Tuesday, July 29, 2014

ISIS REPORTEDLY TOOK SYRIA NG FIELD that supplies Damascus, then pulled out after destroying field's equipment, taking 15 tanks before Syrian jets got there ... May not be enough WTI-compliant oil around to deliver on futures contracts ... IMF cut '14 global growth forecast to 3.4% from 3.6% on slowdowns in China, US econs, increased possibility of military conflicts. Sees possible "sharply higher" oil prices from Mideast "unrest" ... Iraq parliament named Kurd as President (powerless) ... Tanker of Kurd oil - 1M bls - unloading in TX ... Iraq Shiite militia being killed in droves in confrontations with ISIS ... Angola counting on 8 new offshore oil projects to help raise production to 2Mb/d by next year from 1.66M now ... Russia exporting less crude, more refined products ... Poland oil production up 33% over last year to 24Kb/d. NG production near 40BCF in 2Q, up 3% yoy ... S Korea plans to add 60M bls storage of crude, refined products by '20. Wants to be NE Asia oil hub ... Piracy of coastal oil tankers up in SE Asia ... Production costs of Canada oil sands range $51-$107/bl depending on extraction/processing methods ... Pakistan getting China help for $2B LNG import terminal, $1B pipeline ... Lebanon likely to delay offshore oil/gas leases again until next year. (Govt unstable.)

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