treasury Department says
home
> Övunç Kutlu
US converts 121 coal-fired plants since 2011
- Decision to covert driven by stricter emission standards, low natural gas prices, more efficient gas turbine technology
US crude oil prod. in May posts record monthly decline
- Crude output in US posts largest monthly fall since January 1980
Spot market electricity prices for Wednesday, August 5
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 172.4 million Turkish liras
Spot market natural gas prices for Monday, August 3
- 1,000 cubic meters of natural gas on spot market costs 1,385 Turkish liras
BP posts $16.8 billion loss in second quarter of 2020
- Firm's total loss widens to $21.2 billion for first half of year
Turkey's daily power consumption up 2.73% on August 3
- Turkey's electricity exports amount to 5,401 megawatt-hours, while imports reach 1,995
Oil prices down as OPEC raises crude output
- OPEC+ group lowers oil output cut by 2 million bpd from Aug. 1 onwards
Chevron records 65% revenue decline, $8B loss in 2Q20
- Economic impact of response to COVID-19 significantly reduced demand, lowered commodity prices, CEO says
01.08.2020
Oil
ExxonMobil posts $1B net loss, 52% revenue fall in 2Q20
- Capital and exploration expenditures were $5.3 billion in second quarter, nearly $2 billion lower than first quarter
01.08.2020
Oil
ConocoPhillips earnings decline 83.5% in 2nd qtr. of 2020
- Earnings decrease due to lower prices and volumes, company says
home
> Övunç Kutlu
US energy use in April falls to lowest level in 30 years
- Month of April sees lowest monthly energy consumption recorded since September 1989
Eni posts $5B net loss, 55% revenue fall in 2nd qtr.
- Company going through one of most challenging quarters oil and gas industry faced in history, CEO says
30.07.2020
Oil
Total's revenue down 52%, net loss $8.3B in Q2
- COVID-19 had a significant impact on global economy and oil market saw sharp drop in crude prices, CEO says
Shell posts $18B loss, revenue fall 64% in Q2
- Weak results reflect lower prices for oil, lower realized refining margins, higher well write-offs, company says
30.07.2020
Oil
Brent oil up with major withdrawal in US crude stocks
- Massive decline in US crude inventories signals oil consumption in country is on rise with summer driving season
30.07.2020
Oil
US crude oil inventories post massive decline
- Commercial crude oil stocks fall by 10.6 million barrels, against market forecast of 0.3 million barrel increase
US coal production falls to lowest level since 1978
- Country on target for further declines in coal production this year to levels comparable with 1960s
Turkey ready for talks with Greece sans preconditions
- Ankara willing to turn Mediterranean into region of peace, not conflict, says presidential spokesman
Oil prices up with estimated decline in US crude stocks
- Forecast of US crude inventory fall signals increases in US oil consumption
Forty US firms reduce asset value by $48B in 1st qtr.
- The 40 publicly traded oil companies produce about 30% of all US liquids production in first quarter
home
> Övunç Kutlu
Oil mixed as US dollar plunge ends and virus cases rise
- After recording lowest rate since June 2018, US dollar index was up 0.3% with $1 trillion stimulus package introduced in US
Oil up with low dollar index and US-China tension
- Escalating tensions between US and China reignite fears of poor economic activity and low oil demand
Schlumberger posts net loss, revenue decline in 2nd qtr
- North America takes largest hit for company who saw 58% revenue decline in region
Oil prices head for 1% weekly gain with weak US dollar
- US dollar index declines in 10 of last 11 trading days, offering cheaper prices for oil importers and raising their demand
Oil prices steady as weak dollar balances low demand
-Importers benefit from weak US dollar which hit lowest level since Sep. 2018 to offset low demand from rising COVID-19 cases
Baker Hughes net loss widens, revenue down in 2nd qtr.
- Risks of second wave of virus and high unemployment forge uncertain economic environment through 2020, CEO says
Petrobras oil production down due to reduced demand
- Company says it is facing sharp oil price drop, demand decline and market supply surplus
Oil prices up as weak US dollar spurs higher demand
- US dollar index at lowest level of four and a half months
US crude oil stocks rise against market expectation
- Commercial crude oil stocks increase by 4.9 million barrels, against market forecast of 2.1 million barrel decline
US petroleum demand to remain low until August 2021
- US consumption of liquid fuels in April reached all-time monthly low since early 1980s
home
> Övunç Kutlu
Halliburton posts net loss, revenue decline in 2nd qtr.
- Revenue down 46% with net losses of $1.68 billion in second quarter of 2020
Oil prices up as EU agrees on budget, coronavirus aid
- Investors hopeful that €750 billion relief package will restart European economy and boost oil consumption on continent
Chevron agrees to buy Noble Energy for $5 billion
- Deal will add Noble's hydrocarbon reserves to Chevron's portfolio
Canada's oil production hits lowest level since 2016
- Oil production falls by 700,000 barrels per day in April, and by another 640,000 barrels per day in May
US uranium production falls to all-time low in 2019
- Canada was largest source of US uranium imports in 2019, followed by Kazakhstan, Australia and Russia
Oil prices down with rising coronavirus cases worldwide
- Rising COVID-19 cases weakens world economic outlook and oil demand, implying oil consumption will likely remain low
US share of Turkish LNG imports rises with cheap prices
- Turkey can use cheap US LNG to diversify sources, enhance negotiations and export to southern Europe, investor says
Oil prices down with rising coronavirus cases worldwide
- Confirmed cases in US surpass 3.5 million mark
US tells companies to 'get out' of Russian gas projects
- Companies involved in Nord Stream 2 and second line of Turk Stream projects at risk of sanctions, says top US diplomat
OPEC agrees to ease oil output cut to 7.7 mbpd in August
- Group foresees jet fuel, gasoline and diesel consumption to grow in coming months
home
> Övunç Kutlu
OPEC prepares to ease oil production cut to 7.7 mbpd
- "Excess oil will be used for domestic consumption in oil producing nations," Russian energy minister says
15.07.2020
Oil
Oil sees positive momentum with OPEC cuts: Sec. Gen.
