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Jul 31, 2014

Shell second-quarter earnings rise 33 percent, beat forecasts

LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz) reported a 33 percent increase in quarterly earnings on Thursday, beating analyst forecasts, after producing more liquids and selling at higher prices.

The Anglo-Dutch oil company also raised its quarterly dividend and said the value of its share buybacks and dividends for 2014 and 2015 would exceed $30 billion. The stock (RDSa.L: Quote, Profile, Research, Stock Buzz) rose 3 percent in early trade.

Jul 31, 2014

Shell Q2 earnings rise 33 pct, beat forecasts

LONDON, July 31 (Reuters) – Royal Dutch Shell Plc
reported a 33 percent increase in quarterly earnings on
Thursday, beating analyst forecasts, after producing more
liquids and selling at higher prices.

The Anglo-Dutch oil company also raised its quarterly
dividend and said the value of its share buybacks and dividends
for 2014 and 2015 would exceed $30 billion. The stock
rose 3 percent in early trade.

Jul 30, 2014

OPEC oil output rises in July on fragile Libyan rebound

LONDON, July 30 (Reuters) – OPEC’s oil production rose in
July from June, a Reuters survey found on Wednesday, as a
fragile recovery in Libyan supply outweighed fighting in Iraq
and reduced output from Angola.

Despite the increase, unrest in Africa and the Middle East
is still weighing on supply. That could hinder OPEC’s ability to
boost output later in the year, when the International Energy
Agency expects demand for OPEC crude to rise.

Jul 23, 2014

Iraq’s south oil exports rise to near-record, avoid northern conflict

LONDON, July 23 (Reuters) – Iraq’s oil exports from its
southern terminals in July rose to a near-record rate, according
to loading data and industry sources, remaining unaffected by
fighting in other parts of the country.

An advance by Sunni militants who seized swathes of northern
Iraq last month raised concern Iraqi exports could slow down and
briefly boosted global oil prices to a nine-month high
above $115 a barrel.

Jul 1, 2014

Despite Saudi pledge, another big oil outage would strain supply

LONDON, July 1 (Reuters) – The world’s unused spare oil
production capacity would struggle to cover for another big
outage, industry officials and analysts say, increasing the
chance governments may tap strategic reserves should Iraq’s
southern exports be disrupted.

Unrest in Iraq comes as the almost total loss of Libyan
supply, Western sanctions on Iran as well as conflict in Syria
and northern Iraq are keeping almost 3 million barrels per day
(bpd) – more than 3 percent of world demand – off the market.

Jul 1, 2014

Iran’s oil exports drop in June, stay above Western limits

LONDON, July 1 (Reuters) – Iran’s crude oil exports dropped
in June after a spike in May, yet sales were still above the
level allowed by an interim deal aimed at curbing Tehran’s
nuclear programme, according to sources who track tanker
movements.

Under the agreement signed in November between Iran and six
world powers, which came into effect in January, Iran’s exports
should average 1 million barrels per day (bpd) through to July
20.

Jun 30, 2014

OPEC oil output slips in June on Iraq

LONDON, June 30 (Reuters) – OPEC’s oil output has fallen in
June from May’s three-month high, a Reuters survey found on
Monday, as fighting in Iraq closed its largest oil refinery and
technical problems slowed its southern exports.

The slight decline underlines how unrest and outages in the
Middle East and Africa are taking their toll on OPEC supply,
just as the International Energy Agency is highlighting a
greater need for OPEC oil in the rest of the year.
[D:nL5N0OU1KF]

Jun 24, 2014

Oil drops below $114 as Iraq supply concerns eases

LONDON, June 24 (Reuters) – Oil slipped below $114 a barrel
on Tuesday, retreating further from a nine-month high, as
concerns eased that escalating violence in Iraq will affect
supplies from OPEC’s second-largest oil producer.

According to tanker loading data and Reuters sources,
exports from southern Iraq – the outlet at present for almost
all of Iraq’s crude exports – have held at near-record rates in
the first three weeks of June.

Jun 20, 2014

Oil near $115, heads for 2nd weekly gain on Iraq fighting

LONDON, June 20 (Reuters) – Oil held near $115 a barrel on
Friday, close to a nine-month high, and was headed for its
second weekly gain on increased risks of disruption to supply
from Iraq.

Oilfields south of Baghdad, which export at least 2.5
million barrels per day (bpd) of oil, are unaffected. But the
fighting in the north, and foreign oil firms beginning to pull
out staff, pose a risk to supplies.

Jun 17, 2014

Iraq’s oil growth at risk as demand, for now, accelerates-IEA

LONDON (Reuters) – Iraq’s oil growth targets look increasingly at risk, the International Energy Agency said, as threats to supplies from political instability and violence grow just as demand is picking up due to a stronger global economy.

Iraq is the second-largest producer in OPEC and its northern exports have been offline since March. OPEC output has also been hit by unrest in Libya, sanctions on Iran and oil theft in Nigeria.

    • About Alex

      "Senior correspondent in the crude oil team on Reuters energy desk in London. I joined Reuters in 2006 and previously covered energy for Bloomberg, Platts and Bridge News."
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