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Showing posts from January, 2018

Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform

Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform
Exxon Mobil on Monday said it plans to invest $50 billion in the United States over the next five years, saying its decision is partly due to corporate tax cuts.The investment will go towards increasing production in the Permian basin in western Texas and eastern New Mexico.Exxon announced $20 billion in spending for U.S. Gulf Coast manufacturing in March.Exxon Mobil, the world's largest publicly traded oil company, on Monday said it plans to invest $50 billion in the United States over the next five years. Darren Woods, chairman and CEO of Exxon, said in a blog post that the investment is partly due to recently passed corporate tax cuts. The announcement puts Exxon on the board with a number of other companies that have announced employee bonuses and investments following President Donald Trump and GOP lawmakers' tax overhaul. "These investments are underpinned by the unique strengths of our company an…

ISO 9001:2015 Certified Company

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Proudly announcing that NPN Machine Tools had become ISO 9001:2015 Certified Company. We are also API Q.1 Compliance Company. 

Brent crude oil prices climb more than $1/bbl

MARKET WATCH: NYMEX, Brent crude oil prices climb more than $1/bbl



The light, sweet crude price for February delivery climbed more than $1 to settle above $62.90/bbl on the New York market Jan. 9 while Brent’s March contract rose more than $1 to settle above $68.80/bbl in London. “Overall, the market is focused on the oil-positive news,” said Ole Hansen, Saxo Bank head of commodity strategy. But he said crude prices could stall, saying the market will “at some point find a wall.” The American Petroleum Institute on Jan. 9 estimated US crude supplies decreased by 11.2 million bbl for the week ended Jan. 5. The US Energy Information Administration released its own weekly inventory estimate on oil and product supplies on Jan. 10 (OGJ Online, Jan. 10, 2018). Analysts surveyed by the Wall Street Journal expect EIA will report that crude supplies declined 2.5 million bbl on average last week. In its monthly Short-Term Energy Outlook, released Jan. 9, EIA forecast US crude production will re…

$65.85 a barrel Monday, 8 January 2018 OPEC daily basket price

OPEC daily basket price stood at $65.85 a barrel Monday, 8 January 2018.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
http://www.opec.org/opec_web/en/4749.htm

$66.13 a barrel Thursday, 4 January 2018

OPEC daily basket price stood at $66.13 a barrel Thursday, 4 January 2018 Vienna, Austria, 5 January 2018--The price of OPEC basket of fourteen crudes stood at $66.13 a barrel on Thursday, compared with $65.12 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

http://www.opec.org/opec_web/en/press_room/4017.htm