- Barkindo points to growing importance of international dialogue, cooperation in helping to stabilize world energy markets
US Henry Hub natural gas prices hit record lows in 1H20
- Natural gas prices in US to stay low in coming months before eventually increasing by end of this year
15.07.2020
Natural Gas
Global oil production declines in June 2020
- Global oil demand in 2020 is estimated to be 8.95 million barrels a day lower than last year
Oil down with record virus cases, US-China tension
- 230,000 COVID-19 cases were reported to WHO on Sunday -- a single-day world record
OPEC share of global crude output falls to 39% in 2019
- Iran and Venezuela each see a year-over-year 33% decline in crude oil output
US produces, consumes record high natural gas in 2019
- Natural gas production rises 10% while consumption increases 3.1% from previous year
Oil prices down with record new virus cases in US state
- Rising number of COVID-19 cases lowers economic recovery outlook and oil consumption in US
Spot market electricity prices for Monday, July 13
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 146.24 million Turkish liras
Spot market natural gas prices for Saturday, July 11
-1,000 cubic meters of natural gas in spot market costs 1,286 Turkish liras
home
> Övunç Kutlu
Libya: Haftar stipulates conditions to allow oil flow
- Warlord Khalifa Haftar wants equal distribution of oil revenue and proceeds to be deposited in foreign bank
Turkey's daily power consumption down 3.28% on July 11
- Turkey's electricity exports amount to 2,171 megawatt-hours, while imports total 8,183 megawatt-hours
IEA: Global oil supply falls to nine-year low in June
- Record OPEC+ cuts drive most of decline in June as group boosts compliance to 108% from 88% a month earlier
Oil prices down with record new COVID-19 cases globally
- Daily number of coronavirus cases in world spiked by 223,230 on Thursday to break single-day record
Oil prices down with surprise rise in US crude stocks
- On demand side, risks over a second wave of COVID-19 continue to keep outlook for global oil demand weak
US crude oil stocks increase against market expectation
- Commercial crude oil stocks rise by 5.7 million barrels, against market forecast of a decline of 3.1 million barrels
Spot market electricity prices for Thursday, July 9
- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 156.23 million Turkish liras
Spot market natural gas prices for Tuesday, July 7
-1,000 cubic meters of natural gas in spot market costs 1,255 Turkish liras
US approves LNG export from Jordan Cove in Oregon
- Project will export up to 30.6 million cubic meters per day of natural gas from Canada and US
Turkey's daily power consumption hits record on July 7
- Hourly consumption peaked at 17.00 local time with 43,638 megawatt-hours, posting another record for hourly electricity use
home
> Övunç Kutlu
Oil prices down with estimate of US crude stock buildup
- Crude oil inventories in US are expected to rise by 2.05 million barrels for week ending July 3
EIA revises up Brent price forecast by $2.50 for 2020
- International benchmark expected to average $40.50 per barrel this year
Turkey, Russia hold 20th joint patrol in northern Syria
- Patrol conducted with participation of ground and aerial elements, says Turkey's Defense Ministry
US gas exports to Mexico to rise with p/line extension
- Extension to increase natural gas sent from the US to Mexico by 25.2 million cubic meters per day
Oil down with more COVID-19 cases in key US states
- Number of COVID-19 cases in California, Texas, Florida are each above 200,000 mark
Oil prices up with lowest US rig count since June 2009
- Decline in oil rig count suggests that crude oil production in US will decrease in short term
Oil prices up around 5% for week ending July 3
- US commercial crude oil inventories signal rising demand in world's largest oil consuming country
Oil prices down with record new COVID-19 cases in US
- Record number of new cases in world's biggest oil consumer indicates that oil demand is likely to remain low in 3rd quarter
US oil rig count falls for sixteenth consecutive week
- Over the past 16 weeks, the decline in the US oil rig count totaled 498, according to Baker Hughes
Non-fossils account for 20% of US energy use in 2019
- US total renewable energy consumption surpassed coal consumption last year for first time in 130 years
home
> Övunç Kutlu
Goldman Sachs expects full oil demand recovery in 2022
- Global oil demand to decline by 8% in 2020, and increase by 6% in 2021
Oil prices up with fall in US crude inventories
- Summer season provides positive outlook for global oil consumption through September
US crude oil stocks fall more than market expectation
- Commercial crude oil inventories decrease by 7.2 million barrels, higher than market forecast of 0.7 million barrels
OPEC Sec. Gen. joins African meeting to discuss energy
- Secretary General Barkindo calls for cooperation to sustain oil market stability
US industrial power sales lowest in April since 1987
- Stay-at-home orders against COVID-19, which moved office workers to working from home, also affected commercial power sales
US oil production increases by 134% in 11 years
- Between 2009-2019, US share of world oil production jumped from 8.91% to 17.9%, almost doubling in 11 years
Oil up with estimate of large US crude stock withdrawal
- Crude oil inventories in US are expected to decline by 8.1 million barrels for week ending June 26
Shell: Low oil prices to lower asset value up to $22B
- Energy company points to impacts of COVID-19 and challenging commodity price environment
Oil prices retreat as Libya escalates oversupply worries
- Libya's NOC is hopeful that regional countries will lift blockade